barton apartments - loopnet

e x c l u s i v e m u lt i fa m i l y o f f e r i n g

15250 Ventura Blvd., Suite 100 Sherman Oaks, CA 91403

P: 818-986-9800 F: 818-933-0450

www.lee-associates.com

Lee & Associates® LA North/Ventura, Inc.

Corporate ID #01191898A Member of the Lee & Associates

Group of Companies

WARREN BERZACKNational Director, Lee Multifamily Advisory Group President, Berzack Investment Property Advisors

Lic. #01329015

[email protected]

Barton Apartments5918 Barton Ave, Los Angeles CA | 8 units

i n v e s t m e n t p r op e rt y a d v i s or sBERZACK

The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.

5918 Barton Ave | Los Angeles, CA

Ba r t o n apa r t m e n t s


PROPERTY DESCRIPTION

�Charming, Spanish Revival Architecture

�Significant Rental Upside

�Spacious 1-Bedroom, 1-Bath Units

�Five, Separate, Fully Enclosed Garages

�Three Units Fully Renovated

�High Density and Growing Rental Submarket

Barton Apartments is a charming, Spanish Revival garden apartment complex located in Hollywood, one of the

most exciting and dynamic neighborhoods in Los Angeles. The property consists of eight units, each with its own entrance, and five individual, fully enclosed garages. Three of the eight units have been fully remodeled with stainless steel gas ranges and quartz countertops. The units feature hardwood floors and air conditioning. Built in 1924, the 3,964-square-foot property sits on a 6,497-square-foot lot. The property features a premier location in walking distance of numerous amenities and employment centers.

LOCATION INFORMATION

�Close to many employment centers

�Minutes from the Pantages Theatre, Palladium, ArcLight Dome and trendy restaurants

�Easy access to Metro stops at Hollywood and Vine and Hollywood and Highland

�Walk Score of 89, “Very Walkable” for all errands.

�Hardwood Floors

�Air Conditioning

�Secured Entry

�Refrigerator, Stainless Steel Range, Quartz Countertops in Remodeled Units

�Private Entrances

�Spacious, Mirrored Closets, Recessed Lighting and Ceiling Fans in Remodeled Units

Highlights Amenities

The Barton Apartments lie between Gower Street on the east, Vine Street on the west, Santa Monica Boulevard to the north and Melrose Avenue to the south.





MULTI‐FAMILY INVESTMENT INFORMATION SHEET

NUMBER OF UNITS 8 ADDRESS BUILDING SIZE (SQ. FT.) 3,964 CITY, STATE, ZIP LOT SIZE (SQ. FT.) 6,497 PRICE COST PER UNIT $273,125YEAR BUILT COST PER SQFT $551.21

□ Exterior Completely Remodeled □ 5 Individual Garages □ 3 of 8 Units Fully Remodeled □ Great Curb Appeal

RENTAL INFORMATIONUnit # BDRMS BATHS Market Rents5918 1 1 $705.13 $2,095

5918‐1/4 1 1 $716.67 $1,250 $2,0955918‐1/2 1 1 $747.98 $1,250 $2,0955918‐3/4 1 1 $1,998.61 $1,250 $2,0955920 1 1 $2,078.41 $1,300 $2,095

5920‐1/4 1 1 $652.30 $1,250 $2,0955920‐1/2 1 1 $2,044.79 $1,250 $2,0955920‐3/4 1 1 $1,415.07 $1,250 $2,095

Scheduled Monthly Income: $10,358.95 $8,800 $16,760

ANNUAL PROPERTY OPERATING DATAINCOME/YEAR AS OF 5/1/2020

AS % GOI AS % GOI AS % GOIScheduled Gross Income $124,307 96.52% $201,120 95.72% Taxes (Est. 1.25%) $27,313 21.21%Other Income $4,476 3.48% ($150/garage/month) $9,000 4.28% Insurance $2,270 1.76%(Parking, Pet fee, Renters Ins.) Repairs/Maintanence $8,000 6.21%Gross Operating Income $128,783 CURRENT MARKET $210,120 Landscaping ($150/mo) $1,800 1.40%Vacancy Reserve $3,864 3.00% $6,304 3.00% Pest Control ($40/mo) $480 0.37%Effective Gross Income $124,920 16.97 10.40 $203,816 Trash & Electricity $1,075 0.83%Expenses $43,270 33.60% $43,270 20.59% License/Permits $543 0.42%Net Operating Income $81,650 63.40% 3.74% 7.35% $160,546 76.41% Miscellaneous($100/un) $800 0.62%Debt Service $72,857 $72,857 Management $0 0.00%Pre‐Tax Cash Flow $8,792 1.01% 10.03% $87,689 Janitorial $990 0.77%Principal Reduction $24,024 $24,024Return on Equity $32,817 3.75% 12.78% $111,713

MORTGAGE FINANCING INFORMATIONLoan Amount $1,311,000 Monthly Loan Payment $6,071Down Payment $874,000 40% Annual Loan Payment $72,857 TOTAL EXPENSES $43,270 33.60%5‐Year Fixed Rate 3.75% Year 1 Interest Amount (approx.) $48,833Amortization Period (Yrs) 30 Year 1 Principal Paydown (approx.) $24,024 Expense / NRSF

Expense / Unit

Los Angeles, CA, 90038

GRM

□ Highly Desireable Hollywood loca�on

$2,185,000

ESTIMATED ANNUAL EXPENSES

Lee Associates ‐ LA North/Ventura, Inc.

Warren Berzack 818.933.0350

15250 Ventura Boulevard, Suite 100 | Sherman Oaks, CA 91403

Barton Apartments

$5,409

MARKET INCOME/YEAR

Return On Equity

Income as of 5/1/20 Market Income

Cash on Cash

CAP Rate

$10.92

wberzack@lee‐re.com Lic. #01329015

□ Signicant Upside in Rents

1924

5918 Barton Ave.

INVESTMENT HIGHLIGHTS

The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.





PROPERTY PHOTOS





AREA INFORMATIONHollywood is undergoing a seismic shift. Little evidence of its tattered past remains as this market evolves into a vibrant, live-work community that caters to the burgeoning population of Millenialenos (Los Angeles Millennials) with a dynamic mix of creative and professional office space, restaurants and shops and nightlife offerings. More than $4.8 billion has been invested in Hollywood since 2000, and the development boom is continuing with several billion dollars more in office, mixed-use and hospitality projects still underway. The development is expected to increase an already dense population of more than 85,500 residents to 340,000 over the next few years.

• Walkability… The Subject Property offers Paramount Studios, Raleigh Studios and Sunset Las Palmas Studios, along with Netflix new headquarters, among many other employers all within a 20-minute walk.

• Restaurants and Nightlife… The Cahuenga Corridor, with restaurants, bars, entertainment venues and shops is minutes away as are iconic locations including the Pantages and Egyptian Theaters, Hollywood Paladium, ArcLight Dome and more.

• Transportation… Hollywood is a regional transportation hub with two Metro stops, one at Hollywood and Vine and one at Hollywood and Highland.

DEMOGRAPHIC SUMMARY

Total Population

Average Household Income

32,623

$72,320

641,466

$88,782

1-mile radius 5-mile radius

The

info

rmat

ion

prov

ided

her

ein

is fr

om s

ourc

es w

e be

lieve

are

relia

ble.

Whi

le w

e do

not

dou

btits

acc

urac

y, we

hav

e no

t ver

ified

it a

nd m

ake

no re

pres

enta

tions

, gua

rant

ees

or w

arra

ntie

s ab

out i

t.in

ve

st

me

nt

pr

op

er

ty

ad

vis

or

sB

ER

ZA

CK

5918 B

arto

n A

ve |

Los

Angele

s, C

A

Ba

rto

n a

par

tmen

ts

AER

IAL

MA

P

The

info

rmat

ion

prov

ided

her

ein

is fr

om s

ourc

es w

e be

lieve

are

relia

ble.

Whi

le w

e do

not

dou

btits

acc

urac

y, we

hav

e no

t ver

ified

it a

nd m

ake

no re

pres

enta

tions

, gua

rant

ees

or w

arra

ntie

s ab

out i

t.in

ve

st

me

nt

pr

op

er

ty

ad

vis

or

sB

ER

ZA

CK

5918 B

arto

n A

ve |

Los

Angele

s, C

A

Ba

rto

n a

par

tmen

ts

AMEN

ITIES

AER

IAL

The

info

rmat

ion

prov

ided

her

ein

is fr

om s

ourc

es w

e be

lieve

are

relia

ble.

Whi

le w

e do

not

dou

btits

acc

urac

y, we

hav

e no

t ver

ified

it a

nd m

ake

no re

pres

enta

tions

, gua

rant

ees

or w

arra

ntie

s ab

out i

t.in

ve

st

me

nt

pr

op

er

ty

ad

vis

or

sB

ER

ZA

CK

5918 B

arto

n A

ve |

Los

Angele

s, C

A

Ba

rto

n a

par

tmen

ts

SITE

PLA

N

barton apartments - loopnet

Documents