NEW CONSTRUCTION FOUR UNIT - COFO ISSUED APRIL, 2019 … · 138 n carondelet3 bed/2 bath2017 $3,200...

$2,095,000

NEW CONSTRUCTION FOUR UNIT - COFO ISSUED APRIL, 2019

Streetlamp Partners, LLC. is a managing partner in this development. All marketing information provided by Citivest Realty Services, BRE #01020312.

- 5.42% CAP RATE - 13.6 GRM - NO RENT CONTROL

STREETLAMPPARTNERS.COM

125 N MOUNTAIN VIEW AVE, LOS ANGELES, CA 90026

SETH HAMILTON [email protected]# 01897619

THE OFFERING Streetlamp Partners are pleased to present another new construction four-unit property.

125 N Mountain View is in the Echo Park Neighborhood, which is adjacent to Silverlake, Koreatown, and Westlake and only a few minutes’ drive from Downtown. This area just south of the 101 Fwy has seen a dramatic change in the last two years, with the addition of many new coffee shops, restaurants, bars and new construction housing.

As is with all of our properties, 125 N Mountain View is a warrantied and Green Certified building offering the investor a trouble-free and low-mainte-nance investment. The tenants will enjoy private and spacious living in town-home style units with only one common wall, private laundry rooms in each unit, and motorized security gated parking. All units are separately metered for electricity, water, and gas. The common areas utilize a landlord’s fifth water and power meter servicing water-efficient landscape and LED exterior lighting.

Certificate of occupancy has been issued as of April, 2019. Please feel free to reach out to us with any questions regarding this opportunity.


OFFERING MEMORANDUM - 125 N MOUNTAIN VIEW AVE

TABLE OF CONTENTS

T H E O F F E R I N G01

09

THE NEIGHBORHOOD16 Area Map17 Neighborhood 18 Attractions19 Contact

14

4 Property Overview5 Property Details

6 Rent Roll

S I T E P L A N S10 Floor Plans



APN: 5157-021-047

# of Units: 4

Year Built: 2018

Gross Living Area (GLA): 4,670

Gross Building Area (GBA): 5,298

Lot Size (SF): 4,605

Zoning: R4-1

List Price: $2,095,000

Annual Gross Rent Income: $154,200

Net Operating Income: $113,580

GRM: 13.6

Cap Rate: 5.42%

Price per SF (GBA): $395

Price per SF (GLA): $448

Price per Unit: $523,750

Covered Parking: 4

Uncovered Parking: 4

Laundry: Private Each Unit

Tenant Meters (water/gas/electric) 4

Owner/Common Meters: 1

(water/electric)

Floors: 3

STREETLAMPPARTNERS.COM4

OFFERING MEMORANDUM - 125 N MOUNTAIN VIEW AVEPROPERTY OVERVIEW

SUMMARIZED PRICING METRICS BUILDING DESCRIPTION PROPOSED FINANCING PRICE: $2,095,000 NO. OF UNITS: 4 LOAN AMOUNT: $1,259,400DOWN (40%): $838,000 YR. BUILT: 2019 INTEREST RATE 4.50%PRO FORMA GRM: 13.6 GROSS LIVING AREA: 4,670 MONTHLY PAYMENT $6,381PRO FORMA CAP RATE: 5.42% GROSS BUILDING AREA: 5,298 LTV 60%$/UNIT: $523,750 ZONING: R4-1 AMORTIZATION (YEARS) 30$/SF (GBA): $395.43 LOT SIZE (SQ FT): 4,605 DSCR 1.48 $/SF (GLA): $448.61

ANNUALIZED OPERATING DATA PRO FORMA GROSS ACTUAL RENTAL INCOME $154,200 GAIN (LOSS)-TO-LEASE $0GROSS SCHEDULED RENTAL INCOME $154,200 LESS: VACANCY 3% -$4,626EFFECTIVE GROSS INCOME $149,574 LESS: EXPENSES $36,065.96 MISCELLANEOUS INCOME $0NET OPERATING INCOME $113,508.04 DEBT SERVICE -$76,428.41PRE-TAX CASH FLOW 4.5% $37,079.63 PRINCIPAL REDUCTION $19,863.41TOTAL RETURN 6.88% $56,943.04

ANNUALIZED EXPENSES PRO FORMAFIXED EXPENSES REAL ESTATE TAXES 1.19% $24,931 INSURANCE $0.35 SQ FT $1,635 UTILITIES $918 CONTROLLABLE EXPENSES MANAGEMENT 4.00% $5,983 REPAIRS & MAINTENANCE $400/UNIT $1,600 UNIT TURNOVER $250/UNIT $1,000 TOTAL EXPENSES $36,066 EXPENSES/UNIT $9,016 EXPENSES/SQ FT $17.86 % OF EGI 24.1%


PROPERTY DETAILS OFFERING MEMORANDUM - 125 N MOUNTIAN VIEW AVE

6 STREETLAMPPARTNERS.COM

OFFERING MEMORANDUM - 125 N MOUNTIAN VIEW AVE

UNIT # STATUS UNIT TYPE UNIT SIZE PARKING LAUNDRY125 LISTED FOR LEASE 3 BED /3 BATH 1,188 $2.78 $3,300 3 2 COVERED PRIVATE125 1/2 LISTED FOR LEASE 3 BED /2 BATH 1,114 $2.92 $3,250 3 2 UNCOVERED PRIVATE127 1/2 LISTED FOR LEASE 3 BED /2.5 BATH 1,059 $3.02 $3,200 3 2 UNCOVERED PRIVATE127 LISTED FOR LEASE 2 BED /2.5 BATH 1,309 $2.37 $3,100 3 2 COVERED PRIVATE 4 LISTED FOR LEASE 11 BEDS / 4,670 $2.77 $12,850 3 4 COVERED / 4 PRIVATE

PRICE / SQ FT

SCHEDULED GROSS INCOME

# FLOORS / UNIT

12 BATH 4 UNCOVERED ROOM

RENT ROLL

ADDRESS STATUS UNIT TYPE YR. BUILT UNIT SIZE RENT $/SF LEASE DATE333 BELMONT AVE ACTIVE 3 BED/2 BATH 2017 1,158 $4,600 $3.97 ACTIVE333 BELMONT AVE ACTIVE 2 BED/2 BATH 2017 1,120 $3,350 $2.99 ACTIVE3221 W TEMPLE ST ACTIVE 3 BED/2 BATH 2016 1,215 $3,899 $3.21 ACTIVE3221 W TEMPLE ST ACTIVE 2 BED/2 BATH 2016 1,133 $3,299 $2.91 ACTIVE136 S CORONADO LEASED 3 BED/2 BATH 1923 1,100 $3,100 $2.82 N/A4529 LEXINGTON AVE LEASED 2 BED/2 BATH 2017 826 $2,700 $3.27 3/15/184529 1/2 LEXINGTON AVE LEASED 3 BED/2 BATH 2017 1,182 $3,400 $2.88 3/15/182020 W TEMPLE ST LEASED 3 BED/2 BATH 2002 1,108 $3,000 $2.71 12/17/18138 N CARONDELET LEASED 3 BED/2 BATH 2017 1,251 $3,200 $2.56 8/10/18147 1/2 ROSELAKE AVE LEASED 3 BED/2 BATH 2019 1,256 $3,400 $2.71 2/1/19146 1/2 ROSEMONT AVE LEASED 3 BED/2 BATH 2019 1,133 $3,450 $3.05 2/1/1927014 BELLEVUE AVE LEASED 2 BED/1 BATH 1958 760 $2,995 $3.94 1/16/191701 CLINTON ST #207 LEASED 2 BED/1 BATH 1973 760 $3,200 $4.21 10/16/18 COMPARABLE AVERAGE: 2001 1,077 $3,353 $3.12 SUBJECT PROPERTY: VACANT 2018 1,168 $3,213 $2.75

RENT COMPS


OFFERING MEMORANDUM - 125 N MOUNTIAN VIEW AVE

UNIT BED/ ADDRESS STATUS COUNT BATH COUNT YR. BUILT SQ FT PRICE GRM $/SF SALE DATE CAP RATE 244 N PARK VIEW ST SOLD 4 12 BED / 12 BATH 2018 5,442 $2,600,000 N/A $477.77 10/23/18 4.85%2020 W TEMPLE ST SOLD 2 6 BED/ 4 BATH 2002 2,216 $1,050,000 N/A $473.83 6/19/18 1249 COLTON ST SOLD 2 6 BED/ 4 BATH 2007 2,696 $1,354,000 20.15 $502.23 6/19/18 3.72%6413 LEXINGTON AVE SOLD 4 11 BED / 14 BATH 2018 6,106 $3,050,000 15.50 $499.51 7/19/18 4.84%636 PARKMAN AVE SOLD 4 12 BED/14 BATH 2018 6,612 $3,400,000 15.81 $514.22 7/27/18 4.74% 648 N SERRANO AVE SOLD 4 12 BED / 12 BATH 2018 5,434 $2,565,000 N/A $472.03 10/23/186226 LEXINGTON AVE SOLD 4 11 BED / 13 BATH 2018 6,208 $2,995,000 N/A $482.44 4/9/19407 N ARDMORE AVE PENDING 6 12 BED / 12 BATH 2018 6,153 $3,290,000 17.80 $534.70 PENDING 4.19%2763 W 12TH ST PENDING 4 12 BED / 10 BATH 2018 5,280 $2,500,000 N/A $473.48 PENDING COMP AVERAGE: 2015 5,127 $2,533,778 17.32 $487 4.44% SUBJECT PROPERTY: VACANT 4 11 BEDS / 12 BATH 2019 4,670 $2,099,000 13.61 $449

COMP $/SQ FT $486.92 COMP GRM 17.32 COMP CAP RATE 4.54% SUBJECT SQ FT 4,670 SUBJECT GROSS POTENTIAL RENT $154,200 SUBJECT NOI $113,460 SUGGESTED VALUE $2,273,997 SUGGESTED VALUE $2,670,118 SUGGESTED VALUE $2,500,444

SALE COMPS

SUBJECT PROPERTY VALUATION



8





SITE PLAN


OFFERING MEMORANDUM - 125 N MOUNTAIN VIEW AVEPLANSf i r s t f l o o r p l a n


OFFERING MEMORANDUM - 125 N MOUNTAIN VIEW AVEPLANSs e c o n d f l o o r p l a n



PLANSt h i r d f l o o r p l a n

OPEN FLOOR PLANS

P R I VAT E L AY O U T S


OFFERING MEMORANDUM -125 N MOUNTIAN VIEW AVE

QUAL I TY F IN I SHES

L U X U R Y L I V I N G




OFFERING MEMORANDUM -125 N MOUNTAIN VIEW AVE

LOW MAINTENANCE

GREEN CERTIFIED

HOLLYWOOD AREA MAP


OFFERING MEMORANDUM -125 N MOUNTAIN VIEW AVE

NEIGHBORHOOD

Rikas Peruvian cuisine - 1.4 Miles

The Park’s Finest - 0.9 Miles Icy Rush- 0.7 Miles Kues Restaurant- 0.7

The Semi-Tropic 1.0 Miles El Prado - 0.9 Miles Bar Henry - 1.4 Miles



18

ATTRACTIONS



UNDER CONTRACT NEW CONSTRUCTION

Streetlamp Partners, LLC is a managing partner in this development. All marketing information provided by Citivest Realty Services, DRE #01020312.

SETH HAMILTON | 714.397.6077 [email protected] STREETLAMPPARTNERS.COM | DRE: 01897619

$3,425,000OFFERED AT :

4.97 % CAP RATE / 14.8 GRM CONSTRUCTION COMPLETE / NO RENT CONTROL

APN: 5534.013.022# of Units: 5Year Built: 2018Gross Living Area (GLA): 5,880Gross Building Area (GBA): 7,233Lot Size (SF): 6,752Zoning: R3-1List Price: $3,425,000 Annual Gross Rental Income $232,200Net Operating Income $170,261GRM: 14.8Cap Rate: 4.97%Price per SF: $497.6 Price per Unit: $719,800 Covered Parking: 8Uncovered Parking: 1Laundry: Private Each UnitTenant Meters (water/gas/electric) 6 Owner/Common Meters: 1(water/electric) Floors: 3

20

1242 N B E AC H WOO D D R , LO S A N G E L E S , C A 9 0 0 3 8

CONTACT INFO

The i n f o rma t i o n c o n t a i n e d he r e i n i s n o t a s ub -s t i t u t e f o r a t h o r o ugh i n de pe nde n t due d i l i g enc e i n v e s t i g a t i o n . Owne r /De ve l o pe r /Age n t a r e no t qua l i f i e d t o d i s c u s s o r a d v i s e on l e ga l , a c co un t i n g , o r o t h e r ma t t e r s ou t s i d e o f t h o se pe rm i t t e d b y s t a t e l a w. Owne r /De v e l ope r /Age n t h a ve no t made an y i n v e s -t i g a t i o n , a nd ma ke s no wa r r a n t y o r r e p r e sen t a -t i o n , w i t h r e spe c t t o t h e i n co me o r e xpenses f o r t h e s ub j e c t p r ope r t y, t h e f u t u r e p r o j e c t ed f i n an -c i a l p e r f o r manc e o f t h e p r o pe r t y.

714 .397 .6077SETH@STREETLAMPPARTNERS . com

PLEASE V I S I T:STREETLAMP PARTN ERS.CO MFOR MORE I N FO RMAT I O N O N OUR UPCOM ING PRO PERT I ES.

I n f o r ma t i o n P r o v i d e d b y : S e t h H am i l t o n , BRE # 01897619C i t i v e s t R e a l t y S e r v i c e s, BRE # 01875823

2 .5% Coope r a t i n g B r o k e r Compen s a t i o n

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NEW CONSTRUCTION FOUR UNIT - COFO ISSUED APRIL, 2019 … · 138 n carondelet3 bed/2 bath2017 $3,200...

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