$895,000OFFERING MEMORANDUM
Prime Location
550 W 41st Dr | Los Angeles, CA 90037
STEPHEN TAKAHASHI
(310) 403-9145
DRE #01944770
Exclusively Presented By:
JOHNNIE STIEGLER
(310) 447-2213
DRE #01981597
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 2
TAB
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TABLE OF CONTENTS
THE PROPERTY 3
Property Highlights / Overview
Property Photographs
THE FINANCIALS 8
Financial Summary
COMPARABLES 10
Market Comparables
THE LOCATION 13
County Overview
City Projects
MEET THE TEAM 19
DISCLAIMER AND CONFIDENTIALITY AGREEMENT 21
OFFERING MEMORANDUM
201 38th St
Manhattan Beach, CA 90266
LYON STAHL INVESTMENT REAL ESTATE • 3
PROPERTY
OVERVIEW
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 4
THE P
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PROPERTY OVERVIEW
PROPERTY SUMMARY
PRICE $895,000
ADDRESS 550 W 41st Dr
CITY, STATE, ZIP Los Angeles, CA 90037
COUNTY Los Angeles
NUMBER OF UNITS 5
YEAR BUILT 1956/1921
BUILDING SIZE 3,120
LOT SIZE 6,763
CURRENT CAP RATE 5.17%
PRO FORMA CAP RATE 7.62%
CURRENT GRM 12.50
PRO FORMA GRM 9.50
PRICE / BLDG SF $286.86
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 5
THE P
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PROPERTY OVERVIEW
INVESTMENT HIGHLIGHTS
• Unit Mix:
o (1) 2 Bedroom / 1 Bath
o (4) 1 Bedroom / 1 Bath
• Less than one mile from the LA Memorial Coliseum
• Market Cap: 7,62%
• Market GRM: 9.50
INVESTMENT SUMMARY
Stephen Takahashi of Lyon Stahl is pleased to present 550 41stDr in Los Angeles. This is a great value add deal near all thenew developments happening near Exposition Park, such asthe Lucas Museum of Narrative Art, the $315 millionrenovation of the Coliseum, and the Banc of CaliforniaStadium! This 5-unit apartment has a great unit mix of four 1bedroom/1 bath units and one 2 bedroom/ 1 bath unit. Thesubject property is 3,120 rentable sq ft, sitting on a 6,763 sq ftRD 1.5 lot. The property will be delivered fully occupied.
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 6
THE P
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PROPERTY PHOTOGRAPHSLOWER UNIT
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 7
THE P
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PROPERTY PHOTOGRAPHSLOWER UNIT
OFFERING MEMORANDUM
201 38th St
Manhattan Beach, CA 90266
LYON STAHL INVESTMENT REAL ESTATE • 8
FINANCIAL
OVERVIEW
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 9
FIN
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FINANCIAL OVERVIEW
EXPENSE SUMMARY
Current Actuals Market Pro Forma
Real Estate Taxes and Special
Assessment Tax$11,188 $11,188
Insurance $0.35/sqft $1,092 $1,092
Utilities $800/unit/yr $4,000 $4,000
Maintenance/Repairs 3% $2,148.12 $2,148.12
TOTAL EXPENSES $23,208 $23,208
Expense Per Unit $4,642 $4,642
Expense Per SF $3.43 $3.43
NET OPERATING INCOME $46,248 $46,248
Pre-Tax Cash Flow 3.72% $7,908 $7,908
Principal Reduction $11,112 $11,112
TOTAL RETURN 7.87% $19,020 $19,020
SCHEDULED RENT SUMMARY
Unit Type No. Of Units Current Rent Market Rent
1-Bed / 1-Bath 2 $1,300 $1,500
1-Bed / 1-Bath 1 $1,500 $1,500
1-Bed / 1-Bath 1 $850 $1,500
2-Bed / 1-Bath 1 $1,017 $1,850
SCHEDULED RENT SUMMARY
Current Actuals Market Rent
Gross Scheduled Income $71,604 $94,200
Less Vacancy 3% $2,148 $2,826
Gross Operating Income $69,456 $91,374
PROPERTY SUMMARY
ADDRESS 550 W 41st Dr, Los Angeles, CA 90037
APN
NUMBER OF UNITS 5
YEAR BUILT 1956/1921
BUILDING SIZE 3,120 SF
LOT SIZE 6,763 SF
CURRENT CAP RATE 5.17%
CURRENT GRM 12.50
MARKET CAP RATE 7.62%
MARKET GRM 9.50
PRICE PER UNIT $179,000
PRICE PER SF $286.86
PRICING SUMMARY
PRICE $895,000
FINANCIAL SUMMARY
LOAN AMOUNT $653,350
DOWN PAYMENT (27%) $241,659
INTEREST RATE 4.2%
MONTHLY PAYMENT $3,195
ANNUAL PAYMENT $38,340
LOAN-TO-VALUE 73%
AMORTIZATION 30-YRS
LOAN TERM 5-YR FIXED
DEBT CONVERAGE RATIO 1.21
PROPOSED/EXISTING PROPOSED
OFFERING MEMORANDUM
201 38th St
Manhattan Beach, CA 90266
LYON STAHL INVESTMENT REAL ESTATE • 10
COMPARABLES
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 11
Address Price Units Year Built Building Size Price/Unit Price/SF
874 W 40th PlLos Angeles
CA 90037$850,000 5 1917 6,451 $170,000 $164.25
831 W 43rd StLos Angeles
CA 90037$1,150,000 8 1961 5,298 $143,125 $217.06
807 W 43rd StLos Angeles
CA 90037$1,815,000 8 1925 8,464 $231,250 $214.44
957 W 45th StLos Angeles
CA 90037$880,000 7 1924 3,632 $139,268 $242.29
871 W 47th StLos Angeles
CA 90037$985,000 6 1928 4,315 $166,667 $228.27
Averages $1,136,000 N/A N/A 5,632 $170,062 $213.62
550 W 41st DrLos Angeles
CA 90037$895,000 5 1956/1921 3,120 $179,000 $286.86
CO
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MARKETCOMPARABLES
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550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 12
CO
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MARKETCOMPARABLES MAP
OFFERING MEMORANDUM
201 38th St
Manhattan Beach, CA 90266
LYON STAHL INVESTMENT REAL ESTATE • 13
LOCATION
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 14
THE LO
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LOCAL MAP
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 15
THE LO
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AERIAL MAP
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 16
COUNTY OVERVIEW
Los Angeles
The most heavily populated county in the country is Los Angeles County with
approximately 9.9 million people, including about 1 million that live in
unincorporated areas of the county. The metropolis - formed by the six
neighboring counties of Los Angeles, Ventura, Kern, San Bernardino, Riverside,
and Orange - is home to approximately 19 million residents. Los Angeles County
is home to one of the most educated labor pools in the country and offers a
labor force of more than 4.7 million, of which more than 1.5 million are college
graduates. Los Angeles County has the largest population of any county in the
nation, exceeded only by eight states. According to the United States
Conference of Mayors, Los Angeles County boasts a GDP among the twenty
largest in the world. Los Angeles County’s continued economic growth, in
contrast to other areas of the state and nation, is due to its diversified economy
and abundant, well-trained workforce.
Los Angeles County is well located on the Southern Coast of the California, and
covers 4,061 square miles, including the San Clemente and Santa Catalina
islands. The County is comprised of approximately 88 vibrant and diverse cities
hosting more than 244,000 business establishments— the greatest
concentration in the state. Los Angeles County has a Gross Domestic Product
(GDP) of approximately $446 billion - placing it among the top 20 economies in
the world. The combined GDP of Los Angeles and its five surrounding
neighboring counties places it in the top 10. California is generally considered
to be in the top five.
If Los Angeles County were its own nation, its economy would be the 18th
largest in the world. It is home to more than 244,000 businesses, with more
minority and women owned businesses than any other in the nation and is the
nation’s top international trade center and manufacturing center. Los Angeles
is recognized worldwide as a leader in entertainment, health sciences, business
services, aerospace and international trade. Because the Los Angeles area is so
large and diverse, it has something to offer to everyone. While Hollywood and
the Los Angeles beach culture are part of our collective image of Los Angeles,
the city also has more museums than any other city and some of the best
hotels in the world are located in Los Angeles.
County Highlights• Los Angeles County is the world’s 18th largest economy.
• Los Angeles part of the "Tech Coast" and is regarded as the of
the main entrepreneurial regions of the world. It has
approximately 200,000 small businesses, which is twice as many
small businesses as can be found in any other region of the
United States.
• If Los Angeles' five county area were a state, it would be the
fourth largest in the United States.
• Los Angeles has more than 80 stage theaters and 300 museums,
more than any other U.S city.
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 17
THE LO
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CITY PROJECTS
*Rendering courtesy of JLL
Lucas Museum of Narrative Arts
Exposition Park is already a destination for museum-goers. Now, George Lucas is adding to the mix with his museum devoted to thenarrative arts. The futuristic-looking building will be designed by MAD architects will house art focused “on the power of a single image totell a story, inspire emotion, or encapsulate universal truths.” Its scheduled to open in 2021.
Lucas Museum of Narrative Arts
550 W 41st Dr
Los Angeles, CA 90037
LYON STAHL INVESTMENT REAL ESTATE • 18
THE LO
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CITY PROJECTS
Source: Tbrnews.com
Banc of California Stadium
Another big addition to Exposition Park: The shiny new home of the Los Angeles Football Club in Exposition Park opened just this spring.The open-air stadium holds 22,000 seats and offers some sweet city views. It also boast an impressive food line-up, including Koreatown’sBeer Belly
Banc of California Stadium
OFFERING MEMORANDUM
201 38th St
Manhattan Beach, CA 90266
LYON STAHL INVESTMENT REAL ESTATE • 19
THE TEAM
THE TEA
M STIEGLER TAKAHASHI GROUP
LYON STAHL INVESTMENT REAL ESTATE • 32
JOHNNIE STIEGLERVice President
STEPHEN TAKAHASHIVice President
Stephen Takahashi is a Vice President at Lyon Stahl InvestmentReal Estate. He provides the highest level of service tomultifamily owners and investors with superior market
knowledge and can deliver valuation and analysis of markettrends. He and his team have expertise in sales, acquisition,
development, finance and valuation, which extends toconventional apartment properties, condo development and
conversions, single family, student housing and residentialincome development land.
He is a knowledgeable, results-driven broker who is backed bythe most innovative and scalable technology the commercial
real estate industry has to offer. Stephen and his team canprovide clients with unparalleled market information,
brokerage advisory, acquisition, disposition and financialguidance to help achieve the highest level of results. If
expanding your portfolio is the objective, he can help youidentify, exchange and acquire properties which meet or
exceed your investment goals.
Johnnie grew up in Manhattan Beach, California and has consistently been one of the top producers at Lyon Stahl, year
after year. He graduated from Northwood University in West Palm Beach Florida with a degree in business. Upon graduating, he
returned to Southern California and worked as a sales and finance manager at his family’s automobile dealership (Auto Stiegler Mercedes Benz of Encino, California) a well-known
business that existed for more than 50 years.
After deciding to follow his passion in real estate, Johnnie joined Lyon Stahl and was awarded Top Producer his first year. Johnnie has always gone to great lengths, doing everything possible to
help his clients succeed. He maintains a steadfast dedication to effectively guiding his clients through the process of reaching their real estate goals. He specializes in selling multifamily investment
properties in the Beach Cities, Westside, and throughout the South Bay communities.
THE TEA
M TEAM STIEGLER
LYON STAHL INVESTMENT REAL ESTATE • 33
LUCAS HERBSTLeads Coordinator
SEAN MACNAUGHTONTransaction Coordinator
DUSTIN CHANGEDirector of Operations
The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended
to be reviewed only by the party receiving it from Broker and should not be made available to anyone else without the
written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will
hold it in the strictest confidence, and that you will not disclose any of its contents contrary to these terms.
This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in
the subject property (“Property”). The information in this Memorandum has been obtained from sources Broker believes to be
reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever
including but not limited to the accuracy or completeness of the information, veracity or accuracy of the information,
condition of the Property or its compliance or lack of compliance with applicable governmental requirements,
developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square
footage of the Property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the
compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition
or business Property and does not purport to be an all – inclusive representation regarding the Property or to contain all or
part of the information which prospective investors may require to evaluate the purchase of the Property. Additional
information and an opportunity to investigate the Property will be made available to interested and qualified prospective
purchasers. All information is based on assumptions relating to the general economy, market conditions, competition and
other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained
herein is not a substitute for a thorough due diligence investigation. Interested parties are expected to review all information
of whatever nature independently and not rely on the contents of this Memorandum in any manner.
The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the
Property, and/or to terminate discussions at any time with or without notice. The Owner shall have no legal commitment or
obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any
conditions to the Owner’s obligations therein have been satisfied or waived.
DISCLAIMER & CONFIDENTIALITY AGREEMENT
LYON STAHL INVESTMENT REAL ESTATE • 21
EXCLUSIVELY MARKETED BY
JOHNNIE STIEGLER
(310) 447-2213
BRE # 01981597
STEPHEN TAKAHASHI
(310) 403-9145
BRE # 01944770