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Address:545 - 547 1/2 S. Breed St., Los Angeles, CA 90033
Size (sq ft):4542
545 - 547 1/2 S. Breed St., Los Angeles, CA 90033A beautiful remodeled property consisting of 5 Rental Units on an extremely large lot that provides front and alley access. Total size of improvements: 4,542 (+/-) sq. ft. Total lot size: 6,403 (+/-) sq. ft. Zoned LARD1.5 Apartment House (5+ Units). Built in 1924.The property is secured with new wrought iron fencing at the front entrances with a new secured parking area at the rear with parking for 5 cars equipped with a new 6 foot high block wall combined with a 6 foot high electronically controlled wrought iron gate that opens and closes automatically to allow ingress and egress from the alley for Tenant's cars. ADT Alarm Systems have been provided for each unit for added security. The entire property has been repaved from front to alley with new concrete that is lined underneath with a new drainage system along with a sump pump to provide for proper drainage when it rains.Ficus trees that have been planted to provide privacy for Tenants as the trees continue to grow over time and and a secured bike rack has been installed for all to enjoy as they travel. The bedroom and bath make up of each house is as follows:(1) 2 Bedroom and 1 Bath House Renting for $1,300.00(1) 1 Bedroom and 1 Bath Apartment Renting for $1,195.00(1) 1 Bedroom and 1 Bath Apartment Renting for $1,150.00(1) 1 Bedroom and 1 Bath Apartment Renting for $651.40(1) 1 Bedroom and 1 Bath Apartment Renting for $557.42Total Monthly Income: $4,853.82Expenses: 5.00% - Vacancy: $242.69 (Typaically Always 100% Occupied)35% - Average Expenses: $1,613.89Total Expenses: $1,856.58Net Income: $2,997.24Estimated value of the property is $550,000.00 according to a recent Broker Price Opinion performed by Kim Suman of CAPRE - California Professiona Real Estate.Therefore, the Loan to Value for the Subject Loan is 40.00%.The above referenced Monthly Mortgage Payment of $1,466.66 reflects the Subject Loan request of a New $220,000.00 No Cash Out First Trust Deed Loan Request at 40.00% Loan to Value based upon an Interest Rate of 8.00% Fixed Interest Only for 36 Months.Purpose: New $220,000.00 No Cash Out Refinance in order to lower the current interest rate with the existing Second Trust Deed in the amount of $152,500.00 and existing Third Trust Deed in the amount of $47,500.00 subordinating in order to provide additional secured protection for the New First Trust Deed Beneficiary. The Owner/Borrower, Antonio Santillan 1993 Trust, is a Rental Property Income Producing Real Estate Investment Trust that currently owns a high end Single Family Residence Investment Property in the Beverly Hills Adjacent Area of Los Angeles, CA, a 5 Unit Investment Rental Property in Los Angeles, CA, 2 Single Family Residence Investment Properties in Cathedral City, CA, 1 Single Family Residence Investment Property in Desert Hot Springs, CA, and a high end Single Family Primary Residence in Palm Springs, CA.The Antonio Santillan 1993 Trust's most recent 6 months of bank statements with Bank of America from 08/01/2012 to 01/31/2013 show total deposits of $139,329.54, with average monthly deposits of $23,221.59.A COMPLTE PACKAGE IS AVAILABLE UPON REQUEST.
Provided by Broker: Adams Financial Services, Inc.
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vFlyer ID: 161108022