MULTIFAMILY INVESTMENT OPPORTUNITY 500 W WILSON …€¦ · 500 W Wilson Avenue, Glendale, CA 91203 INVESTMENT OVERVIEW 7 This Information has been secured from sources we believe

500 W WILSON AVENUEMULTIFAMILY INVESTMENT OPPORTUNITY

GLENDALE, CALIFORNIA 91203

Real estate Investment sales t FInancIng t ReseaRch t advIsoRy seRvIces L O S A N G E L E S C O U N T Y M U L T I F A M I L Y

N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E

C O N F I D E N T I A L I T Y & D I S C L A I M E RThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving

it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing

Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject

property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation,

and makes no warranty or representation, 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 and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance

with State and Federal regulations, the physical condition of the improvements thereon, or the 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 Marketing Brochure has been obtained from

sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus &

Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of

the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark

of Marcus & Millichap Real Estate Investment Services, Inc.

© 2020 Marcus & Millichap. All rights reserved.

N O N - E N D O R S E M E N T N O T I C EMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of

any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap,

its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant

lessee information about this listing to prospective customers.

Activity ID: XXXXXX

A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N L Y .P L E A S E C O N S U L T Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E T A I L S .

Exclusively Listed By:

A NATIONALLY RECOGNIZED APARTMENT BROKERAGE TEAM

L O S A N G E L E S C O U N T Y M U L T I F A M I L Y

OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com

Real estate Investment sales t FInancIng t ReseaRch t advIsoRy seRvIces

Rick E. RaymundoSenior Managing Director Investments

Executive Director, National Multi Housing Group

515 South Flower Street Suite 500Los Angeles, CA 90071

(213) 943-1855 Direct(818) 219-6146 Mobile

(213) 943-1961 [email protected]

www.RaymundoInvestments.com

Section 1 inveStment overview

Section 2 Pricing and Financial analySiS

Section 3 ProPerty deScriPtion

Section 4 recent SaleS

Section 5 rent comParableS

Section 6 demograPhic analySiS

Table of ConTenTs

500 W Wilson AvenueGlendale, CAlifornia 91203

INVESTMENT OVERVIEW500 w wilSon avenue, glendale, ca 91203

Section 1

Marcus & Millichap is pleased to announce the sale of 500 W Wilson Avenue, a thoroughly upgraded five-unit multifamily property located in a highly-desirable pocket of Glendale, CA, only three blocks from the upscale Americana at Brand shopping center. Featuring a charming fourplex and a standalone cottage on the same corner parcel, the property contains spacious, remodeled one bedroom floorplans. Tenants enjoy the property’s combination of vintage character, with its walk-in closets and built-in cabinets, and its modern improvements, including stainless steel appliances and in-unit washer/dryers.

The property has benefitted from several recent upgrades, including copper plumbing, new windows, granite countertops, decorative kitchen backsplashes, new kitchen cabinets, completely remodeled bathrooms, and new landscaping. Thanks to these improvements, there is very little deferred maintenance remaining (Buyer to verify) allowing a new owner to minimize costs while enjoying the asset’s attracttive 4.70% CAP Rate.

Situated on the corner of Wilson Avenue and Pacific Avenue, the building benefits from high visibility and convenient access to the 5 and 134 Freeways. On-site parking is available for tenants, though the property is in a highly-walkable neighborhood with the Americana at Brand, Glendale Galleria, and several major retail and dining destinations within blocks. Directly next door to the property is the newly constructed Vestalia luxury apartment and retail complex, indicating the exciting potential that major real estate developers see in this immediate neighborhood.

inveStment overview

INVESTMENT OVERVIEW6

This Information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. © 2020 Marcus & Millichap Activity ID: XXXXXXXX

500 W Wilson Avenue, Glendale, CA 91203


7INVESTMENT OVERVIEW

This Information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. © 2020 Marcus & Millichap Activity ID: XXXXXXXX

Attractive 4.70% Current CAP Rate When Compared with Similar Recent Sales

Excellent Glendale Location -- Three Blocks from Americana at Brand and Two Blocks from Remodeled Glendale Galleria

Higher Allowable Rent Increases

Extensively Upgraded – Copper Plumbing, In-Unit Washer/Dryers, Granite Countertops, Stainless Steel Appliances, Decorative Backsplashes, Fully Remodeled Bathrooms

Spacious Floorplans – Majority of One Bedroom Units Average Approximately 880 Rentable Square Feet

Next to Brand New Vestalia Luxury Apartments – 180-Unit Resort-Style Complex with 17,000 Square Feet of Ground Floor Retail

Corner Lot with Excellent Visibility

Glendale Recently Rated Among America’s Top 10 Safest Cities by FBI


inveStment highlightS

PRICE PER UNIT PRICE PRICE PER SQUARE FOOT

$299,000 $1,495,000 $360.94

oFFering highlightS

INVESTMENT OVERVIEW8

CAP RATE - CURRENT GIM - CURRENT

4.70% 14.07

THE OFFERING

Property Address500 W Wilson Avenue

Glendale, CA 91203Price $1,495,000

Down Payment 33% / $495,000

Price/Unit $299,000

Price/SF $360.94

Number of Units 5

Rentable Square Feet 4,142

Number of Buildings 2

Number of Stories 2

Year Built/Renovated 1914 / 1924

Lot Size 6,981

VITAL DATACAP Rate - Current 4.70%GIM - Current 14.07

Net Operating Income - Current $70,312

Net Cash Flow After Debt Service - Current 3.2% / $15,754

Total Return - Current 7.0% / $34,621CAP Rate - Pro Forma 5.50%

GIM - Pro Forma 12.56

Net Operating Income - Pro Forma $82,213

Net Cash Flow After Debt Service - Pro Forma 5.6% / $27,655

Total Return - Pro Forma 9.4% / $46,522


9INVESTMENT OVERVIEW

UNIT MIXNO. OF UNITS

UNITTYPE

APPROX. SF

1 1 Bdr 1 Bath Cottage 616

4 1 Bdr 1 Bath 880

5 TOTAL 4,142

THE OFFERING

Property Address: 500 W Wilson Avenue

Glendale, CA 91203

Assessor’s Parcel Number: 5638-001-007

Zoning: GLR4YY

SITE DESCRIPTIONNumber of Units: 5

Number of Buildings: 2

Number of Stories: 2

Year Built / Renovated: 1914 / 1924

Rentable Square Feet: 4,142

Lot Size: 6,981

Type of Ownership: Fee Simple

CONSTRUCTIONFraming: Wood

Exterior: Wood Siding

Parking Surface: Concrete

Roof: Pitched

ProPerty Summary

OFFERING PRICE:

$1,495,000

PROPERTY TOURS:Prospective purchasers are encouraged to drive by the subject property prior to submitting offers. Please do not contact the management company without prior approval. All property tours must be coordinated through the listing agents.


INVESTMENT OVERVIEW10 500 W Wilson Avenue, Glendale, CA 91203

glendale, nicknamed “the Jewel city,” iS ideally located cloSe to downtown l.a., PaSadena, hollywood and the San Fernando valley…In the past 15 years, the City of Glendale has undergone a massive revitalization, as esteemed real estate developers have transformed the skyline, turning vacant lots and outdated buildings into modern shopping destinations and luxury residential structures. After Glendale’s City Council set plans in motion in 2006 to create an “18-hour city,” the area quickly grew into a more walkable urban center. Arguably the centerpiece of this recent boom is the Americana at Brand, a 16-acre high-end outdoor shopping neighborhood from the creator of Los Angeles’ The Grove at Farmers Market.

Thousands of brand new residential condominiums and apartments have been constructed in the past decade, causing an influx of higher-paying tenants to bolster the local renter base. The young professionals who inhabit many of these new developments are often employed by one of several large companies that have a presence in Glendale. In addition to housing the headquarters of several national companies, Glendale and neighboring Burbank boast perhaps the largest collective of animation studios in the country. Disney’s Grand Central Creative Campus houses Marvel Animation Studios, Disney Interactive, the Muppets Studio, and DisneyToon Studio. Also nearby are DreamWorks Animation and KABC-TV.

Catering to this affluent tenant base are new retail destinations, including the aforementioned Americana at Brand. Featuring a large outdoor space with synchronized fountains, decorative chandeliers, and a functioning trolley, the shopping center houses brands such as Tiffany & Co., Nordstrom, Apple, Amazon 4-Star, Tesla, Urban Outfitters, and Sur La Table. Several high-end dining options draw traffic to the center as well as to the newly remodeled Glendale Galleria just across the street.

11INVESTMENT OVERVIEW500 W Wilson Avenue, Glendale, CA 91203

glendale, nicknamed “the Jewel city,” iS ideally located cloSe to downtown l.a., PaSadena, hollywood and the San Fernando valley…

89“VERY WALKABLE”

Most errands can be accomplished on foot.

WALK SCORE

“GOOD TRANSIT”Many nearby public

transportation options.

69TRANSIT SCORE

“BIKEABLE”Some bike

infrastructure.

68BIKE SCORE

$360.94

$299,000

$1,495,000

Price Per Square Foot

Price Per Unit

Price

PRICING & FINANCIAL ANALYSISSection 2

500 w wilSon avenue, glendale, ca 91203

PRICING & FINANCIAL ANALYSIS14

NO. OF UNITS

UNIT TYPE

APPROX. SF

CURRENT RENTS

RENT/SF

MONTHLY INCOME

PRO FORMA RENTS

RENT/SF

MONTHLY INCOME

1 1 Bedroom 1 Bath Cottage 616 $2,030 $3.30 $2,030 $2,095 $3.40 $2,095

4 1 Bedroom 1 Bath 880 $1,695 $1.93 $6,780 $1,945 $2.21 $7,780

5 TOTAL 4,142 $8,810 $9,875

1B1B: 100%

No. ofUnits

UnitType

Approx.Square Feet

CurrentRents

Rent/SF

MonthlyIncome

Pro FormaRents

Rent/SF

MonthlyIncome

1 1 Bdr 1 Bath Cottage 616 $2,030 $3.30 $2,030 $2,095 $3.40 $2,095

4 1 Bdr 1 Bath 880 $1,695 $1.93 $6,780 $1,945 $2.21 $7,780

5 TOTAL 4,142 $8,810 $9,875

Unit Mix Unit Rent & Rent/SF

$0.00

$0.30

$0.60

$0.90

$1.20

$1.50

$1.80

$2.10

$2.40

$2.70

$3.00

$3.30

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

1B1B 1B1B

PRICING AND FINANCIAL ANALYSIS500 W Wilson AvenueGLENDALE, CA

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. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services, Inc. © 2020 Marcus & Millichap. All rights reserved.

UNIT MIX

UNIT MIX UNIT RENT & RENT/SF

1 Bedroom 1 Bath

100% 1 Bedroom

1 Bath 1 Bedroom 1 Bath


unit mix

INCOME CURRENT PER UNIT PRO FORMA PER UNIT

GROSS POTENTIAL RENT $105,720 $21,144 $118,500 $23,700Other Income

RUBS Income $502 $100 $502 $100 GROSS POTENTIAL INCOME $106,222 $21,244 $119,002 $23,800

Vacancy/Collection Allowance (GPR) 3.0% / $3,172 $634 3.0% / $3,555 $711

EFFECTIVE GROSS INCOME $103,050 $20,610 $115,447 $23,089

EXPENSES CURRENT PER UNIT PRO FORMA PER UNIT

Real Estate Taxes (1.0777%) $16,112 $3,222 $16,112 $3,222

Insurance $1,657 $331 $1,657 $331

Utilities $4,318 $864 $4,318 $864

Repairs & Maintenance $2,500 $500 $2,500 $500

Unit Turnover $1,250 $250 $1,250 $250

Management Fee $4,122 $824 $4,618 $924

Reserves & Replacements $1,000 $200 $1,000 $200

Landscaping $1,200 $240 $1,200 $240

Pest Control $580 $116 $580 $116

TOTAL EXPENSES $32,739 $6,548 $33,234 $6,647

Expenses per SF $7.90 $8.02% of EGI 31.8% 28.8%

NET OPERATING INCOME $70,312 $14,062 $82,213 $16,443

15PRICING & FINANCIAL ANALYSIS500 W Wilson Avenue, Glendale, CA 91203

income & exPenSeS


UNIT NUMBER UNIT TYPE UNIT SF CURRENT RENT RENT/SF

119 1 Bedroom 1 Bath Cottage 616 $2,030 $3.30

500 1/2 1 Bedroom 1 Bath 880 $1,695 $1.93

500 1 Bedroom 1 Bath 880 $1,695 $1.93

502 1/2 1 Bedroom 1 Bath 880 $1,695 $1.93

502 1 Bedroom 1 Bath 880 $1,695 $1.93

TOTAL VACANT $0

5 TOTAL OCCUPIED 4,136 $8,810

5 TOTAL 4,136 $8,810

rent roll


PROPERTY DETAILS

Location 500 W Wilson AvenueGlendale, CA 91203

Price $1,495,000

Down Payment 33% / $495,000

Number of Units 5

Price/Unit $299,000


Price/SF $360.94

CAP Rate - Current 4.70%

CAP Rate - Pro Forma 5.50%

GIM - Current 14.07

GIM - Pro Forma 12.56


Lot Size 6,981

Type of Ownership Fee Simple

Annualized Operating DataIncome CURRENT PRO FORMAGross Potential Rent $105,720 $118,500Other Income $502 $502Gross Potential Income $106,222 $119,002Less: Vacancy / Deductions (GPR) 3.0% / $3,172 3.0% / $3,555Effective Gross Income $103,050 $115,447Less: Expenses $32,739 $33,234Net Operating Income $70,312 $82,213Net Cash Flow Before Debt Service $70,312 $82,213Debt Service $54,557 $54,557Debt Coverage Ratio 1.29 1.51Net Cash Flow After Debt Service 3.2% / $15,754 5.6% / $27,655Principal Reduction $18,867 $18,867Total Return 7.0% / $34,621 9.4% / $46,522

Expenses CURRENT PRO FORMAReal Estate Taxes $16,112 $16,112Insurance $1,657 $1,657Utilities $4,318 $4,318Repairs & Maintenance $2,500 $2,500Unit Turnover $1,250 $1,250Management Fee $4,122 $4,618Reserves & Replacements $1,000 $1,000Landscaping $1,200 $1,200Pest Control $580 $580Total Expenses $32,739 $33,234

Expenses / Unit $6,548 $6,647

Expenses / SF $7.90 $8.02

% of EGI 31.77% 28.79%

FINANCING

First Trust DeedLoan Amount $1,000,000Interest Rate 3.6%Amortization 30 Years

Loan information is time sensitive and subject to change. Contact your local Marcus & Millichap Capital Corporation Representative.

17PRICING & FINANCIAL ANALYSIS500 W Wilson Avenue, Glendale, CA 91203

Financial overview


$299,000 $1,495,000 $360.94PRICE PER UNIT PRICE PRICE PER SQUARE FOOT

5 1914 / 1924 4,142 6,981UNITS YEAR BUILT/RENOVATED RENTABLE SQUARE FEET LOT SIZE

4.70% 14.07 5.50% 12.56CAP RATE - CURRENT GRM - CURRENT CAP RATE - PRO FORMA GRM - PRO FORMA

500 W Wilson Avenue, GlendAle, CA 91203


PROPERTY DESCRIPTIONSection 3


PROPERTY DESCRIPTION20

500 W Wilson Avenue


regional maP

21PROPERTY DESCRIPTION

500 W Wilson Avenue


local maP

500 W Wilson Avenue


aerial Photo


THE OFFERING

Property Address500 W Wilson Avenue

Glendale, CA 91203

Assessor’s Parcel Number 5638-001-077

Zoning GLR4YY

SITE DESCRIPTIONNumber of Units 5

Number of Buildings 2

Number of Stories 2



Lot Size 6,981

Type of Ownership Fee Simple

CONSTRUCTIONFraming Wood

Exterior Wood Siding

Parking Surface Concrete

Roof Pitched


ProPerty Summary

23PROPERTY DESCRIPTION


ProPerty PhotoS


ProPerty PhotoS

25PROPERTY DESCRIPTION500 W Wilson Avenue, Glendale, CA 91203

ProPerty PhotoS

PROPERTY DESCRIPTION26 500 W Wilson Avenue, Glendale, CA 91203

ProPerty PhotoS

27PROPERTY DESCRIPTION500 W Wilson Avenue, Glendale, CA 91203

ProPerty PhotoS


SALES COMPARABLESSection 4


1443 E Maple Street

200 S Chevy Chase Drive

1

2500 W Wilson Avenue

4 124 S Everett Street

3

624 W Wilson Avenue

5

1025 Melrose Avenue


SaleS comParable maP

SALES COMPARABLES30

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

Subject 200S

ChevyChaseDrive

124S

EverettStreet

1443E

MapleStreet

624W

WilsonAvenue

1025MelroseAvenue

Average GRM

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

Subject 200S

ChevyChaseDrive

1443E

MapleStreet

624W

WilsonAvenue

Average Cap Rate

RECENT SALES500 W Wilson AvenueGLENDALE, CA


CAP RATE AND GRM Average Price per Square Foot

Average Price per Unit

0.00

50.00

100.00

150.00

200.00

250.00

300.00

350.00

400.00

450.00

500.00

Subject 200S

ChevyChaseDrive

124S

EverettStreet

1443E

MapleStreet

624W

WilsonAvenue

1025MelroseAvenue

0

30,000

60,000

90,000

120,000

150,000

180,000

210,000

240,000

270,000

300,000

330,000

Subject 200S

ChevyChaseDrive

124S

EverettStreet

1443E

MapleStreet

624W

WilsonAvenue

1025MelroseAvenue



PRICE PER SF AND PRICE PER UNIT

Average Price per Square Foot

Average Price per Unit

0.00

50.00

100.00

150.00

200.00

250.00

300.00

350.00

400.00

450.00

500.00

Subject 200S

ChevyChaseDrive

124S

EverettStreet

1443E

MapleStreet

624W

WilsonAvenue

1025MelroseAvenue

0

30,000

60,000

90,000

120,000

150,000

180,000

210,000

240,000

270,000

300,000

330,000

Subject 200S

ChevyChaseDrive

124S

EverettStreet

1443E

MapleStreet

624W

WilsonAvenue

1025MelroseAvenue



PRICE PER SF AND PRICE PER UNIT

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

Subject 200S

ChevyChaseDrive

124S

EverettStreet

1443E

MapleStreet

624W

WilsonAvenue

1025MelroseAvenue

Average GRM

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

Subject 200S

ChevyChaseDrive

1443E

MapleStreet

624W

WilsonAvenue

Average Cap Rate



CAP RATE AND GRM

average Price Per Square Foot

Subject

average caP rate

average grm average Price Per unit

Subject Subject

Subject

Avg 16.22

Avg $265,504

Avg 3.71% Avg $396.86

4.70

%

3.80

%

3.10

%

3.75

%

4.48

%

3.40

%

14.07

16.20

16.97

15.48

$360

.94

$308

.72

$374

.91

$500

.79

$338

.46

$461

.42

$299

,000

$218

,750

$275

,000

$262

,500

$235

,714

$335

,556

500 W Wilson Avenue, Glendale, CA 91203 31SALES COMPARABLES

200 S Chevy Chase DriveGlendale, CA 91205

Close of Escrow: 01/08/2020Total No. of Units: 8

Year Built: 1947Rentable SF: 5,701

Lot Size: 6,692Sale Price: $1,750,000Price/Unit: $218,750

Price/SF: $308.72CAP Rate: 3.80%

GRM: 16.20

NO. OF UNITS UNIT TYPE

6 1 Bdr 1 Bath2 2 Bdr 1 Bath

1

500 W Wilson AvenueGlendale, CA 91203

Subject PropertyTotal No. of Units: 5

Year Built: 1914 / 1924Rentable SF: 4,142



GRM: 14.07


1 1 Bdr 1 Bath Cottage4 1 Bdr 1 Bath

500 W Wilson Avenue, Glendale, CA 91203SALES COMPARABLES32

124 S Everett StreetGlendale, CA 91205






6 1 Bdr 1 Bath2 2 Bdr 2 Bath

2

1443 E Maple StreetGlendale, CA 91205





GRM: 16.97


6 1 Bdr 1 Bath

3

500 W Wilson Avenue, Glendale, CA 91203 33SALES COMPARABLES

1025 Melrose AvenueGlendale, CA 91202






9 1 Bdr 1 Bath

5






GRM: 15.48


14 1 Bdr 1 Bath

4

500 W Wilson Avenue, Glendale, CA 91203SALES COMPARABLES34

RENT COMPARABLESSection 5


7

rent comParable maP

465 Oak Street

520 W Wilson Avenue

2 1

500 W Wilson Avenue

4

3

624 W Wilson Avenue 370 W Wilson Avenue

344 W Lexington Drive

5

500 W Wilson Avenue, Glendale, CA 91203RENT COMPARABLES36

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Subject 520W

WilsonAvenue

624W

WilsonAvenue

370W

WilsonAvenue

465Oak

Street

344W

LexingtonDrive

Average Rents - 1 Bedroom

RENT COMPARABLES500 W Wilson AvenueGLENDALE, CA


OCCUPANCY AND AVERAGE RENTS

Subject

average rentS - 1 bedroom unitS

Avg $1,863

$1,695

-$2,03

0

$1,775

$1,925

$1,775

$1,950

$1,888

500 W Wilson Avenue, Glendale, CA 91203 RENT COMPARABLES 37

AmenitiesProperty features wood plank flooring, central air/heat, ceiling fans, and on-site laundry.


Total No. of Units: 5Year Built/Renovated: 1914/1924

1


Total No. of Units 22Year Built 1986

UNIT TYPE SF RENT RENT/SF1 Bdr 1 Bath 750 $1,775 $2.37

TOTAL/WTD. AVG. $1,775

UNIT TYPE SF RENT RENT/SF1 Bdr 1 Bath Cottage 616 $2,030 $3.301 Bdr 1 Bath 880 $1,695 $1.93

TOTAL/AVG. 4,142 $1,863 $2.13


AmenitiesProperty features wood flooring, granite countertops, covered parking, and on-site laundry.

AmenitiesProperty features in-unit washer/dryers, wood flooring, stainless steel appliances, ceiling fans, and covered parking.





2 3





500 W Wilson Avenue, Glendale, CA 91203 RENT COMPARABLES 39

465 Oak StreetGlendale, CA 91204

Total No. of Units: 23Year Built: 1986

344 W Lexington DriveGlendale, CA 91203


4 5

AmenitiesProperty features wood flooring, central air/heat, crown molding, ceiling fans, covered parking, and on-site laundry.

AmenitiesProperty features wood flooring, stainless steel appliances, and on-site laundry.






DEMOGRAPHIC ANALYSISSection 6


DEMOGRAPHIC ANALYSIS42

Demographic data © by Experian.Demographic data © by Experian.

POPULATION 1 MILE 3 MILES 5 MILES 2023 Owner Occupied Housing Units 17.7% 29.8% 31.9%2000 Population 44,375 224,616 602,178 2023 Renter Occupied Housing Units 82.3% 70.2% 68.1%2010 Population 41,434 217,208 584,922 2023 Vacant 4.3% 2.8% 3.2%2018 Population 44,814 229,123 614,0342023 Population 45,194 230,171 615,485 INCOME 1 MILE 3 MILES 5 MILES

$0 $14,999 16.0% 12.3% 12.9%

HOUSEHOLDS 1 MILE 3 MILES 5 MILES $15,000 $24,999 13.7% 11.2% 10.6%2000 Households 16,656 83,649 225,989 $25,000 $34,999 10.1% 8.3% 8.3%2010 Households 16,239 83,574 227,978 $35,000 $49,999 12.2% 11.4% 11.3%2018 Households 17,760 89,018 242,008 $50,000 $74,999 17.4% 17.2% 16.7%2023 Households 18,074 90,172 245,739 $75,000 $99,999 11.0% 12.0% 11.7%2018 Average HH Size 2.479100 2.557600 2.493400 $100,000 $124,999 7.4% 8.4% 8.5%

$125,000 $149,999 4.5% 5.4% 5.4%2018 Daytime Population 60,623 234,693 598,075 $150,000 $199,999 4.1% 6.0% 6.4%

$200,000 $249,999 1.3% 2.9% 3.2%2000 Median Contract Rent $662 $672 $625 $250,000 + 2.1% 4.8% 5.1%

2000 Owner Occupied Housing Units 20.2% 32.0% 32.6% Median HH Income $47,583 $60,267 $60,4942000 Renter Occupied Housing Units 76.9% 64.7% 63.5% Per Capita Income $27,370 $35,327 $37,0782000 Vacant 2.9% 3.2% 3.9% Average HH Income $68,590 $90,525 $93,308

2010 Owner Occupied Housing Units 20.8% 32.9% 34.1%2010 Renter Occupied Housing Units 79.2% 67.1% 65.9%2010 Vacant 6.9% 5.7% 6.3%

2018 Owner Occupied Housing Units 18.1% 30.1% 32.1%2018 Renter Occupied Housing Units 81.9% 69.9% 67.9%2018 Vacant 4.0% 2.8% 3.2%


de m o g r a P h i c re P o r t

43DEMOGRAPHIC ANALYSIS

radiuS: 5 mileS

Demographic data © by Experian.

POPULATIONIn 2018, the population in your selected geography is 614,034. The population has changed by 1.97% since 2000. It is estimated that the population in your area will be 615,485 five years from now, which represents a change of 0.24% from the current year.

The current population is 49.29% male and 50.71% female. The median age of the population in your area is 39.6, compare this to the Entire US average which is 38.0. The population density in your area is 7,816.81 people per square mile.

HOUSEHOLDSThere are currently 242,008 households in your selected geography. The number of households has changed by 7.09% since 2000. It is estimated that the number of households in your area will be 245,739 five years from now, which represents a change of 1.54% from the current year. The average household size in your area is 2.49 persons.

INCOMEIn 2018, the median household income for your selected geography is $60,494, compare this to the Entire US average which is currently $58,754. The median household income for your area has changed by 62.38% since 2000. It is estimated that the median household income in your area will be $71,588 five years from now, which represents a change of 18.34% from the current year.

The current year per capita income in your area is $37,078, compare this to the Entire US average, which is $32,356. The current year average household income in your area is $93,308, compare this to the Entire US average which is $84,609

RACE & ETHNICITYThe current year racial makeup of your selected area is as follows: 60.70% White, 2.40% Black, 0.09% Native American and 16.13% Asian/Pacific Islander. Compare these to Entire US% averages which are: 70.20% White, 12.89% Black, 0.19% Native American and 5.59% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 35.50% of the current year population in your selected area. Compare this to the Entire US% average of 18.01%.

HOUSINGIn 2000, there were 76,614 owner occupied housing units in your area and there were 149,375 renter occupied housing units in your area. The median rent at the time was $625.

EMPLOYMENTIn 2018, there are 266,597 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 65.62% of employees are employed in white-collar occupations in this geography, and 34.39% are employed in blue-collar occupations. In 2018, unemployment in this area is 5.17%. In 2000, the average time traveled to work was 31.8 minutes


demograPhic Summary

DEMOGRAPHIC ANALYSIS44

500 W Wilson AvenueGlendale, Ca

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Geography CentroidTraffic Point

Street Cross Street Traffic Count Year Distance * Direction *N Pacific Ave W Wilson Ave 23,100 2005 0.02 SE

W Wilson Ave N Pacific Ave 11,000 2005 0.10 E

Salem St N Pacific Ave 1,094 2013 0.13 NE

W Broadway S Columbus Ave 13,151 2009 0.13 SE

N Pacific Ave W California Ave 23,100 2005 0.16 N


Employment Density


Employment Density

Theme Low HighLow less than 45.5Below Average 45.5 295Average 295 1,925Above Average 1,925 12,375High 12,375 or more


Median Household Income


Median Household IncomeTheme Low HighLow less than $31,000Below Average $31,000 $52,000Average $52,000 $85,000Above Average $85,000 $142,500High $142,500 or more


Population Density


Population Density

Theme Low HighLow less than 385Below Average 385 2,050Average 2,050 10,875Above Average 10,875 58,000High 58,000 or more

Demographic data © by Experian.

PoPulation denSity

3823 Wisconsin StreetLos Angeles, Ca

Population Density


Population Density

Theme Low HighLow less than 385Below Average 385 2,050Average 2,050 10,875Above Average 10,875 58,000High 58,000 or more

319 E 53rd StreetLos Angeles, Ca

Employment Density


Employment Density

Theme Low HighLow less than 45.5Below Average 45.5 295Average 295 1,925Above Average 1,925 12,375High 12,375 or more

319 E 53rd StreetLos Angeles, Ca

Median Household Income


Median Household IncomeTheme Low HighLow less than $31,000Below Average $31,000 $52,000Average $52,000 $85,000Above Average $85,000 $142,500High $142,500 or more

average houSehold income

emPloyment denSity

traFFic countS


L O S A N G E L E S C O U N T Y M U L T I F A M I L Y

OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com

Exclusively Listed By:


A NATIONALLY RECOGNIZED APARTMENT BROKERAGE TEAM

Rick E. RaymundoSenior Managing Director Investments

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(213) 943-1855 Direct(818) 219-6146 Mobile

(213) 943-1961 [email protected]

www.RaymundoInvestments.com

MULTIFAMILY INVESTMENT OPPORTUNITY 500 W WILSON …€¦ · 500 W Wilson Avenue, Glendale, CA 91203 INVESTMENT OVERVIEW 7 This Information has been secured from sources we believe

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