4373 Alabama

Brian Nelson, Broker

619-226-6011 x 102
nelson@scc1031.com 4373 Alabama | San Diego , CA 92104
01409860

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6 Units on a large lot

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Great University Heights Location

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Single Story Courtyard Style Setting

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6 Garages

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Sale subject to seller finding up leg

Phone: 858-779-1000 ● Fax: 866-861-7803 ● 3405 Kenyon St #411 ● San Diego, CA 92110 ● www.scc1031.com
 Real Estate Investment Details

ANALYSIS

Analysis Date: May 2010

PROPERTY

Property: 4373 Alabama

Property Address: 4373 Alabama
San Diego , CA 92104

PURCHASE INFORMATION FINANCIAL INFORMATION

Property Type: Multi-Family Down Payment: $399,750

Purchase Price: $975,000 Closing Costs: $0
Fair Market Value: $975,000 Discount Rate: 8.00%
Units: 6
Total Rentable Sq. Ft.: 0
Resale Valuation 0% (annual appreciation)
Resale Expenses: 7.0%

LOANS

Debt Term Rate Payment LO Costs

Fixed $575,250 30 yrs 6.0% $3,449 $5,753

INCOME & EXPENSES CONTACT INFORMATION

Gross Operating Income: $72,582 Brian Nelson, Broker

Monthly GOI: $6,049 01409860
Total Annual Expenses: ($27,281) 619-226-6011 x 102
Monthly Expenses: ($2,273) nelson@scc1031.com

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.

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4373 Alabama Property Description
4373 Alabama Brian Nelson, Broker
San Diego , CA 92104 619-226-6011 x 102

4373 Alabama is a 6 unit pride of ownership

property located in a great area of North Park.
The single story complex is located North of El
Cajon Blvd and West of Texas Street and is
made up of 4 one bedroom one bath units, 1 one
bedroom 1 bath plus a den, and 1 two bedroom
one bath unit. The property was built in 1929
with adobe stucco utilizing the large 9,239 sqft
lot by providing an open courtyard for all the
tenants to enjoy. Of the six garages located on
site, only one is currently rented providing a new
owner the opportunity in increase the revenue.

The main Water and sewer lines in three of the units have been upgraded to copper pipes.

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4373 Alabama Property Photos
4373 Alabama Brian Nelson, Broker
San Diego , CA 92104 619-226-6011 x 102

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4373 Alabama Maps and Aerials
4373 Alabama Brian Nelson, Broker
San Diego , CA 92104 619-226-6011 x 102

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4373 Alabama Executive Summary
4373 Alabama Brian Nelson, Broker
San Diego , CA 92104 619-226-6011 x 102

ACQUISITION COSTS

Purchase Price, Points and Closing Costs $980,753

Investment - Cash $405,503
First Loan $575,250

INVESTMENT INFORMATION

Purchase Price $975,000

Price per Unit $162,500
Price per Sq. Ft. NA
Income per Unit $12,710
Expenses per Unit ($4,547)

INCOME, EXPENSES & CASH FLOW

Gross Scheduled Income $76,260

Total Vacancy and Credits ($3,678)
Operating Expenses ($27,281)
Net Operating Income $45,301
Debt Service ($41,387)
Cash Flow Before Taxes $3,914

Total Interest (Debt Service) ($34,323)

Depreciation and Amortization ($34,161)

FINANCIAL INDICATORS

Cash on Cash Return Before Taxes 0.97%

Optimal Internal Rate of Return (yr 20) 1.30%
Debt Coverage Ratio 1.09
Capitalization Rate 4.65%
Gross Rent Multiplier 12.79
Gross Income / Square Feet $0.00
Gross Expenses / Square Feet $0.00
Operating Expense Ratio 37.59%

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4373 Alabama Pro Forma Summary
4373 Alabama Brian Nelson, Broker
San Diego , CA 92104 619-226-6011 x 102

UNIT MIX & ANNUAL SCHEDULED INCOME

Type Units Actual Total Market Total
1 Bed 1 Bath 1 $10,800 $10,800 $11,100 $11,100
1 Bed 1 Bath 1 $10,800 $10,800 $11,100 $11,100
1 Bed 1 Bath 1 $10,800 $10,800 $11,100 $11,100
1 Bed 1 Bath 1 $10,800 $10,800 $11,100 $11,100
1 Bed 1 Bath plus den 1 $13,560 $13,560 $15,600 $15,600
2 Bed 1 Bath 1 $16,800 $16,800 $17,400 $17,400
TOTALS 6 $73,560 $77,400

INVESTMENT SUMMARY
Price: $975,000 ANNUALIZED INCOME
Units: 6 Actual Market
Price/Unit: $162,500 Gross Potential Rent $73,560 $77,400
RSF: 1 Less: Vacancy ($3,678) $0
Misc. Income $2,700 $8,100
Price/RSF: $975,000.00
Effective Gross Income $72,582 $85,500
Cap Rate: 4.65% Less: Expenses ($27,281) ($27,281)
Pro Forma Cap Rate: 5.97% Net Operating Income $45,301 $58,219
GRM: 12.8 Debt Service ($41,387) ($41,387)
Net Cash Flow after Debt Service $3,914 $16,832
Pro Forma GRM: 11.4
Principal Reduction $7,064 $7,064
Total Return $10,978 $23,896

FINANCING SUMMARY ANNUALIZED EXPENSES

Loan Amount: $575,250
Description Actual Market
Down Payment: $399,750
Advertising $388 $388
Loan Type: Fixed Building Insurance $1,305 $1,305
Interest Rate: 6.00000% Cleaning & Maintenance $625 $625
Term: 30 years Gardening $700 $700
Supplies $4,821 $4,821
Monthly Payment: $3,448.91
Repairs $4,659 $4,659
Taxes - Real Estate $11,018 $11,018
Utilities $3,765 $3,765

Total Expenses $27,281 $27,281

Expenses Per RSF $27,281.00 $27,281.00
Expenses Per Unit $4,547 $4,547

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4373 Alabama Unit Mix Report
4373 Alabama Brian Nelson, Broker
San Diego , CA 92104 619-226-6011 x 102

UNIT MIXES

# Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly
1 1 Bed 1 Bath 0 $900 $900 $925 $925
1 1 Bed 1 Bath 0 $900 $900 $925 $925
1 1 Bed 1 Bath 0 $900 $900 $925 $925
1 1 Bed 1 Bath 0 $900 $900 $925 $925
1 1 Bed 1 Bath plus 0 $1,130 $1,130 $1,300 $1,300
1 2 Bed 1 Bath 0 $1,400 $1,400 $1,450 $1,450
6 0 $6,130 $6,450

UNIT MIX UNIT MIX SQUARE FEET

● 1 Bed 1 Bath ● 1 Bed 1 Bath

● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath plus den ● 1 Bed 1 Bath plus den
● 2 Bed 1 Bath ● 2 Bed 1 Bath

UNIT MIX INCOME UNIT MIX MARKET INCOME

● 1 Bed 1 Bath ● 1 Bed 1 Bath

● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath ● 1 Bed 1 Bath
● 1 Bed 1 Bath plus den ● 1 Bed 1 Bath plus den
● 2 Bed 1 Bath ● 2 Bed 1 Bath

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