MARKETING PRESENTATION OFFERING HIGHLIGHTS Prime location! 2 Blocks North of The Grove 4 Unit Spanish-style architecture built in 1927 Two renovated units delivered vacant shortly after close of escrow Every unit has washer/dryer hook ups Approximately 44% upside in rents! Four private garages, parking for up to six cars or storage income Beautiful patios in front and on 2nd-floor, lush landscaping All 2+1 units average 1,300 with natural light, 1920 s charm Price reduced an additional $245,000 to $1,950,000 425 N. Stanley Avenue ~ Los Angeles, CA 90036 PRESENTED BY: Prosser Stevens Real Estate Investments 2701 Ocean Park Blvd. Suite 140, Santa Monica, CA 90405 310.482.2209 properties@prosserstevens.com
CONTENTS PROPERTY INFORMATION Listing Summary Property Location Photography Financial Overview Rent Roll COMPARABLES Sales Comparables Rent Comparables CONTACT Max Delbecq BRE# 01964069 310-774-3769 office 310-861-1175 fax Max@ProsserStevens.com Prosser Stevens Real Estate Investments
SUMMARY DESCRIPTION Units 4 Square Footage 5,283 Cross Street Oakwood Avenue Lot Size 6,354 Market Fairfax Tax Parcel 5527-026-012 Year Built 1927 Zoning Type LAR1.5 Parking Garage Utilities Separately metered Buildings (1) 2-story HIGHLIGHTS Property Area Prosser Stevens Real Estate Investments proudly announces the exclusive listing of 425 N. Stanley Avenue. The property features a Spanish-style, four-unit building circa 1927. Beautiful patios and lush landscaping create great curb appeal while the large 2+1 units offer lots of natural light and 1920 s charm. Every unit has washer/dryer hook ups and there are four private garages. Two renovated units will be delivered vacant within 75 days. Approximately 44% upside in rents! Located north of Beverly Blvd and east of Fairfax Ave, just two blocks north of The Grove. Walking distance to LACMA, La Brea Tar Pits, Beverly Center and shops on Melrose.
FINANCIAL SUMMARY Asking Price: $1,950,000 Year Built: 1927 Down Payment: 55% $1,072,500 Approx. Lot Size: 6,354 Number of Units: 4 Approx. Bldg. Sq. Ft. 5,283 Price Per Unit: $487,500 Price per Sq. Ft. $369 Current GRM: 19.82 Current CAP: 2.97% Market GRM: 13.10 Market CAP: 5.48% Proposed Financing: $877,500 Zoning: LARD1.5 3.60% fixed for 5 yrs. Pmt = -$3,990 per month -$3,989.51 -$47,874 per year ANNUALIZED FINANCIALS: INCOME/UNIT MIX: Current Rents Market Rents Scheduled Gross Income: $98,400 $148,800 Vacancy Allowance: $2,952 3% $4,464 3% Gross Operating Income: $95,448 $144,336 Less Expenses: $37,496 38% $37,496 25% Net Operating Income: $57,952 DCR = $106,840 DCR = Less Loan Payment: -$47,874 1.21 -$47,874 2.23 Pre-Tax Cash Flow: $10,078 0.94% $58,966 5.50% Plus Principal Reduction: $16,556 $16,556 Total Return Before Taxes: $26,633 2.48% $75,521 7.04% EXPENSES: Taxes (new): 1.25% $24,375 Current Rents Market Rents No. of Bdrms/ Avg. Monthly Monthly Avg. Monthly Monthly Insurance: $2,113 Units Baths Rent/Unit Income Rent/Unit Income Utilities: $3,120 4 2+1 $2,050 $8,200 $2,950 $11,800 Repairs/Maintenance: $6,888 $0 $0 Professional Mgmt (5%): n/a $0 $0 On-site Manager: n/a $0 $0 Reserves/Misc: $1,000 EXPENSES ARE ESTIMATED Total Scheduled Rent: $8,200 $11,800 Laundry Income: $0 $0 Other Income (Parking): $0 $600 Monthly Scheduled Gross Income: $8,200 $12,400 Total Expenses: $37,496 Annual Scheduled Gross Income: $98,400 $148,800 Per Sq. Ft: $7.10 Per Unit: $9,374
RENT ROLL RENT ROLL AS OF: 11/9/2015 Current Market Approx. Unit # Unit Type Rent Rent Move-in Date Size (sf) Notes 1 2+1 $ 1,750 $ 2,950 2 2+1 $ 550 $ 2,950 3 2+1 $ 2,950 $ 2,950 Delivered vacant within 60-75 days of CoE 4 2+1 $ 2,950 $ 2,950 Delivered vacant within 60-75 days of CoE PARKING: $ 300 $ 600 LAUNDRY INCOME: $ - $ - MONTHLY TOTAL: $8,500 $12,400 - ANNUAL TOTAL: $102,000 $148,800
SOLD COMPARABLES 425 N Stanley Ave 325 N Stanley Ave
SOLD COMPARABLES SUBJECT PROPERTY: 425 N. Stanley Avenue On Market: 8/29/2015 Year Built: 1927 Unit Mix: (4) 2+1 LISTED UNITS BLDG S.F. PRICE/S.F. PRICE/UNIT CAP GRM $2,400,000 4 5,283 $454 $600,000 1.44% 28.36 8135 Norton Avenue Sold: 8/1/2014 Year Built: 1937 Unit Mix: (1) 3+1, (5) 2+1 SOLD UNITS BLDG S.F. PRICE/S.F. PRICE/UNIT CAP GRM $5,300,000 6 8,410 $630 $883,333 4.25% 14.30 328 N. Oakhurst Drive Sold: 11/25/2014 Year Built: 1939 Unit Mix: (2) 3+1, (2) 2+1, (2) 1+1 SOLD UNITS BLDG S.F. PRICE/S.F. PRICE/UNIT CAP GRM $4,350,000 6 6,760 $643 $725,000 2.69% 20.00 175 N. Sycamore Avenue Sold: 1/29/2015 Year Built: 1927 Unit Mix: (2) 3+1, (2) 2+1 SOLD UNITS BLDG S.F. PRICE/S.F. PRICE/UNIT CAP GRM $2,715,000 4 7,076 $384 $678,750 221 S. Tower Drive Sold: 6/5/2015 Year Built: 1928 Unit Mix: (4) 2+1 SOLD UNITS BLDG S.F. PRICE/S.F. PRICE/UNIT CAP GRM $2,475,000 4 5,061 $489 $618,750 2.87% 19.80 325 N. Stanley Avenue Sold: 5/7/2014 Year Built: 1928 Unit Mix: (4) 2+1 SOLD UNITS BLDG S.F. PRICE/S.F. PRICE/UNIT CAP GRM $2,000,025 4 5,347 $372 $500,006
RENT COMPARABLES 425 N Stanley Ave 325 N Genesee Ave Address Type Sq.Ft. Rent Amenitites hardwood floors, 1-car parking, 449 N Spaulding Ave 2+1 1200 $ 2,850 ceiling fans, washer/dryer hookups hardwood floors, 1-car parking, 325 N Genesee Ave 2+2 1200' $ 2,995 crown molding, granite counter tops, on-site laundry 327 N Stanley Ave 2+2 1250' $ 2,795 hardwood floors, granite countertops, in-unit washer/dryer, stainless steel appliances 439 N Genesee Ave 2+1 1100' $ 2,795 hardwood floors, large closets, air conditioner
CONTACT Max Delbecq BRE# 01964069 310-774-3769 office 310-861-1175 fax Max@ProsserStevens.com Prosser Stevens Real Estate Investments www.prosserstevens.com