1833 17th Street OM.pdf
1833 17th St. Santa Monica, CA 90404
Table of Contents 1
Property Overview
2
Sales Comparables
3
Financial Analysis
4
Demographics
1833 17th St. Santa Monica, CA 90404
Property Overview
3
1833 17th St. Santa Monica, CA 90404
Property Description Rosano Partners is pleased to present a 6 unit property located a block from Santa Monica College and 2mi from Santa Monica beach. The building contains a favorable mix of units, the majority being 2 BD and 3 BD units, and also includes a Back House. Our listing provides easy access to the 10 Fwy and is close to award-winning restaurants and shopping.
Price/Bldg. SF
$396.77
Leasable Area
4,398 SF
Price/Land SF
$224.44
Lot Size
7,775 SF
CAP Rate
Current: 4.56% Pro Forma: 7.29%
Year Built
1956
1833 17th St. Santa Monica, CA 90404
Property Value Add
1833 17th St. Santa Monica, CA 90404
Location Overview
1833 17th St. Santa Monica, CA 90404
Location Description The subject property is located between Pico & Olympic Blvd on 17th Street. The property is conveniently situated a block from Santa Monica College with nearby access to the 10 Freeway. Pico Park is located a block to the Southwest.
1833 17th St. Santa Monica, CA 90404
Sales Comparables
1833 17th St. Santa Monica, CA 90404
Sales Comparables - Overview 3 S
1
2
4 S. No
Address
Year Built
Price/Unit
S
1833 17th St.
1956
$290,833
1
1933 17th St.
1951
$333,000
2
1963 17th St.
1959
$279,167
3
2231 Virginia Ave.
1963
$356,000
4
1868 10th St.
1959
$291,667
Price/Unit $290,833.00
1833 17th St.
$333,000.00
1933 17th St.
$356,000.00 $279,167.00
1963 17th St.
2231 Virginia Ave.
$291,667.00
$314,958.50
1868 10th St.
Average
9
1833 17th St. Santa Monica, CA 90404
Sales Comparable 1 Notes
1933 17th St.
•Same street as subject property
Santa Monica, CA 90404
•Less units, similar unit mix
Closing Date
04/11/2014
Building Size
4,256 SF
•Similar age building as subject
Lot Size
7,749 SF
•Significantly higher price/unit
Year Built Units 4:(2 + 1) 1:(3 +2) Sale Price $1,665,000
Parking Price/SF Bldg.
$391.21
Price/Unit
Price/SF Lot
$214.86
$333,000
1951 5
than subject property
1833 17th St. Santa Monica, CA 90404
Sales Comparable 2 Notes
1963 17th St.
•Same # of units / Worse mix
Santa Monica, CA 90404 Closing Date
10/21/2013
Building Size
4,408 SF
Lot Size
7,292 SF
•Lower NOI, Higher expenses •Similar age
Year Built Units 6: (2 + 1) Sale Price $1,675,000
Parking Price/SF Bldg.
$379.99
Price/Unit
Price/SF Lot
$229.70
$279,167
•Less SQFT of land
1959 N/A
1833 17th St. Santa Monica, CA 90404
Sales Comparable 3 Notes
2231 Virginia Ave.
•Higher price per unit
Santa Monica, CA 90404 Closing Date
10/03/2013
Building Size
6,900 SF
Lot Size
7,948 SF
Year Built Units 4:(2+1) 1:(3+2) Sale Price $1,780,000
Parking Price/SF Bldg.
$257.97
Price/Unit
Price/SF Lot
$223.96
$356,000
1963 NA
•Significantly lower NOI •1.5x higher annual expenses •Less units
1833 17th St. Santa Monica, CA 90404
Sales Comparable 4 Notes
1868 10th St.
•Same # of units / Similar mix
Santa Monica, CA 90404 Closing Date
09/16/2013
•Previous sale of Comp property
Building Size
6,004 SF
was a year apart of previous sale
Lot Size
7,492 SF
of Subject property –$825K;
Year Built Units 4:(2+1) 2:(3+2) Sale Price $1,750,000
Parking Price/SF Bldg.
$291.47
Price/Unit
Price/SF Lot
$233.58
$291,667
1959 8
$828K price respectively
1833 17th St. Santa Monica, CA 90404
Financial Analysis
1833 17th St. Santa Monica, CA 90404
Rent Roll and Annualized Expenses
1833 17th St. Santa Monica, CA 90404
5 Year Cash Flow Analysis
1833 17th St. Santa Monica, CA 90404
Financial Analysis
1833 17th St. Santa Monica, CA 90404
Demographics
1833 17th St. Santa Monica, CA 90404
Location Demographics
1833 17th St. Santa Monica, CA 90404
Location Demographics
1833 17th St. Santa Monica, CA 90404
Presented By:
700 S. Flower St. Suite 2920 Los Angeles, CA 90017 Tel: 213.802.0300 rosanopartners.com
Table of Contents 1
Property Overview
2
Sales Comparables
3
Financial Analysis
4
Demographics
1833 17th St. Santa Monica, CA 90404
Property Overview
3
1833 17th St. Santa Monica, CA 90404
Property Description Rosano Partners is pleased to present a 6 unit property located a block from Santa Monica College and 2mi from Santa Monica beach. The building contains a favorable mix of units, the majority being 2 BD and 3 BD units, and also includes a Back House. Our listing provides easy access to the 10 Fwy and is close to award-winning restaurants and shopping.
Price/Bldg. SF
$396.77
Leasable Area
4,398 SF
Price/Land SF
$224.44
Lot Size
7,775 SF
CAP Rate
Current: 4.56% Pro Forma: 7.29%
Year Built
1956
1833 17th St. Santa Monica, CA 90404
Property Value Add
1833 17th St. Santa Monica, CA 90404
Location Overview
1833 17th St. Santa Monica, CA 90404
Location Description The subject property is located between Pico & Olympic Blvd on 17th Street. The property is conveniently situated a block from Santa Monica College with nearby access to the 10 Freeway. Pico Park is located a block to the Southwest.
1833 17th St. Santa Monica, CA 90404
Sales Comparables
1833 17th St. Santa Monica, CA 90404
Sales Comparables - Overview 3 S
1
2
4 S. No
Address
Year Built
Price/Unit
S
1833 17th St.
1956
$290,833
1
1933 17th St.
1951
$333,000
2
1963 17th St.
1959
$279,167
3
2231 Virginia Ave.
1963
$356,000
4
1868 10th St.
1959
$291,667
Price/Unit $290,833.00
1833 17th St.
$333,000.00
1933 17th St.
$356,000.00 $279,167.00
1963 17th St.
2231 Virginia Ave.
$291,667.00
$314,958.50
1868 10th St.
Average
9
1833 17th St. Santa Monica, CA 90404
Sales Comparable 1 Notes
1933 17th St.
•Same street as subject property
Santa Monica, CA 90404
•Less units, similar unit mix
Closing Date
04/11/2014
Building Size
4,256 SF
•Similar age building as subject
Lot Size
7,749 SF
•Significantly higher price/unit
Year Built Units 4:(2 + 1) 1:(3 +2) Sale Price $1,665,000
Parking Price/SF Bldg.
$391.21
Price/Unit
Price/SF Lot
$214.86
$333,000
1951 5
than subject property
1833 17th St. Santa Monica, CA 90404
Sales Comparable 2 Notes
1963 17th St.
•Same # of units / Worse mix
Santa Monica, CA 90404 Closing Date
10/21/2013
Building Size
4,408 SF
Lot Size
7,292 SF
•Lower NOI, Higher expenses •Similar age
Year Built Units 6: (2 + 1) Sale Price $1,675,000
Parking Price/SF Bldg.
$379.99
Price/Unit
Price/SF Lot
$229.70
$279,167
•Less SQFT of land
1959 N/A
1833 17th St. Santa Monica, CA 90404
Sales Comparable 3 Notes
2231 Virginia Ave.
•Higher price per unit
Santa Monica, CA 90404 Closing Date
10/03/2013
Building Size
6,900 SF
Lot Size
7,948 SF
Year Built Units 4:(2+1) 1:(3+2) Sale Price $1,780,000
Parking Price/SF Bldg.
$257.97
Price/Unit
Price/SF Lot
$223.96
$356,000
1963 NA
•Significantly lower NOI •1.5x higher annual expenses •Less units
1833 17th St. Santa Monica, CA 90404
Sales Comparable 4 Notes
1868 10th St.
•Same # of units / Similar mix
Santa Monica, CA 90404 Closing Date
09/16/2013
•Previous sale of Comp property
Building Size
6,004 SF
was a year apart of previous sale
Lot Size
7,492 SF
of Subject property –$825K;
Year Built Units 4:(2+1) 2:(3+2) Sale Price $1,750,000
Parking Price/SF Bldg.
$291.47
Price/Unit
Price/SF Lot
$233.58
$291,667
1959 8
$828K price respectively
1833 17th St. Santa Monica, CA 90404
Financial Analysis
1833 17th St. Santa Monica, CA 90404
Rent Roll and Annualized Expenses
1833 17th St. Santa Monica, CA 90404
5 Year Cash Flow Analysis
1833 17th St. Santa Monica, CA 90404
Financial Analysis
1833 17th St. Santa Monica, CA 90404
Demographics
1833 17th St. Santa Monica, CA 90404
Location Demographics
1833 17th St. Santa Monica, CA 90404
Location Demographics
1833 17th St. Santa Monica, CA 90404
Presented By:
700 S. Flower St. Suite 2920 Los Angeles, CA 90017 Tel: 213.802.0300 rosanopartners.com
