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220 EAST VALENCIA AVENUE12 UNITS IN BURBANK
Offering Memorandum
NON-ENDORSEMENT & DISCLAIMER NOTICE
CONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by
the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of
Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to
establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has 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, the size and square footage of the
property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal
regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s
plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained
from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained
herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever
regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this
marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or
endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of
Marcus & Millichap, and is solely included for the purpose of providing tenant lessee
information about this listing to prospective customers.
ACTIVITY ID: Z0140094
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
220 EAST VALENCIA AVENUEB U R B A N K , C A 9 1 5 0 2
EXCLUSIVELY LISTED BY
O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A
WWW.MARCUSMILLICHAP.COM
YACINE LAKHOUALos Angeles
Cell 310.999.4465 Office 213.943.1783
[email protected] CA 01921881
ARMOND AIVAZYANLos Angeles
Cell 818.632.9542 Office 213.943.1846
[email protected] CA 01954384
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EXECUTIVE SUMMARYSECTION 1 Investment Overview • Investment Highlights
PROPERTY DESCRIPTIONSECTION 2 Property Details • Regional Map • Local Map
FINANCIAL ANALYSISSECTION 3 Rent Roll • Pricing Detail
TABLE OF CONTENTS
EXCLUSIVELY LISTED BY:
220 EAST VALENCIA AVENUEB U R B A N K , C A 9 1 5 0 2
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACTIVITY ID: Z0140094
12 UnitsIN BURBANK
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EXECUTIVESUMMARY
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OFFERING HIGHLIGHTS
220 East Valencia Avenue, Burbank, CA 91502
OFFERING PRICE
$3,000,000CAP RATE
4.77%
VITAL DATA
Price $3,000,000
Cap Price 4.77%
Price/SF $386.30
Gross Square Feet 7,766
Year Built 1928
220 EAST VALENCIA AVENUE1 2 U N I T S I N B U R B A N K
LOCATED IN THE HEART OF
BURBANK
LOCATED IN THE HEART OF
BURBANK
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INVESTMENT OVERVIEWMarcus & Millichap is pleased to present the opportunity to acquire 220 East
Valencia Avenue, a 12-unit, non-rent controlled apartment building located in the
heart of Burbank, California. The subject property consists of 7,766 square feet of
gross area, and is situated on a 7,044-square foot lot zoned BUR4. Built in 1928,
the property is 100 percent occupied and features four one-bedroom units and
eight studio units. The property also includes a separate parking garage structure,
which is generating additional parking space income. Recent improvements to the
roof and copper plumbing have been made to the subject property.
220 East Valencia Avenue offers tenants excellent proximity to some of Burbank’s
finest amenities, such as the Burbank Town Center, AMC Burbank Theatres, and
walking distance to downtown Burbank strip. The subject property is also located
within walking distance to Trader Joe’s neighborhood grocery, Ralphs, IKEA, and
many other desirable shopping retailers.
220 East Valencia Avenue provides investors the opportunity to acquire a
sought-after, non-rent controlled asset in the highly affluent City of Burbank. In
addition, savvy investors could capture additional upside through implementing a
thorough interior and exterior renovation program to the remaining units.
NOT SUBJECTTO RENT
CONTROL
► Property Is Not Subject to Rent Control
► Desirable Unit Mix, Consisting of One Bedroom and Studio Units
► Private Garages Providing an Existing, Additional Income Stream
► On-Site Laundry Facilities for Tenants
► Close Proximity to All Burbank Attractions
► New Copper Plumbing and Roof Improvements
► Located within the Burbank Unified School District Boundaries
WALKING DISTANCE TO DOWNTOWN
BURBANK
RECENT RENOVATIONS
ON-SITE LAUNDRY
INVESTMENT HIGHLIGHTS
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACTIVITY ID: Z0140094
1928YEAR BUILT
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PROPERTYDESCRIPTION
220 EAST VALENCIA AVENUE
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PROPERTY DETAILS
PROPERTY SUMMARY
Property Address220 East Valencia Avenue,
Burbank, CA 91502
Zoning BUR4
Number of Units 12
Year Built 1928
Lot Size 7,044 SF
Type of Ownership Fee Simple
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RegionalMap
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LocalMap
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACTIVITY ID: Z0140094
4.77% 5.58%CAP RATE PRO FORMA CAP RATE
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FINANCIALANALYSIS
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UNIT UNIT TYPE CURRENT RENT/MONTH MARKET RENT/MONTH
1 1 Bed / 1 Bath $1,600 $1,625
2 1 Bed / 1 Bath $1,485 $1,625
3 Studio $1,210 $1,485
4 Studio $1,290 $1,485
5 Studio $1,220 $1,485
6 Studio $1,485 $1,485
7 1 Bed / 1 Bath $1,430 $1,625
8 1 Bed / 1 Bath $1,300 $1,625
9 Studio $1,250 $1,485
10 Studio $1,400 $1,485
11 Studio $1,232 $1,485
12 Studio $1,350 $1,485
Total $16,252 $18,380
RENT ROLL22
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PRICING DETAIL
INCOME CURRENT YEAR 1
Gross Scheduled Rent $195,024 $220,560
Additional Parking Income $11,700 $12,000
Additional Laundry Income $2,400 $2,400
Less: Vacancy/Deductions 3.0% $5,851 3.0% $6,617
Effective Gross Income $203,273 $228,343
Less: Expenses 29.6% $60,072 26.8% $61,075
Net Operating Income $143,201 $167,268
EXPENSES CURRENT YEAR 1
Real Estate Taxes $39,375 $39,375
Insurance $3,000 $3,000
Utilities $4,200 $4,200
Landscaping $600 $600
Repairs & Maintenance $3,600 $3,600
Management Fee (4%) $8,131 $9,134
Reserves & Replacements $1,166 $1,166
Total Expenses $60,072 $61,075
Expenses/Unit $5,006 $5,090
Expenses/SF $7.74 $7.86
PRICE $3,000,000
Down Payment 100% $3,000,000
Number of Units 12
Price/Unit $250,000
Price/SF $386.30
Rentable SF 7,766
Lot Size (SF) 7,044
Year Built 1928
RETURNS CURRENT YEAR 1
CAP Rate 4.77% 5.58%
GRM 15.38 13.60
NO. UNITS
UNIT TYPE
SF/UNIT
SCH. RENTSMARKET
RENTS
8 Studio - $1,210-$1,485 $1,485
4 1 Bed / 1 Bath - $1,300-$1,600 $1,625
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E X C L U S I V E LY L I S T E D B Y
220 EAST VALENCIA AVENUE
YACINE LAKHOUALos Angeles
Cell 310.999.4465 Office 213.943.1783
[email protected] CA 01921881
ARMOND AIVAZYANLos Angeles
Cell 818.632.9542 Office 213.943.1846
[email protected] CA 01954384