beverlywood, ca 90035 to beverly hills...beverlywood, ca 90035 beverlywood, california beverlywood...

14 LUXURY CONDOS JUST BLOCKS TO BEVERLY HILLS

9315 ALCOTT STREETBEVERLYWOOD, CA 90035

OFFERING MEMORANDUM

PRESENTED BY LOCATION OVERVIEWLocation OverviewProperty Location

PROPERTY SUMMARYProperty Details Property HighlightsPhotography

FINANCIALSFinancial Overview Rent Roll

COMPARABLESSales Comps Rent Comps

KENNY STEVENSBRE# 01090251

[email protected]

SHANA ROSTAMIBRE#01925317

[email protected]

www.prosserstevens.com | [email protected] | 310.963.7851449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

--------------------------------------9315 ALCOTT STREETBEVERLYWOOD, CA 90035

LOCATIONBEVERLYWOOD, CA --------------------------------------


BEVERLYWOOD, CALIFORNIA

Beverlywood offers a walkable neighborhood, blocks from Beverly Hills, a blossoming public transportation system that will soon be opening, and some of the best schools in Los Angeles. Century City, Culver City, Beverly Hills and more are just a short drive away, and the shops and restaurants on Pico Boulevard are well within walking distance.

With the Rancho Park Golf Course and the Hillcrest Country Club sitting to the west, there are plenty of nearby greens to conquer. The neighborhood's HOA owns and maintains many private parks in the neighborhood (such as Circle Park), which are gated and only accessible to Beverlywood residents.

Some of the highest rated schools situated in Beverlywood are, Castle Heights Elementary, Canfield Avenue Elementary, Shenandoah Street Elementary School, and Yeshiva of Los Angeles Girls High School. One of the other highlights and convenience of Beverlywood is the walkable distance to many nearby synagogues such as Young Israel of Century City, Pico Shul, Adas Torah, Beth Jacob Congregation, and Temple Emanuel of Beverly Hills.

It is the perfect neighborhood for families, as well as young professionals, with an increase in the past few years of people ages 25-35, moving into Beverlywood.

LOCATIONBEVERLYWOOD, CA

Purple Line Adding Value to Beverlywood’s Premium Rental Market


9315 ALCOTT STREET

LOCATIONOVERVIEW --------------------------------------


Cedars Sinai Medical Center

RestaurantsIl PastaioThe Ivy

Villa blancaMatsro’s Steakhouse

Toca MaderaGracias Madre

Il Cielo

Rodeo Drive

Roxbury Park

Rancho Park Golf Course

SchoolsCastle Heights Elementary,

Canfield Avenue Elementary, Shenandoah Street Elementary School,

and Yeshiva of Los Angeles Girls High School

Rodeo DriveSynagogues

Young Israel of Century CityPico Shul

Adas TorahBeth Jacob Congregation

Temple Emanuel of Beverly Hills

Beverly Hills

Hillcrest Country Club

La CienegaPark

9315 ALCOTT STREET

PROPERTY DESCRIPTIONBuilt in 2007, 9315 Alcott Street is comprised of 14 non rent control condominiums with separate APN numbers. Located just South of Pico Blvd, in the neighborhood of Beverlywood. The property is walking distance to a myriad of coffee shops, restaurants, and synagogues. The property features over 25,000 square feet of rentable area and is situated on a large 11,428 square foot lot. Comprised of (1) three-bedroom, three-bathroom unit, (12) three-bedroom, two and half-bathroom units, and (1) two-bedroom, two-bathroom unit. The building has been well maintained and includes a 1,500 sq. ft. gym / rec room on the ground floor with kitchen and bathroom. Two levels of subterranean parking for approximately 36 parking spots including guest parking.

**3rd bedrooms were added without permit

PROPERTY DETAILSUnits 14Major Intersection W. Pico Blvd and Alcott StMarket BeverlywoodAPN MultipleZoning Type LAR3Building SF 25,908 SFLot Size SF 11,428 SF

PROPERTY SUMMARY PROPERTY DETAILS

ALCOTT STREET

PICO BLVD


PROPERTY SUMMARY PROPERTY HIGHLIGHTS

14 LUXURY CONDOS IN BEVERLYWOOD • PRIME Beverlywood location just blocks from Beverly Hills• Non-rent control• Built in 2007• Individual condos with separate APN numbers • Bright spacious units average approximately 1,500 sf ft• 2 levels of subterranean parking (approx. 36 spaces including guest spots) • Ground floor has a gym/rec room with a kitchen, and bathroom, currently being used a meeting room• Penthouse units have panoramic views of Downtown and Century City


PROPERTY SUMMARY PROPERTY PHOTOS --------------------------------------


FINANCIALSFINANCIAL OVERVIEW - $16,150,000

INVESTMENT SUMMARY SCHEDULED INCOMEPurchase Price: $16,150,000 UNIT MIX CURRENT PRO FORMADown Payment: $16,150,000 100% Units Beds Baths Average Monthly Rent MonthlyYear Built: 2007 1 3 3 $5,000 $5,000 $6,250 $6,250Units: 14 12 3 2.5 $3,050-$3,795 $42,940 $4,500 $54,000Approx. Lot Size: 11,428 Sq. Ft. 1 2 2 $2,650 $2,650 $3,400 $3,400Approx. Bldg. NRSF: 25,908 Sq. Ft.Price per Unit: $1,153,571 Price per Sq. Ft. $623 $50,590 $63,650

CURRENT PRO FORMAGRM: 26.53 21.10 Laundry Income: $140 $140CAP: 1.91% 2.85% Monthly Gross Income: $50,730 $63,790

Annual Gross Income: $608,760 $765,480

ANNUAL INCOME ANNUAL EXPENSESCURRENT PRO FORMA AMOUNT

Scheduled Gross Income: $608,760 $765,480 $201,875Less Vacancy Reserve Rate: ($18,263) 3.00% * ($22,964) 3.00% $10,363Gross Operating Income: $590,497 $742,516 $15,545Less Expenses: ($282,753) 46% * ($282,753) 37% Repairs & Maintenance: $24,350Net Operating Income: $307,744 $459,762 Professional Mgmt: $23,620Less Debt Service: $0 $0 $7,000Pre-Tax Cash Flow: $307,744 1.91% ** $459,762 2.85%Plus Principal Reduction: $0 $0Total Return Before Taxes: $307,744 1.91% ** $459,762 2.85%

$282,753$10.91

$20,197

EXPENSES ARE ESTIMATED

Scheduled Rent:Storage Income:

Utilities:

ITEMTaxes: (based on new purchase price) 1.25%Insurance:

Misc:

Expense / NRSF:Expense / Unit:

* As a percent of the scheduled gross income. ** As a percent of the down payment Total Expenses:



Sheet1

INVESTMENT SUMMARYSCHEDULED INCOME

Purchase Price:$16,150,000UNIT MIXCURRENTPRO FORMA

Down Payment:$16,150,000100%UnitsBedsBathsAverageMonthlyRentMonthly

Year Built:2007133$5,000$5,000$6,250$6,250

Units:141232.5$3,050-$3,795$42,940$4,500$54,000

Approx. Lot Size:11,428Sq. Ft.122$2,650$2,650$3,400$3,400

Approx. Bldg. NRSF:25,908Sq. Ft.

Price per Unit:$1,153,571

Price per Sq. Ft.$623Scheduled Rent:$50,590$63,650

CURRENTPRO FORMAStorage Income:

GRM:26.5321.10Laundry Income:$140$140

CAP:1.91%2.85%Monthly Gross Income:$50,730$63,790

Annual Gross Income:$608,760$765,480

ANNUAL INCOMEANNUAL EXPENSES

CURRENTPRO FORMAITEMAMOUNT

Scheduled Gross Income:$608,760$765,480Taxes: (based on new purchase price) 1.25%$201,875

Less Vacancy Reserve Rate:($18,263)3.00%*($22,964)3.00%Insurance:$10,363

Gross Operating Income:$590,497$742,516Utilities:$15,545

Less Expenses:($282,753)46%*($282,753)37%Repairs & Maintenance:$24,350

Net Operating Income:$307,744$459,762Professional Mgmt:$23,620

Less Debt Service:$0$0Misc:$7,000

Pre-Tax Cash Flow:$307,7441.91%**$459,7622.85%

Plus Principal Reduction:$0$0EXPENSES ARE ESTIMATED

Total Return Before Taxes:$307,7441.91%**$459,7622.85%

* As a percent of the scheduled gross income. ** As a percent of the down paymentTotal Expenses:$282,753

Expense / NRSF:$10.91

Expense / Unit:$20,197

PROPOSED FINANCING INFORMATION

Proposed Financing `$0

Loan Rate4.45%fixed for 5 yrs$0per month

Loan Duration30yr

Sheet2

CurrentMarket

Unit #Unit TypeRentRentMove-in DateSize (sf)Notes

1013 + 2.5$3,700$4,5009/11/111,620

1022 + 2$2,650$3,4004/15/101,242

1033 + 2.5$3,500$4,5008/1/091,544

2013 + 2.5$3,600$4,50010/1/171,620

2023 + 2.5$3,700$4,50010/1/141,512

2033 + 2.5$3,795$4,5007/13/171,544

2043 + 2.5$3,500$4,5006/4/121,572

3013 + 2.5$3,600$4,5008/2/151,620

3023 + 2.5$3,550$4,50012/20/161,512

3033 + 2.5$3,595$4,5002/24/181,544

3043 + 2.5$3,650$4,5001/20/181,572

4013 + 3$5,000$6,2502/10/172,344

4023 + 2.5$3,600$4,5005/20/141,690

4033 + 2.5$3,150$4,5003/1/101,664

Laundry$140$140

MONTHLY TOTAL:$50,730$63,790

ANNUAL TOTAL:$608,760$765,480

FINANCIALSRENT ROLL

Current MarketUnit # Unit Type Rent Rent Move-in Date Size (sf) Notes

101 3 + 2.5 $3,700 $4,500 9/11/2011 1,620 **102 2 + 2 $2,650 $3,400 4/15/2010 1,242 103 3 + 2.5 $3,500 $4,500 8/1/2009 1,544 **201 3 + 2.5 $3,600 $4,500 10/1/2017 1,620 **202 3 + 2.5 $3,700 $4,500 10/1/2014 1,512 **203 3 + 2.5 $3,795 $4,500 7/13/2017 1,544 **204 3 + 2.5 $3,500 $4,500 6/4/2012 1,572 **301 3 + 2.5 $3,600 $4,500 8/2/2015 1,620 **302 3 + 2.5 $3,550 $4,500 12/20/2016 1,512 **303 3 + 2.5 $3,595 $4,500 2/24/2018 1,544 **304 3 + 2.5 $3,650 $4,500 1/20/2018 1,572 **401 3 + 3 $5,000 $6,250 2/10/2017 2,344 **402 3 + 2.5 $3,600 $4,500 5/20/2014 1,690 **403 3 + 2.5 $3,150 $4,500 3/1/2010 1,664 **

Laundry $140 $140

MONTHLY TOTAL: $50,730 $63,790

ANNUAL TOTAL: $608,760 $765,480



Sheet1

INVESTMENT SUMMARYSCHEDULED INCOME

Purchase Price:$16,150,000UNIT MIXCURRENTPRO FORMA

Down Payment:$16,150,000100%UnitsBedsBathsAverageMonthlyRentMonthly

Year Built:2007133$5,000$5,000$6,250$6,250

Units:141232.5$3,050-$3,795$42,940$4,500$54,000

Approx. Lot Size:11,428Sq. Ft.122$2,650$2,650$3,400$3,400

Approx. Bldg. NRSF:25,908Sq. Ft.

Price per Unit:$1,153,571

Price per Sq. Ft.$623Scheduled Rent:$50,590$63,650

CURRENTPRO FORMAStorage Income:

GRM:26.5321.10Laundry Income:$140$140

CAP:1.84%2.78%Monthly Gross Income:$50,730$63,790

Annual Gross Income:$608,760$765,480

ANNUAL INCOMEANNUAL EXPENSES

CURRENTPRO FORMAITEMAMOUNT

Scheduled Gross Income:$608,760$765,480Taxes: (based on new purchase price) 1.25%$201,875

Less Vacancy Reserve Rate:($18,263)3.00%*($22,964)3.00%Insurance:$10,363

Gross Operating Income:$590,497$742,516Utilities:$25,908

Less Expenses:($293,116)48%*($293,116)38%Repairs & Maintenance:$24,350

Net Operating Income:$297,381$449,399Professional Mgmt:$23,620

Less Debt Service:$0$0Misc:$7,000

Pre-Tax Cash Flow:$297,3811.84%**$449,3992.78%

Plus Principal Reduction:$0$0EXPENSES ARE ESTIMATED

Total Return Before Taxes:$297,3811.84%**$449,3992.78%

* As a percent of the scheduled gross income. ** As a percent of the down paymentTotal Expenses:$293,116

Expense / NRSF:$11.31

Expense / Unit:$20,937

PROPOSED FINANCING INFORMATION

Proposed Financing `$0

Loan Rate4.45%fixed for 5 yrs$0per month

Loan Duration30yr

Sheet2

CurrentMarket

Unit #Unit TypeRentRentMove-in DateSize (sf)Notes

1013 + 2.5$3,700$4,5009/11/111,620**

1022 + 2$2,650$3,4004/15/101,242

1033 + 2.5$3,500$4,5008/1/091,544**

2013 + 2.5$3,600$4,50010/1/171,620**

2023 + 2.5$3,700$4,50010/1/141,512**

2033 + 2.5$3,795$4,5007/13/171,544**

2043 + 2.5$3,500$4,5006/4/121,572**

3013 + 2.5$3,600$4,5008/2/151,620**

3023 + 2.5$3,550$4,50012/20/161,512**

3033 + 2.5$3,595$4,5002/24/181,544**

3043 + 2.5$3,650$4,5001/20/181,572**

4013 + 3$5,000$6,2502/10/172,344**

4023 + 2.5$3,600$4,5005/20/141,690**

4033 + 2.5$3,150$4,5003/1/101,664**

Laundry$140$140

MONTHLY TOTAL:$50,730$63,790

ANNUAL TOTAL:$608,760$765,480

COMPARABLESSALES COMPS

Property Photo Address Sale Price COE # ofUnitsPrice/Unit

Price/SF

YearBuilt Unit Mix Comments

9315 Alcott StBeverlywood, CA 90035 $16,150,000 - 14 $1,153,571 $623 2007

(1) 3+3(12) 3+2.5

(1) 2+2Subject Propety

11102 Rexford Dr #301 Los Angeles, CA 90035 $1,115,000 2/1/18 Condo $1,115,000 $699 2006 (1) 3+2

2 1135 Rexford Dr #401 Los Angeles, CA 90035 $1,309,000 12/20/17 Condo $1,309,000 $799 2005 (1) 2+3

3 8866 Alcott St #PH1 Los Angeles, CA 90035 $1,035,000 1/4/18 Condo$1,035,000 $675 2006 (1) 3+2


COMPARABLESSALES COMPS

Sales Comps1102 Rexford Dr1135 Rexford Dr8866 Alcott St

9315 Alcott Street

2

1

23

1

3


COMPARABLESRENTAL COMPS --------------------------------------


Property Photo Address Rent Unit Type Comments

9315 Alcott StreetBeverlywood, CA 90035

$6,250 3+3

Subject Property$4,500 3+2.5

$3,400 2+2

1 1500 S Beverly DriveLos Angeles, CA 90035 $5,995-$6,295 3+2.58 unit luxury condominium building with

tenant roof access. Built in 2018

2 1304 Roxbury Drive #203Los Angeles, CA 90067 $6,200 3+2.5 1,700 sq ft luxury unit.

3 1420 Ambassador StreetLos Angeles, CA 90035 $3,345-$4,295 2+2Granite counters, stainless steel appliances and fireplaces. Two resort style pools and spas, fitness center, outdoor lounge area.

COMPARABLESRENTAL COMPS

Rental Comps1500 S Beverly Drive1304 Roxbury Drive 1420 Ambassador Street

9315 Alcott Street

1

2

3

123



Kenny Stevens310.963.7851

[email protected]# 01090251

Shana Rostami310.963.0901

[email protected]# 01925317

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears

all risk for any inaccuracies.

BRE# 01931128

FOR MORE INFORMATION PLEASE CONTACT:

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