luxury two-on-one | 1501 missouri ave, oceanside , ca, 92054€¦ · luxury two-on-one income &...
TRANSCRIPT
Luxury Two-On-One | 1501 Missouri Ave, Oceanside , CA, 92054
OFFER
ING
MEM
OR
AND
UM
Luxury Two-On-OneCONTENTS
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
01 Executive Summary Investment Summary 5 Unit Mix Summary 6 Location Summary 7
02 Property Description Property Features 9 Aerial Map 10 Property Images 11
03 Financial Analysis Income & Expense Analysis 20 Cash Flow Analysis 21 APOD 1501 Missouri Ave 23
04 Demographics Demographics 25 Demographic Charts 27
Exclusively Marketed by:
Alex KohlAssociate858-735-2652Lic:[email protected]
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from South Coast Commercial Inc.and it should not be made available to any other person or entity without the written consent of South Coast Commercial Inc..
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to South CoastCommercial Inc.. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. South Coast Commercial Inc. has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property andimprovements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvementsthereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, South Coast Commercial Inc. has not verified, and will not verify, any of theinformation contained herein, nor has South Coast Commercial Inc. conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsiblefor their costs and expenses of investigating the subject property.
Luxury Two-On-One Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT SOUTH COAST COMMERCIAL INC. FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.
Luxury Two-O
n-One | Executive Sum
mary
Executive Summary
LUXU
RY
TW
O-O
N-O
NE
01
......
......
......
......
......
......
......
......
Investment Summary
Unit Mix Summary
Location Summary
Luxury Two-On-One Investment Summary | 05
OFFERING SUMMARYADDRESS 1501 Missouri Ave
Oceanside CA 92054COUNTY San DiegoMARKET OceansideBUILDING SF 3,400 SFLAND SF 7,488NUMBER OF UNITS 2YEAR BUILT 1925/2000OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARYOFFERING PRICE $1,200,000PRICE PSF $454.89PRICE PER UNIT $600,000OCCUPANCY 97.00 %
PROPOSED FINANCINGLOAN TYPE Fully AmortizedDOWN PAYMENT $300,000LOAN AMOUNT $900,000INTEREST RATE 4.25 %ANNUAL DEBT SERVICE $53,132LOAN TO VALUE 75 %AMORTIZATION PERIOD 30 Years
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 24,448 82,343 177,8872019 Median HH Income $51,084 $60,809 $67,4022019 Average HH Income $71,172 $85,655 $92,978
This 2000 construction luxurious 4 bedroom home sits on a 10,000 foot corner lot in coastal Oceanside. Spanish style home boasts an interior courtyard, high end upgrades, heated tile flooring throughout, recessed lighting, open floor plan, two car garage with seven total parking spots, large balcony, and much more. The main house was designed to be allergen free, with pressure treated lumber, no ducting, and designed to eliminate any materials for which mold could grow. A second two bedroom free-standing home built with redwood sits on the lot. Additional income or a family compound. A truly unique and beautiful home.
Do not walk on property or disturb tenants as they are unaware of a sale.
Luxury Two-On-One Unit Mix Summary | 06
Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly Income Market Rent Market Rent PSF Market Income
4 bd + 3 ba 1 2,300 $0.00 $3,400 $1.48 $3,4002 bd + 1 ba 1 1,100 $1,795 $1.63 $1,795 $1,850 $1.68 $1,850
Totals/Averages 2 1,700 $898 $0.82 $1,795 $2,625 $1.58 $5,250
Luxury Two-On-One Location Summary | 07
Oceanside is a coastal city in North County San Diego. It's known for palm-dotted Harbor Beach and nearby Oceanside Harbor, with its marina and shops. To the south, the long Oceanside Pier juts into the Pacific Ocean as the longest wooden foot-traffic pier on the west coast. In the last decade, Oceanside's downtown has transformed into a booming center of commerce. Lined with new 5 story condominium projects at the base of the Oceanside Pier, tourism has attracted a variety of Breweries, Restaurants and shops to the area.
Oceanside is bordered by Camp Pendleton Military base to the North, Vista to the East, Carlsbad to the South, and the Pacific Ocean to the West. Oceanside is the most affordable beach community in California, and is revered by developers as an emerging coastal location with untapped potential for growth. Top employers include Camp Pendleton Military, Tri-City Medical Center, and Mira Costa College. The vacancy rate in Oceanside is currently one of the lowest in the country at 2.6%.
Regional Map
Locator Map
Luxury Two-O
n-One | Property D
escription
Property Description
LUXU
RY
TW
O-O
N-O
NE
02
......
......
......
......
......
......
......
......
Property Features
Aerial Map
Parcel Map
Additional Maps
Property Images
Luxury Two-On-One Property Features | 09
PROPERTY FEATURESNUMBER OF UNITS 2BUILDING SF 3,400LAND SF 7,488YEAR BUILT 1925/2000# OF PARCELS 1TOPOGRAPHY FlatNUMBER OF STORIES 2NUMBER OF BUILDINGS 2
UTILITIESWATER OwnerTRASH OwnerGAS TenantELECTRIC TenantRUBS Tenant
CONSTRUCTIONFOUNDATION SlabFRAMING WoodEXTERIOR StuccoPARKING SURFACE ConcreteROOF Composite/SpanishLANDSCAPING Mature
Luxury Two-On-One Aerial Map | 10
Luxury Two-On-One Property Images | 11
Luxury Two-On-One Property Images | 12
Luxury Two-On-One Property Images | 13
Luxury Two-On-One Property Images | 14
Luxury Two-On-One Property Images | 15
Luxury Two-On-One Property Images | 16
Luxury Two-On-One Property Images | 17
Luxury Two-On-One Property Images | 18
Luxury Two-O
n-One | Financial A
nalysis
Financial Analysis
LUXU
RY
TW
O-O
N-O
NE
03
......
......
......
......
......
......
......
......
Income & Expense
Multiyear Cash Flow Projections
APOD 1501 Missouri Ave
Luxury Two-On-One Income & Expense Analysis | 20
INCOME
Less: Expenses $18,558
Net Operating Income ($18,558)
Principal Reduction $14,883
Total Return ($56,807)
EXPENSES CURRENT
Reserves $175 $350
Water & Sewer $540 $1,080
Landscaping $120 $240
Trash Removal $120 $240
Pest Control $48 $96
Maintenance $500 $1,000
Management (Off Site) $646 $1,292
Miscellaneous $100 $200
Insurance $250 $500
Taxes $6,780 $13,560
Total Operating Expense $9,279 $18,558
Annual Debt Service $26,566 $53,132
Expense / SF $7.03
Per Unit
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
Luxury Two-On-One Cash Flow Analysis | 21
CASH FLOWCalendar Year Year1 Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueOperating ExpensesReserves $350 $350 $361 $371 $382 $394 $406 $418 $430 $443Water & Sewer $1,080 $1,080 $1,112 $1,146 $1,180 $1,216 $1,252 $1,290 $1,328 $1,368Landscaping $240 $240 $240 $240 $240 $240 $240 $240 $240 $240Trash Removal $240 $240 $247 $255 $262 $270 $278 $287 $295 $304Pest Control $96 $96 $99 $102 $105 $108 $111 $115 $118 $122Maintenance $1,000 $1,000 $1,030 $1,061 $1,093 $1,126 $1,159 $1,194 $1,230 $1,267Management (Off Site) $1,292 $1,292 $1,331 $1,371 $1,412 $1,454 $1,498 $1,543 $1,589 $1,637Miscellaneous $200 $200 $206 $212 $219 $225 $232 $239 $246 $253Insurance $500 $500 $500 $500 $500 $500 $500 $500 $500 $500Taxes $13,560 $13,560 $13,560 $13,560 $13,560 $13,560 $13,560 $13,560 $13,560 $13,560Total Operating Expense $18,558 $18,558 $18,686 $18,817 $18,953 $19,092 $19,236 $19,384 $19,537 $19,694Net Operating Income ($18,558) ($18,558) ($18,686) ($18,817) ($18,953) ($19,092) ($19,236) ($19,384) ($19,537) ($19,694)Annual Debt Service $53,132 $53,132 $53,132 $53,132 $53,132 $53,132 $53,132 $53,132 $53,132 $53,132Cash Flow ($71,690) ($71,690) ($71,818) ($71,950) ($72,085) ($72,225) ($72,369) ($72,517) ($72,669) ($72,826)
Luxury Two-On-One Cash Flow Analysis | 22
Calendar Year Year1 Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t -23.90 % -23.90 % -23.94 % -23.98 % -24.03 % -24.07 % -24.12 % -24.17 % -24.22 % -24.28 %CAP Rate -1.55 % -1.55 % -1.56 % -1.57 % -1.58 % -1.59 % -1.60 % -1.62 % -1.63 % -1.64 %Debt Coverage Ratio -0.35 -0.35 -0.35 -0.35 -0.36 -0.36 -0.36 -0.36 -0.37 -0.37Loan to Value 75.17 % 73.89 % 72.53 % 71.09 % 69.59 % 68.01 % 66.35 % 65.03 % 63.20 % 61.30 %Price / SF $454.89 $454.89 $454.89 $454.89 $454.89 $454.89 $454.89 $454.89 $454.89 $454.89Price / Unit $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000Expense / SF $7.03 $7.03 $7.08 $7.13 $7.18 $7.23 $7.29 $7.34 $7.40 $7.46
# Units Zip2 1501 Missouri Ave 92054
Current Market Current Market55.7 19.0 0.2% 3.5%
Gross Sq. Ft. Parcel Size(Approx.) (Approx.) (Approx.)$454.89 2638 7,488
# Units Type Rent TotalRent Range Water & Sewer $1,080 Management (Off Site) $1,292
Landscaping $240 Miscellaneous $2001 4B/3b $0 $0 Ownr-Occ Trash Removal $240 Reserves $3501 2B/1b $1,795 $1,795 Pest Control $96 Insurance $500
$0 Maintenance $1,000 Taxes $13,560$0
Total Monthly Income $1,795
Total Annual Operating Expenses (estimated): $18,558
1 4B/3b $3,400 $3,400 Expenses Per: Unit $9,2791 2B/1b $1,850 $1,850 % of Actual GSI 86%
$0$0
Total Monthly Income $5,250Estimated Annual Operating Proforma Financing Summary
Actual MarketGross Scheduled Income $21,540 $63,000 Downpayment: $300,000Less: Vacancy Factor 3% $646 $1,890 25%Gross Operating Income $20,894 $61,110 Interest Rate: 4.250%Less: Expenses 86% $18,558 $18,558 Amortized over: 30 YearsNet Operating Income $2,335 $42,552 Proposed Loan Amount: $900,000
Less: 1st TD Payments ($53,130) ($53,130) Debt Coverage Ratio:Current: 0.04
Pre-Tax Cash Flow -$50,794 -$10,578 Market: 0.80Cash On Cash Return -16.9% -3.5%Principal Reduction $15,173 $15,173Total Potential Return (End of Year One) -12% 2%
Call Alex Kohl (858) 735-2652 [email protected]
Map Code
$1,200,000
APARTMENT INVESTMENT INFORMATION
Address CityOceanside
GRM CAP Rate$/UnitPrice
$/Square Foot
$600,000
Estimated Annual Operating Expenses
Yr. Built(Approx.)
1925/2000
advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
Income Detail
Estimated Market Rents
Estimated Actual Average Rents
The information contained herein has been obtained from sources believed reliable. While South Coast Commercial does not doubt its accuracy, we have not verified it and make no guarantee,
warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for
example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial and legal advisors. You and your
Comments
CASHFLOW
Luxury Two-On-One APOD 1501 Missouri Ave | 23
Luxury Two-O
n-One | D
emographics
Demographics
LUXU
RY
TW
O-O
N-O
NE
04
......
......
......
......
......
......
......
......
Demographic Details
Demographic Charts
Luxury Two-On-One Demographics | 25
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 25,349 77,681 157,097
2010 Population 22,872 76,620 164,267
2019 Population 24,448 82,343 177,887
2024 Population 25,499 85,576 184,789
2019 African American 1,007 3,557 7,689
2019 American Indian 300 904 1,633
2019 Asian 843 3,996 11,347
2019 Hispanic 13,130 30,702 63,461
2019 Other Race 6,520 12,917 26,943
2019 White 14,235 55,396 117,444
2019 Multiracial 1,351 4,846 11,094
2019-2024: Population: Growth Rate 4.25 % 3.85 % 3.80 %
2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 1,037 2,461 5,014
$15,000-$24,999 883 2,199 4,028
$25,000-$34,999 1,176 3,018 5,543
$35,000-$49,999 1,360 4,185 8,105
$50,000-$74,999 1,695 6,045 12,283
$75,000-$99,999 1,091 3,965 8,610
$100,000-$149,999 1,090 4,400 10,520
$150,000-$199,999 393 1,866 5,094
$200,000 or greater 407 2,027 5,087
Median HH Income $51,084 $60,809 $67,402
Average HH Income $71,172 $85,655 $92,978
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 9,416 29,916 59,995
2010 Total Households 8,519 28,092 59,600
2019 Total Households 9,131 30,167 64,283
2024 Total Households 9,525 31,379 66,727
2019 Average Household Size 2.64 2.53 2.64
2000 Owner Occupied Housing 2,695 11,128 28,759
2000 Renter Occupied Housing 5,944 16,422 27,366
2019 Owner Occupied Housing 2,768 11,523 31,473
2019 Renter Occupied Housing 6,364 18,644 32,810
2019 Vacant Housing 1,146 3,663 5,438
2019 Total Housing 10,277 33,830 69,721
2024 Owner Occupied Housing 2,954 12,133 33,096
2024 Renter Occupied Housing 6,571 19,246 33,631
2024 Vacant Housing 1,153 3,709 5,454
2024 Total Housing 10,678 35,088 72,181
2019-2024: Households: Growth Rate 4.25 % 3.95 % 3.75 %
Source: esri
Luxury Two-On-One Demographics | 26
2019 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2019 Population Age 30-34 2,217 6,687 14,261
2019 Population Age 35-39 1,818 5,585 12,571
2019 Population Age 40-44 1,536 4,416 10,232
2019 Population Age 45-49 1,403 4,127 9,653
2019 Population Age 50-54 1,352 4,078 9,404
2019 Population Age 55-59 1,359 4,311 10,085
2019 Population Age 60-64 1,249 4,140 9,404
2019 Population Age 65-69 975 3,474 7,964
2019 Population Age 70-74 651 2,632 6,188
2019 Population Age 75-79 419 1,862 4,286
2019 Population Age 80-84 293 1,321 3,054
2019 Population Age 85+ 298 1,766 4,041
2019 Population Age 18+ 18,638 64,739 138,878
2019 Median Age 33 32 34
2019 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $52,485 $59,356 $63,511
Average Household Income 25-34 $72,262 $79,981 $85,333
Median Household Income 35-44 $57,956 $73,415 $82,672
Average Household Income 35-44 $80,877 $97,013 $106,145
Median Household Income 45-54 $60,934 $80,113 $91,295
Average Household Income 45-54 $87,387 $107,932 $118,142
Median Household Income 55-64 $55,772 $71,785 $80,485
Average Household Income 55-64 $73,815 $98,146 $107,262
Median Household Income 65-74 $45,709 $57,206 $61,524
Average Household Income 65-74 $62,942 $80,482 $85,856
Average Household Income 75+ $41,701 $61,659 $60,215
2024 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2024 Population Age 30-34 2,290 6,790 14,847
2024 Population Age 35-39 2,002 6,013 13,717
2024 Population Age 40-44 1,751 5,165 12,057
2024 Population Age 45-49 1,468 4,230 9,869
2024 Population Age 50-54 1,350 4,053 9,444
2024 Population Age 55-59 1,245 3,917 9,095
2024 Population Age 60-64 1,273 4,102 9,556
2024 Population Age 65-69 1,145 3,862 8,797
2024 Population Age 70-74 829 3,180 7,347
2024 Population Age 75-79 544 2,438 5,693
2024 Population Age 80-84 314 1,566 3,604
2024 Population Age 85+ 291 1,845 4,225
2024 Population Age 18+ 19,536 67,380 144,716
2024 Median Age 34 33 35
2024 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $62,933 $71,342 $77,059
Average Household Income 25-34 $87,391 $96,069 $102,746
Median Household Income 35-44 $72,943 $86,828 $98,242
Average Household Income 35-44 $96,439 $114,997 $124,991
Median Household Income 45-54 $74,753 $97,765 $106,759
Average Household Income 45-54 $105,871 $128,998 $138,713
Median Household Income 55-64 $64,639 $83,891 $93,207
Average Household Income 55-64 $89,613 $116,944 $126,286
Median Household Income 65-74 $54,939 $67,028 $73,207
Average Household Income 65-74 $77,591 $98,349 $104,660
Average Household Income 75+ $51,200 $75,656 $73,752
Luxury Two-On-One Demographic Charts | 27
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Population by Race
Luxury Two-On-One Demographic Charts | 28
2019 Household Occupancy - 1 Mile Radius
Average Income Median Income
2019 Household Income Average and Median
Luxury Two-On-One
powered by CREOP
Exclusively Marketed by:
Alex KohlAssociate858-735-2652Lic:[email protected]