offering memorandum - constant contactfiles.constantcontact.com/a6713ba9501/7e471b08-240... · the...

1040 N SIERRA BONITA AVEWest Hollywood, CA

Offering Memorandum

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to

be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other

person or entity without the written consent of Marcus & Millichap. 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. Marcus & Millichap 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 Brochure

has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not

verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding

these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the

information provided. All potential buyers must take appropriate measures to verify all of the information set forth

herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016

Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in

this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply

affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or

subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for

the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

1040 N SIERRA BONITA AVE

West Hollywood, CA

ACT ID Y0120310

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02Rent Roll Summary

Rent Roll Detail

Operating Statement

Notes

Pricing Detail

Acquisition Financing

MARKET COMPARABLES 03Comparables

Rent Comparables

MARKET OVERVIEW 04

Market Analysis

Demographic Analysis



4

INVESTMENT

OVERVIEW


#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Disney 15,190

Southern California / Hawa Reg 13,000

Fcp Voteco LLC 12,224

Walt Disney Company 8,333

Auge International 6,000

Smart & Final Holdings LLC 5,910

Anschutz Film Group 5,002

Victory Studio 5,000

Earth Technology Corp USA 4,655

Cardiac Noninvasive Laboratory 4,604

Ticketmaster Entertainment LLC 4,390

Califrnia Dept State Hospitals 4,000

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2016 Estimate Pop 59,902 337,799 904,024

2010 Census Pop 54,059 316,378 860,366

2016 Estimate HH 35,806 170,142 395,896

2010 Census HH 31,986 157,376 371,760

Median HH Income $52,192 $54,779 $48,272

Per Capita Income $50,112 $48,946 $39,108

Average HH Income $83,425 $96,605 $88,678

UNIT MIX

NUMBEROF UNITS

UNIT TYPEAPPROX.SQUARE FEET

1 Single / 1 Bathroom

2 1 Bedroom / 1 Bathroom



6 Total 5,665

VITAL DATA

Price $1,835,000 CURRENT PRO FORMA

Down Payment 60% / $1,101,000 CAP Rate 3.18% 6.63%

Loan Amount $734,000 GRM 17.37 10.88

Loan Type Proposed NewNet Operating Income

$58,263 $121,616

Interest Rate / Amortization 4.00% / 30 YearsNet Cash Flow After Debt Service

5.29% / $58,263 11.05% / $121,616

Price/Unit $305,833 Total Return 5.29% / $58,263 12.27% / $135,069

Price/SF $323.92

Number of Units 6

Rentable Square Feet 5,665

Year Built 1957

Lot Size 0.15 acre(s)

5


#

OFFERING SUMMARY

▪ Location, Location, Location!

▪ First Time on the Market in Over 40 Years!

▪ Excellent Unit Mix.

▪ Tremendous Upside in Rents.

▪ 6 Carport Parking Spaces.

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to exclusively represent for sale 1040 Sierra Bonita Avenue, a 6-unit apartment building in Prime West Hollywood, one of Los Angeles's

most sought out neighborhoods.

Built in 1957, this two-story building consists of one single, two one-bedroom/one-bathroom, two two-bedroom/two-bathroom, and one three bedroom/two bathroom

units. On-site laundry facilities are available to tenants, as well as 6 carport parking spaces.

On the market for the first time in over 40 years, this is a rare opportunity to acquire an investment opportunity in one of LA's strongest sub-markets. The upside in rents

are tremendous, and can be achieved through property upgrades. Just steps from Santa Monica Blvd, shopping, dinning, and nightlife are at your door step. This

property can be the pride of ownership investment for any portfolio.

INVESTMENT OVERVIEW

6


#

OFFERING SUMMARY

PROPERTY OVERVIEW

Marcus & Millichap is pleased to exclusively represent for sale 1040 Sierra Bonita Avenue, a 6-unit apartment

building in Prime West Hollywood, one of Los Angeles's most sought out neighborhoods.

Built in 1957, this two-story building consists of one single, two one-bedroom/one-bathroom, two two-

bedroom/two-bathroom, and one three bedroom/two bathroom units. On-site laundry facilities are available to

tenants, as well as 6 carport parking spaces.

On the market for the first time in over 40 years, this is a rare opportunity to acquire an investment opportunity in

one of LA's strongest sub-markets. The upside in rents are tremendous, and can be achieved through property

upgrades. Just steps from Santa Monica Blvd, shopping, dinning, and nightlife are at your door step. This

property can be the pride of ownership investment for any portfolio.

7

▪ Off Street Parking

Common Area Amenities

▪ Laundry Facilities

▪ Spacious Floor Plans

Unit Amenities

▪ In Wall AC Units


#

PROPERTY SUMMARY

OFFERING SUMMARY

PROPOSED FINANCING

First Trust Deed

Loan Amount $734,000

Loan Type Proposed New

Interest Rate 4.00%

Amortization 30 Years

Loan Term 5 Years

Loan to Value 40%

Debt Coverage Ratio

EXISTING FINANCING

Loan Type Conventional

THE OFFERING

Property 1040 N Sierra Bonita Ave

Price $1,835,000

Property Address 1040 N Sierra Bonita Ave,West Hollywood,CA

Assessors Parcel Number 5530-019-008

Zoning Wdr3c*

SITE DESCRIPTION

Number of Units 6

Year Built/Renovated 1957

Rentable Square Feet 5665

Lot Size 0.15 acre(s)

8

REGIONAL MAP


9

LOCAL MAP


10

AERIAL PHOTO


11


12

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS


RENT ROLL SUMMARY

13

FINANCIAL ANALYSIS


14

RENT ROLL DETAIL

FINANCIAL ANALYSIS


OPERATING STATEMENT

15

FINANCIAL ANALYSIS


NOTES

16

FINANCIAL ANALYSIS


PRICING DETAIL

17

MARCUS & MILLICHAP CAPITAL CORPORATION

CAPABILITIES

MMCC—our fully integrated, dedicated financing arm—is committed to

providing superior capital market expertise, precisely managed execution, and

unparalleled access to capital sources providing the most competitive rates and

terms.

We leverage our prominent capital market relationships with commercial banks,

life insurance companies, CMBS, private and public debt/equity funds, Fannie

Mae, Freddie Mac and HUD to provide our clients with the greatest range of

financing options.

Our dedicated, knowledgeable experts understand the challenges of financing

and work tirelessly to resolve all potential issues to the benefit of our clients.

National platform

operating

within the firm’s

brokerage

offices

$4.9 billion

total national

volume in 2015

Access to

more capital

sources than

any other firm

in the industry

Optimum financing solutions

to enhance value

Our ability to enhance

buyer pool by expanding

finance options

Our ability to enhance

seller control

• Through buyer

qualification support

• Our ability to manage buyers

finance expectations

• Ability to monitor and

manage buyer/lender

progress, insuring timely,

predictable closings

• By relying on a world class

set of debt/equity sources

and presenting a tightly

underwritten credit file

WHY MMCC?

Closed 1,601

debt and equity

financings

in 2015

ACQUISITION FINANCING


18


19

MARKET

COMPARABLES

8


SALES COMPARABLES MAP

20


(SUBJECT)

1024 N Sierra Bonita Ave

1233 N Orange Grove Ave

7631 Norton Ave

914 N Hayworth Ave

1047 N Stanley Ave

SALES COMPARABLES

1

2

3

4

5

PROPERTY NAME1040 N SIERRA BONITA AVE

COMPARABLES

21

Avg. $410

$0

$60

$120

$180

$240

$300

$360

$420

$480

$540

$600

1040 N

Sierra

Bonita Ave

1024 N

Sierra

Bonita Ave

1233 N

Orange

Grove Ave

7631

Norton Ave

914 N

Hayworth

Ave

1047 N

Stanley Ave

Average Price Per Square Foot

Avg. $290,649

$0

$40,000

$80,000

$120,000

$160,000

$200,000

$240,000

$280,000

$320,000

$360,000

$400,000

1040 N

Sierra

Bonita Ave

1024 N

Sierra

Bonita Ave

1233 N

Orange

Grove Ave

7631

Norton Ave

914 N

Hayworth

Ave

1047 N

Stanley Ave

Average Price Per Unit

Avg. 17.92

0

2

4

6

8

11

13

15

17

19

21

1040 N

Sierra

Bonita Ave

1024 N

Sierra

Bonita Ave

1233 N

Orange

Grove Ave

7631

Norton Ave

914 N

Hayworth

Ave

1047 N

Stanley Ave

Average GRM

Avg. 3.40%

0

0

1

1

2

2

2

3

3

4

4

1040 N

Sierra

Bonita Ave

1024 N

Sierra

Bonita Ave

1233 N

Orange

Grove Ave

7631

Norton Ave

914 N

Hayworth

Ave

1047 N

Stanley Ave

Average Cap Rate

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM


COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


22

SALES COMPARABLES


673 VISTA ISLE DRIVE

673 VISTA ISLE DRIVE, SUNRISE, FL, 33325

1040 N SIERRA BONITA AVE1040 N SIERRA BONITA AVE, WEST HOLLYWOOD, CA,

90046

Units Unit Type

Offering Price: $1,835,000 1 Single 1 Bath

Price/Unit: $305,833 2 1 Bdr 1 Bath

Price/SF: $323.92 2 2 Bdr 2 Bath

CAP Rate: 3.18% 1 3 Bdr 2 Bath

GRM: 17.37

Total No. of Units: 6

Year Built: 1957

Underwriting Criteria

Income $106,548 Expenses $48,285

NOI $58,263

1024 N SIERRA BONITA AVE, WEST HOLLYWOOD, CA, 90046


1

Units Unit Type

Close Of Escrow: 10/27/2016 8 1 Bdr 0 Bath

Sales Price: $2,560,000 1 2 Bdr 0 Bath

Price/Unit: $284,444

Price/SF: $389.00

CAP Rate: 3.25%

GRM: 20.0


Year Built: 1956


Income $128,000 Expenses $44,800

NOI $83,200

1233 N ORANGE GROVE AVE, WEST HOLLYWOOD, CA,

90046

1233 N ORANGE GROVE AVE

Units Unit Type

Close Of Escrow: 6/10/2016 1 Studio 0 Bath

Days On Market: 233 6 1 Bdr 0 Bath



Price/SF: $353.00

CAP Rate: 3.29%

GRM: 18.27


Year Built: 1956


NOI $87,612

2

PROPERTY NAME

MARKETING TEAM


COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


23

SALES COMPARABLES

Units Unit Type



Sales Price: $3,000,000


Price/SF: $350.00

CAP Rate: 3.13%


Year Built: 1961


NOI $94,043

7631 NORTON AVE

3

7631 NORTON AVE, WEST HOLLYWOOD, CA, 90046 914 N HAYWORTH AVE, WEST HOLLYWOOD, CA, 90046

914 N HAYWORTH AVE

4

Units Unit Type

Close Of Escrow: 11/28/2016 1 Studio 0 Bath




Price/SF: $578.00

CAP Rate: 3.68%

GRM: 16.64


Year Built: 1924


Income $91,647

NOI $56,120

1047 N STANLEY AVE, WEST HOLLYWOOD, CA, 90046

1047 N STANLEY AVE

Units Unit Type



Sales Price: $2,975,000


Price/SF: $379.00

CAP Rate: 3.65%

GRM: 16.75


Year Built: 1959


NOI $102,018

5

8


RENT COMPARABLES MAP


(SUBJECT)

1047 Stanley Avenue

4

7

8

9

11

20

12

14

15

16

17

13

18

10

1

24


COMPARABLES

25

AVERAGE OCCUPANCY

Avg. 100.00%

0

10

20

30

40

50

60

70

80

90

100

1040 N

Sierra

Bonita Ave

1047

Stanley

Avenue


COMPARABLES

26

AVERAGE RENT - MULTIFAMILY

Avg. $2,150

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

1040 N

Sierra

Bonita Ave

1047

Stanley

Avenue

1 Bedroom

Avg. $2,750

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

1040 N

Sierra

Bonita Ave

1047

Stanley

Avenue

2 Bedroom

Avg. $

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

1040 N

Sierra

Bonita Ave

1047

Stanley

Avenue

3 Bedroom

PROPERTY NAME

MARKETING TEAM


RENT COMPARABLES







27

YEAR BUILT: 1957

1040 N SIERRA BONITA AVE1040 N SIERRA BONITA AVE, WEST HOLLYWOOD, CA,

90046

Unit Type Units SF Rent Rent/SF

Single 1 Bath 1 $736.00 $0.00

1 Bdr 1 Bath 2 $1,375.00 $0.00

2 Bdr 2 Bath 2 $1,411.50 $0.00

3 Bdr 2 Bath 1 $2,495.00 $0.00

Total/Avg. 6

1047 STANLEY AVENUE1047 STANLEY AVE, WEST HOLLYWOOD, CA, 90046

OCCUPANCY: 100% | YEAR BUILT: 1959

1

Unit Type Units SF Rent Rent/SF

1 Bdr 1 Bath 1 $2,150

2 Bdr 2 Bath 1 $2,750

Total/Avg. 2 $2,450


28

MARKET

OVERVIEW

MARKET OVERVIEW

Greater Downtown Los Angeles consists of the Downtown Los Angeles, Mid-Wilshire and Hollywood submarkets. The area’s population of 876,500 residents is expected to

grow by 1.6 percent over the next five years. The number of households will increase by 3.1 percent during this period, with more than 10,000 additions, due in part to new

apartment and condo construction.

The downtown area is undergoing a major renaissance, and businesses and residents are once again seeking space. The downturn in the technology sector forced many

businesses that were paying a premium in West Los Angeles to relocate to more affordable locations downtown. Gensler’s move from the Google Campus to the City

National Bank Building is an example. In the past few years, low interest rates spurred a plethora of new projects and renovations in the area. Businesses in Greater

Downtown employ 486,500 workers, including roughly 218,600 in the services sectors. There are 86,900 people on the payroll in the public administration sector, and retail

trade accounts for approximately 65,300 jobs.

Healthcare provides jobs for almost 27,500 people, many of which are in hospitals. Legal services are also a major presence, employing 22,300 residents. The business

services sector accounts for almost 49,000 local hires. Other large employers include Ernst & Young and Paramount Pictures.

Building conversions remain popular in the downtown area, with older office buildings being re-built into upscale apartments and condos. Young, urban professionals

desiring shorter commutes are absorbing these units.

MAJOR EMPLOYERS

University of Southern California

Farmer’s Insurance

Kaiser Permanente

St. Vincent Medical Center

Transamerica Insurance Corp.

California State University

Paramount Pictures Corp.

State of California

Deloitte

Ernst & YoungSources: Marcus & Millichap Research Services;

U.S. Census Bureau; Experian

GREATER DOWNTOWN LOS ANGELES

SHARE OF TOTAL EMPLOYMENTDOWNTOWN EMPLOYMENT: 486,500

Services 45%

Public Administration 18%

Retail Trade 13%

Finance, Insurance & Real Estate 8%

Manufacturing 5%

Transportation, Communications & Utilities 4%

Construction 1%

Unclassified 5%

The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or

reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.


29

MARKET OVERVIEW


30

LOS ANGELES METRO AREA

Downtown Revitalization in Full Swing;

Housing Demand Remains Robust

Soaring home prices channel rising demand toward apartments. An upswing of development, spurred

by the renovation of downtown Los Angeles, produced the largest supply injection in more than two

decades. However, an improving labor market and the high cost of single-family housing generated surging

demand for rentals, bringing vacancy to a new cycle low. While development will remain elevated,

construction is declining outside of the urban core submarkets in the Greater Downtown Los Angeles area,

spurring broad declines in vacancy. Job growth, while slower than previous years of the current business

cycle, remains highly supportive of additional household formation as well. As a result, the metro vacancy

rate will contract further as new households predominantly choose rentals. While a tighter operating

environment will support additional growth in the average effective rent, performance will be dictated by

local drivers in individual submarkets. Robust corporate worker demand in the Westside Cities and South

Bay will accelerate rent gains, while being offset by rising vacancy in supply-laden Downtown Los Angeles.

Investors seek out vintage complexes as valuations in the core rise. Following several years of sizable

appreciation in asset values, investors are becoming more tactical. The sharp increase in new apartment

supply at the high end of the market has refocused participants on Class B and C offerings with upside

potential through renovation. Although these opportunities have dwindled due to high demand, particularly

in Downtown Los Angeles, neighborhoods with older construction such as the South Bay and the Westside

Cities still offer some prospects. Meanwhile, yield-oriented investors are boosting allocations in the San

Fernando Valley, where the highest cap rates in the metro are found. Metrowide, initial returns on closed

transactions will range from the low-4 to high-4 percent band, depending on asset quality and location.

*Estimate ** Forecast

Sources: Marcus & Millichap Research Services; BLS; CoStar Group, Inc.

MARKET OVERVIEW


31

LOS ANGELES METRO AREA

2017 Market Forecast

Advancing faster than any other market, Los Angeles fills the top spot with

strong rental demand and limited development restraining vacancy.

Los Angeles organizations will hire 50,000 workers this year, expanding

payrolls by 1.1 percent. Last year, 75,000 jobs were created.

Focusing on the Downtown Los Angeles submarkets, developers will

complete 10,900 units in 2017, a marginal decrease from the 12,900

brought online last year.

A slower pace of development and steady job growth will contract the

vacancy rate 30 basis points to 2.6 percent. In the prior year, vacancy fell

10 basis points.

Declining vacancy will trigger a 5.4 percent rise in the average effective rent

to $2,095 per month during 2017. The average effective rent advanced 5.0

percent in the previous four quarters.

Markets outside of the Greater Downtown Los Angeles area will record

sharp slowdowns in deliveries, motivating buyers to deploy capital for fully

occupied Class B and C properties.

* Estimate ** Forecast

Sources: Marcus & Millichap Research Services; CoStar Group, Inc.;

Real Capital Analytics

NMI Rank

1, up 10 places

Employment

up 1.1%

Construction

10,900 units

Vacancy

down 30 bps

Rent

up 5.4%

Investment

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2016 Experian

Created on March 2017

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2021 Projection

Total Population 60,002 340,811 911,108

▪ 2016 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Daytime Population

2016 Estimate 61,526 384,921 928,414

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2021 Projection

Total Households 36,195 173,025 402,225

▪ 2016 Estimate


Average (Mean) Household Size 1.65 1.96 2.25

▪ 2010 Census


▪ 2000 Census


Growth 2015-2020 1.09% 1.69% 1.60%

HOUSING UNITS 1 Miles 3 Miles 5 Miles

▪ Occupied Units

2021 Projection 36,195 173,025 402,225

2016 Estimate 36,347 176,058 409,965

Owner Occupied 5,468 40,209 97,220

Renter Occupied 30,338 129,933 298,676

Vacant 540 5,916 14,068

▪ Persons In Units

2016 Estimate Total Occupied Units 35,806 170,142 395,896

1 Person Units 54.02% 46.21% 39.28%

2 Person Units 33.82% 31.36% 29.86%

3 Person Units 7.72% 10.91% 13.06%

4 Person Units 2.92% 6.90% 9.52%

5 Person Units 0.81% 2.77% 4.56%

6+ Person Units 0.70% 1.86% 3.73%

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2016 Estimate

$200,000 or More 6.73% 9.75% 8.61%

$150,000 - $199,000 5.12% 5.71% 4.80%

$100,000 - $149,000 11.39% 11.68% 10.53%

$75,000 - $99,999 11.36% 10.31% 9.38%

$50,000 - $74,999 17.03% 15.88% 15.43%

$35,000 - $49,999 12.04% 11.61% 12.47%

$25,000 - $34,999 9.32% 9.32% 10.41%

$15,000 - $24,999 9.46% 10.22% 12.10%

Under $15,000 17.55% 15.54% 16.29%

Average Household Income $83,425 $96,605 $88,678

Median Household Income $52,192 $54,779 $48,272

Per Capita Income $50,112 $48,946 $39,108

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2016 Estimate Total Population 59,902 337,799 904,024

Under 20 8.01% 14.41% 18.80%

20 to 34 Years 36.34% 29.46% 27.32%

35 to 39 Years 11.18% 9.47% 8.60%

40 to 49 Years 16.37% 15.99% 15.21%

50 to 64 Years 15.06% 17.39% 17.51%

Age 65+ 13.05% 13.25% 12.56%

Median Age 37.36 38.15 37.17

▪ Population 25+ by Education Level

2016 Estimate Population Age 25+ 51,005 266,378 671,406

Elementary (0-8) 1.57% 4.42% 8.38%

Some High School (9-11) 2.50% 4.52% 7.13%

High School Graduate (12) 10.93% 13.13% 16.30%

Some College (13-15) 19.13% 17.91% 17.38%

Associate Degree Only 7.24% 5.83% 5.59%

Bachelors Degree Only 41.78% 35.87% 28.97%

Graduate Degree 15.73% 16.66% 13.72%

▪ Population by Gender

2016 Estimate Total Population 59,902 337,799 904,024

Male Population 52.40% 50.93% 50.17%

Female Population 47.60% 49.07% 49.83%

32

Income

In 2016, the median household income for your selected geography is

$52,192, compare this to the US average which is currently $54,505.

The median household income for your area has changed by 47.65%

since 2000. It is estimated that the median household income in your

area will be $63,638 five years from now, which represents a change

of 21.93% from the current year.

The current year per capita income in your area is $50,112, compare

this to the US average, which is $29,962. The current year average

household income in your area is $83,425, compare this to the US

average which is $78,425.

Population

In 2016, the population in your selected geography is 59,902. The

population has changed by 4.80% since 2000. It is estimated that the

population in your area will be 60,002.00 five years from now, which

represents a change of 0.17% from the current year. The current

population is 52.40% male and 47.60% female. The median age of

the population in your area is 37.36, compare this to the US average

which is 37.68. The population density in your area is 19,064.29

people per square mile.

Households

There are currently 35,806 households in your selected geography.

The number of households has changed by 10.14% since 2000. It is

estimated that the number of households in your area will be 36,195

five years from now, which represents a change of 1.09% from the

current year. The average household size in your area is 1.65 persons.

Employment

In 2016, there are 27,052 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

78.15% of employees are employed in white-collar occupations in

this geography, and 21.94% are employed in blue-collar occupations.

In 2016, unemployment in this area is 7.46%. In 2000, the average

time traveled to work was 30.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

81.53% White, 3.73% Black, 0.09% Native American and 6.21%

Asian/Pacific Islander. Compare these to US averages which are:

70.77% White, 12.80% Black, 0.19% Native American and 5.36%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 12.00% of the current year

population in your selected area. Compare this to the US average of

17.65%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $704,130 in 2016,

compare this to the US average of $187,181. In 2000, there were

4,995 owner occupied housing units in your area and there were

27,514 renter occupied housing units in your area. The median rent at

the time was $732.

Source: © 2016 Experian

DEMOGRAPHICS

33

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