OFFERING SUMMARY The 2-4 Unit Specialists are pleased to present this gorgeous and ENORMOUS new construction fourplex in upscale Toluca Woods! Situated directly between Toluca Lake, NoHo Arts District and Burbank, this property is walking distance from the many neighborhood destinations in all 3 areas. In addition to having an unbeatable location, this fourplex offers countless other perks, including no rent control, a 5.65% cap rate, top-of-the-line construction, a 1 year builder s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters. 5126 Cahuenga is made up of two 3 bedroom, 3 bathroom units and two 3 bedroom, 2 bathroom units. The pro forma rents from these units range from $3,700-$3,950. The property boasts four garage parking spaces and four partially covered parking spaces. The units feature top of the line appliances, balconies with impressive views, high quality finishes, spacious floor plans and laundry hookups in unit. Our new construction properties usually enter escrow in 10 days or less, so get your offers in right away!
PROPERTY OVERVIEW THE PROPERTY: Address: 5126 Cahuenga Blvd, North Hollywood (Toluca Woods), CA 91601 APN: 2419-017-012 # Units: 4 # Buildings: 2 Year Built: 2018 (Completion Date Estimated to be December 2018) Building Size (SF): 5,996 Lot Size (SF): 6,001 Zoning: LARD1.5 THE OFFERING: List Price: $2,499,000 Cap Rate: 5.65% GRM: 13.57 Price Per Unit: $624,750 Price Per SF: $416.78 UTILITIES: Water: Separately Metered for Units (Tenant Pays)+ 1 House Meter for Common Area (Landlord Pays) Electric: Separately Metered for Units (Tenant Pays)+ 1 House Meter for Common Area (Landlord Pays) Gas: Separately Metered (Tenant Pays) AMENITIES: Stories: One Modern 2-Story Building and One Modern 3-Story Building Appliances: Top of the Line Stainless Steel Parking: 4 Garage Spots, 4 Partially Covered Spots Air/Heat: Central Landscaping: Drought Tolerant Additional: Balconies with Great Views!
INVESTMENT HIGHLIGHTS Exceptional 5.65% projected cap rate. Located in the amazing Toluca Woods area walking distance to NoHo Arts, Burbank and Toluca Lake! From the A+ area to the high return, this property fires on all cylinders. This is an ideal investment opportunity to grow your wealth! Enormous units! Total building size of 5,996 square feet! No rent control! Great way to obtain easy, passive income! All units separately metered for gas, electric AND water! Very low expenses. Luxurious units with top of the line appliances, balconies with impressive views, open floorplans and bright, cheerful design. Total attention to detail in the construction of this property. 8 parking spaces on site. Ideal for owner occupiers looking for an upscale living situation while bringing in a strong return! Tasteful drought tolerant landscaping.
LOCATION HIGHLIGHTS Located in the charming residential area bordering Toluca Lake known as Toluca Woods. The median list price of homes in this neighborhood is $1.18 million! 5126 Cahuenga s location offers buyers/tenants a balance between the convenience & excitement of nearby NoHo and the beauty & peace of the residential Toluca Woods/Toluca Lake area. Blocks from Lankershim & Magnolia, which is the core of the NoHo Arts District. Minutes on foot to an unlimited supply of restaurants, bars and shops including The Federal, El Tejano, Brick Yard Pub, Eclectic Café and The Republic of Pie. Also less than a mile from 24 Hour Fitness, Starbucks, Chipotle, Panera Bread, The Laemmle Theaters, Bank of America and many other convenient destinations. Walking distance to HIGHLY desirable Burbank and the many neighborhood destinations along Magnolia Blvd, including the extremely popular Porto s Bakery. Also minutes from Riverside Dr, the main hub of Toluca Lake, which is home to amazing restaurants and shopping!
LOCATION HIGHLIGHTS MAP Subject Property Nearby Attractions The Magnolia Grille (0.1 Miles) Poquito Mas (0.2 Miles) NoHo Arts District Restaurants (0.7 Miles) Aeirloom (0.9 Miles) Cascabel (1.0 Miles) Ralph s (0.4 Miles) Trader Joe s (1.3 Miles) Television Academy (0.9 Miles) North Hollywood Metro (1.1 Miles) North Hollywood Park (1.1 Miles) Porto s Bakery (1.0 Miles) Laemmle s NoHo 7 Theater (0.9 Miles) NoBar (0.1 Miles) Idle Hour (0.9 Miles) Brick Yard Pub (0.8 Miles)
FINANCIAL SUMMARY & RENT ROLL SUMMARIZED PRICING METRICS: BUILDING DESCRIPTION: FINANCING: Price: $2,499,000 No. of Units 4 Loan Amount $1,749,300 Down: 30% $749,700 Yr. Built 2018 Interest Rate 5.00% Current GRM: 13.57 Lot Size (acres) 0.14 Monthly Payment ($9,390.62) Pro Forma GRM: 13.57 Lot Size (sq. ft) 6,001 LTV 70% Current Cap Rate: 5.65% Bldg SF 5,996 Amortization (Years) 30 Pro Forma Cap Rate: 5.65% Zoning LARD1.5 Proposed/Assumption Proposed $/Unit: $624,750 Minimum DSCR 1.25 $/ SF: $416.78 RENT ROLL: UNIT # STATUS UNIT TYPE UNIT SIZE CURRENT RENT SCHEDULED GROSS INCOME CURRENT RENT PER SF PRO FORMA RENT PRO FORMA RENT PER SF LOSS-TO- LEASE 1 Vacant 3b/3b 1,596 $0 $3,950 $2.47 $3,950 $2.47 $0 2 Vacant 3b/3b 1,596 $0 $3,950 $2.47 $3,950 $2.47 $0 3 Vacant 3b/2b 1,430 $0 $3,750 $2.62 $3,750 $2.62 $0 4 Vacant 3b/2b 1,374 $0 $3,700 $2.69 $3,700 $2.69 $0 4 Totals/Averages: 5,996 $0 $15,350 $2.56 $15,350 $2.56 $0
FINANCIAL ANALYSIS # UNITS UNIT MIX % OF TOTAL SIZE AVG RENT AVERAGE RENT/SF MONTHLY INCOME AVG PRO FORMA RENT AVERAGE PRO FORMA RENT/SF PRO FORMA MONTHLY INCOME 2 3b/3b 50% 1,596 $3,950 $2.47 $7,900 $3,950 $2.47 $7,900 2 3b/2b 50% 1,402 $3,725 $2.66 $7,450 $3,725 $2.66 $7,450 4 Totals/Averages: 1,499 $3,838 $2.56 $15,350 $3,838 $2.56 $15,350 Gross Potential Income: $184,200 $184,200 ANNUALIZED OPERATING DATA: ANNUALIZED EXPENSES: CURRENT PRO FORMA CURRENT PRO FORMA Gross Potential Rental Income $184,200 $184,200 Fixed Expenses Gain (Loss)-to-Lease $0 $0 Real Estate Taxes 1.1960% $29,888 $29,888 Gross Scheduled Rental Income $184,200 $184,200 Insurance.33/s.f. $2,400 $2,400 Less: Vacancy 4.0% ($7,368) 4.0% ($7,368) Utilities $150/unit $600 $600 Effective Gross Income $176,832 $176,832 Less: Expenses ($35,688) ($35,688) Controllable Expenses Miscellaneous Other Income $0 $0 Contract Services $300/unit $1,200 $1,200 Net Operating Income $141,144 $141,144 Repairs & Maintenance $400/unit $1,600 $1,600 Debt Service ($112,687) ($112,687) Pre-Tax Cash Flow 3.80% $28,457 3.80% $28,457 TOTAL EXPENSES $35,688 $35,688 Principal Reduction $25,809 $25,809 EXPENSES/UNIT $8,922 $8,922 Total Return 7.24% $54,265 7.24% $54,265 EXPENSES/SF $5.95 $5.95 % of EGI 20.2% 20.2%
SALES COMPARABLES MAP Subject Property: 5126 Cahuenga 10925 Hesby 10706 Camarillo 10925 Hartsook 10824 Morrison
SALES COMPARABLES CHART # ADDRESS UNITS SALES PRICE $/ SF $/ UNIT CAP RATE GRM BLDG SF LOT SF CLOSE DATE YEAR BUILT 1 2 3 4 10925 Hesby, Toluca Lake Adjacent 10706 Camarillo, Toluca Lake 10930 Hartsook, Toluca Lake Adjacent 10824 Morrison, Toluca Lake Adjacent 4 $2,630,000 $499.62 $657,500 5.06% 14.86 5,264 5,804 9/20/18 2018 4 $2,555,000 $464.71 $638,750 5.30% 14.68 5,498 5,398 9/6/17 2017 4 $2,500,000 $497.22 $625,000 5.25% 14.27 5,028 6,751 11/6/18 2018 4 $2,300,000 $499.57 $575,000 5.21% 14.61 4,604 6,600 7/18/18 2018 AVERAGE: 4 $2,496,250 $489.60 $624,063 5.21% 14.61 5,099 6,138 5126 Cahuenga, Toluca Woods: 4 $2,499,000 $416.78 $624,750 5.65% 13.57 5,996 6,001 2018
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