16411 Sunset Blvd A 12-Unit Investment Opportunity in Seaside Pacific Palisades OFFERING MEMORANDUM PROPERTY OVERVIEW We are pleased to offer this twelve unit courtyard pool complex in the beautiful Pacific Palisades. This property is in a prime location with quick and easy access to the Westside. Minutes from the beach, Palisades Village, Third Street Promenade, Venice Boardwalk, and much more. This property epitomizes Southern California coastal beach city. Great unit mix consisting of: 8 1-bedroom / 1-bathroom, PRICE 2 2-bedroom / 1.75-bathroom, and 2 studio units. $4,785,000 PROPERTY INFORMATION 16411 W. Sunset Blvd. Year Built 1958 Lot Size (Sq. Ft.) ~ 12,173 Building (Sq. Ft.) ~ 7,898 Zoning LARD3 APN 4419-011-054 Scheduled Gross Income $248,702.52 GRM 19.24 Building Price $605.84 Per Sq. Ft. The information is from sources deemed reliable. Buyer’s responsibility to verify its accuracy. PROPERTY OVERVIEW 16411 W. Sunset Blvd Pacific Palisades, CA 90272 Zoning LA RD3 APN 4419-011-054 The information is from sources deemed reliable. Buyer’s responsibility to verify its accuracy. FINANCIAL OVERVIEW 16411 W. Sunset Blvd., Pacific Palisades CA 90272 Type of Property Apartment Unit Description Rent per Pro Forma Number of Units 12 No Unit Purchase Price $4,785,000 #1 1bd/1ba $1,604.72 $2,200.00 #2 1bd/1ba $1,850.00 $2,200.00 Scheduled Pro Forma #3 2bd/1.75ba $2,000.48 $2,600.00 Gross Schedule Income $248,702.52 $316,800.00 #4 Studio $962.00 $1,600.00 Vac. and Credit Loss 3.0% $7,461.08 $9,504.00 #5 1bd/1ba $1,850.00 $2,200.00 Gross Operating Income $241,241.44 $307,296.00 #6 1bd/1ba $1,560.00 $2,200.00 Operating Expenses * 36.6% $91,117.50 $91,117.50 #7 1bd/1ba $1,950.00 $2,200.00 Net Operating Income $150,123.94 $216,178.50 #8 2bd/1.75ba $2,073.58 $2,600.00 Loan Payment 1 $0.00 $0.00 #9 Studio $1,465.00 $1,600.00 #10 1bd/1ba $1,695.00 $2,200.00 Cash Flow $150,123.94 $216,178.50 #11 1bd/1ba $1,664.43 $2,200.00 #12 1bd/1ba $1,650.00 $2,200.00 Scheduled Pro Forma Cash-On-Cash Return 3.14% 4.52% CAP Rate 3.14% 4.52% Total Rental Income $20,325.21 $26,000.00 Gross Rent Multiplier 19.24 15.10 Laundry Income (estimated) $4,800.00 $4,800.00 Grand Total (Annual) $248,702.52 $316,800.00 * Expenses include property taxes estimated at 1.15% - $55,027.50 * Operating Expenses estimated The information is from sources deemed reliable, and in some cases projections. and has not been verified. Buyer’s responsibility to verify for accuracy and completeness. SALES COMPARABLES 16411 W. Sunset Blvd., Pacific Palisades CA 90272 Year Unit Building Close Price per Price per COE CAP Sold Property Built Count Sq. Ft. Price Unit Sq. Ft. Rate GRM Date 2508 3rd St. 1965 8 6,512 $3,730,000 $466,250 $572.79 3.72% 18.57 7/10/2019 Santa Monica 1201 Idaho Ave. 1955 10 7,690 $4,290,000 $429,000 $557.87 4.30% 23.55 4/30/2019 Santa Monica 1433 10th St. 1949 10 3,920 $3,850,000 $385,000 $982.14 4.37% 15.50 3/29/2019 Santa Monica 812-818 21st St. 1937 10 5,364 $4,300,000 $430,000 $801.64 2.30% 18.37 6/18/2019 Los Angeles 1239 12th St. 1961 12 7,684 $4,800,000 $400,000 $624.67 4.38% 15.49 6/03/2019 Santa Monica 556 Via de La Paz 1924 6 3,740 $2,722,000 $453,667 $727.80 3.18% 25.59 7/02/2020 Pacific Palisades Subject Property: 11641 W. Sunset Blvd. 1958 12 ~ 7,898 $4,785,000 $398,750 $605.84 3.14% 19.24 Pacific Palisades The information is from sources deemed reliable, and in some cases projections. and has not been verified. Buyer’s responsibility to verify for accuracy and completeness. 16411 W. Sunset Blvd· Pacific Palisades, CA LOCATION OVERVIEW 16411 W. Sunset Blvd. is in a great location in the westside of Los Angeles County, just a short ride from the beach. Offering access to both the beach communities, such as Pacific Palisades, Santa Monica, and Venice, as well as easy access to other westside cities such as Culver City and downtown Los Angeles. This location has a great proximity to dining and shopping along Sunset Blvd and the nearby Palisades Village. ABOUT SULLIVAN-DITURI Sullivan-Dituri Real Estate Company established in 1962 is recognized as a leader in the commercial and rental housing industry on the Westside. Sullivan-Dituri is fully engaged in all aspects of residential income property asset analysis, sales, acquisition and management. William T. Dawson, Vice President William T. Dawson has been with the company since 1990 and is actively engaged in the Property Management and Real Estate sales and serves as company Broker. He holds a B.S. degree in Business Administration and Real Estate Finance from California State University at Northridge. He serves the rental housing industry as a director and Past President of the Apartment Association of Greater Los Angeles (AAGLA) in 2009, served as a director of the Santa Monica Chamber of Commerce, and is a member of the Beverly Hills and Greater Los Angeles Area Association of Realtors, and has been involved with several civic organizations such as the Santa Monica Kiwanis Club, currently a member of the Santa Monica Rotary Club, past President of the Boys and Girls Club Council of Santa Monica and currently serves on the Board of Govenors of the Boys and Girls Clubs of Santa Monica and is past Chairman as of 2009. Sullivan-Dituri Company William Dawson Ryan Dawson 2111 Wilshire Boulevard Cell: (310) 428-0951 Cell: (310) 795-1770 Santa Monica, CA 90403 Work:(310)453-3341 Work:(310)453-3341 Tel: 310.453.3341 DRE No. 01059814 DRE No. 01962971 DRE No. 00755451 [email protected] [email protected].