losness group – your local apartment specialist · [email protected] 3131 s bascom ave. ......
TRANSCRIPT
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
2022 Alum Rock Ave‐San Jose CA 95116
Losness Group – Your local Apartment SpecialistFamily owned and operated since 2006
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Disclosures
• The information contained in the following Marketing Presentation is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Losness Group and should not be made available to any other person or entity without the written consent of Losness Group. This Marketing Brochure is intended to be used for the sole purpose of preliminary evaluation.
• This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Losness Group has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
• The information contained in this Marketing Presentation has been obtained from sources we believe to be reliable; however, Losness Group has not verified, and will not verify, any of the information contained herein. Losness Group makes no representation or warranty regarding the property, including but not limited to: income, expenses, or financial performance (past, present or future); size, square footage, condition of property. Losness Group has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Any potential buyer must independently investigate and verify all information set forth in Marketing Presentation and is solely responsible for all costs and expenses incurred in reviewing the Marketing Presentation and/or investigating and evaluating the property.
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Value Assessment
• 2022 Alum Rock Ave San Jose CA 95116:
• Average PPSF: $557.34=$1,058,946
• AVERAGE YEARLY LPPSF: $32.57=$61,883
• AVERAGE CAP RATE: 5.03%
• Property Value Range: $1,150,000-$1,275,000
• Property Value: $1,200,000
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Table of Contents
Section 1Property Description
Section 2Investment Summary & Analysis
Section 3Sales Comparables
Section 4Market Overview
Section 5Losness Group Marketing and Resume
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Property Description
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Property Profile
Zoning R2
Foundation Concrete Perimeter
Framing Wood
Exterior Wood Panel
Parking Surface Concrete
Roof Composition
Parking Garage/Off Street/Street
Location San Jose
Year Built 1948
Property Address 2022 Alum Rock Ave
Major Cross Street N Jackson Ave
Parcel Number 230-21-041
Number of Units Possible Two Store Fronts
Number of Buidings 1
Number of Stories One Story Building
Unit Mix 2
Gross Living Area 1,632 SF
Lot Size 6,098 SF
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
95116 Zip Code Map
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Local Map
728 Drake St. San Jose 951251091-95 Myrtle St. San Jose CA 95126SUBJECT PROPERTY
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Regional Map
356-358 Morse Ave Sunnyvale CA 94085728 Drake St. San Jose 95125
702-704 Borello Way Mt. View CA 94041
1091-95 Myrtle St. San Jose CA 95126
SUBJECT PROPERTY
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Parcel Map
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Aerial Map
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Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Exterior Photos
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Exterior Photos
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Investment Summary & Analysis
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Property Highlights
• Retail Storefront Great Location
• Two Separate Office Spaces
• Private Parking in Back
• Street Front Guest Parking
• Warehouse/Garage Attached
• Storage Unit in Back
• Office Space 1,900 Square Feet
• Duel Entrance for Warehouse
• Bathroom/Kitchen Space
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Location Overview
As the Hub of Silicon Valley, San Jose is a populardestination for business travelers and tourist. Visitorsfind many amenities in the City's revitalizeddowntown area including fine accommodations andworld class restaurants and shops. Founded onNovember 29, 1777, as El Pueblo de San Jose deGuadalupe, San José was California’s first civiliansettlement. San José was also the site of the first statecapital. With the booming tech industry in the 1990s,San José earned its moniker as the Capital of SiliconValley. With more than one million residents, San Joséis the largest city in Northern California and the 10thlargest city in the United States.
INCORPORATED: March 27, 1850 (as City of San Jose)Incorporated area = 180.2 square miles
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Sales Comparables
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Leasable Square Feet Comparables2230‐2232 Alum Rock Ave‐San Jose 95116
1530 Alum Rock Ave‐San Jose 95116
Lease Price Per/Year: $36.00
Equivilency to Subject: $68,400
Price/SF $3.00Equivilency to Subject: $5,700
Gross Leasable SF: 5,889 Year Built: 2013
Lease Price Per/Year: $24.00
Equivilency to Subject: $45,600
Price/SF $2.00Equivilency to Subject: $3,800
Gross Leasable SF: 1,500 Year Built: 1965
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Leasable Square Feet Comparables140‐160 S Jackson Ave‐San Jose 95116
2652 Alum Rock Ave‐San Jose 95116
Lease Price Per/Year: $24.00
Equivilency to Subject: $45,600
Price/SF $2.00Equivilency to Subject: $3,800
Gross Leasable SF: 1,828 Year Built: 1986
Lease Price Per/Year: $45.00
Equivilency to Subject: $85,500
Price/SF $3.75Equivilency to Subject: $7,125
Gross Leasable SF: 985 Year Built: 1987
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Leasable Square Feet Comparables158 S King Rd‐San Jose 95116
1747‐1795 Alum Rock Ave‐San Jose 95116
Lease Price Per/Year: $33.00
Equivilency to Subject: $62,700
Price/SF $2.75Equivilency to Subject: $5,225
Gross Leasable SF: 1,545 Year Built: 2013
Lease Price Per/Year: $30.00
Equivilency to Subject: $57,000
Price/SF $2.50Equivilency to Subject: $4,750
Gross Leasable SF: 1,300 Year Built: 1969
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Active Comparables
1152 E Julian St‐San Jose CA 95116
1694‐1696 Alum Rock Ave‐San Jose 95116
Property: Retail CAP Rate: 6%
List Price: $1,288,888 Price/SF: $1,145.68
SqFt/Lot: $1,125/5,655 Year Built: 1968
3 Rentable Units, Rents: $4,673; $1,429; $1,100. Total Income: Monthly=$7,202; Anual=$86,434. NOI=$74,640
Property: Retail CAP Rate: No Info
List Price: $1,400,000 Price/SF: $1,204.82
SqFt/Lot: $1,162/18,700 Year Built: 1978
No Income Information
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Sold Comparables
1636‐1638 Alum Rock Ave‐San Jose 95116
1525‐1527 Alum Rock Ave‐San Jose 95116
Type: Retail Storefront COE Date: 9/21/2017
List Price: $1,825,000 Price/SF: $329.69
Sales Price: $1,750,000 Year Built: 1979
Sq.Ft.=5,308/Lot=10,960. LPPSF=$2.60. Days on Market: 120 Days. Escrow Legnth: 70 Days. Tenants: Alum Rock Beauty Supply; Popular Bakery.
Type: Retail Storefront COE Date: 5/27/2017
List Price: Not Provided Price/SF: $316.33
Sales Price: $1,550,000 Year Built: 1934
Sq.Ft.=4,900/Lot=31,810. LPPSF=$2.70. Days on Market: Unknown. Escrow Legnth: 12 Days. Tenants: Nuevo Kora. CAP Rate: 6.45%. Expenses=$15,481; Income:$99,923
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Sold Comparables
2874 Alum Rock Ave‐San Jose 95127
3159 Alum Rock Ave‐San Jose 95127
Type: Retail Storefront COE Date: 5/4/2018
List Price: $1,800,000 Price/SF: $474.14
Sales Price: $1,650,000 Year Built: 1963
Sq.Ft.=3,480/Lot=20,473. LPPSF=$2.98. Days on Market: 110 Days. Escrow Legnth: 60 Days. Tenants: Crackin Crab Corp; Pho 54. NOI=$80,111; No Expenses; CAP: 4.85%
Type: Retail Storefront COE Date: 2/23/2018
List Price: Not Provided Price/SF: $348.94
Sales Price: $1,640,000 Year Built: 1946
Sq.Ft.=4,700/Lot=11,761. LPPSF=$1.90. Days on Market: Unknown. Escrow Legnth: Unknown. Tenants: Benjamin Moore Paints. No Financial Information.
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Sold Comparables
1688 Alum Rock Ave‐San Jose 95116
855 N 13th St‐San Jose 95112
Type: Retail Storefront COE Date: 3/26/2018
List Price: $1,250,000 Price/SF: $924.50
Sales Price: $1,200,000 Year Built: 1968
Sq.Ft.=1,298/Lot=10,960. LPPSF=$3.00. Days on Market: 8 Months. Escrow Legnth: 60 Days. Tenants: Yummy Trieu; Chef P’s. NOI=$50,400; No Expenses; CAP: 4.20%
Type: Retail Storefront COE Date: 2/1/2018
List Price: $1,400,000 Price/SF: $908.40
Sales Price: $1,200,000 Year Built: 1940
Sq.Ft.=1,321/Lot=16,086. LPPSF=$2.70. Days on Market: 56 Days. Escrow Legnth: 50 Days. Tenants: Savoy Bar & Grill. NOI: $65,064. Expenses: $12,950. CAP: 5.43%
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
SUBJECT PROPERTY
Aaron Losness Broker, MBA, CCIMTel (408) 824‐1112 BRE No. 01342116 [email protected]
3131 S Bascom Ave. Suite 230Campbell, CA 95008
2022 Alum Rock Ave San Jose 95116
www.losnessgroup.com
Gregory StephensResidential/Comm./Multi UnitCell (408)805‐2101BRE No. [email protected]
Market Overview