14617 gilmore street, van nuys, ca, usa
TRANSCRIPT
14617 Gilmore Street,14617 Gilmore Street,Van Nuys, CAVan Nuys, CA
2CONFIDENTIALITY AGREEMENT
The information contained in the following marketing brochure is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from FlashmanInvestment Group (FIG) and should not be made available to any other person or entity withoutthe written consent of FIG. This marketing brochure has been prepared to provide summary,unverified information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property. The information presented herein is based on unaudited, third-party data and performance information provided to the Flashman Investment Group (FIG).While FIG believes this information to be reliable, neither FIG nor any of its affiliates orrepresentatives make any representation or warranty, express or implied, as to the accuracy orcompleteness of the information contained herein and nothing contained herein may be reliedupon as an indicator or representation as to prior or future performance. The informationcontained herein is not a substitute for a due diligence investigation, and makes no warranty orrepresentation, with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the propertyand improvements, the presence or absence of contaminating substances, PCB’s or asbestos,the compliance with state and federal regulations, the physical condition of the improvementsthereon, or the financial condition or business prospects of any tenant, or any tenant’s plans orintentions to continue its occupancy of the subject property. FIG has not conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoeverregarding the accuracy or completeness of the information provided. Certain informationcontained in the documents provided constitutes forward looking statements and/or financialprojections. Due to various risks and uncertainties, actual events, results or actualperformance may differ materially from those reflected or contemplated in such forward-looking forecasts. There can be no assurance that any returns or projections included hereincan be realized, that forward-looking statements will materialize or that actual returns andresults will not be materially lower than any presented in the documents provided. Any priorinvestment results or returns are presented for illustrative purposes only and are not indicativeof the future returns of the issuers if the securities described herein. Past performance is not aguarantee of future results. Additionally, it is important to note that any investment may oftenhave tax consequences. FIG does not provide tax advice. The levels and bases of taxation canchange. Investors’ tax affairs are their own responsibility and investors should consult theirown attorneys and/or tax advisors in order to understand the tax consequences of anyproducts and services mentioned.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLYWITH ACCEPTED OFFER.DO NOT DISTURB TENANTS ©
14617 Gilmore Street, VanNuys, CA
jason flashmanLicense #01841976
BROKER OF RECORD
Santa Monica, CA 90405Brokerage #01499010
FLASHMAN Investment Group2701 Ocean Park Blvd #140,Santa Monica, CA 90405
3INVESTMENT DESCRIPTION
INVESTMENT DESCRIPTIONPROPERTY HIGHLIGHTS
house + 5 units
1 unit legally divided perfect for ADUconversion
Utilities already divided
House and 3 units vacant
Significant rental upside
Minimal deferred maintenance
First time on the market 15 years
Copper piping
NO property tours withoutaccepted offer
4PHOTOGRAPHY
5PHOTOGRAPHY
6PHOTOGRAPHY
7LOCATION
8property financial
pricing Analysis estimated operating expenses
annualized operating data loan information
Price $1,500,000
Down Payment 30.00% $450,000
No. of Units: 6
Cost Per Unit $250,000
Current GRM: 13.07
Current CAP 4.97%
Year Build/Age 1923
Approx. Lot Size 7,502
Approx. Gross Size 2,690
Cost Per Net RSF $557.62
Parking 5 spots
Zoning LARD1.5
Scheduled Gross Income $114,732
Scheduled Operating Income $114,732
Less Vacancy/Deduction 4.00% $4,589
Effective Gross Income $110,143
Less Expenses 31.08% $35,663
Net Operating Income $74,480
Debt Service $54,836
Net Cash Flow After Debt Service 4.37% $19,644
Principal Reduction $21,191
Total Return 9.07% $40,835
Real Estate Taxes 1.25% $18,750
Insurance $1,584
Utilities $5,100
Repairs & Maintenance $3,000
Landscaping $1,200
Management $4,589
Miscellaneous $720
Reserves $1,500
Total Expenses $36,443
Expenses Per Unit $6,074
Expenses Per Net SF $13.55
First Loan Amount: $1,050,000
Interest Rate: 3.25%
Paymemt: $54,836
DSCR: 1.36
The abovementioned financials are based on unaudited third-party data and performance information provided to FIG. Though believed to be accurate, FIG has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. Due to various risks and uncertainties, there can be no assurance as to any future-looking forecasts or current performance returns asserted in these financial statements.
9rent roll
Rent roll
Size Lease Timeline
Unit Number Size (SF) Current Rent Market Rent Rent/SF Start % Upside
house (vacant) $3,000.00 $3,000.00
1 $827.00 $1,200.00 45.10%
2a $1,200.00 $1,200.00 $1,200.00
3 $1,200.00 $1,200.00
4 $1,300.00 $1,300.00
5 $1,400.00 $1,400.00
6a
Unit mix
2+1
studio
studio joined (vacant)
studio (vacant)
studio (vacant)
studio (vacant)
studio joined $917.00 $1,200.00 30.86%
Total monthlyactual rent
$9,844.00
Other income$9,844.00
Monthly scheduledgross income
$9,844.00
Annualized scheduledgross income
$118,128.00
The 1BD+2BA+wet bar currently is split int two with one side being rented for $917
14617 Gilmore Street,Van Nuys, CA
jason flashmanLicense #01841976
BROKER OF RECORD
Santa Monica, CA 90405Brokerage #01499010
FLASHMAN Investment Group2701 Ocean Park Blvd #140,Santa Monica, CA 90405
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