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Building Your Wealth Through Apartment
Investments
DESERT GARDENS APARTMENTS1463-1683 S. 5th Street, El Centro, CA 92243
Ricardo Lopez - CalBRE#01936528 - (619) 736-0201 - [email protected]
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
TABLE OF CONTENTS
Property Overview - 1
Photographs- 2
Overhead Map- 4
Area Description - 5
Sales Comparables - 7
Rent Comparables - 10
Executive Summary - 14
1463-1683 S. 5TH ST
THE OPPORTUNITY
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Desert Gardens is a 54 unit multi-family property set across
two contiguous parcels totaling just over 2 acres and nearly
spanning a full city block in El Centro, CA.
One parcel contains (1) 8 unit building and the other parcel
contains the remaining 46 units set across 8 buildings. Built in
1953 and remodeled in 2018, Desert Gardens consists of (12)
1br-1ba, (39) 2br-1ba and (3) 3br-1ba units. There are 37
single car garages, 12 off-street spaces and ample street
parking. Tenants enjoy spacious floorplans the majority of
which have updated with new countertops, kitchen
cabinets, and laminate flooring. Each unit has its own HVAC
system and hot water heater.
There is a community pool onsite and shared laundry rooms
located in each building. Units are separately metered for
gas and electric while each building is separately metered
for water. Desert Gardens is conveniently located in the
heart of the city only half a mile from Interstate 8. The current
owner has done significant capital improvements including
installing all new vinyl windows, painting exteriors, replacing
and remodeling the garages and doors, updated
plumbing/electrical in laundry rooms, adding and replacing
new equipment washer/dryers, re-plastering the pool and
installing many new HVAC systems. The property is well
maintained and always in demand to rent.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
PROPERTY OVERVIEW
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
PHOTOGRAPHS
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
PHOTOGRAPHS
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
OVERHEAD MAP
EL CENTRO - A CITY OF GOVERNMENT & INDUSTRY
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
El Centro is the center of one of Southern California’s most promising new commercial and industrial
regions.
There are two international border crossings nearby for commercial and noncommercial vehicles.
Covering 11.019 square miles is the largest city in Imperial County.
Since the early 1980s the two largest employment sectors in the El Centro labor market area were
Government and Wholesale/Retail Trade, reflecting El Centro’s emerging role as a regional
administrative and commercial center.
As of 2009 the employment of El Centro residents is dominated by the local government, California state
government, and federal government.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
AREA DESCRIPTION
2000 2010 2020
37,835 42,598 44,120
30 31.6 32.9
$33,161 $37,000 $46,457
12,263 13,108 14,476
Female Male
19,243 18,592
21,878 20,720
22,392 21,686
<5 5-18 35-64 65>
N/A 33.60% 57.10% 9.30%
N/A 29.70% 59.60% 10.70%
8.30% 29.80% 48.70% 13.20%
All Housing Units:*
2000 2010 2020
11,499 13,108 14,476
Source: Census.gov
Historical Housing Units
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Demographic
Population
Median Age
Median Household Income
Total Housing Units
Median Age: 32.9
Gender:*
2000
2010
2019 (E)
Age:*
2000
2010
2019 (E)
Household Income - 2020
Median Age: 30
Median Age: 31.6
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
AREA DEMOGRAPHICS
SUBJECT 1 2
ADDRESS1463-1683 S. 5th St
ADDRESS699 Wake Ave
ADDRESS2075-85 Cottonwood Cir
92243
$3,900,000
92243 92243
YR BUILT 1953 Renov. 2018 YR BUILT 2005 YR BUILT
PRICE $5,049,000 PRICE $9,600,000 PRICE
37,520
PRICE/UNIT $93,500 PRICE/UNIT $128,000 PRICE/UNIT $86,666
1975
UNITS 54 UNITS 75 UNITS 45
$/SF $138.44 $/SF $134.74 $/SF
BLDG/SF 89,543 BLDG/SF 71,250 BLDG/SF
COE N/A COE 7/31/2020 COE 5/5/2020
$103.94
CAP RATE % 6.03% CAP RATE % 6.35% CAP RATE % N/A
UNIT MIX UNIT MIX UNIT MIXGRM 9.91 GRM N/A GRM N/A
12 - 1Br-1Ba 16 - 1 Br-1BA 11 - 1Br-1Ba
38 - 2Br-1Ba 50 - 2BR-2BA 24 - 2Br-1BA
9 - 3BR-2BA 10-2Br-2BA
3 - 3Br-1Ba
1 - 2Br-1Ba - Onsite Mngr
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
SALES COMPARABLES
Z
3 - 4Br-2Ba
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
17 - 3Br-2Ba
22 - 2Br-1Ba 16 - 2Br-2Ba
40 - 2Br-1Ba 1 - STUDIO 1 - STUDIO
6 - 1Br-1Ba 49 - 1Br-1Ba
UNIT MIX UNIT MIX UNIT MIXGRM N/A GRM N/A GRM N/A
CAP RATE % 5.60% CAP RATE % 5.70% CAP RATE % 6.70%
COE 9/5/2019 COE 8/30/2019 COE 8/21/2019
$81.48
$/SF $109.59 $/SF $101.55 $/SF
BLDG/SF 12,410 BLDG/SF 38,600 BLDG/SF 54,386
PRICE/UNIT $34,000 PRICE/UNIT $80,000 PRICE/UNIT $67,140
1970
UNITS 40 UNITS 49 UNITS 66
YR BUILT 1978 YR BUILT 1971 YR BUILT
PRICE $1,360,000 PRICE $3,920,000 PRICE $4,431,300
92243 92243
3 4 5
ADDRESS231 Canal Rd
ADDRESS480 Aurora Dr
ADDRESS1507 W Barbara Worth Dr
92227
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
SALES COMPARABLES
S) 1463-1683 S. 5th St 1) 2)
3) 4) 5)
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
MAP LEGEND
699 Wake Ave 2075-85 Cottonwood Cir
231 Canal Rd 480 Aurora Dr 1507 W Barbara Worth Dr
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
SALES COMPARABLES MAP
1 2 3
ADDRESS480 Aurora Dr
ADDRESS699 Wake Ave
ADDRESS2085 Cottonwood Cir
92243
1 Bedroom/1 Bathroom
92243 92243
RENT $775 RENT $1,075 RENT
UNIT MIX 1 Bedroom/1 Bathroom UNIT MIX 1 Bedroom/1 Bathroom UNIT MIX
PRICE/SQFT $1.46 PRICE/SQFT $1.47 PRICE/SQFT $1.15
$750
SQFT 530 SQFT 730 SQFT 652
HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS
On-site Laundry Laundry Facilities
Pool
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Trash Removal
Pool
Parking
No Pets
Pool and Spa
Laundry Service
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
RENT COMPARABLES - 1 BD
Z
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Pool
Laundry
HIGHLIGHTS
Gated and Covered Parking
PRICE/SQFT $1.36
SQFT 700
RENT $950
UNIT MIX 1 Bedroom/1 Bathroom
4
ADDRESS1507 Barbara Worth Dr
92243
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
RENT COMPARABLES - 1 BD
Z
1 2 3
ADDRESS480 Aurora Dr
ADDRESS699 Wake Ave
ADDRESS2085 Cottonwood Cir
92243
UNIT MIX 2 Bedroom/1 Bathroom UNIT MIX 2 Bedroom/2 Bathroom UNIT MIX 2 Bedroom/1 Bathroom
92243 92243
$850
SQFT 710 SQFT 960 SQFT 848
RENT $850 RENT $1,225 RENT
HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS
PRICE/SQFT $1.20 PRICE/SQFT $1.28 PRICE/SQFT $1.00
Pool No Pets Pool
Parking Laundry Service Trash Removal
On-site Laundry Pool and Spa Laundry Facilities
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
RENT COMPARABLES - 2 BD
Z
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Garages
Pool Microwave
Laundry Washer and Dryer
HIGHLIGHTS HIGHLIGHTS
Gated and Covered Parking Dishwashers
PRICE/SQFT $1.36 PRICE/SQFT $1.37
SQFT 700 SQFT 800
RENT $950 RENT $1,095
UNIT MIX 2 Bedroom/1 Bathroom UNIT MIX 2 Bedroom/1 Bathroom
92243
4 5
ADDRESS1507 Barbara Worth Dr
ADDRESS2095 Cottonwood Cir
92243
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
RENT COMPARABLES - 2 BD
Z
1 2
ADDRESS480 Aurora Dr
ADDRESS699 Wake Ave
92243
UNIT MIX 3 Bedroom/2 Bathroom UNIT MIX 3 Bedroom/2 Bathroom
92243
SQFT 950 SQFT 1130
RENT $1,000 RENT $1,325
HIGHLIGHTS HIGHLIGHTS
PRICE/SQFT $1.05 PRICE/SQFT $1.17
On-site Laundry Pool and Spa
Pool No Pets
Parking Laundry Service
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
RENT COMPARABLES - 3 BD
Z
S) 1463-1683 S. 5th St 1) 2)
3) 4) 5) 2095 Cottonwood Cir1507 W Barbara Worth Dr
©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References
to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AVERAGE RENT - 1 BEDROOM
MAP LEGEND
AVERAGE RENT - 2 BEDROOM AVERAGE RENT - 3 BEDROOM
$888 $994 $1,163
480 Aurora Dr 699 Wake Ave
2075-85 Cottonwood Cir
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
RENT COMPARABLES MAP
City Zip Lot Size
1463-1683 S. 5th Street El Centro 92243 89,543
GRM Estimated
Current Market Current BLDG/SF
9.91 8.54 6.03% 36,470*
No. Rent Total Market Total Est. Sq.ft Actual Market
12 $698 $8,375 $775 $9,000 600 sq. ft. Mgt-Off Site $25,466 $29,565
38 $771 $29,314 $850 $32,300 685 sq. ft. Mgt-On Site $0 $2,880
1 $0 $0 $600 $600 685 sq. ft. Gas & Elec. $2,239 $2,239
3 $900 $2,700 $950 $2,850 880 sq. ft. Wrt & Swr $39,360 $39,360
Landscaping $5,478 $5,478
Trash $9,720 $9,720
Pest Control $2,771 $2,771
Maintenance $27,000 $27,000
Miscellaneous $2,000 $2,000
Insurance $10,065 $10,065
Taxes $56,609 $56,609
Pool $5,000 $5,000
54 Actual $40,389 Market $45,050
Garage Rental Income: 37 single car garages $1,610 $3,700
Laundry Income $365 $365 Total $185,708 $192,687
Closet Rental Income: 16 storage closets $80 $160
Total Monthly Other Income $2,055 $4,225 Total Per Est Sq Ft: $5.09 Total Per Est Sq Ft: $5.28
Total Per Unit: $3,439 Total Per Unit: $3,568
Total Rental & Other Income $42,444 $49,275 Total Per GSI: 36% Total Per GSI: 38%
Annual Operating Proforma
Down Payment 25% Amount $1,262,250
Gross Rental Income Interest Rate 4.25%
Plus Other Income # of Years Amortized Over 30
Gross Scheduled Income Proposed Loan Amount $3,786,750
Less: Vacancy Factor 4% Loan Points
Gross Operating Income Other Loan Costs $3,500
Less: Operating Expenses Debt Coverage Ratio Current 1.36 Market 1.69
Net Operating Income
Less: First TD Payments
Name: Ricardo Lopez, Senior Associate
Pre-Tax Cash Flow Phone: 619-736-0201
Cash On Cash Return CalBRE# 0193628
Principal Reduction Email: [email protected]
Total Potential Return 2635 Camino Del Rio South #300, San Diego, CA, 92108
Add'l Capital for Repairs (1st Year)
Acquisition Costs
Financing Costs
Down Payment
Total 1st Year Cost©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to
square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Property Description
$0 $0 Desert Gardens is a 54 unit multi-family property set across two contiguous parcels totaling just over 2 acres
and nearly spanning a full city block in El Centro, CA. One parcel contains (1) 8 unit building and the other
parcel contains the remaining 46 units set across 8 buildings. Built in 1953 and remodeled in 2018, Desert
Gardens consists of (12) 1br-1ba, (39) 2br-1ba and (3) 3br-1ba units. There are 37 single car garages, 12 off-
street spaces and ample street parking. Tenants enjoy spacious floorplans the majority of which have updated
with new countertops, kitchen cabinets, and laminate flooring. Each unit has its own HVAC system and hot
water heater.
$5,000 $5,000
$3,500 $3,500
$1,262,250 $1,262,250
$63,840 $63,840
11.4% 17.1%
$1,270,750 $1,270,750
Contact Information
6.35% 12.08%
$80,686 $153,446
($223,542) ($223,542)
$185,708 $192,687
$304,228 $376,989
$509,323 $591,300
$19,387 $21,624
$489,937 $569,676
Actual Market
$484,663 $540,600
$24,660 $50,700
Financing Information
Miscellaneous
Insurance
Taxes
Pool
Total
City Trash Cans
Pest Control
Maintenance
2br-1ba-Onsite Mngr Gas & Elec.
3br-1ba Wrt & Swr
Landscaping
2br-1ba Mgt-On Site
CAP Rate %
Price Market $ / Unit $ / Sq Ft
$5,049,000 7.47% $93,500 $138.44
Estimated Average Monthly Income Analysis Estimated Operating Expenses
Floor Plan
1br-1ba Mgt-Of Site
54 CA 1953 Renov. 2018 053-552-005-000 & 053-552-013-000
# Units Address State Yr Built (Aprx.) APN
Building Your Wealth Through
Apartment Investments
1463-1683 S. 5th Street, El Centro, CA 92243
CASH FLOW SHEET
2635 Camino Del Rio South, Suite 300
San Diego, CA 92108
Phone: 619.299.3000 Fax: 619.295.3737
Website: http://aciapartments.com
Apartment Consultants Inc. (ACI) is the most successful income property brokerage firm in San Diego County.Since 1982, we have
specialized in apartment and investment property transactions, and maintained a solid performance despite changing economic cycles. With an
average of more than 140 closed escrows per year, ACI has closed more San Diego County income property escrows than any other firm in the
county new to apartment investing or an experienced
investor looking to upgrade your portfolio, ACI is the right choice to achieve your long-term investment goals.
Ricardo Lopez - Senior Associate
Phone: 619.736.0201
Email: [email protected]