BRAND NEW CONSTRUCTION FOURPLEX IN A+ TOLUCA LAKE … · in an unbeatable location with a huge...
Transcript of BRAND NEW CONSTRUCTION FOURPLEX IN A+ TOLUCA LAKE … · in an unbeatable location with a huge...
BRAND NEW CONSTRUCTION FOURPLEX IN A+ TOLUCA LAKE ADJ.
10853 HARTSOOK ST
TABLE OF CONTENTSOffering Summary 5 - 10
Pricing & Financials 11 - 13
Sales Comparables 14 - 17
Property Photos 18 - 21
The 2-4 Unit Specialists are pleased to present 10853 Hartsook St, a sleek,
beautifully designed new construction fourplex that is made up of two standalone
2-story duplexes. This property is currently in construction, with completion
estimated to be June/July 2020. This easy to manage fourplex will provide
investors an excellent projected cap rate of 5.21% (based on very conservative
rental data obtained amidst Covid-19). In addition to the high return, buyers
will enjoy other notable perks including: NO RENT CONTROL, a 1 year builder’s
warranty, brand new EVERYTHING, little to no maintenance, separate meters
for gas, water & electric, and extreme desirability amongst renters. Not to
mention, 10853 Hartsook is located in an A+ residential neighborhood that is
sandwiched between Toluca Lake and the NoHo Arts District. A trophy property
in an unbeatable location with a huge return– that is a true recipe for success!
The property is made up of one 4 bedroom, 4 bathroom unit with a pro forma
rent of $3,899 and three 3 bedroom, 3 bathroom units with pro forma rents of
$3,3350-$3,399. The units will feature: laundry hookups in each unit, stainless
steel appliances, high quality finishes, upscale modern kitchens, stunning bath-
rooms, and extremely spacious floor plans! There are three 1-car garages on
site as well as five additional exterior parking spaces.
10853 HARTSOOK ST | OFFERING SUMMARY 6
OFFERING SUMMARY
10853 HARTSOOK ST | OFFERING SUMMARY 7
PROPERTY OVERVIEW
THE PROPERTY: Address: 10853 Hartsook St, North Hollywood, CA 91601APN: 2419-008-021# Units: 4# Buildings: 2Year Built: Coming Soon! Expected Completion of June/July 2020Building Size (SF): 5,085Lot Size (SF): 6,766Rent Control: NoOpportunity Zone: NoZoning: LARD1.5
THE OFFERING: List Price: $2,450,000Cap Rate: 5.21%GRM: 14.59Price Per SF: $481.81Price Per Unit: $612,500
UTILITIES: Water: Separately Metered for Units (Tenant Pays) and 1 House Meter for Common Area (Landlord Pays)Electric: Separately Metered for Units (Tenant Pays) and 1 House Meter for Common Area (Landlord Pays)Gas: Separately Metered (Tenant Pays)
AMENITIES: Stories: 2Appliances: Stainless Steel, Kitchen Appliances Provided
Parking: Three 1-Car Garages, Five Exterior Spaces
Air/Heat: Central
Landscaping: Drought Tolerant
● Trophy property in an A+ neighborhood with a high cap rate= the recipe for success.
● 5.21% cap rate!
● No rent control!
● All bedrooms come with their own bathroom, a huge plus for tenants, making the lease up
all the easier!
● Great way to obtain easy, passive income!
● All units separately metered for gas, electric AND water! Very low expenses.
● Modern units with stainless steel appliances, open floorplans and bright, cheerful design.
● 8 parking spaces on site.
● Situated in a peaceful residential neighborhood that is sandwiched between upscale Toluca
Lake and the trendy NoHo Arts District.
10853 HARTSOOK ST | OFFERING SUMMARY 8
INVESTMENT HIGHLIGHTS
10853 HARTSOOK ST | OFFERING SUMMARY 9
LOCATION HIGHLIGHTS
● This property is sandwiched directly between the ultra trendy NoHo Arts District and the super upscale Toluca Lake neighborhood. Enjoy the absolute best of both worlds!
• Toluca Lake is an area that is equated with luxury. It is home to countless celebrities and high earners due to the safety of the area and the prevalence of multi million
dollar homes.
• NoHo is home to the most popular arts, dining and nightlife scene in all of the Valley. Rentals are in the highest of demand in this area.
● Walking distance to an unlimited supply of restaurants, bars and shops including The Federal, El Tejano, Brick Yard Pub and The Republic of Pie. Also less than a mile
from the coming-soon Whole Foods Development, Starbucks, Chipotle, Pitfire Pizza, Eat, the Television Academy, The Laemmle Theaters, Bank of America and many other
convenient destinations.
● Nearby rentals of a comparable size in new construction apartment buildings such as “The Hesby” and “NoHo West” lease for $4,000+. The rental market in this area is
unbeatable, attracting high quality, professional renters.
10853 HARTSOOK ST | OFFERING SUMMARY 10
LOCATION HIGHLIGHTS MAP
10853 HARTSOOK ST | PRICING & FINANCIALS 12
FINANCIAL SUMMARY & RENT ROLL
10853 HARTSOOK ST | PRICING & FINANCIALS 13
FINANCIAL ANALYSIS
● 10853 Hartsook St, NoHo (Subject Property)
● 5626 Auckland, NoHo
● 10835 Blix, Toluca Lake
● 10925 Hesby, NoHo
● 10861 Hesby, NoHo
● 10930 Hartsook, NoHo
● 5649 Klump, NoHo
● 5740 Case, NoHo
10853 HARTSOOK ST | SALES COMPS 15
SALES COMPARABLES MAP
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10853 HARTSOOK ST | SALES COMPS 16
SALES COMPARABLES CHART
# ADDRESS UNITS SALES PRICE $/SF $/UNIT CAP RATE GRM BLDG SF LOT
SQFTCLOSE DATE
YEAR BUILT
1 5626 Auckland, NoHo 4 $2,650,000 $440.86 $662,500 5.45% 13.80 6,011 6,250 12/20/19 2019
2 10835 Blix, Toluca Lake 4 $2,635,000 $438.87 $658,750 5.38% 14.21 6,004 7,678 2/4/20 2019
3 10925 Hesby, NoHo 4 $2,630,000 $499.62 $657,500 5.06% 14.86 5,264 5,804 9/20/18 2018
4 10861 Hesby, NoHo 4 $2,600,000 $432.04 $650,000 5.01% 15.20 6,018 6,128 1/24/20 2019
5 10930 Hartsook, NoHo 4 $2,500,000 $497.22 $625,000 5.25% 14.27 5,028 6,751 11/6/18 2018
7 5649 Klump, NoHo 4 $2,350,000 $429.46 $587,500 5.38% 14.35 5,472 6,527 8/27/19 2019
8 5740 Case, NoHo 4 $2,350,000 $438.11 $587,500 5.70% 13.51 5,364 6,000 6/30/19 2018
AVERAGE: 4 $2,628,750 $469.89 $657,188 5.32% 14.31 5,594 6,448
10853 HARTSOOK, NOHO: 4 $2,450,000 $481.81 $612,500 5.21% 14.59 5,085 6,766 2020
10853 HARTSOOK ST | SALES COMPS 17
SALES COMPARABLES PHOTOS
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10853 HARTSOOK ST | PROPERTY PHOTOS 19
CURRENT CONDITION
10853 HARTSOOK ST | PROPERTY PHOTOS 20
RENDERINGS
10853 HARTSOOK ST | PROPERTY PHOTOS 21
RENDERINGS