memorandum $850,000 · torrance, ca 90501 offering memorandum $850,000 woody stahl (310) 710-3829...
TRANSCRIPT
1746 -1748 MARTINA AVETORRANCE, CA 90501
OfferingMemorandum $850,000
WOODY STAHL
(310) [email protected] - 01399621
Virtual Tour(310) [email protected] - 01717818
BRETT LYON
Video Tour HereVideo Tour
Virtual Tour
1746-1748 MARTINA AVETORRANCE, CA 90501
2 UNITTable ofContents
IndexProperty Overview
Financial Overview
Property Photography
Comparables
Area Overview
Aerial Map
Disclaimer
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Address StreetCity, State Zip
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1746 -1748 MARTINA AVE,TORRANCE, CA 90501
PropertyOverview
1746-1748 MARTINA AVETORRANCE, CA 90501
2 UNITPropertyOverview
Property Summary
Price $850,000
Address 1746 - 1748 Martina Ave
City, State, Zip Torrance
County Los Angeles
Year Built 1923
Number Of Units 2
Building Size 2,390 SF
Lot Size 5,023 SF
Cap Rate 3.07%
Pro Forma Cap Rate 3.48%
Grm 20.27
Pro Forma Grm 18.66
Price / Bldg Sf $572.39
Price / Lot Sf $168.71
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1746-1748 MARTINA AVETORRANCE, CA 90501
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1746-1748 Martina Ave, Torrance 90501- 2 Units | $850,000
- Well-Maintained Duplex Consisting of (1) 1-Bed/2-Bath with a Den & (1) 1-Bed/1-Bath Unit
- One Unit (1-Bed/2-Bath) Can Be Delivered Vacant
- Property Features (3) 1-Car Garages & Laundry Hookups in Each Unit
- 1,485 SF of Living Space Situated on a 5,038 SF Lot with a Fenced-In Backyard
- Separately Metered For Gas & Electric And Recently Installed Orbit Irrigation System
Lyon | Stahl Investment Real Estate is pleased to present 1746-1748 Martina Ave, a duplex located in the charming Old Town Torrance District. This well-maintained duplex makes up a total of 1,485 SF of living space situated on a 5,038 SF parcel of land. 1746-1748 Martina Ave offers a great unit mix, consisting of: (1) 1 Bed/2 Bath with a Den & (1) 1 Bed/1 Bath Unit. Both units come separately metered for gas & electric, have access to a fenced-in backyard, and include laundry hookups. The property also features (3) one-car garages and a newly installed Orbit irrigation system.
1746-1748 Martina Ave is an excellent opportunity for a potential investor to obtain 30 year fixed residential financing while rates are at a historical low and benefit from long term appreciation in the South Bay.
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Address StreetCity, State Zip
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1746 -1748 MARTINA AVE,TORRANCE, CA 90501
FinancialOverview
1746-1748 MARTINA AVETORRANCE, CA 90501
2 UNIT
Property Summary
ADDRESS 1746 - 1748 Martina Ave, Torrance. 90501 YEAR BUILT 1923
DOWN PAYMENT 30% ($255,000) PARKING (2) 1-Car Garages
NUMBER OF UNITS 2 CURRENT NOI $26,079
COST PER UNIT $425,000 PRO FORMA NOI $29,571
LOT SIZE 5,038 SF CURRENT CAP RATE 3.07%
GROSS RENTABLE SF 1,485 SF PRO FORMA CAP RATE 3.48%
PRICE PER BLDG SF $572.39 CURRENT GRM 20.27
PRICE PER LAND SF $168.71 PRO FORMA GRM 18.66
Proposed Financing
LOAN AMOUNT $595,000 LOAN-TO-VALUE 70%
DOWN PAYMENT $255,000 AMORTIZATION 30-YEAR
INTEREST RATE 2.85% LOAN TERM 5-YEAR FIXED
MONTHLY PAYMENT $2,461 PROPOSED/EXISTING PROPOSED
ANNUAL PAYMENT $29,532 DEBT COVERAGE RATION (DCR) 0.86
Price $850,000
FinancialOverview
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1746-1748 MARTINA AVETORRANCE, CA 90501
2 UNIT
Annualized Operating Data
CURRENT ACTUALS PRO FORMA RENT
GROSS SCHEDULED INCOME $41,940 - $45,540 -
VACANY RATE RESERVE $1,258 3% $1,366 3%
GROSS OPERATING INCOME $40,682 - $4,174 -
EXPENSES $14,603 35% $14,603 32%
NET OPERATING INCOME $26,079 - $29,571 -
LOAN PAYMENTS $29,528 - $29,528 -
PRE TAX CASH FLOWS $(3,449) -1.35% $(43) 0.02%
PRINCIPAL REDUCTION $12,736 - $12,736 -
TOTAL RETURN BEFORE TAXES $9,287 3.64% $12,779 5.01%
Expense Summary
*ESTIMATED Per Unit
NEW TAXES (NEW ESTIMATE) $9,950
MAINTENANCE (3%) $1,258
INSURANCE $594
UTILITIES ($800/unit/year) $1,600
LANDSCAPING ($100/mo) $ 1,200
TOTAL EXPENSES $14,603
EXPENSES AS %/SGI 34.82%
EXPENSE PER SF $2.90
EXPENSE PER UNIT $7,301
Scheduled Income
CURRENT MARKET
TOTAL SCHEDULED RENT $3,495 $3,795
LAUNDRY $0 $0
GARAGES $0 $0
MONTHLY SCHEDULED GROSS INCOME $3,495 $3,795
ANNUALIZED SCHEDULED GROSS INCOME $41,940 $45,540
UTILITIES PAID BY TENANT Gas & Electric Gas & Electric
* This information has been secured from sources we believe to be reliable but representations, or warranties, expressed or implied, as to the accuracy of the references to square footage, land lines/boundaries and age are approximate. Buyer takes responsibility for all information and bears all risk for any inaccuracies.
FinancialOverview
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2 UNIT
Unit # Unit Type Actual Rent Market Rent Notes
1 1+2 $1,995 $1,995 * w/ den (Vacant)
1 1+1 $1,500 $1,800
MONTHLY TOTALS $3,495 $3,795
ANNUALIZED TOTALS $41,940 $45,540
RentRoll
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Address StreetCity, State Zip
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1746 -1748 MARTINA AVE,TORRANCE, CA 90501
PropertyPhotography
1746-1748 MARTINA AVETORRANCE, CA 90501
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1746-1748 MARTINA AVETORRANCE, CA 90501
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Address StreetCity, State Zip
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1746 -1748 MARTINA AVE,TORRANCE, CA 90501
Comparables
1746-1748 MARTINA AVETORRANCE, CA 90501
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Address Price Units Year BuiltBuilding
SizePrice/Unit Price/SF CAP Rate GRM Sale Date
11226 Cota Ave,Torrance, CA 90501
$920,000 2 1964 1,904 SF $460,000 $483.19 4.45% 30.06 08/11/2020
21221 Amapola Ave,Torrance, CA 90501
$950,000 3 1962 1,932 SF $316,666 $491.72 4.12% 19.33 08/20/2020
31346 Engracia AveTorrance, CA 90501
$955,000 3 1925 1,616 SF $477,500 $590.97 1.93% 15.15 06/29/2020
Averages $941,666 2.5 1950 1,817 SF $418,015 $521.96 3.50% 21.51 N/A
*1746 - 1748 Martina Ave,Torrance, CA 90501
$850,000 2 1923 1,485 SF $425,000 $572.39 3.07% 20.07 Active
SoldComparables
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Address Date Leased Unit Type Unit Size Rental Rate
125219 Loytan St, Torrance, CA 90501
Jun 2020 1 Bed/ 2 Bath 900 $2,100
21810 Arlington Ave,Torrance, CA 90501
Jan 2020 1 Bed/ 2 Bath 1,200 $2,100
32559 Plaza Del Amo #115Torrance, CA 90501
July 2020 1 Bed/ 2 Bath 1,052 $2,230
42559 Plaza Del Amo #215Torrance, CA 90501
Jun 2019 1 Bed/ 2 Bath 1,052 $2,390
Averages Jan 2019 1 Bed / 2 B 1,051 SF $2,187
*1746 - 1748 Martina Ave,Torrance, CA 90501
Active1 Bed/2 Bath1 Bed/1 Bath
900 SF585 SF
$1,995$1,500
LeaseComparables
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Address Price Units Year BuiltBuilding
SizePrice/Unit Price/SF CAP Rate GRM List date
11819 Gramercy Ave,Torrance, CA 90501
$799,900 2 1923 1,200 SF $399,950 $666.58 4.25% 16.66 09/01/2020
22224 Torrance Blvd,Torrance, CA 90501
$899,000 2 1941 2,249 SF $449,500 $399.73 2.90% 21.43 09/04/2020
3808 Acacia Ave,Torrance, CA 90501
$1.125,000 2 1939 2,337 SF $562,500 $481.39 2.31% 17.36 07/08/2020
Averages $849,450 2 1934 1,928 SF $470,650 $515.90 3.15% 18.48 N/A
*1746 - 1748 Martina Ave,Torrance, CA 90501
$850,0002 1923 1,485 SF $425,000 $572.39 3.07% 20.07 N/A
On-MarketComparables
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1746-1748 MARTINA AVETORRANCE, CA 90501
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Address StreetCity, State Zip
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1746 -1748 MARTINA AVE,TORRANCE, CA 90501
AreaOverview
1746-1748 MARTINA AVETORRANCE, CA 90501
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City Overview
Torrance is a city in the South Bay region of Los Angeles County bordered by Redondo Beach, Palos Verdes Estates, Rolling Hills Estates, Gardena, and Lawndale. Torrance is known for its low crime rates, consistently ranking among the safest cities in LA County.
The Torrance Unified School District ranks in the top 50 in California and includes five high schools, eight middle schools, and 17 elementary schools. Torrance High School, founded in 1917, is one of the oldest high schools in California and is a popular filming location for TV shows and films including the original Beverly Hills, 90210 and Buffy the Vampire Slayer.
The median price of homes currently listed in Torrance is $775,000 and Torrance real estate values have gone up 6.6% over the past year.
One of the largest malls in the United States, Del Amo Fashion Center, is in Torrance along with the headquarters of Honda, King’s Hawaiian, and simplehuman. In addition to its corporate presence, there is a strong emphasis on small business in the community: Torrance has been ranked in the top 3 cities in California for small businesses.
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The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictlyconfidential; it is intended to be reviewed only by the party receiving it from Broker and should not bemade available to anyone else without the written consent of Broker. By retention or use of thisMemorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.
This Memorandum has been prepared to provide summary, unverified information to establish apreliminary level of interest in the subject property (“Property”) . The information in this Memorandum hasbeen obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficientinvestigation to make any warranty or representation whatsoever including but not limited to theaccuracy or completeness of the information, veracity or accuracy of the information, condition of theProperty or its compliance or lack of compliance with applicable governmental requirements,developability, suitability or financial performance of the Property, income or expenses for the Property,the size and square footage of the Property and improvements, the presence or absence ofcontaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, thephysical condition of the improvements thereon, or the financial condition or business Property and doesnot purport to be an all – inclusive representation regarding the Property or to contain all or part of theinformation which prospective investors may require to evaluate the purchase of the Property. Additionalinformation and an opportunity to investigate the Property will be made available to interested andqualified prospective purchasers. All information is based on assumptions relating to the generaleconomy, market conditions, competition and other factors beyond the control of Broker, therefore, allinformation is subject to material variation. The information contained herein is not a substitute for athorough due diligence investigation. Interested parties are expected to review all information ofwhatever nature independently and not rely on the contents of this Memorandum in any manner.
The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offersto purchase the Property, and/or to terminate discussions at any time with or without notice. The Ownershall have no legal commitment or obligation unless and until written agreement(s) have been fullyexecuted, delivered and approved by the Owner and any conditions to the Owner’s obligations thereinhave been satisfied or waived.
Disclaimer & Confidentiality Agreement
Exclusively Marketed By
Woody Stahl
(310) [email protected] - 01399621
310) [email protected] - 01717818
Brett Lyon