18103 Coastline Drive 18103 Coastline Drive Malibu, CA 90265 Marketing Package 18103 Coastline Drive Description Drone Photography Local Hotspots Nearby Developments Set-Up Rent Roll Crables Rental Comparables Closing Deals Sales Comparables ű e - $4,388,000 Kenny Stevens Team is pleased to present 18103 Coastline Drive, a well- Ě4 maintained four-unit multifamily property overlooking the Pacific Ocean in the tranquil coastal community of Malibu. Located around the corner Year Built - 1967 from The Getty Villa and one mile north of Sunset Boulevard, residents are close in proximity to the Pacific Palisades and Santa Monica. The property’s proximity to the Pacific Coast Hwy. and 10 Fwy. provides Building Size - 4,858 SF residents easy access to employment hubs thoughout Los Angeles. The 4,858 SF two-story building sits on a 12,288 SF lot, and is comprised - 12,288 SF of (4) bright and spacious two-bedroom and two bath units featuring stunning panoramic ocean views from every room (except the back - $1,097,000 bedroom). Each unit comes equipped with a washer and dryer. Additionally, the subject property includes 6 side-by-side garage parking - Malibu spots. This beachside property oers a significant value-add opportunity to potential investors, as current rents are approximately 43% below market value for nicely remodeled units in the area. Cross Streets 1522 N Mariposa Ave. Coastline Drive & ŚšŚřŜ Pacific Coast Highway Ġ ĕ ŜřĚŮŮ Ġ Ę - LAR3 4443-009-042 | Drone Photography The Getty Villa 18103 Coastline Drive | Drone Photography 18103 Coastline Drive 18103 Coastline Drive | Drone Photography 18103 Coastline Drive Financials Approximate Age: 1967 Price Per SF: $903 Approximate Lot Size: 12,288 SF Current CAP: 2.91% 18103 Coastline Drive Approximate Gross RSF: 4,858 SF Market CAP: 4.80% Investment Summary Annualized Operating Data Price: $4,388,000 Current Rents Market Rents Down Paymen t: 100% $4,388,000 Scheduled Gross Income: $202,236 $288,000 Number of Units : 4 Vacancy Allowance: $6,067 3% $8,640 3% Price Per Uni t: $1,097,000 Gross Operating Income: $196,169 $279,360 Current GRM: 21.70 Less Expenses: $68,583 34% $68,583 24% Potential GRM: 15.24 Net Operating Income: $127,586 $210,777 Proposed Financing: $0 Less Loan Payment: $0 $0 Pre-Tax Cash Flow: $127,586 2.91% $210,777 4.80% Loan Rate: 3.63% Fixed for 30 Years Loan Duration: 30 Years Plus Principal Reduction: $0 $0 Total Return Before Taxes: $127,586 2.91% $210,777 4.80% Income Expenses* Current Rents Potential Rents Taxes (new): 1.25% $54,850 # of Units Bed/Baths Monthly Rent/Unit Monthly Income Monthly Rent/Unit Monthly Income Insurance: $1,943 4 2 + 2 $3,548 - $4,900 $16,853 $6,000 $24,000 Utilities: $2,700 Repairs/Maintenance: $8,089 Professional Mgmt: $0 On-site Manager: $0 Total Scheduled Rent: $16,853 $24,000 Reserve / Misc: $1,000 Laundry Income: $0 $0 Total Expenses: $68,583 Other Income: $0 $0 Per Sq. Ft. $14.12 Monthly Scheduled Gross Income: $16,853 $24,000 Per Unit: $17,146 Annual Scheduled Gross Income: $202,236 $288,000 EXPENSES ARE ESTIMATED 18103 Coastline Drive ent oll Ŷ T Current ent ent Ě Notes 5 2 + 2 $4,005 $6,000 Lower Unit | Includes 1 parking spot 6 2 + 2 $4,900 $6,000 Upper Unit | Remodeled | Includes 2 parking spots 7 2 + 2 $4,400 $6,000 Lower Unit | Remodeled | Includes 1 parking spot 8 2 + 2 $3,548 $6,000 Upper Unit | Includes 2 parking spots Laundry Income: $0 $0 Other Income: $0 $0 ė $16,853 $24,000 ė $202,236 $288,000 Neighborhood Introducing: Malibu A Legendary Coastal Community Nestled along a pristine stretch of the Pacific Ocean, Malibu is one of the few remaining beachside communities that has held onto its small-town charm. Located just north of the Pacific Palisades and Santa Monica, this elite coastal enclave has its own delightfully down-to-earth vibe that is perfect for residents looking a distinct sense of privacy. Malibu features some of California’s most idyllic coastline, upscale retail, and world-renowned beachside restaurants. The neighborhoods pristine beaches are famed for a reason, representing some of Califonia’s most stunning scenery. Jagged to its stunning shores. This charming neighborhood is comprised of educated professionals and families holding high-income position in creative and tech-focused industries; who are capable Additionally, Malibu residents enjoy a close-knit community while being in close proximity to one of the world’s largest tech bubbles. In addition to its residents, Malibu -aka the ‘Bu- attracts surfers, swimmers and sun-seeking daytrippers. It’s a neighborhood of active individuals who balance jogging along the beach and hiking the nearby canyons while enjoying oysters and fresh seafood at the many bustling restaurants along the coastline. Located in the heart of the Malibu Civic Center, Malibu Country Mart features unique and upscale boutiques, art galleries, restaurants and personal services set in an astoundingly beautiful atmosphere. Malibu Country Mart A bespoke walkable village is home to over 40 uniquely curated boutiques, entertainment and fresh-food experiences. Notable tenants include Erewhon, Lululemon, Blue Ribbon Sushi, Vince and Madewell. This 0.5 mile stretch of white sand beach sits just o the historic Pacific Coast Highway. With surf waves and proximity to award-winning beachside restaurants, this beach serves as the perfect weeekend outing. Ratner Beach Known as the former esate of American humorist Will Rogers, this sprawling park with breathtaking views of Los Angeles and the Pacific Ocean. Additionally, the park features lush polo grounds, a variety of hiking trails and serves as a working ranch. Ŝ A premier Los Angeles shopping and dining mecca, 3rd St. is a massive outdoor mall oering a wide selection of trendsetting retail shops and crowd favorite dining options. Palisades Village 3rd Street Promenade Will Rogers State Park 3 5 3 4 3 4 Subject Property 3 4 Subject Property 5 4 2 1 1346 N. Laurel 3 1 3 2 4 5 Hay1worth Portfolio 2 1 1014 & 11018 Mooney Dr. 2 2 5 3 1 Subject Property 2 Subject Property: 18103 Coastline Drive Address Notes 1) Malibu Country Mart Unique and upscale boutiques, art galleries, restaurants and personal services 2) Palisades Village A bespoke walkable village is home to over 40 uniquely curated boutiques, entertainment and fresh-food options 3) Ratner Beach This 0.5 mile stretch of white sand beach sits just o the historic Pacific Coast Highway 4) Will Rogers State Historic Park The park features lush polo grounds, a variety of hiking trails and serves as a working ranch 5) 3rd Street Promenade Massive outdoor mall oering a wide selection of trendsetting retail shops and crowd favorite dining options 17346 Sunset Boulevard Currently under development, the nearly 15,000 SF The Park at Cross Creek 17346 Sunset Boulevard property will feature 40 studio, one- and two-bedroom units atop 2,900 SF of ground-floor retail and 49 parking spaces. Construction is expected to occur over the next 16 months. 17325 Castellammare Drive With construction recently completed, the five-story concrete structure will contain 29 residential units above two levels of parking. The newest development in Malibu’s downtown hub, The 17325 Park will feature 14,000 SF of retail and dining, a Whole Castellamare Dr. Foods market and extensive lush park grounds. A bespoke walkable village is home to over 40 uniquely curated boutiques, entertainment and fresh-food experiences. Ŝ The City of Santa Monica is moving forward with the development of a new master plan for the promenade. Three plans are being evaluated and a decision is expected by the end of 2020. Santa Monica Promenade Pacific Palisades Village 4 3 4 5 3 5 Subject3 Property 3 2 Subject5 Property 1 1346 N. Laurel 4 3 2 2 5 4 41 2 3 Subject Property 2 Hayworth Portfolio 1 4 4 3 2 2 1014 & 1018 Mooney Dr. Subject Property 3 5 1 1 1 1 Subject Property: 18103 Coastline Drive Address Notes 1) 17346 Sunset Boulevard Nearly 15,000 SF property will feature 40 studio, one- and two-bedroom units atop 2,900 SF of ground-floor retail 2) 17325 Castellammare Drive Five-story concrete structure will contain 29 residential units above two levels of parking 3) The Park at Cross Creek 14,000 SF of retail and dining, a Whole Foods market and extensive lush park grounds 4) Palisades Village Bespoke walkable village is home to over 40 curated boutiques, entertainment and fresh-food experiences 5) 3rd Street Promenade City of Santa Monica is moving forward with the development of a new master plan for the promenade Comarables Rental Comps 1) 18057 Coastline Drive 2) 18219 Coastline Drive Rent: $5,500 Rent: $5,995 Unit Type: 2 Bdrm. & 2 Bath Unit Type: 2 Bdrm. & 2t Bath 18103 Coastline Drive ė ĬŝĭśƁśė$3,548 - $4,900 ŜĭŚŞŞřřĘ 4) 17350 Sunset Boulevard Rent: $5,995 Rent: $6,000 Unit Type: 2 Bdrm. & 2 Bath Unit Type: 2 Bdrm. + 2 Bath Comarables Rental Comps 5 24 Breeze Ave. 2 4 4 4 9001 24 West Breeze Co llegAve.e St. 1 2 Subject3 Property2 4Subject Property 3 24 Breeze Ave. 4 1 3 Subject22 Property2 1014 & 1018 Mooney Dr. 5 3 3 4 2 1 33 1 2 3 53 4 1 1 421 4 1 4186-4190Subject Property S. Western Ave. 4 5 1) 630 NĘ 1rand3 1 Avenue 2) 1219 Boston Street Rent: $2,395 Rent: $2,850 2 Unit Type: 2 Bdrm. & 2 Bath Unit Type: 2 Bdrm.