3317 BARHAM BLVD LOS ANGELES, CA 90068
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3317 BARHAM BLVD LOS ANGELES, CA 90068 OFFERING MEMORANDUM BRE# 01931128
Transcript of 3317 BARHAM BLVD LOS ANGELES, CA 90068
PowerPoint PresentationOFFERING MEMORANDUM
BRE# 01931128
PROPERTY SUMMARY Property Details Property Highlights Photography
FINANCIALS Financial Overview Rent Roll
COMPARABLES Sales Comps Rent Comps
Max Berger BRE# 02054048
310.963.7851 [email protected]
449 South Beverly Drive, First Floor, Beverly Hills, CA 90212 BRE# 01931128
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
LOCATION HOLLYWOOD, CA
HOLLYWOOD, CALIFORNIA
The recent revitalization of Hollywood, long in the making, is now in full swing. Major entertainment and tech companies like Netflix & Viacom are now embracing the neighborhood. Just in the past 12 months, more than 7,500 new jobs were created in Hollywood.
Hollywood is one of those neighborhoods that needs no introduction, synonymous as it is with the city of Los Angeles itself. Because of its history and famous sites like the Hollywood Walk of Fame, it has always attracted hordes of tourists, but now it has become the epicenter of new Class A office campuses in Los Angeles. Developers are creating millions of sq. ft. of Class A office space and thousands of new luxury rental units. Old Hollywood is stepping in too, with Paramount Pictures recently winning approval for a 1.4 million-square-foot studio expansion. Companies specializing in streaming media and virtual reality are now flocking towards Hollywood.
Hollywood is also one of the most populated areas for schools, with a wide range of colleges and specialized programs like AMDA (American Musical & Dramatic Academy), Emerson College, the Musicians Institute, and AFI, situating themselves in Hollywood. In the past two years there has been a spike in the number of college students relocating to Hollywood.
New restaurants and hotels are also setting up shop in Hollywood in response to the growing tech & entertainment boom such as TAO, The Dream Hotel, and Beauty & Essex. An astonishing number of additional apartments like The ICON building & The Lombardi will be built over the next decade. There is much more activity in Hollywood, reminding everyone that the evolving industry has returned to its roots. The future of what will be is brighter than ever.
HOLLYWOOD HILLS
The Hollywood Hills are the area young money and celebrity are drawn to more than any other neighborhood in Los Angeles. The proximity to the best shopping, dining, and nightlife on the Westside of Los Angeles combined with breathtaking views and a sense of privacy explain the draw for young Hollywood and celebrities from industries such as music and sports. Neighborhoods in Hollywood Hills West include the Bird Streets, Doheny Estates, Sunset Plaza, Outpost Estates, Whitley Heights, Laurel Canyon, Nichols Canyon, Mt. Olympus, and Hollywood Heights. Neighborhoods within Hollywood Hills East include Beachwood Canyon, Lake Hollywood, Lake Hollywood Estates, Hollywoodland, Hollywood Dell, Franklin Village, Hollywood Knolls, and Hollywood Manor.
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
LOCATION OVERVIEW
Runyon Canyon
Hollywood Bowl
Hollywood Sign
TOLUCA LAKE
STUDIO CITY Universal City
PROPERTY DESCRIPTION 3317 Barham Blvd, this 4-unit apartment building is conveniently located between Hollywood and Studio City - close to major Studios in Universal City, Burbank, and Hollywood. The property consist of 4 one-bedroom, one-bathroom units and is situated on a 3,826 square foot lot. The building has been well maintained and was fully renovated in 2014. Units have tankless water heaters, wood floors, new windows, and washer/dryers. Approximately 5 parking spaces.
PROPERTY DETAILS Units 4 Major Intersection Cahuenga Blvd and Barham Blvd Market Hollywood / Hollywood Hills East APN 5579-015-004 Zoning Type LACR Building SF 2,450 SF Lot Size SF 3,826 SF
PROPERTY SUMMARY PROPERTY DETAILS
PROPERTY SUMMARY PROPERTY HIGHLIGHTS
4 UNITS IN HOLLYWOOD / HOLLYWOOD HILLS EAST • Conveniently located between Hollywood & Studio City • Close to major Studios in Universal City, Burbank &Hollywood • Surrounded by multi-million dollar single family homes • Units were fully renovated in 2014 • 5 parking spaces • Separately metered
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
PROPERTY SUMMARY PROPERTY PHOTOS --------------------------------------
FINANCIALS FINANCIAL OVERVIEW - $1,450,000 --------------------------------------
3317 BARHAM BLVD LOS ANGELES CA 90068
INVESTMENT SUMMARY SCHEDULED INCOME Purchase Price: $1,450,000 UNIT MIX CURRENT PRO FORMA Down Payment: $1,450,000 100% Units Beds Baths Average Monthly Rent Monthly Year Built: 1948 4 1 1 $1849 - $1995 $7,650 $2050 - $2500 $8,650 Units: 4 Approx. Lot Size: 3,826 Sq. Ft. Approx. Bldg. NRSF: 2,450 Sq. Ft. Cost per Unit: $362,500
$7,650 $8,650 CURRENT PRO FORMA $0 $0
GRM: 15.80 13.97 Laundry Income $0 $0 CAP: 4.30% 5.10% $7,650 $8,650
$91,800 $103,800
ANNUAL INCOME ANNUAL EXPENSES CURRENT PRO FORMA AMOUNT
Scheduled Gross Income: $91,800 $103,800 1.25% $18,125 Less Vacancy Reserve Rate: ($2,754) 3.00% * ($3,114) 3.00% $1,235 Gross Operating Income: $89,046 $100,686 $2,700 Less Expenses: ($26,732) 29% * ($26,732) 26% Repairs & Maintenance: $3,672 Net Operating Income: $62,314 $73,954 $1,000 Less Debt Service: $0 $0 Pre-Tax Cash Flow: $62,314 4.30% ** $73,954 5.10% Plus Principal Reduction: $0 $0 Total Return Before Taxes: $62,314 4.30% ** $73,954 5.10%
$26,732 $10.91 $6,683
* As a percent of the scheduled gross income. ** As a percent of the down payment Total Expenses: Expense / NRSF: Expense / Unit:
Taxes: (based on new purchase price)
**Insurance: **Utilities:
Scheduled Rent: Garage Income
ITEM
Sheet1
FINANCIALS RENT ROLL
Current Market Lease Unit # Unit Type Rent Rent Date Notes 3317 1 + 1 1,849$ 2,050$ 3/1/2017 3319 1 + 1 1,900$ 2,050$ 11/30/2015 3321 1 + 1 1,906$ 2,050$ 8/9/2017 3323 1 + 1 1,995$ 2,500$ 5/30/2018 Access to Yard
$0 $0
$7,650 $8,650
$91,800 $103,800
LAUNDRY INCOME:
MONTHLY TOTAL:
ANNUAL TOTAL:
Sheet2
Current
Market
Lease
Square
Unit #
Building SF
Price/ Unit
Year Built Unit Mix
3317 Barham Blvd Los Angeles, CA 90068 $1,450,000 - 4 2,450 $362,500 1948 (4) 1+1
1 3339 Primera Ave Los Angeles, CA 90068 $1,744,050 10/25/16 4 3,561 $436,013 1956 (1) 3+2
(3) 1+1
2 2133 Holly Dr Los Angeles, CA 90068 $1,740,000 12/21/17 4 3,100 $435,000 1919
(1) 2+2 (2) 1+1
(1) Studio
3 3055 Hollycrest Dr Los Angeles, CA 90068 $1,540,000 12/1/17 4 3,151 $385,000 1939
(1) 2+1 (2) 1+1
(1) Studio
COMPARABLES SALES COMPS
Sales Comps 3339 Primera Ave 2133 Holly Dr 3055 Hollycrest Dr
3317 Barham Blvd
COMPARABLES RENTAL COMPS
Property Photo Address Rent Unit Type Notes
1 3317 Barham Blvd Los Angeles, CA 90068 $2,050-$2,500 1+1 Subject property
1 3387 Barham Blvd Los Angeles, CA 90068 $2,500 1+1 Renovated unit with 1 parking space, deck, new appliances and
washer/dryer
2 3600 Barham Blvd Los Angeles, CA 90068 $2,185 1+1 Renovated apartment with stainless steel appliances, and washer/dryer
3 2700 Cahuenga Blvd Los Angeles, CA 90068 $2,900 1+1 Renovated top floor unit with vaulted ceilings and exposed wood beams.
One covered garage parking space
4 6736 Hillpark Dr Los Angeles, CA 90068 $2,500 1+1 Large renovated unit with den and 1 parking space
5 3055 Hollycrest Dr Los Angeles, CA 90068 $2,000 1+1 Updated unit with hardwood floors, arched doorways, unique built-ins.
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
COMPARABLES RENTAL COMPS
Rental Comps 3387 Barham Blvd 3600 Barham Blvd 2700 Cahuenga Blvd 6736 Hillpark Dr 3055 Hollycrest Dr
3317 Barham Blvd
FOR MORE INFORMATION PLEASE CONTACT:
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
BRE# 01931128
BRE# 01931128
PROPERTY SUMMARY Property Details Property Highlights Photography
FINANCIALS Financial Overview Rent Roll
COMPARABLES Sales Comps Rent Comps
Max Berger BRE# 02054048
310.963.7851 [email protected]
449 South Beverly Drive, First Floor, Beverly Hills, CA 90212 BRE# 01931128
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
LOCATION HOLLYWOOD, CA
HOLLYWOOD, CALIFORNIA
The recent revitalization of Hollywood, long in the making, is now in full swing. Major entertainment and tech companies like Netflix & Viacom are now embracing the neighborhood. Just in the past 12 months, more than 7,500 new jobs were created in Hollywood.
Hollywood is one of those neighborhoods that needs no introduction, synonymous as it is with the city of Los Angeles itself. Because of its history and famous sites like the Hollywood Walk of Fame, it has always attracted hordes of tourists, but now it has become the epicenter of new Class A office campuses in Los Angeles. Developers are creating millions of sq. ft. of Class A office space and thousands of new luxury rental units. Old Hollywood is stepping in too, with Paramount Pictures recently winning approval for a 1.4 million-square-foot studio expansion. Companies specializing in streaming media and virtual reality are now flocking towards Hollywood.
Hollywood is also one of the most populated areas for schools, with a wide range of colleges and specialized programs like AMDA (American Musical & Dramatic Academy), Emerson College, the Musicians Institute, and AFI, situating themselves in Hollywood. In the past two years there has been a spike in the number of college students relocating to Hollywood.
New restaurants and hotels are also setting up shop in Hollywood in response to the growing tech & entertainment boom such as TAO, The Dream Hotel, and Beauty & Essex. An astonishing number of additional apartments like The ICON building & The Lombardi will be built over the next decade. There is much more activity in Hollywood, reminding everyone that the evolving industry has returned to its roots. The future of what will be is brighter than ever.
HOLLYWOOD HILLS
The Hollywood Hills are the area young money and celebrity are drawn to more than any other neighborhood in Los Angeles. The proximity to the best shopping, dining, and nightlife on the Westside of Los Angeles combined with breathtaking views and a sense of privacy explain the draw for young Hollywood and celebrities from industries such as music and sports. Neighborhoods in Hollywood Hills West include the Bird Streets, Doheny Estates, Sunset Plaza, Outpost Estates, Whitley Heights, Laurel Canyon, Nichols Canyon, Mt. Olympus, and Hollywood Heights. Neighborhoods within Hollywood Hills East include Beachwood Canyon, Lake Hollywood, Lake Hollywood Estates, Hollywoodland, Hollywood Dell, Franklin Village, Hollywood Knolls, and Hollywood Manor.
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
LOCATION OVERVIEW
Runyon Canyon
Hollywood Bowl
Hollywood Sign
TOLUCA LAKE
STUDIO CITY Universal City
PROPERTY DESCRIPTION 3317 Barham Blvd, this 4-unit apartment building is conveniently located between Hollywood and Studio City - close to major Studios in Universal City, Burbank, and Hollywood. The property consist of 4 one-bedroom, one-bathroom units and is situated on a 3,826 square foot lot. The building has been well maintained and was fully renovated in 2014. Units have tankless water heaters, wood floors, new windows, and washer/dryers. Approximately 5 parking spaces.
PROPERTY DETAILS Units 4 Major Intersection Cahuenga Blvd and Barham Blvd Market Hollywood / Hollywood Hills East APN 5579-015-004 Zoning Type LACR Building SF 2,450 SF Lot Size SF 3,826 SF
PROPERTY SUMMARY PROPERTY DETAILS
PROPERTY SUMMARY PROPERTY HIGHLIGHTS
4 UNITS IN HOLLYWOOD / HOLLYWOOD HILLS EAST • Conveniently located between Hollywood & Studio City • Close to major Studios in Universal City, Burbank &Hollywood • Surrounded by multi-million dollar single family homes • Units were fully renovated in 2014 • 5 parking spaces • Separately metered
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
PROPERTY SUMMARY PROPERTY PHOTOS --------------------------------------
FINANCIALS FINANCIAL OVERVIEW - $1,450,000 --------------------------------------
3317 BARHAM BLVD LOS ANGELES CA 90068
INVESTMENT SUMMARY SCHEDULED INCOME Purchase Price: $1,450,000 UNIT MIX CURRENT PRO FORMA Down Payment: $1,450,000 100% Units Beds Baths Average Monthly Rent Monthly Year Built: 1948 4 1 1 $1849 - $1995 $7,650 $2050 - $2500 $8,650 Units: 4 Approx. Lot Size: 3,826 Sq. Ft. Approx. Bldg. NRSF: 2,450 Sq. Ft. Cost per Unit: $362,500
$7,650 $8,650 CURRENT PRO FORMA $0 $0
GRM: 15.80 13.97 Laundry Income $0 $0 CAP: 4.30% 5.10% $7,650 $8,650
$91,800 $103,800
ANNUAL INCOME ANNUAL EXPENSES CURRENT PRO FORMA AMOUNT
Scheduled Gross Income: $91,800 $103,800 1.25% $18,125 Less Vacancy Reserve Rate: ($2,754) 3.00% * ($3,114) 3.00% $1,235 Gross Operating Income: $89,046 $100,686 $2,700 Less Expenses: ($26,732) 29% * ($26,732) 26% Repairs & Maintenance: $3,672 Net Operating Income: $62,314 $73,954 $1,000 Less Debt Service: $0 $0 Pre-Tax Cash Flow: $62,314 4.30% ** $73,954 5.10% Plus Principal Reduction: $0 $0 Total Return Before Taxes: $62,314 4.30% ** $73,954 5.10%
$26,732 $10.91 $6,683
* As a percent of the scheduled gross income. ** As a percent of the down payment Total Expenses: Expense / NRSF: Expense / Unit:
Taxes: (based on new purchase price)
**Insurance: **Utilities:
Scheduled Rent: Garage Income
ITEM
Sheet1
FINANCIALS RENT ROLL
Current Market Lease Unit # Unit Type Rent Rent Date Notes 3317 1 + 1 1,849$ 2,050$ 3/1/2017 3319 1 + 1 1,900$ 2,050$ 11/30/2015 3321 1 + 1 1,906$ 2,050$ 8/9/2017 3323 1 + 1 1,995$ 2,500$ 5/30/2018 Access to Yard
$0 $0
$7,650 $8,650
$91,800 $103,800
LAUNDRY INCOME:
MONTHLY TOTAL:
ANNUAL TOTAL:
Sheet2
Current
Market
Lease
Square
Unit #
Building SF
Price/ Unit
Year Built Unit Mix
3317 Barham Blvd Los Angeles, CA 90068 $1,450,000 - 4 2,450 $362,500 1948 (4) 1+1
1 3339 Primera Ave Los Angeles, CA 90068 $1,744,050 10/25/16 4 3,561 $436,013 1956 (1) 3+2
(3) 1+1
2 2133 Holly Dr Los Angeles, CA 90068 $1,740,000 12/21/17 4 3,100 $435,000 1919
(1) 2+2 (2) 1+1
(1) Studio
3 3055 Hollycrest Dr Los Angeles, CA 90068 $1,540,000 12/1/17 4 3,151 $385,000 1939
(1) 2+1 (2) 1+1
(1) Studio
COMPARABLES SALES COMPS
Sales Comps 3339 Primera Ave 2133 Holly Dr 3055 Hollycrest Dr
3317 Barham Blvd
COMPARABLES RENTAL COMPS
Property Photo Address Rent Unit Type Notes
1 3317 Barham Blvd Los Angeles, CA 90068 $2,050-$2,500 1+1 Subject property
1 3387 Barham Blvd Los Angeles, CA 90068 $2,500 1+1 Renovated unit with 1 parking space, deck, new appliances and
washer/dryer
2 3600 Barham Blvd Los Angeles, CA 90068 $2,185 1+1 Renovated apartment with stainless steel appliances, and washer/dryer
3 2700 Cahuenga Blvd Los Angeles, CA 90068 $2,900 1+1 Renovated top floor unit with vaulted ceilings and exposed wood beams.
One covered garage parking space
4 6736 Hillpark Dr Los Angeles, CA 90068 $2,500 1+1 Large renovated unit with den and 1 parking space
5 3055 Hollycrest Dr Los Angeles, CA 90068 $2,000 1+1 Updated unit with hardwood floors, arched doorways, unique built-ins.
-------------------------------------- 3317 BARHAM BLVD LOS ANGELES CA 90068
COMPARABLES RENTAL COMPS
Rental Comps 3387 Barham Blvd 3600 Barham Blvd 2700 Cahuenga Blvd 6736 Hillpark Dr 3055 Hollycrest Dr
3317 Barham Blvd
FOR MORE INFORMATION PLEASE CONTACT:
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
BRE# 01931128
