Offering Memorandum · City of Los Angeles 13,708 Southern California / Hawa Reg 13,116 U S C 8,634...
Transcript of Offering Memorandum · City of Los Angeles 13,708 Southern California / Hawa Reg 13,116 U S C 8,634...
149 N ALEXANDRIA AVE149 N Alexandria Ave • Los Angeles, CA 90004
Offering Memorandum
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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to
be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other
person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to
provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest
in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.
Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the
income or expenses for the subject property, the future projected financial performance of the property, the size and
square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or
asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or
the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its
occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from
sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the
information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and
makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap
is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights
reserved.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in
this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation
with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any
agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing
tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
149 N ALEXANDRIA AVE
Los Angeles, CA
ACT ID Y0121434
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INVESTMENT
OVERVIEW
149 N ALEXANDRIA AVE
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EXECUTIVE SUMMARY
OFFERING SUMMARY
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES
Sheriffs Dept 16,944
City of Los Angeles 13,708
Southern California / Hawa Reg 13,116
U S C 8,634
Police Dept 8,306
Chief Executive Office 7,309
Cedars-Sinai Medical Center 5,311
Dodger Stadium 5,154
Mtv Networks 5,001
County of Los Angeles 4,846
Ticketmaster Entertainment LLC 4,390
Califrnia Dept State Hospitals 4,000
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2017 Estimate Pop 107,113 615,142 1,175,251
2017 Census Pop 102,381 585,011 1,113,398
2017 Estimate HH 40,749 240,757 458,102
2017 Census HH 38,705 227,251 429,694
Median HH Income $36,951 $38,083 $40,689
Per Capita Income $19,693 $25,935 $28,286
Average HH Income $51,291 $65,394 $70,896
UNIT MIX
NUMBEROF UNITS
UNIT TYPEAPPROX.SQUARE FEET
6 One Bedroom/ One Bathroom
1 Two Bedroom/ One and Half Bathroom
7 Total 4,145
VITAL DATA
Price $1,824,000 CURRENT YEAR 1
Loan Amount $1,003,200 CAP Rate 4.10% 5.88%
Loan Type Proposed New GRM 15.98 12.36
Interest Rate / Amortization 4.00% / 30 YearsNet Operating Income
$74,735 $107,199
Price/Unit $260,571Net Cash Flow After Debt Service
2.10% / $17,262 6.06% / $49,726
Price/SF $440.05 Total Return 4.26% / $34,929 8.30% / $68,112
Number of Units 7
Rentable Square Feet 4,145
Year Built 1988
Lot Size 0.14 acre(s)
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149 N ALEXANDRIA AVE
OFFERING SUMMARY
▪ Non-Rent Control
▪ Drought Resistant Landscaping
▪ Ample Parking
INVESTMENT HIGHLIGHTS
Marcus & Millichap, as the exclusive listing agent, is pleased to present a seven-unit multifamily property located on Alexandria Avenue, in between Beverly Boulevard and
1st Street. Built in 1988, this asset is not subject to rent control; and with a desirable unit mix of six one-bedroom/one-bathroom units and one two-bedroom/one-and-a-half-
bathroom unit, it is highly desirable for those looking to quickly capitalize on a substantial rental upside. Tenant amenities include drought-resistant landscaping, new
windows, and ample parking to the rear of the property.
Boasting a walk score of 85 and an excellent transit score, this property is a short walk to the Vermont/Beverly Metro Station. Not only does this allow accessibility and
convenience for those looking to connect to the rest of Los Angeles, it is a short distance to vibrant local attractions such as DTLA, Dodger Stadium, LA Live and the Griffith
Park Observatory among others.
149 North Alexandria Avenue is a stellar opportunity, as an investor can purchase a well located asset with a tremendous value-add component by bringing the rents to
market in a rapidly gentrifying pocket of Los Angeles, where rent growth is expected to continue to rise as tenants are priced out of the surrounding pockets.
INVESTMENT OVERVIEW
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149 N ALEXANDRIA AVE
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OFFERING SUMMARY
PROPERTY OVERVIEW
Marcus & Millichap, as the exclusive listing agent, is pleased to present a seven-unit multifamily property located
on Alexandria Avenue, in between Beverly Blvd & 1st St. Built in 1988, this asset is not subject to rent control; and
with a desirable unit mix of six 1-bedroom/1-bathroom units & one 2-bedroom/1.5-bathroom units, it is highly
desirable for those looking to quickly capitalize on a substantial rental upside. Tenant amenities include drought-
resistant landscaping, new windows, and ample parking to the rear of the property.
Boasting a walk score of 85 and an excellent transit score, this property is a short walk to the Vermont/Beverly
Metro Station. Not only does this allow accessibility and convenience for those looking to connect to the rest of Los
Angeles, it is a short distance to vibrant local attractions such as DTLA, Dodger Stadium, LA Live & the Griffith
Park Observatory among others.
149 N Alexandria Ave is a stellar opportunity, as an investor can purchase a well located asset with a tremendous
value-add component by bringing the rents to market in a rapidly gentrifying pocket of Los Angeles, where rent
growth is expected to continue to rise as tenants are priced out of the surrounding pockets.
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REGIONAL MAP
149 N ALEXANDRIA AVE
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LOCAL MAP
149 N ALEXANDRIA AVE
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AERIAL PHOTO
149 N ALEXANDRIA AVE
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Marcus & Millichap closes
more transactions than any other
brokerage firm.
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PROPERTY PHOTO
FINANCIAL ANALYSIS
149 N ALEXANDRIA AVE
RENT ROLL SUMMARY
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FINANCIAL ANALYSIS
149 N ALEXANDRIA AVE
PRICING DETAIL
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JOSHUA ROSS ELI APPELSenior Vice President Investments
Director - National Multi Housing Group
Encino Office
Tel: (818) 212-2696
Fax: (310) 598-1980
License: CA 01918715
Senior Associate
National Multi Housing Group
Encino Office
Tel: (818) 212-2707
Fax: (818) 961-0917
License: CA 01918652