Memorandum $995,000€¦ · SoFi Stadium is the first indoor-outdoor stadium to be constructed. Adjacent to the stadium and under the same roof canopy is a 6,000-seat performance

600 S EUCALYPTUS AVEINGLEWOOD, CA 90301

OfferingMemorandum $995,000

WOODY STAHL

(310) [email protected] - 01399621

SOUGHT AFTER 4-UNIT IN CLOSE PROXIMITY TO THE SOFI STADIUM (310) 780-1899

[email protected] - 01717818

BRETT LYON

Video Tour HereVideo Tour

http://lyonstahl.com

http://LYONSTAHL.COM

https://vimeo.com/405160887


600 S EUCALYPTUS AVE,INGLEWOOD, CA 90301

SOUGHT AFTER 4-UNIT IN CLOSE PROXIMITY TO THE SOFI STADIUM

Table 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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PropertyOverview



PropertyOverview

Property Summary

Price $995,000

Address 600 S EUCALYPTUS AVE

City, State, Zip Inglewood

County Los Angeles

Year Built 1930

Number Of Units 4

Building Size 2,893 SF

Lot Size 5,964 SF

Cap Rate 3.69%

Pro Forma Cap Rate 6.01%

Grm 16.72

Pro Forma Grm 11.88

Price / Bldg Sf $343.93

Price / Lot Sf $166.83

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PropertyOverview

600 S Eucalyptus Ave, Inglewood 90301- 4-Units | $ 995,000

- Located Approximately 2.0 Miles to the Entrance of the New $5B Sofi Stadium and Hollywood Park Entertainment Complex, Which Will Feature 1.5M Sq. Ft. of Retail and Office, 2,500 Residences, a Hotel, and a 20 Acre Park

- Well-Maintained 4-Unit Consisting of (1) 3-Bed/2-Bath, (2) 1-Bed/1-Bath & (1) 0-Bed/1-Bath

- Four (4) Garages Spaces Plus An Additional Parking Space For The Studio

- 2,893 SF of Living Space Situated on a 5,394 SF Lot

- Currently Operating at a 3.69% CAP & 16.72 GRM | Pro Forma CAP 6.01% & 11.88 GRM

Lyon | Stahl Investment Real Estate is pleased to present 600 S Eucalyptus Ave, a 4-unit apartment building located in a desirable northwest pocket of Inglewood, just a short distance to the Forum, future NFL stadium, and LAX. These two adjacent buildings make up a total of 2,893 Sf in living space situated on a 5,964 SF parcel of land. 600 S Eucalyptus Ave offers a great unit mix consisting of one (1) 3-bed/2-bath, two (2) 1-bed/1- bath units and one (1) 0-bed/1-bath unit. The building features on-site laundry and four covered parking spaces.

This is an excellent opportunity for a potential investor to obtain 30-year fixed residential financing while rates are at a historical low. Located just two miles west of the Inglewood multi-billion dollardevelopments, 600 S Eucalyptus Ave is an excellent investment opportunity with significant upside and long term appreciation potential.

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FinancialOverview



Property Summary

ADDRESS 600 S EUCALYPTUS AVE, INGLEWOOD 90301 YEAR BUILT 1930

DOWN PAYMENT 40% ($398,000) PARKING 4 GARAGE SPACES

NUMBER OF UNITS 4 CURRENT NOI $36,985

COST PER UNIT $248,750 PRO FORMA NOI $48.385

LOT SIZE 5,964SF CURRENT CAP RATE 3.59%

GROSS RENTABLE SF 2,893 SF PRO FORMA CAP RATE 5.91%

PRICE PER BLDG SF $343.93 CURRENT GRM 16.72

PRICE PER LAND SF $166.83 PRO FORMA GRM 13.87d

Proposed Financing

LOAN AMOUNT $597,000 LOAN-TO-VALUE 40%

DOWN PAYMENT $398,000 AMORTIZATION 30-YEAR

INTEREST RATE 3.85% LOAN TERM 5-YEAR FIXED

MONTHLY PAYMENT $2,799 PROPOSED/EXISTING PROPOSED

ANNUAL PAYMENT $33,585 DEBT COVERAGE RATION (DCR) 1.09

Price $995,000

FinancialOverview 7



Annualized Operating Data

CURRENT ACTUALS PRO FORMA RENT

GROSS SCHEDULED INCOME $59,520 - $83,760 -

VACANY RATE RESERVE $2,976 5% $4,188 5%

GROSS OPERATING INCOME $56,544 - $79,572 -

EXPENSES $20,796 35% $20,796 25%

NET OPERATING INCOME $35,748 - $58,776 -

LOAN PAYMENTS $33,585 - $33,585 -

PRE TAX CASH FLOWS $2,163 0.54% $25,191 6.33%

PRINCIPAL REDUCTION $10,790 - $10,790 -

TOTAL RETURN BEFORE TAXES $12,953 3.25% $35,981 9.04%

Expense Summary*ESTIMATED Per Unit

NEW TAXES (NEW ESTIMATE) $13,453

MAINTENANCE (3%) $1,793

INSURANCE $1,157

UTILITIES ($800/unit/year) $3,200

LANDSCAPING ($100/mo) $1,200

TOTAL EXPENSES $20,796

EXPENSES AS %/SGI 34.94%

EXPENSE PER SF $3.49

EXPENSE PER UNIT $5,199

Scheduled IncomeCURRENT MARKET

TOTAL SCHEDULED RENT $4,930 $6,950

LAUNDRY $0 $0

GARAGES $30 $30

MONTHLY SCHEDULED GROSS INCOME $4,960 $6,980

ANNUALIZED SCHEDULED GROSS INCOME $59,520 $83,760

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 8



Unit # Unit Type Actual Rent Market Rent Notes

1 3+2 $1,830 $2,650

1 1+1 $1,050 $1,650

1 1+1 $1,050 $1,650

1 0+1 $1,000 $1,000

UTILITIES PAID BY TENANT $30 $30

MONTHLY TOTALS $4,960 $6,950

ANNUALIZED TOTALS $59,520 $83,760

RentRoll 9


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PropertyPhotography



PropertyPhotography 11

Video Tour




PropertyPhotography 12


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Comparables



Address Price Units Year Built Building Size Price/Unit Price/SF CAP Rate GRM Sale Date

1 128 E Spruce Ave, Inglewood, CA $840,000 3 1912 2,173 SF $280,000 $386.56 N/A 15.27 11/22/2019

2 435 Fir Ave, Inglewood, CA $1,000,000 3 1910 2,538 SF $333,333 $394.01 N/A N/A 6/07/2019

3 801 Victor Ave, Inglewood, CA $1,000,000 4 1955 4,076 SF $250,000 $245.34 7.00% 10.41 5/20/2019

4 7116 S La Cienega Blvd,Inglewood, CA $1,000,000 4 1957 3,648 SF $250,000 $274.12 6.94% 13.44 6/28/2019

5 625 Aerick St, Inglewood, CA S1,075000 4 1954 3,298 SF $268,750 $325.96 4.58% 15.01 2/14/2020

6 905 Victor Ave, Inglewood, CA $1,380,000 4 1964 4,335 SF $345,000 $318.34 3.88% 21.30 4/18/2019

Averages $1,044,000 N/A N/A 3,345 SF $287,847 $324.06 5.60% 15.09 N/A

* 600 S Eucalyptus Ave, Inglewood, CA $995,000 4 1930 2,893 SF $248,750 $343.93 3.59% 16.72 N/A

SoldComparables 14



Sold ComparablesMap 15



Address Date Leased Unit Type Unit Size Rental Rate

1 617 E 97th StInglewood, CA March 2020 3-Bed/2-Bath 1,200 SF $2,585

2 611 E Kelso StInglewood, CA Feb 2020 3-Bed/2-Bath 1,200 SF $2,650

3 239 E Buckthorn StInglewood, CA Feb 2020 1-Bed/1-Bath 564 SF $1,600

4 215 N Inglewood AveInglewood, CA Aug 2019 1-Bed/1-Bath 700 SF $1,600

Averages N/A3-Bed/2-Bath1-Bed/1-Bath N/A

$2,618$1,600

* 600 S Eucalyptus, Inglewood N/A3-Bed/2-Bath1-Bed/1-Bath0-Bed/1-Bath

$1,850$1,050$1,000

LeaseComparables 16



LeaseComparables Map 17


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AreaOverview



AreaOverview

City Overview

The City of Inglewood is currently experiencing an enormousrevitalization, bringing the new Hollywood ParkRedevelopment, slated to be the world’s most expensivesports stadium. In addition to the stadium, the developmentwill bring 3,000 new housing units, a luxury hotel andapproximately 620,000 SF of new retail. Along with theHollywood Park Redevelopment, the Los Angeles Clippers arein negotiations to build their new stadium just south ofHollywood Park. With all the new development occurring inInglewood and the rapidly changing demographics of the city,527 West Hyde Park Boulevard offers an astute investor theopportunity to capitalize on the swiftly appreciatingsubmarket and realize a tremendous return on theirinvestment.

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CityProjects 20

The new home for the Los Angeles Chargers and Rams will bethe largest stadium in the NFL. Costing nearly $5 Billion ($4.963Billion), the 3 Million sq. ft. stadium is set to be the largeststadium in the NFL and will be able to seat 70,240. The pricetickets are also expected to rise with season tickets predictedto cost $350-400 per game. Construction is 60% complete andis scheduled to be ready for the 2020 season. The stadium willalso host the 2022 Super Bowl.

The NFL stadium is only one part of a larger plan. The areaaround the stadium, known as Hollywood Park, is also underconstruction and will include about 3,000 new residential units,620,000 square feet of shops and restaurants, green spaceincluding a manmade lake, and lastly a revamped casino. Thenew Hollywood Park is expected to be completed in 2023.

SoFi Stadium is the first indoor-outdoor stadium to beconstructed. Adjacent to the stadium and under the same roofcanopy is a 6,000-seat performance venue and the 2.5-acreAmerican Airlines Plaza. The performance venue will host avariety of events, including concerts, esports events, awardshows, as well as community gatherings. Hollywood Park willfeature more than 1.5 million square feet of retail and officespace initially, 2,500 residences, a hotel, and more than 20acres of parks.

SoFi Stadium Development



CityProjects 21

The NFL stadium isn’t the only professional sporting arena boundfor Inglewood. It’s looking very likely that the Clippers will moveout of Downtown LA’s Staples Center and into the South LosAngeles city. A short document released by the city states thatthe stadium will be located across from the Hollywood ParkDevelopment and seat 18,000. Additionally, the stadium will bejoined by a new practice facility, retail space, and outdoor plazaswith basketball courts that are open to the public. The SteveBalmer privately financed stadium will cost around $1.2 Billion andis expected to open by 2024 when the Clipper’s Staples Centerlease is up.

Clippers Arena



LocalMap 22



AerialMap 23

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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

http://lyonstahl.com

http://LYONSTAHL.COM

Documents

Memorandum $995,000€¦ · SoFi Stadium is the first indoor-outdoor stadium to be constructed. Adjacent to the stadium and under the same roof canopy is a 6,000-seat performance