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8.4% Market Rent Cap Rate 
1114 W 18th St
Los Angeles, California 90015
County: Los Angeles
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| Type: | Multifamily
Garden/Low-Rise |
| No. Units: | 10 |
| Building Size: | 7,176 SF |
| Lot Size: | 9,017 SF |
| Occupancy: | 100.00% |
| Price: | $1,295,000 |
| Price/Unit: | $129,500 |
| GRM: | 8.92 |
| Cap Rate: | 8.40% |
| Year Built: | 1965 |
| Date Last Verified: | 1/7/2009 |
| Property ID: | 15734483 |
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Property Description:
Hart Commercial Real Estate is proud to announce the sale of this newly renovated 10 unit apartment complex. Conveniently located just three-quarters of a mile west of Staples Center and and the new LA Live, and one mile north of the University of Southern California, this complex is easily accessible from both the 10 and 110 freeways.
Built in 1965, this complex has an excellent unit mix of six (6) 1-bedroom units, three (3) 2-bedroom units, and one (1) 3-bedroom unit. Each of these spacious units is separately metered for gas and electricity
and also has their own reserved parking space.
Among the many recent improvements to the property include new ceramic floor tile, new interior paint, and new free standing gas stoves. These turn-key units are ready for a new owner to step-in and reap the rewards of having a well located and maintained asset with tremendous rental upside.
SEE ATTACHED PROPERTY BROCHURE FOR DETAILS.
Location Description:
Less than 3/4 of a mile away from the property is the one-of-a-kind entertainment campus, LA Live. With the first phase completed in late 2007, LA Live will provide Los Angeles' residents, commuters, guests and tourists with a world-class sports and entertainment destination.
Located in the heart of the entertainment capital of the world, the 4 million square-foot LA Live mixed used development on 27 acres covers more than 6 city blocks and will be THE event center for Southern California.
Located just 1 mile south of of the property is the University of Southern California, one of the world' s leading private research universities. USC, has a total enrollment of 33,389 students, of which 16,729 are at the undergraduate and 16,660 at the postgraduate levels. There are currently 4,390 faculty and about 14,000 support staff. USC is the largest private employer in Los Angeles and the third largest in the state of California and is responsible for $4 billion in economic output in Los Angeles County.
| No. Stories: | 2 | Commission Split: | 2.5% |
| Parking Ratio: | 1 / 1,000 SF | | |
| TaxID/APN: | 5135-015-016 |
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| • | Excellent Unit Mix | • | Recently Renovated Units |
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| • | Ample On-Site Parking | • | Great Upside |
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Financial Summary
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Proforma
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| Year: | 2008 |
| Scheduled Gross Income: | $145,200 |
| Effective Gross Income: | $143,564 |
| Operating Expenses: | $34,752 |
| Net Operating Income: | $108,812 |
| Pre-Tax Cash Flow: | $43,341 |
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| 1-Bed, 1-Bath |
No. Units: 6
SF: 600
Avg. Mo. Rent: $1,100
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| 2-Bed, 1-Bath |
No. Units: 3
SF: 775
Avg. Mo. Rent: $1,300
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| 3-Bed, 1.5-Bath |
No. Units: 1
SF: 105
Avg. Mo. Rent: $1,600
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| Debt & Equity Information |
| Debt Type: | Proposed |
| Loan Amount: | $910,000 |
| Interest Rate: | 6.00% |
| Amortized Over: | 30 |
| Due In: | 5 |
| Annual Debt Service: | $65,471 |
| Down Payment: | $385,000 |
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