pro forma income & expenses...percent of egi: 34.99% 33.40% 29.23% net operating income (noi)...
TRANSCRIPT
UNIT MIX & RENT SCHEDULE
45 1 / 1.0 667 $1,175 $52,875 $52,875 $1,250 $56,250
83 2 / 1.0 838 $1,350 $112,050 $112,050 $1,430 $118,690
128 99,569 $164,925 $164,925 $174,940
INCOMEScheduled Gross Rent $1,979,100 $1,979,100 $2,099,280
Loss-to-Lease 13.5% ($266,189) 13.5% ($266,189) 3.5% ($73,475)
Vacancy / Bad Debt 10.0% ($197,910) 6.0% ($118,746) 6.0% ($125,957)
Effective Rental Income $1,515,001 $1,594,165 $1,899,848
Laundry Revenue Collected $0 $0 $13,786
Other Revenue Collected $4,123 $4,246 $13,580
Total Other Revenue $4,123 $4,246 $27,365
Effective Gross Income (EGI) $1,519,124 $1,598,411 $1,927,214
EXPENSES Per Unit Per Unit Per Unit
Administrative $150 $19,200 $150 $19,200 $156 $19,976
Professional Fees $50 $6,400 $50 $6,400 $52 $6,659
Marketing & Advertising $50 $6,400 $50 $6,400 $52 $6,659
Payroll Expenses $1,200 $153,600 $1,200 $153,600 $1,248 $159,805
Utilities $1,022 $130,847 $1,022 $130,847 $1,064 $136,133
Insurance $250 $32,000 $250 $32,000 $260 $33,293
Management Fees 3.00% $356 $45,574 $375 $47,952 $452 $57,816
Contract Services $248 $31,763 $248 $31,763 $258 $33,046Repairs & Maintenance $250 $32,000 $250 $32,000 $260 $33,293
Real Estate Taxes $26 $3,315 $26 $3,315 $26 $3,315
Turnover Costs $250 $32,000 $250 $32,000 $260 $33,293
Replacement Reserves $300 $38,400 $300 $38,400 $312 $39,951
Total Expenses $531,498 $533,877 $563,238
Per Unit: $4,152 $4,171 $4,400Per Square Foot: $5.34 $5.36 $5.66
Percent of EGI: 34.99% 33.40% 29.23%
Net Operating Income (NOI) $987,626 $1,064,535 $1,363,976
Floor PlanUnits
Asking RentMonthly
Pro Forma(Year-2)
CurrentMonthly
Asking Rent
Asking Rent
(Year-2)
Current Asking
Rent
Est Feb '20Asking Rent(Pro Forma)
TMG Pro Forma
(Year-2)
EstimatedSquare Feet
CurrentMonthly
Asking Rent
Est Feb '20Stabilized
(Pro Forma)
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Income and Expenses are estimates. Buyer must verify the information and bears all risk for any inaccuracies.
Listings.Mogharebi.com/SunValley
IMPORTANT INFORMATION & DISCLAIMER:
NOTES1. Estimated Feb ‘20 /Pro-Forma - comprises asking rent, loss-to-lease based on the August 2019 rent roll effective collections increased by 2.5% to estimate income in Feburary 2020, estimated in-place vacancy, 2018 T12 other income inflated at 3%, and adjusted operating expenses.2. Stabilized / Pro Forma - comprises asking rent, loss-to-lease based on the August 2019 rent roll effective collections increased by 2.5% to estimate income in Feburary 2020, stablized occupancy, T12 other income inflated at 3%, and adjusted operating expenses.3. TMG Pro Forma (Year-2) reflects 3% annual revenue growth, market vacancy, reduced loss-to-lease, and adjusted expenses increased at 2% annually.4. There are 12 units that have been taken offline by a fire, the insurance company is paying the lost rent on those units.5. Historic, Current and Pro Forma Expenses and Net Operating Income is exclusive of ad valorem property taxes. The current ad valorem rate is 1.12950% with direct assessments of $3,314.80.
128 UNITS IN SACRAMENTO, CA | UNPRICED4719 50TH AVENUE, SACRAMENTO, CA 95823LISTINGS.MOGHAREBI.COM/SUNVALLEY a
Mog
hare
bi -
O
zen
Com
pany
PRO FORMA INCOME & EXPENSES
OTTO OZENExecutive Vice President
[email protected] BRE #01030086
ROBIN C. KANE Senior Vice President
O: 559.761.0020 [email protected] BRE License #00583537
NAZLI SANTANASenior Investment Advisor
CA BRE #01015922
BRENDAN KANE
Vice PresidentO: 559.892.0036
[email protected] CA BRE License #01976828
Listings.Mogharebi.com/SunValley
ACE-BART CONNECTION WITH EXTENSION TO SACRAMENTO The Altamont Corridor
Express (ACE) is planning an extension from Stockton to Sacramento. Concomitantly, the Tri-Valley-San Joaquin Valley Regional Rail
Authority has been formed and funded by the governor to connect Stockton ACE to BART. The enhanced rail network will reduce the
commute into the Bay Area, generating significant demand throughout the Sacramento Valley.
HIGH INFLOW OF RESIDENTS Sacramento leads the nation in net inflow of residents and has the lowest supply of
all metro markets as both a percentage of overall inventory and pure supply numbers.
DESIRABLE UNIT MIX Sun Valley Apartments offers a highly desirable unit mix comprised of 2 bed / 1.0 baths (65%)
and 1 bed / 1.0 baths (35%). The units feature spacious living rooms, wood-inspired flooring, and walk-in closets.
CLOSE PROXIMITY TO SCHOOLS Sun Valley Apartments is less than a mile from Nicholas Elementary School,
Pacific Elementary School, and Fern Bacon Middle School.
COMMUTABLE TO OVER 1.4 MILLION JOBS Within a 15-, 30-, and 60-minute commute of Sun Valley
Apartments there are approximately 315,000, 750,000, and 1.4 million jobs, respectively. Easy access to jobs provides an increasingly
robust tenant base
NEAR TO MULTIPLE TOP EMPLOYERS Sun Valley Apartments is within a 15-minute drive to multiple top
employers in Sacramento. State of California, the largest employer in Sacramento, employs over 75,000 people. UC Davis Health
Systems and Sacramento County, the second and third largest employers in Sacramento, employs over 25,000 people.
ATTRACTIVE RENT VS BUY With a median home price in Sacramento of $350,300, the average down payment
required is over $70,000, which is more than what over 60% of households can afford. The average monthly cost of the average home
is over $2,600 per month providing a significant upside for apartment rents.
The Mogharebi Group is pleased to announce that it has been retained as the exclusive listing agent for
the sale of Sun Valley Apartments, a 128-unit apartment community located in Sacramento, California.
This property provides the right investor an opportunity to acquire a value-add asset in one of the nation’s
hottest submarkets.
INVESTMENT OPPORTUNITY
FLOOR PLANS
PROPERTY DESCRIPTIONUNITS 128
RENTABLE SF 99,569
YEAR BUILT 1970
APN 039-0191-010
LOT SIZE 5.63 acres
DENSITY 22.7 units per acre
PARKING SURFACE Asphalt
PARKING 176 surface spaces
PARKING RATIO 1.38
BUILDINGS 8 residential & 2 common
STORIES 2
FOUNDATION Slab-on Concrete
FRAMING Wood
EXTERIOR Stucco & Wood
ROOF Asphalt Shingle
ELECTRICITY Tenant - Individually Metered
GAS Tenant - Individually Metered
WATER Landlord - Master Metered
SEWER Landlord - Master Metered
TRASH Landlord - Master Metered
HVAC Through-the-Wall
WATER HEATER Boilers (3)
FIRE PROTECTIONSmoke Detector /
Sprinklers
PLUMBING Copper
Unit Amenities Common Area Amenities• Granite Inspired Laminate
Countertops• Gas Range / Oven• Hood-fan• Disposal• Dishwasher• Refrigerator • Plush Carpet in Bedroom and
Living Room• Wood Flooring in Kitchen and
Tile in the Bathroom• Air-Conditioning• Gas Heating• Pre-Wired for Cable
• Swimming Pool and Spa• Outdoor Picnic Area with BBQ• Garden • Courtyard• Walkways• Laundry Room (3)• Controlled Access Community• Monument Signage• Leasing Office
1 Bedroom / 1.0 Bath667 Square Feet
2 Bedroom / 1.0 Bath838 Square Feet
Listings.Mogharebi.com/SunValley
ACE-BART CONNECTION WITH EXTENSION TO SACRAMENTO The Altamont Corridor
Express (ACE) is planning an extension from Stockton to Sacramento. Concomitantly, the Tri-Valley-San Joaquin Valley Regional Rail
Authority has been formed and funded by the governor to connect Stockton ACE to BART. The enhanced rail network will reduce the
commute into the Bay Area, generating significant demand throughout the Sacramento Valley.
HIGH INFLOW OF RESIDENTS Sacramento leads the nation in net inflow of residents and has the lowest supply of
all metro markets as both a percentage of overall inventory and pure supply numbers.
DESIRABLE UNIT MIX Sun Valley Apartments offers a highly desirable unit mix comprised of 2 bed / 1.0 baths (65%)
and 1 bed / 1.0 baths (35%). The units feature spacious living rooms, wood-inspired flooring, and walk-in closets.
CLOSE PROXIMITY TO SCHOOLS Sun Valley Apartments is less than a mile from Nicholas Elementary School,
Pacific Elementary School, and Fern Bacon Middle School.
COMMUTABLE TO OVER 1.4 MILLION JOBS Within a 15-, 30-, and 60-minute commute of Sun Valley
Apartments there are approximately 315,000, 750,000, and 1.4 million jobs, respectively. Easy access to jobs provides an increasingly
robust tenant base
NEAR TO MULTIPLE TOP EMPLOYERS Sun Valley Apartments is within a 15-minute drive to multiple top
employers in Sacramento. State of California, the largest employer in Sacramento, employs over 75,000 people. UC Davis Health
Systems and Sacramento County, the second and third largest employers in Sacramento, employs over 25,000 people.
ATTRACTIVE RENT VS BUY With a median home price in Sacramento of $350,300, the average down payment
required is over $70,000, which is more than what over 60% of households can afford. The average monthly cost of the average home
is over $2,600 per month providing a significant upside for apartment rents.
The Mogharebi Group is pleased to announce that it has been retained as the exclusive listing agent for
the sale of Sun Valley Apartments, a 128-unit apartment community located in Sacramento, California.
This property provides the right investor an opportunity to acquire a value-add asset in one of the nation’s
hottest submarkets.
INVESTMENT OPPORTUNITY
FLOOR PLANS
PROPERTY DESCRIPTIONUNITS 128
RENTABLE SF 99,569
YEAR BUILT 1970
APN 039-0191-010
LOT SIZE 5.63 acres
DENSITY 22.7 units per acre
PARKING SURFACE Asphalt
PARKING 176 surface spaces
PARKING RATIO 1.38
BUILDINGS 8 residential & 2 common
STORIES 2
FOUNDATION Slab-on Concrete
FRAMING Wood
EXTERIOR Stucco & Wood
ROOF Asphalt Shingle
ELECTRICITY Tenant - Individually Metered
GAS Tenant - Individually Metered
WATER Landlord - Master Metered
SEWER Landlord - Master Metered
TRASH Landlord - Master Metered
HVAC Through-the-Wall
WATER HEATER Boilers (3)
FIRE PROTECTIONSmoke Detector /
Sprinklers
PLUMBING Copper
Unit Amenities Common Area Amenities• Granite Inspired Laminate
Countertops• Gas Range / Oven• Hood-fan• Disposal• Dishwasher• Refrigerator • Plush Carpet in Bedroom and
Living Room• Wood Flooring in Kitchen and
Tile in the Bathroom• Air-Conditioning• Gas Heating• Pre-Wired for Cable
• Swimming Pool and Spa• Outdoor Picnic Area with BBQ• Garden • Courtyard• Walkways• Laundry Room (3)• Controlled Access Community• Monument Signage• Leasing Office
1 Bedroom / 1.0 Bath667 Square Feet
2 Bedroom / 1.0 Bath838 Square Feet
UNIT MIX & RENT SCHEDULE
45 1 / 1.0 667 $1,175 $52,875 $52,875 $1,250 $56,250
83 2 / 1.0 838 $1,350 $112,050 $112,050 $1,430 $118,690
128 99,569 $164,925 $164,925 $174,940
INCOMEScheduled Gross Rent $1,979,100 $1,979,100 $2,099,280
Loss-to-Lease 13.5% ($266,189) 13.5% ($266,189) 3.5% ($73,475)
Vacancy / Bad Debt 10.0% ($197,910) 6.0% ($118,746) 6.0% ($125,957)
Effective Rental Income $1,515,001 $1,594,165 $1,899,848
Laundry Revenue Collected $0 $0 $13,786
Other Revenue Collected $4,123 $4,246 $13,580
Total Other Revenue $4,123 $4,246 $27,365
Effective Gross Income (EGI) $1,519,124 $1,598,411 $1,927,214
EXPENSES Per Unit Per Unit Per Unit
Administrative $150 $19,200 $150 $19,200 $156 $19,976
Professional Fees $50 $6,400 $50 $6,400 $52 $6,659
Marketing & Advertising $50 $6,400 $50 $6,400 $52 $6,659
Payroll Expenses $1,200 $153,600 $1,200 $153,600 $1,248 $159,805
Utilities $1,022 $130,847 $1,022 $130,847 $1,064 $136,133
Insurance $250 $32,000 $250 $32,000 $260 $33,293
Management Fees 3.00% $356 $45,574 $375 $47,952 $452 $57,816
Contract Services $248 $31,763 $248 $31,763 $258 $33,046Repairs & Maintenance $250 $32,000 $250 $32,000 $260 $33,293
Real Estate Taxes $26 $3,315 $26 $3,315 $26 $3,315
Turnover Costs $250 $32,000 $250 $32,000 $260 $33,293
Replacement Reserves $300 $38,400 $300 $38,400 $312 $39,951
Total Expenses $531,498 $533,877 $563,238
Per Unit: $4,152 $4,171 $4,400Per Square Foot: $5.34 $5.36 $5.66
Percent of EGI: 34.99% 33.40% 29.23%
Net Operating Income (NOI) $987,626 $1,064,535 $1,363,976
Floor PlanUnits
Asking RentMonthly
Pro Forma(Year-2)
CurrentMonthly
Asking Rent
Asking Rent
(Year-2)
Current Asking
Rent
Est Feb '20Asking Rent(Pro Forma)
TMG Pro Forma
(Year-2)
EstimatedSquare Feet
CurrentMonthly
Asking Rent
Est Feb '20Stabilized
(Pro Forma)
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Income and Expenses are estimates. Buyer must verify the information and bears all risk for any inaccuracies.
Listings.Mogharebi.com/SunValley
IMPORTANT INFORMATION & DISCLAIMER:
NOTES1. Estimated Feb ‘20 /Pro-Forma - comprises asking rent, loss-to-lease based on the August 2019 rent roll effective collections increased by 2.5% to estimate income in Feburary 2020, estimated in-place vacancy, 2018 T12 other income inflated at 3%, and adjusted operating expenses.2. Stabilized / Pro Forma - comprises asking rent, loss-to-lease based on the August 2019 rent roll effective collections increased by 2.5% to estimate income in Feburary 2020, stablized occupancy, T12 other income inflated at 3%, and adjusted operating expenses.3. TMG Pro Forma (Year-2) reflects 3% annual revenue growth, market vacancy, reduced loss-to-lease, and adjusted expenses increased at 2% annually.4. There are 12 units that have been taken offline by a fire, the insurance company is paying the lost rent on those units.5. Historic, Current and Pro Forma Expenses and Net Operating Income is exclusive of ad valorem property taxes. The current ad valorem rate is 1.12950% with direct assessments of $3,314.80.
128 UNITS IN SACRAMENTO, CA | UNPRICED4719 50TH AVENUE, SACRAMENTO, CA 95823LISTINGS.MOGHAREBI.COM/SUNVALLEY a
Mog
hare
bi -
O
zen
Com
pany
PRO FORMA INCOME & EXPENSES
OTTO OZENExecutive Vice President
[email protected] BRE #01030086
ROBIN C. KANE Senior Vice President
O: 559.761.0020 [email protected] BRE License #00583537
NAZLI SANTANASenior Investment Advisor
CA BRE #01015922
BRENDAN KANE
Vice PresidentO: 559.892.0036
[email protected] CA BRE License #01976828