2110 Bonsallo Ave, Los Angeles, CA 90007

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2110 Bonsallo Ave, Los Angeles, CA 90007 8-UNIT ASSET NEAR USC 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 8-UNIT ASSET NEAR USC TABLE OF CONTENTS SECTION 01 Property Overview 02 Financial Analysis 03 Location Overview CONTACT INFORMATION Johnny Cleator Senior Associate (310) 340-1299 Will James Director (424) 325-2610 Tom Jonsson Director (424) 325-2621 02 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 1 PROPERTY OVERVIEW Street Address 2110 S. Bonsallo Ave Number of Units 8 Parking 6 Spaces City Los Angeles Number of Buildings 1 Zoning RD1.5 State CA Number of Stories 2 Unit Mix (8) Single / 1 Bath Zip Code 90007 Water Master-Metered * This property is subject to City of Los Angeles Affordable Housing restrictions for low and moder- 5124-031-028 Individually Metered APN Electric ate income families. The maximum allowable rent Rentable Square Feet 3,658 SF Gas Individually Metered is released by HCIDLA each year and the current amount is $1,488 per unit as of August 2020. The Lot Size 6,237 SF Construction Wood-Frame Siding covenant on title commenced July 6, 1999 and will remain in effect until July 6, 2039. Buyer to verify Year Built 1920 Roof Flat and complete their own investigation. 03 CONTACT JOHNNY CLEATOR SECTION 1 PROPERTY OVERVIEW Located in USC Department of Public Safety Patrol Zone The subject property is in safe location, inside the USC Department of Public Safety Patrol Zone. On-Site Parking There are six (6) surface parking spaces located behind the building with no soft-strory retrofit required. Spacious Studios Large studios with separate kitchen and bathroom areas. New Roof The roof of the property was replaced in 2016. Well-Maintained Property The electrical system has been upgraded and the plumbing is all copper. The exterior staircase behind the building is new. On-Site Laundry Laundry facilities are located in the basement for tenant use and additional owner income. Section 8 Tenants With 6 of 8 units being rented to Section 8 tenants, monthly rent payments are guaranteed by the city. Storage or Additional Income Large basement area could be used for storage or rented out for additional income. 04 CONTACT JOHNNY CLEATOR SECTION 1 PROPERTY OVERVIEW 05 CONTACT JOHNNY CLEATOR SECTION 1 property OVERVIEW 06 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 2 FINANCIAL ANALYSIS $1,525,000 CURRENT PRO FORMA Price $1,525,000 Cap Rate 4.19% 6.26% Price per Unit $190,625 GRM 14.10 10.68 Price per Square Foot $416.89 Net Operating Income $63,837 $95,498 07 CONTACT JOHNNY CLEATOR SECTION 2 FINANCIAL ANALYSIS Down Payment $533,750 (35%) Loan Amount $991,250 Interest Rate 3.50% Amortization / Fixed Period 30-Year / 5-Year Term 360 Month CURRENT PRO FORMA Debt Service -$53,414 -$53,414 Pre-Tax Cash Flow $10,423 (1.95%) $42,084 (7.88%) Principle Reduction -$19,023 -$19,023 Total Return $29,446 (5.52%) $61,107 (11.45%) 08 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 2 FINANCIAL ANALYSIS ANNUAL ANNUAL INCOME CURRENT PRO FORMA EXPENSE CURRENT PRO FORMA Base Rental Income $108,132 $142,848 Taxes (1.20%) $18,300 $18,300 Additional Income $1,200 $1,200 Insurance ($0.65/sq. ft.) $2,378 $2,378 Gross Potential Income $109,332 $144,048 Utilities (2020 actual) $7,739 $7,739 Vacancy Allowance $5,407 (5%) $7,142 (5%) Repairs & Maintenance ($500/unit) $4,000 $4,000 Effective Gross Income $103,925 $136,906 Management Fee (4% of EGI) $4,157 $5,476 Operating Expenses $40,089 (39%) $41,408 (30%) Gardener ($50/month) $600 $600 Net Operating Income $63,837 $95,498 Pest Control ($30/month) $360 $360 Reserves ($200/unit) $1,600 $1,600 Direct Assessments $955 $955 Operating Expenses $40,089 $41,408 09 CONTACT JOHNNY CLEATOR SECTION 2 FINANCIAL ANALYSIS PRO FORMA UNIT # UNIT TYPE RENT RENT 01 Single / 1 Bath $916 $1,488 02 Single / 1 Bath $743 $1,488 03* Single / 1 Bath $1,250 $1,488 04* Single / 1 Bath $1,245 $1,488 05* Single / 1 Bath $1,221 $1,488 06* Single / 1 Bath $1,250 $1,488 07* Single / 1 Bath $1,236 $1,488 08* Single / 1 Bath $1,150 $1,488 TOTAL $9,011 $11,904 * Section 8 ** This property is subject to City of Los Angeles Affordable Housing restric- tions for low and moderate income families. The maximum allowable rent is released by HCIDLA each year and the current amount is $1,488 per unit as of August 2020. The covenant on title commenced July 6, 1999 and will remain in effect until July 6, 2039. Buyer to verify and complete their own investigation. 10 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 3 LOCATION OVERVIEW Los Angeles, CA Los Angeles is the largest city in California with an estimated population of nearly 4 million, and is the second- largest city in the United States, after New York City, and the third-largest city in North America. Los Angeles is known for its Mediterranean climate, ethnic and cultural diversity, Hollywood entertainment industry, and its sprawling metropolitan area. Los Angeles lies in a basin in Southern California, adjacent to the Pacific Ocean, with mountains as high as 10,000 feet. The city, which covers about 469 square miles, is the seat of Los Angeles County, the most populous county in the United States. The Los Angeles metropolitan area (MSA) is home to a population of 13.1 million, making it the second-largest metropolitan area in the nation after that of New York. Los Angeles has a diverse economy and hosts businesses in a broad range of professional and cultural fields. It also has the busiest container port in the Americas. In 2017, the Los Angeles metropolitan area had a gross metropolitan product of $1.0 trillion, making it the city with the third-largest GDP in the world, after Tokyo and New York City. The Entertainment Capital of the World The City of Los Angeles holds many distinctions. L.A. is the entertainment capital of the world, a cultural mecca boasting more than 100 museums, many of them world-class, and a paradise of idyllic weather. From tourist attractions like the Walk of Fame’s collection of stars (numbering more than 2,614 and growing by one or two a month) to career opportunities like those presented in the expanding tech industry, Los Angeles is the place to be. It is the only city in North America to have hosted the Summer Olympics twice - and by 2028 the third time. Downtown L.A. is the largest government center outside of Washington, D.C. Downtown Los Angeles Downtown Los Angeles (DTLA) is the central business district of Los Angeles, California, as well as a diverse residential neighborhood of some 85,000 people. Downtown, comprising diverse smaller areas such as Chinatown, Little Tokyo and the Arts District, offers renowned art museums, cutting-edge restaurants & hip bars. Modern high-rises mix with architectural landmarks. 11 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 3 LOCATION OVERVIEW University of Southern California Founded in 1880, the University of Southern California is one of the world’s leading private research universities and the oldest private research university in California. An anchor institution in Los Angeles, a global center for arts, technology, and international business, USC’s diverse curricular offerings provide extensive opportunities for interdisciplinary study and collaboration with leading researchers in highly advanced learning environments. In a comprehensive 2020 ranking, The Wall Street Journal and Times Higher Education ranked USC 18th among more than 1,000 public and private universities. Additionally, of the 150 universities surveyed in the Western U.S., USC ranks No. 3 among the top 25 schools. With more than 64,000 freshmen applications, USC received a record number of applicants for its fall freshman class this year; a 14% increase from the previous year. The University Park campus is in the University Park district of Los Angeles, 2 miles southwest of Downtown Los Angeles. The University Park campus is within walking distance to Los Angeles landmarks such as the Shrine Auditorium, and Los Angeles Memorial Coliseum which is operated and managed by the University. 12 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 3 LOCATION OVERVIEW 13 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 3 LOCATION OVERVIEW 14 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 3 LOCATION OVERVIEW 1. Los Angeles Trade Technical College 10 Min Walk 0.5 Miles From Subject Property 2. Mount Saint Mary’s University 10 Min Walk 0.5 Miles From Subject Property 3. Dignity Health California Hospital 20 Min Walk 1 Mile From Subject Property 4. Hoover Recreation Center 09 Min Walk 0.4 Miles From Subject Property 5. Norwood Street Elementary School 03 Min Walk 0.1 Miles From Subject Property 6. St Vincent’s School 12 Min Walk 0.6 Miles From Subject Property Walk Score: 80 2110 Bonsallo Ave, Los Angeles, CA 90007 15 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 3 LOCATION OVERVIEW 1. USC 07 Min Drive 1.5 Miles From Subject Property 2. STAPLES Center 05 Min Drive 1 Mile From Subject Property 3. LA Live 05 Min Drive 1.2 Miles From Subject Property 4. Natural History Museum 8 Min Drive 2.6 Miles From Subject Property 5. Banc of California Stadium 07 Min Drive 3.1 Miles From Subject Property 6. Expo Park / USC 07 Min Drive 2.3 Miles From Subject Property 16 2110 S. BONSALLO AVE, LOS ANGELES, CA 90007 SECTION 3 LOCATION OVERVIEW 01 02 03 USC STAPLES Center LA Live The University of Southern California is a leading Staples Center is a multi-purpose arena in Downtown L.A.
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