4-UNIT APARTMENT FOR SALE IN PLAYA DEL REY...Sale Price Sale Date Total Units Price Per Unit Total...

4-UNIT APARTMENT FOR SALE IN PLAYA DEL REY123 Montreal St.

Playa Del Rey, CA 90293

Woody Stahl | (310) [email protected]

4-Unit Apartment For Sale in PlayaDel Rey

INVESTMENT SUMMARY

Investment Overview

Regional Map

AREA OVERVIEW

Local Map

City Overview

County Overview

Aerial Map

PROPERTY DESCRIPTION

Property Details

3D Map

FINANCIALS

Offering Summary

Net Income Statment

Rent Roll

Unit Mix

COMPARABLES

Sales Comparable Map

Sales Comparables

Rental Comparable Map

Rental Comparables

On Market Comparable Map

On Market Comparables

EXCLUSIVELY MARKETED BY :

Lyon Stahl Investment Real Estate

Brett Lyon

(310) 780-1899

[email protected]

Lic. 01717818

Woody Stahl

(310) 710-3829

[email protected]

Lic. 01399621

4-Unit Apartment For Sale in Playa Del Rey

Investment Summary

123 Montreal St.Playa Del Rey, CA 90293

The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.

Investment SummaryPriceCap RateNOIGRMUnitsOccupancyBuilding SizePrice per Square FootLand AreaOwnership

$2,100,000 4.04%

$84,786 17.64

4100%

2,306 SF$910.67

4,598 SF Fee Simple

Investment Highlights

2,306 SF of total living space situated on 4,603 SF of land●

Four (4) units consisting of (2) 2-Bed/1-Bath & (2) 1-Bed/1-Bath●

Huge upside in market rent potential | Market - 4.80%+ CAP & 15.22 GRM●

Back 1-bed/1-bath unit has been recently renovated | New wood floors,●

kitchen counters, & bathroomsProperty has (4) on-site carports with sufficient street parking●

Built in 1957 | Subject to Los Angeles rent control provisions●

Incredible location in Playa Del Rey! Close proximity to the beach,●

cafes/restaurants, & other retailers

Investment Description

Lyon | Stahl is pleased to present 123 Montreal St., a 4-unit apartment building in the Playa Del Rey neighborhood of Venice, California. This property has a total living area of 2,306 SF and is situated on a 4,603 SF lot. Consisting of two (2) 2-bed/1-bath and two (2) 1-bed/1bath units, the property has the potential to operate at a 4.80%+ Market CAP & 15.22 Market GRM. The property, which was built in 1957 and is subject to rent-control, has four (4) on-site carports (one per unit) and plenty of street parking. The back 1-bed/1-bath unit has been recently renovated with new wood floors, kitchencounters, and bathrooms. Given the property's upside in market rent potentialand close proximity to the beach, this is a great opportunity for any investorlooking to add a great piece of real estate to their portfolio.

● The WALL adjacent to the building is temporary to replace a sewer line


Investment Summary



Regional Map


Area Overview



Local Map


Area Overview



Area Overview

County OverviewThe most heavily populated county in the country is Los Angeles County withapproximately 9.9 million people, including about 1 million that live inunincorporated areas of the county. The metropolis - formed by the sixneighboring counties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 million residents. LosAngeles County is home to one of the most educated labor pools in thecountry and offers a labor force of more than 4.7 million, of which more than1.5 million are college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eight states.According to the United States Conference of Mayors, Los Angeles Countyboasts a GDP among the twenty largest in the world. Los Angeles County’scontinued economic growth, in contrast to other areas of the state and nation,is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast of the California,and covers 4,061 square miles, including the San Clemente and SantaCatalina islands. The County is comprised of approximately 88 vibrant anddiverse cities hosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has a Gross DomesticProduct (GDP) of approximately $446 billion - placing it among the top 20economies in the world. The combined GDP of Los Angeles and its fivesurrounding neighboring counties places it in the top 10. California is generallyconsidered to be in the top five.

If Los Angeles County were its own nation, its economy would be the 18thlargest in the world. It is home to more than 244,000 businesses, with moreminority and women owned businesses than any other in the nation and is thenation’s top international trade center and manufacturing center. Los Angelesis recognized worldwide as a leader in entertainment, health sciences,business services, aerospace and international trade. Because the LosAngeles area is so large and diverse, it has something to offer to everyone.While Hollywood and the Los Angeles beach culture are part of our collectiveimage of Los Angeles, the city also has more museums than any other cityand some of the best hotels in the world are located in Los Angeles.

Over the years, Los Angeles County has developed a diverse economic base,supported by a number of Fortune 500 companies with headquarters in thearea, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTVGroup, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel,and Avery Dennison. Key factors positively impacting the region’s economicposition include increased local media production by the entertainmentindustry and a continuing expansion of import flows. Moreover, growth inaerospace, homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles' well educatedlabor pool, many universities, wonderful climate, and world class infrastructurewill enable Greater Los Angeles to continue to be a world leader in economicand cultural significance.County Highlights

Los Angeles County is the world’s 18th largest economy.●

Los Angeles part of the "Tech Coast" and is regarded as the of the main●

entrepreneurial regions of the world. It has approximately 200,000 smallbusinesses, which is twice as many small businesses as can be found in anyother region of the United States.If Los Angeles' five county area were a state, it would be the fourth largest in●

the United States.Los Angeles has more than 80 stage theaters and 300 museums, more than●

any other U.S city.


Area Overview



Aerial Map


Property Description



Property DetailsAddress 123 Montreal St.

Playa Del Rey, CA90293

Square Footage 2,306 SFLand Area 4,598 SFYear Built 1957Assessors Parcel Number 4116-032-007Zoning LAR3Number of Buildings 1Number of Stories 2Parking 4

Parking Surface Carport


Financials



FinancialOffering Summary

PriceBuilding SizeOwnershipLand AreaNumber of UnitsNumber of StoriesYear BuiltParkingOccupancy

$2,100,000 2,306 SF

Fee Simple 4,598 SF

42

19574

100%

Price per Unit $525,000.00Price per Square Foot $910.67Current CAP Rate 4.04%Pro Forma Cap Rate 4.88%Current GRM 17.64Pro Forma GRM 15.22NOI $84,787Pro Forma NOI $102,571

FinancingLoan Type New/ProposedLoan Amount $1,365,000Down Payment $735,000Interest Rate 4.75%Amortization Period 30 YearsAnnual Payment $85,446


Financials



Net Income Statement

Current AnnualIncome

Proforma AnnualIncome

REVENUESGross Potential Rent $119,076 $138,000Less: Vacancy Rate Reserve 0 4,140

Effective Scheduled Rent 119,076 133,860

(2) Tandem Parking Spaces 0 3,000

Effective Gross Income $119,076 $136,860

OPERATING EXPENSESReal Estate Taxes 25,395 25,395Insurance 922 922Utilities 3,200 3,200Repairs 3,572 3,572Landscaping 1,200 1,200

TOTAL EXPENSES $34,289 $34,289

NET OPERATING INCOME $84,787 $102,571

Debt Service $85,446 $85,446NET CASH FLOW AFTER DEBT SERVICE $-659 $17,125

Principal Reduction $21,063 $21,063TOTAL RETURN 2.78% 5.20%Expenses Per SF $14.87 $14.87% of EGI 28.80% 25.05%


Financials



Rent Roll

Unit Information Lease Rental Rates

Unit No Unit TypeApp. SquareFootage

Status Move In DateCurrentMonthly Rent

PSFPro FormaMonthly Rent

PSF Loss to Lease

1 2 BR 1 BTH - Occupied -- -- ---- $ 2,773.00 - $ 3,250.00 - $ 477.00

2 2 BR 1 BTH - Occupied -- -- ---- $ 3,000.00 - $ 3,250.00 - $ 250.00

3 1 BR 1 BTH - Occupied -- -- ---- $ 2,350.00 - $ 2,500.00 - $ 150.00

4 1 BR 1 BTH - Occupied -- -- ---- $ 1,800.00 - $ 2,500.00 - $ 700.00

4 Units TOTALS 0 Occ:4Vac:0 $9,923.00 $11,500.00 $1,577.00


Comparables



Sales Comparable Map


Comparables



Sales Comparables

Photos Address

Sale PriceSale DateTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit MixYear BuiltLand AreaDays on Market

123 Montreal St.Playa Del Rey, CA90293

$2,100,000N/A4525,000

2,306 SF$9114.04 %17.64

19574,598 SFN/A

338 Pershing DrPlaya Del Rey, CA90293

$980,00008/16/20182$490,000

1,061 SF$924--

19482,880 SF103

6405 Pacific AvePlaya Del Rey, CA90293

$1,845,00008/02/20182$922,500

2,208 SF$8363.63 %22.03

19672,079 SF5

6712 Culver PlPlaya Del Rey, CA90293

$1,225,00012/06/20162$612,500

1,230 SF$996--

19632,098 SF74

Averages

$1,350,000-2$675,000

1,500 SF$9183.63 %22.03

(3) 2BR + 1BTH(1) 1BR + 1BTH

(2) 1-bed/1-bath

(1) 2-bed/1-bath(1) 3-bed/2-bath

(1) Studio(1) 2-bed/1-bath


Comparables



Rental Comparable Map


Comparables



Rental Comparables

Photos AddressDate Surveyed

Total UnitsYear BuiltBldg SFOccupancy

Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF


419572,306 SF100.00%

2 BR / 1 BTH1 BR / 1 BTH

--

$2,887$2,075

--

8635 Falmouth AvePlaya del Rey, CA9029309/06/2017

-1971--

1BR /1BTH 711 SF $2,825 $3.97

Notes # 105

6824 EsplanadePlaya del Rey, CA9029303/19/2018

9196211,615 SF-

1BR /1BTH 1,000 SF $3,095 $3.10

Notes # 202

7524 Trask AvePlay del Rey, CA90293-

119511,340 SF-

2BR /1BTH 1,340 SF $4,200 $3.13


Comparables



Photos AddressDate Surveyed

Total UnitsYear BuiltBldg SFOccupancy

Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF

8118 W 83RD StPlaya del Rey, CA9029308/13/2018

119601,000 SF-

2BR /1BTH 1,000 SF $2,825 $2.83

Notes # B

Averages 4,652 SF- 1,013 SF $ 3,236 $ 3.26


Comparables



On Market Comparable Map


Comparables



On Market Comparables

Photos AddressSale PriceTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit Mix Year BuiltLand Area


$2,100,0004$ 525,000

2,306 SF$9114.04 %17.64

19574,598 SF

165 Culver BlvdPlaya Del Rey, CA90293

$3,400,0004$850,000

2,692 SF$1,2631.84 %38.63

19802,233 SF

Averages$3,400,0004$850,000

2,692 SF$1,2631.84 %38.63

(3) 2BR + 1BTH(1) 1BR + 1BTH

(4) Studio

CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should notbe made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property (“Property”). The information in this Memorandumhas been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limitedto the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmentalrequirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence orabsence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant or any tenant’s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all- inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information andan opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, marketconditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough duediligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/or to terminate discussions at any time with or without notice.The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’sobligations therein have been satisfied or waived.

Exclusively Marketed By:

Lyon Stahl Investment Real Estate

Woody Stahl

(310) 710-3829

[email protected]

Lic. 01399621

Brett Lyon

(310) 780-1899

[email protected]

Lic. 01717818

4-UNIT APARTMENT FOR SALE IN PLAYA DEL REY...Sale Price Sale Date Total Units Price Per Unit Total...

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