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Offering Memorandum 1411 W COURT ST LOS ANGELES, CA 90026 Exclusively offered by:
Offering Memorandum1 4 1 1 W C O U R T S TL O S A N G E L E S , C A 9 0 0 2 6
Exclusively offered by:
Exclusive Listing Agent
Ken ShapiroOffice: (213)250-4404
Cell: (818) 237-6963
CalBRE#01881308
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Offering Highlights1411 W Court St. Los Angeles, CA 90026
List Price Cap Rate$1,149,000Price $1,149,000
Cap rate 5.10
Price/Unit $287,250
Price/SF $536.16
Gross Square Feet 2,143
Year Built 1936
5.10
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Financial Details1411 W Court St. Los Angeles, CA 90026
Account Name Jan 2018 Feb 2018 Mar 2018 Apr 2018 May 2018 Jun 2018 Jul 2018 Aug 2018 Sep 2018 Oct 2018 Nov 2018 Dec 2018 TotalOperating Income & Expense Income
Rent collected 4,918.39 3,049.18 4,376.32 4,341.96 4,366.01 4,337.75 2,762.75 4,401.07 3,686.30 4,379.63 4,204.63 4,554.63 49,378.62Other Income 49.40 182.22 10.83 28.61 18.05 28.61 3.61 45.51 160.55 35.83 82.22 64.44 709.88
Total Operating Income 4,967.79 3,231.40 4,387.15 4,370.57 4,384.06 4,366.36 2,766.36 4,446.58 3,846.85 4,415.46 4,286.85 4,619.07 50,088.50 Expense Insurance-Building 1,175.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,175.15 Property Management Fees 344.29 209.94 308.89 304.89 305.39 305.62 193.39 306.83 256.70 311.02 301.39 322.32 3,470.67 Property Tax 0.00 0.00 0.00 3,418.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,491.43 6,909.88 Exterminator 80.00 0.00 80.00 80.00 40.00 40.00 40.00 40.00 0.00 80.00 40.00 40.00 560.00 Cleaning / Gardening 20.00 20.00 45.00 0.00 20.00 20.00 20.00 20.00 20.00 40.00 0.00 35.00 260.00 M&R Plumbing 232.50 372.00 744.00 0.00 35.00 0.00 0.00 0.00 0.00 60.00 33.13 8.21 1,484.84 M&R Vacancy 0.00 31.06 113.00 0.00 35.00 0.00 0.00 68.74 1,109.33 0.00 0.00 0.00 1,357.13 M&R Other 21.66 86.97 639.91 355.78 37.50 65.00 0.00 68.74 176.24 357.14 148.55 176.73 2,134.22 Taxes / Other Fees 339.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 339.15 Electric/Cable 22.00 0.00 68.39 0.00 0.00 0.00 22.00 0.00 22.00 0.00 0.00 0.00 134.39 Sewer 149.96 0.00 89.79 0.00 200.64 0.00 128.00 0.00 110.77 0.00 140.37 0.00 819.53 Water 127.41 0.00 125.98 0.00 236.17 0.00 113.39 0.00 83.22 0.00 143.73 0.00 829.90 Total Operating Expense 2,512.12 719.97 2,214.96 4,159.12 909.70 430.62 516.78 504.31 1,778.26 848.16 807.17 4,073.69 19,474.86
NOI - Net Operating Income 2,455.67 2,511.43 2,172.19 211.45 3,474.36 3,935.74 2,249.58 3,942.27 2,068.59 3,567.30 3,479.68 545.38 30,613.64
Properties: 1411 Court St-F1 - 1411 Court Street Los Angeles, CA 90026Period Range: Jan 2018 to Dec 2018
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Unit Tags BD/BA Tenant Sq. Ft. Market Rent Rent Deposit Lease From Lease To
1411 (Joined to 3/4) 1/1.00 VACANT 0.00 0.001411 3/4 (Joined) 1/1.00 VACANT 0.00 0.001411 1/2 Court Street 1/1.00 Brittany G. Alexis 1,600.00 1,600.00 1,600.00 09/14/2018 09/13/20191411 1/4 Court Street 1/1.00 Henry Alvarado 530.45 579.63 437.09 04/01/2001 03/31/20021413 Court Street 2/1.00 Maria V. Martinez 2,200.00 2,200.00 3,300.00 03/07/2016 03/06/20174 Units 4,948.45 4,379.63 5,337.09
Total 4 Units 4,948.45 4,379.63 5,337.09
As of: 02/25/2019
1411 Court St. - 1411 Court Street Los Angeles, CA 90026
Rent RollExported On: 02/25/2019 04:46 PM
Properties: 1411 Court St. - 1411 Court Street Los Angeles, CA 90026Units: Active
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List of Improvements & Cost 1411 Court Common(2 Units) /Shared Total
All new dual‐pane windows, interior & exterior doors 8,406$ ‐$ 8,406$ New bathrooms (all new cabinets, vanities, tile, toilets, showers, etc.) ‐‐ Two
16,565$ ‐$ 16,565$
Kithen remodel (new sinks, cabinets, countertops, backsplash) ‐‐ Two 21,278$ ‐$ 21,278$ Upgraded Plumbing 6,965$ ‐$ 6,965$ New Appliances (SS Fridges, stoves, w/d, Heater, AC) 7,634$ ‐$ 7,634$ New Laminate Flooring 6,595$ ‐$ 6,595$ Electrical Upgrades 18,251$ ‐$ 18,251$ Other improvements (open floor plan to kitchen, replaced rotten wood) 10,657$ ‐$ 10,657$ New decks and outdoor spaces 24,084$ ‐$ 24,084$ Interior Painting & Touchups 8,704$ ‐$ 8,704$ Trash & Hauling 8,484$ ‐$ 8,484$ New walkway and concrete pour ‐$ 17,736$ 17,736$ Landscaping of property, artificial turf, etc. ‐$ 12,534$ 12,534$ Exterior painting ‐$ 7,016$ 7,016$ Repairs/Improvements to other units ‐$ 7,450$ 7,450$ New fencing ‐$ 11,151$ 11,151$ Miscellaneous ‐$ 10,454$ 10,454$ Totals 137,623$ 66,341$ 203,964$
Previous Rent 3,161$ 3,161$ Current Rent 5,483$ 5,483$ Increased Rent (Monthly) 2,322$ 2,322$
Annual 27,863$
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INVESTMENT HIGHLIGHTS
Deal Highlights:• Development opportunity to build 24
units • All four units are detached• Renovated vacant unit • Lots of outdoor space for each unit • Three out of four units are at or near
market rent • Two out of four are already renovated
Location Highlights:• Walking distance to iconic Echo Park
Lake • Property is centrally located and just
minutes from Downtown Los Angeles • Only a mile from the trendy shops and
restaurants of Sunset and Echo Park Blvd
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PRESENTED BY:
Ken ShapiroCalBRE 01881308(213)250-4404
Archie RobbLeasing SpecialistCalBRE 02002291(213)239-3392
Kate CourtneyOffice Manager(213)250-4404
KimmarieChamberlainAssociate (213)250-4404
Miranda RobbAssociate (213)250-4404
