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
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
500 W Wilson Avenue, Glendale, CA 91203
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
500 W Wilson Avenue, Glendale, CA 91203
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.
500 W Wilson Avenue, Glendale, CA 91203
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
500 W Wilson Avenue, Glendale, CA 91203
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
PRICING & FINANCIAL ANALYSIS16
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
500 W Wilson Avenue, Glendale, CA 91203
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
Rentable Square Feet 4,142
Price/SF $360.94
CAP Rate - Current 4.70%
CAP Rate - Pro Forma 5.50%
GIM - Current 14.07
GIM - Pro Forma 12.56
Year Built/Renovated 1914 / 1924
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
PRICING & FINANCIAL ANALYSIS18
$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
500 W Wilson Avenue, Glendale, CA 91203
PROPERTY DESCRIPTIONSection 3
500 w wilSon avenue, glendale, ca 91203
PROPERTY DESCRIPTION20
500 W Wilson Avenue
500 W Wilson Avenue, Glendale, CA 91203
regional maP
21PROPERTY DESCRIPTION
500 W Wilson Avenue
500 W Wilson Avenue, Glendale, CA 91203
local maP
500 W Wilson Avenue
500 W Wilson Avenue, Glendale, CA 91203
aerial Photo
PROPERTY DESCRIPTION22
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
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
500 W Wilson Avenue, Glendale, CA 91203
ProPerty Summary
23PROPERTY DESCRIPTION
500 W Wilson Avenue, Glendale, CA 91203
ProPerty PhotoS
PROPERTY DESCRIPTION24
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
PROPERTY DESCRIPTION28
SALES COMPARABLESSection 4
500 w wilSon avenue, glendale, ca 91203
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
500 W Wilson Avenue, Glendale, CA 91203
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
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.
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
RECENT SALES500 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.
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
RECENT SALES500 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.
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
RECENT SALES500 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.
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
Lot Size: 6,981Sale Price: $1,495,000Price/Unit: $299,000
Price/SF: $360.94CAP Rate: 4.70%
GRM: 14.07
NO. OF UNITS UNIT TYPE
1 1 Bdr 1 Bath Cottage4 1 Bdr 1 Bath
500 W Wilson Avenue, Glendale, CA 91203SALES COMPARABLES32
124 S Everett StreetGlendale, CA 91205
Close of Escrow: 10/08/2019Total No. of Units: 8
Year Built: 1960Rentable SF: 5,868
Lot Size: 7,684Sale Price: $2,200,000Price/Unit: $275,000
Price/SF: $374.91CAP Rate: 3.10%
NO. OF UNITS UNIT TYPE
6 1 Bdr 1 Bath2 2 Bdr 2 Bath
2
1443 E Maple StreetGlendale, CA 91205
Close of Escrow: 02/14/2019Total No. of Units: 6
Year Built: 1953Rentable SF: 3,145
Lot Size: 11,326Sale Price: $1,575,000Price/Unit: $262,500
Price/SF: $500.79CAP Rate: 3.75%
GRM: 16.97
NO. OF UNITS UNIT TYPE
6 1 Bdr 1 Bath
3
500 W Wilson Avenue, Glendale, CA 91203 33SALES COMPARABLES
1025 Melrose AvenueGlendale, CA 91202
Close of Escrow: 11/26/2019Total No. of Units: 9
Year Built: 1957Rentable SF: 6,545
Lot Size: 8,747Sale Price: $3,020,000Price/Unit: $335,556
Price/SF: $461.42CAP Rate: 3.40%
NO. OF UNITS UNIT TYPE
9 1 Bdr 1 Bath
5
624 W Wilson AvenueGlendale, CA 91203
Close of Escrow: 06/14/2019Total No. of Units: 14
Year Built: 1963Rentable SF: 9,750
Lot Size: 8,712Sale Price: $3,300,000Price/Unit: $235,714
Price/SF: $338.46CAP Rate: 4.48%
GRM: 15.48
NO. OF UNITS UNIT TYPE
14 1 Bdr 1 Bath
4
500 W Wilson Avenue, Glendale, CA 91203SALES COMPARABLES34
RENT COMPARABLESSection 5
500 w wilSon avenue, glendale, ca 91203
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
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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.
500 W Wilson AvenueGlendale, CA 91203
Total No. of Units: 5Year Built/Renovated: 1914/1924
1
520 W Wilson AvenueGlendale, CA 91203
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
500 W Wilson Avenue, Glendale, CA 91203RENT COMPARABLES38
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.
624 W Wilson AvenueGlendale, CA 91203
Total No. of Units 14Year Built 1963
370 W Wilson AvenueGlendale, CA 91203
Total No. of Units 21Year Built 1986
2 3
UNIT TYPE SF RENT RENT/SF1 Bdr 1 Bath 700 $1,925 $2.75
TOTAL/WTD. AVG. $1,925
UNIT TYPE SF RENT RENT/SF1 Bdr 1 Bath 700 $1,775 $2.54
TOTAL/WTD. AVG. $1,775
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
Total No. of Units 6Year Built 1984
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.
UNIT TYPE SF RENT RENT/SF1 Bdr 1 Bath 800 $1,888 $2.36
TOTAL/WTD. AVG. $1,888
UNIT TYPE SF RENT RENT/SF1 Bdr 1 Bath 800 $1,950 $2.44
TOTAL/WTD. AVG. $1,950
500 W Wilson Avenue, Glendale, CA 91203RENT COMPARABLES40
DEMOGRAPHIC ANALYSISSection 6
500 w wilSon avenue, glendale, ca 91203
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%
500 W Wilson Avenue, Glendale, CA 91203
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
500 W Wilson Avenue, Glendale, CA 91203
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
500 W Wilson AvenueGlendale, Ca
Employment Density
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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
500 W Wilson AvenueGlendale, Ca
Median Household Income
Copyright 2006-2017 TomTom. All rights reserved. This material is proprietary and the subject of copyright protection, database right protection and other intellectual property rights owned by TomTom or its suppliers. The use of this material is subject to the terms of a license agreement. Any unauthorized copying or disclosure of this material will lead to criminal and civil liabilities.
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
500 W Wilson AvenueGlendale, Ca
Population Density
Copyright 2006-2017 TomTom. All rights reserved. This material is proprietary and the subject of copyright protection, database right protection and other intellectual property rights owned by TomTom or its suppliers. The use of this material is subject to the terms of a license agreement. Any unauthorized copying or disclosure of this material will lead to criminal and civil liabilities.
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
Copyright 2006-2017 TomTom. All rights reserved. This material is proprietary and the subject of copyright protection, database right protection and other intellectual property rights owned by TomTom or its suppliers. The use of this material is subject to the terms of a license agreement. Any unauthorized copying or disclosure of this material will lead to criminal and civil liabilities.
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
Copyright 2006-2017 TomTom. All rights reserved. This material is proprietary and the subject of copyright protection, database right protection and other intellectual property rights owned by TomTom or its suppliers. The use of this material is subject to the terms of a license agreement. Any unauthorized copying or disclosure of this material will lead to criminal and civil liabilities.
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
Copyright 2006-2017 TomTom. All rights reserved. This material is proprietary and the subject of copyright protection, database right protection and other intellectual property rights owned by TomTom or its suppliers. The use of this material is subject to the terms of a license agreement. Any unauthorized copying or disclosure of this material will lead to criminal and civil liabilities.
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
500 W Wilson Avenue, Glendale, CA 91203
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Exclusively Listed By:
500 w wilSon avenue, glendale, ca 91203
A NATIONALLY RECOGNIZED APARTMENT BROKERAGE TEAM
Rick E. RaymundoSenior Managing Director Investments
Executive Director, National Multi Housing Group
(213) 943-1855 Direct(818) 219-6146 Mobile
(213) 943-1961 [email protected]
www.RaymundoInvestments.com