4-Unit Multifamily Investment Opportunity in Silver Lake

833 N Vendome StreetLos Angeles, CA 90026

CONTENTS

Exclusively Listed By:

RICH JOHNSKW COMMERCIALMULTIFAMILY INVESTMENT ADVISOR818.432.1575 - OfficeMobile: 213.305.9026 RICHJOHNS@KW.COM

CALBRE LIC#01432215

030710

PROPERTY DESCRIPTION

FINANCIAL SUMMARY

MARKET OVERVIEW

833 N Vendome Street, Los Angeles, CA 90026

ARCHIE ROBBKW COMMERCIALMULTIFAMILY INVESTMENT ADVISOR818.432.1609 - OfficeMobile: 213.239.3392ARCHIEROBB@KW.COM

CALBRE LIC#002002291

OFFERINGTHE KW Commercial is pleased to present 833 North Vendome Street, a one-of-a-kind Spanish fourplex located in Silver Lake (90026). The property is being offered for sale for the first time in 35 years and provides investors or an owner-user a unique opportunity to acquire a super charming Silver Lake asset with meaningful rental upside in one of the most dynamic Los Angeles neighborhoods.

833 North Vendome consists of Four (4) 1 Bedroom / 1 Bathroom apartment homes with Three (3) separate structures consisting of stand-alone bungalows built in 1924 and a duplex built in 1933. Each unit averages +/- 675 SF each and includes laundry service areas, garage parking and private yards/patios.

Located just .2 miles from Sunset Blvd., the property is situated on a +/- 5,432 square foot parcel, zoned RD 1.5. Gas and electrical utilities are separately metered. Parking is provided for 4 vehicles in Four (4) garages.

Within the interior of units, you’ll find original hardwood flooring, Batchelder-type fireplaces (2 units), original moldings and treatments along with all the character found in a vintage LA apartment.

Centrally located in Silver Lake, the property is poised to further capitalize on the tremendous energy in the Hollywood-Silver Lake submarket. Furthermore, the property’s transit-friendly and highly walkable location (.2 miles from Sunset Blvd.) offers residents access to a myriad of entertainment venues, cultural destinations, and dining options nearby. Given the property’s location and strong income potential, 833 North Vendome is an ideal investment for apartment operators seeking immediate returns along with long term wealth preservation and appreciation.

THE OPPORTUNITY: 833 North Vendome Street, Spanish-style fourplex located in Silver Lake (90026) is being offered for sale for the first time in 35 years and provides investors or an owner-user a unique opportunity to acquire a super charming Silver Lake asset with meaningful rental upside in one of the most dynamic Los Angeles neighborhoods.

VALUE ADD COMPONENT: While the asset is performing respectably there is a value-add component leaving the astute investor significant rental upside.

OUTSTANDING LOCATION: 833 North Vendome Street is located just .2 miles from Sunset Blvd. and just +/-3/4 of a mile from Sunset Junction which offers many dining and entertainment venues including Intelligentsia Coffee, Mohawk General Store, Cafe Stella and Forage. A short distance west and you’re right by Squirl, Twig & Twine or Cafecito Organico. There are endless dining and shopping options within minutes and a short drive puts you in DTLA, Los Feliz or Hollywood central.

GREAT WALKABILITY: With a Walk Score of 87, 833 North Vendome Street is considered Very Walkable and “Most errands can be accomplished on foot.”

EXCEPTIONAL FINANCING / LOAN OPTIONS: Historically low interest rates and traditional financing options abound.

TRANSIT ORIENTED: 833 N Vendome St is located near bus lines and a short distance from the Vermont/Beverly Redline Station for an easy commute to Hollywood or Downtown Los Angeles.

STRONG EMPLOYMENT: The Hollywood-Silver Lake submarket is one of the strongest employment centers in the Los Angeles MSA and offers access to an enormous and diverse set of employers.

LACK OF HOUSING AFFORDABILITY: There is a significant affordability gap to home ownership within the 90026 zip code with the median SFR selling for more than $1,250,000 according to Redfin. A typical monthly mortgage payment can be more than 3 times the average rents at 833 N Vendome Street. Redfin also notes that the average sale-to-list price for SFR’s in the area is 106% and additionally, Zillow predicts values to increase another 8.6% within the next 12 months.

NO SEISMIC RETROFIT REQUIRED: 833 N Vendome Street is NOT on the list of buildings that require a soft-story seismic retrofit.

LOCATED NEAR NEW COMMERCIAL DEVELOPMENTS: More than 2.3 million SF of commercial space is currently under development in the Hollywood-Silver Lake submarket representing more than $1.58B in project costs, it is estimated that nearly 6,500 new jobs will be created in Hollywood alone.

INVESTMENT

HIGHLIGHTS

Exterior

Interior

EXECUTIVESUMMARY

FINANCIAL SUMMARY 833 N Vendome Street, Los Angeles, CA 90026

BUILDING DATAUnits 4

Year Built 1924/1933Lot Sq Ft 5,432Bldg Gross Sq Ft 2,692

Parking Spaces 4

ESTIMATED ANNUALIZED EXPENSESNew Property Taxes $18,239

Utilities $2,400

Property Insurance $1,750

Rental Registration / SCEP fees $336

Pest Control $300

Landscaping $1,080

Repairs & Maintenance $2,200

Total Estimated Expenses -$26,305

SOURCE OF INCOME CURRENTMARKET

(Post Renovation)# of Units Unit Type Total Total

833 1 Bed / 1 Bath $1,854.00 $2,500

835 1 Bed / 1 Bath plus Office $2,650.00 $2,650

835 1/2 1 Bed / 1 Bath $1,170.08 $2,500

837 1 Bed / 1 Bath $1,711.14 $2,500

Total Monthly Income $7,385.22 $10,150

Total Annual Income $88,623 $121,800

EST. ANNUALIZED OPERATING DATA CURRENT MARKETScheduled Gross Income $88,623 $121,800

Less Vacancy 2.0% ($1,772) 2.0% ($2,436)

Gross Operating Income $86,850 $119,364

Less Expenses 30.3% ($26,305) 22% ($26,305)

Net Income $60,545 $93,059

NOTATIONS:Repairs & Maintenance: Repairs and Maintenance underwritten as a pro forma expense of $550 / unit / year based on market rates.

Contract Service: Expenses are projected for Landscaping ($90/mo) and Pest Control ($75/mo) based on market rates.

Utilities: Estimated at $600 / unit / year based on market rates. Separately metered for Gas & Electrical utilities.

Real Estate Taxes: Underwritten and estimated at a tax rate of 1.22%

Property Insurance: Estimated based upon $0.65 / SF / year based on market rates.

FINANCIAL INDICATORSPrice $1,495,000

Current CAP 4.0%

Market CAP 6.2%

Current GRM 16.9

Market GRM 12.3

Cost Per Unit $373,750

Expenses Per Unit $6,576

Expenses Per Sq Ft $9.77

RENT ROLL

UNIT STATUS Current Unit-Type / Mix Outdoor Spaces Private Laundry Current Rent Market Rent Post Renovation

1 Occupied 1 Bed / 1 Bath Large Private Patio Laundry Hook-Ups $1,854.00 $2,500

2 Vacant 1 Bed / 1 Bath plus Office Large Private Outdoor Space Laundry Hook-Ups $2,650.00 $2,650

3 Occupied 1 Bed / 1 Bath Large Private Outdoor Space Laundry Hook-Ups $1,170.08 $2,500

4 Occupied 1 Bed / 1 Bath Large Private Patio Laundry Hook-Ups $1,711.14 $2,500

$7,385.22 $10,150

833 N Vendome Street, Los Angeles, CA 90026

Assessor’s Parcel Number Buildings

Year Built Land Use

Zoning Stories

SITE DESCRIPTIONUnits

Gross Square Footage Lot Size Square Footage

Parking

UTILITIESWaterSewer

ElectricGas:

Property Details

833 N Vendome Street • Los Angeles, • CA 90026

5426-013-018Three1924/1933ApartmentsRD1.5-1DOne

42,,6925,4324

LA DWPLA DWPSeparately MeteredSeparately Metered

LOCATIONOVERVIEW

833 N VENDOME STREET

SILVER LAKE, CA 90026

Somewhere between the seediness of the strip and the sparkle of

West Hollywood you’ll find a thriving metropolis of creative, chilled-

out cool. If you want to see a little soul in the City of Angels, step

away from the vegan juice bars of Sunset Boulevard, ride east in an

Uber and stop when you see the Sunset Junction sign.

The Junction culminates into the semi-gentried Silverlake neigh-

borhood around Sunset Junction, about six kilometers from Down-

town LA. It’s here you’ll find chic gourmet institution L&E Oyster

Bar, where you’ll munch on fried oyster po’boys with shaved fen-

nel, lettuce and gribiche and rub shoulders with another hundred

people dressed in skinny jeans and cardigans. If you take a stroll

down Silverlake Boulevard you’ll find some of the best bohemian

homewares.

Following this uprising of trendy and eclectic residents is a diverse

base of restaurants, bars, nighclubs, and retail shops that bring a

wide range of cultural experiences to the area. Within the existing

location, residents have the opportunity to walk to nearby restau-

rants and cafes, take the metro into the heart of Hollywood, or

spend the afternoon in an adjacent neighborhood via short com-

mute.

SILVER LAKE

LOCATION FUNDAMENTALSMillennials have ditched the suburbs for a more active and dynamic urban lifestyle. Many don’t own or want to own cars, so they rely on walking, biking, Metro or Uber. There is a limited supply of housing in Los Angeles, and especially in Silver Lake which is causing upward pressure on rents. Research firm Axiometrics projects rental rates are to increase by 25% over the next five years.

URBAN LIVING WITH WALKABILITYAs the most densely populated area in Los Angeles, Silver Lake is a highly walkable submarket. Residents can travel on foot to complete their daily errands and stroll to the many restaurants, clubs, chic hotels and pop up shops. Score 89 out of 100, The property is located in what walkscore.com considers “Very Walkable”.

THE BEST OFSILVER LAKE

The subject property is located blocks away from the core of three of the most enticing neighborhoods in Los Angeles County- Hollywood, Silver Lake, and Echo Park. Due to its eclectic location and walkability, res-idents enjoy unparalleled access to a wide variety of employment, entertainment, and cultural experienc-es that few other neighborhoods in Los Angeles can match.

As part of its recent restoration, Hollywood continues to set the bar in terms of being a major employment center and highly sought after location for a young-er more hip clientele that is looking for a true urban experience. Moreover, with the merging of old Holly-wood and today’s tech savvy startups, the area is ripe for continued success in enticing a younger renter demographic.

Following this uprising of trendy and eclectic resi-dents is a diverse base of restaurants, bars, nightclubs, and retail shops that bring a wide range of cultural experiences to the area. Within the existing location, residents have the opportunity to walk to nearby restaurants and cafes, take the metro into the heart of Hollywood, or spend the afternoon in an adjacent neighborhood via short commute.

Silver LakeSUNSET JUNCTION....

SQIRL CAFE 50’S

MATCHABAR

A WALKABLETR A NSIT - OR I E NTE D COM M U N IT Y

WALK SCORE“VERY WALKABLE”

87 58 WALK SCORE“GOOD TRANSIT”

Most errands can be accomplished on foot

Many nearby public transportation options.

WALK SCORE“SOMEWHAT BIKEABLE”

47Steep hills, minimal bike lanes.

Hot Hot Food

D-La Tostada

Golden Hen

Melody

California Grill Restaurant

Yoshinoya

Garam Restaurant

Restaurants and Bars

California Bowl

India’s Curry Place

India’s Clay Pit

Don Feliz Restaurant

Big Mama’s & Papa’s Pizzeria

Romans Pizza

Cafe 50’s

Groceries and MarketsRemy Market

Sqirl

Virgil Market

Osi Market

Lark Cake Shop

Sea Food Market

Sunset Food Market

Diablo

Silverlake Ramen

Cafe Tropical

Pine and Crane

Doc MartensParachute Home

TatsunoyaBlue Star

Same Same Thai

MolluskAesop

Vive La TarteHeyDayKreation

Eszett

Warby Parker

Erewhon

Alfred Co�eeClare V

Retrosuperfuture

Tartine

Cafe StellaIntelligentsia

AlimentoMilk

Botanica

Lamill Co�ee

L&E Oyster Bar

The Satellite

Mohawk

Ma’am Sit

Undefeated

ForageEl Condor

SawyerKettle Black

SUN

SET BLVD

WOODJewel

Sqirl

Cafecito Organico

Night + Market Song

MARKETCOMPARABLES

RENT COMPARABLES MAP1)

2)

3)

4)

5)

6)

7)

837 1/2 Micheltorena St

724 N Occidental Blvd

1835 W Silver Lake Dr

877 North Hyperion Avenue

4121 Santa Monica Blvd

1731 Silver Lake Blvd

1002 Laguna Ave

833 N Vendome Street

837 1/2 Micheltorena St

724 N Occidental Blvd

1835 W Silver Lake Dr

877 North Hyperion Avenue

4121 Santa Monica Blvd

1731 Silver Lake Blvd

1002 Laguna Ave

833 N Vendome Street

1 BEDROOM

Property UnitsYear Built Owner/Manager

833 N Vendome StreetLos Angeles, CA 90026

4 1924/1933 Private Owner/ Owner Managed

-

1) 837 1/2 Micheltorena St Los Angeles, CA 90026

3 1940 Private Owner/ Owner Managed

$2,650

2) 724 N Occidental BlvdLos Angeles, CA 90026

4 - Private Owner/ Owner Managed

$2,795

3) 1835 W Silver Lake DrLos Angeles, CA 90026

2 1942 Private Owner/ Owner Managed

$2,500

4) 877 North Hyperion AvenueLos Angeles 90029

4 1924 Private Owner/ Owner Managed

$2,800

5) 4121 Santa Monica BlvdLos Angeles, CA 90029

41 2020 CIM $2,800

6) 1731 Silver Lake BlvdLos Angeles, CA 90026

8 1958 Private Owner/ Owner Managed

$2,950

7) 1002 Laguna AveLos Angeles, CA 90026

3 1926 Private Owner/ Owner Managed

$3,200

AVERAGE: $2,535

HIGH: $2,795

LOW: $2,195

RENT COMPARABLES

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of signifi-cance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE

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 in-vestigations 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. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transactionAll data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or perfor-mance. 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 increased to that level. Parties must evaluate any applicable contractual and governmental limitations 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 should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of 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 governmental agencies. All properties and services are marketed by Studio City in compliance with all applicable fair housing and equal opportunity laws. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

CONFIDENTIALITY AGREEMENT

Exclusively Listed By:RICH JOHNSKW COMMERCIALMULTIFAMILY INVESTMENT ADVISOR818.432.1575 - OfficeMobile: 213.305.9026 RICHJOHNS@KW.COM

CALBRE LIC#01432215

ARCHIE ROBBKW COMMERCIALMULTIFAMILY INVESTMENT ADVISOR818.432.1609 - OfficeMobile: 213.239.3392ARCHIEROBB@KW.COM

CALBRE LIC#002002291