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933 SOUTH LA BREA AVENUE Contents OFFERING MEMORANDUM NNN RETAIL OFFERING · INGLEWOOD, CA 933 SOUTH LA BREA AVENUE Contents 4 The Offering 933 South La Brea Avenue 9 Location Los Angeles, CA 90301 10 Financial Analysis EXCLUSIVELY LISTED BY Daniel Shon 12 Market Comps Andres Diaz Edward Caballero Julian Bloch Melissa Martinez Gage Manos Executive Director Senior Director Senior Director Associate Junior Director Junior Director Multifamily Investments Multifamily Investments Multifamily Investments Multifamily & Retail Investments Multifamily Investments Multifamily Investments Mobile: (714) 876-5013 Mobile: (323) 376-2469 Mobile: (213) 432-1959 Mobile: (415) 250-7365 Mobile: (661) 645-4376 Mobile: (818) 618-2598 Direct: (213) 797-7181 Direct: (213) 797-7182 Direct: (213) 797-7160 Direct: (213) 797-7025 Direct: (213) 797-7183 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] CA License: 01931687 CA License: 01956479 CA License: 01945899 CA License: 02043055 CA License: 02094250 CA License: 01966921 4 933 SOUTH LA BREA AVENUE OFFERING MEMORANDUM 5 933 SOUTH LA BREA AVENUE The Offering PROPERTY INFO FINANCIAL SUMMARY 933 S. LA BREA AVE Tenants Salvadorean Restaurant Purchase Price $1,100,000 Zulemas Bakery Kingside Investment Group of Keller Williams Cap Rate 5.61% Address 933 South La Brea Avenue Downtown Los Angeles is proud to exclusively offer Net Operating Income $61,692 Inglewood, CA 90301 for sale a NNN Retail asset located in Inglewood. APN 4024-019-005 Price / SF $636.57 GLA 1,728 Rent / SF $3.07 933 South La Brea Avenue is a retail building situated on a 5,656 square foot lot. The property consists of one building with two re- Lot Size 5,656 tail tenants. The property is made out of wood-frame construction and currently has approximately 50 feet of frontage along South La Units 2 Brea Avenue. Year Built 1946 Located in the rapidly gentrifying location of Inglewood, the subject INVESTMENT HIGHLIGHTS property is located within walking distance to The Forum, New LA Rams Stadium, and McDonalds. Constructed in 1946, the building hosts two retail tenants, a bakery and a Salvadorian Restaurant. A Ǜ NNN-Investment Asset savvy investor can take advantage of the potential upside by capi- talizing on the high demand for Real Estate in the immediate area. Ǜ 5.61% High-Yield CAP Ǜ Centrally Located Ǜ 1 Mile from the New LA Rams Stadium 6 933 SOUTH LA BREA AVENUE OFFERING MEMORANDUM 7 933 S. LA BREA AVE 933 S. LA BREA AVE S. LA BREA AVE E. ARBOR VITAE ST S. LA BREA AVE E. ARBOR VITAE ST LAX AIRPORT 8 933 SOUTH LA BREA AVENUE OFFERING MEMORANDUM 9 AREA SCORES Location Untitled map 72 INGLEWOOD PLAZA EL SEGUNDO BEACH CITIES Inglewood is a city in Los Angeles County’s South Bay region, home to new Los Angeles WALK SCORE Untitled layer Rams’ NFL stadium, planned to open in July 2020. Inglewood is also close to many major Very Walkable – Most errands can be accomplished on foot. All items players in the aerospace and electronics industries, including The Boring Company, Northrop Corporation, OSI Systems, SpaceX, and Tesla. Ideally located near the Los Angeles Interna- tional Airport, connected by rail to the Port of Los Angeles and downtown Los Angeles, and AREA HIGHLIGHTS surrounded by the San Diego (I-405), Harbor (I-110), and Glenn M. Anderson (I-105) Free- INGLEWOOD, ways, the Inglewood is centrally connected to all of what Los angeles has to offer. 49 TRANSIT SCORE Some Transit – Some nearby pub- CA lic transportation options. SPACEX SOUTH BAY GALLERIA LOS ANGELES STADIUM LOS ANGELES ALE WORKS 55 933 S. LA BREA AVE BIKE SCORE Somewhat Bikeable – Some bike infrastructure 10 min to LAX ACCESSIBILITY 15 min. to Beach Cities 20 min. to DTLA 10 933 SOUTH LA BREA AVENUE OFFERING MEMORANDUM 11 FINANCIAL SUMMARY FINANCIAL INDICATORS UNIT MIX CURRENT MARKET Price $1,100,000 No. Avg. Avg. Rent/ Monthly Avg. Rent/ Monthly Loss-to- Unit Type Down (35%) $385,000 Units SF Rent SF Income Rent SF Income Lease Current CAP 5.61% Salvadorean Restaurant 1 728 $2,150 $2.95 $2,150 $2,200 $3.02 $2,200 $50 Market CAP 5.71% Zulemas Bakery 1 1,000 $3,150 $3.15 $3,150 $3,200 $3.20 $3,200 $50 Price/Unit $550,000 Totals/Wtd. Averages 2 864 $2,650 $3.07 $5,300 $2,700 $3.13 $5,400 $100 Price/Gross SF $636.57 Annual Annual $63,600 $64,800 Current GRM 17.30 Current Rents: Market Rents: Market GRM 16.98 Current GIM 17.30 ANNUALIZED OPERATING DATA CURRENT MARKET Market GIM 16.98 Market Rent $64,800 $64,800 Ownership Fee Simple Gain (Loss)-to-Lease 2% $1,200 0% Gross Potential Rental Income $63,600 $64,800 BUILDING DATA Less: Vacancy 3% $1,908 3% $1,944 Property Address 933 S. La Brea Ave Less: Non-Revenue Units Inglewood, CA 90301 Less: Concession Loss No. of Units 2 Total Rental Income $61,692 $62,856 Year Built 1946 Misc. Income $0 $0 Lot Size (SF) 5,656 Effective Gross Income $61,692 $62,856 Zoning INC5YY Less: Expenses 0% $0 0% $0 Gross SF 1,728 Net Operating Income $61,692 $62,856 APN 4024-019-005 Less: Debt Service $39,735 $39,735 BUILDING DATA Pre-Tax Cash Flow 5.70% $21,957 6.01% $23,121 Loan Amount $715,000 Interest Rate 3.75% Monthly Payment $3,311 Loan-to-Value 65% Term 5 Proposed/Assumption Proposed Debt Service Coverage Ratio 1.55 Amortization (Years) 30 Untitled map 12 933 SOUTH LA BREA AVENUE OFFERING MEMORANDUM 13 Untitled layer SALES COMPS MAP SALES COMPS All items 933 S. La Brea Ave 1 427-433 W. Florence Ave 2 4431 S. Vermont Ave 3 1879-1885 W. Slauson Ave 4 550 W. Manchester Blvd 2 1 2 933 South La Brea Avenue 427-433 West Florence Avenue 4431 South Vermont Avenue 3 INGLEWOOD, CA 90301 LOS ANGELES, CA 90003 LOS ANGELES, CA 90037 Price $1,100,000 Price $1,225,000 Price $1,200,000 COE - COE 2/22/2019 COE 8/21/2019 Year Built 1946 Year Built 1980 Year Built 1928 1 Building SF 1,728 Building SF 1,758 Building SF 1,960 $/SF $636.57 $/SF $696.81 $/SF $612.24 4 14 933 SOUTH LA BREA AVENUE OFFERING MEMORANDUM 15 SALES COMPS 933 S. LA BREA AVE 3 4 1879-1885 West Slauson Avenue 550 West Manchester Boulevard LOS ANGELES, CA 90047 LOS ANGELES, CA 90301 Price $1,165,000 Price $998,000 COE 12/6/2019 COE 10/29/2019 Year Built 1946 Year Built 1954 Building SF 1,675 Building SF 1,800 $/SF $695.52 $/SF $554.44 933 South La Brea Avenue Los Angeles, CA 90301 EXCLUSIVELY LISTED BY Daniel Shon Andres Diaz Edward Caballero Julian Bloch Melissa Martinez Gage Manos Executive Director Senior Director Senior Director Associate Junior Director Junior Director Multifamily Investments Multifamily Investments Multifamily Investments Multifamily & Retail Investments Multifamily Investments Multifamily Investments Mobile: (714) 876-5013 Mobile: (323) 376-2469 Mobile: (213) 432-1959 Mobile: (415) 250-7365 Mobile: (661) 645-4376 Mobile: (818) 618-2598 Direct: (213) 797-7181 Direct: (213) 797-7182 Direct: (213) 797-7160 Direct: (213) 797-7025 Direct: (213) 797-7183 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 Fax: (213) 537-0004 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] CA License: 01931687 CA License: 01956479 CA License: 01945899 CA License: 02043055 CA License: 02094250 CA License: 01966921.
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