11921 Goshen Avenue Brentwood Presented By

Offering Memorandum 11921 Goshen Avenue Brentwood Presented By:

Kenny Stevens Principal DRE 01090251 [email protected] 310.963.7851 11921 Goshen Avenue oObszddM, CA

LOCATION OVERVIEW

Neighborhood Description Location Highlights Nearby Developments Local Hotspots

PROPERTY SUMMARY

Property Description Property Details Photography

FINANCIALS

Set Up Rent Roll Rental Comps Sales Comps Introducing: Brentwood

oObszddMÛdbOdTààĆpadpsBTtObsbOWUVJdoVddMpÛlodyWMOpBsoBbntW_ refuge for residents, while maintaining a distinct presence in greater dpbUO_OpKt_stoOà oObszddMWbK_tMOpVWUVøps|_OJdtsWntOpBbMsoObM| restaurants balanced by large secluded houses in the foothills of the Santa Monica mountains. Sitting alongside the ever growing hustle and bustle of Santa Monica, Brentwood is still able to maintain the comforting neighborhood vibe it has held for years.

The main artery, San Vicente Boulevard, features classy Italian eateries and warm cafes, plus the historic Brentwood Country Mart, a family- friendly retail hub. While there are many restaurants, specialty food pVdlpÛBbMK_dsVWbUJdtsWntOpÛ oObszddMOb]d|pBp_WUVs_|p_dzOolBKOà The town is well-maintained, from its manicured parks to its sweeping city psoOOspà#bOdTsVObOWUVJdoVddMĆpMObWbUTOBstoOpWpsVOOss| ObsOoÛ which delivers world-class art from its mountainside perch. It is a cultural, architectural and botanical wonder designed by famed architect Richard Meier is a 24-acre hilltop campus that boasts an expansive art collection and gorgeous city views.

oObszddMVBpWsppVBoOdTVWUVølod_OoOpWMObspJtsWsĆpB_pdBaW{ dTBTtObsTBaW_WOpÛ3 pstMObspBbMTBKt_s|ÛBpzO__BpptKKOppTt_ ObsOosBWbaObsWbMtpso|lodTOppWdbB_pzVdBlloOKWBsOWspntWOsntBWbsbOppà Quaint shops are its calling card and long-time residents greet one another on the area’s many running paths and trails, lending a sense of stability and familiarity. Tree-lined streets with well-tended homes in a range of architectural styles stretch up into the hills.

2VOlodlOos|dbdpVObyOWppWstBsOM]tpsbdosVdT9W_pVWoO _yM and south of San Vicente Blvd in the heart of Brentwood. The best shopping, restaurants, and entertainment that Brentwood has to offer are all within walking distance of the property. Location Highlights

Excellent Brentwood Walking distance to local Easy access to 405 and 10 freeways, location north of Wilshire Blvd shops, restaurants and markets as well as public transportation 1

Bundy Drive

Sunset Blvd I 405

San Vicente Blvd 2 11921 Goshen Avenue 3 Melrose Ave 4

Nearby Developments

1 229 Patton Avenue 2 1200 Granville Avenue 3 11770 Wilshire Boulevard 4 12027-12035 Wilshire Boulevard 5 11811 San Vicente Boulevard

West L.A. Veterans The shopping center next 34-story tower planned Picasso Brentwood is being Construction is underway for Collective will build at least to Q’s Billiards, Bruhaus, will replace an existing developed by Metropolitan the new Frank Gehry-Designed 900 of the 1,200 supportive and Cabo Cantina on commercial building with 376 +BKWK.OB_psBsOodtlà2VO #TKO tW_MWbUÛzVWKVzW__JO housing units that the 9W_pVWoO dt_OyBoMÛ]tps units of apartment housing six-story building will feature 81 a low-rise structure designed VA has agreed to put on east of Santa Monica, residential units - including a by the architect Frank Gehry. the 400-acre campus will undergo a dramatic, handful set aside as affordable Located on a triangular, the along Wilshire Boulevard. $10-million facelift over the VdtpWbUøzWsVÛpntBoO sVoOOøpsdo|ÛÛøpntBoOTdds Building 207 will also hold next 10 months. TOOsdTUodtbMøddooOsBW_plBKO building will include parking community space, a library, and basement parking for 126 for 36 vehicles. a gym, case management vehicles. dTKOpBbM_BbMpKBlOM outdoor space, Peck says. Construction is anticipated to begin in late 2019. 3 3

Wilshire Blvd I-405

San Vicente Blvd 1 11921 Goshen Avenue 2 1 11921 Goshen Avenue

Pico Blvd 2 Montana Ave 5 4 Wilshire Blvd

5 Melrose Ave

Local Hotspots

1 The Brentwood 2 3 Westwood Village 4 Sawtelle Boulevard 5 Douglas Park Country Mart An almost-coastal village The neighborhood of Sawtelle You could spend all day In today’s world of mega- in with cosmopolitan Japantown (formerly known as at Douglas Park. Bring the stores and mega-malls Co untry Club is a thriving sensibilities, Westwood’s Little Osaka) is a true gem of bikes and cruise around on the Brentwood Country and mu premier restaurants, revered West Los Angeles. The historic the paved area with a water Mart feels cozy, familiar tha t ca ters to di erent playhouses, and top-notch area is known for the trendy spout to soak riders in warm and is a place where it athletics such as golf, university campus uphold LA’s shops and restaurants centered weather. Featuring a lawn is easy to shop and eat. tennis, swimming, a reputation for looking good. on Sawtelle Boulevard. Take a bowling arena and duck pond, The Brentwood Country tness center and much Catering to both students stroll through the neighborhood this is the perfect community Mart has been renovated more. and starlets, Westwood’s and shop kitschy boutiques, nosh to relax from the busy streets and restored by James S. sleek cafes and wily street on delicious multicultural fare and more. & Co specializes in the between intimidatingly chic preservations of unique Los and invitingly approachable. Angeles environments. Property Summary

PROPERTY DETAILS

PROPERTY DESCRIPTION Units

Kenny Stevens Team is pleased to present 11921 Goshen Ave, 8 an 8 unit multifamily building is located north of Wilshire Blvd in a highly desirable and rarely traded Brentwood submarket in West Los Angeles. This property has been totally Intersection remodeled and boasts an attractive unit mix consisting of (2) Bundy Drive & Westgate three-bedroom/two-bathroom units, (2) two-bedroom/two- bathroom units, (2) one-bedroom/one-bathroom units, and Avenue (2) single units. Units have been upgraded with hardwood ddopÛBbMadMOobÛBssoBKsWyObWpVOpàaObWsWOpWbK_tMOp on-site laundry, 9 parking spaces and a spacious community Market sun deck. Conveniently situated near trendy Brentwood shops, Brentwood restaurants and markets this investment property is a great opportunity for any investor. With this investment comes true pride of ownership of property in a high demand rental area APN in one of the best areas in Los Angeles. 4265-012-045

Zoning LAR3

_MU/ns 6,700

dspWO/ns 7,874 Property Highlights

oWUVsBbMsoBbntW_KdaatbWs| Bright, spacious units with Some units complete 9 parking spaces Onsite Laundry sundeck and garden plentiful natural light, large with balconies or living rooms, and walk-in patios closets

Approximate Age: 1962 +oWKO+Oo/nsÚ ĝ Financials llod{WaBsOds/WOÚ àpnàTsà Current CAP: 3.% llod{WaBsO tW_WbU/WOÚ ÛpnàTsà Market CAP: 3.% Zoning: LAR3

Investment Summary Annualized Operating Data

Price: $5,90,000 Current Rents Market Rents Down Payment: 100% $5,90,000 Scheduled Gross Income: ĝÛ $3, Number of Units: 8 Vacancy Allowance: $9,245 3% $9, 3% Price Per Unit: $6, Gross Operating Income: $298,15 $3, Current GRM: 1à Less Expenses: $10Û 33% $10Û 32% Market GRM: 17. Net Operating Income: $19,5 $2, Proposed Financing: $0 Less Loan Payment: -$0 -$0 Pre-Tax Cash Flow: $19,5 3.% $2Û 3.% Plus Principal Reduction: $0 $0 Total Return Before Taxes: $19,55 3.% $2Û 3.%

Income Expenses*

Current Rents Market Rents Taxes (new): 1.25% $6, # of Units Bed/Baths Monthly Rent/Unit Monthly Income Monthly Rent/Unit Monthly Income Insurance: $2,680 1 3 + 3 $4,500 $4,500 $5,000 $5,000 Utilities: $6,700 1 3 + 2 $4,600 $4,600 $4,850 $4,850 Repairs/Maintenance: $7,704 2 2 + 2 ĝÛø$3,450 $6,0 $3,500 $7,000 Professional Mgmt: $13,451 2 1 + 1 $2,500 $5,000 $2,500 $5,000 Reserves/Misc: $2,000 2 Studio $2,300 $4,600 $2,300 $4,600 Total Expenses: $10, Total Scheduled Rent: $25,0 $26,450 Per Sq. Ft: $15. Laundry Income: $80 $80 Per Unit: $12, Other Income: $0 $0

Monthly Scheduled Gross Income: $25,60 $26,530 *EXPENSES ARE ESTIMATED Annual Scheduled Gross Income $30,60 $318,360 Financials Rent Roll As Of 5/29/19

Rent Roll

Unit # Unit Type Current Rent Market Rent 1 3 + 3 $4,500 $5,000 2 1 + 1 $2,500 $2,500 3 2 + 2 $3,450 $3,500 4 3 + 2 $4,600 $4,850 5 1 + 1 $2,500 $2,500 6 2 + 2 $3,400 $3,500 7 Studio $2,300 $2,300 8 Studio $2,300 $2,300

LAUNDRY INCOME: $80 $80 MONTHLY TOTAL: $25,6 0 $26,530 ANNUAL TOTAL: $307,560 $318,360 Comparables – Rental Comps

Property Photo

Address 11921 Goshen Avenue 11931 Goshen Avenue 11611 Montana Avenue 11620 Mayﬁeld Avenue 11757 Kiowa Avenue 11822 Gorham Ave 708 S. Barrington Ave Apt. 301 Apt.7 Apt. 3 Apt. 203

$2,300-$4,500 Rent per month $5,895+ $4,895 $3,695 $3,695 $2,950 $2,595

(1) 3+3, (1) 3+2, Unit Type (2) 2 + 2 3+3.5 3+2 2+2 2+2 1+1 1+1 (4) 1 + 1 2 6

3 5

1 11921 Goshen Avenue

1. 11931 Goshen Avenue 2. 11611 Montana Avenue 3. B|O_MyObtOÛlsà 4. WdzByObtOÛlsà 5. doVBayObtOÛlsà 6. /à BooWbUsdbyOtbOÛlsà Comparables – Sales Comps

Address 11921 Goshen Ave 1543 Stanford St 11908 Montana Ave 1521-1527 Yale St 1721 Colby Ave 11923 Gorham Ave

COE Subject Property 6/29/2018 10/22/2018 11/29/2018 1/9/2018 3/8/2019

Sales Price $5,590,000 $5,032,500 $17,600,000 $6,475,000 $8,325,000 $8,650,000

Units 8 7 24 7 9 8

Price/Unit $698,750 $718,929 $733,333 $925,000 $925,000 $1,081.250

Building Sq Ft 6,700 5,994 39,510 8,732 9,896 19,088

Price Per Foot $834 /sf $839.50 /sf $445.46 /sf $737.30 /sf $841.25 /sf $423.16 /sf

Year Built 1962 1963 1973 1963 1960 1993

Unit Mix (1) 3+3, (1) 3+2, (2) (4) 1+1, (3) 2+2 (9) 1+1, (15) 2+1 (7) 2+2 (4) 1+1, (5) 2+2 (8) 3+2 2+2, (4) 1+1 3 2

11921 Goshen Avenue

4 1. 1721 Colby Ave 5 2. 11923 Gorham Ave 3. 11908 Montana Ave 4. 1543 Stanford St 5. 1521-1527 Yale St For more information, please contact:

Kenny Stevens Principal DRE 01090251 [email protected] 310.963.7851

— We sweat the details so you don’t have to.

dalBppWpBoOB_OpsBsOJod^Oo_WKObpOMJ|sVO/sBsOdT B_WTdobWBBbMBJWMOpJ|ntB_dtpWbU#lldostbWs|_BzpàWKObpO!taJOo .à __aBsOoWB_loOpObsOMVOoOWbWpWbsObMOMTdoWbTdoaBsWdbB_ltoldpOpdb_|àbTdoaBsWdbWpKdalW_OMTodapdtoKOpMOOaOMoO_WBJ_OJtsWpptJ]OKssdOoodopÛ omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and pntBoOTddsBUOpBoOBllod{WaBsOà2VWpWpbdsWbsObMOMsdpd_WKWslodlOos|B_oOBM|_WpsOMà!dsVWbUVOoOWbpVB__JOKdbpsotOMBp_OUB_ÛBKKdtbsWbUdodsVOo professional advice outside the realm of real estate brokerage.