1457 w 84th place - loopnet...solid unit mix with a front duplex featuring two 2+1 units & then...

Lyon Stahl | (310) [email protected] | Lic. 01981597 1457 W 84TH PLACE

1457 W 84th PlaceLos Angeles, CA 90047

1457 W 84th Place

INVESTMENT SUMMARY

Investment Overview

Regional Map

AREA OVERVIEW

Local Map

City Overview

County Overview

Aerial Map

PROPERTY DESCRIPTION

Property Details

3D Map

FINANCIALS

Offering Summary

Net Income Statment

Rent Roll

Unit Mix

COMPARABLES

Sales Comparable Map

Sales Comparables

Rental Comparable Map

Rental Comparables

On Market Comparable Map

On Market Comparables

EXCLUSIVELY MARKETED BY :

Lyon Stahl Investment Real Estate

Lyon Stahl(310) 404-9072

[email protected]

Lic. 02039995

Matt Dunfrund310.367.9666

[email protected]

Lic. 01785161

Prepared For :


1457 W 84th Place

Investment Summary

1457 W 84th PlaceLos Angeles, California 90047

The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy. 3

Investment SummaryPrice $688,000Cap Rate 7.73%NOI $53,213.00GRM 9.56Units 3Occupancy 100.00%Building Size 2,363 SFPrice per Square Foot $291.16Land Area 6,713 Sq. FeetOwnership Fee Simple

Investment Highlights3 Unit Cash Cow with current gross income of $6,000/mth;●

$72,000/yr... Assuming 30% down, the property's currentcash flow is approx. $23,066/yr (an 11.18% current return)The owner has been very successfully renting both 2●

Bedroom units fully furnished as short-term rentals (typicalstays of 1-3 months) to corporate professionals from SpaceX;local South Bay aerospace companies, and pilots/airlineemployees etc from LAX & has been averaging rent of$2,500/mth for each unit.At the $688,000 asking price, the property is priced at:●

$229,333/unit; a 9.56 current GRM; a 7.73% current CAP,and $291/SF.Solid unit mix with a front duplex featuring two 2+1 units &●

then a detached 1+1 home with 2,363 total rentable SF on alarge 6,713 SF corner lot (zoned RD2)Fantastic rapidly appreciating location in the Gramercy Park●

section of LA (90047), located just east of Inglewood & only 2miles from the new Rams/Chargers Stadium; the Forum, and

massive new Hollywood Park redevelopment so rental ratesshould continue growing over the coming years.

Investment DescriptionLyon Stahl is pleased to present this well-located triplex at1457 W. 84th Place, LA 90047. Featuring a front duplex withtwo 2+1 units currently operating as short-term rentals for$2,500/mth each, and then there's a detached 1+1 homecurrently rented for $1,000/mth for a current gross income of$6,000/mth; $72,000/year. At our $688,000 asking price, theproperty is priced at: $229,333/unit; a 9.56 current GRM; a7.73% current CAP, and $291/SF. Assuming 30% down($206,400) & estimated operating expenses of $15,187/yr, thecurrent cash flow would be approx. $23,066/yr (an 11.18%return). This property would also make a great owner-userinvestment with the ability to occupy one of the 2+1 units &

1457 W 84th Place

Investment Summary



also have two great rental units to help pay your mortgage. Theproperty is conveniently located close to great parks like St.Andrews Recreation Center & Circle Park, and also only a shortdrive from La Salle Avenue Elementary & Bret Harte PrepMiddle School. There are a ton of national retailers locally aswell with: Ralphs; Chase Bank; Smart & Final; Superior Grocers,and a large Kaiser Permanente Hospital all only minutes away.

1457 W 84th Place

Investment Summary



Regional Map

1457 W 84th Place

Area Overview



Local Map

1457 W 84th Place

Area Overview



Area OverviewCity Overview - Los Angeles

Los Angeles, is the largest city in the state of California. Thearea became US property in 1848, with

Los Angeles incorporated as a city in 1850. Initially, anattractive climate, the discovery of oil and the growth of thecitrus fruit industry brought people to the city in droves duringits first 100 years. With the presence of Lockheed and Douglasaerospace companies in the area during World War I, and theexpansion of the motion picture industry in the 1920s thepopulation exploded.

Today, Los Angeles is the nation’s largest manufacturing area,home to one of its busiest ports, the distribution hub of thewest coast and a gateway to Asia. Moreover, Los Angeles isthe entertainment capital of the world, with most of thecountry’s major motion picture, television and recorded musicoperations based there. The city’s exansive metropolitan areais the second-largest in the country, with over 14,000,000people spread over a land area the size of Maine. Thirty of LA’ssuburbs have populations of 80,000 or more. Los Angeles isvery diverse, with people from over 140 countries and thelargest Latin-American and Asian- American populations of anyUS city.

Los Angeles is well represented in major league sports, withmultiple teams in baseball (Los Angeles Dodgers and AnaheimAngels), basketball (NBA’s Los Angeles Lakers and Clippers,WNBA’s Los Angeles Spark) and and hockey (NHL’s LosAngeles Kings and Anaheim Mighty Ducks). Most recently, theNFL announced the relocation of the St. Louis Rams to LosAngeles. Los Angeles has hosted the Olympic Games and forten years the city has hosted the X Games. Outdoor recreationin the Los Angeles area is practically unmatchable. Beacheswith familiar names right out of Beach Boys songs offer watersports of all kinds. Some of the country’s best surfing is withinreach, from Malibu and Santa Monica to Huntington Beach,with its famous pier, surf shops and surfing walk of fame.Skateboarding, which originated in Los Angeles less than 50years ago, has never been more popular. In the winter, skiing isavailable within a manageable distance at Sierra Nevadamountain slopes.

Los Angeles is the largest city in the state of California and thesecond largest in the United States. Often abbreviated as L.A.and nicknamed The City of Angels, Los Angeles has anestimated population of 3.8 million and spans over 498.3square miles in Southern California. Additionally, the LosAngeles metropolitan area is home to nearly 12.9 millionresidents. Los Angeles is the seat of Los Angeles County, themost populated and one of the most diverse counties in theUnited States.

Los Angeles HighlightsHistorically high occupancy rates.●

Dramatic net absorption during recoveries.●

Extremely limited numbers of large blocks of available space.●

Significant increases in rental rates in strong economic times.●

County Overview

The most heavily populated county in the country is LosAngeles County with approximately 9.9 million people,including about 1 million that live in unincorporated areas of thecounty. The metropolis - formed by the six neighboringcounties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 millionresidents. Los Angeles County is home to one of the mosteducated labor pools in the country and offers a labor force ofmore than 4.7 million, of which more than 1.5 million arecollege graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eightstates. According to the United States Conference of Mayors,Los Angeles County boasts a GDP among the twenty largest inthe world. Los Angeles County’s continued economic growth,in contrast to other areas of the state and nation, is due to itsdiversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast ofthe California, and covers 4,061 square miles, including theSan Clemente and Santa Catalina islands. The County iscomprised of approximately 88 vibrant and diverse citieshosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has aGross Domestic Product (GDP) of approximately $446 billion -placing it among the top 20 economies in the world. Thecombined GDP of Los Angeles and its five surrounding

1457 W 84th Place

Area Overview



neighboring counties places it in the top 10. California isgenerally considered to be in the top five.

If Los Angeles County were its own nation, its economy wouldbe the 18th largest in the world. It is home to more than244,000 businesses, with more minority and women ownedbusinesses than any other in the nation and is the nation’s topinternational trade center and manufacturing center. LosAngeles is recognized worldwide as a leader in entertainment,health sciences, business services, aerospace and internationaltrade. Because the Los Angeles area is so large and diverse, ithas something to offer to everyone. While Hollywood and theLos Angeles beach culture are part of our collective image ofLos Angeles, the city also has more museums than any othercity and some of the best hotels in the world are located in LosAngeles.

Over the years, Los Angeles County has developed a diverseeconomic base, supported by a number of Fortune 500companies with headquarters in the area, including HiltonHotels, Walt Disney, Occidental Petroleum, DirecTV Group,Northrop Grumman, Computer Sciences, KB Home, Health Net,Mattel, and Avery Dennison. Key factors positively impactingthe region’s economic position include increased local mediaproduction by the entertainment industry and a continuingexpansion of import flows. Moreover, growth in aerospace,homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles'well educated labor pool, many universities, wonderful climate,and world class infrastructure will enable Greater Los Angelesto continue to be a world leader in economic and culturalsignificance.

County HighlightsLos Angeles County is the world’s 18th largest economy.●

Los Angeles part of the "Tech Coast" and is regarded as the●

of the main entrepreneurial regions of the world. It hasapproximately 200,000 small businesses, which is twice asmany small businesses as can be found in any other region ofthe United States.If Los Angeles' five county area were a state, it would be the●

fourth largest in the United States.Los Angeles has more than 80 stage theaters and 300●

museums, more than any other U.S city.

1457 W 84th Place

Area Overview



Aerial Map

1457 W 84th Place

Property Description



Property DetailsAddress 1457 W 84th Place Los Angeles, California 90047 Square Footage 2,363 SFLand Area 6,713 Sq. FeetYear Built 1950Assessors Parcel Number 6034-021-024

SiteZoning RD2Number of Buildings 2Number of Stories 2Parking 6

ConstructionFoundation WoodFraming WoodExterior StuccoParking Surface Concrete

1457 W 84th Place

Financials



FinancialOffering SummaryPrice $688,000Building Size 2,363 SFOwnership Fee SimpleLand Area 6,713 Sq. FeetNumber of Units 3Number of Stories 2Year Built 1950Parking 6Occupancy 100.00% Price per Unit $229,333.33Price per Square Foot $291.16Current CAP Rate 7.73%Pro Forma Cap Rate 7.24%Current GRM 9.56Pro Forma GRM 10.06NOI $53,213Pro Forma NOI $49,793FinancingLoan Type New/ProposedLoan Amount $481,600Down Payment $206,400Interest Rate 4.75%Amortization Period 30 YearsAnnual Payment $30,147 Notes:Proposed new 5 Yr Fixed Rate Loan at a 4.75% interest rate

1457 W 84th Place

Financials



Net Income Statement

CurrentAnnualIncome

Proforma AnnualIncome

REVENUES Gross Potential Rent $72,000 $68,400 Less: Current Vacancy 3,600 3,420

Effective Gross Income $68,400 $64,980

OPERATING EXPENSES Real Estate Taxes 8,600 8,600 Insurance 827 827 Utilities 2,400 2,400 Repairs 2,160 2,160 Landscaping 1,200 1,200

TOTAL EXPENSES $15,187 $15,187

NET OPERATING INCOME $53,213 $49,793 Debt Service $30,147 $30,147 NET CASH FLOW AFTER DEBT SERVICE $23,066 $19,646 Principal Reduction $7,431 $7,431 TOTAL RETURN 14.78% 13.12% Expenses Per SF $6.43 $6.43% of EGI 22.20% 23.37%

1457 W 84th Place

Financials



Rent Roll

Unit Information Lease Rental Rates

Unit No Unit TypeApp. SquareFootage

Status Move In DateCurrentMonthly Rent

PSFPro FormaMonthly Rent

PSF Loss to Lease

BTH - Occupied -- -- ---- $ 0.00 - $ 0.00 - $ 0.00

BTH - Occupied -- -- ---- $ 0.00 - $ 0.00 - $ 0.00

2 Units TOTALS 0 Occ:2Vac:0 $0.00 $0.00 $0.00

1457 W 84th Place

Financials



Unit Mix

Unit Info Occupancy Square Footage Current Monthly Rent Pro Forma Monthly Rent

Numberof Units

Unit Type Occ Vac %OccAverageUnit SF

Total UnitSF

AVG Low High TotalAVGPSF

AVG TotalAVGPSF

VacancyLoss

2 2BR 1 BTH 2 0 100.00% 800 1,600 $2,500 $2,500 $2,500 $5,000 $3.13 $2,200 $4,400 $2.75 $0

1 1BR 1 BTH 1 0 100.00% 763 763 $1,000 $1,000 $1,000 $1,000 $1.31 $1,300 $1,300 $1.70 $0

3 TOTALS 3 0 100.00% 2,363 SF $6,000 $4.44 $5,700 $4.45 $0

1457 W 84th Place

Comparables



Sales Comparable Map

1457 W 84th Place

Comparables



Sales Comparables

Photos Address

Sale PriceSale DateTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit MixYear BuiltLand AreaDays on Market

1457 W 84th PlaceLos Angeles, California90047

$688,000N/A3229,333

2,363 SF$2917.73 %9.56

2 2BR + 1BTH

1 1BR + 1BTH

19506,713 SFN/A

-

-145 W. 82nd StreetLos Angeles, California90003

$585,00009/11/20183$195,000

2,492 SF$235-13.96

2 2+11 3+1

1964 69

-1059 W. 105th StreetLos Angeles, California90044

$735,00009/11/20183$245,000

2,350 SF$313-12.44

1 1+12 3+2

1957 23


$700,00008/07/20183$233,333

2,389 SF$293-15.35

3 2+11922 95

-1111 W. 93rd StreetLos Angeles, California90044

$655,00007/09/20183$218,333

2,751 SF$238-13.58

3 2+11926 252


$675,00005/02/20183$225,000

2,444 SF$276-14.24

1 1+12 2+1

1924 17

-9003 S. Budlong AvenueLos Angeles, California90044

$645,00004/03/20183$215,000

2,312 SF$279-12.50

3 2+11923 2

-1538 W. 103rd StreetLos Angeles, California90047

$720,00003/30/20183$240,000

2,775 SF$259-12.50

2 2+11 3+2

1935 48

1457 W 84th Place

Comparables



Photos Address

Sale PriceSale DateTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit MixYear BuiltLand AreaDays on Market

Averages

$673,571-3$224,524

2,502 SF$270-13.51

1457 W 84th Place

Comparables



Rental Comparable Map

1457 W 84th Place

Comparables



Rental Comparables

Photos AddressDate Surveyed

Total UnitsYear BuiltBldg SFOccupancy

Units Types Avg Unit SF Avg Unit Rent Avg Rent Per SF


319502,363 SF100.00%

2 BR / 1 BTH1 BR / 1 BTH

800 SF763 SF

$2,500$1,000

$3.13$1.31

-

1851 W 93rd StreetLos Angeles, California9004710/01/2018

- 1,200 SF-

2BR /1BTH 1,200 SF $2,900 $2.42

-

906 W 84th StreetLos Angeles, California9004409/15/2018

- --

2BR /1BTH 900 SF $1,800 $2.00

-

1649 W 84th StreetLos Angeles, California9004710/01/2018

- --

2BR /1BTH 1,000 SF $2,300 $2.30

-

1302 W 83rd StreetLos Angeles, California9004409/18/2018

- --

2BR /1BTH 900 SF $2,095 $2.33

-

8726 S. Hobart BlvdLos Angeles, California9004710/01/2018

- --

2BR /1BTH 950 SF $2,100 $2.21

-

1933 W 84th PlaceLos Angeles, California9004709/15/2018

- --

2BR /1BTH 1,100 SF $2,550 $2.32

Averages 1,200 SF- 1,008 SF $ 2,291 $ 2.26

1457 W 84th Place

Comparables



On Market Comparable Map

1457 W 84th Place

Comparables



On Market Comparables

Photos AddressSale PriceTotal UnitsPrice Per Unit

Total SF$/SFCAPGRM

Unit Mix Year BuiltLand Area


$688,0003$ 229,333

2,363 SF$2917.73 %9.56

2 2BR + 1BTH1 1BR + 1BTH

19506,713 SF

-

1731 Crenshaw BlvdLos Angeles, CA90019

$1,699,0004$424,750

3,374 SF$5044.04 %17.33

4 2+119477,045 SF

1012 S Sycamore AvenueLos Angeles, California90019

$1,690,0004$422,500

3,854 SF$4392.89 %24.24

2 1+12 2+1

19466,358 SF

Click to Name and Press Tab :

1820 Cimarron StreetLos Angeles, California90019

$1,495,0004$373,750

4,176 SF$3583.59 %19.53

4 2+119225,407 SF

1414 S Bronson AvenueLos Angeles, California90019

$1,299,0004$324,750

4,228 SF$3073.86 %18.12

4 2+119256,075 SF

Averages $1,545,7504$386,438

3,908 SF$4023.60 %19.81

CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should notbe made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property (“Property”). The information in this Memorandumhas been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limitedto the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmentalrequirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence orabsence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant or any tenant’s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all- inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information andan opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, marketconditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough duediligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/or to terminate discussions at any time with or without notice.The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’sobligations therein have been satisfied or waived.


Lyon Stahl Matt Dunfrund

(310) 404-9072

[email protected]

Lic. 02039995

1457 w 84th place - loopnet...solid unit mix with a front duplex featuring two 2+1 units & then...

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