Distressed Industrial Warehouse Building
Downtown LA with an $84K per Year Income
The property is a 8400 SF industrial building on a prime corner
located near Broadway and 32nd street in Downtown LA with a bonus 3600
SF
Mezzanine space making the property 12000 SF.
Lot Size: 8407 SF
17' Foot Ceiling Height
Year Built: 1947
Non Owner User -Investment Property
Appraised Value as of 6/2010: $950,000.00
100% Occupied with an NOI of $84,000.00
Unpaid Default Loan Balance: $800,000.00
15% CAP
Asking: $560,000
Their are several ways to capitalize on this deal:
1) Buyer can continue sale on 3/30 and set price at $885K and if
purchased at auction make
$325K in one day if someone should purchase at auction.
2) Buyer can continue sale on 3/30 and set price low at $750K and if
purchased make
$190K in one day if someone should purchase at auction and still go
after previous
borrower for the difference of $125K. And so on and so on.
3) If know one shows up for sale, property goes immediately to buyer
who can collect the
rent from the tenant for a 15% CAP return and/or market the property
for sale and
anything short of $885K, buyer can go after previous owner for difference.
Their is so many options one can do but it needs to be done by
tomorrow to stop the sale.
Once the sale goes through the property will become an REO and then the bank
will be selling at the current market price of $950K
Distressed Industrial Warehouse Building
Downtown LA with an $84K per Year Income
The property is a 8400 SF industrial building on a prime corner
located near Broadway and 32nd street in Downtown LA with a bonus 3600
SF
Mezzanine space making the property 12000 SF.
Lot Size: 8407 SF
17' Foot Ceiling Height
Year Built: 1947
Non Owner User -Investment Property
Appraised Value as of 6/2010: $950,000.00
100% Occupied with an NOI of $84,000.00
Unpaid Default Loan Balance: $800,000.00
15% CAP
Asking: $560,000
Their are several ways to capitalize on this deal:
1) Buyer can continue sale on 3/30 and set price at $885K and if
purchased at auction make
$325K in one day if someone should purchase at auction.
2) Buyer can continue sale on 3/30 and set price low at $750K and if
purchased make
$190K in one day if someone should purchase at auction and still go
after previous
borrower for the difference of $125K. And so on and so on.
3) If know one shows up for sale, property goes immediately to buyer
who can collect the
rent from the tenant for a 15% CAP return and/or market the property
for sale and
anything short of $885K, buyer can go after previous owner for difference.
Their is so many options one can do but it needs to be done by
tomorrow to stop the sale.
Once the sale goes through the property will become an REO and then the bank
will be selling at the current market price of $950K