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Offering Memorandum > OFFERING MEMORANDUM 3153 BARBARA COURT LOS ANGELES, CALIFORNIA 90068 Team Ghobadi Real Estate Investment Services P: +1 (818) 325 4142 [email protected] 3153 BARBARA COURT LOS ANGELES, CA 90068 PROPERTY OVERVIEW .............................................................................................................................................................................................................3 PROPERTY VALUATION .......................................................................................................................................................................................................... 13 MARKET COMPARABLES ........................................................................................................................................................................................................ 19 DEMOGRPAHIC ANALYSIS .....................................................................................................................................................................................................24 3153 BARBARA COURT > Offering Memorandum PROPERTY OVERVIEW PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY INFORMATION Colliers International’s Ghobadi Multifamily Team is proud to present A well-appointed 18-unit apartment community at 3153 Barbara Court in Los Angeles/Hollywood Hills, California. The property is comprised of One 2-bed and 2 ¹/² bath unit, Five 2-bed/2-bath units, and Twelve 1-bed/1-bath PROPERTY HIGHLIGHTS units. Many of the units, including the larger 2-bedroom unit offer with great hillside views, private washer and dryer, two private entrances, a private 3153 Barbara Ct. garage and hardwood floors. All 2-bedroom units are two stories. Together these apartments come to about 18,689 square feet of rentable space on Address 33,203 square feet of land. The property also includes ample amenities for residents, including a beautifully landscaped courtyard, a sparkling pool Los Angeles, CA 90068 with a great view, a gated and secured parking area with 18 private garages, a large maintenance storage facility and onsite laundry facilities for those without private machines. The rent-controlled complex, which was built in 1950, has been well maintained throughout the years. Year Built 1950 Located on a nice, quiet street in the Hollywood Hills, the property sits mere minutes away from the world famous Universal Studios Hollywood film studio and theme park and within easy access of the 101 Hollywood Freeway. The property’s prime location, coupled with clear upside potential, make Number of Units 18 it a fantastic investment opportunity. Subject to Soft Story Retrofit No Building Area 18,689 SF Land Area 33,203 SF Zoning LARD1.5 APN 2429-012-003 Roof Pitched Number of Stories 2 Number of Parking Spaces 18 Private Garages Laundry Facility Yes (Owned) 4 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY INFORMATION KEY HIGHLIGHTS > Excellent Hollywood Hills location with great view > Minutes away from the world famous Universal Studios Hollywood and theme park > Rent control – Built 1950 > Excellent Mix of spacious 1 & 2-bedroom units > One large 2-bedroom & 2 ¹/² bathrooms: Two stories, first floor 2-bedrooms & 2-bathrooms, second floor is huge living space with great view and a bathroom, central AC/ Heat, private washer & dryer, private garage and beautifully landscaped yard, two private entrances. Owner used to live in this unit and currently vacant > Five other spacious two bedrooms and two bathrooms (2-stories): all with private washer and dryer, hardwood floors, two private entrances > Twelve spacious one bedroom & one bathroom: hardwood floors, two private entrances > Onsite laundry facilities: dryers and washers owned by the landlord > Huge storage facility > Sparkling pool with great view > Beautifully landscaped courtyard > Gated and secured parking area with 18 private garages > All units with two main entrances. One opens to the street and one opens to the courtyard > Security cameras > Great upside potential > Easy access to 101 freeway 5 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY PHOTOS 6 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY PHOTOS 7 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY PHOTOS 8 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY PHOTOS 9 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY PHOTOS 10 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY PHOTOS 11 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY PHOTOS 12 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS PROPERTY AERIAL 13 3153 BARBARA CT. | LOS ANGELES, CA 3153 BARBARA COURT > Offering Memorandum PROPERTY VALUATION PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS INVESTMENT SUMMARY Investment Summary Annualized Income Actual % Actual Proforma % Pro Forma Gross Potential Rent $402,300 $465,600 Price $6,695,000 Misc. Income $3,000 $3,000 Down Payment 100% $6,695,000 Gross Potential Income $405,300 $468,600 Less Economic Vacancy -2.00% -$8,046 -2.00% -$9,312 Year Built 1950 Effective Gross Income $397,254 $459,288 Less Expenses 43.38% $172,321 37.92% $174,182 Units 18 Net Operating Income: $224,933 $285,106 Price/Unit $371,944 Annualized Expenses RSF 18,689 Actual % Actual Proforma % Pro Forma Real Estate Taxes 21.07% $83,688 18.22% $83,688 Price/RSF $358.23 Insurance 1.88% $7,476 1.63% $7,476 Gas 0.30% $1,200 0.26% $1,200 Lot Size 33,203 Electric & Water (DWP) 4.53% $18,000 3.92% $18,000 On-Site Manager 3.02% $12,000 2.61% $12,000 APN 2429-012-003 Professional Management 3.00% $11,918 3.00% $13,779 Zoning LARD1.5 Repairs & Maintenance 3.40% $13,500 2.94% $13,500 Pest Control 0.18% $720 0.16% $720 CAP Rate 3.36% Pool 0.45% $1,800 0.39% $1,800 Trash 0.79% $3,120 0.68% $3,120 GRM 16.64 Landscaping 2.27% $9,000 1.96% $9,000 Proforma CAP Rate 4.26% License Fees & Taxes 0.38% $1,500 0.33% $1,500 Cable & Phone 2.11% $8,400 1.83% $8,400 Proforma GRM 14.38 Total Expenses 43.38% $172,321 37.92% $174,182 Expenses Per RSF $9.22 $9.32 Expenses Per Unit $9,573 $9,677 15 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS RENT ROLL Unit # Unit Type Notes Unit SF Actual Pro Forma 3200 Dos Palos Dr. 2+2 1/2 Vacant - Private Garage & Backyard $3,200 $3,200 3202 Dos Palos Dr. 2+2 $1,857 $2,800 3204 Dos Palos Dr. 2+2 $2,380 $2,800 3206 Dos Palos Dr. 2+2 $2,469 $2,800 3208 Dos Palos Dr. 2+2 $2,545 $2,800 3210 Dos Palos Dr. 2+2 $2,697 $2,800 3153 Barbara Ct. #A 1+1 $1,485 $1,800 3153 Barbara Ct. #B 1+1 $1,565 $1,800 3153 Barbara Ct. #C 1+1 $1,367 $1,800 3153 Babara Ct. #D 1+1 $1,423 $1,800 3159 Barbara Ct. #A 1+1 $1,581 $1,800 3159 Barbara Ct. #B 1+1 $1,573 $1,800 3159 Barbara Ct. #C 1+1 $1,384 $1,800 3159 Barbara Ct. #D 1+1 Manager - Pays $800 / Month $1,800 $1,800 3163 Barbara Ct. #A 1+1 Vacant $1,800 $1,800 3163 Barbara Ct. #B 1+1 $1,689 $1,800 3163 Babara Ct. #C 1+1 $1,273 $1,800 3163 Barbara Ct. #D 1+1 $1,437 $1,800 18 TOTAL 18,689 33,525 38,800 Gross Scheduled Monthly Rental Income $33,525 $38,800 Gross Scheduled Annual Rental Income $402,300 $465,600 Monthly Laundry Income $250 $250 Annual Laundry Income $3,000 $3,000 TOTAL YEARLY SCHEDULED INCOME $405,300 $468,600 16 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS EXPENSES Current Per SF Per Unit Pro Forma Per SF Per Unit Current Real Estate Taxes $83,688 $4.48 $4,649 $83,688 $4.48 $4,649 Tax Rate based on new value/price Insurance $7,476 $0.40 $415 $7,476 $0.40 $415 Estimated at $0.40 / SF Gas $1,200 $0.06 $67 $1,200 $0.06 $67 Estimated at $100 / Month Electric & Water (DWP) $18,000 $0.96 $1,000 $18,000 $0.96 $1,000 Estimated at $1,500 / Month On-Site Manager $12,000 $0.64 $667 $12,000 $0.64 $667 Estimated at $1,000 / Month Professional Management $11,918 $0.64 $662 $13,779 $0.74 $765 Estimated at 3% of gross income Repairs & Maintenance $13,500 $0.72 $750 $13,500 $0.72 $750 Estimated at $750 / Unit Pest Control $720 $0.04 $40 $720 $0.04 $40 Estimated at $60 / Month Pool $1,800 $0.10 $100 $1,800 $0.10 $100 Estimated at $150 / Month Trash $3,120 $0.17 $173 $3,120 $0.17 $173 Estimated at $260 / Month Landscaping $9,000 $0.48 $500 $9,000 $0.48 $500 Estimated at $750 / Month License Fees & Taxes $1,500 $0.08 $83 $1,500 $0.08 $83 Estimated at $125 / Month Cable & Phone $8,400 $0.45 $467 $8,400 $0.45 $467 Estimated at $700 /Month Total Expenses $194,116 $10.39 $10,784 $198,046 $10.60 $11,003 17 3153 BARBARA CT. | LOS ANGELES, CA PROPERTY OVERVIEW PROPERTY VALUATION MARKET COMPARABLES DEMOGRAPHIC ANALYSIS INCOME & EXPENSES Actual Pro Forma Income Annual Per Unit Per SF % Annual Per Unit Per SF % Gross Potential Rent $402,300 $22,350 $21.53 $465,600 $25,867 $24.91 Other Income Laundry Income $3,000 $167 $0.16 0.76% $3,000 $167 $0.16 0.65% Gross Potential Income $405,300 $22,517 $21.69 102.03% $468,600
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