| EXCLUSIVE MULTIFAMILY OFFERING a Berkshire Hathaway and Jefferies Financial Group company 923 Ocean Avenue | Santa Monica, CA 90403 PRIDE OF OWNERSHIP PROPERTY WITH EXCEPTIONAL OCEAN FRONT LOCATION BUILT: 1936 | UNPRICED OFFERING MIKE SMITH Senior Director 310.209.3248 [email protected]CA BRE License #01460413 JIM FISHER Managing Director 310.209.3247 [email protected]CA BRE License #00693978 INVESTMENT ADVISORS FINANCING ALLAN FREEDMAN Managing Director 310.209.3200 [email protected]Professionally Managed By:
4
Embed
923 Ocean Avenue 4-Pg Flyer · Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. Berkadia Real Estate Advisors
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
a Berkshire Hathaway and Leucadia National company
| EXCLUSIVE MULTIFAMILY OFFERING
a Berkshire Hathaway and Jefferies Financial Group company
923 Ocean Avenue | Santa Monica, CA 90403
PRIDE OF OWNERSHIP PROPERTY WITH EXCEPTIONAL OCEAN FRONT LOCATIONBUILT: 1936 | UNPRICED OFFERING
923 Ocean Avenue is an 8-unit, trophy asset located on Ocean Avenue in the city of Santa Monica, California. Built in 1936, the property consists of one wood frame constructed building with stucco exteriors encompassing a lot area of 7,494 square feet. 923 Ocean Ave contains a desirable unit mix of 2 Studio units approximately 500 sq. ft. as well as 6 One Bedroom units approximately 800 sq. ft. The property is beautifully landscaped with lush grass area, direct ocean views, and proximity to downtown Santa Monica.
a Berkshire Hathaway and Jefferies Financial Group company
PROPERTY SUMMARY
PRO FORMA INCOME & EXPENSES
LOCATION
PROPERTY NAME 923 Ocean Avenue
ADDRESS 923 Ocean Avenue
CITY, STATE Santa Monica, CA 90403
COUNTY Los Angeles
UNIT MIX
Units Type SFCurrent Rents
Market Rent Rent / SF
2 Single 500 $2,313 $3,200 $4.63
6 1 Bed 800 $2,916 $4,500 $3.65
8 725 $2,765 $4,175 $3.81
n Single – 25%
n 1 Bed – 75%25+75+0+0+0+0+HBUILDING
UNITS 8
BUILT 1936
TOTAL SF 7,494
TYPE OF BUILDINGS Garden-Style
EXTERIOR Stucco
IncomeCurrent
Pro FormaMarket
Pro Forma
Scheduled Market Rent $265,464 $400,800 Less: Vacancy Actual is 0.00% 3.00% ($7,964) ($12,024)Net Rental Income $257,500 $388,776
Other Inc. / Misc. Income Buyer to Verify (Estimation) $2,000 $2,100 Total Operating Income (EGI) $259,500 $388,776
IRVINE OFFICE | 2020 Main Street, Suite 200 | Irvine, California 92614
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry.
Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The presence of molds may adversely affect the property and the health of some. If you have questions or concerns regarding this issue conduct further inspections by a qualified professional.
n PRIME SANTA MONICA LOCATION WITH OCEAN VIEWSn WALKING DISTANCE TO DOWNTOWN SANTA MONICA