LOS ANGELES, CA 90011 640,000 - LoopNet

4 Units

Undergoing Major Renovations

2508 NAOMI AVENUE LOS ANGELES, CA 90011

$640,000

TABLE OF CONTENTS

04 The Offering

05 Underwriting

07 Rent Roll

08 Maps

09 Property Photos

13 About Agent

2508 Noami Avenue

COMPASS COMMERCIAL | LOS ANGELES 3Zachary Krasman | Naomi Offering Menorandum

PROPERTY OVERVIEW

2508 Noami Avenue


THE OFFERING

The subject property is a 4 unit apartment complex with a unit mix of two 3 bedroom, 2 bathroom units, and two 4 bedroom, 1 bathroom units. The improvements are built on a 3,438 square foot lot with total rentable square footage of 5,208. The property is located on the east side of Naomi Ave in Central-Alameda (just south of DTLA), just south of 25th St and north of E Adams Blvd. This property is a major fixer with substantial upside in rents—major renovations are on-going. The property sits conveniently near Downtown LA and in close proximity to the neighboring communities of Historic South Central, Exposition Park, Pico-Union, South Park, University Park, and Vermont Square, major freeways, and much more. This property can be sold on its own or as part of a portfolio including 1155 E 24th St and 1352 E 21st St.

Price Zoning

Building Gross Sq Ft Cost/ Sq Ft

R2

5,208

Year Built 1895

Units 4

Opportunity Zone NO

Lot Sq Ft 4,300

APN 5119-023-020

TOC Tier 3

Market CAP

Market GRM

Substantial Upside

Undergoing Major Renovations

PROPERTY DESCRIPTIONAT A GLANCE

For more information please contact our exclusive sales agent:

ZACHARY KRASMAN

Senior Associate

O 310. 500. 3906

C 323. 682. 1120

[email protected]

DRE 01814990

$640,000

$123

18.02%

4.64

2508 Noami Avenue


UNDERWRITING

PROPERTY ABSTRACT

Units 4

Year Built 1895

Lot Sq Ft

Bldg Gross Sq Ft 5,208

Parking Spaces

Zoning R2

FINANCIAL INDICATORS

Price

Down Payment

Down Payment % 100%

Current CAP

Market CAP

Current GRM

Market GRM

Cost Per Sq Ft.

Cost Per Unit

Cash on Cash Return

Expenses Per Unit

Expenses Per Sq Ft

ESTIMATED EXPENSES

Taxes 1.25% of Price

Insurance

Repairs/Maint $55/ Unit/ Month $2,640

Utilities $55/ Month $2,640

Trash/Pest/Gardener $35/ Unit $1,680

Off-site Mgmt: 5% of SGI $2,082

Total Expenses

4,300

$640,000

$640,000

3.61%

18.02%

14.91

4.64

$123

$160,000

3.61%

$4,639

$3.56

$8,000

$18,556

$1,514actual

2508 Noami Avenue


UNDERWRITING

SOURCE OF INCOME

CURRENT MARKET

No. of Units Unit Type Monthly Rent/Unit Monthly Income Monthly Rent/Unit Monthly Income

2 $799 $1,597 $2,750 $5,500

2 4+1 $990 $1,980 $3,000 $6,000

Total Rental Income $3,577 $11,500

Total Annual Income $3,577 $11,500

ESTIMATED ANNUALIZED OPERATING DATA

CURRENT MARKET

Scheduled Gross Income $42,924 $138,000

Less Vacancy 3.0% $1,288 3.0% $4,140

Gross Operating Income $41,636 $133,860

Less Expenses 49.4% 15.4%

Net Operating Income

Less Loan Payments $0 $0

Pre-Tax Cash Flow

Percentage Return

3+1

3.61% 18.02%

$18,556

$23,080

$23,080

$18,556

$115,304

$115,304

2508 Noami Avenue


RENT ROLL

UNIT TYPE RENT

1 4+1 $980

2 3+1 $820

3 4+1 $1,000

4 3+1 $777

Monthly Income $3,577

Annual Income $42,924

2508 Noami Avenue


MAPS

2508 Noami Avenue


PROPERTY PHOTOS

2508 Noami Avenue


PROPERTY PHOTOS

2508 Noami Avenue


PROPERTY PHOTOS

2508 Noami Avenue


2508 Noami Avenue


ABOUT AGENT

COMPASS COMMERCIAL | LOS ANGELES 14

About Agent

Zachary Krasman | Naomi Offering Menorandum

Zach joined Compass Commercial in 2016 after a decade in commercial real estate. As a Partner in a group at IREA, his team closed more than $260,000,000 between 2012-2016 alone. As a client-focused veteran in the business, Zach brings with him that experience and market knowledge, allowing him to deftly guide and navigate his clients through each and every transaction. His attention to detail and client-first mentality has fueled his success and led him to the forefront of the industry. Zach specializes in the sale and acquisitions of multifamily and commercial properties in Los Angeles, with a keen knowledge and focus in West Hollywood, Beverly Hills, and Santa Monica.

Zach lives in Santa Monica with his husband, daughter, and two black labs. He has a passion for architecture, technology, and the culinary arts.

Zachary KrasmanSenior Associate

O 310. 500. 3906C 323. 682. [email protected] 01814990

2508 Noami Avenue


COMPASS COMMERCIAL


At Compass Commercial, our focus is to provide clients with comprehensive and superior, trustworthy services. This full spectrum of value-added services, from market research to ongoing advisory services, is offered to all commercial property types including multi-family, office, retail, industrial, land and development investments. Our services go much further than purchasing or selling an asset. Working with clients, we identify their real estate investment goals and work side by side to build a strategic real estate investment plan.

About Compass Commercial

Commercial Investment Services

The following outlines the distinctive platform of transaction and consultative services we offer our clients:

Acquisitions-Commercial Properties

We specialize in identifying underperforming investment opportunities. We provide accurate and reliable evaluation of an asset’s performance relative to other real estate and non-real estate investment alternatives. Using our financial analysis, investment alternatives are scrutinized for projected cash flow, residual values at risk.

Dispositions-Commercial Properties

Maximizing an asset’s value by developing individualized marketing plans is our area of expertise.

Commercial Leasing Services We specialize in office, retail, and creative space.

Advisory Services

Asset management - We provide a comprehensive real estate investment analysis to maximize the investment return by determining if the asset should be sold, refinanced, renovated, or held.

Market Research

We have access to the latest commercial real estate information and trends that are essential in making informed decisions. This includes researching and analyzing competitive properties, prevailing market conditions, and building occupancy.

Our Services


CONFIDENTIALITY AND DISCLAIMER

The information contained in the offering is confidential, furnished solely for the purpose of review by a prospective purchaser of the subject property. The material is based in part upon information supplied and in part upon information obtained by Compass Commercial from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by the owner, Compass Commercial, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communications. Without limiting the generality of the foregoing, the information shall not be deemed a representation of the state of affairs of the subject property or constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of the information. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.

The Offering Memorandum was prepared by Compass Commercial. It contains select information pertaining to the subject property and does not purport to be all inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the subject property will be made available to qualified prospective purchasers.

In the Offering certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.

The Offering is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Compass Commercial or the owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the subject property described herein.

The owner and Compass Commercial expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offer to purchase the subject property and/or to terminate discussions with any party at any time with or without notice. The owner shall have no legal commitment or obligation to any interested party reviewing the Offering or making an offer to purchase the subject property unless a written agreement for the purchase of the subject property has been fully executed and delivered by the owner and such party and any conditions to the owner’s obligations there under have been satisfied or waived and then only to the extent expressly provided for therein. Compass Commercial is not authorized to make any representations or agreements on behalf of the owner.

For more information please contact our exclusive sales agent:

Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

ZACHARY KRASMANSenior Associate

O 310. 500. 3906C 323. 682. 1120

[email protected] 01814990

Documents

LOS ANGELES, CA 90011 640,000 - LoopNet