MARKETING PACKAGE
704 S. FIR AVE, INGLEWOOD, CA 90301
704 S. FIR AVE
MARKETING PACKAGE TABLE OF CONTENTS 01
Property Overview
02 Financial Analysis 03 Location Overview CONTACT INFORMATION
John katnik Senior Associate (424) 325-2644
mike hanassab Senior Director (424) 325-2642
elliot hassAn Senior Director (424) 325-2643
02
704 S. FIR AVE, INGLEWOOD, CA 90301
SECTION ONE
PROPERTY OVERVIEW
03
704 S. FIR AVE, INGLEWOOD, CA 90301
PROPERTY OVERVIEW
DETAILS
Street Address City State Zip Code APN
704 S. Fir Ave Inglewood CA 90301 4022-025-016
Number of Units
8
Parking
4 Garage Spaces / 4 Carport Spaces
Number of Buildings
1
Zoning
INR3YY
Number of Stories
2
Unit Mix
Water
Master-Metered
Electric
Individually Metered
Rentable Square Feet
7,216 SF
Gas
Individually Metered
Lot Size
9,614 SF
Construction
Wood-Frame Stucco
Year Built
04
1960
Roof
(4) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (2) 2 Bed / 1.5 Bath (1) 3 Bed / 2 Bath
Pitched
704 S. FIR AVE, INGLEWOOD, CA 90301
PROPERTY OVERVIEW
Highlights
Central Inglewood Location The Subject Property lies 1 mile from the SoFi development, the Forum and the Clippers stadium development.
Central AC / Heating & Vinyl Windows Property features central AC / heating and vinyl windows.
Value-Add Opportunity 65% upside in rents - first time on the market since 2004.
On-Site Laundry and Parking 4 Garage Spaces and 4 Covered Carport Spaces are available.
Utilities Individually Electricity and Gas
Metered
for
Tenants are responsible for paying electricity and gas.
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704 S. FIR AVE, INGLEWOOD, CA 90301
SECTION TWO
FINANCIAL ANALYSIS
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704 S. FIR AVE, INGLEWOOD, CA 90301
FINANCIAL ANALYSIS
PRICING ANALYSIS
$2,100,000 Price Price per Unit Price per Square Foot
CURRENT
PRO FORMA
3.00%
6.04%
17.46
11.08
Gross Income
$117,366
$184,587
Expenses
$54,265
$57,730
$63,101
$126,857
CAP Rate GRM $2,100,000 $262,500 $291.02
NOI
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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704 S. FIR AVE, INGLEWOOD, CA 90301
FINANCIAL ANALYSIS
INCOME AND EXPENSE ANNUAL
INCOME
CURRENT
PRO FORMA
Base Rental Income
$120,300
Laundry Income
ANNUAL
EXPENSE
CURRENT
PRO FORMA
$189,600
Property Taxes
$26,670
$26,670
$675
$675
Insurance
$3,250
$3,250
Gross Potential Income
$120,975
$190,275
Water
$7,600
$7,600
Vacancy Allowance
$3,609
Electricity
$200
$200
Effective Gross Income
$117,366
Gas
$3,250
$3,250
Operating Expenses
$54,265
Repairs & Maintenance
$4,000
$4,000
Net Operating Income
$63,101
Reserves
$1,600
$1,600
Management Fee
$6,015
$9,480
Pest Control
$720
$720
Gardener
$960
$960
Operating Expenses
$54,265
$57,730
08
(3%)
$5,688
(3%)
$184,587 (46%)
$57,730 $126,857
(31%)
704 S. FIR AVE, INGLEWOOD, CA 90301
FINANCIAL ANALYSIS
RENT SCHEDULE
PRO FORMA
UNIT #
UNIT TYPE
SQ. FOOTAGE
RENT
RENT PER SF
RENT
01**
3 Bed / 2 Bath
1,350 SF
$1,850
$1.37
$2,700
$2.00
02
1 Bed / 1 Bath
725 SF
$1,050
$1.45
$1,650
$2.28
03
1 Bed / 1 Bath
725 SF
$1,050
$1.45
$1,650
$2.28
04
2 Bed / 1.5 Bath
1,000 SF
$1,250
$1.25
$2,200
$2.20
05
2 Bed / 1 Bath
950 SF
$1,475
$1.55
$2,100
$2.21
06
1 Bed / 1 Bath
725 SF
$1,050
$1.45
$1,650
$2.28
07
1 Bed / 1 Bath
725 SF
$1,050
$1.45
$1,650
$2.28
08
2 Bed / 1.5 Bath
1,000 SF
$1,250
$1.25
$2,200
$2.20
$7,200
$10,025
TOTAL
RENT PER SF
$15,800
* Square footage of all units are estimated. ** Unit has washer / dryer hookups and their own private yard.
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704 S. FIR AVE, INGLEWOOD, CA 90301
SECTION THREE
LOCATION OVERVIEW
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704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
INGLEWOOD
Inglewood, CA As a gateway to major commercial centers of the United States and internationally, Inglewood is in a unique position on the shore of the Pacific Rim. Inglewood is located in Los Angeles County in Southern California. Inglewood is approximately 20 minutes southwest of Los Angeles, 20 minutes northeast of Redondo Beach and 15 minutes from the Pacific Ocean and is part of the Los Angeles metropolitan area. The Los Angeles MSA is the 18th largest metropolitan area in the world and the second-largest metropolitan area in the United States The Los Angeles International Airport is directly accessible by Inglewood’s Century Boulevard - one of the City’s busiest commercial corridors. Proximity to the airport, the Los Angeles and Long Beach Harbors, and four major freeways facilitate both domestic and international trade. Inglewood residents can easily take advantage of all of the arts and entertainment attractions of Los Angeles as well as the rest of the Los Angeles metropolitan area. Some of the more notable high traffic areas near Inglewood include the Forum, LAX and the soon to be completed SoFi Stadium. With more than 250,000+ residents within a 3-mile radius, Inglewood is thiving and in the center of an everchanging Souther California with a blend of old and new landmards to remind residents and visitors of the rich heritage of the City and the fact that history is still being made in Inglewood.
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704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
Major Developments SoFi Stadium SoFi Stadium is an unprecedented and unparalleled sports and entertainment destination being built in Inglewood, CA just 1.5 miles away from the subject property. Located on the site of the former Hollywood Park racetrack, the stadium is the centerpiece of a 298-acre mixed-use development featuring retail, commercial office space, a hotel, residential units, and outdoor park spaces.
LA Clippers Arena
SoFi Stadium
The Clippers are constructing a new $1.2 billion basketball arena in near proximity to SoFi Stadmiun along with a practice facility, team offices, a medical facility, retail stores, restaurants and parking. The 18,000-seat venueis expected to be complete just in time for the 2024-25 season.
Crenshaw/LAX Line One of Los Angeles’s most anticipated transit projects, an 8.5-mile light rail line connecting South LA to the South Bay is now about 95% complete. The Crenshaw/LAX Line is slated to travel as far north as Hollywood, likely winding through Mid-Wilshire and West Hollywood along the way. LA Clippers Arena
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704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
AERIAL
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704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
AERIAL
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704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
Walkability
A. Walgreens 230 N. La Brea Ave, Inglewood, CA 90301 1 MILE FROM SUBJECT PROPERTY
B. Vons 500 E. Manchester Blvd, Inglewood, CA 90301 0.7 MILES FROM SUBJECT PROPERTY
C. Inglewood Highschool 231 S. Grevillea Ave, Inglewood, CA 90301 0.6 MILES FROM SUBJECT PROPERTY
D. Centinela Hospital Medical Center 555 E. Hardy St, Inglewood, CA 90301 0.7 MILES FROM SUBJECT PROPERTY
E. CVS 4345 W. Century Blvd, Inglewood, CA 90304 1 MILE FROM SUBJECT PROPERTY
F. Payne Elementary School 215 W. 94th St, Inglewood, CA 90301 0.5 MILES FROM SUBJECT PROPERTY
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704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
WALKABILITY
01 WALGREENS
Walgreens is the 2nd largest pharmacy store chain in the U.S.
02 VONS
Vons has been around for 114 years and has more than 325 locations.
04 CENTINELA HOSPITAL MEDICAL CENTER
the hospital serves more than 140,000 patients a year.
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03 INGLEWOOD HIGHSCHOOL
This high school was awarded $148 million in planned renovations.
05 CVS
CVS is a healthcare and retail company with over 10,000 locations.
06 PAYNE ELEMENTARY SCHOOL
This elementary school is 0.5 miles away from the subject property.
704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
Points of INterest A. The Forum 3900 W. Manchester Blvd, Inglewood, CA 90305 1.2 MILES FROM SUBJECT PROPERTY
B. SoFi Stadium 1000 S. Prairie Ave, Inglewood, CA 90301 1.5 MILES FROM SUBJECT PROPERTYY
C. LAX 1 World Way, Los Angeles, CA 90045 2.8 MILES FROM SUBJECT PROPERTY
D. Hollywood Park Casino 3883 W. Century Blvd, Inglewood, CA 90303 1.8 MILES FROM SUBJECT PROPERTY
E. Venice Beach Venice Fishing Pier, Venice, CA 90292 7.7 MILES FROM SUBJECT PROPERTY
F. USC 3551 Trousdale Pkwy, Los Angeles, CA 90089 7.9 MILES FROM SUBJECT PROPERTY
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704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
Points of Interest
THE FORUM
SOFI STADIUM
LAX
HOLLYWOOD PARK CASINO
VENICE BEACH
USC
This indoor arena in Inglewood has the capacity of more than 17,000.
This is the go-to Casino with thousands of machines & card games.
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This multi-purpose stadium will be able to seat up to 100,000.
Known for its bohemian spirit, Venice is a buzzing beach.
LAX is the world’s fourth busiest and the US’ second busiest airport.
USC has 45,000 enrolled students while offering more than 80 majors.
704 S. FIR AVE, INGLEWOOD, CA 90301
LOCATION OVERVIEW
DEMOGRAPHICS
POPULATION
1-Mile
3-Mile
5-Mile
2025 Projection
46,839
280,976
789,158
2020 Estimate
46,335
277,453
780,349
2010 Census
45,127
267,427
758,048
Growth ‘20 - ‘25
1.09%
1.27%
1.13%
Growth ‘10 - ‘20
2.68%
3.75 %
2.94%
1-Mile
3-Mile
5-Mile
2025 Projection
14,950
95,947
267,635
2020 Estimate
14,764
94,748
264,474
2010 Census
14,254
91,418
256,163
Growth ‘20 - ‘25
1.26%
1.27%
1.20%
Growth ‘10 - ‘20
3.58%
3.64%
3.24%
Average Income
$50,571
$74,987
$78,324
Median Income
$41,183
$53,544
$53,562
HOUSEHOLDS
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704 S. FIR AVE, INGLEWOOD, CA 90301
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
FOR INQUIRIES
PLEASE CONTACT CONTACT
John katnik Senior Associate
(424) 325-2644
john.katnik@jamescapitaladvisors.com CA RE Lic. 02002695
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
James Capital Advisors, Inc.
www.jamescapitaladvisors.com
@jamescapitaladvisors