7561 CENTER AVE #32 CAMERON SAMIMI 310.259.7556 HUNTINGTON BEACH, CA 92647 [email protected]
Total Page:16
File Type:pdf, Size:1020Kb
EXCLUSIVE MULTIFAMILY OFFERING PARKER BOEHLE 310.988.8361 [email protected] 7561 CENTER AVE #32 CAMERON SAMIMI 310.259.7556 HUNTINGTON BEACH, CA 92647 [email protected] RETAIL/CONDO $895,000 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 TABLE OF CONTENTS HUNTINGTON BEACH, CA 92647 CONFIDENTIALITY & DISCLAIMER TABLE OF CONTENTS All materials and information received or derived from Samimi Investment Real Estate its directors, PROPERTY INFORMATION 3 officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, FINANCIAL ANALYSIS 12 compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property SALE COMPARABLES 15 for any party’s intended use or any and all other matters. LOCATION INFORMATION 21 Neither Samimi Investment Real Estate its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. Samimi Investment Real Estate will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Samimi Investment Real Estate makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Samimi Investment Real Estate does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Samimi Investment Real Estate in compliance with all applicable fair housing and equal opportunity laws. SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 2 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 PROPERTY HUNTINGTON BEACH, CA 92647 INFORMATION SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 3 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 PROPERTY OVERVIEW HUNTINGTON BEACH, CA 92647 PROPERTY DESCRIPTION Beautiful Live/Workspace in the iconic Old World Village. This turnkey gem will be delivered Completely Vacant making it an ideal opportunity for an Owner/User play. With 2,688 Sq.Ft of rentable space, it is the largest Condominium in the community. The unit is ideally located directly across from the heart of the Village with tons of Restaurants and Retail. The top floor is a Spacious 3- Bd/2-Ba with over 1,300 Sq.Ft of livable space. Amenities to the top floor include A/C, Dishwasher, Washing Machine, and hook up in place to add in a dryer. In addition to plenty of parking for all condos, the property comes with a single garage that can be used for parking or storage. Market rents for 3-Bed units will rent out around $2,500 should the owner decide to add monthly income. The bottom floor is a Commercial space totaling nearly 1,400 Sq.Ft, which offers a Half Bath and separate storage space. At the back of the Commercial space is a quaint, private patio space enclosed greenery. The previous owner used the space as an art gallery but can be used creatively to the choice of the new owner. The Center Ave. Condo has great transit access, being conveniently located right off of the 405 Freeway. It is sandwiched right in between Golden West College and Bella Terra Mall, offering plenty of traffic. SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 4 EXCLUSIVE MULTIFAMILY OFFERING 7561 CENTER AVE #32 PROPERTY OVERVIEW HUNTINGTON BEACH, CA 92647 LOCATION INFORMATION Price: $895,000 Address: 7561 Center Ave #32 City, State, Zip: Huntington Beach, CA 92647 BUILDING INFORMATION Year Built: 1976 Number of Units: 2- Retail/Condo Building Size: 2,688 Sq.Ft Lot Size: 1,579 Sq.Ft Current CAP: 4.00% Current GRM: 17.34 Market CAP: 4.00% Market GRM: 17.34 (1) 3-Bd/2-Ba Unit Mix: (1) Commercial Space PROPERTY HIGHLIGHTS Fully Vacant Live/Workspace in the iconic Old World Village The Largest Condominium in the community, located in the heart of the Village Massive 3-Bd/2-Ba with amenities including A/C, Dishwasher, Washing Machine, and hook ups for a Dryer Bottom floor is a 1,400 Sq.Ft Commercial Space equipped with a half bath and a kitchenette Private, enclosed patio space with direct access from outside and back of building Great transit access located right off of the 405 Freeway, right in middle of Golden West College and Bella Terra Mall SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 5 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 LOCATION HUNTINGTON BEACH, CA 92647 SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 6 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 FLOORPLAN HUNTINGTON BEACH, CA 92647 SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 7 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 PHOTOS HUNTINGTON BEACH, CA 92647 SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 8 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 PHOTOS HUNTINGTON BEACH, CA 92647 SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 9 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 PHOTOS HUNTINGTON BEACH, CA 92647 SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 10 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 PHOTOS HUNTINGTON BEACH, CA 92647 SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 11 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 FINANCIAL HUNTINGTON BEACH, CA 92647 ANALYSIS SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 12 E X C L U S I V E M U LT I FA M I LY O F F E R I N G 7561 CENTER AVE #32 RENT ROLL HUNTINGTON BEACH, CA 92647 UNIT UNIT UNIT CURRENT MARKET BED BATH SIZE (SF) RENT RENT 3 2 1,319 $2,500 $2,500 Commercial Space 1/2 1,368 $1,800 $1,800 2,687 $4,300 $4,300 SAMIMI INVESTMENT REAL ESTATE | LYON STAHL INVESTEMENT REAL ESTATE • 13 EXCLUSIVE MULTIFAMILY OFFERING 7561 CENTER AVE #32 FINANCIAL ANALYSIS HUNTINGTON BEACH, CA 92647 7561 Center Ave., Huntington Beach Annualized Operating Data Current Rents Market Rents List Price: $895,000 Scheduled Gross Income: $ 51,600 $ 51,600 Down Payment: 40.0% $358,000 Vacancy Rate Reserve: $ 1,548 3% 1 $ 1,548 3% 1 Number of units: 2 Gross Operating Income: $ 50,052 $ 50,052 Cost per Unit: $447,500 Expenses: $ 14,252 28% 1 $ 14,252 28% 1 Current GRM: 17.34 Net Operating Income: $ 35,800 $ 35,800 Market GRM: 17.34 Loan Payments: $ 28,936 $ 28,936 Current CAP: 4.00% Pre Tax Cash Flows: $ 6,864 1.92% 2 $ 6,864 1.92% 2 Market CAP: 4.00% Principal Reduction: $ 10,306 $ 10,306 Year Built / Age: 1976 Total Return Before Taxes: $ 17,169 4.80% 2 $ 17,169 4.80% 2 Approx.