-
15500 Barton Avenue
-
2
CONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMER
The 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 in-
formation 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.
© 2020 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICENON-ENDORSEMENT NOTICE
Marcus & 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.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
-
PROPERTY OVERVIEW 4
AERIAL MAP 8
SITE PLAN
MARKET OVERVIEW
9
14
FINANCIALS
DEVELOPMENT OVERVIEW
SALES COMPARABLES
PHOTOS
AREA OVERVIEW
DEMOGRAPHICS
11
16
20
18
24
26
TABLE OF CONTENTSTABLE OF CONTENTS
-
4
EXECUTIVE SUMMARYEXECUTIVE SUMMARYMarcus and Millichap, as the exclusive listing agent, is
pleased to present the opportunity to acquire 5500 Barton
Avenue. Two structures consist of total five units situated
on a 8,599 square foot RD1.5 zoned lot, and Spanish style
four-unit building in front is composed of four one-bed-
room / one-bathroom units. Detached two-bedroom /
one-bathroom rear house unit with private outdoor patio
has been remodeled and features new windows, hard-
wood flooring, stainless steel appliances, washer/dryer,
new tiles, and other upgrades. There are three enclosed
garages and plenty of surface open parking spaces for
tenants. Detached house unit and recently renovated unit
#5502 is being delivered vacant.
Originally built in 1921, 5500 Barton Avenue is within in min-
utes of Hollywood’s new trendy restaurants and shops on
Melrose Avenue and Santa Monica Boulevard. The imme-
diate area is rapidly improving with newly developed units.
This is an excellent opportunity to acquire a well-main-
tained property in a location that continues to attract high-
end urban apartment dwellers.
-
Proximity to
101 Freeway
Within Minutes from
Hollywood, Los Feliz,
and Koreatown
Four (4) Units
Delivered Vacant
Washer and Dryer
in All Units
Potential to Convert
Garage into ADU
(Accessory Dwelling Unit)
Three (3) Enclosed
Garages and Ample
Open Parking Spaces
INVESTMENT HIGHLIGHTSINVESTMENT HIGHLIGHTS
55500 Barton Avenue
-
6
PROPERTY DETAILSPROPERTY DETAILS
Asking Price $2,050,000
Property Type Low-Rise Apartments
GLA 2,875 SF
Lot Size 8,599 SF
Number of Units 5
Stories 2
Year Built/Renovated 1921/2019
Parking 8 +
Metering Individually Metered
Number of Buildings 2
Construction Wood
Walk Score 91
Transit Score 59
Zoning RD1.5
Parcel 5535-008-012
5500 BARTON AVENUE, LOS ANGELES, CA 90038
-
75500 Barton Avenue
-
AERIAL MAPAERIAL MAP8
-
95500 Barton Avenue
SITE PLANSITE PLAN
-
ADUADU10
(ACCESSORY DWELLING UNIT)(ACCESSORY DWELLING UNIT)
An Accessory Dwelling Unit, also known as a granny or in-law unit, is
a living unit that may be up to 1200 sq. ft. An ADU is an attached or
detached residential dwelling unit which provides independent living
facilities for one or more persons. The ADU unit is located on the same
property as the primary residence, is accessory to the primary residen-
tial building.
ADU Potential
-
115500 Barton Avenue
RENTROLL SUMMARYRENTROLL SUMMARY
AS OF MARCH 2020
SCHEDULED POTENTIAL
UNIT TYPE # OF SUITEAVG.SF
RENTALRANGE
AVERAGE RENT
AVERAGERENT/SF
MONTHLY INCOME
AVERAGE RENT
AVERAGERENT/SF
MONTHLY INCOME
2 Bed / 1 Bath (Cottage) 1 850 $3,200 - $3,200 $3,200 $3.76 $3,200 $3,200 $3.76 3,200
1 Bed / 1 Bath 4 506 $1,260 - $2,195 $1,919 $3.79 $7,675 $2,195 $4.34 $8,780
Totals/Weighted Averages 5 575 SF $2,175 $3.78 $10,875 $2,396 $4.17 $11,980
Gross Annualized Rents $130,500 $143,760
CURRENT UNIT UNIT TYPESQUARE
FEETCURRENT
RENT/MONTHCURRENT
RENT/SF/MONTHSCHEDULED
RENT/MONTHSCHEDULED
RENT/SF/MONTH
5500 2 Bed / 1 Bath 850 Vacant Vacant $3,200 $3.76
5502 1 Bed / 1 Bath 525 Vacant Vacant $2,195 $4.18
5502.5* 1 Bed / 1 Bath 500 $1,260 $2.52 $1,260 $2.52
5504 1 Bed / 1 Bath 500 $2,025 $4.05 $2,025 $4.05
5504.5* 1 Bed / 1 Bath 500 $2,195 $4.39 $2,195 $4.39
Total 2,875 SF $5,480 $1.91 $10,875 $3.78
* Unit 5502.5 Rent increases to $1365.45 on May 1st, 2020
* Unit 5504.5 will be vacant on April 1st, 2020
* Unit 5504 will be vacant on April 30th, 2020
* Unit 5500 & Unit 5502 Delivered Vacant
-
12
OPERATING STATEMENTOPERATING STATEMENTINCOME CURRENT PRO-FORMA
Gross Potential Rent $130,500 $143,401
Less: Vacancy/Deductions $6,525 5.00% $7,170 5.00%
Total Effective Rental Income $123,975 $136,231
Other Income $3,600 $38,400
Effective Gross Income $127,575 $174,631
Less: Expenses $27,706 21.70% $36,506 20.90%
Net Operating Income $99,869 $138,125
Cash Flow $99,869 $138,125
Debt Service $55,232 $55,232
Net Cash Flow After Debt Service $44,637 4.35% $82,892 8.09%
Principal Reduction $19,671 $20,371
Total Return $64,308 6.27% $103,263 10.07%
EXPENSES CURRENT PRO-FORMA
Real Estate Taxes $19,946 $19,946
Insurance $3,300 $3,300
Utilities - Water & Sewer $1,500 $1,800
Repairs & Maintenance $2,000 $2,000
Landscaping $960 $960
Marketing & Advertising 0 $2,000
General & Administrative 0 $1,000
Misc. Expenses 0 $2,500
Operating Reserves 0 $3,000
Total Expenses $27,706 $36,506
Expenses/Unit $5,541 $7,301
Expenses/SF $9.64 $12.70
ADU
-
135500 Barton Avenue
PRICING DETAILSPRICING DETAILS
PRICE $2,050,000
Down Payment $1,025,000
Down Payment % 50%
Number of Units 5
Gross Leasable Area (GLA) 2,875 SF
Lot Size 0.20 Acres / 8,599 SF
Year Built/Renovated 1921/2019
RETURNS CURRENT PRO-FORMA
CAP Rate 4.87% 6.74%
GRM 15.71 14.30
Cash-on-Cash 4.35% 8.09%
Debt Coverage Ratio 1.81 2.50
FINANCING 1st Loan
Loan Amount $1,025,000
Loan Type New
Interest Rate 3.50%
Amortization 30 Years
Year Due 2050
-
1 2
3
4
5
67
89 10 11
12
13 14
1
2
3
4
5
67
8 9 1011
12
13
14
15
16
1 2
3
4
5 6
7
89
10
11 12
1314
15 16
17
1
2
3
4
5
MARKET OVERVIEWMARKET OVERVIEW
14
-
155500 Barton Avenue
1
8
15
2
9
3
10
4
11
5
12
6
13
7
14
1
8
15
2
9
16
3
10
17
4
11
5
12
6
13
7
14
1 2 3 4 5
1
8
2
9
3
10
4
11
5
12
6
13
7
14
RESTAURANT & COFFEE
RETAIL
ATTRACTIONS
OTHERS
In & Out Burgers
Whole FoodsMarket
Farmers Market
Los AngelesFire Department Station 27
The HollywoodMuseum
The Home Depot
Arco
Starbucks
Salt & Straw
Starbucks
Sprouts FarmersMarket
Hollywood Bowl
Hollywood DMV
Museum of Death
Arco
Yogurtland
Chick-fil-A
Trader Joe’s
The Grove
US Social SecurityAdministration
HollywoodWax Museum
Food 4 Less
Denny’s
Noshi Sushi
Pink’s Hot Dogs
Office Depot
Griffith Observatory
Los AngelesCity College
Hollywood Walkof Fame HQ
Vons
Shabushi
Jack in the Box
CVS Pharmacy
Los AngelesCounty Museumof Art
Gnomon - School of Visual Effects, Games, Animation
HollywoodPantages Theatre
99 Cent Store
Starbucks
McDonald’s
California Chicken Cafe
7-Eleven
Dolby Theatre
Paramount Pictures Studio Tour
Smart & FinalExtra!
Starbucks
Shake Shack
CVS Pharmacy
TCL ChineseTheatre
Paramount Theatre
76
Wendy’s
-
1
2
3
4 5
14
15
16
17
18
6
7
98
13
10
11
12
19
1
2
3
9
10
4
11 12
14
7 8
13
3
4
2
1
5
6
SANTA MONICA BOULEVARDSANTA MONICA BOULEVARD
SUNSET BOULEVARDSUNSET BOULEVARD
MELROSE AVENUEMELROSE AVENUE
WE
ST
ER
N A
VE
NU
EW
ES
TE
RN
AV
EN
UE
NO
RT
H W
ILTO
N P
LA
CE
NO
RT
H W
ILTO
N P
LA
CE
VIN
E S
TR
EE
TV
INE
ST
RE
ET
NO
RT
H G
OW
ER
ST
RE
ET
NO
RT
H G
OW
ER
ST
RE
ET
16
-
175500 Barton Avenue
DEVELOPMENT OVERVIEWDEVELOPMENT OVERVIEW
1
8
2
9
3
10
4
11
5
12
6
13
7
14
1 2 3 4
1
8
15
2
9
16
3
10
17
4
11
18
5
12
19
6
13
20
7
14
21
20
21
PROPOSED
UNDER CONSTRUCTION
COMPLETED
6400 Sunset
5420 West Sunset
GodfreyHotel
Tamarind 6
901 North Vine
EmersonCollege
1360 North Vine
5831 SantaMonica (R)
Academy Square
Cue
711 Cole
748 NorthWilcox
1375 Saint Andrews
Santa Monica/Sant Andrews
1439 NorthTamarind
“Slot”Townhomes
5245 SantaMonica
1400 North Vine
1025 NorthWilcox
The RiseHollywood
1310 Tarmarind
1310 Tarmarind
Icon at SBS
1310 North Gordon
Paseo Plaza
6200 Sunset
1276 Western
743 NorthGramercy
Sunset GowerStudios (R)
5721 SantaMonica
EssexHollywood
1350 NorthWestern
Musician’s Credit Union(R)
Micropolitan atLarchmont Village
TargetHollywood
ParamountStudiosExpansion
1338 NorthGordon
Vine Inn &Suites
4658 Melrose
26 StoriesMixed-Use (200 units + 7k SF Retail)
Mixed-Use(735 Units)
7 StoriesMixed-Use (220 Rooms)
3 StoriesResidential Building
5 StoriesMixed-Use (76 Units+3.2ㅏㅏk SF Retail)
10 Stories
200,000 SFMixed-Use Building
4 StoriesResidential Building
7 StoriesMixed-Use(369 Units)
4 StoriesMixed-Use(32 Units)
4 StoriesMixed-Use(32 Units)
14 Stories
21 StoriesMixed-Use (429 Units)
2 StoriesOffice Conversion
23 StoriesMixed-Use(250 Units)
5 StoriesOffice
4 Stories84 Apartments
4 StoriesApartments
3x OfficeBuildings (18 Stories)
3 StoriesOffice Conversion
7 StoriesMixed-Use(200 Units)
7 StoriesMixed-Use
3 StoriesOffice Conversion
3 StoriesResidential Building (34 Units)
5 Stories Residential (60 Units)
7 StoriesMixed-Use(375 Units)
7 StoriesMixed-Use(270 Units)
6 StoriesMixed-Use(49 Units)
11 SFRHomes
7 StoriesApartment
5 StoriesMixed-Use(60 Units)
4 Stories21 Apartments
4 StoriesResidential Building
5 StoriesMixed-Use
On Hold
1..4m SF
4 Stories44 Apartments
6 Stories
6 StoriesMixed-Use(66 Units)
-
PHOTOSPHOTOS
18
-
195500 Barton Avenue
-
20
SALES COMPARABLESSALES COMPARABLES
1
2
6
3
7
4
5
PROPERTY ADDRESS SALE PRICE SALE DATE UNITS NUMBER OF UNITS CAP RATE YEAR BUILT
5500 Barton Avenue $2,050,000 N/A(1) 2 Bed 1 Bath(4) 1 Bed 1 Bath
5 4.87% 1921
5941 Barton Avenue $3,830,000 10/04/2019(3) 2 Bed 2 Bath Loft(2) 3 Bed 3 Bath Loft
5 4.38% 2015
1054 Kingsley Drive $1,290,000 07/03/2019(3) 2 Bed 1 Bath(1) 3 Bed 1 Bath(1) 1 Bed 1 Bath
5 3.54% 1920
5843 Gregory Avenue $2,150,000 09/17/2019(9) 1 Bed 1 Bath(1) 2 Bed 1 Bath
10 2.98% 1958
6133 Eleanor Avenue $1,900,000 08/29/2019(1) Studio
(7) 1 Bed 1Bath(1) 2 Bed 1 Bath
9 2.43% 1960
6026 Barton Avenue $1,385,000 11/18/2019(1) 1 Bed 1 Bath(3) 2 Bed 1 Bath
4 3.34% 1896
5012 Maplewood Avenue $1,785,000 03/06/2019(1) Studio
(4) 1 Bed 1 Bath(3) 2 Bed 1 Bath
8 3.47% 1961
845 Normandie Avenue $1,900,000 10/25/2019 (9) Studio 9 2.29% 1954
-
35
7
6
4
1
2
215500 Barton Avenue
-
22
SA
LE
S C
OM
PA
RA
BL
ES
2
5
3
6
1
4
7
5500 Barton Avenue, Los Angeles, CA 90038
1054 Kingsley Drive, Los Angeles, CA 90029
6026 Barton Avenue, Los Angeles, CA 90038
5843 Gregory Avenue, Los Angeles, CA 90038
5012 Maplewood Avenue, Los Angeles, CA
90004
6133 Eleanor Avenue, Los Angeles, CA 90038
845 Normandie Avenue, Los Angeles, CA 90029
5941 Barton Avenue, Los Angeles, CA 90038
-
235500 Barton Avenue
0
5
10
15
20
25
SA
LE
S
CO
MP
AR
AB
LE
S
6133 Eleanor Avenue, Los Angeles, CA 90038
AVERAGECAP RATE
5500 Barton Avenue
5941 Barton Avenue
1054Kingsley
Drive
6133 EleanorAvenue
6026BartonAvenue
5012 Maplewood
Avenue
845Normandie
Avenue
Average 17.32
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
5500 Barton Avenue
1054Kingsley
Drive
5843 GregoryAvenue
6133EleanorAvenue
6026BartonAvenue
5012 Maplewood
Avenue
845Normandie
Avenue
Average 3.01%
AVERAGE GRM
-
24
HOLLYWOODHOLLYWOOD
Hollywood is experiencing incredible residential, commercial and infra-
structural growth, driving tourism and attracting swarms of mediatalent.
The booming market has demonstrated incredible demand, driving ter-
rific market fundamentals, record-breaking rental rates, and the influx of
premier entertainment tenants. In 2017, Hollywood welcomed a tenant
migration of modern entertainment powerhouses, headlined by Netflix’s
500,000+ SF and Viacom’s 200,000+ SF. In May 2018 Netflix reached a
remarkable milestone, becoming the most valuable media and enter-
tainment company in the world. The relocations by Netflix, Viacom, and
others evidence Hollywood’s standing as the benefactor from the immi-
nent explosion of content in the entertainment industry. The entertain-
ment world stands to transform and flourish for a long time to come, with
Hollywood leading the charge. The city of Hollywood is among the most
densely populated neighborhoods in all of Los Angeles, due to its numer-
ous amenities and its close proximity to many employers.
-
255500 Barton Avenue
AREA OVERVIEWAREA OVERVIEW
Because of its history and attractions like Walk of Fame
and the Dolby Theatre, Hollywood has always been the
main attraction for tourists and now, home to many major
entertainment companies like Netflix and CBS TV City. It
is famous as the historical center of movie studios and
movie stars. Hollywood Boulevard is a Los Angeles cul-
tural icon, with museums, landmarks and other attrac-
tions that celebrate Los Angeles.’s rich film and enter-
tainment heritage. You can see handprints and footprints
of the stars at the TCL Chinese Theatre, which is said to
be one of the greatest theatres in the world, see the stars
on the Hollywood Walk of Fame, or visit the famous ce-
lebrity Hollywood Wax Museum. You can definitely find a
day’s work of activities that will give you the true experi-
ence of Hollywood and all it has to offer.
-
26
DEMOGRAPHICSDEMOGRAPHICS
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES
2018 Estimate
$200,000 or More 2.82% 6.29% 7.04%
$150,000 - $199,999 2.31% 4.19% 4.61%
$100,000 - $149,000 7.88% 10.37% 10.97%
$75,000 - $99,999 9.61% 9.90% 10.10%
$50,000 - $74,999 16.11% 16.63% 15.57%
$35,000 - $49,999 13.97% 13.12% 12.00%
$25,000 - $34,999 11.97% 10.63% 9.84%
$15,000 - $24,999 16.65% 13.03% 12.55%
Under $15,000 18.68% 15.85% 17.31%
Average Household Income $58,195 $78,550 $81,950
Median Household Income $37,558 $46,500 $47,473
Per Capita Income $22,196 $34,055 $34,425
POPULATION 1 MILE 3 MILES 5 MILES
2023 ProjectionTotal Population
81,004 537,574 1,086,817
2018 EstimateTotal Population
81,495 535,636 1,077,921
2010 CensusTotal Population
77,097 507,617 1,019,933
2000 CensusTotal Population
83,958 538,894 1,041,309
Daytime Population2018 Estimate
66,509 462,911 1,228,890
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2023 ProjectionTotal Households
30,800 234,462 457,130
2018 EstimateTotal HouseholdsAverage (Mean) Household Size
30,402
2.62
230,024
2.29
444,513
2.35
2010 CensusTotal Households
28,470 215,363 414,533
2000 CensusTotal Households 28,440 214,547 402,170
-
275500 Barton Avenue
DEMOGRAPHICSDEMOGRAPHICS
HOUSING UNITS 1 MILE 3 MILES 5 MILES
Occupied Units
2023 Projection 30,800 234,462 457,130
2018 Estimate 31,593 239,730 465,422
Owner Occupied 3,330 33,696 85,823
Renter Occupied 27,071 196,328 358,690
Vacant 1,191 9,706 20,909
Persons In Units
2018 Estimate Total Occupied Units 30,402 230,024 444,513
1 Person Units 31.90% 38.72% 38.43%
2 Person Units 25.67% 29.03% 28.15%
3 Person Units 15.74% 13.43% 13.19%
4 Person Units 13.28% 9.91% 10.03%
5 Person Units 7.40% 4.85% 5.25%
6+ Person Units 6.01% 4.06% 4.95%
POPULATION PROFILE 1 MILE 3 MILES 5 MILES
Population by Age
2018 Estimate Total Population 81,495 536,636 1,077,921
Under 20 20.51% 18.22% 19.43%
20 to 34 Years 27.77% 29.24% 28.59%
35 to 39 Years 8.07% 9.21% 8.59%
40 to 49 Years 14.36% 15.01% 14.51%
50 to 64 Years 17.83% 16.87% 16.91%
Age 65+ 11.48% 11.42% 11.98%
Median Age 36.02 36.29 36.09
Population 25+ by Educational Level
2018 Estimate Population Age 25+ 58,439 401,138 785,951
Elementary (0-8) 13.26% 9.84% 10.96%
Some High School (9-11) 11.01% 8.19% 8.89%
High School Graduate (12) 21.25% 17.28% 17.83%
Some College (13-15) 16.59% 16.16% 16.25%
Associate Degree Only 5.19% 5.74% 5.52%
Bachelors Degree Only 21.38% 28.73% 25.80%
Graduate Degree 6.75% 11.00% 11.22%
Population by Gender
2018 Estimate Total Population 81,495 535,636 1,077,921
Male Population 50.95% 51.12% 51.00%
Female Population 49.05% 48.88% 49.00%
-
28
A N D Y PA R KA N D Y PA R K
Multi-Housing / LandMulti-Housing / Land
Direct: (213) 943-1892 // Cell: (310)755-0345
License: CA 01946252
L E X Y O OL E X Y O O
Investment / DevelopmentInvestment / Development
Direct: (213) 943-1844 // Cell: (213) 537-9691
License: CA 01879695
B R E N T K O OB R E N T K O O
Office / IndustrialOffice / Industrial
Direct: (213) 943-1846 // Cell: (213) 503-0606
License: CA 01915382