exposition park apartments - loopnet...master bedrooms with on-suite baths. all of the units are...

Exposition Park Apartments 4217 S Flower Street - Los Angeles 90037

A Fralin Commercial Exclusive Investment Offering3701 Stocker Street I Suite 410 I Los Angeles CA 90008 310.272.7626 I f: 310.277.1444

The information provided herein is from sources we believe are reli-able. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.

EXECUTIVE SUMMARY

- All 3+2 Unit Mix- Secure Gated Parking

- Laundry Hook-Ups On-Site- Significant Upside in Current Rents

- Individually Metered for Gas and Electric- Up and Coming Exposition Park Location

- Well Mainted and Updated Property- Modern Renovations in 3 of 4 Units

HigHligHts4217 s Flower st

Quadruplex (4-plex)41962 4,112 sf

6,004 sf

5019-028-0224lard2

ProPerty tyPe

# oF Units

year BUilt

BUilding size

land size

aPnParking

zoning

Exposition Park Apartments

Fralin Commercial, Inc.The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.

4217 S Flower Street - Los Angeles 90037

Investment Real Estate AssociatesThe information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.

CONFIDENTIALITY AGREEMENT Investment Real Estate AssociatesThe information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.


PROPERTY INFORMATION

Exposition Park Apartments is a mid 20th Century 4-plex apartment community found in the heart of Los Angeles.

The property is located on South Flower Street between Martin Luther King Jr Blvd and Vernon Avenue. Situated just 5 blocks south from one of L.A.’s most innovative stadium developments, L.A. Football Club Banc of California Stadium, opening in 2018. Residents are also minutes from both USC and the museums and event venues at Exposition Park, with easy access to both the 110 & 10 Fwys.

The building offers a highly desirable and profitable unit mix comprised of 4 3+2 units. Three of the 4 units have modern updates including either faux wood flooring, granite counters in kitchen, and renovated bathrooms - including master bedrooms with on-suite baths. All of the units are individually metered for gas & electric. The building also provides 4 secure gated parking spaces. Exposition Park Apartments is a two-story wood-frame stucco building built on a 6,004 square foot lot. The total rentable square footage is approximately 4,112.



PROPERTY PERSPECTIVES


AERIAL MAP Fralin Commercial, Inc.The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.



AERIAL MAP

Exposition Park Apts



PARCEL MAP Fralin Commercial, Inc.The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.

4217 S Flower St


EXPOSITION PARK INFORMATION

los angeles, ca

Exposition Park is a collection of world-class museums, educational and sport facilities and entertainment venues. Within the 160-acre campus, you can experience the fun of science, math and technology at the California

Science Center, learn about the diverse cultural experience at the California African American Museum or explore natural and cultural worlds at the Natural History Museum of Los Angeles County, or simply relax in the splendor of the City of Los Angeles Rose Garden.

The landmark Los Angeles Memorial Coliseum offers the excitement of world-class competition, the Los Angeles Football Club Banc of California Stadium will be the new cathedral of soccer and EXPO Center

is a hub of activity and resource for the whole community. http://expositionpark.ca.gov/

Exposition Park Entrance Sign

Exposition Park


LAFC BANC OF CALIFORNIA STADIUM DEVELOPMENT

INVESTING MILLIONS OF DOLLARS IN COMMUNITY• Over 1,200 jobs and a total output of $274.5 million dollars from construction• Over 1,800 full-time jobs for stadium and ancillary operations• $129 million dollars annually and $2.9 billion dollars over the next 30 years of

total economic output in the area• Significant increases to City, County and State tax revenue

IMPROVING LOCAL INFRASTRUCTURE• Develop streetscapes and lighting in both Exposition Park• Improve lighting and stadium adjacent infrastructure• Aesthetic beautification of areas• Increased security through activities and lighted areas

ADDITIONAL COMMUNITY BENEFITS• Increase available event and conference meeting space for community• Establishing several new dining options including quick-service, fast

casual, and fine-dining restaurants• Improve event safety and upgraded lighting surrounding the stadium

LAFC Banc of California Stadium @ Expo ParkLocation

Private InvestmentStadium Capacity

Public Open SpaceGround-Breaking

Opening

Exposition Park (Los Angeles)$350,000,00022,000 Seats140,000 SQ. FT.August 23, 20162018

LAFC Banc of California Stadium

http://bancofcaliforniastadium.com/learnmore/index.html

http://bancofcaliforniastadium.com/learnmore/index.html


RENT COMPARABLE SUMMARY

Address City 3+2

A 4856 S Grand Ave 90037 Los Angeles, CA $2,100

B 854 W 41st St 90037 Los Angeles, CA $2,195

C 240 W 47th St 90037 Los Angeles, CA $2,295

AVERAGES $2,197

SUBJECT $1,950

A. Laminate Wood Floors, Master w/ On-Suite BathroomGated Parking, W/D Hook-Up

B. 1000 SF, Granite Counters, Laminate Wood Floors, W/D Hook-Up, No Parking

C. Remodeled Kitchens & Baths, Laminate Wood Floors, New Appliances, W/D In-Unit, 1 Covered Parking Space


RENT COMPARABLE MAP

Exposition Park Apts

4217 S Flower Street, Los Angeles, CA 90037


310.359.0460

[email protected] Julian B. Curry


FINANCIAL ANALYSIS

1st LOAN MARKET

FINANCIAL INDICATORS: # Units Type Avg. Rent Income Avg. Rent Income

Price: $1,050,000 *Loan Quote 4 3+2 $1,539 $6,156 $1,950 $7,800

Down Payment: $1,050,000 Available

Down Payment %: 100% Upon Request

Current CAP: 3.43%

Market CAP: 5.22% Laundry:

Current GRM: 14.21

Market GRM: 11.22 $6,156 $7,800

Cost Per Sq. Ft.: $255

Cost Per Unit: $262,500

Cash on Cash Return: 3.43%

Exp. Per Unit: $8,534

Exp. Per Sq. Ft.: $8.30 ESTIMATED ANNUALIZED EXPENSES: ESTIMATED ANNUALIZED OPERATING DATA:

Taxes: $13,125 CURRENT MARKET

Insurance: $2,200 Scheduled Gross Income: $73,872 $93,600

DWP / Gas: $5,655 Less Vacancy: 5.0% ($3,694) ($4,680)

Number of Units 4 Exterminater: $600 Gross Operating Income: $70,178 $88,920

Age: 1962 Maint. & Repairs: $7,626 (Est.) Less Expenses: 46.2% ($34,135) ($34,135)

Lot Size: 6,004 Gardener: $420 (Est. @ $35/mth) Net Operating Income: $36,044 $54,785

Bld Gross SF: 4,112 Miscellaneous: $600 (Est. @ $150/unit) Less Loan Payments: $0 $0

Parking Spaces: 4 Management: $3,509 (Actual @ 5% of GOI)

License/SCEP Fees/Other: $400 (Est. @ $100/unit) Pre-Tax Cash Flow: $36,044 $54,785

Total Expenses: $34,135 Percentage Return: 3.4% 5.2%

(Est.)

PROPERTY ABSTRACT:

Total Monthly Income:

CURRENT

(Est. @ 1.25%)

(Est.)

(Est.)

3701 Stocker Street , Suite 410, Los Angeles 90008


RENT ROLL

Unit Type Rent Market

Apt 3** 3+2 $1,950 $1,950

Apt 6 3+2 $984 $1,950

Apt 7* 3+2 $1,400 $1,950

Apt 2* 3+2 $1,822 $1,950

Total: $6,156 $7,800

Annual Rent: $73,872 $93,600

* = Section 8

** = Vacant


CONTACT INFORMATION

Julian B. [email protected]

BRE# 01925848

310.359.04603701 Stocker Street , Suite 410, Los Angeles 90008

exposition park apartments - loopnet...master bedrooms with on-suite baths. all of the units are...

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