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7026 Sepulveda Boulevard Van Nuys, CA 91405 OFFERING MEMORANDUM

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7026 Sepulveda Boulevard Van Nuys, CA 91405 OFFERING MEMORANDUM 7026 Sepulveda Boulevard Van Nuys, CA 91405 OFFERING MEMORANDUM Colliers International 16830 Ventura Boulevard | Suite J Encino, CA 91436 | United States colliers.com/greaterlosangeles “Our mission is to provide our multifamily clients with proven, personalized service that not only achieves— but exceeds—their investment objectives. Through a spirit of honesty, integrity and ingenuity, our team of brokerage, research and marketing professionals, with expertise in the San Fernando Valley and Tri-Cities markets, aims to maximize returns while safeguarding the best interests of our clients.” Exclusive Advisors REZA GHOBADI DELORES CROSBY JARED PAPAZIAN TONY SAMEYAH Senior Vice President Client Services Coordinator Multifamily Specialist Multifamily Specialist +1 818 325 4142 +1 818 325 4140 +1 818 325 4145 +1 818 325 4106 [email protected] [email protected] [email protected] [email protected] Lic. 01780045 Lic. 02018676 Lic. 02015965 Table of Contents Project Overview 4-7 Market Comparables 13-19 Financial Analysis 8-12 Area Overview 20-23 4 Property Overview Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2020. All rights reserved. Property Overview PROPERTY INFORMATION 7026 Sepulveda Boulevard Address Van Nuys, CA 91405 Team Ghobadi of Colliers International is pleased to present APN 2220-009-022 the sale of a 29 unit building located at 7026 Sepulveda Boulevard, Van Nuys, CA. Built in 1978, the Certificate of Year Built 1978 - COO was issued on 3/26/1979 Occupancy (COO) was issued on March 26, 1979. Number of Units 29 This property offers a unit mix of (3) 2-Bedroom/2-Bath, (15) Number of Buildings 1 1-Bedroom/1-Bath and (11) Studios/1-Bath totaling ±20,224 square feet resting on ±29,214 square foot lot. Some of the Building Area 20,224 SF common area amenities are a shaded central courtyard / Land Area 29,214 SF barbecue area and a laundry room. In addition, the complex offers 39 gated parking spaces at the rear of the property. Zoning LAR3 Roof Flat Positioned in a densely populated rental neighborhood, this property is located South of Sherman Way and West of Stories 2 Kester Avenue. Also, Valley Presbyterian Hospital, Van Nuys Parking 39 High School, the 405 Freeway, and Balboa Park are in close proximity to the subject property. Laundry Facility Yes Subject to Soft-Story No Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2020. All rights reserved. Property Overview | 7026 Sepulveda Blvd. | Van Nuys, CA 5 6 Property Overview 7026 Sepulveda Blvd. Van Nuys, CA Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, | | warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2020. All rights reserved. PROPERTY HIGHLIGHTS • Built in 1978 - Certificate of Occupancy issued 3/26/1979 • LAR3 and Tier 1 (TOC) • Laundry Room • Shaded Courtyard with Barbecue Area and a Dining Table • Secure Parking and Gated Entry • 39 Parking Spaces • Separately Metered for Gas and Electricity • Good Upside Potential • Some of the Units Have a Balcony • Within Close Proximity to the Van Nuys Metro Link, 405 Freeway, Valley Presbyterian Hospital, and the Balboa Park Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, 7 warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2020. All rights reserved. Property Overview | 7026 Sepulveda Blvd. | Van Nuys, CA 7 8 Financial Analysis 8 Property Valuation 7026 Sepulveda Blvd. Van Nuys, CA Colliers International makesColliers no guarantees, International representations makes no orguarantees, warranties representations of any kind, expressed or warranties or implied, of anyregarding kind, expressedthe information or implied, including, regarding but not thelimited to, | | warranties of content, accuracyinformation and reliability. including, This but publication not limited is the to, copyrightedwarranties propertyof content, of Colliersaccuracy International and reliability. and/or This its publication licensor(s). is2020. the copyrightedAll rights reserved. property of Colliers International and/or its licensor(s). 2020. All rights reserved. INVESTMENT SUMMARY Value $7,100,000 Down Payment 38% $2,698,000 Year Built 1978 Units 29 Price/Unit $244,828 RSF 20,224 Price/RSF $351.07 Lot Size 29,213 Zoning LAR3 APN 2220-009-022 CAP Rate 4.00% GRM 14.06 Proforma CAP Rate 4.74% Proforma GRM 12.65 Proposed Financing Loan Amount 62% $4,402,000 Down Payment 38% $2,698,000 Loan Type Fixed Interest Rate 3.65% Term 5 Years Monthly Payment $20,137.37 Debt Coverage Ratio 1.18 *Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification. VALUE CAP RATE GRM PRICE/UNIT PRICE/SF $7,100,000 4.00% 14.06 $244,828 $351.07 Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the FinancialProperty Analysis Valuation | 7026| 7026 Sepulveda Sepulveda Blvd. Blvd. | Van| Van Nuys, Nuys, CA CA 9 copyrighted property of Colliers International and/or its licensor(s). 2020. All rights reserved. RENT ROLL Unit # Unit Type Notes Move-in Last Rent Increase Actual Proforma 1 2+2 Manager 2/1/2006 $0 $1,995 2 1+1 3/12/2013 10/1/2019 $1,389 $1,695 3 1+1 12/16/2017 10/1/2019 $1,655 $1,695 4 1+1 9/1/2004 10/1/2019 $1,399 $1,695 5 1+1 5/21/2016 10/1/2019 $1,379 $1,695 6 1+1 2/1/2018 10/1/2019 $1,608 $1,695 7 1+1 5/5/2012 10/1/2019 $1,376 $1,695 8 1+1 8/19/2016 10/1/2019 $1,374 $1,695 9 1+1 11/1/1993 10/1/2019 $1,399 $1,695 10 Single 4/21/2018 10/1/2019 $1,296 $1,395 11 Single 10/23/2015 10/1/2019 $1,238 $1,395 12 Single 11/8/2016 10/1/2019 $1,343 $1,395 12A Single 10/15/2018 11/1/2019 $1,347 $1,395 14 Single 3/6/2017 $1,325 $1,395 15 1+1 12/15/2018 $1,495 $1,695 16 1+1 10/1/2013 10/1/2019 $1,296 $1,695 17 1+1 5/1/2018 10/1/2019 $1,400 $1,695 18 1+1 Vacant $0 $1,695 19 1+1 7/1/2004 10/1/2019 $1,392 $1,695 20 Single 1/28/2017 10/1/2019 $1,296 $1,395 21 Single 1/29/2017 10/1/2019 $1,260 $1,395 22 Single 2/2/2015 10/1/2019 $1,245 $1,395 23 Single 7/10/2018 10/1/2019 $1,296 $1,395 24 Single Vacant $0 $1,395 25 1+1 7/5/2018 10/1/2019 $1,551 $1,695 26 1+1 10/1/2019 $1,595 $1,695 27 2+2 8/1/2016 10/1/2019 $1,868 $1,995 28 2+2 4/14/2018 10/1/2019 $1,920 $1,995 29 Single 1/1/2011 10/1/2019 $1,243 $1,395 29 20,224 $36,985 $46,755 Gross Scheduled Monthly Rental $36,985 $46,755 Gross Scheduled Annual Rental $443,820 $561,060 Monthly Laundry Income $265 $265 Annual Laundry Income $3,180 $3,180 Total Yearly Scheduled Income $447,000 $564,240 Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, 10 Financial Analysis | 7026 Sepulveda Blvd. | Van Nuys, CA warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2020. All rights reserved. INVESTMENT SUMMARY Annualized Income Actual % Actual Proforma % Proforma Gross Potential Rent $504,840 $561,060 Laundry Income $3,180 $3,180 Gross Potential Income $508,020 $564,240 Less Economic Vacancy -3.00% -$15,145 -3.00% -$16,832 Effective Gross Income $492,875 $547,408 Less Expenses 42.34% $208,703 38.52% $210,884 Net Operating Income: $284,172 $336,524 Less Debt Service $241,648 $241,648 Net Cash Flow After Debt Service 1.58% $42,523 3.52% $94,875 Annualized Expenses Actual % Actual Proforma % Proforma Real Estate Taxes 18.01% $88,750 16.21% $88,750 Insurance 1.53% $7,561 1.38% $7,561 Gas 1.43% $7,056 1.29% $7,056 Electric & Water (DWP) 4.65% $22,926 4.19% $22,926 On-Site Manager 2.12% $10,440 1.91% $10,440 Professional Management 4.00% $19,715 4.00% $21,896 Repairs & Maintenance 5.59% $27,550 5.03% $27,550 Pest Control 0.22% $1,080 0.20% $1,080 Yard & Landscaping 1.64% $8,100 1.48% $8,100 Trash 1.74% $8,558 1.56% $8,558 Telephone 0.40% $1,964 0.36% $1,964 Cleaning 0.58% $2,850 0.52% $2,850 Business Tax & Miscellaneous 0.44% $2,153 0.39% $2,153 Total Expenses 42.34% $208,703 38.52% $210,884 Expenses Per RSF $10.32 $10.43 Expenses Per Unit $7,197 $7,272 Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability.
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