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1920’s Character Property | Fully Renovated & Performing | Multifamily Investment Opportunity

The Oxford HollywoodPlay Video

https://vimeo.com/389378455

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Exclusively Listed:

RICH JOHNSKW COMMERCIALMultifamily Investment Advisor818.432.1575 [email protected]

DRE LIC#01432215

NICK ASTRUPGAARDKW COMMERCIALMultifamily [email protected]

DRE LIC #01893466

1020 N Oxford, Hollywood, CA 90029

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CONTENTS04

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PROPERTY DESCRIPTION

EXECUTIVE SUMMARY

LOCATION OVERVIEW

MARKET COMPARABLES

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1 0 2 0N OXFORD AVE

1020N OXFORD

AVENUE

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KW Commercial is pleased to present The Oxford Hollywood, located at 1020 N Oxford Avenue. A reimagined 5-unit multifamily opportunity in Hollywood (90029). one of LA’s most dynamic neighborhoods.

T h e Offering

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The interior apartment homes feature Scandinavian-inspired aesthetics with thoughtfully curated designer touches. Each unit has been carefully redesigned with open floor plans, large windows, new flooring, new baths, new kitchens, upgraded appliances and treatments and in-suite laundry.

Parking is provided in Four (4) enclosed garages and One (1) open on-grade space. The property is not on the list of buildings that require a soft-story seismic retrofit.

The Oxford Hollywood offers you a unique combination of modern living and relaxed comfort, while being centrally located in one of the most engaging and diverse neighborhoods in LA.

The exteriors have also seen a transformation, sky-rocketing the property’s curb-appeal. The drought-tolerant landscaping and thoughtfully imagined exterior provide attractive exterior spaces for tenant enjoyment.

Centrally located in Hollywood, the Oxford Hollywood is poised to capitalize on the tremendous momentum in the Hollywood submarket. Furthermore, the subject property’s transit-oriented and highly walkable location offers residents access to a of myriad entertainment venues, cultural destinations, and dining options.

T h e Offering

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Sleek Apartment Project Slated Nearby A full buildout of the development would create approximately 370,000 square feet of retail and restaurant space between the new construction and the restored Sears building.

The project includes the rehabilitation of the 1920s Sears department store as retail space with a 20,000-square-foot rooftop park.

The property will be developed with a series of seven-story buildings designed by architecture firm Togawa Smith Martin. Plans call for 375 units of rental housing on the upper floors, with additional retail space below.

Within Two Blocks ofTHE OXFORD HOLLYWOOD

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InvestmentHighlights

THE OPPORTUNITY: The Oxford Hollywood is a highly renovated and performing 5-unit investment opportunity located in Hollywood, CA 90029,adjacent to the neighboring Virgil Village and Silver Lake.

OUTSTANDING LOCATION: The property is located in the rapidly gentrifying sub-market of Hollywood. Nestled in-between the red-hot Silver Lake and Los Feliz neighborhoods, the location offers tenants easy access to many of the “Eastside’s” hottest venues as well as public transportation and the Metro.

WELL LOCATED: The Oxford Hollywood has a Walk Score of 93 out of 100. Walkscore.com deems it a “Walker’s Paradise” and states: “Daily errands do not require a car”.

LACK OF HOUSING AFFORDABILITY: There is a significant affordability gap to home ownership in the Hollywood submarket. As the median home price in the area is approximately $975,532, a typical monthly mortgage payment is between 1.5 times more than the average renovated apartments at The Oxford Hollywood

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PARKING: The Oxford Hollywood offers Five (5) vehicle parking spaces featuring four enclosed garages and one open on-grade space.

STRONG EMPLOYMENT: The Hollywood submarket is one of the strongest employment centers in the Los Angeles MSA and offers access to a diverse set of employers.

LOCATED NEAR NEW COMMERCIAL DEVELOPMENTS: More than 2.3 million SF of commercial space is currently under development in the Hollywood submarket representing more than $1.58B in project costs, it is estimated that nearly 6,500 new jobs will be created in Hollywood alone

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EXTERIOR

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INTERIOR

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FEATURESThe Oxford Hollywood apartments have been completely renovated: All new kitchens, featuring quartz counters, brand new stainless-steel appliances including dishwasher and in-unit washer and dryer, new bathrooms, flooring, and doors. No detail, no matter how small, has been overlooked with new cabinets, landscaping, windows and interior and exterior light fixtures. The building’s systems have seen an overhaul with new roofing and upgraded electrical, plumbing and water systems.

• Fully renovated throughout• New stainless steel appliances• New dishwasher & stove/range• New in-unit washer / dryer units• Open concept floorplans• Detached garage unit for storage or

parking• New bathroom sink, shower / tub,

floor tiles

• New flooring throughout• New exterior and interior light fixtures• Upgraded plumbing systems• Upgraded electrical systems• Drought-tolerant landscaping• Covered parking available• Private patio and garden spaces

available• Walk Score of 93

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EXECUTIVES U M M A R Y

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1020 N Oxford, Hollywood, CA 90029

BUILDING DATA

Units 5

Year Built 1924

Lot Sq Ft 8,409

Bldg Gross Sq Ft 5,100

Parking Spaces 5

ESTIMATED ANNUALIZED EXPENSES

New Property Taxes $28,106

Utilities (DWP & Gas) $3,500

Property Insurance $2,805

Landscaping $1,080

Repairs & Maintenance $2,000

Rental Registration $270

Pest Control $960

Reserves (2% of Annual Income) $2,918

Total Estimated Expenses -$39,948

SOURCE OF INCOME CURRENT RENTMARKET RENT

Unit # Unit Type Avg. Rent Total Avg. Rent Income

1 2 Bed + 2 Flex Rooms / 1.5 Baths $3,426.80 $3,426.80 $3,650 $3,650

2 2 Bed / 1 Bath $2,371.50 $4,743 $2,600 $5,200

2 1 Bed / 1 Bath $1,994.00 $3,988.00 $2,295 $4,590

Total Monthly Income $12,157.80 $13,690

Total Annual Income $145,893.60 $164,280

EST. ANNUALIZED OPERATING DATA CURRENT MARKET

Scheduled Gross Income $145,894 $164,280

Less Vacancy 3.0% ($4,377) 3.0% ($4,928)

Gross Operating Income $141,517 $159,352

Less Expenses 28.2% ($39,948) 24% ($39,948)

Net Operating Income $101,569 $119,404

NOTATIONS:

Repairs & Maintenance: Repairs and Maintenance is underwritten as a pro forma expense of $400 per unit per year.

Contract Service: Expenses are projected for Pest Control ($80/mo), Landscaping ($90/mo) based on market rates.

Utilities: Estimated at $700 / unit / year based on market rates. Separately metered for Gas & Electrical utilities.

Real Estate Taxes: Taxes have been underwritten based upon a tax rate of 1.23%.

Property Insurance: The Current and Pro Forma Insurance expense is based upon $0.55/SF/Year.

Capital Reserves: Capital Reserves have been underwritten at 2% of Annual Gross Income.

FINANCIAL INDICATORS

Price $2,285,000

Current CAP 4.4%

Market CAP 5.2%

Current GRM 15.66

Market GRM 13.91

Cost Per Unit $457,000

Price per SF $448.04

Expenses Per Unit $7,990

Expenses Per Sq Ft $7.83

FinancialsFINANCIAL SUMMARY

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UNIT STATUS UNIT TYPE Estimated Unit Square Footage

Rent / SF Current

Current Rent Rent / SF Market

Market Rent

1020 Occupied 2 Bed + 2 Flex Rooms / 1.5 Bath

2150 $1.59 $3,426.80 $1.81 $3,900

1020 1/2 Occupied 2 Bed / 1 Bath 775 $3.02 $2,344.00 $3.35 $2,600

1020 1/4 Occupied 1 Bed / 1 Bath 700 $2.85 $1,994.00 $3.28 $2,295

1022 Occupied 2 Bed / 1 Bath 775 $3.10 $2,399.00 $3.35 $2,600

1022 1/2 Occupied 1 Bed + Flex Room / 1 Bath 700 $2.85 $1,994.00 $3.28 $2,295

$2.68 $12,157.80 $3.02 $13,690

1020 N Oxford, Hollywood, CA 90029RENT ROLL

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1020 N Oxford, Hollywood, CA 90029 CONSTRUCTION

Assessor’s Parcel Number: 5536-025-006 Foundation: Foundation Retrofitted / Raised Foundation

Buildings: Two Framing: Wood Frame

Year Built: 1924 Exterior: Stucco

Land Use: Apartments Roof: Front Structure - FlatRear Structure - Pitched

Zoning: LAR1.5 Topography: Flat

Stories: Two

SITE DESCRIPTION UTILITIES

Units: 5 Electric: Separately Metered - LADWP

Gross Square Footage: 5,100 Gas: Separately Metered - Gas Company

Parcel Size: 8,409Parking: 5

MECHANICAL

HVAC: Portable Air Conditioner Units / Wall Heaters

Fire Protection: Smoke Detectors

Water Heater: Individual Water Heaters

Plumbing: Majority of horizontals updated to Copper

Property Details

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LOCATIONO V E R V I E W

1814

1020N OXFORD AVE

THE CENTER OF

HOLLYWOOD

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Hollywood is experiencing an unprecedented amount of new development and rapid revitalization. In the past decade, many new redevelopment projects have been completed. The Hollywood and Highland complex, site of the Dolby Theater, which opened in 2001, has been a chief catalyst for the redevelopment in the area near Hollywood Boulevard. The neighborhood transforming Hollywood Millenium Development, the mixed-use Blvd 6200 building (bringing 535 apartments and retail space), the impressive Emerson College development, and a new Target complex with retail/restaurant space are all on the way in the imme-diate vicinity. Many older buildings have been turned into lofts and condominiums to satiate the growing number of residents in the area.

Hollywood is situated 7 miles west-northwest of Downtown Los Angeles, boasting a population of nearly 300,000 peo-ple. Providing the best in fine arts, live theater, concerts, and award winning shows, the area has created a milieu for ca-reer and job opportunities, fame, popular culture, and rich identity. Universally recognized as the entertainment capital of the world, Hollywood bears world-famous attractions like the El Capitan Theater, Hollywood Bowl, Paramount Stu-dios, Universal Studios, Grauman’s Chinese Theater, and the Capital Records building, among others. Surrounding these famous sites, numerous trendy bars, nightclubs, restaurants, and retail businesses have opened—solidifying Hollywood’s place as one of the best nightspots, greatest shopping loca-tions, and most exciting places to live and work.

One of a Kind...HOLLYWOOD

Hollywood is situated 7 miles west-northwest of Downtown Los Angeles, boasting a population of nearly 300,000 people. Providing the best in fine arts, live theater, concerts, and award winning shows, the area has created a milieu for career and job opportunities, fame, popular culture, and rich identity. Universally recognized as the entertainment capital of the world, Hollywood bears world-famous attractions like the El Capitan Theater, Hollywood Bowl, Paramount Studios, Universal Studios, The Chinese Theater, and the Capital Records building, among others. Surrounding these famous sites, numerous trendy bars, nightclubs, restaurants, and retail businesses have opened—solidifying Hollywood’s place as one of the best nightspots, greatest shopping locations, and most exciting places to live and work.

Hollywood is experiencing an unprecedented amount of new development and rapid revitalization. In the past decade, many new development projects have been completed. The Hollywood and Highland complex, site of the Dolby Theater, which opened in 2001, has been a chief catalyst for the redevelopment in the area near Hollywood Boulevard. The neighborhood transforming Hollywood Center development, the sleek new CIM Group project just two blocks away from The Oxford Hollywood is slated for 375 housing units, retail stores, restaurant spaces, 20,000 roof-top park within 370,000 sf of improvements. Many older buildings have been turned into lofts and condominiums to satiate the growing number of residents in the area.

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Hollywood is experiencing an unprecedented amount of new development and rapid revitalization. In the past decade, many new redevelopment projects have been completed. The Hollywood and Highland complex, site of the Dolby Theater, which opened in 2001, has been a chief catalyst for the redevelopment in the area near Hollywood Boulevard. The neighborhood transforming Hollywood Millenium Development, the mixed-use Blvd 6200 building (bringing 535 apartments and retail space), the impressive Emerson College development, and a new Target complex with retail/restaurant space are all on the way in the imme-diate vicinity. Many older buildings have been turned into lofts and condominiums to satiate the growing number of residents in the area.

Hollywood is situated 7 miles west-northwest of Downtown Los Angeles, boasting a population of nearly 300,000 peo-ple. Providing the best in fine arts, live theater, concerts, and award winning shows, the area has created a milieu for ca-reer and job opportunities, fame, popular culture, and rich identity. Universally recognized as the entertainment capital of the world, Hollywood bears world-famous attractions like the El Capitan Theater, Hollywood Bowl, Paramount Stu-dios, Universal Studios, Grauman’s Chinese Theater, and the Capital Records building, among others. Surrounding these famous sites, numerous trendy bars, nightclubs, restaurants, and retail businesses have opened—solidifying Hollywood’s place as one of the best nightspots, greatest shopping loca-tions, and most exciting places to live and work.

One of a Kind...HOLLYWOOD

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Echo Park 101 FwyDTLA Koreatown

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Land Area 1.36 sq. miles

Single Family Home Price $975,000

Single Family Home Price per sf $679

31% with College Degree

HOLLYWOOD

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1020N OXFORD AVE

HOLLYWOOD, CA 90029

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Virgil Village is a major arterial and intermodal thoroughfare

with significant amounts of daily bus, car, bicycle and pedestrian

traffic. This urban neighborhood is home to numerous small

businesses and multi-family residences. Through initial funding,

LANI assisted the Virgil Village community in developing a work

plan detailing area demographics, assets, need and priorities.

Funding to implement a portion of the community determined

improvement priorities was secured through the federally

funded Transportation Enhancement Act. The streetscape

improvements, completed in 2001, included decorative

pedestrian lights and crosswalks, trees and decorative tree

grates, sidewalk repair and bus shelters with access ramps.

In 2010 LANI secured funding through CALTRANS to conduct

a community conceptual planning process. The resulting

document now serves as a guide for the design development

and construction of physical improvements in Virgil Village. The

plan provides a traffic calming component and a streetscape

improvement plan with in-depth descriptions oof the

improvements agreed upon by the community including cost

estimates. Priority improvements include: plazas, additional

enhanced crosswalks, curb extensions, street trees and new

street furniture. The Office of Councilman Mitch O’Farrell,

Los Angeles City Council District 13, recently opened the Virgil

Village bike lane with much enthusiasm from the neighborhood.

The Los Angeles Chapter of the American Planning Association

recognized the Virgil Village Conceptual Plan with an award for

Public Outreach in 2012.

VIRGIL VILLAGE

This men’s clothing boutique inhabits a building off Virgil that used too be a motor scooter showroom. Now, they stock a range of new and vintage clothing and an eclectic assortment of homewares, objects, books and records. Dave says, “I like the stuff that Charlie stocks here. It’s smart and fun, and isn’t too serious. For lack of a better way to put it, it’s like ‘California lifestyle’—but very practical. You’re not gonna be that guy that kind of looks the part. They’re outfitting the people who would really walk around in that stuff.”

Just around the corner from Virgil Normal is Vinny’s Barber Shop. “I go to Vinny’s for a haircut every three weeks. I visit Charlie every time,” Dave says. As the story was told, Omar, the owner, got sick of working for other people and came up with a goal to start a business before he turned 30. It may have seemed ambitious given he was around 29 at the time, but he got to work and made it happen. Since then, Vinny’s has become a hit with the local guys.

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Locally, there are dozens of authentic restaurants, chill bars and shops at your fingertips: Sqirl is famous for its rice bowls and brioche toast, Square One, Go Get ‘Em Tiger and the new Friends & Family are great brunch/breakfast hangs, Jitlada is a local Thai favorite and The Virgil and are popular watering holes. The area is also becoming known for its backyard and street eats such as Burgers Never Say Die and Dave’s Hot Chicken conveniently located near the Tabula Rasa Bar.

VIRGIL VILLAGE

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L A K Es i l v e r

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1020 N Oxford Avenue is located blocks away from the core of three of the most enticing neighborhoods in Los Angeles County- Hollywood, Silver Lake, and Los Feliz. Due to its eclectic location and walkability, residents enjoy unparalleled access to a wide variety of employment, entertainment, and cultural experiences that few other neighborhoods in Los Angeles can match.

As part of its recent restoration, Hollywood continues to set the bar in terms of being a major employment center and highly sought after location for a younger more hip clientele that is looking for a true urban experience. Moreover, with the merging of old Hollywood and today’s tech savvy startups, the area is ripe for continued success in enticing a younger renter demographic.

Following this uprising of trendy and eclectic residents is a diverse base of restaurants, bars, nightclubs, and retail shops that bring a wide range of cultural experiences to the area. Within the existing location, residents have the opportunity to walk to nearby restaurants and cafes, take the metro into the heart of Hollywood, or spend the afternoon in an adjacent neighborhood via short commute.

Silver Lake SUNSET JUNCTION....

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M A R K E TC O M P A R A B L E S

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1)

2)

3)

4)

5)

6)

7)

8)

9)

10)

1250 N Mariposa Ave

4519 3/4-4441 Willow Brook Ave

901 Hyperion Ave

940 N Ardmore Ave

945 N Serrano Ave

1154 N Virgil Ave

5537 La Mirada Ave

1339 N Kenmore Ave

1223 N Kenmore Ave

523 N Serrano Ave

1020 N Oxford Avenue

RENTCOMPARABLES

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1 BEDROOM 2 BEDROOM 3 & 4 BEDROOM

Property UnitsYear Built Owner/Manager Rent

1020 N Oxford AvenueLos Angeles, CA 90029

10 1924 Private OwnerOwner Managed

$1,994.00 $2,371.50 3,426.80

1 6110 De Longpre AveLos Angeles, CA 90028


$2,295

2 4519 3/4-4441 Willow Brook AveLos Angeles, CA 90029


$2,300

3 901 Hyperion AveLos Angeles, CA 90029


$2,350

4 940 N Ardmore AveLos Angeles, CA 90029


$2,595

5 945 N Serrano AveLos Angeles, CA 90029


$2,495

6 1154 N Virgil AveLos Angeles, CA 90029


$2,700

7 5537 La Mirada AveLos Angeles, CA 90038

- 2019 Private OwnerOwner Managed

$2,450

8 1339 N Kenmore AveLos Angeles, CA 90027


$4,300

9 1223 N Kenmore Ave Los Angeles, CA 90029


$3,900

10 523 N Serrano AveLos Angeles, CA 90004


$3,500

AVERAGE: $2,315 $2,560 $3,900

HIGH: $2,350 $2,450 $4,300

LOW: $2,295 $2,700 $3,500

RENTCOMPARABLES

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1)

2)

3)

4)

6110 De Longpre Ave

5732 Waring Ave

1254-60 N Citrus Ave.

2027 Vista Del Mar St.

1020 N Oxford Avenue

SALESCOMPARABLES

5732 Waring Ave

6110 De Longpre Ave

1254 N Citrus Ave

2027 Vista Del Mar Ave

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SALESCOMPARABLES

PROPERTYYEAR BUILT UNITS BLDG SF PRICE CAP GRM $/UNIT CLOSED

1020 N Oxford AveLos Angeles, CA 90029

1924 10 5,100 $2,285,000 4.40% 15.6 $457,000 Active

16110 De Longpre AveLos Angeles, CA 90028

1921 4 4,632 $2,600,000 4.30% 6.18 $650,000 11/1/2019

25732 Waring AveLos Angeles, CA 90038

1988 5 3,800 $2,125,000 4.13% 15.34 $425,000 10/31/2018

31254-60 N Citrus Ave.Los Angeles CA 90038

1950 8 6,460 $4,000,000 3.6% 18.3 $500,000 8/30/2019

42027 Vista Del Mar St.Los Angeles 90068

1950 6 6,460 $2,800,000 4.7% 14.1 $466,666 1/8/2020

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1 0 2 0N O X F O R D A V E

Exclusively Listed by:

RICH JOHNSKW Commercial

Multifamily Investment AdvisorDirect: 818-432-1575 [email protected]

DRE Lic#01432215

NICK ASTRUPGAARDKW Commercial

Multifamily Advisor818.432.1580

[email protected]

DRE Lic #01893466

play video the oxford hollywood - loopnet · group project just two blocks away from the oxford...

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