2310 & 2318 33rd Street - ApartmentBuildings.com
For Sale
12 Unit Apartment Santa Monica, CA
12 Unit Apartment 2310 – 2318 33rd Street Santa Monica, CA 90405 For More Information:
Investment Highlights •
Beautiful Single-Story Apartment Buildings
•
Excellent Condition - One & Two Bedrooms
•
Garage Parking In Rear of Property
•
Excellent Rents With Strong Cash Flow
•
Property is Always 100% Occupied
Location Highlights
Kevin L. Russell, CCIM
•
Located in Beautiful Residential Area
Senior Vice President 310 883 4477 [email protected] BRE License #01363068
•
Walking Distance to Trader Joe’s
•
Quite Residential Neighborhood
•
Near Retail Shops, Restaurants & Parks
•
Near SM College & Minutes to Beach
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.
Offering Summary Price Down Payment Loan Amount Loan Type Interest Rate Amortization Fixed Term Units Price Per Unit Rentable SF Price Per SF Year Built Lot Size Current Cap Rate Market Cap Rate Current GRM Market GRM Current Net Cash Flow After Debt Service Market Net Cash Flow After Debt Service Current Total Return Market Total Return
$6,200,000 (50%) $3,100,000 $3,100,000 Proposed New 3.50% 30 Years 5 Years 12 $516,667 8,796 $704.87 1940 28,829 SF 3.30% 4.63% 21.35 16.63 1.22% 3.88% 3.16% 5.81%
970 W. 190th Torrance, California 90502 Tel 310 532 9080 • Fax 310 634 0382 naicapital.com
FOR SALE
2310 & 2318 33rd Street Santa Monica, CA 90405
Unit Mix No. of Units
Unit Type
Approx. SF
Current Rents
Average Rent/SF
Monthly Income
Market Rents
Average Rent/SF
Monthly Income
9
1 Bed/1 Bath
620
$1,464 - $2140
$2.78
$15,518
$2,200
$3.55
$17,600
3
2 Bed/1 Bath
959
$2,089 - $2,940
$2.58
$7,418
$3,050
$3.18
$12,200
12
Totals/Averages
8,796
$1,911
$22,936
$2,483
$29,800
Operating Data INCOME Scheduled Rental Income Other Income Scheduled Gross Income Less: Expenses Net Operating Income Debt Service
Investment Overview
Net Cash Flow After Debt Service
NAI Capital, Inc., is pleased to offer this rare urban multi-family opportunity of 12 units in Santa Monica, California. This offer consist of (9) 1Bed/1Bath and (3) 2Bed/1Bath units in three single-story buildings, sitting on two separate parcels for a total of 28,829 SF, offering a well located asset in excellent condition with excellent cash flows. The property was constructed with a wood frame, stucco finish, with a flat roof (in excellent condition). The property has garage parking in the rear of the property, along with on-site laundry facilities. Santa Monica contains the best of the California coast, on the Westside of Los Angeles, a diverse business economy and an unequalled quality of life for residents. Within walking distance to Trader Joe’s & Shopping, and located near SM College & strong employment. Due in part to the growing demand for apartments in the Santa Monica area and strong historical occupancy, there is a significant upside opportunity for this property with strong appreciation growth. An investor can take advantage of this stabilized property by capturing the upside in rent growth and revitalization of the immediate neighborhood.
Principal Reduction Total Annual Return
EXPENSES Real Estate Taxes (1.2%) Insurance Electricity Repairs and Maintenance Pest Control Water & Trash Gas Gardening Professional Services Misc. & Reserves Total Expenses Expenses per Unit Expenses per SF % of EGI
Current $275,232 15,120 $290,352 85,500 $204,852 167,045 1.22% $37,807 60,051 3.16% $97,859
Current $74,400 3,000 1,500 2,500 100 2,200 600 300 300 600 $85,500 $7,125 $9.72 29.45%
Market $357,600 15,120 $372,720 85,500 $287,220 167,045 3.88% $120,175 60,051 5.81% $180,227
Market $74,400 3,000 1,500 2,500 100 2,200 600 300 300 600 $85,500 $7,125 $9.72 29.45%
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.
Kevin L. Russell, CCIM Senior Vice President 310 883 4477 • [email protected] BRE License #01363068
970 W. 190th Torrance, California 90502 Tel 310 532 9080 • Fax 310 634 0382 naicapital.com
12 Unit Apartment Santa Monica, CA
12 Unit Apartment 2310 – 2318 33rd Street Santa Monica, CA 90405 For More Information:
Investment Highlights •
Beautiful Single-Story Apartment Buildings
•
Excellent Condition - One & Two Bedrooms
•
Garage Parking In Rear of Property
•
Excellent Rents With Strong Cash Flow
•
Property is Always 100% Occupied
Location Highlights
Kevin L. Russell, CCIM
•
Located in Beautiful Residential Area
Senior Vice President 310 883 4477 [email protected] BRE License #01363068
•
Walking Distance to Trader Joe’s
•
Quite Residential Neighborhood
•
Near Retail Shops, Restaurants & Parks
•
Near SM College & Minutes to Beach
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.
Offering Summary Price Down Payment Loan Amount Loan Type Interest Rate Amortization Fixed Term Units Price Per Unit Rentable SF Price Per SF Year Built Lot Size Current Cap Rate Market Cap Rate Current GRM Market GRM Current Net Cash Flow After Debt Service Market Net Cash Flow After Debt Service Current Total Return Market Total Return
$6,200,000 (50%) $3,100,000 $3,100,000 Proposed New 3.50% 30 Years 5 Years 12 $516,667 8,796 $704.87 1940 28,829 SF 3.30% 4.63% 21.35 16.63 1.22% 3.88% 3.16% 5.81%
970 W. 190th Torrance, California 90502 Tel 310 532 9080 • Fax 310 634 0382 naicapital.com
FOR SALE
2310 & 2318 33rd Street Santa Monica, CA 90405
Unit Mix No. of Units
Unit Type
Approx. SF
Current Rents
Average Rent/SF
Monthly Income
Market Rents
Average Rent/SF
Monthly Income
9
1 Bed/1 Bath
620
$1,464 - $2140
$2.78
$15,518
$2,200
$3.55
$17,600
3
2 Bed/1 Bath
959
$2,089 - $2,940
$2.58
$7,418
$3,050
$3.18
$12,200
12
Totals/Averages
8,796
$1,911
$22,936
$2,483
$29,800
Operating Data INCOME Scheduled Rental Income Other Income Scheduled Gross Income Less: Expenses Net Operating Income Debt Service
Investment Overview
Net Cash Flow After Debt Service
NAI Capital, Inc., is pleased to offer this rare urban multi-family opportunity of 12 units in Santa Monica, California. This offer consist of (9) 1Bed/1Bath and (3) 2Bed/1Bath units in three single-story buildings, sitting on two separate parcels for a total of 28,829 SF, offering a well located asset in excellent condition with excellent cash flows. The property was constructed with a wood frame, stucco finish, with a flat roof (in excellent condition). The property has garage parking in the rear of the property, along with on-site laundry facilities. Santa Monica contains the best of the California coast, on the Westside of Los Angeles, a diverse business economy and an unequalled quality of life for residents. Within walking distance to Trader Joe’s & Shopping, and located near SM College & strong employment. Due in part to the growing demand for apartments in the Santa Monica area and strong historical occupancy, there is a significant upside opportunity for this property with strong appreciation growth. An investor can take advantage of this stabilized property by capturing the upside in rent growth and revitalization of the immediate neighborhood.
Principal Reduction Total Annual Return
EXPENSES Real Estate Taxes (1.2%) Insurance Electricity Repairs and Maintenance Pest Control Water & Trash Gas Gardening Professional Services Misc. & Reserves Total Expenses Expenses per Unit Expenses per SF % of EGI
Current $275,232 15,120 $290,352 85,500 $204,852 167,045 1.22% $37,807 60,051 3.16% $97,859
Current $74,400 3,000 1,500 2,500 100 2,200 600 300 300 600 $85,500 $7,125 $9.72 29.45%
Market $357,600 15,120 $372,720 85,500 $287,220 167,045 3.88% $120,175 60,051 5.81% $180,227
Market $74,400 3,000 1,500 2,500 100 2,200 600 300 300 600 $85,500 $7,125 $9.72 29.45%
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.
Kevin L. Russell, CCIM Senior Vice President 310 883 4477 • [email protected] BRE License #01363068
970 W. 190th Torrance, California 90502 Tel 310 532 9080 • Fax 310 634 0382 naicapital.com
