6 units in westwood...1974 1+1 $2,395 $2.82 850 0.6 mi 2 10558 eastborne ave. los angeles, ca 90024...

6 UNITS IN WESTWOOD

10622 EASTBORNE AVE, LOS ANGELES, CA 90024

PLAY DRONE VIDEO

https://vimeo.com/279157520

EXCLUSIVELY LISTED BY:

BRIAN NOHNOHCO Real Estate

O: (213) 804-7647

C: (949) 308-5775

E: [email protected]

CaBRE Lic# 01438155

2

CONFIDENTIALITY

This Investment Offering Memorandum has been prepared by the NOHCO Real Estate (“Broker”) for use of prospective purchasers of (the “Property”). Neitherthe Broker nor the Owner of the Property (“Owner”) makes any representation or warranty, expressed or implied, as to the completeness or the accuracy of thematerial contained in the Offering Memorandum.

Although the information contained herein is believed to be correct, Owner and Broker, disclaim any responsibility for inaccuracies and expect prospectivepurchasers to exercise independent due diligence in verifying all such information. Further, Broker, Owner and its employees disclaim any and all liability forrepresentations and warranties, expressed and implied, contained in, or for omission from, the Offering Memorandum, or any other written or oral communicationtransmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that the business or affairs of the Property orOwner since the date of preparation of the Offering Memorandum have remained the same. Analysis and verification of the information contained in theInvestment Offering Memorandum is solely the responsibility of the prospective purchaser.

The Offering Memorandum is a solicitation of interest and is not an offer to sell the Property. The Owner and Broker each expressly reserve the right, at their solediscretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate the discussions with any entity at any time with or withoutnotice. Owner shall have no legal commitment or obligations to any entity reviewing the Investment Offering Memorandum, or making an offer to purchase theProperty, unless and until such offer is approved by the Owner, a written agreement for the purchase of the Property has been fully executed, delivered andapproved by Owner and its legal counsel and any conditions to Owner’s obligations there under have been satisfied or waived.

The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are ofa confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest of confidence, that you will notphotocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained byyou if necessary, for your determination of whether or not to make a proposal and from whom you have obtained the agreement of confidentiality) without priorwritten authorization of Owner and Broker and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to theinterest of the Owner or Broker.

CHAD LUNDDouglas Elliman

O: (424) 202-3295

C: (310) 801-2641


CaBRE Lic# 00998185

WOLF BASCHUNGMW Team Brokerage

O: (213) 927-2113

C: (213) 422-2969


CaBRE Lic# 01369850



TABLE OF CONTENTS

3

OVERVIEW

• Summary

• Highlights

PROPERTY

• Property Photos

• Drone Aerials

LOCATION

• Area Map

• Neighborhoods

• Nightlife

FINANCIALS

• Rent Roll

• Setup

COMPARABLES

• Sold

• Rents

DEMOGRAPHICS

04

06

08

13

17

23

10622 EASTBORNE AVE

LOS ANGELES, CA 90024

APN: 4326-034-005

Units: 6

Building Size: 4,979 SF

Lot Size: 6,500 SF

Year Built: 1950

Zoning: LA-R3

Market: West Los Angeles

Submarket: Westwood

Cross Street: Manning Ave

OFFERING PRICE:

$3,295,000

EASTBORNE SIX

10622 EASTBORNE AVE, LOS ANGELES, CA 90024 4


PROPERTY OVERVIEW

Eastborne Six is a classic 6 unit multifamily building in the top

notch Westwood / Century City area of West Los Angeles,

California. The Property is a 2 story structure consisting of (4)

Two bed/One bath and (2) One bed/One bath units, sitting on

a 6,500 SF parcel zoned LA-R3. The ample layout is

configured over 4,979 SF of living space, built in 1950, and

constructed with a wood frame, stucco finish with a pitched

roof. There are 4 garages and 6 parking spaces. The

property will be delivered with 4 vacant units providing unique

immediate upside opportunity in the investment.

*Property is subject to City of Los Angeles Rent Control.

PROPERTY FEATURES

➢ First time on market in 60 years!

➢ Prime Location in Westwood near Century City, UCLA,

& Beverly Hills.

➢ R3 zoning for future development potential.

➢ Four units to be delivered vacant at close of escrow.

PROPERTY SUMMARY

5

BIRD’S EYE VIEW


AERIAL SHOT


NEIGHBORHOOD


Eastborne Six is situated on the

southern side of Westwood,

across from Century City, and

bordered to the east by

Beverly Hills, Holmby Hills and

Bel-Air to the north, and

Brentwood to the west.

Attractions besides the UCLA

campus include Westwood

Village, with its historic motion

picture theaters, restaurants and

shopping, Westwood Village

Memorial Park Cemetery and

the Hammer Museum. Holmby

Hills is considered one of the

wealthiest residential areas in

Los Angeles, and the Geffen

Playhouse attracts theater-

goers. Nearby Century City is

the epicenter of business and

finance in Los Angeles, and with

the $1 billion make-over of the

Westfield Century City mall, the

premier West LA shopping

destination.


WESTWOOD MAP

LOCATION AREA


NEARBY AMENITIES


NEAR CENTURY CITY WESTFIELD MALL WORLD RENOWNED UCLA IN YOUR BACKYARD

WESTWOOD AT NIGHT IS MAGICAL OTHER SIDE OF SANTA MONICA BLVD.

11

LOCAL ATTRACTIONS


20TH CENTURY FOX STUDIOS VINTAGE THEATERS AND LA LANDMARKS

BEVERLY HILLS & RODEO DRIVE ART IN THE NEIGHBORHOOD: HAMMER MUSEUM

FINANCIALS

UNIT # TYPE TENANT CURRENT RENTS PRO FORMA RENTS DEPOSIT LEASE START LEASE END

10622 2+1 Vacant $0 $3,450

10622 1/2 2+1 Vacant $0 $3,450

10624 1+1 Owner $0 $2,250

10624 1/2 1+1 Tenant $1,596.59 $2,250 $1,596.50 2/1/15 MTM

10626 2+1 Tenant $2,214.50 $3,250 $3,225.00 3/1/18 2/28/19

10626 1/2 2+1 Owner $0 $3,250

TOTAL $3,811.09 $17,900 $4,821.50

RENT ROLL


PRICING SUMMARY SCHEDULED INCOME

Purchase Price

Down Payment

PROPERTY SUMMARY

APN#

No. Units

No. Stories

Year Built ANNUAL OPERATING INFORMATION

Building Sq. Ft.

Lot Size Gross Scheduled Rent

Parking Potential Laundry Income

Zoning Less: Vacancy Reserve

Meter (Separate) Effective Gross Income

Meter (Master) Estimated Expenses

Property Taxes (1.25%)

FINANCIAL INDICATORS Insurance

Pro Forma Cap Rate Utilities (Water)

Pro Forma GRM Maintenance & Repairs

Price Per Unit Gas & Electricity

Price Per Sq. Ft. Pest Control

Tenant Occupancy Legal/Licenses

Reserves (2%)

PROPOSED FINANCING

Loan Type

Percent Down Expenses Per Unit

Loan Amount Expenses Per SF

Interest Rate % of GSI

Amortized

Monthly Payment

Pro Forma Rents

Unit Type No. Units Avg. Per Unit Total$3,295,000

100% $3,295,000

1 bed / 1 bath 2 $1,923 $3,847

2 bed/1 bath 4 $3,091 $12,365

$16,2116

2

1950

Pro Forma

$2,702

4326-034-005

Average/Total 6

4,979

$194,5336,500

$4804 Garage & 6 Spaces

3% ($5,850)R3

$189,163Electric & Gas

Water

($41,188)

($2,770)

33%

($2,563)3.90%

($7,018)16.94

($146)$549,167

($750)

$661.78 ($2,400)

($3,783)

Total Expenses ($60,617)All Cash

100% $10,103

$0 $12.17

4.50% 32%

30Net Operating Income # 3.90% $128,546

$0

INVESTMENT SUMMARY


COMPARABLES

ADDRESS YEAR UNITS BLDG LOT PRICE CAP GRM $/Unit $/SF CLOSED DISTANCE

10622 Eastborne Ave

1950 6 4,979 6,500 $3,295,000 $549,167 $661.78Subject

Property

1

1946 Manning Ave

1930 4 2,768 6,755 $2,000,000 28.31 $500,000 $722.54 8/31/17 0.3 mi

2

11061 Ohio Ave

1947 3 4,316 6,060 $2,050,000 38.43 $683,333 $474.98 10/13/17 0.9 mi

3

1433 S Bentley Ave

1949 3 2,327 5,950 $2,050,000 34.15 $683,333 $880.96 10/13/17 0.9 mi

SALES COMPS



4

10465 Ashton Ave

1935 3 4,138 6,483 $2,650,000 3.0% 21.05 $883,333 $640.41 12/27/17 0.7 mi

5

10585 Ashton Ave

1936 2 4,218 6,261 $2,700,000 1.9% 27.78 $1,350,000 $640.11 5/17/18 0.5 mi

6

1959 S Beverly Glen

1953 5 6,690 6,354 $2,805,000 3.4% 18.51 $561,000 $419.28 2/13/18 0.4 mi

7

1651 Camden Ave

1963 6 6,848 6,949 $2,952,000 2.7% 17.08 $492,000 $431.07 12/20/17 0.8 mi


SALES COMPS


8

1665 Manning Ave

2000 6 6358 6,464 $3,900,000 3.2% 19.62 $650,000 $613.40 2/7/18 0.1 mi

9

1751 S Bentley Ave

1986 7 7,674 6,239 $4,385,000 3.1% 20.47 $626,429 $571.41 4/20/18 0.8 mi

10

1016 Tiverton Ave

1929 13 12,567 11,746 $5,400,000 1.9% 20.18 $415,385 $429.70 10/3/17 0.9 mi


SALES COMPS

1946 Manning Ave, Los Angeles, Ca

11061 Ohio Ave, Los Angeles, Ca

1433 S Bentley Ave, Los Angeles, Ca

10465 Ashton Ave, Los Angeles, Ca

10585 Ashton Ave, Los Angeles, Ca

1959 S Beverly Glen Blvd, Los Angeles, Ca

1651 Camden Ave, Los Angeles, Ca

1665 Manning Ave, Los Angeles, Ca

1751 S Bentley Ave, Los Angeles, Ca

1016 Tiverton Ave, Los Angeles, Ca


SALES COMPS MAP

ADDRESS YEAR UNIT TYPE RENT RENT/SF UNIT SIZE DISTANCE

SUBJECT PROPERTY

10622 Eastborne Ave1950 1+1 $2,250

11743 Glendon Ave.

Los Angeles, Ca 900241974 1+1 $2,395 $2.82 850 0.6 mi

210558 Eastborne Ave.

Los Angeles, Ca 900241971 1+1 $2,095 $2.99 700 0.1 mi


Los Angeles, Ca 900241949 1+1 $2,597 0.3 mi


Los Angeles, Ca 900241974 1+1 $2,095 $2.67 785 0.1 mi

1 BED RENT COMPS


2 BED RENT COMPS


ADDRESS YEAR UNIT TYPE RENT RENT/SF UNIT SIZE DISTANCE

SUBJECT PROPERTY

10622 Eastborne Ave1950 2+1 $3,400

110600 Holman Ave.

Los Angeles, Ca 900241974 2+1 $3,400 $2.27 1,500 0.1 mi

21675 Manning Ave.

Los Angeles, Ca 900241959 2+1 $2,895 $3.05 950 0.1 mi

310666 Holman Ave.

Los Angeles, Ca 900241950 2+1 $2,845 $3.25 876 0.2 mi


Los Angeles, Ca 900241971 2+2 $2,545 $2.52 1,010 0.1 mi


Los Angeles, Ca 900241973 2+1 $2,795 0.1 mi


Los Angeles, Ca 900241965 2+2 $3,200 $2.87 1,114 0.1 mi

DEMOGRAPHICS

CHAD LUNDDouglas Elliman

O: (424) 202-3295

C: (310) 801-2641


CaBRE Lic#00998185

BRIAN NOHNOHCO Real Estate

O: (213) 804-7647

C: (949) 308-5775


CaBRE Lic#01438155

WOLF BASCHUNGMW Team Brokerage

O: (213) 927-2113

C: (213) 422-2969


CaBRE Lic#01369850


PRESENTED BY

6 units in westwood...1974 1+1 $2,395 $2.82 850 0.6 mi 2 10558 eastborne ave. los angeles, ca 90024...

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