MARKETING PACKAGE
2446 CINCINNATI ST, LOS ANGELES, CA 90033
2446 CINCINNATI ST
MARKETING PACKAGE TABLE OF CONTENTS 01
Property Overview
02 Financial Analysis 03 Location Overview CONTACT INFORMATION
mike hanassab Senior Director (424) 325/2642
elliot hassAn Senior Director (424) 325/2643
John katnik Senior Associate (424) 325/2644
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
SECTION ONE
PROPERTY OVERVIEW
03
2446 CINCINNATI ST, LOS ANGELES, CA 90033
PROPERTY OVERVIEW
DETAILS
Street Address City State Zip Code APN
2446 Cincinnati St Los Angeles CA 90033 5177-034-004
Number of Units
4
Parking
Garage & Tandem
Number of Buildings
2
Zoning
R4
Number of Stories
2
Unit Mix
Water
Master-Metered
Electric
Individually Metered
Rentable Square Feet
5,564 SF
Gas
Individually Metered
Lot Size
7,000 SF
Construction
Wood-frame Stucco
Year Built
1904
Roof
(2) 2 Bed / 1 Bath (1) 3 Bed / 2 Bath (1) 5 Bed / 2 Bath
Flat
HIGHLIGHTS
04
•
Building is Located in a Gentrifying Area.
•
Stabilized Asset.
•
Great Unit Mix.
•
Attractive Residential Financing Available.
•
Close Proximity to Keck Medicine of USC.
2446 CINCINNATI ST, LOS ANGELES, CA 90033
SECTION TWO
FINANCIAL ANALYSIS
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
FINANCIAL ANALYSIS
PRICING ANALYSIS
$1,285,000 Price Price per Unit Price per Square Foot
CURRENT
PRO FORMA
4.59%
6.09%
13.91
11.45
Gross Income
$89,593
$108,834
Expenses
$30,557
$30,557
NOI
$59,036
$78,277
CAP Rate GRM $1,285,000 $321,250 $230.95
This information has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless James Capital Advisors, Inc. from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
FINANCIAL ANALYSIS
INCOME AND EXPENSE ANNUAL
INCOME
CURRENT
PRO FORMA
Base Rental Income
$92,364
Gross Potential Income
$92,364
Vacancy Allowance
$2,771
Effective Gross Income
$89,593
Operating Expenses
$30,557
Net Operating Income
$59,036
07
(3%)
ANNUAL
EXPENSE
CURRENT
PRO FORMA
$112,200
Property Taxes
$14,279
$14,279
$112,200
Insurance
$2,500
$2,500
DWP
$8,400
$8,400
Repairs & Maintenance
$2,000
$2,000
Pest Control
$768
$768
Landscaping
$960
$960
Direct Assessments
$850
$850
Reserves
$800
$800
Operating Expenses
$30,557
$30,557
$3,366
(3%)
$108,834 (34%)
$30,557 $78,277
(28%)
2446 CINCINNATI ST, LOS ANGELES, CA 90033
FINANCIAL ANALYSIS
RENT SCHEDULE
PRO FORMA
PRO FORMA
$1.19
$1,800
$1.64
$1,210
$1.10
$1,800
$1.64
2,300 SF
$2,731
$1.19
$3,200
$1.39
1,064 SF
$2,445
$2.30
$2,550
$2.40
5,564 SF
$7,697
UNIT #
UNIT TYPE
SQ. FOOTAGE
RENT
RENT PER SF
1
2 Bed / 1 Bath
1,100 SF
$1,311
2
2 Bed / 1 Bath
1,100 SF
3
5 Bed / 2 Bath
4
3 Bed / 2 Bath SFR
TOTAL
RENT
RENT PER SF
$9,350
* Sq. Footage of All Units are Estimated.
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
SECTION THREE
LOCATION OVERVIEW
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
LOCATION OVERVIEW
SUBMARKET
Arts District
Downtown Los Angeles
Chinatown
The Arts District in Los Angeles is an industrial area of former warehouses and factories in Downtown LA that has been home to artist studios since the 1,970’s. It has finally reached the critical mass to be designated as the official Downtown LA Arts District. The artist studios and lofts are still mostly under the radar, although there are a few open studios and galleries. It is the murals, street art, maker co-ops and an influx of trendy eating establishments that have made the Arts District a “thing.”
Downtown Los Angeles (DTLA) is the central business district of Los Angeles, California, as well as a widely diverse residential neighborhood of some 58,000 people. Downtown, comprising diverse smaller areas such as Chinatown, Little Tokyo and the Arts District, offers renowned art museums, cuttingedge restaurants & hip bars. It is home of the Staples center where the Lakers, the Clippers and the Kings play every season. It is also the home of the Los Angeles Convention Center where special events take place quarterly.
Located in Downtown L.A. near the city’s civic and cultural center, Chinatown is one of L.A.’s most popular tourist destinations. Chinatown celebrated its grand opening in June 1,938 as “New Chinatown” - L.A.’s first Chinatown was razed to make way for Union Station. The first such neighborhood in the U.S. that was owned by Chinese residents, Chinatown is experiencing a modern-day renaissance. From the hottest new restaurants to art galleries and Bruce Lee’s former studio, Chinatown has a lot to offer and is continuing to grow.
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
LOCATION OVERVIEW
AERIAL
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
LOCATION OVERVIEW
AERIAL
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
LOCATION OVERVIEW
WALKABILITY 1.
The ROW DTLA 777 Alameda St, Los Angeles, CA 90021 3 MILES FROM SUBJECT PROPERTY
2. Arts District Brewing Company 828 Traction Ave, Los Angeles, CA 90013 2 MILES FROM SUBJECT PROPERTY
3. Art Share L.A. 4th Pl, Los Angeles, CA 90013 2 MILES FROM SUBJECT PROPERTY
4. Guerrilla Tacos 7th St, Los Angeles, CA 90021 2 MILES FROM SUBJECT PROPERTY
5. Nightshade 923 E. 3rd St #109, Los Angeles, CA 90013 2 MILES FROM SUBJECT PROPERTY
6. Hauser & Wirth 901-909 E. 3rd St, Los Angeles, CA 90013 2 MILES FROM SUBJECT PROPERTY
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2446 CINCINNATI ST, LOS ANGELES, CA 90033
LOCATION OVERVIEW
WALKABILITY
01 THE ROW DTLA
This massive development will have a multitude of ammenties.
02 ARTS DISTRICT BREWING COMPANY
This brewery has over 40 unique beers from all over the country.
04 GUERILLA TACOS
Food-love flocks here for the famous hamachi tostadas.
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03 ART SHARE L.A
Art share has emerged as a vibrant community hub in downtown LA.
05 NIGHTSHADE
Top Chef winner Mei Lin is the head chef and creates a unique menu.
06 HAUSER & WIRTH
This gallery hosts performances, film screenings & more.
2446 CINCINNATI ST, LOS ANGELES, CA 90033
LOCATION OVERVIEW
DEMOGRAPHICS
POPULATION
15
1-Mile
3-Mile
5-Mile
2,025 Projection
55,036
302,144
1,031,897
2,020 Estimate
55,522
299,525
1,016,150
2,010 Census
59,886
294,756
963,911
Growth ‘20 - ‘25
-0%
0%
1%
Growth ‘10 - ‘20
-7%
1%
5%
HOUSEHOLDS
1-Mile
3-Mile
5-Mile
2,025 Projection
14,080
89,785
311,507
2,020 Estimate
14,263
88,428
305,807
2,010 Census
15,704
84,015
285,194
Growth ‘20 - ‘25
-1%
1%
1%
Growth ‘10 - ‘20
-9%
5%
7%
Average Income
$45,698
$59,061
$62,130
Median Income
$32,990
$39,604
$40,817
2446 CINCINNATI ST, LOS ANGELES, CA 90033
JAMES CAPITAL ADVISORS, INC.
DISCLAIMER
The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto. The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants. A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.
CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.
RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.
NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.
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www.jamescapitaladvisors.com
@jamescapitaladvisors
JAMES CAPITAL ADVISORS, INC.
THANK YOU FOR YOUR TIME CONTACT
mike hanassab Senior Director
(424) 325/2642
mike.hanassab@jamescapitaladvisors.com CA RE Lic. 01484891
elliot hassan Senior Director
(424) 325/2643
elliot.hassan@jamescapitaladvisors.com CA RE Lic. 01481211
John katnik Senior Associate
(424) 325/2644
john.katnik@jamescapitaladvisors.com CA RE Lic. 02002695
James Capital Advisors, Inc.
www.jamescapitaladvisors.com
@jamescapitaladvisors