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4410 Sepulveda.Mpd2 Patio Del Cielo SHERMAN OAKS, CA OFFERING MEMORANDUM Patio Del Cielo SHERMAN OAKS, CA CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Patio Del Cielo TABLE OF CONTENTS Section 1 PRICING AND FINANCIAL ANALYSIS Section 2 PROPERTY DESCRIPTION Section 3 RECENT SALES Section 4 RENT COMPARABLES Section 5 MARKET OVERVIEW Section 6 DEMOGRAPHIC ANALYSIS PRICING AND FINANCIAL ANALYSIS Patio Del Cielo SHERMAN OAKS, CA Patio Del Cielo SHERMAN OAKS, CA PRICING AND FINANCIAL ANALYSIS OFFERING SUMMARY Unit Mix No. of Unit Approx. Units Type Square Feet 12 2 Bdr 2 Bath 1,048 4 2 Bdr 2 Bath 1,113 14 2 Bdr 2 Bath 1,115 - 1,162 1 3 Bdr 2 Bath 1,782 31 Total 38,657 Major Employers Kaiser Permanente Northrop Grumman Corp. The Boeing Co. Price $18,500,000 Kroger Co. Down Payment 100% / $18,500,000 Cedars-Sinai Medical Center Price/Unit $596,774 Price/SF $478.57 University of Southern California Number of Units 31 Target Gross Square Feet 38,657 Bank of America Corp. Number of Buildings 1 The Home Depot Year Built 2010 Lot Size 14,967 SF Providence Health & Services Vital Data Demographics CAP Rate - Current 3.08% 1-Mile 3-Miles 5-Miles GIM - Current 18.51 Net Operating Income - Current $570,648 Demographics2014 Total 20,882 145,992 444,452 Total Return - Current 3.1% / $570,648 Population CAP Rate - Pro Forma 3.81% 2019 Total 21,175 148,017 450,722 GIM - Pro Forma 16.19 Population Net Operating Income - Pro Forma $705,438 2014 Total 10,210 61,825 172,827 Total Return - Pro Forma 3.8% / $705,438 Households 2019 Total 10,374 62,883 175,817 Households Median HH Income $69,671 $65,150 $55,147 Per Capita Income $56,626 $47,842 $37,581 (based on Total Population) Average (Mean) HH $115,761 $112,567 $96,228 Income This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0121267 Marcus & Millichap. All rights reserved. Patio Del Cielo SHERMAN OAKS, CA PRICING AND FINANCIAL ANALYSIS FINANCING Existing Financing Loan Type Other Please contact Listing Agent. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap. All rights reserved. 2 Patio Del Cielo SHERMAN OAKS, CA PRICING AND FINANCIAL ANALYSIS UNIT MIX No. of Unit Approx. Rent/ Monthly Pro Forma Rent/ Monthly Current Rents Units Type Square Feet SF Income Rents SF Income 12 2 Bdr 2 Bath 1,048 $2,360 - $2,665 $2.32 $30,274 $2,900 $2.48 $34,800 4 2 Bdr 2 Bath 1,113 $2,565 - $2,718 $2.37 $10,592 $2,950 $2.47 $11,800 14 2 Bdr 2 Bath 1,115 - 1,162 $2,450 - $2,745 $2.20 $36,226 $2,950 $2.46 $41,300 1 3 Bdr 2 Bath 1,782 $2,670 $1.50 $2,670 $3,800 $2.13 $3,800 31 TOTAL 38,657 $79,762 $91,700 Unit Mix Unit Rent & Rent/SF 3B2B: 3% $2,700 $2.40 $2,400 $2.10 $2,100 $1.80 $1,800 $1.50 $1,500 $1.20 $1,200 $0.90 $900 $0.60 $600 $300 $0.30 2B2B: 97% $0 $0.00 2B2B 2B2B 2B2B 3B2B This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap. All rights reserved. 3 Patio Del Cielo SHERMAN OAKS, CA PRICING AND FINANCIAL ANALYSIS RENT ROLL Unit Number Unit Unit Current Rent/ Market Rent/ Type SF Rent SF Rent SF 101 2 Bdr 2 Bath 1,049 $2,621 $2.50 $2,900 $2.76 102 2 Bdr 2 Bath 1,048 $2,360 $2.25 $2,900 $2.77 104 3 Bdr 2 Bath 1,782 $2,670 $1.50 $3,800 $2.13 105 2 Bdr 2 Bath 1,115 $2,520 $2.26 $2,950 $2.65 106 2 Bdr 2 Bath 1,115 $2,450 $2.20 $2,950 $2.65 107 2 Bdr 2 Bath 1,048 $2,431 $2.32 $2,900 $2.77 108 2 Bdr 2 Bath 1,113 $2,565 $2.30 $2,950 $2.65 201 2 Bdr 2 Bath 1,049 $2,590 $2.47 $2,900 $2.76 202 2 Bdr 2 Bath 1,048 $2,695 $2.57 $2,900 $2.77 203 2 Bdr 2 Bath 1,122 $2,539 $2.26 $2,950 $2.63 204 2 Bdr 2 Bath 1,162 $2,745 $2.36 $2,950 $2.54 205 2 Bdr 2 Bath 1,122 $2,470 $2.20 $2,950 $2.63 206 2 Bdr 2 Bath 1,122 $2,610 $2.33 $2,950 $2.63 207 2 Bdr 2 Bath 1,048 $2,443 $2.33 $2,900 $2.77 208 2 Bdr 2 Bath 1,113 $2,642 $2.37 $2,950 $2.65 301 2 Bdr 2 Bath 1,049 $2,615 $2.49 $2,900 $2.76 302 2 Bdr 2 Bath 1,048 $2,410 $2.30 $2,900 $2.77 303 2 Bdr 2 Bath 1,122 $2,745 $2.45 $2,950 $2.63 304 2 Bdr 2 Bath 1,162 $2,685 $2.31 $2,950 $2.54 305 2 Bdr 2 Bath 1,122 $2,495 $2.22 $2,950 $2.63 306 2 Bdr 2 Bath 1,122 $2,505 $2.23 $2,950 $2.63 307 2 Bdr 2 Bath 1,048 $2,450 $2.34 $2,900 $2.77 308 2 Bdr 2 Bath 1,113 $2,667 $2.40 $2,950 $2.65 401 2 Bdr 2 Bath 1,049 $2,665 $2.54 $2,900 $2.76 402 2 Bdr 2 Bath 1,048 $2,534 $2.42 $2,900 $2.77 403 2 Bdr 2 Bath 1,122 $2,540 $2.26 $2,950 $2.63 404 2 Bdr 2 Bath 1,162 $2,620 $2.25 $2,950 $2.54 405 2 Bdr 2 Bath 1,122 $2,670 $2.38 $2,950 $2.63 406 2 Bdr 2 Bath 1,122 $2,632 $2.35 $2,950 $2.63 407 2 Bdr 2 Bath 1,048 $2,460 $2.35 $2,900 $2.77 408 2 Bdr 2 Bath 1,113 $2,718 $2.44 $2,950 $2.65 TOTAL VACANT $0 $0 31 TOTAL OCCUPIED 34,628 $79,762 $91,700 31 TOTAL 34,628 $79,762 $91,700 1) Rent Roll Effective July 12th, 2016 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information.
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