1200-1218 Neadeau Street is comprised of 4 parcels with three separate automotive and industrial buildings. The buildings total approximately 5,258 square feet according to tax assessors information. The lot size as recorded on property profile pages is approximately 18,075 sf. The property is currently occupied with three tenants, with the exception of 12000 Nadeau which is currently vacant.

Our analysis has taken into consideration the current income as well as the Proforma future income. The current range of rents for the existing tenants span from $0.58 to $0.90 per square foot. Market rents are higher ranging between $1.50 to $3.00 / SF for some areas, depending on the quality, location and vintage of the building. For the subject property we assumed $2/SF for 1200-1208 Nadeau Street and $1.50/SF for both units at 1216 Nadeau.

At a list price of $695,000 a buyer can hope to achieve a zero cash flow at the initial purchase. Eventually after the investor injects additional capital and improvements into the property the investor can push rents to market levels and hope to achieve a more healthy cash flow.

Location Description:

The subject property is located in the Florence-Firestone neighborhood, which is an unincorporated area in the South L.A. region of Los Angeles County. The neighboring communities are Central-Alameda, Florence, Green Meadows, Huntington Park, Lynwood, South Gate, South Park, Vernon, Walnut Park and Watts. According to a 2000 Census, there are 60,154 population in the area and there are 16,805 people per square mile, about average for South L.A. but among the highest densities for the county. The median household income as recorded in 2008 is $34,408.

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