Offering Memorandum 4 Units 521 West Riggin Street, Monterey Park Presented by: John Mociak Senior Investment Associate, BRE #01708711 830 South Sepulveda Boulevard, Suite 200 El Segundo, CA 90245 Office: (310) 939-9359 Cell: (310) 872-0963
[email protected] Table of Contents 1. Narrative 2. Pricing Sheet 3. Exterior Photos 4. Interior Photos 5. Location Information & Maps 6. Market Analysis & Sales Comparables 7. Additional Recent Transactions 8. Rent Comparables Narrative Rare opportunity to acquire a cash flow income property in highly sought after Monterey Park. Excellent investment metrics: $98,940 Gross Scheduled Income, 4.92% Cap Rate, 14.23 Gross Rent Multiplier. Monterey Park was named the third best American City to live in by Money Magazine in 2017, and has been thriving ever since. The multifamily rental market continues to demonstrate strength and growth due to the areas prime location near major freeways, rail transportation, retail and shopping centers, schools and colleges, as well as many parks, cultural venues/events, and numerous restaurants with renowned domestic and international cuisine. Turnkey asset with large units. No city rent control. Two (2) buildings, a front triplex (2+1, 2+1, 1+1) with on-site parking and a rear house (3+2) with a private entrance, sweeping mountain views, and a two car garage. Exterior renovations include: new roofs, new sub-roofing, new facia board, new windows throughout, new exterior paint, new landscaping, and more. Interior renovations include: new flooring, new cabinets, new counter tops, remodeled bathrooms, remodeled master, remodeled kitchens, and more. Tenants enjoy remodeled spacious residential living, washer and dryer hookups in each unit, on-site parking, and easy access to the 60 freeway, the 710 freeway, and the 5 freeway.