2469 Purdue: 2469 Purdue Ave Los Angeles, CA 90064
2469 Purdue: 2469 Purdue Ave Los Angeles, CA 90064
Phone: 310.939.9360
Fax: 866.656.2088
El Segundo, CA 90245
www.KeithMoret.com
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Section Page 1
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
Analysis
Analysis Date
November 2016
Property
Property
2469 Purdue
Property Address
Year Built
1988
Purchase Information
Financial Information
Property Type
MultiFamily
Down Payment
$1,498,000
Purchase Price
$4,280,000
Closing Costs
$6,955
$4,280,000
LT Capital Gain
20.00%
Units
10
15.0%
8,800
9.0%
Resale Valuation
Discount Rate
1.50%
Resale Expenses
5.4%
Loans
Type
Debt
Term
Amortization
Rate
Payment
LO Costs
Fixed
$2,782,000
30 years
30 years
3.85%
$13,042
$27,820
Contact Information
$220,781
Keith Moret
310.617.2240
kemo0325@yahoo.com
DRE# 01802527
$18,398
($64,230)
($5,353)
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections
and analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or
other professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting,
tax or other professional area before making any decisions.
page 3 of 25
2469 Purdue
Property Description
Keith Moret
310.617.2240
page 4 of 25
Property Photos
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
2469 Purdue
Exterior Photos
Swest View
West View
Garden Balconies
Subterranean parking
Secure Entry
page 5 of 25
2469 Purdue
Location Map
Keith Moret
310.617.2240
page 6 of 25
2469 Purdue
Aerial Map
Keith Moret
310.617.2240
page 7 of 25
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Section Page 2
2469 Purdue
Executive Summary
Keith Moret
310.617.2240
ACQUISITION COSTS
Purchase Price, Points and Closing Costs
$4,314,775
Investment - Cash
$1,532,775
First Loan
$2,782,000
INVESTMENT INFORMATION
Purchase Price
$4,280,000
$428,000
$486.36
$22,992
($6,423)
$229,920
($9,139)
Operating Expenses
($64,230)
$156,551
Debt Service
($156,507)
$44
($106,226)
($77,100)
($26,775)
$6,426
$6,470
FINANCIAL INDICATORS
Cash on Cash Return Before Taxes
0.00%
6.59%
1.00
Capitalization Rate
3.66%
18.62
$26.13
($7.30)
29.09%
page 9 of 25
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
INVESTMENT SUMMARY
Price:
Year Built:
Units:
Total
$22,800
$22,800
1BR/1BA
$20,400
$20,400
$22,800
$22,800
1BR/1BA
$19,800
$19,800
$22,800
$22,800
1BR/1BA
$20,640
$20,640
$22,800
$22,800
1BR/1BA
$19,920
$19,920
$22,800
$22,800
1BR/1BA
$19,200
$19,200
$22,800
$22,800
2BR/2BA
$26,400
$26,400
$31,200
$31,200
2BR/2BA
$26,940
$26,940
$31,200
$31,200
2BR/2BA
$27,480
$27,480
$31,200
$31,200
$27,120
$27,120
$31,200
1988
TOTALS
10
8,800
$486.36
Lot Size:
7,834 sf
Floors:
Parking Spaces:
1 to 1
4260-017-034
Cap Rate:
3.66%
4.57%
GRM:
18.62
Market GRM:
16.36
FINANCING SUMMARY
$228,480
$31,200
$261,600
ANNUALIZED INCOME
Actual
Gross Potential Rent
Less: Vacancy
Misc. Income
Effective Gross Income
Less: Expenses
Net Operating Income
Debt Service
Net Cash Flow after Debt Service
Principal Reduction
Total Return
$228,480
($9,139)
$1,440
$220,781
($64,230)
$156,551
($156,507)
$44
$50,281
$50,325
Market
$261,600
$0
$0
$261,600
($66,198)
$195,402
($156,507)
$38,895
$50,281
$89,176
ANNUALIZED EXPENSES
Loan Amount:
$2,782,000
Down Payment:
$1,498,000
Fixed
3.85%
Term:
30 years
Monthly Payment:
$13,042
DCR:
Market
$20,580
2BR/2BA
Price/RSF:
Interest Rate:
Total
$20,580
$4,280,000
$428,000
RSF:
Loan Type:
Actual
1
10
Price/Unit:
APN:
Units
1BR/1BA
1.0
Actual
Market
Building Insurance
Grounds Maintenance
Repairs
Taxes - Real Estate
Trash Removal
Utilities
Utility - Gas
$3,040
$1,200
$5,000
$47,250
$1,740
$5,700
$300
$3,040
$1,200
$5,000
$49,218
$1,740
$5,700
$300
Total Expenses
Expenses Per RSF
Expenses Per Unit
$64,230
$7.30
$6,423
$66,198
$7.52
$6,620
page 10 of 25
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
UNIT MIXES
Units
Type
1
1
1
1
1
1
1
1
1
1
10
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
800
800
800
800
800
800
1000
1000
1000
1000
8,800
$1,715
$1,700
$1,650
$1,720
$1,660
$1,600
$2,200
$2,245
$2,290
$2,260
UNIT MIX
Monthly
$1,715
$1,700
$1,650
$1,720
$1,660
$1,600
$2,200
$2,245
$2,290
$2,260
$19,040
Mkt Rents
Monthly
$1,900
$1,900
$1,900
$1,900
$1,900
$1,900
$2,600
$2,600
$2,600
$2,600
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
2BR/2BA
page 11 of 25
$1,900
$1,900
$1,900
$1,900
$1,900
$1,900
$2,600
$2,600
$2,600
$2,600
$21,800
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Section Page 3
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
Cap Rate
8%
24.0
7%
21.0
6%
18.0
5%
15.0
Avg.
4%
Avg.
15.24
12.0
3.9
3%
9.0
2%
6.0
1%
3.0
Subject
Subject
$483,000
$504
Avg.
$414,000
$415,876
$360
$276,000
$288
$207,000
$216
$138,000
$144
$69,000
$72
$432
$345,000
$552,000
Subject
Avg.
$393.89
Subject
page 13 of 25
2469 Purdue
Keith Moret
310.617.2240
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Sale Price
$4,280,000
# Units
Unit Type
Units
10
Price/Unit
$428,000
Price/SqFt
$486.36
Cap Rate
3.66%
Year Built
1988
1
1
1
1
1
1
1
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
2BR/2BA
GRM
18.62
$4,410,000
# Units
Unit Type
Units
Price/Unit
$551,250
Price/SqFt
$441.35
Cap Rate
4.01%
Year Built
2009
GRM
15.4
NOTES
This property is 2 miles from Subject. It is 10 years newer in vintage and was on-market for 57 Days. The sale is 4 months old
$4,600,000
# Units
Unit Type
Units
12
Price/Unit
$383,333
Price/SqFt
$383.33
Cap Rate
3.88%
Year Built
2006
GRM
16.2
NOTES
This property is 2.5 miles from Subject. It is 18 years newer in vintage. The sale is 10 months old
page 14 of 25
2469 Purdue
Keith Moret
310.617.2240
10981 Rose Ave
10981 Rose Ave
Los Angeles, CA 90034
Sale Price
$2,850,000
# Units
Unit Type
Units
Price/Unit
$316,667
Price/SqFt
$298.18
Cap Rate
N/A
Year Built
1968
GRM
N/A
NOTES
This property is 1.5 miles from Subject. It is 20 years older in vintage and is subject to rent control. The sale is 6 months old
$7,800,000
# Units
Unit Type
Units
20
Price/Unit
$390,000
12
Price/SqFt
$400.82
Cap Rate
4.21%
Year Built
2006
GRM
13.7
NOTES
This property is 2.5 miles from Subject. It is 18 years newer in vintage and was on market for 35 days. The sale is 6 months old
$3,640,000
# Units
Unit Type
Units
Price/Unit
$520,000
Price/SqFt
$269.57
Cap Rate
4.01%
Year Built
1986
GRM
16.1
NOTES
This property is 3 miles from Subject in a comparable neighborhood. It has 7 units and was built in 1986 so it is Subject to rent control. There is deferred maintenance
noted. It was ion market for 34 days and the sale is 9 months old.
page 15 of 25
2469 Purdue
Keith Moret
310.617.2240
2532 S Centinela Av
2532 S Centinela Ave
Los Angeles, CA 90064
Sale Price
$3,400,000
# Units
Unit Type
Units
Price/Unit
$485,714
Price/SqFt
$575.10
Cap Rate
N/A
Year Built
1989
GRM
N/A
12746 Caswell
12746 Caswell Ave
Los Angeles, CA 90066
Sale Price
$4,755,000
# Units
Unit Type
Units
18
Studio/Efficiency
Price/Unit
$264,167
Price/SqFt
$388.86
Cap Rate
3.39%
Year Built
1963
GRM
14.8
NOTES
This property is 1.3 miles from Subject. It is older in vintage (Built in 1963) and was a probate sale with significant deferred maintenance. It was on-market for 15 days and
the sale is 1 month old.
page 16 of 25
2469 Purdue
Keith Moret
310.617.2240
page 17 of 25
On Market Comparables
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
Cap Rate
8%
24.0
7%
21.0
6%
18.0
5%
15.0
4%
Avg.
9.0
2%
6.0
1%
3.0
Subject
18.7
12.0
3.52
3%
Avg.
Subject
$432,000
$504
Avg.
$378,000
$441
$373,586
Avg.
$324,000
$378
$270,000
$315
$216,000
$252
$162,000
$189
$108,000
$126
$54,000
$63
Subject
$399.95
Subject
page 18 of 25
2469 Purdue
On Market Comparables
Keith Moret
310.617.2240
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Sale Price
On Market
$4,280,000
# Units
Unit Type
Units
10
Price/Unit
$428,000
Price/SqFt
$486.36
Cap Rate
3.66%
Year Built
1988
1
1
1
1
1
1
1
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
1BR/1BA
2BR/2BA
GRM
18.62
$4,500,000
# Units
Unit Type
Units
11
Price/Unit
$409,091
Price/SqFt
$319.15
Cap Rate
3.47%
Year Built
1965
GRM
22.0
NOTES
This property is 2.5 miles from Subject. It is older in vintage , built in 1965 and is subject to rent control. It has been on market for 226 Days.
On Market
3431 Vinton
3431 Vinton Ave
Los Angeles, CA 90034
Sale Price
$2,895,000
# Units
Unit Type
Units
Price/Unit
$321,667
Price/SqFt
$381.02
Cap Rate
3.4%
Year Built
1964
GRM
17.0
NOTES
This property is 2.7 miles from Subject. Its been on market for 17 days. It is older in vintage (built in 1964) and subject to rent control.
page 19 of 25
2469 Purdue
On Market Comparables
On Market
Keith Moret
310.617.2240
10203 Tabor
10203 Tabor St
Los Angeles, CA 90034
Sale Price
$3,900,000
# Units
Unit Type
Units
10
Price/Unit
$390,000
Price/SqFt
$499.68
Cap Rate
3.69%
Year Built
1961
GRM
17.1
NOTES
This property is 2.7 miles from Subject. It is older in vintage (built in 1964) and is subject to rent control.It has been on market for 31 days
page 20 of 25
2469 Purdue
On Market Comparables
10203 Tabor St
Los Angeles, CA, 90034
$3,900,000
Keith Moret
310.617.2240
page 21 of 25
Demographics
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
POPULATION
1 MILE
3 MILE
5 MILE
Male
13,954 (49.38 %)
157,281 (48.75 %)
291,598 (48.53 %)
Female
309,265 (50.62 %)
309,265 (51.25 %)
309,265 (51.47 %)
Total Population
28,256
322,601
600,863
AGE BREAKDOWN
1 MILE
3 MILE
5 MILE
Ages 0-4
1,252 (4.43 %)
13,935 (4.32 %)
25,549 (4.25 %)
Ages 5-9
1,508 (5.34 %)
15,613 (4.84 %)
29,699 (4.94 %)
Ages 10-14
1,291 (4.57 %)
13,085 (4.06 %)
25,893 (4.94 %)
Ages 15-19
1,160 (4.11 %)
11,961 (3.71 %)
24,507 (4.08 %)
Ages 20-24
1,167 (4.13 %)
14,537 (4.51 %)
27,863 (4.64 %)
Ages 25-29
1,391 (4.92 %)
19,066 (5.91 %)
33,178 (5.52 %)
Ages 30-34
1,881 (6.66 %)
24,362 (7.55 %)
40,181 (6.69 %)
Ages 35-39
2,430 (8.60 %)
29,024 (9.00 %)
48,009 (7.99 %)
Ages 40-44
2,707 (9.58 %)
31,109 (9.64 %)
53,515 (8.91 %)
Ages 45-49
2,675 (9.47 %)
30,166 (9.35 %)
54,447 (9.06 %)
Ages 50-54
2,356 (8.34 %)
26,941 (8.35 %)
50,492 (8.40 %)
Ages 55-59
2,016 (7.13 %)
23,339 (7.23 %)
45,174 (7.52 %)
Ages 60-64
1,685 (5.96 %)
19,276 (5.98 %)
38,276 (6.37 %)
Ages 65-69
1,329 (4.70 %)
15,198 (4.71 %)
30,857 (5.14 %)
Ages 70-74
1,039 (3.68 %)
11,298 (3.50 %)
23,362 (3.89 %)
Ages 75-79
780 (2.76 %)
8,095 (2.51 %)
17,023 (2.83 %)
Ages 80-84
563 (1.99 %)
5,537 (1.72 %)
11,796 (1.96 %)
Ages 85+
1,026 (3.63 %)
10,059 (3.12 %)
21,042 (3.50 %)
page 22 of 25
Demographics
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
HOUSEHOLD INCOME
1 MILE
3 MILE
Median Income
$67,758
$73,715
5 MILE
$75,140
1,332
11,270
19,236
$10,000 -$14,999
317
5,818
11,987
$15,000 - $19,999
711
5,446
10,671
$20,000 -$24,999
484
5,526
10,413
$25,000 - $29,999
286
5,714
10,244
$30,000 - $34,999
557
5,438
9,933
$35,000 - $39,999
385
5,208
9,811
$40,000 - $44,999
563
5,862
10,644
$45,000 - $49,999
405
5,093
8,881
$50,000 - $59,999
898
10,065
17,956
$60,000 - $74,999
1,219
14,751
26,136
$75,000 - $99,999
1,490
17,358
31,775
$100,000 - $124,999
1,242
13,145
25,352
$125,000 - $149,999
907
8,606
15,939
$150,000 - $199,999
766
10,616
20,434
1,250
16,752
35,328
HOUSING
1 MILE
3 MILE
5 MILE
Housing Units
14,403
165,414
311,349
Occupied Units
13,484
153,130
287,206
5,100
52,852
106,771
8,384
100,278
180,435
Vacant Units
919
12,284
24,143
RACE DEMOGRAPHICS
1 MILE
3 MILE
5 MILE
16,984
221,515
418,396
Population Black
456
9,100
33,985
25
332
633
page 23 of 25
Demographics
2469 Purdue
2469 Purdue Ave
Los Angeles, CA 90064
Keith Moret
310.617.2240
Population Characteristic
1 Mile
3 Mile
5 Mile
Household Income
AGES 0-4
1,252
13,935
25,549
1 Mile
3 Mile
5 Mile
$67,758
$73,715
$75,140
AGES 5-9
1,508
15,613
29,699
< $10000
AGES 10-14
1,291
13,085
25,893
$10000-$14999
1,332
11,270
19,236
317
5,818
11,987
AGES 15-19
1,160
11,961
24,507
AGES 20-24
1,167
14,537
27,863
$15000-$19999
711
5,446
10,671
$20000-$24999
484
5,526
AGES 25-29
1,391
19,066
10,413
33,178
$25000-$29999
286
5,714
10,244
AGES 30-34
1,881
AGES 35-39
2,430
24,362
40,181
$30000-$34999
557
5,438
9,933
29,024
48,009
$35000-$39999
385
5,208
AGES 40-44
9,811
2,707
31,109
53,515
$40000-$44999
563
5,862
10,644
AGES 45-49
2,675
30,166
54,447
$45000-$49999
405
5,093
8,881
AGES 50-54
2,356
26,941
50,492
$50000-$60000
898
10,065
17,956
AGES 55-59
2,016
23,339
45,174
$60000-$74000
1,219
14,751
26,136
AGES 60-64
1,685
19,276
38,276
$75000-$99999
1,490
17,358
31,775
AGES 65-69
1,329
15,198
30,857
$100000-$124999
1,242
13,145
25,352
AGES 70-74
1,039
11,298
23,362
$125000-$149999
907
8,606
15,939
AGES 75-79
780
8,095
17,023
$150000-$199999
766
10,616
20,434
> $200000
1,250
16,752
35,328
AGES 80-84
AGES 85+
563
5,537
11,796
1,026
10,059
21,042
Characteristic Housing
1 Mile
3 Mile
5 Mile
Housing Units
14,403
165,414
311,349
287,206
Race Characteristic
1 Mile
3 Mile
5 Mile
16,984
221,515
418,396
13,484
153,130
456
9,100
33,985
5,100
52,852
106,771
25
332
633
8,384
100,278
180,435
919
12,284
24,143
Population Black
Population Am In/AK Nat
page 24 of 25
2469 Purdue
Biography
Keith Moret
310.617.2240
Professional Bio
Keith Moret is a multi-family specialist with an emphasis on Westside to the Mid-City
area of Southern CA. He recently joined the Ensbury Group after 7 successful years
with RE/MAX Commercial. Prior to 2008, he enjoyed a successful career in
advertising as West Coast Director for Architectural Digest and House and Garden
Magazines, respectively. He also served as Southern CA. Dir. Of Mktg. for This Old
House television show on PBS
He brings a high-level of integrity, passion and enthusiasm that has generated
positive results for his clients. His committment to serving the community resulted in
being elected Vice-Chairman of the Project Area Committee for Herb Wessons City
Council District 10, which he served for 2 years.
page 25 of 25