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OFFERING MEMORANDUM

147 S. Doheny DriveLos Angeles, CA 90048

• Prime Location Adjacent To Beverly Hills• Great Unit Mix Of 2 Bedroom & 2 Bath Units - Plus One

Non Conforming Unit• Built As Condominiums With A Recorded Tract Map• Upside In Rents• Priced To Sell

147 S. Doheny Drive

CONTENTS

Rent Roll

Presented By

Errol Spiro

310.202.9166 Ext. 303Lic: [email protected] Executive Officer

Executive Summary45

Executive Summary Real Estate Investment DetailsPro Forma Summary 6

21-23

Rent Roll Detail 8 24

Photos and Maps101112-1314-19

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent thecurrent or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

Exterior Photos Interior Features MapsFloor Plans

Additional InformationBeverly Hills and Los Angeles

Rent ComparablesRental Comparables

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Executive SummaryExecutive SummaryReal Estate Investment DetailsPro Forma Summary

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EXECUTIVE SUMMARY

Brokering apartment investments for over 50 yearsThe above is for information only. Miller & Desatnik DOES NOT GUARANTEE the accuracy of this information sheet.

ACQUISITION COSTS

Purchase Price, Points and Closing Costs $17,500,000

Investment - Cash $8,500,000

First Loan $9,000,000

INVESTMENT INFORMATION

Purchase Price $17,500,000

Price per Unit $833,333

Price per Sq. Ft. $675.68

Income per Unit $45,166

Expenses per Unit ($14,565)

INCOME, EXPENSES & CASH FLOW

Gross Scheduled Income $948,480

Total Vacancy and Credits ($28,454)

Operating Expenses ($305,856)

Net Operating Income $614,170

Debt Service ($515,609)

Cash Flow Before Taxes $98,561

FINANCIAL INDICATORS

Cash on Cash Return Before Taxes 1.16%

Debt Coverage Ratio 1.19

Capitalization Rate 3.51%

Gross Rent Multiplier 18.45

Gross Income / Square Feet $36.62

Gross Expenses / Square Feet ($11.81)

Operating Expense Ratio 33.24%

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REAL ESTATE INVESTMENT DETAILS


Analysis

Analysis Date March 2017

Property

Property 147 S. Doheny - 21 Units

Property Address 147 S. Doheny DriveLos Angeles, Ca 90048

Year Built 2007

Financial Information

Down Payment $8,500,000

Purchase Information

Property Type MultiFamily

Purchase Price $17,500,000

Units 21

Total Rentable Sq. Ft. 25,900

Loans

Type Debt Term Amortization Rate Payment LO Costs

Fixed $9,000,000 30 years 30 years 4.0% $42,967

Income & Expenses

Gross Operating Income $920,026

Monthly GOI $76,669

Total Annual Expenses ($305,856)

Monthly Expenses ($25,488)

Contact Information

Errol Spiro

310.202.9166

[email protected]

00893163

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PRO FORMA SUMMARY


UNIT MIX & MONTHLY SCHEDULED INCOME

Type Units Actual Total Market Total

2+2 20 $3,860 $77,190 $4,230 $84,595

Single 1 $1,850 $1,850 $1,950 $1,950

TOTALS 21 $79,040 $86,545

ANNUALIZED INCOMEActual Market

Gross Potential Rent $948,480 $1,038,540

Less: Vacancy ($28,454) ($31,156)

Effective Gross Income $920,026 $1,007,384

Less: Expenses ($305,856) ($305,856)

Net Operating Income $614,170 $701,528

Debt Service ($515,609) ($515,609)

Net Cash Flow after Debt Service $98,561 $185,919

Principal Reduction $158,493 $158,493

Total Return $257,054 $344,413

ANNUALIZED EXPENSES

Actual MarketEstimated Expenses $305,856 $305,856

Total Expenses $305,856 $305,856

Expenses Per RSF $11.81 $11.81

Expenses Per Unit $14,565 $14,565

INVESTMENT SUMMARY

Price: $17,500,000

Year Built: 2007

Units: 21

Price/Unit: $833,333

RSF: 25,900

Price/RSF: $675.68

Lot Size: 11,142 sf

Floors: 4

Parking Spaces: 50

APN: 4335-007-122

Cap Rate: 3.51%

Market Cap Rate: 4.01%

GRM: 18.45

Market GRM: 16.85

FINANCING SUMMARY

Loan Amount: $9,000,000

Down Payment: $8,500,000

Loan Type: Fixed

Interest Rate: 4%

Term: 30 years

Monthly Payment: $42,967

DCR: 1.19

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147S.DohenyDr.LosAngeles,CA90048

RentRoll.

unit# unitmix Sq.Ft. RentAsof5/1/17 Proj.rent comments100 Single 1,850$ 1,950$ nonconform101 2+2 1,096 3,595$ 3,950$102 2+2 1,173 3,995$ 4,200$103 2+2 1,158 3,450$ 4,100$104 2+2 1,215 3,845$ 4,350$105 2+2 1,110 3,695$ 4,050$201 2+2 1,096 4,000$ 4,000$ proj.202 2+2 1,173 3,500$ 4,250$203 2+2 1,158 4,000$ 4,000$204 2+2 1,215 3,895$ 4,400$205 2+2 1,110 3,795$ 4,150$301 2+2 1,096 4,050$ 4,050$ mgr302 2+2 1,173 3,945$ 4,300$303 2+2 1,158 3,850$ 4,200$304 2+2 1,215 3,795$ 4,450$305 2+2 1,110 3,795$ 4,200$PH1 2+2 1,096 4,295$ 4,295$PH2 2+2 1,173 3,650$ 4,350$PH3 2+2 1,158 3,995$ 4,400$PH4 2+2 1,215 3,750$ 4,500$PH5 2+2 1,110 4,295$ 4,400$ proj.

Monthly 79,040$ 86,545$

Annual 948,480$ 1,038,540$

23,008 3.43/sq.ft. 3.76/sq.ft.

Rent Roll

3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm

147 S. Doheny Drive, Los Angeles, CA 90048

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Photos & Maps

Exterior PhotosInterior FeaturesMapsFloor Plans 14

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Exterior Photos• Adjacent To Four Seasons Hotel• 5 Floors• 50 Parking Spots• Built in 2007• Individual water heaters for each unit


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Interior Features


• Wood Floors• Stainless Steel Appliances• Pre-Wirse Alarm System

• Granite Counter tops• Cental Air• In-Suite Washer & Dryer

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147 S. Doheny Drive

LACMA

147 S. Doheny Drive

• 5 Minutes to Rodeo Drive

• Blocks from The Sunset Strip

• Adjacent to Beverly Hills

• Steps away from The Four Seasons Hotel

• Close Proximity to Many Restaurants

Los Angeles, CA 90048

147 S. Doheny DriveLos Angeles, CA 90048

147 S. Doheny Drive

Four Season

Culian Modern Italian

Ralph’s

Spago

Rodeo Drive

Sunset StripHollywood

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LOCATION MAP


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Rental Comparables

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Rent Comparables


Unit Mix : 2 BR + 2 Bath

Square Feet: 1,200

Asking Rent: $ 4,995

Rent Per SF:

230 Hamilton - Beverly HillsUnit Mix: 2 BR + 2 Bath

Square Feet 1,363 Asking Rent $ 4,895

Rent Per SF: $ 3.59

120 S Orlando A ve - Los Angel esUnit Mix: 2 BR + 2 BathSquare Feet 1,147Asking Rent $ 3,695

Rent Per SF: $3.22

8600 Burton Way - Los Angeles

$3.57

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Rent Comparables


: $3

:

1,470

$3

$2

es

S

$

133 S. Oakhurst Drive - Beverly Hills

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Rent Comparables


Unit Mix : 2 BR + 2 Bath

Square Feet: 1,247

Asking Rent: $ 3,995

Rent Per SF:

100 S Doheny Dr. - Los AngelesUnit Mix: 2 BR + 2 Bath

Square Feet 1,247 Asking Rent $ 3,995

Rent Per SF: $ 3.20

339 N Oakhurst Drive- Beverly HillsUnit Mix: 2 BR + 3 BathSquare Feet 1,790Asking Rent $ 4,505

Rent Per SF: $3.78

326 S Swall Drive - Los Angeles

$3.20

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Los Angeles & Beverly HillsIt’s easy to fall in love with Beverly Hills and its

surrounding neighborhoods. 147 S Doheny is in close

proximity to the world-renowned shopping along

famed Rodeo Drive. Located perfect between Century

City and West Hollywood the location provides an

endless amount of restaurants, stores and many other

attractions. This palm tree covered street is what

people imagine when living and moving to Los

Angeles. 147 S. Doheny is truly in an A+ location!

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Exclusive Listing Agent

Errol Spiro

310.202.9166 Ext. 303Lic: [email protected] Executive Officer

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