Fulton Avenue - PDF Free Download

6617-6623 Fulton Avenue,, CA 91401 Approximately 10% Rental Upside Two Contiguous Lots Separately Metered for Gas and Electricity Ample Parking Mostly 2 Bedroom Units Henry Garcia Commercial Broker (818) 432-1690 hgarcia@gotoproperties.net DRE# 01303784 4061 Laurel Canyon Blvd. Studio City, CA 91604 818-432-1500 (p) 818-432-1501 (f) www.kwcommercial.com

6617-6623 Fulton Avenue, CA 91401 PROPERTY DESCRIPTION 20 Units in Located in, are two-story apartment buildings with two separate APN's. Built in 1963, each building offers an identical unit mix of 10 units each (20 total); 2 One-Bedrooms, 6 Two-Bedroom One Bath, and 2 Two-Bedroom Two Bath per building. In addition, the complex has 20 covered parking spots in both the front and rear of both buildings. Each unit is separately metered for gas and electricity. On-site laundry also adds additional income. This property is in a solid location adjacent to North Hollywood. The property is off of the Hollywood Freeway (101) and within close proximity to the Golden State Freeway (5) and the Ventura Freeway (134). The complex is also conveniently located close to busy streets with many shops, restaurants, and bus stops. is a great opportunity for long-term cash flow. All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. p. 2

6617-6623 Fulton Avenue, CA 91401 PROPERTY PHOTOS 20 Units in 6617 and 6623 Fulton Both Buildings Parking in Rear of Building Carport in Front of Building View of Staircases 6617 Fulton All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. p. 3

6617-6623 Fulton Avenue, CA 91401 MAPS AND AERIALS 20 Units in All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. Aerial p. 4

Keller Williams Commercial Site Address: Price: $3,240,000 6617-6623 Fulton, CA Units: 20 Investment Highlights: Age: 1963 Solid Location Beautiful Courtyard Building Two Contiguous Lots Lot Size: 19,133 Net RSF: 16,462 Down: $972,000 30% Mostly 2 bedroom units CAP GRM $/Unit $/Net RSF Mrk. CAP Mrk. GRM 5.3% 11.29 $162,000 $197 6.1% 10.3 Proposed Financing Projected Annualized Operating Data Projected Expenses Taxes: $40,500 1st. T.D. $2,268,000 Actual Market Insurance: $5,000 4.00% Gross Scheduled Income: $286,908 $313,200 Utilities: $18,000 Terms: 70% LTV @ 4.0% Vacancy Rate Reserve: $8,427 3% $9,216 3% Maintenance: $11,476 Principal & Interest Gross Operating Income: $278,481 $303,984 Payroll: $11,400 Less Expenses: $106,308 38% $106,308 35% Off-Site Mgr: $12,532 Net Operating Income: $172,173 $197,676 Landscaping: $1,200 Second: N/A Less Loan Payments: ($129,933) ($129,933) Rubbish: $3,200 Interest: N/A Misc/Reserves: $3,000 Terms: N/A Pre-Tax Cash Flow: $42,239 $67,743 Return Before Taxes: $42,239 4.3% $67,743 7.0% Investment Features: Separately metered for gas & electricity Parking Total : $106,308 Per NetRSF: $6.46 Per Unit: $5,315 Scheduled Income Actual Income Market Income No. Bdrms/ Avg./Monthly Monthly Avg./Monthly Monthly of Units Baths Rent/Unit Income Rent/Unit Income 4 1+1 $ 1,003 $4,012 $1,150 $4,600 12 2+1 $ 1,233 $14,796 $1,300 $15,600 The information contained on this 4 2+2 $ 1,150 $4,601 $1,350 $5,400 page has been obtained from sources we believe to be reliable, Total Scheduled Rent: $23,409 $25,600 however, we cannot accept Laundry/Other: $500 $500 responsibility for its correctness. Monthly Scheduled Gross Income: $23,909 $26,100 Annual Scheduled Gross Income: $286,908 $313,200 Keller Williams Commercial 4061 Laurel Canyon Blvd Studio City, CA 91604 Henry Garcia (818) 432-1690 CalBRE#01303784

Unit Mix Report Unit # Unit Type Rent Notes 6617 Fulton Ave 1 1+1 $ 978.00 Section 8 2 1+1 $ 978.00 3 2+1 $ 1,236.00 4 2+1 $ 1,250.00 5 2+1 $ 1,375.00 6 2+1 $ 959.00 7 2+2 $ 1,210.00 8 2+1 $ 1,300.00 9 2+2 $ 1,300.00 10 2+1 $ 1,300.00 6623 Fulton Ave 1 1+1 $ 1,150.00 Section 8 2 1+1 $ 904.00 3 2+1 $ 1,236.00 4 2+1 $ 1,250.00 5 2+1 $ 1,236.00 6 2+1 $ 1,223.00 7 2+2 $ 1,133.00 8 2+1 $ 1,081.00 9 2+2 $ 958.00 10 2+1 $ 1,350.00 Total Monthly Income: $ 23,407.00 Total Annual Income: $ 280,884.00

SALE COMPARABLES ADDRESS Yr Blt Units Sale Price $/Unit GRM CAP $/Sq.Ft COE COMMENTS 13530 Victory Blvd 1963 13 $ 1,875,000 $ 144,231 11.35 5.47% $ 190 3/28/2014 7(1+1) & 5(2+1) & 1(2+2) 6922 Hazeltine 1963 16 $ 2,550,000 $ 159,375 11.43 4.9% $ 191 5/13/2014 16(2+2) 12940 Burbank Blvd 1960 12 $ 2,475,000 $ 206,250 14.34 4.45% $ 179 1/31/2014 8(1+1) & 4(2+1) AVERAGE 1962 14 $ 2,300,000 $ 169,952 10.68 4.7% $ 187 SUBJECT 1963 20 $ 3,240,000 $ 162,000 11.29 5.3% $ 197 4(1+1) & 12(2+1) & 4(2+2) The information listed above has been obtained from sources we believe to be reliable, however, we cannot accept responsibility for its correctness.

RENT COMPARABLES ADDRESS YEAR BUILT # OF UNITS SQ.FT. RENT FOR (1+1) RENT FOR (2+1) RENT FOR (2+2) 6930 Fulton Ave 1962 20 13,752 $895.00 $1,150.00 6501 Fulton Ave 1963 12 9,956 $925.00 7100 Fulton Ave 1960 41 31,790 $888.00 $1,195.00 13562 Vanowen Street 1971 23 18,760 $925.00 6922 Hazeltine 1963 16 13,364 $1,350.00 Average 1964 22 17,524 $908.25 $1,195.00 $1,250.00 Subject 6617-6623 Fulton Ave 1963 20 16,462 $1,003.00 $1,233.00 $1,150.00