5836 WOODMAN AVE | OFFERING MEMORANDUM
The 2-4 Unit Specialists are pleased to present 5836 Woodman Ave, a 2020
construction fourplex located 1 minute from Sherman Oaks! New construction
fourplexes are extremely rare and hard to find in the Sherman Oaks area,
making this property a deal to act on immediately! 5836 Woodman is made up
of four modern, 3-story, side-by-side townhome style units. The property consists
of a 4 bedroom, 4 bathroom unit ($3,900), a 4 bedroom, 3.5 bathroom unit
($3,800), and two 3 bedroom, 3 bathroom units ($3,500 each). Construction on
this impressive project is expected to be completed in February or March of
2020.
This low maintenance property boasts a wide array of perks for investors
including: a prime location minutes from Ventura Blvd (the trendy hub of
Sherman Oaks), no rent control, an exceptional projected cap rate of 4.97%,
separate meters for gas, water & electric, a 1 year builder’s warranty, brand
new EVERYTHING, minimal expenses, and extreme desirability amongst renters.
The units will feature: laundry hookups in each unit, stainless steel appliances,
high quality finishes, custom unique tilework, upscale modern kitchens, and
stunning bathrooms! Each rear townhome has a private 2-car garage with
direct access into the units. One front unit has a private 1-car garage and an
exterior space, and the other front unit comes with two exterior spaces, making
for a grand total of 8 spots!
OFFERING SUMMARY
5836 WOODMAN AVE | OFFERING MEMORANDUM
PROPERTY OVERVIEW
THE PROPERTY: Address: 5636 Woodman Ave, Sherman Oaks Adj./Valley Glen, CA 91401
APN: 2343-007-005
# Units: 4
# Buildings: 2
Year Built: Estimated Completion of February/March 2020
Building Size (SF): 6,054
Lot Size (SF): 5,500
Rent Control: NO Rental Control!
Zoning: LARD1.5
THE OFFERING: List Price: $2,700,000
Cap Rate: 4.97%
GRM: 15.31
Price Per Unit: $675,000
Price Per SF: $445.99
UTILITIES: Water: Separately Metered for Units (Tenant Pays)+ 1 House Meter for Common Area (Landlord Pays)
Electric: Separately Metered for Units (Tenant Pays)+ 1 House Meter for Common Area (Landlord Pays)
Gas: Separately Metered (Tenant Pays)
AMENITIES: Stories: 3
Appliances: Sleek Stainless Steel
Parking: 5 Garage Spaces and 3 Exterior Spaces
Air/Heat: Central
Balconies: Huge Balconies!
Landscaping: Drought Tolerant
5836 WOODMAN AVE | OFFERING MEMORANDUM
• NO RENT CONTROL!
• All units are three story, side-by-side townhome style with sleek,
modern design.
• Exceptional location on the Sherman Oaks/Valley Glen border. New
construction fourplexes in this area are rare and hard to come by!
• All units are separately metered for gas, electric and WATER! The
expenses on this property are minimal.
• 5 minutes from the Westfield Sherman Oaks Fashion Square and 7
minutes from Ventura Blvd, the heart of Sherman Oaks!
• Due to the high quality of construction, the property is very low
maintenance.
• Ideal parking set up! 8 parking spaces, made up of 5 garage
spaces and 3 exterior spaces.
• Tasteful drought tolerant landscaping to minimize expenses.
• Comes with 1 year fit-and-finish warranty!
INVESTMENT HIGHLIGHTS
LOCATION HIGHLIGHTS
5836 WOODMAN AVE | OFFERING MEMORANDUM
• This fourplex is located in the peaceful Valley Glen neighborhood, exactly 1 minute from the Sherman Oaks border!
• 5 minutes from the Westfield Sherman Oaks Fashion Square and Trader Joe’s!
• A short 7 minute drive to Ventura Blvd, the action-packed heart of Sherman Oaks! Tenants (or owner occupiers) will be
able to enjoy immediate access to some of the best shops and restaurants in the Valley! Nearby hotspots include: Sweet
Butter Kitchen, The Local Peasant, Casa Vega, The One Up, Boneyard Bistro, and so much more.
• 4-5 minutes from countless nearby schools, including Notre Dame High School, Millikan Middle School, LA Valley College,
and Grant High School. This close proximity to schools will be invaluable when it comes to leasing up the units quickly and
for substantial rents.
• Walking distance to numerous stores, restaurants, and local conveniences on both Burbank Blvd and Oxnard St.
LOCATION HIGHLIGHTS
5836 WOODMAN AVE | OFFERING MEMORANDUM
Nearby Attractions
LOCATION HIGHLIGHTS MAP LOCATION HIGHLIGHTS MAP
5836 WOODMAN AVE | OFFERING MEMORANDUM
FINANCIAL SUMMARY & RENT ROLL
SUMMARIZED PRICING METRICS: BUILDING DESCRIPTION: FINANCING:
Price: $2,700,000 No. of Units 4 Loan Amount $1,890,000
Down: 30% $810,000 Yr. Built 2020 Interest Rate 3.93%
Current GRM: 15.31 Lot Size (acres) 0.13 Monthly Payment ($8,947.04)
Pro Forma GRM: 15.31 Lot Size (sq. ft) 5,500 LTV 70%
Current Cap Rate: 4.97% Bldg SF 6,054 Amortization (Years) 30
Pro Forma Cap Rate: 4.97% Zoning LARD1.5 Proposed/Assumption Proposed
$/Unit: $675,000 Minimum DSCR 1.25
$/ SF: $445.99
RENT ROLL:
UNIT # STATUS UNIT TYPE UNIT SIZE
CURRENT
RENT
SCHEDULED GROSS
INCOME
CURRENT
RENT PER SF
PRO FORMA
RENT
PRO FORMA
RENT PER SF
LOSS-TO-
LEASE
1 Vacant 4b/4b 1,565 $0 $3,900 $2.49 $3,900 $2.49 $0
2 Vacant 4b/3.5b 1,565 $0 $3,800 $2.43 $3,800 $2.43 $0
3 Vacant 3b/3b 1,462 $0 $3,500 $2.39 $3,500 $2.39 $0
4 Vacant 3b/3b 1,462 $0 $3,500 $2.39 $3,500 $2.39 $0
4 6,054 $0 $14,700 $2.43 $14,700 $2.43 $0Totals/Averages:
5836 WOODMAN AVE | OFFERING MEMORANDUM
FINANCIAL ANALYSIS
# UNITS UNIT MIX % OF TOTAL SIZEAVG
RENT
AVERAGE
RENT/SF
MONTHLY
INCOME
AVG PRO
FORMA
RENT
AVERAGE PRO
FORMA
RENT/SF
PRO FORMA
MONTHLY
INCOME
2 3b/3b 50% 1,565 $3,500 $2.24 $7,000 $3,500 $2.24 $7,000
1 4b/4b 25% 1,565 $3,900 $2.49 $3,900 $3,900 $2.49 $3,900
1 4b/3.5b 25% 1,462 $3,800 $2.60 $3,800 $3,800 $2.60 $3,800
4 Totals/Averages: 1,514 $3,675 $2.43 $14,700 $3,675 $2.43 $14,700
Gross Scheduled/Gross Potential Income: $176,400 $176,400
ANNUALIZED OPERATING DATA: ANNUALIZED EXPENSES:
CURRENT PRO FORMA CURRENT PRO FORMA
Gross Potential Rental Income $176,400 $176,400 Fixed Expenses
Gain (Loss)-to-Lease $0 $0 Real Estate Taxes 1.1740% $31,698 $31,698
Gross Scheduled Rental Income $176,400 $176,400 Insurance .40/s.f. $2,422 $2,422
Less: Vacancy 3.0% ($5,292) 3.0% ($5,292) Utilities $150/unit $600 $600
Effective Gross Income $171,108 $171,108
Less: Expenses ($36,920) ($36,920) Controllable Expenses
Miscellaneous Other Income $0 $0 Contract Services $150/unit $600 $600
Net Operating Income $134,188 $134,188 Repairs & Maintenance $400/unit $1,600 $1,600
Debt Service ($107,365) ($107,365)
Pre-Tax Cash Flow 3.31% $26,824 3.31% $26,824 TOTAL EXPENSES $36,920 $36,920
Principal Reduction $33,690 $33,690 EXPENSES/UNIT $9,230 $9,230
Total Return 7.47% $60,514 7.47% $60,514 EXPENSES/SF $6.10 $6.10
% of EGI 21.6% 21.6%
5836 WOODMAN AVE | OFFERING MEMORANDUM
SALES COMPARABLES MAP
14528 Killion, Sherman Oaks
4240 Mammoth, Sherman Oaks
14427 Tiara, Sherman Oaks
4924 Laurel Canyon, Studio City
Subject Property: 5636 Woodman
5836 WOODMAN AVE | OFFERING MEMORANDUM
SALES COMPARABLES CHART
# ADDRESS UNITS SALES
PRICE
$/
SF
$/
UNIT
CAP
RATE GRM
BLDG
SF
LOT
SF
CLOSE
DATE
YEAR
BUILT
1 14528 Killion,
Sherman Oaks 3 $2,260,000 $434.62 $753,333 4.80% 15.44 5,200 6,756 4/4/2019 2019
2 4240 Mammoth,
Sherman Oaks 3 $1,900,000 $603.37 $633,333 3.65% 21.13 3,149 6,282 3/1/18 1938/2013
3 14427 Tiara,
Sherman Oaks 4 $2,400,000 $480.00 $600,000 5.39% 14.29 5,000 6,907 10/22/19 2019
4 4924 Laurel Canyon,
Studio City 4 $2,600,000 $562.53 $650,000 5.45% 13.54 4,622 5,000 2/22/19 2018
AVERAGE: 3.5 $2,290,000 $509.71 $654,286 4.82% 16.10 4,493 6,236
5636 Woodman: 4 $2,700,000 $445.99 $675,000 4.97% 15.31 6,054 5,500 2020
5836 WOODMAN AVE | OFFERING MEMORANDUM
SALES COMPARABLES PHOTOS
5836 WOODMAN AVE | OFFERING MEMORANDUM
RENTAL COMPARABLES
5865 Levi, Sherman Oaks
Unit Type Rented For Unit Size (SF) Avg. Rent/SF
4b/3b $3,850 1,574 $2.45
Subject Property: 5836 Woodman, Sherman Oaks Adj./Valley Glen
Unit Type Market Rent Unit Size (SF) Avg. Rent/SF
4b/3.5b & 4b/4b $3,800-$3,900 1,465 $2.43-$2.49
3b/3b $3,500 1,462 $2.39
5836 WOODMAN AVE | OFFERING MEMORANDUM
RENTAL COMPARABLES
5861 Sylmar, Sherman Oaks
Unit Type Rented For Unit Size (SF) Avg. Rent/SF
4b/3b $4,500 1,873 $2.40
5857 Sylmar, Sherman Oaks
Unit Type Rented For Unit Size (SF) Avg. Rent/SF
4b/2.5b $4,300 1,873 $2.30
5836 WOODMAN AVE | OFFERING MEMORANDUM
RENTAL COMPARABLES
6238 Fulton, Valley Glen
Unit Type Asking For Unit Size (SF) Avg. Rent/SF
3b/2b $3,300 1,159 $2.85
14427-14229 Tiara, Sherman Oaks
Unit Type Asking For Unit Size (SF) Avg. Rent/SF
3b/3b $3,450-$3,650 1,350-1,550 $2.35-$2.56
5836 WOODMAN AVE | OFFERING MEMORANDUM
PROPERTY RENDERINGS
5836 WOODMAN AVE | OFFERING MEMORANDUM
PROPERTY PHOTOS
5836 WOODMAN AVE | OFFERING MEMORANDUM
PROPERTY PHOTOS
5836 WOODMAN AVE | OFFERING MEMORANDUM
PROPERTY PHOTOS