EXCLUSIVE MULTI-FAMILY OFFERING CAMERON SAMIMI 532 S. FLOWER STREET 310.259.7556 [email protected] INGLEWOOD, CA 90301 5 UNITS $1,350,000 EXCLUSIVE MULTI-FAMILY OFFERING TABLE OF CONTENTS 532 S. FLOWER STREET INGLEWOOD, CA 90301 THE PROPERTY ....................................................................................................................3 PROPERTY OVERVIEW 4 INVESTMENT HIGHLIGHTS 6 PROPERTY PHOTOGRAPHS .............................................................................................7 THE FINANCIALS ..............................................................................................................10 RENT ROLL 11 FINANCIAL SUMMARY 12 SALES COMPARABLES 13 SALES COMPARABLES MAP 14 THE LOCATION .................................................................................................................15 INGLEWOOD OVERVIEW 16 INGLEWOOD PROJECTS 17 DISCLAIMER AND CONFIDENTIALITY AGREEMENT 20 SAMIMI INVESTMENTS • 2 EXCLUSIVE MULTI-FAMILY OFFERING 532 S. FLOWER STREET THE PROPERTY INGLEWOOD, CA 90301 SAMIMI INVESTMENTS • 3 EXCLUSIVE MULTI-FAMILY OFFERING PROPERTY OVERVIEW 532 S. FLOWER STREET INGLEWOOD, CA 90301 Lyon Stahl is pleased to present this excellent multi family opportunity at 532 S. Flower Street, Inglewood, CA. The property is a legal 4-unit, which includes a non conforming 5th unit. This spacious asset located in the heart of Inglewood has one 3-bedroom/1-bath unit, one 2-bedroom/1-bath unit, and three 1-bedroom/1-bath units. The units feature hardwood floors, new paint, spacious layouts, and beautiful landscaping. Below market rents allow for a very achievable market cap at 6.74% CAP. Situated within steps from the $2.6 billion Los Angeles NFL Stadium, 532 S. Flower Street is located in the most highly sought after neighborhood of Inglewood. The stadium is already expected to host the Super Bowl in 2022 and the Summer Olympics in 2028. The building features 4,424 Sq.Ft of living space, which sits on a massive, 9,627 Sq.Ft lot. This is a perfect value-add opportunity for any new owner/investor looking to own property in the heart of the future of Inglewood. SAMIMI INVESTMENTS • 4 EXCLUSIVE MULTI-FAMILY OFFERING PROPERTY OVERVIEW 532 S. FLOWER STREET INGLEWOOD, CA 90301 PRICE $1,350,000 ....................................................................................... ADDRESS 532 S. Flower Street ....................................................................................... CITY, STATE, ZIP Inglewood, CA 90301 ....................................................................................... COUNTY Los Angeles YEAR BUILT 1928 ....................................................................................... NUMBER OF UNITS 5 ....................................................................................... BUILDING SIZE 4,424 SF ....................................................................................... LOT SIZE 9,627 SF CURRENT CAP 3.81% ....................................................................................... CURRENT GRM 16.79 ....................................................................................... MARKET CAP 6.74% ....................................................................................... MARKET GRM 11.14 ....................................................................................... UNIT MIX (1) 3-bed + 1-bath, (1) 2-bed + 1-bath, (3) 1-bed + 1-bath SAMIMI INVESTMENTS • 5 EXCLUSIVE MULTI-FAMILY OFFERING 532 S. FLOWER STREET INVESTMENT HIGHLIGHTS INGLEWOOD, CA 90301 HIGHLIGHTS: • Located within steps to the $2.8 billion Los Angeles NFL Stadium • Value Add Property with over 33% upside in rent • Separately Metered for Gas and Electric • Near 10,000 Sq.Ft. Lot • Hardwood floors, new paint, spacious layouts featured in units • Beautifully landscaped scenery • Can obtain 30-year fixed financing SAMIMI INVESTMENTS • 6 SAMIMI INVESTMENTS • 7 SAMIMI INVESTMENTS • 8 SAMIMI INVESTMENTS • 9 EXCLUSIVE MULTI-FAMILY OFFERING 532 S. FLOWER STREET THE FINANCIALS INGLEWOOD, CA 90301 SAMIMI INVESTMENTS • 10 EXCLUSIVE MULTI-FAMILY OFFERING RENT ROLL 532 S. FLOWER STREET INGLEWOOD, CA 90301 UNIT # UNIT TYPE ACTUAL RENT MARKET RENT NOTES 1 3 Bedroom + 1 Bath $2,100 $2,800 2 2 Bedroom + 1 Bath $1,300 $2,200 Non Conforming 3 1 Bedroom + 1 Bath $1,050 $1,700 4 1 Bedroom + 1 Bath $1,250 $1,700 5 1 Bedroom + 1 Bath $1,000 $1,700 MONTHLY TOTALS $6,700 $10,100 ANNUALIZED TOTALS $80,400 $121,200 SAMIMI INVESTMENTS • 11 EXCLUSIVE MULTI-FAMILY OFFERING FINANCIAL SUMMARY 532 S. FLOWER STREET INGLEWOOD, CA 90301 PRICING SUMMARY ANNUALIZED OPERATING DATA CURRENT RENTS MARKET RENTS LIST PRICE $1,350,000 SCHEDULED GROSS INCOME $80,400 $121,200 ....................................................................................... ...................................................................................................................................................................... DOWN PAYMENT 55.0% $742,500 ....................................................................................... VACANCY RATE RESERVE $2,412 3%1 $3,636 3%1 ...................................................................................................................................................................... .......................................................................................NUMBER OF UNITS 5 GROSS OPERATING INCOME $77,988 $117,564 .......................................................................................COST PER UNIT $270,000 ...................................................................................................................................................................... CURRENT GRM 16.79 EXPENSES $26,543 33%1 $26,543 22%1 ....................................................................................... ...................................................................................................................................................................... MARKET GRM 11.14 NET OPERATING INCOME $51,445 $91,021 ....................................................................................... ...................................................................................................................................................................... CURRENT CAP 3.81% ....................................................................................... LOAN PAYMENTS $37,809 $37,809 ...................................................................................................................................................................... .......................................................................................MARKET CAP 6.74% PRE CASH TAX FLOWS $13,636 1.84%2 $53,212 7.17%2 .......................................................................................YEAR BUILT 1928 ...................................................................................................................................................................... APPROX. LOT SIZE 9,627 PRINCIPAL REDUCTION $9,458 $9,458 ....................................................................................... ...................................................................................................................................................................... 2 2 .......................................................................................APPROX. GROSS RSF 4,424 TOTAL RETURN BEFORE TAXES $23,094 3.11% $62,670 8.44% COST PER NET RSF: $305.15 1As a percent of Scheduled Gross Income 2As a percent of Down Payment PROPOSED FINANCING SCHEDULED INCOME CURRENT INCOME MARKET INCOME FIRST LOAN AMOUNT $607,500 AMORT: 30 # OF UNITS BR/BA MO. RENT MO. RENT/UNIT ......................................................................................... TERMS 4.700% FIXED: 5 ......................................................................................... 1 3+1 $2,100 $2,800 PAYMENT $3,151 DCR: 1.36 1 2+1 $1,300 $2,200 1 1+1 $1,050 $1,700 1 1+1 $1,250 $1,700 ANNUALIZED EXPENSES 1 1+1 $1,000 $1,700 ............................................................................................................................... ....................................... .........................................................................................NEW TAXES $16,875 MAINTENANCE. (5%) $4,020 ......................................................................................... TOTAL SCHEDULED RENT $6,700 $10,100 .........................................................................................INSURANCE ($.35/SF) $1,548 LAUNDRY $0 $0 .........................................................................................UTILITIES ($700/unit/year) $3,500 GARAGES (4 garages + 2 spaces) $0 $0 LANDSCAPING ($50/mo) $600 MONTHLY SCHEDULED GROSS INCOME $6,700 $10,100 ANNUALIZED SCHEDULED GROSS INCOME $80,400 $121,200 TOTAL EXPENSES $26,543 Utilities Paid by Tenant: Gas & Eleactric .......................................................................................... .........................................................................................EXPENSES AS %/SGI 33.01% .........................................................................................PER NET SQ. FT. $2.76 PER UNIT $5,309 SAMIMI INVESTMENTS • 12 EXCLUSIVE MULTI-FAMILY OFFERING SALES COMPARABLES 532 S. FLOWER STREET INGLEWOOD, CA 90301 ADDRESS COE Units Year Built Sale Price RSF GRM CAP PPSF PPD 1022 Larch St. 1 3/7/18 5 1962 $1,305,000