NEW CONSTRUCTION FOUR UNIT - COFO ISSUED APRIL, 2019 125 N MOUNTAIN VIEW AVE, LOS ANGELES, CA 90026 $2,099,000 SETH HAMILTON 714.397.6077 Seth@StreetlampPartners.com BRE# 01897619 Streetlamp Partners, LLC. is a managing partner in this development. All marketing information provided by Citivest Realty Services, BRE #01020312. - 5.41% CAP RATE - 13.6 GRM - NO RENT CONTROL
THE OFFERING Streetlamp Partners are pleased to present another new construction four-unit property. 125 N Mountain View is in the Echo Park Neighborhood, which is adjacent to Silverlake, Koreatown, and Westlake and only a few minutes drive from Downtown. This area just south of the 101 Fwy has seen a dramatic change in the last two years, with the addition of many new coffee shops, restaurants, bars and new construction housing. As is with all of our properties, 125 N Mountain View is a warrantied and Green Certified building offering the investor a trouble-free and low-maintenance investment. The tenants will enjoy private and spacious living in townhome style units with only one common wall, private laundry rooms in each unit, and motorized security gated parking. All units are separately metered for electricity, water, and gas. The common areas utilize a landlord s fifth water and power meter servicing water-efficient landscape and LED exterior lighting. Certificate of occupancy has been issued as of April, 2019. Please feel free to reach out to us with any questions regarding this opportunity.
TABLE OF CONTENTS 01T H E O F F E R I N G 4 Property Overview 5 Property Details 6 Rent Roll 09 S I T E P L A N S 10 Floor Plans 14 THE NEIGHBORHOOD 16 Area Map 17 Neighborhood 18 Attractions 19 Contact
PROPERTY OVERVIEW APN: 5157-021-047 # of Units: 4 Year Built: 2018 Gross Living Area (GLA): 4,670 Gross Building Area (GBA): 5,298 Lot Size (SF): 4,605 Zoning: R4-1 List Price: $2,099,000 Annual Gross Rent Income: $154,200 Net Operating Income: $113,460 GRM: 13.6 Cap Rate: 5.41% Price per SF (GBA): $396 Price per SF (GLA): $499 Price per Unit: $524,750 Covered Parking: 4 Uncovered Parking: 4 Laundry: Private Each Unit Tenant Meters (water/gas/electric) 4 Owner/Common Meters: 1 (water/electric) Floors: 3 4
PROPERTY DETAILS OFFERING MEMORANDUM - 125 N MOUNTIAN VIEW AVE SUMMARIZED PRICING METRICS BUILDING DESCRIPTION PROPOSED FINANCING PRICE: $2,099,000 NO. OF UNITS: 4 LOAN AMOUNT: $1,259,400 DOWN (40%): $839,600 YR. BUILT: 2019 INTEREST RATE 4.50% PRO FORMA GRM: 13.6 GROSS LIVING AREA: 4,670 MONTHLY PAYMENT $6,381 PRO FORMA CAP RATE: 5.41% GROSS BUILDING AREA: 5,298 LTV 60% $/UNIT: $524,750 ZONING: R4-1 AMORTIZATION (YEARS) 30 $/SF (GBA): $396.19 LOT SIZE (SQ FT): 4,605 DSCR 1.48 $/SF (GLA): $449.46 ANNUALIZED OPERATING DATA PRO FORMA GROSS ACTUAL RENTAL INCOME $154,200 GAIN (LOSS)-TO-LEASE $0 GROSS SCHEDULED RENTAL INCOME $154,200 LESS: VACANCY 3% -$4,626 EFFECTIVE GROSS INCOME $149,574 LESS: EXPENSES $35,113.56 MISCELLANEOUS INCOME $0 NET OPERATING INCOME $114,460.44 DEBT SERVICE -$76,574.34 PRE-TAX CASH FLOW 4.5% $37,886.10 PRINCIPAL REDUCTION $19,901.34 TOTAL RETURN 6.88% $57,787.44 ANNUALIZED EXPENSES PRO FORMA FIXED EXPENSES REAL ESTATE TAXES 1.19% $24,978 INSURANCE $0.35 SQ FT $1,635 UTILITIES $918 CONTROLLABLE EXPENSES MANAGEMENT 4.00% $5,983 REPAIRS & MAINTENANCE $400/UNIT $1,600 TOTAL EXPENSES $35,114 EXPENSES/UNIT $8,778 EXPENSES/SQ FT $17.39 % OF EGI 23.5% 5
RENT ROLL OFFERING MEMORANDUM - 125 N MOUNTIAN VIEW AVE PRICE / SCHEDULED GROSS # FLOORS / UNIT # STATUS UNIT TYPE UNIT SIZE SQ FT INCOME UNIT PARKING LAUNDRY 125 LISTED FOR LEASE 3 BED /3 BATH 1,188 $2.78 $3,300 3 2 COVERED PRIVATE 125 1/2 LISTED FOR LEASE 3 BED /2 BATH 1,114 $2.92 $3,250 3 2 UNCOVERED PRIVATE 127 1/2 LISTED FOR LEASE 3 BED /2.5 BATH 1,059 $3.02 $3,200 3 2 UNCOVERED PRIVATE 127 LISTED FOR LEASE 2 BED /2.5 BATH 1,309 $2.37 $3,100 3 2 COVERED PRIVATE 4 LISTED FOR LEASE 11 BEDS / 4,670 $2.77 $12,850 3 4 COVERED / 4 PRIVATE 12 BATH 4 UNCOVERED ROOM RENT COMPS ADDRESS STATUS UNIT TYPE YR. BUILT UNIT SIZE RENT $/SF LEASE DATE 333 BELMONT AVE ACTIVE 3 BED/2 BATH 2017 1,158 $4,600 $3.97 ACTIVE 333 BELMONT AVE ACTIVE 2 BED/2 BATH 2017 1,120 $3,350 $2.99 ACTIVE 3221 W TEMPLE ST ACTIVE 3 BED/2 BATH 2016 1,215 $3,899 $3.21 ACTIVE 3221 W TEMPLE ST ACTIVE 2 BED/2 BATH 2016 1,133 $3,299 $2.91 ACTIVE 136 S CORONADO LEASED 3 BED/2 BATH 1923 1,100 $3,100 $2.82 N/A 4529 LEXINGTON AVE LEASED 2 BED/2 BATH 2017 826 $2,700 $3.27 3/15/18 4529 1/2 LEXINGTON AVE LEASED 3 BED/2 BATH 2017 1,182 $3,400 $2.88 3/15/18 2020 W TEMPLE ST LEASED 3 BED/2 BATH 2002 1,108 $3,000 $2.71 12/17/18 138 N CARONDELET LEASED 3 BED/2 BATH 2017 1,251 $3,200 $2.56 8/10/18 147 1/2 ROSELAKE AVE LEASED 3 BED/2 BATH 2019 1,256 $3,400 $2.71 2/1/19 146 1/2 ROSEMONT AVE LEASED 3 BED/2 BATH 2019 1,133 $3,450 $3.05 2/1/19 27014 BELLEVUE AVE LEASED 2 BED/1 BATH 1958 760 $2,995 $3.94 1/16/19 1701 CLINTON ST #207 LEASED 2 BED/1 BATH 1973 760 $3,200 $4.21 10/16/18 COMPARABLE AVERAGE: 2001 1,077 $3,353 $3.12 SUBJECT PROPERTY: VACANT 2018 1,168 $3,213 $2.75 6
SALE COMPS OFFERING MEMORANDUM - 125 N MOUNTIAN VIEW AVE UNIT BED/ ADDRESS STATUS COUNT BATH COUNT YR. BUILT SQ FT PRICE GRM $/SF SALE DATE CAP RATE 244 N PARK VIEW ST SOLD 4 12 BED / 12 BATH 2018 5,442 $2,600,000 N/A $477.77 10/23/18 4.85% 2020 W TEMPLE ST SOLD 2 6 BED/ 4 BATH 2002 2,216 $1,050,000 N/A $473.83 6/19/18 1249 COLTON ST SOLD 2 6 BED/ 4 BATH 2007 2,696 $1,354,000 20.15 $502.23 6/19/18 3.72% 6413 LEXINGTON AVE SOLD 4 11 BED / 14 BATH 2018 6,106 $3,050,000 15.50 $499.51 7/19/18 4.84% 636 PARKMAN AVE SOLD 4 12 BED/14 BATH 2018 6,612 $3,400,000 15.81 $514.22 7/27/18 4.74% 648 N SERRANO AVE SOLD 4 12 BED / 12 BATH 2018 5,434 $2,565,000 N/A $472.03 10/23/18 6226 LEXINGTON AVE SOLD 4 11 BED / 13 BATH 2018 6,208 $2,995,000 N/A $482.44 4/9/19 407 N ARDMORE AVE PENDING 6 12 BED / 12 BATH 2018 6,153 $3,290,000 17.80 $534.70 PENDING 4.19% 2763 W 12TH ST PENDING 4 12 BED / 10 BATH 2018 5,280 $2,500,000 N/A $473.48 PENDING COMP AVERAGE: 2015 5,127 $2,533,778 17.32 $487 4.44% SUBJECT PROPERTY: VACANT 4 11 BEDS / 12 BATH 2019 4,670 $2,099,000 13.61 $449 SUBJECT PROPERTY VALUATION COMP $/SQ FT $486.92 COMP GRM 17.32 COMP CAP RATE 4.54% SUBJECT SQ FT 4,670 SUBJECT GROSS POTENTIAL RENT $154,200 SUBJECT NOI $113,460 SUGGESTED VALUE $2,273,997 SUGGESTED VALUE $2,670,118 SUGGESTED VALUE $2,500,444 7
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SITE PLAN 10
PLANS first floor plan 11
PLANS second floor plan 12
PLANS third floor plan 13
OFFERING MEMORANDUM -125 N MOUNTIAN VIEW AVE OPEN FLOOR PLANS PRIVATE LAYOUTS 14
QUALITY FINISHES LUXURY LIVING 15
OFFERING MEMORANDUM -125 N MOUNTAIN VIEW AVE GREEN CERTIFIED LOW MAINTENANCE 16
HOLLYWOOD AREA MAP OFFERING MEMORANDUM -125 N MOUNTAIN VIEW AVE 17
NEIGHBORHOOD Rikas Peruvian cuisine - 1.4 Miles The Park s Finest - 0.9 Miles Icy Rush- 0.7 Miles Kues Restaurant- 0.7 The Semi-Tropic 1.0 Miles El Prado - 0.9 Miles Bar Henry - 1.4 Miles 18
ATTRACTIONS 19
1242 N BEACHWOOD DR, LOS ANGELES, CA 90038 SETH HAMILTON 714.397.6077 Seth@StreetlampPartners.com 20 DRE: 01897619 OFF MARKET NEW CONSTRUCTION FOUR UNIT OFFERED AT: $3,425,000 APN: 5534.013.022 # of Units: 5 Year Built: 2018 Gross Living Area (GLA): 5,880 Gross Building Area (GBA): 7,233 Lot Size (SF): 6,752 Zoning: R3-1 List Price: $3,425,000 Annual Gross Rental Income $232,200 Net Operating Income $170,261 GRM: 14.8 Cap Rate: 4.97% Price per SF: $497.6 Price per Unit: $719,800 Covered Parking: 8 Uncovered Parking: 1 Laundry: Private Each Unit Tenant Meters (water/gas/electric) 6 Owner/Common Meters: 1 (water/electric) Floors: 3 Streetlamp Partners, LLC is a managing partner in this development. All marketing information provided by Citivest Realty Services, DRE #01020312. 4.97 % CAP RATE / 14.8 GRM MAY 2019 COMPLETION / NO RENT CONTROL
4271 ROSEWOOD AVENUE, LOS ANGELES, CA 90004 SETH HAMILTON 714.397.6077 Seth@StreetlampPartners.com DRE: 01897619 OFF MARKET NEW CONSTRUCTION FOUR UNIT OFFERED AT: $2,175,000 APN: 5520-009-027 # of Units: 4 Year Built: 2018 Gross Living Area (GLA): 4,504 Gross Building Area (GBA): 5,381 Lot Size (SF): 5,985 Zoning: R3-1 List Price: $2,175,000 Annual Gross Rent Income: $154,200 Net Operating Income: $111,439 GRM: 14.1 Cap Rate: 5.12% Price per SF (GBA): $404.20 Price per SF (GLA): $482.90 Price per Unit: $543,750 Covered Parking: 4 Uncovered Parking: 4 Laundry: Private Each Unit Tenant Meters (water/gas/electric): 4 Owner/Common Meters: 1 (water/gas/electric) Floors: 3 Streetlamp Partners, LLC is a managing partner in this development. All marketing information provided by Citivest Realty Services, DRE #01020312. 5.12% CAP RATE / 14.1 GRM MARCH 2019 COMPLETION
146 ROSEMONT AVE, LOS ANGELES, CA 90026 SETH HAMILTON 714.397.6077 Seth@StreetlampPartners.com DRE: 01897619 NEW CONSTRUCTION FOUR UNIT OFFERED AT: $3,399,000 APN: 5157-01-021 # of Units: 6 Year Built: 2018 Gross Living Area (GLA): 6,504 Gross Building Area (GBA): 8,547 Lot Size (SF): 7,520 Zoning: R3-1 List Price: $3,399,000 Annual Gross Rental Income $229,200 Net Operating Income $166,361 GRM: 14.8 Cap Rate: 4.83% Price per SF (GBA): $397.68 Price per SF (GLA): $522.60 Price per Unit: $566,500 Covered Parking: 7 Uncovered Parking: 4 Laundry: Private Each Unit Tenant Meters (water/gas/electric) 6 Owner/Common Meters: 1 (water/electric) Floors: 3 Streetlamp Partners, LLC is a managing partner in this development. All marketing information provided by Citivest Realty Services, DRE #01020312. 4.83 % CAP RATE / 14.8 GRM CONSTRUCTION COMPLETE
CONTACT INFO PLEASE VISIT: FOR MORE INFORMATION ON OUR UPCOMING PROPERTIES. Information Provided by: Seth Hamilton, BRE # 01897619 Citivest Realty Services, BRE # 01875823 2.5% Cooperating Broker Compensation The information contained herein is not a substitute for a thorough independent due diligence investigation. Owner/Developer/Agent are not qualified to discuss or advise on legal, accounting, or other matters outside of those permitted by state law. Owner/Developer/Agent have not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property. 714.397.6077 SETH@STREETLAMPPARTNERS.com