2737 west view street - loopnet€¦ · investment description lyon stahl is pleased to present...
TRANSCRIPT
Matt Dunfrund | (310) [email protected] 2737 WEST VIEW STREET
2737 West View StreetLos Angeles, CA 90016
2737 West View Street
INVESTMENT SUMMARY
Investment Overview
Regional Map
AREA OVERVIEW
Local Map
City Overview
County Overview
Aerial Map
PROPERTY DESCRIPTION
Property Details
FINANCIALS
Offering Summary
Net Income Statment
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
Matt Dunfrund
310.367.9666
Lic. 01785161
2737 West View Street
Investment Summary
2737 West View StreetLos Angeles, California 90016
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
$879,000 3.18%
$27,945 18.89
3100%
1,917 SF$458.53
5,000 SF Fee Simple
Investment HighlightsInteresting Triplex Investment well-located at 2737 S. West●
View Street in the hot Jefferson Park/West Adams (90016)submarket.The property features a detached front 2+1 House and a rear●
duplex with two 1+1 units. There are 1,917 total rentable SF.Interesting owner-user investment if buyer wants to occupyhome & help pay their mortgage with two units' rental income.Current gross income of $3,877/mth; $46,524/yr... At the●
$879,000 asking price, the property is priced at:$293,000/unit; a 18.89 current GRM; a 3.28% current CAP,and $459/SF.5,000 SF lot zoned R2; Build two condos/townhomes in the●
future here with SFR's already selling for $1M locally
Investment DescriptionLyon Stahl is pleased to present this triplex listing at 2737 WestView Street, LA 90016. Featuring a front detached 2 Bedroom1 Bath Home currently renting for $1,681/mth, and then a rearduplex with two 1 Bedroom units rented for $1,187 &$1,009/mth. The current gross income is $3,877/mth;$46,524/year. At our $879,000 asking price, the property ispriced at: $293,000/unit; a 18.89 current GRM; a 3.28% currentCAP, and $459/SF. This property would also make a greatowner-user investment for a buyer looking to occupy the 2+1home & have two great rental units to help pay your mortgage.The property is conveniently located minutes from the 10Freeway, and only 0.6M from the La Brea/Expo Metro stationfor ease of commuting. Fantastic central Mid-City location justeast of La Brea between Adams & Jefferson Blvd, and only ashort trip to all the hip new restaurants, shops, and bars likeAlta; Highly Likely; Collins Fish Market; Taqueria Los Anaya,and the Cork Bar just to name a few local favs.
2737 West View Street
Investment Summary
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Regional Map
2737 West View Street
Area Overview
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Local Map
2737 West View Street
Area Overview
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Area OverviewCity Overview - Los Angeles
Los Angeles, is the largest city in the state of California. Thearea became US property in 1848, with
Los Angeles incorporated as a city in 1850. Initially, anattractive climate, the discovery of oil and the growth of thecitrus fruit industry brought people to the city in droves duringits first 100 years. With the presence of Lockheed and Douglasaerospace companies in the area during World War I, and theexpansion of the motion picture industry in the 1920s thepopulation exploded.
Today, Los Angeles is the nation’s largest manufacturing area,home to one of its busiest ports, the distribution hub of thewest coast and a gateway to Asia. Moreover, Los Angeles isthe entertainment capital of the world, with most of thecountry’s major motion picture, television and recorded musicoperations based there. The city’s exansive metropolitan areais the second-largest in the country, with over 14,000,000people spread over a land area the size of Maine. Thirty of LA’ssuburbs have populations of 80,000 or more. Los Angeles isvery diverse, with people from over 140 countries and thelargest Latin-American and Asian- American populations of anyUS city.
Los Angeles is well represented in major league sports, withmultiple teams in baseball (Los Angeles Dodgers and AnaheimAngels), basketball (NBA’s Los Angeles Lakers and Clippers,WNBA’s Los Angeles Spark) and and hockey (NHL’s LosAngeles Kings and Anaheim Mighty Ducks). Most recently, theNFL announced the relocation of the St. Louis Rams to LosAngeles. Los Angeles has hosted the Olympic Games and forten years the city has hosted the X Games. Outdoor recreationin the Los Angeles area is practically unmatchable. Beacheswith familiar names right out of Beach Boys songs offer watersports of all kinds. Some of the country’s best surfing is withinreach, from Malibu and Santa Monica to Huntington Beach,with its famous pier, surf shops and surfing walk of fame.Skateboarding, which originated in Los Angeles less than 50years ago, has never been more popular. In the winter, skiing isavailable within a manageable distance at Sierra Nevadamountain slopes.
Los Angeles is the largest city in the state of California and thesecond largest in the United States. Often abbreviated as L.A.and nicknamed The City of Angels, Los Angeles has anestimated population of 3.8 million and spans over 498.3square miles in Southern California. Additionally, the LosAngeles metropolitan area is home to nearly 12.9 millionresidents. Los Angeles is the seat of Los Angeles County, themost populated and one of the most diverse counties in theUnited States.
Los Angeles HighlightsHistorically high occupancy rates.●
Dramatic net absorption during recoveries.●
Extremely limited numbers of large blocks of available space.●
Significant increases in rental rates in strong economic times.●
County OverviewThe most heavily populated county in the country is LosAngeles County with approximately 9.9 million people,including about 1 million that live in unincorporated areas of thecounty. The metropolis - formed by the six neighboringcounties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 millionresidents. Los Angeles County is home to one of the mosteducated labor pools in the country and offers a labor force ofmore than 4.7 million, of which more than 1.5 million arecollege graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eightstates. According to the United States Conference of Mayors,Los Angeles County boasts a GDP among the twenty largest inthe world. Los Angeles County’s continued economic growth,in contrast to other areas of the state and nation, is due to itsdiversified economy and abundant, well-trained workforce.
Los Angeles County is well located on the Southern Coast ofthe California, and covers 4,061 square miles, including theSan Clemente and Santa Catalina islands. The County iscomprised of approximately 88 vibrant and diverse citieshosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has aGross Domestic Product (GDP) of approximately $446 billion -placing it among the top 20 economies in the world. Thecombined GDP of Los Angeles and its five surroundingneighboring counties places it in the top 10. California is
2737 West View Street
Area Overview
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
generally considered to be in the top five.
If Los Angeles County were its own nation, its economy wouldbe the 18th largest in the world. It is home to more than244,000 businesses, with more minority and women ownedbusinesses than any other in the nation and is the nation’s topinternational trade center and manufacturing center. LosAngeles is recognized worldwide as a leader in entertainment,health sciences, business services, aerospace and internationaltrade. Because the Los Angeles area is so large and diverse, ithas something to offer to everyone. While Hollywood and theLos Angeles beach culture are part of our collective image ofLos Angeles, the city also has more museums than any othercity and some of the best hotels in the world are located in LosAngeles.
Over the years, Los Angeles County has developed a diverseeconomic base, supported by a number of Fortune 500companies with headquarters in the area, including HiltonHotels, Walt Disney, Occidental Petroleum, DirecTV Group,Northrop Grumman, Computer Sciences, KB Home, Health Net,Mattel, and Avery Dennison. Key factors positively impactingthe region’s economic position include increased local mediaproduction by the entertainment industry and a continuingexpansion of import flows. Moreover, growth in aerospace,homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles'well educated labor pool, many universities, wonderful climate,and world class infrastructure will enable Greater Los Angelesto continue to be a world leader in economic and culturalsignificance.
County HighlightsLos 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 hasapproximately 200,000 small businesses, which is twice asmany small businesses as can be found in any other region ofthe 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.
2737 West View Street
Area Overview
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Aerial Map
2737 West View Street
Area Overview
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Numbers Page
2737 West View Street
Property Description
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Property DetailsAddress 2737 West View Street
Los Angeles, California90016
Square Footage 1,917 SFLand Area 5,000 SFYear Built 1923Assessors Parcel Number 5049-006-020
SiteZoning LAR2Number of Buildings 2Number of Stories 1Parking 1
ConstructionFoundation WoodFraming WoodExterior StuccoParking Surface Concrete
$879,000 1,917 SF
Fee Simple 5,000 SF
31
19231
100%
$293,000$458.53 3.18%4.80%18.89 14.36
$27,945$42,181
FinancialOffering SummaryPriceBuilding SizeOwnershipLand AreaNumber of UnitsNumber of StoriesYear BuiltParkingOccupancy
Price per UnitPrice per Square FootCurrent CAP RatePro Forma Cap RateCurrent GRMPro Forma GRMNOIPro Forma NOIFinancingLoan TypeLoan AmountDown PaymentInterest RateAmortization PeriodAnnual Payment
New/Proposed$439,500$439,500
4.50%30 Years$26,723
2737 West View Street
Financials
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Net Income Statement
CurrentAnnualIncome
Proforma AnnualIncome
REVENUESGross Potential Rent $46,524 $61,200Less: Current Vacancy 1,396 1,836
Effective Gross Income $45,128 $59,364
OPERATING EXPENSESReal Estate Taxes 10,988 10,988Insurance 1,200 1,200Utilities 2,400 2,400Repairs 1,396 1,396
TOTAL EXPENSES $17,183 $17,183
NET OPERATING INCOME $27,945 $42,181
Debt Service $26,723 $26,723NET CASH FLOW AFTER DEBT SERVICE $1,222 $15,458
Principal Reduction $7,090 $7,090TOTAL RETURN 1.89% 5.13%Expenses Per SF $8.96 $8.96% of EGI 38.08% 28.95%
2737 West View Street
Financials
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Unit Mix
Unit Info Occupancy Square Footage Current Monthly Rent Pro Forma Monthly Rent
Numberof Units
Unit Type Occ Vac %OccAverageUnit SF
Total UnitSF
AVG Low High TotalAVGPSF
AVG TotalAVGPSF
VacancyLoss
2 1BR 1 BTH 2 0 100.00% 600 1,200 $1,098 $1,009 $1,187 $2,196 $1.83 $1,400 $2,800 $2.33 $0
1 2BR 1 BTH 1 0 100.00% 717 717 $1,681 $1,681 $1,681 $1,681 $2.34 $2,300 $2,300 $3.21 $0
3 TOTALS 3 0 100.00% 1,917 SF $3,877 $4.17 $5,100 $5.54 $0
2737 West View Street
Comparables
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Sales Comparable Map
2737 West View Street
Comparables
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Sales Comparables
Photos Address
Sale PriceSale DateTotal UnitsPrice Per Unit
Total SF$/SFCAPGRM
Unit MixYear BuiltLand AreaDays on Market
2737 West View StreetLos Angeles, California90016
$879,000N/A3293,000
1,917 SF$4593.18 %18.89
(2) 1BR + 1BTH
(1) 2BR + 1BTH
19235,000 SFN/A
5417 Homeside AvenueLos AngelesL, California90016
$800,00011/07/20183$266,667
1,834 SF$4364.26 %15.66
(2) 2-Bedroom/1-Bath (1) 1-Bedroom/1-Bath
19244,800 SF53
2033 S. Ridgeley DriveLos Angeles, California90016
$1,075,18009/21/20183$358,393
2,256 SF$4774.88 %14.35
(3) 2-Bedroom/1-Bath19169,050 SF6
2536 Clyde AvenueLos Angeles, California90016
$815,00008/31/20183$271,667
1,852 SF$4404.64 %15.09
(3) 1-Bedroom/1-Bath19404,943 SF12
2000 S. Dunsmuir AvenueLos Angeles, California90016
$825,00004/11/20183$275,000
2,377 SF$3474.68 %14.95
(1) 1-Bedroom/1-Bath (1) 3-Bedroom/1-Bath (1) Studio Unit
19426,541 SF12
5073 W. 21st StreetLos Angeles, California90016
$876,50003/21/20183$292,167
2,064 SF$4253.40 %19.77
(1) 2-Bedroom/1-Bath(2) 1-Bedroom/1-Bath
19428,401 SF11
Averages
$878,336-3$292,779
2,077 SF$4254.37 %15.96
2737 West View Street
Comparables
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Rental Comparable Map
2737 West View Street
Comparables
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Rental Comparables
Photos AddressDate Surveyed
Total UnitsYear BuiltBldg SFOccupancy
Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF
2737 West View StreetLos Angeles, California90016
319231,917 SF100.00%
1 BR / 1 BTH2 BR / 1 BTH
600 SF717 SF
$1,098$1,681
$1.83$2.34
1948 S. Harcourt AvenueLos Angeles, California9001612/01/2018
4
-100%
2BR /1BTH 1,000 SF $2,400 $2.40
2749 S. Cochran AvenueLos Angeles, California9001612/01/2018
3
-100%
2BR /1BTH 900 SF $2,295 $2.55
2503 Vineyard AvenueLos Angeles, California9001612/01/2018
2
-100%
2BR /1BTH 784 SF $2,295 $2.93
3006 Chesapeake AvenueLos Angeles, California9001612/01/2018
2
-100%
2BR /1BTH 936 SF $2,300 $2.46
2905 S. La Brea AvenueLos Angeles, California9001612/01/2018
5
-100%
2BR /1BTH 936 SF $2,300 $2.46
4616 Rodeo RoadLos Angeles, California9001612/02/2018
3
-100%
1BR /1BTH 650 SF $1,595 $2.45
2513 West BlvdLos Angeles, California9001612/02/2018
4
-100%
1BR /1BTH 620 SF $1,900 $3.06
2737 West View Street
Comparables
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Photos AddressDate Surveyed
Total UnitsYear BuiltBldg SFOccupancy
Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF
3406 Virginia RoadLos Angeles, California9001612/02/2018
3
-100%
1BR /1BTH 600 SF $1,499 $2.50
5348 Smiley DriveLos Angeles, California9001612/02/2018
2
-100%
1BR /1BTH 500 SF $1,695 $3.39
2235 S. Cochran AvenueLos Angeles, California9001612/02/2018
6
-100%
1BR /1BTH 593 SF $1,700 $2.87
Averages -100% 752 SF $ 1,998 $ 2.71
2737 West View Street
Comparables
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
On Market Comparable Map
2737 West View Street
Comparables
2737 West View StreetLos Angeles, California 90016
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
On Market Comparables
Photos AddressSale PriceTotal UnitsPrice Per Unit
Total SF$/SFCAPGRM
Unit Mix Year BuiltLand Area
2737 West View StreetLos Angeles, California90016
$879,0003$ 293,000
1,917 SF$4593.18 %18.89
(2) 1BR + 1BTH(1) 2BR + 1BTH
19235,000 SF
3539 Chesapeake AvenueLos Angeles, California90016
$1,050,0003$350,000
2,212 SF$4753.84 %18.23
(1) 1-Bedroom/1-Bath (2) 2-Bedroom/1-Bath
19446,259 SF
2449 S. Burnside AvenueLos Angeles, California90016
$899,9503$299,983
2,322 SF$3883.80 %18.69
19405,846 SF
2912 S. Redondo BlvdLos Angeles, California90016
$830,0003$276,667
2,400 SF$3464.00 %17.51
19476,900 SF
Averages$926,6503$308,883
2,311 SF$4033.88 %18.14
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
Matt Dunfrund
310.367.9666
Lic. 01785161