4311 COLDWATER CANYON 4311 Coldwater Canyon Ave

4311 COLDWATER CANYON 4311 Coldwater Canyon Ave. Studio City, CA 91604

For more information

CINDY HILL, CCIM 818 846 1611 [email protected] California

Price: $1,850,000

Highlights b Located in prime Studio City, South of Moorpark b Perfect for an owner user or first time investor b Three bedroom two bath unit is vacant b Tenants enjoy covered parking, hardwood floors, and well-furnished kitchens and bathrooms b Buyer can take advantage of historical low interest rates b Rare 4 cap for Studio City

4061 Laurel Canyon Blvd. | Studio City, CA 91604 | Phone: 818-432-1500 | Fax: 818-432-1501 | www.kwcommercial.com 4311 Coldwater Canyon Avenue INVESTMENT DETAILS Studio City, CA 91604

Analysis Analysis Date August 2020

Property Property Type MultiFamily Property 4311 Coldwater Canyon Address 4311 Coldwater Canyon Avenue City, State Studio City, CA 91604 Year Built 1965

Purchase Information Purchase Price $1,850,000 Units 4 Total Rentable Sq. Ft. 3,868 Lot Size 5,001 sf

Income & Expense Gross Operating Income $111,767 Monthly GOI $9,314 Total Annual Expenses ($34,413) Monthly Expenses ($2,868)

Financial Information All Cash

Loans Type Debt Term Amort Rate Payment LO Costs

Acquisition Costs Purchase Price, Points and Closing Costs $1,850,000 Investment Cash $0

Investment Information Purchase Price $1,850,000 Price per Unit $462,500 Price per Sq. Ft. $478.28 Expenses per Unit ($8,603)

Income, Expenses & Cash Flow Gross Scheduled Income $115,224 Total Vacancy and Credits ($3,457) Operating Expenses ($34,413) Net Operating Income $77,354 Debt Service $0 Cash Flow Before Taxes $77,354

Financial Indicators Debt Coverage Ratio N/A Capitalization Rate 4.18% Gross Rent Multiplier 16.06 Gross Income / Square Feet $29.79 Gross Expenses / Square Feet ($8.90) Operating Expense Ratio 30.79%

Income Description Actual Per Unit Market Per Unit Gross Potential Rent $115,224 $28,806 $128,400 $32,100 Less: Vacancy ($3,457) ($864) ($3,852) ($963) Effective Gross Income $111,767 $27,942 $124,548 $31,137

Operating Expenses Description Actual Per Unit Market Per Unit Gas $359 $90 $359 $90 Electric $1,847 $462 $1,847 $462 Water $1,507 $377 $1,507 $377 Insurance $2,026 $507 $2,026 $507 Trash $2,070 $518 $2,070 $518 Maintenance $2,500 $625 $2,500 $625 Misc. $1,500 $375 $1,500 $375 Property Tax $22,604 $5,651 $22,604 $5,651 Total Expenses ($34,413) ($8,603) ($34,413) ($8,603)

Net Operating Income $77,354 $19,339 $90,135 $22,534

Unit Mix & Monthly Scheduled Income Type Units Actual Total Market Total 1+1 1 $827 $827 $1,900 $1,900 2+1 2 $2,488 $4,975 $2,500 $5,000 3+2 1 $3,800 $3,800 $3,800 $3,800 Totals 4 $9,602 $10,700

Annualized Income Description Actual Market Gross Potential Rent $115,224 $128,400 Less: Vacancy ($3,457) ($3,852) Effective Gross Income $111,767 $124,548 Less: Expenses ($34,413) ($34,413) Investment Summary Net Operating Income $77,354 $90,135 Price $1,850,000 Year Built 1965 Annualized Expenses Units 4 Description Actual Market Price/Unit $462,500 Gas $359 $359 RSF 3,868 Electric $1,847 $1,847 Price/RSF $478.28 Water $1,507 $1,507 Lot Size 5,001 sf Insurance $2,026 $2,026 Floors 2 Trash $2,070 $2,070 APN 2375011024 Maintenance $2,500 $2,500 Cap Rate 4.18% Misc. $1,500 $1,500 Market Cap Rate 4.87% Property Tax $22,604 $22,604 GRM 16.06 Total Expenses $34,413 $34,413 Market GRM 14.41 Expenses Per RSF $8.90 $8.90 Expenses Per Unit $8,603 $8,603

4 Units in Studio City KW Commercial is proud to represent this 4unit apartment building in Studio City.

The building was constructed in 1965. Its unit mix consists of (1) onebedroom, onebathroom unit, (2) twobedroom units, and (1) threebedroom, twobathroom unit. With a lot size of 5,001 square feet, the property has a total of 3,868 rentable square feet.

The property, which is situated among multimillion dollar properties, is situated in a prime Studio City area. Its surrounding area features established character homes and quiet treelined streets, and is within walking distance to Woodbridge Park and Tujunga Village. It is also near Ventura Boulevard, which boasts a variety of trendy shops and stylish food spots. Aside from its urban attractions, Studio City residents also have access to woodsy hiking trails which have great, panoramic views of the San Fernando Valley. Studio City has easy access to the 101, 134, 170, 405, and 5 freeways, and therefore is a great location within the greater Los Angeles area.

It is separately metered for gas and electricity.

Unit Description Current Rent Pro Forma Rent Comments 1 1+1 $827 $1,900 2 2+1 $2,675 $2,700 3 2+1 $2,300 $2,300 Vacant 4 3+2 $3,800 $3,800 Vacant

Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly 1 1+1 0 $827.00 $827.00 $1,900.00 $1,900.00 2 2+1 0 $2,487.50 $4,975.00 $2,500.00 $5,000.00 1 3+2 0 $3,800.00 $3,800.00 $3,800.00 $3,800.00 4 0 $9,602.00 $10,700.00

UNIT MIX UNIT MIX SQUARE FEET ● 1+1 ● 1+1 ● 2+1 ● 2+1 ● 3+2 ● 3+2

UNIT MIX INCOME UNIT MIX MARKET INCOME ● 1+1 ● 1+1 ● 2+1 ● 2+1 ● 3+2 ● 3+2

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. 4311 Coldwater Canyon Avenue PROPERTY PHOTOS Studio City, CA 91604 4311 Coldwater Canyon Avenue PROPERTY PHOTOS Studio City, CA 91604 4311 Coldwater Canyon Avenue PROPERTY PHOTOS Studio City, CA 91604 4311 Coldwater Canyon Avenue PROPERTY PHOTOS Studio City, CA 91604 4311 Coldwater Canyon Avenue PROPERTY PHOTOS Studio City, CA 91604 City of Studio City

Studio City is a hip city, with great dining opons and tree‐lined residenal streets. Its lively Ventura Boulevard boasts a variety of trendy shops and stylish food spots. Aside from its urban aracons, its residents also have access to woodsy hiking trails which have great, panoramic view of the San Fernando Valley. Its residents are highly educated, with 49.4% of residents over 25 having a four‐year degree, which is high for the region.

Its residents have close access to the 101, 134, 170, 405, and 5 freeways, making it an ideal locaon within the greater Los Angeles area.

www.ValleyApartmentSales.com 4311 Coldwater Canyon Avenue SALE COMPARABLES Studio City, CA 91604

S Sale Price $1,850,000 Mix Layout Units 4 1 1+1 Price/Unit $462,500 2 2+1 Price/SqFt $478.28 1 3+2 Lot Size 5,001 Cap Rate 4.18% GRM 16.06 Year Built 1965

4311 Coldwater Canyon 4311 Coldwater Canyon Avenue, Studio City, CA

1 Sale Price $1,526,000 Mix Layout Units 4 4 2 Bedroom / 1 Bath Price/Unit $381,500 Price/SqFt $357.88 Lot Size 7,714 Cap Rate 4.73% GRM 19.4 Year Built 1948 Sale Date 9/27/2019 13104 Riverside Dr. 13104 Riverside Drive, Sherman Oaks, CA

2 Sale Price $1,750,000 Mix Layout Units 4 2 1 Bedroom / 1 Bath Price/Unit $437,500 2 2 Bedroom / 1 Bath Price/SqFt $553.27 Lot Size 5,714 Cap Rate 4.32% GRM 18.0 Year Built 1956 Sale Date 2/18/2020 14147 Moorpark St. 14147 Moorpark Street, Sherman Oaks, CA

3 Sale Price $1,500,000 Mix Layout Units 4 2 2 Bedroom / 1 Bath Price/Unit $375,000 2 3 Bedroom / 2 Bath Price/SqFt $286.04 Lot Size 5,001 Year Built 1964 Sale Date 2/14/2020

4209 Whitsett Ave. 4209 Whitsett Avenue, Studio City, CA

4 Sale Price $1,725,000 Mix Layout Units 4 4 1 Bedroom / 1 Bath Price/Unit $431,250 Price/SqFt $620.50 Lot Size 6,919 Cap Rate 4.03% Year Built 1948 Sale Date 10/4/2019

4224 Gentry Ave. 4224 Gentry Avenue, Studio City, CA

5 Sale Price $2,000,000 Mix Layout Units 4 2 1 Bedroom / 1 Bath Price/Unit $500,000 1 2 Bedroom / 2 Bath Price/SqFt $467.62 1 3 Bedroom / 2 Bath Lot Size 9,451 Year Built 1952 Sale Date 7/25/2019

4510 Coldwater Canyon Ave. 4510 Coldwater Canyon Avenue, Studio City, CA

6 Asking Price $1,990,000 Mix Layout Units 4 2 1 Bedroom / 1 Bath Price/Unit $497,500 2 2 Bedroom / 1 Bath Price/SqFt $543.72 Lot Size 7,026 Cap Rate 3.89% GRM 17.4 Year Built 1949 Sale Date On Market 10550 Moorpark St. 10550 Moorpark Street, Toluca Lake, CA

S 4311 Coldwater Canyon Avenue 1 13104 Riverside Drive 2 14147 Moorpark Street Studio City, CA, 91604 Sherman Oaks, CA, 91423 Sherman Oaks, CA, 91423 $1,850,000 $1,526,000 $1,750,000 3 4209 Whitsett Avenue 4 4224 Gentry Avenue 5 4510 Coldwater Canyon Avenue Studio City, CA, 91604 Studio City, CA, 91604 Studio City, CA, 91604 $1,500,000 $1,725,000 $2,000,000 6 10550 Moorpark Street Toluca Lake, CA, 91602 $1,990,000