6833 Sepulveda Boulevard Van Nuys CA 91405
6833 Sepulveda Boulevard 1 ™ OFFERING MEMORANDUM VAN NUYS, CA 91405 CA NUYS, VAN
SEPULVEDA BOULEVARD SEPULVEDA 6833 2 6833 Sepulveda Boulevard LIC# BRE01325901 [email protected] Mobile + Direct +8189236107 Senior Vice President -Multifamily Exclusively ListedBy DANIEL W. WITHERS 310 3655054
™ 6833 Sepulveda Boulevard 3 14 inancial Overview F 08 ocation Overview L OFFERING MEMORANDUM OFFERING VAN NUYS, CA 91405 CA NUYS, VAN
SEPULVEDA BOULEVARD SEPULVEDA 6833 04 roperty Overviewroperty P 4 6833 Sepulveda Boulevard ™ PROPERTY OVERVIEW 04 6833 Sepulveda Boulevard 5 Elevators Laundry Facility On-Site Pool Access / Controlled Gated Courtyard 56 1967 32,082 ±0.64 2234-024-010 Flat / Stucco Frame AREA AMENITIES COMMON • • • • • roperty Summaryroperty Air Conditioned-Units Fans Ceiling Stove Disposals Closets Spacious P Unit Amenities Unit UNITS YEAR BUILT SF TOTAL SITE ACREAGE NUMBER(S) PARCEL ROOFS EXTERIOR UNIT AMENITIES • • • • •
Great In-fill San Fernando Valley Location Valley Fernando San In-fill Great Rents Upside in Significant and Pool with Courtyard Access Entry Controlled Laundry Facility On-site Plans Floor Unit and Spacious On-site Elevator Entertainment and Employment, to Freeways, Proximity Close roperty Highlights roperty roperty Description roperty
P P • • • • • • 6833 Sepulveda Boulevard offers tenants controlled access entry, an elevator, laundry an elevator, access entry, offers tenants controlled 6833 Sepulveda Boulevard well-maintained fenced- and open parking for over 55 cars and a tuckunder secured facility, tile bath / showers, have laminate flooring, in swimming pool. Several of the unit interiors outside the bathrooms. wall air conditioners, and vanity / sitting areas 6833 Sepulveda Boulevard is a 56-unit, three-story, three building property built in 1967 built in 1967 building property three is a 56-unit, three-story, 6833 Sepulveda Boulevard flat of wood frame with stucco exterior and Constructed setting. with an inviting courtyard feet square buildings total 32,082 shingles on the side, the three with composition roofs which is zoned for LAR3. foot lot, square and sit on a 27,878 offers a great property The unit and one units, one studio / one-bathroom / one-bathroom unit mix of 54 one-bedroom for gas, electricity, individually metered is property unit. The / one-bathroom two-bedroom for water. and master metered 6 6833 Sepulveda Boulevard L R ocal Map egional Map 6833 6833 N N P roperty Aerial 8 6 3 2 7 1 Starbucks, Mobil, Metro PCS, Poke Rainbow, Kinnara Thai, AmarinyoGelato McDonald’s, WaBa Grill, Van Nuys Express Wash, Rent-A-Wheel Jon’s Marketplace, Bank ofAmerica,Chase Bank, Good Wok Columbus Avenue School Wingstop, Baskin Robbins, Subway, Dollar King, Rose Bakery, Dazzle Hair &Nail Spa 7-Eleven, Domino’s Pizza, Gugu’s Tacos, USACappuccino Donut VANOWEN STREET 4 Valley Presbyterian Hospital 6833 8 7 1
SEPULVEDA BOULEVARD 5 2 6 3 4 5 CVS N 6833 Sepulveda Boulevard 7
N VANOWEN STREET VANOWEN 43 41 17 18 19 6833 36 9 35 21 8 22 7 23 6 24 PEACH AVENUE PEACH 5 25 SEPULVEDA BOULEVARD SEPULVEDA 4 26 27 3 30
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1 31 32 33 34 29 Parcel Map Parcel 8 6833 Sepulveda Boulevard ™ LOCATION OVERVIEW 08 6833 Sepulveda Boulevard 9 Los Angeles Valley College, located four miles from Sepulveda Gardens, is a two- Sepulveda Gardens, from located four miles College, Angeles Valley Los students. than 19,080 year public college with more located seven miles northwest (CSUN), Northridge University, State California jobs in the region. and indirect direct than 8,400 sustains more of the property, university students and is the fourth-largest of 39,920 CSUN has an enrollment schools. among all California include Columbus residents public schools serving Sepulveda Gardens’ Nearby School (6-12). Preparatory College Fulton and Robert School (K-5) Avenue decreasing to decreasing to improve, continues Angeles County Los unemployment rate in The year. points over the previous in April of 2017, down 80 basis 4.5% people by 1,665,168 is expected to reach Valley population in San Fernando The by 4.2% over the next five years. growing 2022, household income is projected the median Gardens, miles of Sepulveda three Within median income of over the current 10.5% increasing by 2022, to surpass $53,400 $48,330. as 91405 was $530,000 Code the median home price in ZIP According to Zillow, one year prior. from by 9.5% 2017, increasing of May EDUCATION KEY DEMOGRAPHICS & STATISTICS & DEMOGRAPHICS KEY HEALTHCARE • • • • • • • the located less than four miles from Center, Medical City Panorama Permanente Kaiser nearby employees. Other and 2,100 is a 218-bed hospital with 260 physicians property, Center, Medical Hospital Encino Hospital, Oaks facilities include Sherman healthcare Center. Medical Hospital and Northridge Center, Medical Tarzana Providence
dios Hollywood. Residents of Sepulveda Gardens have the opportunity to choose from numerous numerous to choose from have the opportunity of Sepulveda Gardens Residents and entertainment venues that abound the area. shopping, dining, this miles south of the property, located less than three Galleria, Oaks Sherman retail space, four office buildings, features lifestyle center million-square-foot 1.0 and entertainment venues. restaurants, this indoor less than a mile north of the property, located Mall, Panorama than 60 shops, restaurants, more shopping center features 314,300-square-foot and Curacao. Anchors include Walmart and specialty stores. is an property, located five miles south of the Fashion Square, Westfield and restaurants. two-level mall boasting nearly 230 stores 850,000-square-foot America, of Bank Bank, Chase & Final, Smart conveniences include Ralphs, Local and CVS Pharmacy. Mountain, Magic Flags Six Hills, in Beverly Drive attractions include Rodeo Area Brothers. Warner Studios, Disney Walt and Universal Sign, Hollywood NBC Universal, Studios, Burbank The Studios, Stu ocation Description L RETAIL, LEISURE, AND ENTERTAINMENT AND LEISURE, RETAIL, • • • • • • • Sepulveda Gardens is ideally located near the intersection of Sepulveda Boulevard and intersection of Sepulveda Boulevard is ideally located near the Sepulveda Gardens access easy With Hospital. Presbyterian Valley short distance from a Street, Vanowen the popular beaches from is located just 30 minutes the property and I-405, to I-5 business district of the central from Coast to the west and 45 minutes along the Pacific Angeles. Los Downtown 10 6833 Sepulveda Boulevard • • • • allowsforaneasycommutetoemploymenthubsthroughout Losservice AngelesCounty. central SanFernando Valley andconvenientaccesstoInterstate 405orMetrolink rail largest MSAintheUnited States. The cityofVan Nuys isathrivingcommunitywithin Anaheim MSA,the13th-mostpopulatedmetropolitan area intheworldandsecond- Van Nuys islocatedinLos AngelesCounty andpartoftheLos Angeles-Long Beach- E conomic Snapshot businesses includingHealth Net, AnthemBlue Cross, andAjilonFinance. Approximately 40,000 employeesworkwithintheWarner Center area atmajor and industrieswithaconcentrationinhealthcare, financial,andprofessional services. 20 minuteswestoftheproperty. Warner Center containsadiversemixofcompanies Warner Center, knownasthe“Downtown oftheValley,” isaregional centerlocated construction andproduction jobs,andcreate 12,000 newpermanentpositions. This entire project willhaveaneconomicimpactof$6.3billion,supporting31,000 NBC Universal’s $1.6 billionEvolution Plan atits391-acre Universal City campus. Located lessthan20minutesfrom theproperty, construction isprogressing on 10,480 jobsdirectly andgeneratinganearningsimpactof$707 million. more than$2billionannuallytotheSouthernCalifornia economy, supportingover over 100 businesseslocatedinthe730-acre airport,VNYhasaneconomic impactof anestimated320,000general aviationairportsserving passengersperyear. With role in theSouthernCalifornia airportsystemandranksasoneoftheworld’sbusiest Van Nuys locatedtwomilesnorthwest oftheproperty, Airport(VNY), playsacrucial more than500physicians,situatedwithinwalkingdistanceoftheproperty. Valley Presbyterian Hospital isa350-bedgeneralmedicalandsurgical hospitalwith 6833 Sepulveda Boulevard 11 nation and an Fernando Valley an Fernando S BEST REGIONAL UNIVERSITY REGIONAL BEST 500 FORTUNE ECONOMIC ENGINE ECONOMIC The San Fernando Valley is an urbanized valley in Los Angeles County, defined by the defined County, Angeles valley in Los is an urbanized Valley San Fernando The is north of the LA it. It to and home circling Basin Ranges mountains of the Transverse live, work, and play and celebrities is where Valley San Fernando million people. The 1.8 opportunities tremendous are suburbs and mini-malls. There is made up of gorgeous fun, and has everything valley food, great great from The for dining and entertainment. shopping. great Line, coming Red Metro located and easily accessible. The is conveniently region The Angeles Los City. and Universal Hollywood stops in both North Downtown from as well. both in close proximity are airport in Burbank Hope and Bob international airport companies, the most well-known of which work is home to numerous Valley The major Valley’s The and television production. music recording, in motion pictures, and Company, Disney Walt The NBC Universal, Center, employers include CBS Studio of a significant amount of the movies business has brought presence The Bros. Warner is home Studios Universal making that another important industry. tourism to the valley, and a full-scale theme park, CityWalk to an entertainment and dining district, called opportunity to see locations The lot tour. and a studio back complete with ride, live show, to other as well as the proximity shot in the area, many famous films that were from Fernando the San Ocean also make and the Pacific Hollywood major tourist sites, like a popular destination for travelers. Valley generates $2 billion for San Fernando Valley’s economy, while supporting 10,480 jobs. while supporting 10,480 economy, Valley’s generates $2 billion for San Fernando in Universities Regional among the “Best ranked Northridge University State California the West”. Co. Disney Walt 500 headquarters: The Fortune is home to three Valley San Fernando Insurance. 172), Farmers (No. Inc. Net, Health 53), (No. Van Nuys Airport is the second-busiest general aviation airport in the Airport is the second-busiest Nuys Van 12 6833 Sepulveda Boulevard D 2017 Estimate 2010 Census POPULATION 2022 Projection 2017 Estimate Percent Change: 2010 to 2017 POPULATION GROWTH Percent Change: 2010 to2017 FAMILY HOUSEHOLDGROWTH 2000 Census 2010 Census FAMILY HOUSEHOLDS 2000 Census HOUSEHOLDS Percent Change: 2010 to 2017 HOUSEHOLD GROWTH Percent Change: 2017to2022 Average Household Income INCOME Percent Change: 2017 to2022 Percent Change: 2017to2022 2022 Projection 2017 Estimate Median Household Income emographics 57,463.00 39,274.83 1 MILE 49,862 10,260 10,784 47,581 51,835 16,720 4.55% 5.86% 17,481 3.96% 4.79% 11,236 15,791 4.19% 5.11% 47,468.59 71,775.00 102,580 106,902 298,810 3 MILE 313,906 327,118 65,689 68,732 96,567 71,549 5.05% 4.63% 4.87% 4.10% 4.21% 4.21% 83,463.00 55,197.89 706,363 229,946 741,004 5 MILE 771,600 162,868 156,037 256,137 169,331 245,911 4.90% 4.38% 4.73% 3.97% 4.16% 4.13% 4.2% overthenext Valley’s population is forecast togrow San Fernando OF SANFERNANDOVALLEY WORKERS AREIN 5 years 1.7M MOST POPULATED COUNTY INTHEU.S.MOST POPULATED COUNTY MEDIAN AGE INTHEVALLEY WHITE-COLLAR POSITIONS years andolderholda bachelor’s degree or higher, compared to 31% ofresidents 25 (L.A. COUNTY) 29% nationally 63% 37.6 332.6k #1 $69,123 by2022, up is projected toreach The Valley’s median household income 10.4% from 2017 $69.1k 6833 Sepulveda Boulevard 13 6833 TRANSPORTATION Located just 2 miles from the subject property, the Valley’s heavily used metro line is expected heavily used metro the Valley’s the subject property, just 2 miles from Located peaking at 29,000 the Valley, million passengers across Line sees 74 Bus Orange to see upgrades in the years to come. The commuters. daily weekday which would serve the CSUN campus, that already Valley is considering rapid bus line in northern San Fernando Metro is looking to speed up the nearly 15-miles bus rapid transit line from car trips per week. Metro generates nearly 200,000 and in the southern part of the Valley transformed transit Line has already Orange The Center. to Warner Hollywood North lacking in high-capacity service. in the valley that are will continue to bring new commuting options to areas Hills to Woodland from offices and malls shuttle bus that would stop at numerous Center a Warner has also proposed Metro M sales tax in November. by the passage of the Measure approved Line were All upgrades for the Orange Park. Canoga 14 6833 Sepulveda Boulevard ™ FINANCIAL OVERVIEW 14 6833 Sepulveda Boulevard 15 9.38 $1,250 $1,700 $1,499 $1,500 4.10% Market GRM Market Market Rent Market $15,000 $20,400 $972,000 Interest Rate $1,007,400 Annual Market Rent Annual Market 12.21 Current GRM $1,391 $1,149 $1,152 $1,100 Current Rent $27,542.31 $1,250 $1,700 $81,000 $83,950 Monthly Payment 6.99% Market Cap Rate Monthly Market Rent Monthly Market 500 800 30,780 32,080 Total SF Total LTV 60% Rate 4.72% Current Cap Current Cap $16,692 $13,200 $774,120 $744,228 573 570 500 800 Est. Unit SF Annual Current Rent $/Foot $294.56 $3,782,435 Down Payment Type Studio 2 Bed /1 Bath 2 Bed 1 Bed / 1 Bath 1 Bed $1,391 $1,100 $62,019 $64,510 $/Unit $168,750 Monthly Current Rent
1 1 56 54
Units $5,667,565 ap Rate and GRM Analysis and GRM ap Rate nit Mix ssumable Financing Loan Amount Loan 1.8% 1.8% List Price 96.4% $9,450,000
Unit Mix A
U C *Buyer may purchase property with new loan. Buyer to pay prepayment penalty and any other fees associated with to pay prepayment with new loan. Buyer property may purchase *Buyer loan. paying off current is 1% paid by Buyer Fee *Assumption 16 6833 Sepulveda Boulevard R Unit# 104 108 106 109 105 103 102 107 101 110 114 118 119 116 115 113 112 117 111 ent Roll Unit Type Studio 2X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 Actual Rent $1,350.00 $1,350.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,1170.08 $1,100.00 $1,287.50 $1,150.00 $1,150.00 $1,061.90 $900.00 $1,166.99 $1,391.13 $983.45 Unit# 204 208 206 209 205 203 202 207 201 120 210 214 218 216 215 213 212 217 211 Unit Type 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 Actual Rent $1,300.00 $1,300.00 $1,350.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,040.93 $1,020.53 $1,287.50 $1,184.50 $1,012.95 $895.00 $1,021.91 $930.89 $985.38 $928.07 $836.91 Unit# 304 308 306 309 305 303 302 220 307 301 310 314 316 219 313 315 312 311 Unit Type 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 1X1 Actual Rent $64,510.21 $1,300.00 $1,300.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,069.24 $1,287.50 $1,287.50 $1,076.12 $950.00 $983.45 $704.95 $956.68 $956.68 $98345 $1,250 6833 Sepulveda Boulevard 17 $5,918 $2,541 $2,541 33.41% $1,500 $3,595 $3,595 $3,599 $3,599 $6,220 $6,260 $2,680 $2,680 $2,460 $2,460 $2,460 $5,050 $10,616 $12,832 $52,758 $17,000 $39,682 $112,625 $14,000 $977,178 $977,178 $50,400 $331,403 $430,145 $430,145 $992,053 $992,053 $660,650 ($30,222) $1,007,400 $1,007,400 Market Proforma Market $3,769 $5,758 41.96% $1,500 $3,595 $2,554 $6,220 $6,260 $2,680 $2,460 $5,050 $5,084 $10,616 $12,832 $52,758 $17,000 $30,743 $112,625 $14,000 $215,610 $215,610 $774,120 $446,115 $50,400 $768,578 $322,464 $750,896 $750,896 ($23,224) Current Actuals $111 $27 $112 $44 $90 $190 $229 $942 $549 $250 $304 $900 5.70% $2,011 3.00% % of SGI Per Unit: Per Per Unit Per Misc and Reserves Misc Real Estate Taxes 1.1918% Taxes Estate Real Insurance Insurance Gardner Gardner Trash / Telephone / Telephone Trash Pest Control Pest On-Site Management On-Site Pool Off-Site Management Fee 4.00% Management Off-Site Repairs & Maintenance & Maintenance Repairs Utilities Utilities Control Pest Elevator Elevator Pro Forma Annual Operating Expenses Operating Annual Forma Pro Estimated Expenses Income Total Expenses Total Return Total Net Operating Income Operating Net Total Operating Income (EGI) Income Operating Total Plus: Misc. Income Misc. Plus: Plus: Parking Income Parking Plus: Laundry Plus: Plus: RUBS Plus: Less: Vacancy Scheduled Market Rent Market Scheduled Income Rental Net Enforcement Code Systematic Plus: 18 6833 Sepulveda Boulevard 6833 S Unit Mix Van Nuys, CA91405 6933 Sepulveda Blvd Unit Mix 5 Van Nuys, CA91405 6833 SepulvedaBoulevard Subject Property Studio 3/1.0 1/1.0 Cap Rate Closed On: Sold for Price/SF Price/Unit Units Built Two Bedroom One Bedroom Studio Cap Rate List Price Avg SF Price/SF Price/Unit Units Built ales Comparables 3.76% 9/31/17 $3,060,000 $218.87 $170007 18 1957 2% 96% 2% 4.72% $9,450,000 573 $294.56 $168,750 56 1967 17% 6% 77% 6 Unit Mix Van Nuys, CA91411 14766 Delano St Unit Mix Van Nuys, CA91401 13907 Oxnard St 1 2/1 1/1.0 Studio/1.0 Cap Rate Closed On: Sold for Price/SF Price/Unit Units Built Studio 4/2.00 2/1.0 1/1.00 Cap Rate: Closed On: Sold for Price/SF Price/Unit Units Built 16% 78% 6% - 10/24/2017 $3,150,000 $291.67 $175,000 18 1961 20% 2.00% 30% 50% 3.74% 10/6/17 $10,875,000 $242.25 $217,500 50 1964 7 Van Nuys, CA91405 14929 Vanowen Street Van Nuys, CA91406 15749 Vanowen St Unit Mix Unit Mix 2 Cap Rate: Closed On: Sold for Price/SF Price/Unit Units Built 2/1.0 Cap Rate Closed On: Sold for Price/SF Price/Unit Units Built 2/1.0 1/1.0 4.61% 9/29/2017 $2,850,000 $223.97 $190,000 15 1963 100% 4.62% 2/10/2017 $2,700,000 $228.19 $180,000 15 1953 40% 60% 8 3 Van Nuys, CA91423 4427 Woodman Ave Van Nuys, CA91405 7240 Woodman Ave Unit Mix Unit Mix 2/1.0 1/1.0 Cap Rate Closed On: Sold for Price/SF Price/Unit Units Built Studio 3/1.0 2/1.0 1/1.0 Cap Rate: Closed On: Sold for Price/SF Price/Unit Units Built 40% 60% 4.08% 10/18/17 $4,300,000 $360.22 $286.66 15 1953 11% 11% 66% 11% - 2/24/12 $3,100,000 $193.03 $172,222 18 1952 4 9 Van Nuys, VA 91401 5922 Woodman Avenue Panorama City, CA91402 14696 Rayen Street Unit Mix Closed On: Sold for Avg SF Price/SF Price/Unit Units Built Cap Rate Sold for Price/SF Price/Unit Units Built 3/1.0 2/2.0% 1/1.0 Studio/1.0 6/27/2017 $1,995,000 $234.65 $199,500 10 1964 5.20% $4,700,000 $238.07 $174,074 27 1964 3.7% 66.7% 25.9% 3.7% 6833 Sepulveda Boulevard 19 170 3 9 6 1 8 4 7 5
6833 2 ales Comparables Map ales Comparables S 20 6833 Sepulveda Boulevard R 6833 4 2 ent Comparables Property Summary Unit Mix Breakdown Van Nuys, CA91405 6833 SepulvedaBoulevard Subject Property Unit Mix Breakdown Built Units Distance (mi) Van Nuys, CA91405 15210 -15220Sherman Way Unit Mix Breakdown Van Nuys, CA91405 7317 SepulvedaBoulevard Property Summary 2 Bed /1Bath 2% 1 Bed /1Bath 96% Studio /1Bath 2% Built Units 1Bed /1Bath 35% Studio /1Bath 65% Property Summary 2 Bed /1Bath 51% 1 Bed /1Bath 49% Built Units Distance (mi) 1967 56 1963 136 0.45 1968 57 0.60 Unit Mix &Rent Schedule Unit Mix &Rent Schedule Unit Mix &Rent Schedule Units Units Units 136 88 54 39 56 28 29 57 9 1 1 0/1.00 0/1.00 2/1.00 1/1.00 1/1.00 1/1.00 2/1.00 1/1.00 Type Type Type 800 800 600 500 500 549 570 573 803 705 897 SF SF SF Asking Rent Asking Rent Asking Rent $1,448 $1,500 $1,483 $1,700 $1,506 $1,250 $1,562 $1,410 $1,365 $1,776 $2,173 Rent/SF Rent/SF Rent/SF $2.50 $2.42 $2.63 $2.64 $2.82 $2.13 $1.95 $2.51 $2.42 $2.21 1.94 5 3 1 Property Summary Unit Mix Breakdown Built Units Distance (mi) Van Nuys, CA91411 5424 SepulvedaBoulevard Unit Mix Breakdown Van Nuys, CA91411 6220 LemonaAvenue Van Nuys, CA91405 6841 SepulvedaBlvd 2 Bed /1Bath 47% 1 Bed /1Bath 53% Property Summary Property Summary Built Units Distance (mi) 2 Bed /1Bath 20% 1 Bed /1Bath 80% Built Units Distance (mi) 1963 76 1.77 1963 60 0.1 1962 50 0.90 Unit Mix &Rent Schedule Unit Mix &Rent Schedule Unit Mix &Rent Schedule Units Units Units 76 10 10 40 50 16 12 49 12 49 10 8 8 2/1.00 2/1.00 2/1.00 1/1.00 1/1.00 1/1.00 1/1.00 2/1.00 1/1.00 1/1.00 Type Type Type 1,000 1,075 1,000 1,150 850 650 685 892 795 700 550 550 625 SF SF SF Asking Rent Asking Rent Asking Rent $2,203 $2,203 $2,103 $1,826 $1,626 $1,500 $1,400 $1,460 $1,676 $1,941 $1,500 $1,776 $1,700 Rent/SF Rent/SF Rent/SF $2.00 $2.50 $2.05 $2.45 $2.23 $2.00 $2.10 $2.18 $2.09 $2.15 $2.24 $2.72 $1.70 6833 Sepulveda Boulevard 21 $1.67 $1.74 $2.13 $1.67 $1.98 Rent/SF Rent/SF $1,613 $1,595 $1,695 $1,695 $1,650 Asking Rent Asking Rent SF SF 817 750 950 1,015 1,015 Type Type 1/1.00 1/2.00 2/2.00 8 4 16 12 16 Units Units Unit Mix & Rent Schedule Rent & Mix Unit Schedule & Rent Mix Unit 1.86 12 1978 0.52 16 1953 2 Bed / 1 Bath 100% / 1 Bath 2 Bed (mi) Distance Units Built 67% / 1 Bath 1 Bed 33% / 2 Bath 2 Bed Distance (mi) Distance Units Built Property Summary Property Property Summary Property Unit Mix Breakdown Mix Unit Breakdown Mix Unit 6937 - 6943 Kester Avenue Kester 6937 - 6943 CA 91405 Nuys, Van Way 13846 Sherman CA 91401 Nuys, Van 7 9 170 $1.73 $1.65 $1.65 $1.89 $1.96 $1.94 $2.29 Rent/SF Rent/SF 9 $1,662 $1,410 $1,032 $1,445 $1,650 $1,452 $1,360 Asking Rent Asking Rent 8 7 5 SF SF 721 875 878 954 700 450 880 6 4 3 2 1 Type Type 1/1.00 1/1.00 2/1.00 0/1.00 2/2.00 1 21 61 10 30 30 6833 136 Units Units Unit Mix & Rent Schedule & Rent Mix Unit Unit Mix & Rent Schedule Rent & Mix Unit 1.28 31 1959 0.07 61 1970
1 Bed / 1 Bath 97% / 1 Bath 1 Bed 3% / 1 Bath 2 Bed 14410 Valerio Street Valerio 14410 CA 91405 Nuys, Van 15343 Vanowen Street 15343 Vanowen CA 91406 Nuys, Van ent Comparables Map ent Comparables Distance (mi) Distance Units Built Distance (mi) Distance Units Built 16% 1 Bath / Studio 49% / 1 Bath 1 Bed 35% / 2 Bath 2 Bed Unit Mix Breakdown Mix Unit Property Summary Property Property Summary Property Unit Mix Breakdown Mix Unit R 6 8 22 6833 Sepulveda Boulevard the PropertysincedatethisOfferingMemorandum. This OfferingMemorandumshallnotbedeemedtorepresent thestateofaffairsPropertyorconstituteanindicationthattherehasbeennochangein or agentsforanydamages,liability, orcausesofactionrelatingtothissolicitationprocessthemarketing orsaleoftheProperty. any otherclaimsagainstSellerorMatthewsReal EstateInvestmentServicesorany oftheiraffiliatesoranyrespectiveofficers,Directors,shareholders,owners,employees, Property shallbelimitedtothoseexpresslyprovidedin anexecuted PurchaseAgreementandshallbesubjecttothetermsthereof. Innoeventshallaprospectivepurchaserhave A prospectivepurchaser’s soleandexclusive rightswithrespect to thisprospectivetransaction,theProperty, orinformationprovidedhereinin connection withthesaleof to thisPropertyincludingOfferingMemorandum. If youwishnottopursuenegotiationsleadingtheacquisition ofthePropertyorinfutureyoudiscontinuesuchnegotiations,thenagreetopurgeallmaterialsrelating agreement forthepurchaseandsaleofPropertyhasbeenfullyexecuted and delivered. the PropertyandtoterminatediscussionswithanypersonorentityreviewingthisOfferingMemorandum making anoffertopurchasethePropertyunlessanduntilawritten Owner andMatthewsReal Estate InvestmentServicesexpresslyreservetheright,attheirsolediscretion,torejectanyandallexpressionsofinterestorofferspurchase By acknowledgingyourreceiptofthisOfferingMemorandumfortheProperty, youagree: own duediligence. respect thereto. Prospectivepurchasersshould make theirownprojectionsandformconclusionswithoutrelianceuponthematerialcontainedhereinconduct or warranty, expressorimplied,astotheaccuracycompletenessofthisOfferingMemorandumanyitscontentsandnolegalliabilityisassumedshallbeimplied with supplied bytheSellerandinpartuponfinancialinformationobtainedfromsourcesitdeemsreliable. Owner, northeirofficers,employees,oragentsmakes anyrepresentation purpose ormadeavailabletoanyotherpersonwithoutthewrittenconsentofSellerMatthewsReal EstateInvestmentServices.Thematerial isbasedinpartuponinformation contained inthisOfferingMemorandumisconfidentialandfurnishedsolelyforthepurposeofareviewbyprospective purchaseroftheProperty. Itisnottobeusedforanyother Matthews Real EstateInvestmentServices.ThisOfferingMemorandummaynotbeall-inclusiveorcontainalloftheinformationaprospectivepurchaser maydesire. Theinformation This OfferingMemorandumcontainsselectinformationpertainingtothebusinessandaffairsof 3. 2. 1. of theSeller. You willnot,directlyorindirectly, discloseorpermitanyoneelsetothisOfferingMemorandumitscontentsinanyfashionmannerdetrimentaltheinterest You willholditandtreatinthestrictestofconfidence; The OfferingMemorandumanditscontentsareconfidential; ™ 6833 SepulvedaBoulevard|Van Nuys,CA 91405(“Property”) . Ithasbeenpreparedby OFFERING MEMORANDUM 6833 SEPULVEDA BOULEVARD VAN NUYS, CA 91405
Exclusively Listed By
DANIEL W. WITHERS Senior Vice President - Multifamily Direct +818 923 6107 Mobile +310 365 5054 [email protected] LIC# BRE 01325901
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