EXCLUSIVE MULTIFAMILY OPPORTUNITY 1421sShenandoahSt.com
1421 S Shenandoah St, Los Angeles CA 90035 Offering Price: $2,900,000
PRIME PICO ROBERTSON CalDRE 02004120
Adrian Stepien Jonathan Prakash Derrick Vartanian Senior Investment Associate Executive Managing Director, Partner Executive Managing Director, Partner 310.301.2352 | [email protected] 310.301.2351 | [email protected] 310.301.2353 | [email protected] In Association with KW Commercial DRE: #01979555 DRE: #01483131 DRE: #01816119 INVESTMENT HIGHLIGHTS LOCATION HIGHLIGHTS • SELLER MAY CARRY FINANCING • Prime Pico-Robertson District Location • Exceptional Unit Mix: One (3BR + 2BA), One (2BR + 2BA), • A Walkers Paradise - Boasts a Walk Score of 93! One (2BR + 1.5BA), Two (1BR +1 BA) • Located in a Tier 3 TOC Zone • Incredible Value-Add Opportunity | 49% Potential Rental Upside • High Rental Demand Area | Average Household Income of • Owned On-Site Laundry | Gated Entry | Communal BBQ Area $117,000 • Twelve (12) Parking Spaces • Large Concentration of Walkable Places of Worship • Dishwasher in Each Unit | Hardwood & Tile Floors | Self-Cleaning • Close Proximity to Beverly Grove, Rancho Park, West Ovens Hollywood & Beverly Hills TABLE OF CONTENTS
In Association with KW Commercial
OFFERING MEMORANDUM 1421 S Shenandoah St, Los Angeles CA 90035
1. EXECUTIVE SUMMARY SUMMARY OF TERMS & THE OFFERING 6-7 2. FINANCIAL ANALYSIS FINANCIAL SUMMARY & RENT ROLL 8-9 3. MARKET ANALYSIS RENT SURVEY 10-11 4. DEVELOPMENT ANALYSIS BY DEVELOPMENT-28 UNITS WITH TIER 2 TOC 12-15 5. MARKET OVERVIEW CITY OF LOS ANGELES & GEOGRAPHY 16-17 SUBMARKET / GREATER LOS ANGELES AREA 18-19 DEMOGRAPHICS 20 MAJOR EMPLOYERS 21 RETAIL CENTERS 22 COLLEGES & UNIVERSITIES 23 HEALTH CARE CENTERS 24 PARKS AND RECREATION 25
CalDRE 02004120
MVP Commercial 3 1421 S Shenandoah St, Los Angeles CA 90035 4 1421 S Shenandoah St Los Angeles CA 90035
MVP Commercial 5 EXECUTIVE SUMMARY
THE OFFERING SUBJECT PROPERTY : 1421 S Shenandoah St, Los Angeles CA 90035
SELLER MAY CARRY THE FINANCING! MVP Commercial Investment Real Estate of KW Commercial is pleased to present the Shenandoah Apartments - a six (6) unit multifamily investment opportunity located in the highly sought after Pico-Robertson District. Known for its distinct community feel and positioning amongst affluent neighborhoods, the Pico-Robertson neighborhood has become one of the most desirable real estate markets in Los Angeles. Nestled between Beverly Hills, Culver City, and Beverlywood, the small and tight-knight community has become a millennial magnet. This wood frame stucco building, built in 1956, consists of 5,894 SF of living area and is situated on a 6,499 SF lot zoned [Q]R3-1-O located in a Tier 3 TOC zone, which a Developer could build on now or in the future. The subject property presents an incredible value-add opportunity (49% in potential rental upside) for an investor to renovate the units and bring rents up to market value. The Shenandoah Apartments boast a phenomenal unit mix of Two (2) One Bedroom / One Bath units, One (1) Two Bedroom / One Bath unit, One (1) Two Bedroom / One and a Half Bath unit, One (1) Two Bedroom / Two Bath unit, and One (1) Three Bedroom / Two Bath unit. In addition to providing tenants with Twelve (12) parking spaces, the building also has an on-site laundry room with Seller owned washer and dryer units. The current owner has taken great care of the property and each unit comes with newer appliances, a dish washer, hard wood and tile flooring, and self cleaning ovens. In addition to its high rental desirability, the building also has gated entry and a communal BBQ area for the tenant’s enjoyment. With one of the largest concentrations of places of worship in the city, and as the home of important institutions like the Simon Wiesenthal Center and the Museum of Tolerance, Pico-Robertson continues to play a central role in the diversification of Los Angeles. The Shenandoah Apartments are surrounded by some of the city’s major boulevards, including Robertson and Pico, Olympic, Venice, and La Cienega. With exceptional location in the Pico-Robertson neighborhood, a highly desirable area in Los Angeles that is located closely to the Beverly Grove, Sunset Strip, and Beverly Hills, a strategic investor will have no problem leasing the units in a high rental demand area and will enjoy a pride of ownership property that will run at maximum potential.
1421 S Shenandoah St, Los Angeles CA 90035 6 EXECUTIVE SUMMARY
SUMMARY OF TERMS PARCEL MAP
1421 S Shenandoah St, Los Angeles CA 90035 APN: 4303-010-033
Price $2,900,000
Price/Unit $483,333
Price/Gross SF: $492.03
Units 6
Number of Stories 2
Year Built 1956
Building Size 5,894 SF
Lot Size 6,499 SF
Zoning [Q]R3-1-O
Parking Spaces 12 Total-6 Tandem
The property is located on S Shenandoah Street, just east of S Robertson
Blvd and south of W Pico Blvd. The location of the property is outstanding
as it is centrally located in the Pico-Robertson location, which allows
for tenants to live in close proximity to the Beverly Grove, Rancho Park,
West Hollywood, Beverly Hills, the various shops and restaurants along
Pico Blvd, and the future extension of the Purple Line metro.
MVP Commercial 7 FINANCIAL SUMMARY 1421 S Shenandoah St, Los Angeles CA 90035
PRICING ESTIMATED ANNUALIZED EXPENSES
Price $2,900,000 *Taxes: Rate 1.25% $36,250
Down Payment 100% $2,900,000 *Insurance $2,652
Number of Units 6 **Utilities $3,546
Cost per Legal Unit $483,333 *Maintenance/Repair $7,138
Current GRM 22.34 **Trash $2,796
Market GRM 14.95 *Reserves 1% $1,298
Current CAP 2.45% **Gardening $1,320
Market CAP 4.59%
Approximate Age 1956
Approximate Lot Size 6,499 SF
Approximate Building Sqft 5,894 SF *Estimated Expenses*
Cost per Net GSF $492.03 **Seller Stated Expenses**
PROPOSED SELLER FINANCING Total Expenses $55,001
New First Loan: 2,030,000 Per Net Sqft $9.33
Interest Rate: Negotiable Per Unit $9,166.77
Loan Type: Interest Only
LTV 70% SCHEDULED INCOME
Monthly Current Rents Monthly Market Rents
No. of Units Bed/Bath Approx. Sqft Rent/Unit Income Rent/Unit Income
*Loan figures not represented in financial analysis 2 1+1 $1,377 $2,754 $2,250 $4,500
ANNUALIZED OPERATING DATA 1 2+1 $1,747 $3,494 $2,710 $5,420
Current Rents Market Rents 1 2+1.5 $1,747 $3,494 $2,710 $5,420
Scheduled Gross Income $129,790 $193,980 1 3+2 $1,966 $1,966 $3,395 $3,395
Less Vacancy Rate Reserve ($3,768) 3.0% ($5,783) 3.0% 1 2+2 $2,254 $2,254 $2,750 $2,750
Gross Operating Income $126,022 $188,197 Average Rent/Gr. Sqft $1.84 $2.74
Less Expenses ($55,001) 42.4% ($55,001) 28.4% Total Scheduled Rent: $10,467 $16,065
Net Operating Income $71,021 $133,196 Laundry Income $100 $100
Less Loan Payments - - 4% Rental Increases for 3 Units $249 $0
Pre-Tax Cash Flow $71,021 2.4%* $133,196 4.6%* Monthly Scheduled Gross Income $10,816 $16,165
Plus Principal Reduction - - Annual Scheduled Gross Income $129,790 $193,980
Total Return Before Taxes $71,021 2.4%* $133,196 4.6%* Utilities Paid by Tenant Gas & Electricity
1421 S Shenandoah St, Los Angeles CA 90035 8 RENT ROLL
UNIT NO. MIX CURRENT NOTES PROFORMA
1 1+1 $1,753.61 $2,250.00
2 1+1 $1,000.00 $2,250.00
3 2+1.5 $2,003.61 $2,725.00
4 3+2 $1,966.11 $3,395.00
5 2+2 $2,253.61 $2,750.00
6 2+1 $1,489.95 $2,695.00
***Brokers do not represent the accuracy of any of this information. Buyer to conduct own investigation of all information provided.***
Monthly Rent $10,467 $16,065
Laundry Income $100 $100
4% Rental Increases for 3 Units $249 -
Yearly Gross Income $129,790 $193,980
MVP Commercial 9 RENT SURVEY
1033 S Holt Ave - $2,695 - 2+2
1145 S Corning St - $2,295 - 1+1 1109 S Wooster St - $2,850 - 2+2 1145 S Corning St - $2,795 - 2+1
1220 S Shenandoah St - $2,400 - 1+1 1226 S Sherbourne Dr - $2300 - 1+1 1220 S Shenandoah St - $3,500 - 3+2
SUBJECT PROPERTY 1466 S Canfield Ave - $3,550 - 3+2
1462 S Shenandoah St - $2,795 - 2+1
1606 S Holt Ave - $3,375 - 3+1
1421 S Shenandoah St, Los Angeles CA 90035 10 RENT SURVEYSURVEY
ADDRESS Unit Mix RENTS
1220 S Shenandoah St 1+1 $2,400 1226 S Sherbourne Dr 1+1 $2,300 1145 S Corning St 1+1 $2,295 1462 S Shenandoah St 2+1 $2,795 1145 S Corning St 2+1 $2,795 1109 S Wooster St 2+2 $2,850 1033 S Holt Ave 2+2 $2,695 1606 S Holt Ave 3+1 $3,375 1220 S Shenandoah St 3+2 $3,500 1466 S Canfield Ave 3+2 $3,550
MVP Commercial 11 Brick+Work Address: Los Angeles Title: Pico Robertson R3 Single Lot, 16 Unit Potential with TOC APN: 4303-010-033 DEVELOPMENT ANALYSIS (1 of 4) Price: $ 2.9M Pico Robertson R3 Single Lot, 16 Unit Potential with TOC
REQUEST INFO
[Q]R3-1-O 16 6,500 sq. ft. Tier 3 1
Zone/District Max Unit Lot Size TOC Lots
Existing Conditions
Floor Area 5,894 sq. ft.
Units 6
Year Constructed 1956
Assessed Improvement Value $134,760
Assessed Land Value $65,885
Development Potential (By-Right)
Maximum FAR 3:1
Maximum Height
https://www.brickwork.la/properties/pico-robertson-r3-single-lot-16-unit-potential-with-toc/ 1421 S Shenandoah St, Los Angeles CA 90035 12 Brick+Work
Feet 36 ft. Maximum building height of 45 ft. may be permitted provided any additional height above 30 ft. shall be stepped back 10 ft. from the DEVELOPMENT ANALYSIS (2 of 4) exterior wall of the structure. Stories None
Minimum Setbacks
Front 20 ft. Per Q Conditioned; 5 ft. of setback may be used for landscaping requirement
Side 5 ft. add 1 foot of side setback for each story over 2, not to exceed 16 ft.
Back 15 ft.
Max Buildable Area, Footprint 3,800 sq. ft.
Max Buildable Area, Envelope 11,400 sq. ft.
Max Dwelling Units 8
Affordable Units Required None
Parking Required 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with 3 habitable rooms 2 spaces per unit with more than 3 habitable rooms 1.25 spaces per guest room (first 30)
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling unit or guest room
Transitional Height Limitations None
Required Open Space 100 sq ft per unit
Other Development Notes
Development Potential (with TOC or DB)
Maximum FAR 4.5:1
Maximum Height
Feet 58 ft. Projects located in a zone where the maximum height is 45 ft. or less, or located within a Specific Plan that limits height, height increases over 11 ft. must be stepped-back at least 15 ft. from the exterior face of the ground floor building located at any street frontage.
Stories None
Minimum Setbacks
Front 20 ft. Per Q Conditioned; 5 ft. of setback may be used for landscaping requirement
https://www.brickwork.la/properties/pico-robertson-r3-single-lot-16-unit-potential-with-toc/ MVP Commercial 13 Brick+Work
Side 3.5 ft. add 1 foot of side setback for each story over 2, not to exceed 16 ft.
DEVELOPMENT ANALYSIS (3 of 4) Back 10.5 ft.
Max Buildable Area, Footprint 4,279 sq. ft.
Max Buildable Area, Envelope 19,256 sq. ft.
Max Dwelling Units 16
Affordable Units Required at least 10% for Extremely Low Income, or 14% for Very Low Income, or 23% for Low Income
Parking Required Shall not exceed .5 space per unit
Required Bicycle Parking
Long Term 1 per dwelling unit or guest room
Short Term 1 per 10 dwelling units or guest rooms
Transitional Height Limitations When bordering specific plan, overlay zone, or RW1 or more restrictive zone, the building height limit shall be stepped- back at a 45 degree angle as measured from a horizontal plane originating 25 ft. above grade at the property line of the adjoining lot.
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lot 188, TR 6721
Land Use Medium Residential
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council South Robertson
Council District 5
Councilmember Paul Koretz
Restrictions
Rent Stabilization Ordinance Yes
Community Design Overlay No
Historic Preservation Overlay No
Specific Plan No
https://www.brickwork.la/properties/pico-robertson-r3-single-lot-16-unit-potential-with-toc/ 1421 S Shenandoah St, Los Angeles CA 90035 14 Brick+Work
Q/T Conditions Yes
D Limitations No DEVELOPMENT ANALYSIS (4 of 4) Coastal Zone No
Community Redevelopment Agency No
Hillside Area No
Baseline Mansionization Ordinance No
Interim Control Ordinance No
River Improvement Overlay No
Community Plan Implementation Overlay No
Opportunity Zone No
Other
Red Flags
Properties subject to the Rent Stabilization Ordinance (RSO) must replace existing affordable units at a rate of 1 to 1 or 20% of new proposed units, whichever is greater.
Per ORD-167938, projects on this site are subject to alternative height, landscaping, open space, and parking standards.
Property Report Disclaimer All data are obtained from government sources. No attempt has been made to verify the data’s accuracy.
This report is for informational purposes only. Do not rely on this report to support real estate or investment decisions. The only authoritative source for the information in this report is the government agencies from which the data was obtained.
By publishing this property, you represent and warrant that you have obtained the authorization from the property owner to market this property AND to take actions on behalf of the property owner.
https://www.brickwork.la/properties/pico-robertson-r3-single-lot-16-unit-potential-with-toc/ MVP Commercial 15 LOCATION OVERVIEW
CITY OF LOS ANGELES
Location Highlights
• In 2015, leisure and hospitality is the leading industry with 488,100 jobs in Los Angeles. In the same year, this sector added 21,500 jobs which represents 4.6% job growth year after year. • The largest number of manufacturing jobs of any county in the country. • Other major industries include health care, education, and business services. • L.A.’s coastal regions boast some of the best surf spots, amazing oceanfront dining and trendy shops. • Los Angeles has more museums and theatres than any other Los Angeles, the second largest city in the United States, is located city in the United States. Los Angeles has 105 museums and in southern California and is situated in the county of Los Angeles. 225 theatres making it the mecca of arts and culture. This city is known for its sunny climate, sprawling city life, and considered • With its rich cultural diversity, Los Angeles has the most to be the center of the entertainment capital of the world. dynamic dining experiences a city has to offer. Each region
The city of Los Angeles leads its counterparts in several major growth of Los Angeles offers a variety of dining options without ever industries. LA county has more than 87,000 jobs in the fashion leaving the general area. industry surpassing New York city. In addition, Los Angeles houses Source: www.discoverlosangeles.com 700,000 jobs in health services/biomedical field and 190,000 jobs in the aero-space and technology field.
1421 S Shenandoah St, Los Angeles CA 90035 16 LOCATION OVERVIEW
GEOGRAPHY The city of Los Angeles, surrounded by the San Gabriel Mountain range and divided by the Santa Monica Mountains, is primarily a desert basin. This city has 75 miles of coastline and altitudes ranging from 9 feet below sea level at Wilmington to 10,080 feet above sea level at Mt. San Antonio. Los Angeles rivers include Rio Hondo, San Gabriel, Santa Clara and Los Angeles rivers.
City of Los Angeles: 472 square miles
County of Los Angeles: 4,084 square miles
Los Angeles Five-County Area: 34,135 square miles
Source: LACity.org, LACounty.org, California State Association of Counties counties.org
MVP Commercial 17 SUBMARKET
PICO - ROBERTSON
Pico-Robertson is a relatively densely-populated neighborhood in the Westside of Los Angeles, California, flanked on the north, northeast, and west Beverly Hills, on the east by Carthay and
Mid-City, on the south by Mid-City, Beverlywood and Cheviot Source: nytimes.com and cnn.com Hills.
1421 S Shenandoah St, Los Angeles CA 90035 18 THE GREATER LOS ANGELES AREA
DOWNTOWN LOS ANGELES HOLLYWOOD SANTA MONICA
Downtown Los Angeles, a large city with Known for its glitz and glam, Hollywood is Renowned for its sunny skies and beaches, an abundance of historic architecture home to film, television and music industries. Santa Monica attracts more than 7 million and cultural attractions, offers incredible Although most studios have moved to visitors a year. This one of a kind city restaurants, hotels with amazing views and neighboring cities, Hollywood still attracts averages more than 300 days of sunshine a a thriving nightlife. In the South Park District millions of visitors each year. Hollywood and year and has some of the best sunsets on of Downtown Los Angeles is L.A. Live, an Highland Center, in the heart of Hollywood, is the west coast. Santa Monica has become entertainment complex, that host popular one of the hottest entertainment centers in a walkable and bike-friendly town allowing attractions like the GRAMMY Museum, Los Angeles. Hollywood is ethnically diverse, easy access to shopping, restaurants and Lucky Strick Lanes and Regal Cinemas. In heavily populated and offers delicious attractions such as the Santa Monica Pier addition, STAPLES Center, adjacent to the multicultural cuisines. and Third Street Promenade. L.A. Live, is home to the Los Angeles Lakers, Clippers, Kings and Sparks.
MVP Commercial 19 DEMOGRAPHICS
POPULATION (2015) ETHNICITY
City of Los Angeles: 4.0 Million Hispanic or Latino (of any race) 47.9%
County of Los Angeles: 10.1 Million Non-Hispanic Whites: 27.5%
Los Angeles Five-County Area: 18.6 Million Asian/Pacific Islander: 13.7%
Source: California Department of Finance, Demographic Research Visit African-American: 8.1%
INCOME American Indian/Others: 2.8%
Median household income: $48,610 “The diverse, multiethnic population of Los Angeles today distinguishes the city as the cultural hub of the Pacific Rim. Mean household income $76,557 People from more than 180 countries, speaking 140 different identified languages, currently call Los Angeles home. Los Median family income: $53,008 Angeles does not have a majority population.” - www.discoverlosangeles.com Mean family income: $83,965
Source: U.S. Census Bureau - 2013 American Community Survey Median non-family income: $38,227
Mean non-family income: $61,155
Source: 2006-2008 American Community Survey
1421 S Shenandoah St, Los Angeles CA 90035 20 MAJOR EMPLOYERS
TOP 10 EMPLOYERS IN LOS ANGELES
County of Los Angeles 96,500
Los Angeles Unified School District 59,600
City of Los Angeles (including DWP) 46,900
University of California, Los Angeles 46,900
Federal Government (non-Defense Dept.) 43,400
Kaiser Permanente 36,000
State of California (non-education) 29,200
Northrop Grumman Corp. 17,000
Target Corp. 15,000
Providence Health & Services 15,000
Source: California Employment Development Department, The Los Angeles Business Journal, and Almanac research
MVP Commercial 21 RETAIL CENTERS IN THE GREATER LOS ANGELES AREA
RODEO DRIVE THE GROVE MELROSE AVE BEVERLY CENTER
Rodeo Drive is in the center of The Grove, an entertainment Melrose Avenue is famous for its Beverly Center, eight-story shopping the Golden Triangle. Some of the complex in Los Angeles, features underground and new wave retail mall located at the edge of Beverly most luxurious hotels, shopping brand name stores, chain and local stores which became popular in Hills and West Hollywood, provides and dining in the world occupy restaurants, a large center park with the 1980’s. This destination a shopping experience unlike its this distinguished corridor. The an animated fountain and Pacific attracts visitors from all over the counterparts in the local area. With most prestigious and recogniz- Theatres. Visitors can take a free world for its unique shopping over 100 specialty retail stores, able brands in fashion such as ride to The Grove Trolley which experience, spectacular dining, shoppers are able to get everything Valentino, Saint Laurent, Tiffany travels along First Street between and entertainment. they need in one location. Recently, & Co., Cartier, Rolex, Chanel and The Grove and Famer’s Market. the owners have unveiled their plans Salvatore Ferragamo are situat- to spend $500 million to renovate ed on Rodeo Drive. the Beverly Center.
1421 S Shenandoah St, Los Angeles CA 90035 22 COLLEGES & UNIVERSITIES
Los Angeles County is home to 113 accredited colleges and universities, including such prestigious institutions as the University of Southern California (USC), UCLA, Pepperdine University, Occidental College, Loyola Marymount University and the Art Center College of Design.
Source: LAEDC
University of Southern California University of California, Los Angeles
Pepperdine University Art Center College of Design
MVP Commercial 23 HEALTH CARE CENTERS
According to U.S. News, UCLA Medical Center, Cedars-Sinai Medical Center, Kesk Medical Center of USC and Kaiser Permante Los Angeles Medical Center are ranked in the top 20 hospitals in California.
UCLA Medical Center Cedars-Sinai Medical Center
Keck Medical Center of USC Kaiser Permanente LA Medical
1421 S Shenandoah St, Los Angeles CA 90035 24 PARKS AND RECREATION
Griffith Observatory Kenneth Hahn State Recreation Area
Spanning an impressive 4,210 acres, it’s easy to get lost in LA’s largest public Kenneth Hahn is impressive in both size and topography for a park in the green space, much of which remains unchanged from the days when Native middle of the Westside. Americans settled here.
Hancock Park La Brea Lake Hollywood Park
Explore the La Brea Tar Pits, which for over 100 years has unearthed Unlike the touristy turnout just up the road, this park stays quiet throughout the prehistoric fossils, and enjoy the Urban Light sculptures from LACMA which day. The whole family can enjoy the playground, shaded picnic benches and one is within a stone’s throw. of the most fantastic views of the Hollywood Sign.
MVP Commercial 25 1421 S Shenandoah St, Los Angeles CA 90035 26 CONFIDENTIAL DISCLAIMER
This Confidential Memorandum has been prepared by MVP Commercial Investment Real Estate (“MVP”) and is being furnished to you solely for the purpose of your review of the commercial property located at 1421 S Shenandoah St, Los Angeles CA 90035. The material contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of MVP Commercial Investment Real Estate and KW Commercial (“Broker”).
By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to MVP as soon as practicable together with all other materials relating to the Property which you may have received from MVP; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of MVP.
This Confidential Memorandum has been prepared by MVP, based upon certain information pertaining to the Property and any information obtained from MVP to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by MVP to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon MVP, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither MVP or KW Commercial, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred.
MVP, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice.
This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memorandum, you agree to release MVP and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. MVP reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time.
MVP Commercial 27 In Association with KW Commercial www.mvpcre.com
Adrian Stepien Senior Investment Associate 310.301.2352 | [email protected] CalBRE: #01979555
Jonathan Prakash Executive Managing Director, Partner 310.301.2351 | [email protected] CalBRE: #01483131
Derrick Vartanian Executive Managing Director, Partner 310.301.2353 | [email protected] CalBRE: #01816119
CalBRE 02004120