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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 investigations 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. RE/MAX makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. RE/MAX 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 Mike Monteleone, Broker, CCIM, CRS increased to that level. Parties must evaluate any applicable contractual and governmental limitations The Monteleone Group 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 RE/MAX Olson should be discussed by the party with a certified public accountant or tax attorney. Title questions 818-917-1789 Cell should be discussed by the party with a title officer or attorney. Questions regarding the condition of CalBRE#00404713 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 [email protected] governmental agencies. All properties and services are marketed by RE/MAX in compliance with all www.TheMonteleoneGroup.com applicable fair housing and equal opportunity laws. 3 ADDRESS 1 22750 - 22754 Ventura Boulevard
ADDRESS 2 22751 Del Valle Street
CITY Woodland Hills, CA 91364
APN 2040-031-014 & 2040-031-24
RESIDENTIAL UNITS 3 (LAR3 Zoning)
RETAIL UNITS 2 (LAC4 Zoning)
2,700 Retail TOTAL BUILDING SF 2,080 Apartments
TOTAL LOT SIZE 13,000
YEAR BUILT 1955 & 1953
PARKING 9 Spaces at Rear
4 5 6 Mix Use properties - C4 and R3 sold together. Owner/User or Located between Fallbrook Ave and Ponce Ave on the South side Investor opportunity on Ventura Boulevard. Zoned C4 and R3 for of Ventura Blvd. Close to North and South bound ramp access to commercial and residential mix use construction. Useable US 101. This stretch of Ventura Bl is undergoing rapid commercial/retail space of 2,700 +/- SF and a Triplex Apartment redevelopment as the gateway to affluent communities of Hidden building, consisting of one, 2-bedroom and two, 1-bedroom Hills, Calabasas and Bell canyon. This is a rare street to street apartments. Total combined lot size is 13,000 SF +/-. Owner’s property. business, Castle Draperies is also for sale.
Warner Center adjacent, which by 2035, the location anticipates a This portion of Ventura Boulevard is part of the "Reimagine the development boom consisting of an additional: Boulevard" zone. Proposed new street lighting, landscaping, bike • 14 million square feet of nonresidential building area lanes, signaled cross walk, a center medium, and increase the • 20,000 residential dwelling units number of on-street parking spaces, including by adding diagonal • 49,000 jobs or angled parking
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DEVELOPMENT LOCATION TYPE 336 Units and 275 parking stalls located at-grade and on one subterranean level. Mix of independent, assisted living, and memory care units, in 1 6233 N. Variel Avenue addition to ancillary features such as a beauty salon, a wood shop, a multi-purpose room, a gym, a yoga studio, and a swimming pool.
Seven-story, 188,000-square-foot senior care facility, containing 86 independent living units, 74 assisted living units, and 30 memory care guest 2 6033-6039 N. De Soto Avenue rooms
3 22121 Clarendon Street Five stories in height and feature 335 studio, one-, two-, and three-bedroom apartments with a 562-car parking garage.
1,432 residential units; approximately 244,000 square feet of shops and restaurants; approximately 629,000 square feet of office space; up to 572 4 6100 N. Topanga Canyon Boulevard hotel rooms, and a 320,000-square-foot, 15,000-seat sports and entertainment center.
5 Erwin Street & Variel Avenue Seven stories tall at completion, featuring 241 residential units atop a parking garage and ground-floor retail space.
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10 PRICING FINANCING THE ASSET Price $1,995,000 Down 50% $997,500 Units 5 Price/Unit $399,000 Loan 50% $997,500 Year Built 1955 & 1953 Price/SF $417.36 Ammort Years 25 Gross SF 4,780 GRM 14.23 12.47 Interest Rate 4.25% Lot SF 13,000 Cap 5.25% 5.44% Payments ($5,384) APN 2040-031-014; 024 Current Market
MONTHLY RENT SCHEDULE # of Units Type Estimated SF Avg.Current Rent/SF Current Total Market Rent/SF Market Total 1 1+1 660 $1,600 $2.42 $1,600 $1,750 $2.65 $1,750 1 1+1 660 $1,530 $2.32 $1,530 $1,750 $2.65 $1,750 1 2+1 750 $1,865 $2.49 $1,865 $1,865 $2.49 $1,865 1 Retail 900 $1,739 $1.93 $1,739 $2,655 $2.95 $2,655 1 Retail 1,800 $4,950 $2.75 $4,950 $5,310 2.95 $5,310 5 $11,684 $13,330
ANNUALIZED INCOME Current Market Gross Potential Rent $140,208 $159,960 Less Vacancy 3.00% ($3,730) 3% ($4,799) Scheduled Gross Income $136,478 $155,161
ANNUALIZED EXPENSES Current Market
Total Operating Expenses $31,688 $46,700
Total Expenses $31,688 $46,700 Expenses/Unit $6,338 $9,340 Expenses/SF $6.63 $9.77 % of EGI 23.22% 30.10%
RETURN Current Market NOI $104,790 $108,461 Less Debt ($64,608) ($64,608) Cashflow $40,182 $43,853 Cash on Cash 4.03% 4.40%
11 12 Address & Total Units Building SF Lot SF Type Built Sale Date Price Price/SF 1 5319-5325 Topanga Canyon Boulevard 5,150 7,300 Medical 1955 07/18/19 $2,300,000 $446.60 Woodland Hills, CA 91364 Office
2 21414 Ventura Boulevard 4,800 6,534 Retail 1962 11/29/18 $1,780,000 $370.83 Woodland Hills, CA 91364
3 23031 Ventura Boulevard 4,142 6,054 Office 1980 On Market $2,200,000 $531.14 Woodland Hills, CA 91364
Total/Averages $449.53 S Subject 4,780 13,000 Mixed Use 1955 & 1953 List Price $1,995,000 $417.36 22750-22754 Ventura Boulevard Retail 22751 Del Valle Street Residential Woodland Hills, CA 91364
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13 14 COMMUNITY SNAPSHOT
POPULATION 73,152
MEDIAN AGE 44.2
SQUARE MILES 16.6
MEDIAN HH INCOME $106,355
MEDIAN RENT $2,113
15 WARNER CENTER THE WARNER CENTER 2035 PLAN Warner Center is a master-planned neighborhood and business district development in the Canoga Park and Woodland Hills neighborhoods of the San Fernando Valley in Los Angeles, California. The Warner Center 2035 Plan (WC 2035 Plan) is a development blueprint for Warner Center that emphasizes mixed-use and transit-oriented development, walkability, and sustainability. Warner Center, which began as a master-planned area, is designated as a Regional Center within the
City's Canoga Park-West Hills-Winnetka-Woodland Hills Community Plan. Historically, Warner Center A Citizen's Advisory Committee was established in 2005, is generally bounded by Vanowen Street to the north, the Ventura Freeway to the south, De Soto consisting of members of the local neighborhood councils Avenue to the east, and Topanga Canyon Boulevard on the west. The Warner Center 2035 Plan including the Woodland Hills-Warner Center Neighborhood (adopted in December 2013) added the area between Vanowen and the LA River to the plan area, Council and the Canoga Park Neighborhood Council as well as business and property owners, which worked with city planning which comprises approximately 1,100 acres or 1.7 square miles staff and its consultants to develop the plan. In December 2013 the plan was adopted by the Los Angeles City Council.
By 2035, the plan anticipates an additional: ▪ 14 million square feet of nonresidential building area ▪ 20,000 residential dwelling units ▪ 49,000 jobs
16 CLOSE TO IT ALL TENANTS Located in the center of the action that is Warner Center, The Village is located between the Westfield Topanga and Westfield Promenade creating one large mixed-use area for shopping, entertainment, and dining. It features an open air plaza project that presents a community concept to the area. With park-like landscaping and open-air walkways, visitors find The Village as a destination rather than simply someplace to shop.
PROMOTING CULTURE Community and culture are an important component to The Village at Woodland Hills. Aside from the open-air design and water fountains which promote personal and community growth and interaction, a museum component of the project is also being introduced. A community center within The Village also promotes civic activities for the old and the young to enjoy.
17 WESTFIELD TOPANGA & THE VILLAGE For shopping, join the celebrities and locals who love the Westfield Topanga mall. In fact, don’t be surprised if you run into a reality star or two while you’re riding the merry go round or browsing the nearly 300 shops. The Westfield Topanga mall and Westfield Promenade are a shopper's dream, and will soon combine to form the largest shopping mall in California.
UPPER LAS VIRGENES CANYON OPEN SPACE PRESERVE For more active pursuits, the hiking in this area is epic. Head over to the Upper Las Virgenes Open Space Preserve, which spans nearly 3,000 acres. The preserve has several hiking trails that take you through rolling hills and let you experience scenic vistas. If hiking is not your thing, you can picnic among shady oaks or enjoy mountain biking.
TOP OF TOPANGA OVERLOOK High above the San Fernando Valley, the Top of Topanga Overlook provides breathtaking views of the Santa Monica Mountains, San Gabriel Mountains and the San Fernando Valley below. The overlook is also a great place to have a picnic, and is surrounded by native plants and flowers. At night, you can see the sparkling city lights and take in an unforgettable vista.
18 ORCUTT RANCH HORTICULTURAL CENTER Orcutt Ranch, or Rancho Sombra del Roble, is a historical ranch centered around the home of oil pioneer W.W. Orcutt. You can take a walk through the Orcutt Ranch gardens with its citrus orchards and 700-year-old oak trees. The Orcutt residence is an architectural masterpiece that blends Spanish Colonial Revival with Mission Revival style.
DIRTY BULL TAVERN Grab a cold brew, catch a sporting event or play a game of darts at Dirty Bull Tavern on Ventura Boulevard. The Dirty Bull Tavern prides itself on its full bar, which features over 40 beers on tap. The generous daily happy hour offers great prices like $3 select beers and $10 pitchers of Budweiser and Bud Light.
WHITE HARTE PUB The White Harte Pub is an authentic British gastropub on Ventura Boulevard. In addition to its selection of beers, wines and cocktails, White Harte features a menu of hearty British and American fare. You'll imediately notice the vibrant and friendly crowd - especially if during a soccer game. For darts, food, and drinks the White Harte Pub is a great place to hang out.
19 20 Mike Monteleone, Broker, CCIM, CRS The Monteleone Group RE/MAX Olson 818-917-1789 Cell CalBRE#00404713
[email protected] www.TheMonteleoneGroup.com