OFFERING MEMORANDUM
1966-1970 S BEVERLY GLEN BLVDCENTURY CITY, CALIFORNIA
This Offering Memorandum was prepared by KW Commercial onthe behalf of the Owner. By accepting this Offering Memorandum,the party in possession hereof agrees (i) to return it toOwner/Agent immediately upon request and (ii) that this OfferingMemorandum and its contents are of a confidential nature and willbe held and treated in strict confidence. No portion of this OfferingMemorandum may be copied or otherwise reproduced or disclosedto anyone without the prior written authorization of officer ofOwner/Agent. Principals and real estate brokers are prohibitedfrom disseminating this information without the specific writtenconsent of an officer of Owner/Agent.
This Offering Memorandum is subject to errors, omissions, changesor withdrawal without notice and does not constitute arecommendation or endorsement as to the value of the property asa reference and are based on assumptions proposed byOwner/Agent and their sources. Prospective purchasers shouldmake their own projections and reach their own conclusion ofvalue.
Certain portions of this Offering Memorandum merely summarizeor outline property information and are in no way intended to becomplete nor necessarily accurate descriptions. All prospectivepurchasers are to rely upon their own investigations and duediligence in the formation of their assessment of the condition ofthe property, including engineering and environmental inspections.All relevant documents are expected to be reviewed independentlyby any prospective purchaser.
Neither Owner nor the Agent nor any of their respective officers,advisors, agents, or principals has made or will make anyrepresentations or warranties, expressed or implied, as to theaccuracy or completeness of the Offering Memorandum or any ofthe contents, and no legal commitment or obligations shall arise byreason of the Offering Memorandum or the contents. Analysis andverification of the information contained in the OfferingMemorandum is solely the responsibility of the prospectivepurchaser.
Owner reserves the right to reject any or all expressions of interestor offers to purchase this property, as well as the right to terminatediscussions with any party at any time with our without notice.Owner shall have no legal commitment or obligation to anypurchase reviewing this Offering Memorandum or making an offerto purchase this property unless a written agreement for thepurchase of the property has been fully executed, delivered andapproved by Owner and any conditions to Owner’s obligationsthereunder have been satisfied or waived.
The terms and conditions set forth above apply to this OfferingMemorandum in its entirety.
CONFIDENTIALITY AGREEMENT
3
PROPERTY OVERVIEW 1966-70 S Beverly Glen | Century City
Property Summary
Address: 1966-1970 S Beverly Glen Blvd, Los Angeles 90025
# of Units: 8
Bldg. Size: 7,940
Lot Size 10,272
Year Built: 1951
APN # 4319-008-011
Zoning: LAR3
10,272 SF & LAR3 Lot. Potential Future Development Site and Opportunity.
Property Higlights
1) Pride of Ownership Century City Property and location
2) walking distance to Westfield Century City
3) Courtyard Style building on a 10,000 SqFt Lot
4) Great unit mix (all 2 bedroom 1 1/2 Bathroom Units)
5) Beverly Hills adjacent
4 INVESTMENT OVERVIEW 1966-70 S Beverly Glen | Century City
Property Information Financing Assumptions Property Highlights
Price: $3,900,000 Proposed Financing ALL CASH 1. Pride of Ownership Century City Property and location
Equity: 100% $3,900,000 First Loan Amount: New Loan 2.
Number of Units: 8 Terms: 3 year fixed 3.
Cost Per Unit: $487,500 Interest rate: 4. Great unit mix (all 2 bedroom units)
Approx. Age: 1951 Constant rate: 5.
Approx. Lot Size: 10,272 DSCR 5.
Approx. Net RSF: 7,940 GIM / Cap Rate Current ProForma
Cost per Net RSF: $491 Gross Income Multiplier 19.36 14.52
Parking: Capitalization Rate: 3.24% 4.91%
Scheduled Income Estimated Expenses
No. Of
Units
% of
Total Unit Type Unit SF Avg. Rent
Rent
PSF
Monthly
Income
Market
Avg. Rent
Market
Rent PSFExpense Amount Per Unit PSF
% of
SGI
8 100% 2+1.5 940 $2,095 $2.23 $16,762 $2,795 $2.97 $22,360 Property Taxes (1.2%)+ Asmts $48,099 $6,012.40 $6.06 23.91%
Insurance (Est) $3,176 $397.00 $0.40 1.58%
Utilities (Inc. Rubbish) $7,194 $899.27 $0.91 3.58%
Maintenance/Repairs $6,034 $754.29 $0.76 3.00%
Reserves/Misc. $4,029 $503.61 $0.51 2.00%
*Unit Square Footages are estimated based on 95% of the building size. Gardening $1,200 $150.00 $0.15 0.60%
8 100% avg: 940 $2,095 $2.11 $16,762 $2,795 $2.97 $22,360
Laundry Income: $25 $25
Other Income:
Monthly Scheduled Gross Income: $16,787 $22,385
Annualized Scheduled Gross Income: $201,444 $268,620
Annualized Operating Data Current Market
Scheduled Rental Income: $201,144 $268,320
Less Vacancy Rate Reserve: ($5,531) * ($7,379) 2.75% *
Less Bad Debt / Concessions: * *
Additional Income: $300 $300
Gross Operating Income: $195,913 $261,241
Less Operating Expenses: $69,733 34.7% * $69,733 26.0% *
Net Operating Income: $126,180 $191,509
Less Replacement Reserves:
Less Loan Payments:
Pre-Tax Cash Flow: $126,180 3.24% ** $191,509 4.9% ** TOTAL OPERATING EXPENSES: $69,733 $8,716.57 $8.78 34.67%
Plus Principal Reduction: N/Ap N/Ap Expense Ratio: 34.7%
Total Return Before Taxes: $126,180 3.24% ** $191,509 4.9% ** Replacement Reserve:
* As a percentage of Scheduled Gross Income ** As a percentage of Equity Portion (Down Payment)
1950's courtyard style building located in one of the best locations in Los Angeles. Walking
distance to Westfield's Century City, and a few minutes drive to Beverly Hills. Pride of
ownership building with a great unit mix, situated on over 10,000 SqFt of land.
Market Monthly
Income
2.75%
Walking distance to Westfield Century City
Courtyard Style building on a ±10,272 SqFt Lot
Beverly Hills adjacent
Garage & Surface
Future Development Opportunity with LAR3 Zoning
PROPERTY RENT ROLL5 1966-70 S Beverly Glen | Century City
Unit Number Status Unit Type **Unit
SqFt
Current Rent Scheduled Gross
Income
Current Rent
per SF
Market
Rent
Market Rent
per SF
Loss-To-Lease
1 Occupied 2+1.5 940 $2,216 $26,592 $2.36 $2,795 $2.97 $579
2 Occupied 2+1.5 940 $1,791 $21,492 $1.91 $2,795 $2.97 $1,004
3 Occupied 2+1.5 940 $1,910 $22,920 $2.03 $2,795 $2.97 $885
4 Occupied 2+1.5 940 $2,235 $26,820 $2.38 $2,795 $2.97 $560
5 Occupied 2+1.5 940 $2,060 $24,720 $2.19 $2,795 $2.97 $735
6 Vacant 2+1.5 940 $2,795 $33,540 $2.97 $2,795 $2.97 $0
7 Occupied 2+1.5 940 $1,592 $19,104 $1.69 $2,795 $2.97 $1,203
8 Occupied 2+1.5 940 $2,163 $25,956 $2.30 $2,795 $2.97 $632
# of Units# of Units
Occupied
Percentage
of Total
Average
Unit Size
Average
Monthly Rent
Scheduled Gross
Rent
Avg Rent
PSF / Mth
Market
Rent
Market
Rent/SFLoss To Lease
8 7 88% 940 $2,095 $201,144 $2.23 $2,795 $2.97 $5,598
# of Units Bldg. SqFt Price & PPU PPSFGRM &
CAPGRM
S. SUBJECT PROPERTY 8 7,940 $3,900,000 $491.18 19.36 1951
1966-1970 S Beverly Glen $487,500 3.24%
Los Angeles, CA 90025 Comments:
1. 1301 S Beverly Glen Blvd 5 6,789 $3,055,175 $450.02 23.34 1952
Los Angeles, CA 90025 $611,035 2.30%
Comments:
2. 2028 S Beverly Glen Blvd 6 4,390 $2,520,000 $574.03 - 1954
Los Angeles, CA 90025 $420,000 3.56%
Comments:
3. 1851 Midvale Ave 5 5,538 $2,275,000 $410.80 1963
Los Angeles, CA 90025 $455,000
1959 S Beverly Glen Blvd 5 6,690 $2,805,000 $419.28 1953
Los Angeles, CA 90025 $561,000
7 3,344 $507,389 $455.21 23.34 1956
2.93%
7,940 $487,500 $491.18 19.36 1951
3.24%
Comparables Weighted Average
Subject Property
Comparables Weighted Average
Subject Property
90 Day Escrow
Property Sale Date
5/3/2016
Off market. Agent double ended. No special conditions, no exchange. (2 1+1,1 1+1.5 and
2 2+2)
30 Day Escrow
12/22/2016
Off market. Agent double ended. No special conditions, no exchange. (5 1+1 Units, and 1
2+1)
5/2/2016
Less Desirable location, larger units. No special conditions to closing
2/13/2018
21 Day Escrow
82 Days on Market
PROPERTY SALE COMPARABLES6 1966-70 S Beverly Glen | Century City
PROPERTY SALES COMPARABLES7 1966-70 S Beverly Glen | Century City
Address Type Rent Size RPSF
1843 S Beverly Glen 2+1 $2,895.00 1,050 $2.76
1940 S Beverly Glen 2+1 $2,650.00 1,050 $2.52
1810 Pandora Ave 2+2 $3,850.00 1,400 $2.75
1700 S Beverly Glen 2+1 $2,695.00 960 $2.81
Beverly Glen/Rochester 2+2 $3,298.00 1,200 $2.75
2175 Beverly Glen 2+2 $3,695.00 1,400 $2.64
1515 S Beverly Glen 2+2 $3,100.00 1,200 $2.58
AVERAGE: $2,772.88 1,032.50 $2.69
Subject Property $2,779.00 992.50 $2.80
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PROPERTY PHOTOS 1966-70 S Beverly Glen | Century City
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PROPERTY OUTLINE10 1966-70 S Beverly Glen | Century City
PROPERTY PLAT MAP11
11
Subject Property
S
1966-70 S Beverly Glen | Century City
Subject Property
12
S
CITY MAP | CENTURY CITY CA
EXCLUSVELY PRESENTED BY:
David Meir
Anvers Capital Partners | Managing Partner
CA License #00877523
23975 Park Sorrento #110
Calabasas CA, 91302
818.657.6516
Jack Minassian
Anvers Capital Partners | Managing Partner
CA License #01279434
23975 Park Sorrento #110
Calabasas CA, 91302
818.657.6530
www.AnversCP.com | www.AnversNet.com
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