Off-Market Development and Commercial Opportunities


Relationships are key in this business, and in order to source off-market assets that are fully deliverable, you must always be direct or work with those that are always direct. We’ve established many of these quality connections to exclusive opportunities, usually only available for short periods.

We’ll be offering these assets on a monthly basis to qualified principals only.

Buyer’s Request List

We currently have active buyer’s seeking the following off market properties

  • Class A Retail or Office properties located in CA, NY, or FL
  • Single Family Fix and Flip or 1-4 units for 1031 exchange
  • Fully Entitled and shovel ready development opportunities no price range
  • Non-shovel ready developments
  • Lots and vacant land
  • Non-performing notes in DC, Maryland, and Virginia
  • Senior Care Facilities
  • Hotels located nationwide – No price range
  • Retail Shopping Centers for 1031 exchange
  • Multi family or self-storage facilities from $20-$40 million, Client would be happy with a 4.8% cap on class A and 5% to 6% cap on class B. No more than 1 hour from Boca Raton, Florida
  • Gas Stations

Development Deals for Sale

071814-fs-headers-real-estate

  • Oceanside Senior Development Fully Entitled- Just fell out of escrow

Price $2.6 million

Just fell out of escrow on 2/19/2015 need offer ASAP

  • Korea Town Development – Los Angeles, CA

Price: $3.8 million

Just feel out of escrow on 2/19/2016- Need new offer ASAP

Description:

Located in on Francis Ave four blocks south of Wilshire Blvd. between Vermont Ave and Hoover Ave., these three lots (2801, 2791, and 2783 Francis Ave) present a rare opportunity for any savvy developer. 20,250 Sq Ft Lot, Three lots to build 68 Units.

Attractively zoned to accommodate up to 68 units and sitting on a 135′ x 150′ lot, and a build-able parcel of 102′ x 132′ when factoring in setbacks, these three lots are a big enough and boast the zoning to accommodate a large project.

Remarks: Zoned R4, 6:1 F.A.R, no height limit, for every 400 square feet of Lot you can build a 1-bedroom unit, for every 600 square feet of Lot you can build a 2-bedroom unit, and for every 800 square feet of Lot you can build a 3-bedroom unit. 1-Bedrooms require one parking space, 2-bedrooms require 1.5 parking spaces and 3-bedrooms require 2 parking spaces.

  • Three Lots
  • 20,250 sqft
  • Zoned: R4
  • Delivered Vacant
  • County: Los Angeles
  • City: Los Angeles
  • Dimensions: 135′ x 150′
  • Height: No Limit
  • F.A.R: 6:1
  • Common Area: 120 sqft/unit
  • Units: 50 w/o Affordable Housing
  • Units: 68 with Affordable Housing
  • Parking: Subterranean

Real-Estate-Development

NORTH SAN GABRIEL VALLEY DEVELOPMENT-Price: $20 Million

  • FULLY ENTITLED AND SHOVEL READY
  • 16,000 square feet
  • 125 units
  • Mixed Use-commercial, residential, and retail
  • We have a full drop box of plans, permits and entitlements and address but it will only be released to VETTED buyers with a valid soft non-binding LOI and POF. This is a very quiet sale and we do not want it circulated.

real_estate

Carson City, CA Development Opportunity- Price $ 4 Million for all combined parcels

This is the location where the Carson stadium was going to be built. The stadium is no longer in play but the city still wants the site developed. There are a total of 6 parcels of land for sale. Based on the City of Carson, you are allowed to build an average of 35 units per acre. On this land you could build at least 30 units. This is zoned as mixed used- commercial and residential.

You could do the following:

1) Build up to 4 story building with commercial spaces downstairs  consists of restaurant and retail stores.

Parking requirements are as follows:

  1. a) every studio – 1 parking
  2. b) every 1,2 or 3- bedroom condo units – 2 parking each
  3. c) restaurant parking – 1 per 100 sqft
  4. d) retail spaces- 1 per 300 sqft
  5. e) or 1 per 200 sqft for combined restaurant and retail spaces

City Owned Parcels:

7343-019-900 – 21704 Figueroa  St , Carson, CA 90745    –   11,851 SQFT

7343-019-901 –  526 W Carson St                                                  5,348 17,199 square feet total

Privately Owned Parcels:

  • 7343-019-046  – 21714 Figueroa                                                   5,033 sqft
  • 7343-019-045  –  21710 FIgueroa                                                  1,893
  • 7343-019-010  –  21718 Figueroa                                                  4,126
  • 7343-019-047  –  21718 Figueroa                                                  12,032

total           23,084 SQFT

Dana Point off Market Existing Mixed Use Retail/Office for re-development or existing cash asset NOT ENTITLED- Price $4,700,000

  • 4,887 sf of existing office / retail / restaurant space
  • 4 units now
  • 2,442 down (retail/restaurant)
  • 2,442 up (office space)
  • mixed use zoning
  • 10,125 sf lot
  • Vacant right now, ready for TI or new tenants
  • Market rents are $4.00/sf retail/restaurant, (lower level) $2.00/sf office (re/max office is 2 doors down and rent at $2.00/sf for office space)
  • Under-market conservative rental analysis:
  • 2,443sf down could generate $3.85 = $9,407 mo
  • 2,443 sf op could get $1.75 = $4,275 mo
  • total PRO-FORMA rents =  $13,682 / mo  or $164,184 yr

DEVELOPMENT POTENTIAL:

1) court yard maybe close off to add 1,000 sf of space easily

ZONED for MIXED USE – Can be converted in to RESIDENTIAL UP or total redevelopment of site with the following development standards below:

CITY RE-DEVELOPMENT STANDARDS:

1) THE CITY WOULD ENCOURAGE WORK/LIVE LOFT UNITS

2) SITE ALLOWS ROUGHLY 25,000 SQUARE FEET OF IMPROVEMENTS

FAR of 2.5 = APPROX 25,00 SF OF BUILD-ABLE SPACE

3) MAXIMUM LOT COVERAGE ALLOWED: NO MAXIMUM

4) SETBACKS: ALLEY: 5’

SIDE STREETS: 10′

5) HEIGHT RESTRICTION: 40’ MAX BUILD HEIGHT

BUILDING HEIGHT MEASUREMENT MEASURE BUILDING HEIGHT FROM THE LEVEL OF THE SIDEWALK AT THE MIDPOINT OF THE FRONT PROPERTY LINE. COUNT 2 STORIES OF ABOVE-GRADE STRUCTURED PARKING AS A SINGLE STORY WHEN FRONTED BY SINGLE STORY OF USABLE GROUND-FLOOR SPACE.

i stock construction

  • Downtown Development Project: – Price $60 Million

  • 33,000 SF site
  •  application submitted with entitlements expected in April 2016
  •   60 story tower (including above-grade parking)
  •   374 residential units (average size of 950 SF)
  •   373 hotel keys (average size 320-370 SF) + gross up of 20-30% for amenities
  •   10,800 SF conference center
  •   33,500 SF office space
  •   65,000 SF commercial/retail space
  •   900 +/- parking spots
  •   Proposed 17:1 FAR based on 33,000 SF = 561,000 SF buildable

DTLA Broadway Development Project- Price $33 million

  • Total Sq. Ft.: 32,169 per county records
  • Parking is 1:1 using bicycle rack ordinance
  • Total sq. ft. of residential units only is not yet determined but estimated 390-395 units + office + retail
  • In-place FAR of 6.0 but site should be able to be rezoned to 13.0 FAR with TFAR (to be confirmed during DD)
  • The main comp that we have for our subject deal is across the street from the development site.  The sale was for an entitled site at 33,056 SF lot size with a 13:1 FAR to 429,728 SF buildable.
  • In comparison, our subject deal is un-entitled and has a lot size of 32,169 SF.  One of the key benefits of our subject deal is that we have an opportunity to purchase the parking covenant from the adjacent parking structure for 383 parking stalls for $20k + monthly maintenance costs which is a significant construction costs savings as generally underground parking will cost $40-45k per parking stall which provides a potential cost savings of $7.66M – $9.58M.

Chino Hills Entitled Development Land for 28 Single Family Estates

  • Price $9 million
  • Entitlements will be completed in 1 month
  • Appraisal came in at $11 million as is right now
  • To receive a copy of the appraisal and full due diligence package must submit valid LOI and US POF

Chino Hills Entitled Development Land for 65 Townhomes

  • Price $14 million
  • Entitlements will be completed end of February 2016
  • Walnut Entitled Development Land for 72 Unit Senior Condos, 5 Unit Commercial Condos
  • Price $7.645 million

Monterey Park Mega Development Opportunity

Price: $27 million

Arcadia Entitled Development Land for 314 houses

Price $61 Million

Hotels for Sale

hotel_for_sale_in_los_angeles

Redlands, CA Hotel

  • Asking Price is $12.5 Million (can make reasonable offer to increase cap rate)
  • Cap Rate: 6%
  • NOI: $780,000.00
  • 3 Star Hotel
  • Financials, Star Report, and Website will be provided once we receive LOI and POF.

Boutique Hotel in Downtown Los Angeles, CA

  • Price – $30 Million
  •  67 rooms
  • Average room rate: $160
  • Average occupancy: 80%
  • Income from NNN lessee (wine bar): $10,000 / month
  • Income from hotel:  $3.3M / year
  • Additional income from hotel restaurants $1M+ (plus the NNN lease for the wine bar, $120K / year)
  • Seller admits to very lax management style, hasn’t focused on getting the numbers up. Tremendous room for value-add in management quality
  • Square footage of the building: 42,000 SF
  • Square footage of the lot: 7,500-8,000
  • Last redesign: recent
  • Restaurant, bars, and spa all new
  • 5 Stories above ground, 1 story underground (restaurant and bars)

11 Hotel Portfolio – USA

  • Price for entire portfolio: $86,250,000
  • 6% to 14% Cap Rates
  • 11 Hotel Portfolio
  • All Major Flags
  • May be Purchased Separately
  • CA, NV, NM, AZ, IL, MI

28953239

Beachfront Boutique Hotel – Newport Beach, CA

  • $15,000,000 FIRM- Seller will not sell if he doesn’t receive his asking price
  • Beautiful Oceanfront Boutique Hotel – Right on the Sand!
  • 29 Keys
  • $800K NOI
  • 5% CAP
  • Beachfront Restaurant
  • Value Add Opportunity available

Newport Beach hotel# 2- Please Ask

Multi-Family Units for Sale

190 Units in Los Angeles, CA- Price $17,825, 000

  • Current NOI: $883,354
  • Current Cap Rate: 4.96%
  • Pro Forma NOI: $1,136, 318
  • Pro Forma Cap Rate: 6.37%
  • Value Add Opportunity
  • Over 3 million in renovations
  • High visibility old world character
  • Master meter for all utilities
  • Five story mid-rise building
  • Built in 1928

image3

50 units Los Angeles, CA ( Mid-Wilshire)- Price $9,250,000

  • Current NOI: $304,314
  • Current Cap Rate: 4.15%
  • Pro Forma NOI: $499,773
  • Pro Forma Cap Rate: 5.4%
  • Prime Mid-Wilshire Location – Two Blocks North of Wilshire
  • Just Over Three Blocks to Metro Station
  • Priced at $185,000 per Unit
  • Value-Add: 25% Proven Rental Upside
  • Beautiful Art Deco Building with Parking
  • Built: 1930

13-645013_5_0

SANTA MONICA’S MOST PRESTIGIOUS LOCATION! 15 Unit Package Deal. The whole building is NOT for sale only 15 units within the 300 unit building. This is also a coop building.

  • Price: $43,000,000.00
  • Yearly Income: $2,095,000.00
  • Offers breathtaking views of the Pacific Ocean, overlooks the broad sandy beaches, and World Famous Santa Monica Pier! Unobstructed views from every angle from the San Gabriel Mountains to Downtown Los Angeles to Catalina Island and Malibu! Minutes away from Beverly Hills and Malibu. Major entertainment, amenities, and shopping close by. Reside in a FULL SERVICE LUXURY BUILDING with 24 hour valet parking and security on-site, recreation room, pool, spa, and health center!
  •  How many Units? 300 units total in the building
  •  Lot Size? approximately 40,000 square feet lot size
  •  Building Sqft?  unknown
  •  Unit Breakdown?
  • Rent $20,000.00 a month double unit (pending actual square footage and beds/ bath from owner)
  • Rent $16,000.00 a month 3 bed 2.5 bath
  • Rent $16,000.00 a month 3 bed 2.5 bath
  • Rent $15,000.00 a month 3 bed 2.5 bath
  • Rent $15,000.00 a month 3 bed 2.5 bath
  • Rent $12,000.00 a month 3 bed 2.5 bath
  • Rent $15,000.00 a month 3 bed 2.5 bath
  • Rent $12,000.00 a month 2 bed 2.5 bath
  • Rent $10,500.00 a month 2 bed 2 bath
  • Rent $8,500.00   a month 1bed 1 bath
  • Rent $8,500.00   a month 1 bed 1 bath
  • Rent $7,000.00   a month 1 bed 1 bath
  • Rent $8,000.00   a month 1 bed 1 bath
  • Rent $6,500.00   a month 1 bed 1 bath
  • Rent $6,500.00   a month 1 bed 1 bath
  •  Current Cap Rate? 5 -7 % depending in unit size
  •  Location? Santa Monica Beach Front
  • Vacancies? None but there are a few vacation rentals in the building

download

353 Units in California: Total Package Price: $36,420,000

Class B and C assets with potential, separate complexes around California. Can be bought individually or as a package deal. All owned by same owner. If bought all together as one package price can be negotiated if bought individually price will be higher. True financials – Rent rolls and P&L’s can be delivered with LOI.

24 Units Sunland, CA: Price $4,500,000.00

  • It is just off Foothill Blvd in Sunland, on the border of Tujunga near Pasadena, a very good location. The building was built by the seller, and he has kept in very good condition. Opportunity to raise rents, no rent control area.  Fee simple.
  • NOI: 225k
  • Cap Rate 5%
  • 100% occupied
  • Unit Mix:
  • 1-2 bed 1.5 bath
  • 20-1 bed 1.5 bath
  • 3 -1 bed 1 bath
  • Each unit is a loft style unit with upper level lofts overlooking the main downstairs living area. The units can be subdivided into individual condos for future sale until 2020. It has approved plans for the conversion. (About 175k a door, could resale as condos for nice margin) A viewing can be scheduled with 24-48 hour notice.

Huntington Beach, CA 16 Units: Price $5,500,000.00

  • 100% Occupied
  • 16 Units
  • 12- 2Bed/2Bath Units
  • 4- 1BD/2BTH units,
  • 24 Garages & 2 Laundry Rooms
  • $280 NOI
  • Cap Rate: 5%

download (1)

Arizona Portfolio Package Price: $31 Million

Value Add Opportunities

  • Seller would like to sell all units together as one package but may allow cherry picking for a higher price and an experienced buyer.
  • 5 separate apartment communities all located in Arizona
  • Portfolio is a total of 750 units between all 5 communities

Jacksonville, Florida Price: $21 Million

  • 328 Units
  • Built: 1975
  • NOI: $1.3 million
  • Cap Rate: 6%

corp-atlanta

Atlanta, GA Price: $3 Million

  • 166 Units
  • Year Built: 1964
  • NOI: $401,711
  • Cap Rate: 13%

Atlanta, GA Price: $2.3 Million

  • 118 Units
  • Year Built: 1972
  • NOI: $282,024
  • Cap Rate: 12%

Office Buildings for Sale

http://www.bisnow.com/washington_dc_women_news_story.php?p=13635

Santa Monica Medical Office- Price $21.6 Million

  • NOI: $1,007,000.00
  • Cap Rate: 4.66%

    – If the Buyer works with the Seller’s existing lender which is a Korean Bank and gets financing from this lender, then the Seller will save $200k on a pre-payment penalty and will reduce the price to $21.4M
    – The deal is a coupon cutter deal with the anchor tenant on a long-term lease until June 2028 (12.5 years remaining) with two 5 year options.
    – Current NOI is $1.007M broken out into base rent of $835,471 and parking income of $171,888
    – The tenants lease has a built in 3% rent growth per year on base rent for the remainder of the lease
    – This location has a partnership with UCLA with a large component of their business being driven by UCLA which provides for long-term stability and reduced flight risk of tenant after the lease expires
    – The deal pencils to a 4.7% cap rate with the rent increase in June 2016 driving the deal to a 4.8% cap rate
    – Closest comp is a medical office in Anaheim which is asking a 5.0% cap rate with a much less desirable location, 5 years remaining on the lease and 2% rent growth built into the lease.

Glendale Office- Price $35 Million

  • NOI (2015): $2,135,935
  • Cap Rate: 6.10%
  • Occupancy: 100%
  • Details:
  • Land:  1.7 acres
  • Building Size:  122,882 SF
  • Stories:  6 stories
  • Built:  1981 / Renovated 1999
  • Parking:  273 stalls (2.2 per 1,000 SF)

Further Details:

  • Leases turning over in 2016 as follows:
  • May 31, 2016
  •   Tenant wants to renew their lease for a long-term new deal
  •   They want to reduce their space by 10,000 SF
  •   Other tenants have expressed interest in 6,000-7,000 SF of this space
  •   Original lease in 2006 included a $1.4M TI which was grossed-up as part of the rent to be paid over the life of the 10 year lease
  •   Base rent was $2.18 PSF
  •   New lease will be based on similar terms but the TI is expected to be less with the smaller footprint and that the space is already built out

title-guarantee-building-interior

  • Creative Office Building in Downtown Los Angeles, CA

  • Asking price: $32M
  • In-place NOI of $1.53M
  • Based on in-place NOI, 4.8% to 5.3% cap rate
  • Leased up for balance of vacant space before turnover of current office leases will be at a 5.50% cap rate
  • Currently at 84% occupancy
  • Major upside on the office rents to bring up from $2.00 PSF to $3.00+
  • Total building size of 87,126 SF
  • Based on pricing, pencils to $367 PSF

Executive Office Building available in Florida- Please ask for attachments

 

Retail Shopping Centers for Sale

buckingham-plaza-1-750xx2729-1535-936-0

  • Cerritos, CA Price: $4,250,000

  • *Value Add opportunity by raising current low rents. Shopping center is currently anchored by Corporate Goodwill and TJ Maxx.
  • Building Size: 18,000 sq ft
  • Lot Size: 68,389 sq ft
  • Current NOI:     $170,000
  • CAP Rate: 4%
  • Price per sq. ft. (Bldg.): $236
  • Price per sq. ft. (Lot.):$62 psf.
  • Proforma NOI: $260,000
  • Proforma CAP Rate: 6.1%

Torrance, CA Price: $5.6 Million

  • 5 Units industrial/office property with development opportunity
  • Major upside potential by raising rents (current rents are only 50 cents a square foot)
  • 100% occupied
  • NOI: $319,360.00
  • Cap Rate: 5.7%

Long Beach, CA Price: $1.3 million

  • Mixed Use- Café, Retail Boutique, and Luxury Apartments
  • Waterfront, Café on bottom and two newer units on top
  • GSI: $84,000
  • Cap Rate: 5%

Huntington Park, CA Price: $8,500,000.00

  • Retail Center
  • NOI: $515,000.00
  • Cap Rate: 6%
  • Ask for executive summary

Lugo Plaza Huntington Park, CA Price: $10,500.00 Retail Center

  • NOI: $630,000.00
  • Cap Rate: 6%

South Gate, CA Price: $5,100,000.00

  • Citi Bank Building
  • NOI: $236,170
  • Cap Rate: 4.6%

SFR Fix and Flip Deals for Sale

LJBT_Backg13.jpg

La Jolla, CA Price $2,730,000

PROPERTY HIGHLIGHTS

Property is located on a highly desirable street in La Jolla with ocean views! It has the bedroom count, bathroom count, garage count and square footage count that luxury home buyers are seeking.

  • $5,500,000+ ARV when remodel completed
  • $5,000,000 projected net sales price
  • 7,160 square feet per building department
  • 6 bedroom
  • 7 bathroom
  • 2 master suites
  • 6 car garage (this is a huge bonus for La Jolla)
  • Prestigious street address – Country Club Drive
  • Ocean views
  • Larger lot
  • 6 off street parking (again, just not found in La JollaCountry Club)

THE NUMBERS  (and these are real figures).

$4,904,600 Sales Price ($685 per SqFt. The ARV is higher)

$   261,431 Selling Costs

$   767,972 Improvement Costs

$     67,425 Holding Costs

$2,730,000 Purchase Price

$1,010,623 Profit   28.34% Cash-on-Cash return

The figures are based on a 12 month turn time. The project can reasonably be turned in under a year. The property will appraise significantly higher than the projected sales price. The home can either be sold for top dollar or can be sold under the $5M threshold for a quicker sale.

Finding a legitimate 28.34% cash-on-cash return in San Diego is extremely rare, bordering on impossible. The use of leverage will obviously improve the yield.

ADDITIONAL INFO

I own it, have an accurate Scope of Work, my contractor has verified the cost estimate, and have a the floor plan designed to make more sense of the existing space. The majority of the renovation is easy over-the-counter permitting allowing work to start immediately.

Why am I wholesaling it? Because I have several multi-million dollar luxury projects in process and I’m trying to purchase an $11M oceanfront project and need to free up capital.

I purchased the Country Club for $2,130,000 which has been a 3-year process. No I will not take less than $2,730,000. I don’t have to sell it. There is clearly a 7-figure pay day even at my asking price. If I don’t get my price, I’ll simply complete the project myself.

I have left plenty of meat on the bone at $2,730,000 for the next investor. The simple fact of the matter is, you will not find another turn-key project  in San Diego which will net you 7-figures and a 28% return in 2016.

Email Direct – Greg@FixandFlippers.com | 858.386.0949

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