TRIPLEX ON MANHATTAN BEACH BLVD IN REDONDO BEACH€¦ · Triplex on Manhattan Beach Blvd in Redondo Beach Exclusively Marketed By Table of Contents LYON STAHL INVESTMENT REAL ESTATE

Johnnie Stieglar | [email protected] TRIPLEX ON MANHATTAN BEACH BLVD IN REDONDO BEACH

2022 Manhattan Beach BlvdRedondo Beach, CA 90278

Triplex on Manhattan Beach Blvd in Redondo Beach

ExclusivelyMarketed By

Tableof Contents

LYON STAHL INVESTMENT REAL ESTATELyon Stahl

[email protected]

Johnnie Stiegler

[email protected]

Lic. 01981597

INVESTMENT SUMMARYInvestment Overview

AREA OVERVIEWLocal Map

City OverviewCounty OverviewAerial Map

PROPERTY DESCRIPTIONProperty Details

3D Map

FINANCIALSOffering Summary

Net Income Statement

Unit Mix


Investment Summary


The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.

Investment SummaryPrice $1,295,000Cap Rate 3.37%NOI $43,704.00GRM 18.95Units 3Occupancy 100.00%Building Size 1,832 SFPrice per Square Foot $706.88Land Area 5,564 Sq. Feet

Investment HighlightsTriplex: (2) 2-Bed/1-Bath & (1) 1-Bed/1-Bath units●

1,832 SqFt building situated on large 5,564 SqFt lot●

All 3 units have been recently upgraded, have washer and dryer hookups●

and attached garagesLocated in desirable neighborhood in North Redondo Beach●

Investment DescriptionLyon Stahl is pleased to present this North Redondo Triplex on ManhattanBeach Blvd. This 1,832 SqFt property has (2) 2-Bed/1-Bath and (1)1-Bed/1-Bath units situated on a large 5,564 SqFt lot. All 3 units have beenrecently upgraded, have new double paned windows, have washer and dryerhook ups and 3 attached garages. The back unit has its own private fencedyard and the front unit has a fireplace. There is a large avocado tree andfenced common yard. This property is located in a desirable neighborhood inNorth Redondo Beach across the street from Northrup. Possible 3 newtownhome site- plans available.


Area Overview



Local Map


Area Overview



Area Overview

County OverviewThe most heavily populated county in the country is Los Angeles County withapproximately 9.9 million people, including about 1 million that live inunincorporated areas of the county. The metropolis - formed by the sixneighboring counties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 million residents. LosAngeles County is home to one of the most educated labor pools in thecountry and offers a labor force of more than 4.7 million, of which more than1.5 million are college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eight states.According to the United States Conference of Mayors, Los Angeles Countyboasts a GDP among the twenty largest in the world. Los Angeles County’s

continued economic growth, in contrast to other areas of the state and nation,is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast of the California,and covers 4,061 square miles, including the San Clemente and SantaCatalina islands. The County is comprised of approximately 88 vibrant anddiverse cities hosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has a Gross DomesticProduct (GDP) of approximately $446 billion - placing it among the top 20economies in the world. The combined GDP of Los Angeles and its fivesurrounding neighboring counties places it in the top 10. California is generallyconsidered to be in the top five.

If Los Angeles County were its own nation, its economy would be the 18thlargest in the world. It is home to more than 244,000 businesses, with moreminority and women owned businesses than any other in the nation and is thenation’s top international trade center and manufacturing center. Los Angelesis recognized worldwide as a leader in entertainment, health sciences,business services, aerospace and international trade. Because the LosAngeles area is so large and diverse, it has something to offer to everyone.While Hollywood and the Los Angeles beach culture are part of our collectiveimage of Los Angeles, the city also has more museums than any other cityand some of the best hotels in the world are located in Los Angeles.

Over the years, Los Angeles County has developed a diverse economic base,supported by a number of Fortune 500 companies with headquarters in thearea, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTVGroup, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel,and Avery Dennison. Key factors positively impacting the region’s economicposition include increased local media production by the entertainmentindustry and a continuing expansion of import flows. Moreover, growth inaerospace, homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles' well educatedlabor pool, many universities, wonderful climate, and world class infrastructurewill enable Greater Los Angeles to continue to be a world leader in economicand cultural significance.

County HighlightsLos Angeles County is the world’s 18th largest economy.●

Los Angeles part of the "Tech Coast" and is regarded as the of the main●

entrepreneurial regions of the world. It has approximately 200,000 smallbusinesses, which is twice as many small businesses as can be found in anyother region of the United States.If Los Angeles' five county area were a state, it would be the fourth largest in●

the United States.


Area Overview



Aerial Map


Property Description



Property DetailsAddress 2022 Manhattan Beach Blvd Redondo Beach, CA 90278 Square Footage 1,832 SFLand Area 5,564 Sq. FeetYear Built 1940Assessors Parcel Number 4150003052

SiteZoning RBRMDNumber of Buildings 1Number of Stories 1Parking 3


Property Description




Financials



FinancialOffering Summary

Price $1,295,000Building Size 1,832 SFLand Area 5,564 Sq. FeetNumber of Units 3Number of Stories 1Year Built 1940Parking 3Occupancy 100.00%

Price per Unit $431,666.67Price per Square Foot $706.88Current CAP Rate 3.37%Pro Forma Cap Rate 4.10%Current GRM 18.95Pro Forma GRM 16.60NOI $43,704Pro Forma NOI $53,075


Financials



Net Income Statement

Current AnnualIncome

Proforma AnnualIncome

REVENUESGross Potential Rent $68,340 $78,000Less: Vacancy Rate 2,050 2,340

Effective Gross Income $66,289 $75,660

OPERATING EXPENSESReal Estate Taxes 16,188 16,188Insurance 1,947 1,947Utilities 1,800 1,800Repairs 2,050 2,050Landscaping 600 600

TOTAL EXPENSES $22,585 $22,585

NET OPERATING INCOME $43,704 $53,075

Debt Service $51,152 $51,152NET CASH FLOW AFTER DEBT SERVICE $-7,448 $1,923

Principal Reduction $16,313 $16,313TOTAL RETURN 2.28% 4.69%Expenses Per SF $12.33 $12.33% of EGR 34.07% 29.85%


Financials



Unit Mix

Unit Info Occupancy Square Footage Current Monthly Rent Pro Forma Monthly Rent

Numberof Units

Unit Type Occ Vac %OccAverageUnit SF

Total UnitSF

AVG Low High TotalAVGPSF

AVG TotalAVGPSF

VacancyLoss

1 1BR 1 BTH 1 0 100.00% 0 $1,600 $0 $0 $1,600 $0.00 $1,800 $1,800 $0.00 $0

1 2BR 1 BTH 1 0 100.00% 0 $2,195 $0 $0 $2,195 $0.00 $2,300 $2,300 $0.00 $0

1 2BR 1 BTH 1 0 100.00% 0 $1,900 $0 $0 $1,900 $0.00 $2,400 $2,400 $0.00 $0

3 TOTALS 3 0 100.00% 0 SF $5,695 $0.00 $6,500 $0.00 $0

CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should notbe made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, 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 a preliminary level of interest in the subject property (“Property”). The information in this Memorandumhas been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limitedto the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmentalrequirements, 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 orabsence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant or any tenant’s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all- inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information andan opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, marketconditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough duediligence investigation. Interested parties are expected to review all information of whatever 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 offers to purchase the Property, and/or to terminate discussions at any time with or without notice.The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’sobligations therein have been satisfied or waived.

Exclusively Marketed By:

Lyon Stahl Investment Real Estate

Lyon Stahl Johnnie Stiegler

310.425.9838 3104472213

[email protected] [email protected]

Johnnie [email protected]

Documents

TRIPLEX ON MANHATTAN BEACH BLVD IN REDONDO BEACH€¦ · Triplex on Manhattan Beach Blvd in Redondo Beach Exclusively Marketed By Table of Contents LYON STAHL INVESTMENT REAL ESTATE