MARKETING PRESENTATION OFFERING HIGHLIGHTS Prime location! Very short walk to The Grove 4 Unit Spanish-style architecture built in 1927 Two renovated units delivered vacant after close of escrow Every unit has washer/dryer hook ups Approximately 35% 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 to $2,195,000 425 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 HIGHLIGHTS Property Buildings (1) 2-story 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 35% upside in rents! Area 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: $2,195,000 Year Built: 1927 Down Payment: 100% $2,195,000 Approx. Lot Size: 6,354 Number of Units: 4 Approx. Bldg. Sq. Ft. 5,283 Price Per Unit: $548,750 Price per Sq. Ft. $415 Current GRM: 25.94 Current CAP: 1.94% Market GRM: 17.93 Market CAP: 3.61% Proposed Financing: $0 Zoning: LARD1.5 3.60% fixed for 5 yrs. Pmt = $0 per month $0.00 $0 per year ANNUALIZED FINANCIALS: INCOME/UNIT MIX: Current Rents Market Rents Scheduled Gross Income: $84,624 $122,400 Vacancy Allowance: $2,539 3% $3,672 3% Gross Operating Income: $82,085 $118,728 Less Expenses: $39,595 47% $39,595 32% Net Operating Income: $42,490 DCR = $79,133 DCR = Less Loan Payment: $0 #DIV/0! $0 #DIV/0! Pre-Tax Cash Flow: $42,490 1.94% $79,133 3.61% Plus Principal Reduction: $0 $0 Total Return Before Taxes: $42,490 1.94% $79,133 3.61% EXPENSES: Taxes (new): 1.25% $27,438 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 $1,763 $7,052 $2,400 $9,600 Repairs/Maintenance: $5,924 $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: $7,052 $9,600 Laundry Income: $0 $0 Other Income (Parking): $0 $600 Monthly Scheduled Gross Income: $7,052 $10,200 Total Expenses: $39,595 Annual Scheduled Gross Income: $84,624 $122,400 Per Sq. Ft: $7.49 Per Unit: $9,899
RENT ROLL RENT ROLL AS OF: 10/1/2015 Current Market Approx. Unit # Unit Type Rent Rent Move-in Date Size (sf) Notes 1 2+1 $ 1,700 $ 2,400 2 2+1 $ 550 $ 2,400 3 2+1 $ 2,400 $ 2,400 Delivered vacant within 60-75 days of CoE 4 2+1 $ 2,400 $ 2,400 Delivered vacant within 60-75 days of CoE PARKING: $ - $ 600 LAUNDRY INCOME: $ - $ - MONTHLY TOTAL: $7,050 $10,200 ANNUAL TOTAL: $84,600 $122,400
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 412 N Gardner St 2+1 1000' $ 2,395 hardwood floors, 1-car parking, ceiling fans, washer/dryer hookups 325 N Genesee Ave 2+2 1200' $ 2,995 hardwood floors, 1-car parking, 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 745 N Edinburgh Ave 2+2 1100' $ 2,495 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