A 6-Unit Multifamily Investment Opportunity in Pico-Robertson 8528 CASHIO STREET Los Angeles, CA 90035

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8528 CASHIO STREET

A 6-Unit Multifamily Investment Opportunity In Pico-Robertson 8528 CASHIO STREET Los Angeles, CA 90035

Exclusively Listed By:

RICH JOHNS Multifamily Investment Advisor 818.432.1575 [email protected]

CALBRE LIC#01432215

8528 Cashio Street • 2 CONTENTS

PROPERTY DESCRIPTION 04 MARKET OVERVIEW 09 FINANCIAL SUMMARY 12 MARKET COMPARABLES 16

8528 Cashio Street PROPERTY DESCRIPTION

8528 Cashio Street • 4 THE Offering

Centrally8528 located Cashio in Street,Silver builtLake, in 1956,just issouth located of in Sunset the Pico- The location of this building offers residents an impres- Boulevard,Robertson 4509 Willowneighborhood Brook which Avenue is one ofis L.A.’spoised strongest to sive array of entertainment, lifestyle and retail amenities. capitalizeand on thestable tremendous rental markets. momentum in the Hollywood- Within minutes, residents can enjoy boutique shops, Silver Lake submarket. Furthermore, the subject chic restaurants, cool meeting spots and artistically property’sThe transit asset orientedboasts Four and (4)highly One walkable Bedroom location - One (1) offers residents access to myriad entertainment venues, inclined venues. cultural destinations,Bathroom units and and Twodining (2) Twooptions Bedroom nearby. - One Given (1) units. the property’s location and strong income metrics, 4509 With a walk score of 84, this pocket of Pico-Robertson Parking is provided for 6 vehicles in either on-grade Willow Brook Avenue is an ideal investment for apartment is a walker’s paradise. operatorsor seeking garage(s) immediate and gas/electrical returns along utilities with are long separately term wealth preservationmetered. and appreciation. Below market rents offer the astute investor significant rental upside potential.

8528 Cashio Street • 5 INVESTMENT Highlights

THE LOCATION: • Desirable Pico-Robertson Location • Less Than One Mile from the Beverly Hills Border • Rich in Amenities - Restaurants, Retail and Entertainment • Walk Score of 84

PROPERTY & INCOME HIGHLIGHTS • Built in 1956 • Below Market Rents / Significant Upside Potential • Large Units / One and Two Bedroom Units • Original Hardwood flooring / Bright Units / Vintage Tilework • No Soft Story Retrofit Required

8528 Cashio Street • 6 EXTERIOR

8528 Cashio Street • 7 INTERIOR

8528 Cashio Street • 8 MARKET OVERVIEW

8528 Cashio Street • 9 A Prime Pico-Robertson Location

Pico-Robertson is in CLOSE PROXIMITY TO • Beverly Hills, Beverly wood, Century City and Mid-City Los Angeles County • Brand New Starbucks • Hollywood Pies for delicious Chicago style deep dish pizza and is one of the • Vons • Glatt Mart best places to live in • Carthay Center Elementary School • Cedars Sinai Medical group California. • Robertson Recreation Center • Roxbury Park “- Niche.com The property is located blocks away from the core of LOCATION FUNDAMENTALS three of the most enticing neighborhoods in Los Angeles Millennials have ditched the suburbs for a more active and County- Beverly Hills, Beverlywood, and Carthay Square. dynamic urban lifestyle. Many don’t own or want to own Due to its eclectic location and walkability, residents enjoy cars, so they rely on walking, biking, Metro or Uber. There unparallaled access to a wide variety of employment, is a limited supply of housing in Los Angeles, and especially entertainment, and cultural experiences that few other in Pico-Robertson, which is causing upward pressure on neighborhoods in LosAngeles can match. rents. Research firm Axiometrics projects rental rates are to increase by 25% over the next five years. Following this uprising of trendy and eclectic residents is a diverse base of restaurants, bars, and retail shops that bring a wide range of cultural experiences to the area. Within the URBAN LIVING WITH WALKABILITY existing location, residents have the opportunity to walk As the most densely populated area in Los Angeles, Pico- to nearby restaurants and cafes, take the metro into the Robertson is a highly walkable submarket. Residents can heart of Hollywood, or spend the afternoon in an adjacent travel on foot to complete their daily errands and stroll to neighborhood via short commute. the many restaurants, clubs, chic hotels and restaurants. Scoring 84 out of 100, the property is located in what You can get there from here: Pico-Robertson is convenient walkscore.com considers “Very Walkable”. to Century City, Beverly Hills, Culver City, Sawtelle, the Wilshire District and more, making it a great place to live for people who hate long commutes.

Restaurant row: Love kosher food? Chinese food? Kosher Chinese food? Good, because Pico-Robertson has all of this and more.

8528 Cashio Street • 10 Restaurants and Bars Groceries and Markets A WALKABLE Nick’s Coffee Shop The Cask TRANSIT-ORIENTED COMMUNITY Bloom Care Vons Smart & Final Twin Dragon Cafe 8528 Cashio Street boasts a staggering 84 Walk Score and 59 Transit Score, a Yoshinoya GNC Wok On Fire Bevwood Market rare combination for apartment buildings in Southern California. Jeff’s Gourmet Glatt Mart Hansen’s Cakes The property is located blocks away from the core of three of the most enticing neighborhoods in Los Angeles Panda Express County- Beverly Hills, Beverlywood, and Carthay Square. Due to its eclectic location and walkability, residents Cicerro Pizza enjoy unparallaled access to a wide variety of employment, entertainment, and cultural experiences that few Komodo Restaurant other neighborhoods in Los Angeles can match. KFC Entertainment & Shopping Jack in the Box The Mint Oasis Mediterranean Levantine Cultural Center Starbucks LA Mirror Man WALK SCORE WALK SCORE WALK SCORE Pizza Hut 84 59 61 Petra’s Gallery “VERY WALKABLE” “GOOD TRANSIT” “BIKABLE” Versailles Maze Rooms Beverlywood Bakery Music City Most errands can be Many nearby public Flat, minimal bike Factor’s Famous Deli La Cienega Jewelry accomplished on foot. transportation options. lanes. Mandrake Jerry’s Garden La Costa Del Sol Subway Taj Mahal of India

THE MINT

8528 Cashio Street • 11 FACTOR’S FAMOUS DELI NICK’S FINANCIAL SUMMARY

8528 Cashio Street • 12 8528 Cashio Street, Los Angeles, CA 90035 FINANCIAL Summary

MARKET RENT FINANCIAL INDICATORS SOURCE OF INCOME CURRENT RENT Post Renovation Price $2,325,000 # of Units Unit Type Avg. Rent Total Avg. Rent Total 4 1 Bedroom / 1 Bathroom $1,152 $4,419 $1,995 $7,980 Cost Per Unit $387,500 2 2 Bedroom / 1 Bathroom $1,386 $2,486 $2,495 $4,990 Price per SF $463.79 Total Rental Income $7,381 $12,970 Laundry Income Estimated (owned) $55 $55 Total Monthly Income $7,436 $13,025 BUILDING DATA Total Annual Income $89,228 $156,300 Units* 6 Year Built 1956 Building SF 5,018 Land SF 6,011 EST. ANNUALIZED OPERATING DATA CURRENT MARKET Parking Spaces 6 Vehicles Scheduled Gross Income $89,228.40 $156,300 Less Vacancy 2.0% ($1,785) 2.0% ($3,126) Gross Operating Income $87,444 $153,174 Less Expenses 46.3% $40,499 25.9% $40,499 ESTIMATED ANNUALIZED EXPENSES Net Operating Income $46,945 $112,675 New Property Taxes $28,598 Utilities $3,900 Property Insurance $2,757 NOTATIONS: Registration Fees $384 Repairs & Maintenance: Estimated based on a proforma cost of $550/unit/year/post renovation Pest Control $660 Contract Service: Expenses for landscaping($75/mo) and pest control ($55/mo) based on market rates Landscaping $900 Utilities: Utilities Based on proforma expense of $650/unit/year Repairs & Maintenance Estimate $3,300 Rental Registrtion: Based on $64/unit/year Total Estimated Expenses $40,499 Property Insurance: Based on $0.55 per SF as industry standard

8528 Cashio Street • 13 8528 Cashio Street, Los Angeles, CA 90035 RENT Roll

UNIT STATUS UNIT TYPE Current Rent Market Rent Post Renovation 1 Occupied 1 Bedroom / 1 Bathroom $1,070.00 $1,995.00 2 Occupied 1 Bedroom / 1 Bathroom $1,025.95 $1,995.00 3 Occupied 2 Bedroom / 1 Bathroom $1,250.00 $2,495.00 4 Occupied 1 Bedroom / 1 Bathroom $986.00 $1,995.00 5 Occupied 1 Bedroom / 1 Bathroom $1,526.03 $1,995.00 6 Occupied 2 Bedroom / 1 Bathroom $1,522.72 $2,495.00 Monthly Total $7,380.70 $12,970.00 Annual Total $88,568.40 $155,640.00

8528 Cashio Street • 14 8528 CASHIO STREET Property Details

8528 Cashio Street • Los Angeles, • CA 90035 Assessor’s Parcel Number 4303-032-006 Buildings One Year Built 1956 Land Use Apartments Zoning LAR3 Stories Two

SITE DESCRIPTION Units 6 Gross Square Footage 5,018 Lot Size Square Footage 6,011 Parking 6

UTILITIES Electric Separately Metered - LADWP Gas Separately Metered - LADWP

CONSTRUCTION Foundation Raised Foundation Framing Wood Frame Exterior Stucco Roof Pitched Topography Flat

8528 Cashio Street • 15 MARKET COMPARABLES

8528 CASHIO STREET

8528 Cashio Street • 16 SALES Comparables 8528 Cashio Street

1) 8546 Cashio St 2) 1001 S Shenandoah St 3) 1474 S Wooster St

8528 Cashio Street • 17 SALES Comparables

YEAR PROPERTY BUILT UNITS BLDG SF PRICE CAP GRM $/UNIT $/SF CLOSED 8528 Cashio Street JUST 1956 6 5,01 - - - - - Los Angeles, CA 90035 8 LISTED 8546 Cashio St 1 1953 6 5,816 $2,700,000 4.12% 17.04 - $484.24 12/16/2020 Los Angeles, CA 90035 1001 S Shenandoah St 2 1948 6 5,262 $2,380,500 4.50% 15.00 $3,96,750 $452.39 9/18/2020 Los Angeles, CA 90035 1474 S Wooster St 3 1953 6 4,324 $1,780,000 - - $296,667 $411.66 9/9/2020 Los Angeles, CA 90035

8528 Cashio Street • 18 RENT Comparables 8528 Cashio Street

1) 1054 S Bedford St 2) 9169 Alcott St 3) 1025 S Holt Ave 4) 1449 Rexford Dr 5) 1455 S Beverly Dr 6) 1136 S Wooster St 7) 6066 Cashio St 8) 1503 S Durango Ave 9) 6107 Horner St 10) 1227 Stearns Dr 11) 1503 S Durango Ave

8528 Cashio Street • 19 RENT Comparables ONE BEDROOM/ TWO BEDROOM / ONE BATH ONE BATH

Property Units Year Built Owner/Manager Rent Rent 8528 Cashio Street 6 1956 Private Owner $1,152 $1,386 Los Angeles, CA 90035 Owner Managed 1 1054 S Bedford St 23 1965 Private Owner $2,100 Los Angeles, CA 90035 Owner Managed 2 9169 Alcott St 8 1969 Private Owner $2,100 Los Angeles, CA 90035 Owner Managed 3 1025 S Holt Ave 25 1969 Private Owner $2,195 Los Angeles, CA 90035 Owner Managed 4 1449 Rexford Dr 7 1966 Private Owner $2,200 Los Angeles, CA 90035 Owner Managed 5 1455 S Beverly Dr 6 1946 Private Owner $2,200 Los Angeles, CA 90035 Owner Managed 6 1136 S Wooster St 24 1966 Private Owner $2,295 Los Angeles, CA 90035 Owner Managed 7 6066 Cashio St 2 1930 Private Owner $2,795 Los Angeles, CA 90035 Owner Managed 8 1503 S Durango Ave 2 1931 Private Owner $2,795 Los Angeles, CA 90035 Owner Managed 9 6107 Horner St 4 1929 Private Owner $2,900 Los Angeles, CA 90035 Owner Managed 10 1227 Stearns Dr 2 1926 Private Owner $3,000 Los Angeles, CA 90035 Owner Managed 11 1503 S Durango Ave 2 1931 Private Owner $3,000 Los Angeles, CA 90035 Owner Managed AVERAGE: $2,182 $2,898 HIGH: $2,295 $3,000 LOW: $2,100 $2,795

8528 Cashio Street • 20 CONFIDENTIALITY AGREEMENT

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of signifi- cance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and in- vestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Studio City in compliance with all applicable fair housing and equal opportunity laws. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

8528 Cashio Street • 21 Exclusively Listed By:

RICH JOHNS Multifamily Investment Advisor 818.432.1575 [email protected]

CALBRE LIC#01432215

8528 Cashio Street • 22