offering memorandum · year built 1956 sale price $625,000 price/sf $245.77 closing date 9/10/2018...

OFFERING MEMORANDUM

3812 San Pedro ST Los Angeles CA 90011

San Pedro Church Executive Summary

OFFERING SUMMARY ADDRESS 3812 San Pedro ST

Los Angeles CA 90011

COUNTY Los AngelesMARKET Los AngelesBUILDING SF 3,072LAND SF 4,800 SFYEAR BUILT 1952YEAR RENOVATED 2018APN 5121-009-038OWNERSHIP TYPE Fee Simple

FINANCIAL SOFFERING PRICE $675,000PRICE PSF $219.72NOI (PROFORMA) $49,139CAP RATE (PROFORMA) 7.3%

1 MILE 3 MILE 5 MILEDEMOGRAPHICS 2018 Population 71,762 484,912 1,388,2382018 Median HH Income $31,545 $31,208 $35,6152018 Average HH Income $44,329 $48,729 $52,274

Light Year Realty Inc. is pleased to present this 3,072 SF mixed use building in the City of Los Angeles. The subject property is located on 4,800 SF lot zoned CM-1. The subject property consist of two separate buildings. The first building is a two-story Church and is approximately 2,552 SF. The second building is approximately 520 SF single story guest house with 1 bedroom and 1 bathroom.

The Church has been fully restored and remodeled, and features 16 foot ceilings and windows that provide substantial natural light. The second floor provides office space with approximately 300 SF. In addition, 300 SF of basement is located under the main floor. The Church features one bathroom and a second room that can be converted into a full kitchen.

The guest house has undergone extensive remodeling and features new stainless steel appliances, new cabinetry in kitchen and bathroom, new hardwood and tile floors, and new bathroom fixtures.

The subject property provides 825 SF of on-site parking for 7 vehicles with gated entry facing San Pedro ST. In addition, there is ample street parking on San Pedro ST.

The subject property is located Northeast of the signalized intersection of E Martin Luther King Jr Blvd and San Pedro ST. The site is approximately 1.7 miles from University Southern California, 1.3 miles from LA Memorial Coliseum, and 2.4 miles from Downtown Los Angeles.

Nearby parks include Gilbert Lindsay Recreation Center, Trinity Park and South Park.

The location provides easy and convenient access to major Los Angeles freeways (10, 110, 101, 5, and 60).

This offering will attract an owner user or investor with tenants in mind

Unit Mix Summary

# Units Market Rent Market RentPSF

MarketIncome

San Pedro Church

Unit Mix

Guest House 1

Square Feet

520

Current

Vacant $1,600 $3.08 $1,600 Church 1 2,552 Vacant $3,828 $1.50 $4,466Totals/Averages 2 3,072 $5,428 $5,428

San Pedro Church Income & Expense Analysis

PROFORMAINCOME

Residential Revenue $19,200

Commercial Revenue $45,936

Gross Potential Income $65,136

Vacancy & Collection Loss $1,954

Effective Gross Income $63,182

Less: Expenses $14,043

Net Operating Income $49,139

PROFORMAEXPENSES

Real Estate Taxes 1.20% $8,100

Insurance $1,843

Repairs & Maintenance $500

Utilities $2,400

Trash $1,200

Total Operating Expense $14,043

Expense / SF $4.57

Location Summary

Located adjacent the corner of San Pedro street and Martin Luther King Jr Blvd, the subject property is nestled in San Pedro, a rapidly-developing, up and coming neighborhood of Los Angeles.

The San Pedro area is rich with Los Angeles history. Long-time local businesses work alongside newly opened retail and food locations. Nearby neighbors include Children’s Collective daycare, Ricardo Lizarraga Elementary school. A shopping center located diagonally across the corner has clothing shops and recently-opened national fast food chain. All of these in tandem create a vibrant, bustling community and local economy.

The subject location is only minutes away from USC, the brand new soccer stadium, and the USC Coliseum. With the Super Bowl, World Cup, and Olympics all coming to Los Angeles within the next 9 years, this subject's location makes it prime for massive value appreciation in upcoming years.

Regional Map

Locator Map

San Pedro Church Property Features

GLOBAL NUMBER OF BUILDINGS 2BUILDING SF 3,072LAND SF 4,800LAND ACRES 0.11# OF PARCELS 1YEAR BUILT 1952YEAR RENOVATED 2018ZONING TYPE CM-1LOCATION CLASS BBUILDING CLASS BNUMBER OF BUILDINGS 2NUMBER OF STORIES 2LOT DIMENSION 40 x 120PARKING SPACES 7

San Pedro Church Aerial Map

San Pedro Church Parcel Map

San Pedro Church Property Images

San Pedro Church Sale Comparables Map

# Property Name Address City

S San Pedro Church 3812 San Pedro ST Los Angeles1 Church 6315 Crenshaw Blvd Los Angeles2 Church 1846 W Adams Blvd Los Angeles3 3607 S San Pedro ST Los Angeles

San Pedro Church Sale Comparables Summary

1

3607 S San Pedro ST, LosAngeles, CA 90011

YEAR BUILT 1908

SALE PRICE $1,000,000

PRICE/SF $258.00

CLOSING DATE 12/7/2018

2

Church1846 W Adams Blvd, LosAngeles, CA 90018

YEAR BUILT 1924

SALE PRICE $1,560,000

PRICE/SF $537.93


San Pedro Church Sale Comparables Summary

3

Church6315 Crenshaw Blvd, Los Angeles, CA 90043

YEAR BUILT 1956

SALE PRICE $625,000

PRICE/SF $245.77


S

San Pedro Church3812 San Pedro ST, Los Angeles, CA 90011

TOTAL UNITS 2

YEAR BUILT 1952

ASKING PRICE $675,000

PRICE/SF $219.72

CAP RATE 7.3%

San Pedro Church Demographics

1 MILE 3 MILE 5 MILEPOPULATION

2000 Population 65,749 420,794 1,288,557

2010 Population 68,085 450,225 1,310,359

2018 Population 71,762 484,912 1,388,238

2023 Population 73,612 507,393 1,440,726

2018 African American 6,663 73,298 229,090

2018 American Indian 821 4,898 12,843

2018 Asian 693 27,863 139,761

2018 Hispanic 63,510 355,240 949,205

2018 White 23,901 156,921 446,379

2018 Other Race 36,572 199,500 498,756

2018 Multiracial 3,084 22,050 60,155

2018-2023: Population: Growth Rate 2.55 % 4.55 % 3.70 %

1 MILE 3 MILE 5 MILE2018 HOUSEHOLD INCOME

less than $15,000 3,240 35,298 87,092

$15,000-$24,999 2,855 21,529 64,575

$25,000-$34,999 2,428 16,688 52,254

$35,000-$49,999 2,414 18,819 61,504

$50,000-$74,999 2,392 18,982 63,380

$75,000-$99,999 1,060 9,517 33,525

$100,000-$149,999 909 9,457 32,214

$150,000-$199,999 188 3,010 10,676

$200,000 or greater 208 3,223 9,668

Median HH Income $31,545 $31,208 $35,615

Average HH Income $44,329 $48,729 $52,274

1 MILE 3 MILE 5 MILEHOUSEHOLDS 2000

Total Housing 16,028 123,354 398,075

2010 Total Households 15,087 124,372 390,633



2018 Average Household Size 4.46 3.41 3.26

2000 Owner Occupied Housing 3,390 26,686 91,867

2000 Renter Occupied Housing 11,312 86,167 279,870



2018 Vacant Housing 1,095 12,795 33,802

2018 Total Housing 16,789 149,318 448,691



2023 Vacant Housing 1,170 12,857 33,958

2023 Total Housing 17,199 158,514 467,003

2018-2023: Households: Growth Rate 2.10 % 6.50 % 4.30 %

Source: esri

San Pedro Church Demographic Charts

1 Mile Radius 3 Mile Radius 5 Mile Radius

2018 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2018 Population by Race

San Pedro Church Demographic Charts

2018 Household Occupancy - 1 Mile Radius

Average Income Median Income

2018 Household Income Average and Median

San Pedro Church

CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Light Year Realty Inc and it should not be made available to any other person or entity without the written consent of Light Year Realty Inc.

By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Light Year Realty Inc. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. Light Year Realty Inc 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 of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or 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 offering memorandum has been obtained from sources we believe reliable; however, Light Year Realty Inc has not verified, and will not verify, any of the information contained herein, nor has Light Year Realty Inc 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

Exclusively Marketed by:

Jacob LavianSenior Investment Associate (310) 346-4905License # [email protected]

440 Shatto Place. Suite 409, Los Angeles, CA 90020

offering memorandum · year built 1956 sale price $625,000 price/sf $245.77 closing date 9/10/2018...

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