MARKETING PRESENTATION Spanish Style 4 Units Near The Grove Price Reduction $2,250,000 Building fully renovated in the last 10 years: new plumbing, new electrical, new central heating & A/C, washer and dryers in each unit One unit delivered Vacant 5 spaces of garage parking with remote openers Within walking distance to The Grove, museum square, shops on Melrose, and Wilshire transit corridor. High-demand rental area due to influx of industry professionals 449 N. Spaulding Ave. Los Angeles, CA 90036 Prosser Stevens Real Estate Investments Properties@ProsserStevens.com (310) 482-2209 www.prosserstevens.com
CONTENTS PROPERTY INFORMATION Summary Neighborhood Information Financial Overview Rent Roll COMPARABLES Sold & Rent Comparables CONTACT Max Delbecq BRE# 01964069 Prosser Stevens Real Estate Investments Max@ProsserStevens.com 310-774-3769 office www.prosserstevens.com 310-861-1175 fax
DESCRIPTION Units 4 Square Footage 5,676 Intersection Between Melrose and N. Fairfax Ave. Lot Size 6,424 Market The Grove Zoning Type RD1.5 HIGHLIGHTS Property Year Built 1928 PRICE REDUCTION! Prosser Stevens Real Estate Investments proudly presents an exclusive listing of 4 units near The Grove. The beautiful Spanish- style building was fully renovated in the last 10 years. The unit mix includes (4) 2+1.5 apartments. All units are separately metered for gas/electricity. One unit to be delivered vacant. There are 5 spaces of garage parking with remote openers in rear of building. Area Two blocks north of The Grove! Within walking distance to The Grove, Beverly Center, museum square, shops on Melrose, and Wilshire transit corridor. Near internationally-known neighborhoods like Beverly Hills, West Hollywood. Close to local destinations like The Farmers Market, Los Angeles County Museum of Art, Peterson Auto Museum, and Broad Museum. This is a high-demand rental area due to influx of industry professionals
NEIGHBORHOOD INFORMATION Area Overview City Overview - Los Angeles West Los Angeles area, commonly known as the Westside, is one of the most desirable areas in Los Angeles County with its diverse residential and commercial base. It was the first to recover in the post- recession period, and, more significantly, the first to experience large scale new commercial construction. The Westside office market is comprised of 48 million square feet the largest submarket in the LA basin, which consists of 12 distinct regional market totaling approximately 200 million square feet. It commands some of the most dynamic tenants in entertainment, technology, media, and business services. The Westside s employee base enjoys a variety of the nation s most affluent and culturally diverse communities including Beverly Hills, Bel-Air, Pacific Palisades, Manhattan Beach, Palos Verdes and Maliby as well as Marina Del Rey, Venice, Culver City, Hollywood, West Hollywood, Westwood, Santa Monica. As a result, companies in the area benefit from drawing employees from a broad geographic area and provide a wide variety of housing and communities from which to choose.
FINANCIAL ANALYSIS
RENT ROLL
SALES COMPARABLES MAP Subject Property: 449 N. Spaulding Ave SOLD Comp 1: 111 S Harper Ave SOLD Comp 2: 1001 Havenhurst Dr SOLD Comp 3: 857 N Hayworth Ave SOLD Comp 4: 429 N Hayworth Ave SOLD Comp 5: 1018 N Havenhurst Dr SOLD Comp 6: 419 N Sierra Bonita Ave SOLD Comp 7: 351 N Spaulding Ave
SALES COMPARABLES Sale Comp 1: 111 S Harper Ave SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE / UNIT GRM CAP $1,900,000 4 4,202 $452 $475,000 20.50 3.17% Year Built: 1936 Unit Mix: (4) 2+2 Closed on 8/26/2015 Sale Comp 2: 1001 Havenhurts Dr. SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE / UNIT GRM CAP $1,922,500 3 4,670 $434 $640,833 19.77 3.29% Year Built: 1925 Unit Mix: (1) 2+1.5, (2) 2+1 Closed on 8/14/2015 Sale Comp 3: 857 N Hayworth Ave SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE / UNIT GRM CAP $2,150,000 5 5,765 $373 $430,000 32.72 1.19% Year Built: 1925 Unit Mix: (1) 3+1, (4) 2+1 Closed on 8/17/2015
SALES COMPARABLES Sale Comp 4: 429 N Hayworth Ave SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE / UNIT GRM CAP $ 1,750,000 4 4,818 $363 $437,500 18.50 3.24 Year Built: 1938 Unit Mix: (2) 2+1, (2) 1+1 Closed: 07/10/2015 Sale Comp 5: 1018 N. Havenhurt Dr. SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE / UNIT GRM CAP $2,280,000 3 3,500 $657 $760,000 18.45 3.52 Year Built: 1923 Unit Mix: (2) 2+2, (1) 2+1 Closed: 09/18/2015 Sale Comp 6: 419 N. Sierra Bonita Ave. SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE / UNIT GRM CAP $1,775,000 4 5,588 $318 $443,750 17.30 3.76 Year Built: 1929 Unit Mix: (4) 2+1 Closed: 05/01/2015 Sale Comp 7: 351 N. Spaulding Ave SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE/UNIT GRM CAP $1,870,000 4 4,834 387 $467,500 19.06 3.41 Year Built: 1927 Unit Mix: (4) 2+1 Closed: 09/13/2015
RENT COMPARABLES Rent Comp 1: 455 N. Spaulding Ave RENT BED BATH DESCRIPTION $4,100 2 2 1,200 square feet, fully renovated, stainless appliances, granite counters, central air, on-site laundry, garage parking Rent Comp 2: 419 N Vista St. RENT BED BATH DESCRIPTION $3,850 2 1 1,278 square feet, fully renovated, stainless appliances, granite counters, central air, on-site laundry Rent Comp 3: 7417 Clinton St. RENT BED BATH DESCRIPTION $3,750 2 1 971 square feet, remodeled kitchen, central air Rent Comp 4: 458 N. Genesee Ave RENT BED BATH DESCRIPTION $2,508 2 1 2,508 square feet, Fully renovated, stainless appliances, granite counters, central air, on-site laundry, garage parking
CONTACT Max Delbecq BRE# 01964069 Prosser Stevens Real Estate Investments Max@ProsserStevens.com 310-774-3769 office 310-861-1175 fax Prosser Stevens Real Estate Investments www.prosserstevens.com