2118-2134 Griffith Park Blvd Brochure 3-6-2018.Indd

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Prime Silver Lake Investment 2118-2134 Griffi th Park Boulevard | 10-units

Lee & Associates® LA North/Ventura, Inc. WARREN BERZACK Corporate ID #01191898 A Member of the Lee & Associates National Director, Lee Multifamily Advisory Group Group of Companies President, Berzack Investment Property Advisors Lic. #01329015 15250 Ventura Blvd., Suite 100 Sherman Oaks, CA 91403 818.933.0350 P: 818-986-9800 [email protected] F: 818-933-0450 www.lee-associates.com

BERZACK investment property advisors advisors G RIFFITH PARK APARTMENTS 2118-2134 Griffith Park Boulevard | Silver Lake, CA

PROPERTY DESCRIPTION

118-2134 Griffi th Park Blvd is a 10-unit apartment 2property located in the gentrifying city of Silver Lake a submarket of Los Angeles, California. Th e single story apartment community made up of three seperate parcels was built in 1941 and 1953 and consists of 10 apartment homes totaling 6,246 sq. ft .

he property features a unit mix of 1 bedroom & 1 bath Tapartment homes with very functional layouts and patio spaces that serve as an extension of the interior space. Th e owner’s units have tremendous outside space and provide the feeling of being in a home. Front units all have views of the canyon and hills.

LOCATION INFORMATION

Griffi th Park Apartments is located on the SEC of Griffi th Park Blvd and Childs Court just west of Meadow Valley Terrace, east of Hyperion Avenue and south of Silverado Drive.

 Close to the 5 & 2 Freeways  Less than a Mile from Silver Lake Reservoir  Easy Access to the 5 Freeway  Nearby to multiple parks, schools, churches and temples  Minutes from Trader Joe’s, Gelson’s Market; Starbucks and myriad other retail off erings

The information provided herein is from sources we believe are reliable. While we do not doubt BERZACK its accuracy, we have not verified it and make no representations, guarantees or warranties about it. investmentinvestment propertyproperty advisorsadvisors G RIFFITH PARK APARTMENTS 2118-2134 Griffith Park Boulevard | Silver Lake, CA

MULTI-FAMILY INVESTMENT INFORMATION SHEET

Lee Associates - LA North/Ventura, Inc. Warren Berzack 818.933.0350 [email protected] Lic. #01329015

15250 Ventura Boulevard, Suite 100 | Sherman Oaks, CA 91403

PROPERTY NAMEGriffith Park Apartments NUMBER OF UNITS 10 ADDRESS 2118-2134 Griffith Park Blvd. BUILDING SIZE (SQ. FT.) 6,246 CITY, STATE, ZIP Silver Lake (Los Angeles), CA LOT SIZE (SQ. FT.) 16,359 PRICE$5,700,000 COST PER UNIT $570,000

YEAR BUILT1941 & 1953 COST PER SQFT $912.58

INVESTMENT HIGHLIGHTS ප Over 50% Rental Upside ප GentriĮng LocaƟon ප Excellent Unit Mix

RENTAL INFORMATION Current Income Market Income NO. UNITS BDRMS BATHS AVG. RENTMonthly Income RENT Monthly Income 3 1 1 Front with View $2,136$6,409 $3,250 $9,750 4 1 1 Middle Units $2,582$10,326 $3,100 $12,400 3 1 1 Includes Private Outdoor Space $3,089$9,267 $4,500 $13,500

Scheduled Monthly Income: $26,003 $35,650

ANNUAL PROPERTY OPERATING DATA CURRENT INCOME/YEAR MARKET INCOME/YEAR ESTIMATED ANNUAL EXPENSES AS % GOI AS % GOI AS % GOI Scheduled Gross Income $312,036 98.89% $427,800 99.19% Taxes (Est. 1.25%) $71,250 22.58% Garage $3,000 0.95% $3,000 0.70% Insurance ($250/un) $2,500 0.79% Laundry $500 0.16% $500 0.12% Utilities ($85/un/mo) $10,200 3.23% Gross Operating Income $315,536 CURRENT MARKET $431,300 Repairs/Maintanence $15,777 5.00% Vacancy Reserve $9,466 3.00%GRM $12,939 3.00% Effective Gross Income $306,070 18.06 13.22 $418,361 Expenses $102,005 32.33%CAP Rate $102,005 23.65% Pest Control ($50/mo) $600 0.19% Net Operating Income $204,064 64.67% 3.58% 5.55% $316,356 73.35% License/Permits $678 0.21% Debt Service $168,243Cash on Cash $168,243 Miscellaneous $1,000 0.32% Pre-Tax Cash Flow $35,821 1.26% 5.20% $148,112 Principal Reduction $47,930Return On Equity $47,930 Return on Equity $83,751 2.94% 6.88% $196,042

MORTGAGE FINANCING INFORMATION Loan Amount $2,850,000 Monthly Loan Payment $14,020 Down Payment $2,850,000 50% Annual Loan Payment $168,243 TOTAL EXPENSES $102,005 32.33% 5-Year Fixed Rate 4.25% Year 1 Interest Amount (approx.) $120,313 Amortization Period (Yrs) 30 Year 1 Principal Paydown (approx.) $47,930 Expense / NRSF $16.33 Expense / Unit $10,201

RENT ROLL

Unit Type e As of 7/1/18 Market

2118 1+1 Front $2,500.00 $3,250.00 2120 1+1 Middle $2,500.00 $3,100.00 2122 1+1 Owners $4,250.00 $4,500.00 2124 1+1 Owners $1,267.38$4,500.00 2126 1+1 Middle $2,226.20 $3,100.00 2128 1+1 Front $2,424.11 $3,250.00 2130 1+1 Front $1,485.28$3,250.00 2132 1+1 Middle $3,100.00 $3,100.00 2132 1/2 1+1 Middle $2,500.00 $3,100.00 2134 1+1 Owners $3,750.00 $4,500.00

Total: $26,002.97$35,650.00

Annual Rent: $312,035.64 $427,800.00

PROPERTY PHOTOS

AREA INFORMATION

Silver Lake, nestled just below the Hollywood Hills, is a community in the eastern portion of the city of Los Angeles, approximately six miles from downtown Los Angeles. Its population of 30,000 residents is well-educated and upper middle-class with a distinctly hipster flair. Favored for its walkability since it was originally settled in the early 1900s, Silver Lake is still known for its easy access to shops, restaurants and night life as well as its mid-century, modern architecture and artsy vibe. The community offers workers easy access to downtown Los Angeles, along with myriad leisure activities from the Hollywood Bowl to Griffith Park and Dodger Stadium close by. The median home price in Silver Lake ranges from $695,000 to $899,000 depending on the zip code, which may explain why the vast majority of residents here are renters (66.5%.) • Silver Lake Reservoir…Just a mile from the Subject Property, the Reservoir features nearly 100 acres of park land and playgrounds • Sunset Boulevard...Offers numerous shops, restaurants, bars and music clubs. • Farmers Market…Held Tuesdays and Saturdays, the popular market features fresh produce and prepared foods.

DEMOGRAPHIC SUMMARY

1-mile radius 5-mile radius Total Population 34,461 1,075,505 Average Household Income $112,439 $69,380

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