Offering Memorandum
11 Ocean Avenue, Los Angeles, CA
FOR SALE | MIXED USE COMMERCIAL
(FICTIONAL - FOR DEMO ONLY)
11 Ocean Ave, Los Angeles, CA
Property Highlights
+ Ideally Located in the heart of Los Angeles
+ Mixed used commercial multi-family 11 unit, All 3 BDR + 2 BATH
+ All rents collected for April and May
+ 100% Occupied
+ GRM 8.92 (current) 8.08 (pro forma)
+ CAP Rate 4.88% (current) and 5% (pro forma)
+ Great cash flow 10.28% (current) and 13.17% (pro forma)
(DEMO ONLY)
11 Ocean Ave, Los Angeles, CA
Introducing the Perfect Investment Opportunity
Welcome to our mixed-use commercial multi-family property, featuring 11 spacious units, each boasting 3 bedrooms and 2 bathrooms. Located in the vibrant heart of Los Angeles, CA close proximity to galleries, shopping destinations, and a thriving community, this property is poised to deliver both exceptional living spaces and attractive investment potential.In addition to the impressive residential units, this property presents a unique advantage with 4 commercial units that are currently fully leased and cash-flowing. This diversification of income streams enhances the investment value and opens up additional opportunities for revenue generation.Parking will never be an issue, as this property boasts a generous on-site parking capacity of 33 covered spaces, dedicated to residents. Convenience and peace of mind for residents and visitors are prioritized, making this property even more enticing.
(DEMO ONLY)
11 Ocean Ave, Los Angeles, CA
Sale Overview at
Market Rents
SALE PRICE: $12,284,000
NUMBER OF UNITS: 11 Residential + 4 Commercial
CAP RATE: 4.88%
NET OPERATING INCOME (NOI): $300,084
GRM: 8.92
BUILDING SIZE: 15,548 SF
YEAR BUILT: 1986
(DEMO ONLY)
Financial overview
Investment Overview
| Investment Overview | Current | Pro Forma |
|---|---|---|
| Price | $12,284,000 | $12,923,000 |
| Price per unit | $811,363 | $855,363 |
| GRM | 8.92 | 8.08 |
| Cap Rate | 4.88 % | 5 % |
| Cash-on-Cash Return | 10.28% | 13.17 % |
| Debt Coverage Ratio | $187,469 | $197,743 |
Financial overview
Operating Data
| Operating Data | Current | Pro Forma |
|---|---|---|
| Gross Scheduled Income | $856,800 | $908,400 |
| Other Income - Parking | $5000 | $5000 |
| Total Scheduled Income | $861,800 | $913,400 |
| Vacancy Cost | $8,961 | $13,860 |
| Gross Income | $852,839 | $899,540 |
| Operating Expenses | $253,386 | $253,386 |
| Net Operating Income | $599,453 | $646,154 |
Rent Roll
| UNIT # | UNIT TYPE | RENT | MARKET RENT |
|---|---|---|---|
| Unit 1 | 3+2 | $3,200 | $3,500 |
| Unit 2 | 3+2 | $3,300 | $3,500 |
| Unit 3 | 3+2 | $3,500 | $3,500 |
| Unit 4 | 3+2 | $3,300 | $3,500 |
| Unit 5 | 3+2 | $3,300 | $3,500 |
| Unit 6 | 3+2 | $3,100 | $3,500 |
| Unit 7 | 3+2 | $2,900 | $3,500 |
| Unit 8 | 3+2 | $3,500 | $3,500 |
| Unit 9 | 3+2 | $3,500 | $3,500 |
| Unit 10 | 3+2 | $2,900 | $3,500 |
| Unit 11 | 3+2 | $3,100 | $3,500 |
| Unit C1 | Commercial | $6,800 | $6,800 |
| Unit C2 | Commercial | $10,000 | $10,000 |
| Unit C3 | Commercial | $10,000 | $10,000 |
| Unit C4 | Commercial | $8,500 | $10,000 |
| Total | All | $71,400 | $75,700 |
Property Name:
11 Ocean Ave, Los Angeles, CA
Physical Description
APN: 6014-001-038
Lot Size: 17,332
Building Size: 15,548 SF
Zoning: *
Parking Spaces: 33 residential + 45 commercial
Construction
Year Built: 1986
Number of Stories: 4
Parking Type: Covered
Number of Units: 11 Residential + 4 Commercial
(DEMO ONLY)
Olivia Hamilton is an award-winning real estate agent with an exceptional track record, specializing in the exclusive neighborhoods of Malibu, Pacific Palisades, and West Los Angeles, CA. With an impressive career spanning over 26 years, Olivia has established herself as one of the top agents in the competitive Los Angeles real estate market. Her in-depth knowledge of the local market, coupled with her exceptional negotiation skills, has earned her a reputation for consistently delivering outstanding results for her clients.
She understands that buying or selling a home is one of the most significant financial decisions in a person's life, and she approaches each transaction with the utmost care and attention to detail. Contact Olivia today for a seamless and rewarding real estate experience.
Olivia Hamilton
Should you have any questions, please contact us
(424) 111-3333
[email protected]
CA DRE #02020202
Coastal Real Estate Co.
333 S. Beverly Drive, Beverly Hills, CA 90212
(DEMO ONLY)
© Olivia Hamilton. Coastal Real Estate Co. All right reserved.