1005 n oxford ave, los angeles ca 90029 -...

PREMARKET OFFERING MEMORANDUM

1005 N OXFORD AVE, LOS ANGELES CA 90029PRICE $2,249,000

SETH HAMILTON [email protected]# 01897619

STREETLAMPPROPERTIES.COM

Turn key | No rent control | High cash flow

5.7% CAP RATE / 12.9 GRM

NEW CONSTRUCTION FOURPLEXIN PRIME MELROSE HILL LOCATION

T A B L E O F C O N T E N T S

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T H E O F F E R I N G2 Front unit3 Rear unit5 Property overview6 Site7 Site plans

P R O P E R T Y D E TA I L S13 Rent roll/MLSlisted rent comps14 MLS listed sale comps

S C H O O L S16 Attractions19 Other properties21 Contact

S T R E E T L A M P R O P E R T I E S . C O M1

We are pleased to announce the premarket offering of a new construction green certified fourplex in Hollywood community of Melrose Hill! This property is under construction with an anticipated completion of February 2017. The property will be delivered vacant and is not subject to rent control.

This luxury fourplex offers 12 bedrooms and 14 bedrooms in four townhouse style units. All units have three bedrooms and three and a half bathrooms, with one main level master suite and two upstairs bedrooms and baths. Each unit has an attached garage with direct access, plus an additional uncovered parking space. All units are finished with high quality materials, private laundry rooms, open floorplans and stainless steel kitchen appliances. They are equipped with separate meters for water, gas and electriciy as well as a fifth common area electric and water meter for servicing exterior lighting and landscape irrigation. Plans include installation of ‘LID’ containers for rain runoff capturing, drought tolerant landscaping and energy efficient appliances and fixtures presenting the buyer with a low maintenance, green certified property.

This project boasts an 92 walk score and is just blocks away from the world famous Paramount Studios and the Hollywood Forever Venue. It is in close proximity to public transportation and major freeways making it easy and convenient for daily commuting.

New construction four unit projects such as this are a great find and when available lease at higher rates than competing older properties. Neighborhood rents are strong, bringing a 12.9 GRM and 5.7% Cap rate to the buyer.

The developer is willing to entertain offers prior to completion. Don’t hesitate to contact us with any questions or to submit an offer.

T H E O F F E R I N G

SAMPLE FINISHESS T R E E T L A M P R O P E R T I E S . C O M2

O P E N F L O O R P L A N S

Q U A L I T Y F I N I S H E S


G R E E N C E R T I F I E D

L O W M A I N T E N A N C E


P R I V AT E L A Y O U T S

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

SAMPLE FINISHESS T R E E T L A M P R O P E R T I E S . C O M

THE PROPERTY: APN: 5536-022-002

# of Units: 4

Year Built: 2017

Building Size (SF): 5,850

Lot Size (SF): 6,025

Zoning: LAR3

THE OFFERING: List Price: $2,249,000

GRM: 12.9

Cap Rate: 5.7%

Price per SF: $384

Price per Unit: $562,250

AMENITIES: Covered Parking: 4

Uncovered Parking: 4

Laundry: Private Each Unit

Floors: 3

Tenant Meters: (water/gas/electric) 4

Owner/Common Meters: (water/electric) 1

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P R O P E R T Y O V E R V I E W


S I T E


S I T E P L A N


P L A N Sf i r s t f l o o r p l a n


P L A N Ss e c o n d f l o o r p l a n


P L A N St h i r d f l o o r p l a n


P R O P E R T Y D E T A I L SSUMMARIZED PRICING METRICS BUILDING DESCRIPTION PROPOSED FINANCING

PRICE: $2,249,000 NO. OF UNITS 4 LOAN AMOUNT $1,506,830DOWN (33%): $742,170 YR. BUILT 2017 INTEREST RATE 3.8%PRO FORMA GRM: 12.9 YR. RENOVATED - MONTHLY PAYMENT $7,021PRO FORMA CAP RATE: 5.7% ZONING LAR3 LTV 67%$/UNIT: $562,250 LOT SIZE (SQ FT) 6,025 AMORTIZATION (YEARS) 30$/SF: $384 GROSS SF 5,850 DSCR 1.52

ANNUALIZED OPERATING DATA PRO FORMA ANNUALIZED EXPENSES PRO FORMAFIXED EXPENSES

GROSS POTENTIAL RENTAL INCOME $174,000 REAL ESTATE TAXES 1.19% $26,763 GAIN (LOSS)-TO-LEASE $0 INSURANCE .35/SQ FT $2,048GROSS SCHEDULED RENTAL INCOME $174,000 UTILITIES $918 LESS: VACANCY 5% -$8,700EFFECTIVE GROSS INCOME $165,300 CONTROLLABLE EXPENSES LESS: EXPENSES $37,129 MANAGEMENT $350 MO. $4,200 MISCELLANEOUS INCOME $0 REPAIRS & MAINTENANCE $400/UNIT $1,600NET OPERATING INCOME $128,171 UNIT TURNOVER $400/UNIT $1,600

DEBT SERVICE -$84,254.22 TOTAL EXPENSES $37,129PRE-TAX CASH FLOW 5.9% $43,917.18 EXPENSES/UNIT $9,282 PRINCIPAL REDUCTION $26,994.68 EXPENSES/SQ FT $6.35TOTAL RETURN 9.55% $70,911.86 % OF EGI 22.5%

P U B L I C LY L I S T E D R E N T A L C O M P S

UNIT # STATUS UNIT TYPE UNIT SIZEPRICE / SQ FT

SCHEDULED GROSS INCOME # FLOORS / UNIT GARAGE LAUNDRY

1 VACANT 3B/3.5B 1,500 $2.47 $3,700 3 1 GAR, 1 UNCOV PRIVATE2 VACANT 3B/3.5B 1,500 $2.47 $3,700 3 1 GAR, 1 UNCOV PRIVATE3 VACANT 3B/3.5B 1,425 $2.49 $3,550 3 1 GAR, 1 UNCOV PRIVATE4 VACANT 3B/3.5B 1,425 $2.49 $3,550 3 1 GAR, 1 UNCOV PRIVATE4 VACANT 12B/14B 5,850 $2.48 $14,500 4 TOWNHOUSE STYLE 4 GARAGES / 4 UNCOV 4 PRIVATE ROOMS

ADDRESS STATUS UNIT TYPE YR. BUILT UNIT SIZE RENT $/SF LEASE/LIST DATE2312 N GOWER ST ACTIVE 2B/2B 1962 1,690 $4,995 $2.96 8/9/161824 GRIFFITH PARK LEASED 3B/3B 1994 1,519 $4,800 $3.16 8/31/162279 N BEACHWOOD LEASED 2B/2.5B 1932 1,394 $4,500 $3.23 8/18/166217 WARING AVE ACTIVE 3B/3B 2014 1,377 $3,795 $2.76 4/4/166546 LA MIRADA AVE LEASED 3B/3.5B 2016 1,600 $4,795 $3.00 8/31/166683 FRANKLIN AVE #6 LEASED 2B/3B 2008 1,860 $4,950 $2.66 8/10/16928 N WESTERN AVE #508 LEASED 3B/3B 2013 1,290 $3,295 $2.55 9/2/161307 N ALEXANDRIA AVE #3 ACTIVE 3B/2B.5 2008 1,558 $3,500 $2.25 9/6/16COMPARABLE AVERAGE: 1,536 $4,329 $2.82

SUBJECT PROPERTY: VACANT 2016 1,463 $3,625 $2.48


R E N T R O L L

P U B L I C LY L I S T E D S A L E C O M P SADDRESS STATUS UNIT COUNT BED BATH COUNT YR. BUILT SQ FT PRICE GRM $/SF SALE/LIST DATE316 N KENMORE AVE SOLD 4 12B/7B 2015 4,650 $1,888,000 14.0 $406.02 9/21/16809 N KINGSLEY DR SOLD 4 12B/8B 2016 4,976 $1,850,000 14.1 $371.78 6/27/164461 ROSEWOOD AVE SOLD 4 12B/8B 2016 4,794 $1,900,000 13.5 $396.33 8/11/166546 LA MIRADA AVE SOLD 4 10B/12B 2016 5,920 $2,690,000 13.4 $454.39 8/26/16523 N ST ANDREWS PL SOLD 4 11B/8B 2016 4,843 $1,900,000 13.6 $392.32 3/24/16537 N ST ANDREWS PL SOLD 4 11B/8B 2016 4,843 $1,925,000 13.3 $397.48 7/1/167832 FLIGHT AVE SOLD 4 12B/8B 2016 $2,552,000 15.2 8/21/162614 CHARITON ST ACTIVE 4 14B/14B 2015 5,875 $2,699,000 18.2 $459.40617 N PLYMOUTH ACTIVE 4 16B/16B 1924 4,368 $2,700,000 14.1 $618.13 6/24/166508 CERRITOS PL ACTIVE 8 16B/8B 1927 6,620 $3,400,000 16.7 $513.60 5/19/161176 N WESTMORELAND AVE ACTIVE 4 14B/12B 2004 6,530 $2,700,000 16.4 $413.48 8/30/16COMP AVERAGE: 1998 5,342 $2,382,182 14.8 $442.29

SUBJECT PROPERTY: VACANT 4 12B/14B 2016 5,850 $2,249,000 12.9 $384.44

COMP $/SQ FT $442.29SUBJECT SQ FT 5,850SUGGESTED VALUE $2,587,416

COMP GRM 14.76SUBJECT GROSS POTENTIAL RENT $174,000SUGGESTED VALUE $2,568,097



S C H O O L S

1 Kingsley Elementary School .04 miles

2 French Nursery School .5 miles

3 Harvard Pre-School Kindergarten .5 miles

4 Ramona Elementary School .5 miles

5 Immaculate Heart of Mary School .6 miles

6 Pacific Southwest Lutheran Learning Center .6 miles

7 Canyon Oaks School .6 miles

8 Van Ness Elementary School .7 miles

9 Helen Berstein Highschool .7 miles

10 Joseph Le Conte Middle School .7 miles

11 Los Angeles City College .8 miles


AT T R A C T I O N S

S T R E E T L A M P R O P E R T I E S . C O M17 S T R E E T L A M P R O P E R T I E S . C O M


O U R N E I G H B O R H O O D

D E M O G R A P H I C SW A L K S C O R EW A L K 9 2 %

B I K E 6 9 %

T R A N S I T 6 9 %

A F R I C A N A M E R I C A N 1 , 0 7 5A S I A N O R P A C I F I C I S L A N D E R 2 1I N D I A N 5 7M I X E D R A C E S 5 8 7O T H E R 1 1 6W H I T E 7 , 8 9 8H I S P A N I C 2 2 , 6 6 0

L O C A L FA V O R I T E S

A s a v a T h a i R e s t a u r a n t. 9 m i l e s

T h e B a r. 8 m i l e s

M e l r o s e C a f e. 4 m i l e s

L e m o n G r o v e P a r k. 3 m i l e s

S T R E E T L A M P R O P E R T I E S . C O M

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NOVEMBER 2016; $1,849,000; 3 UNITS - 10B/10B (1X 4B/4B, 2X 3B/3B); TOTAL SQ FT 4,917, LOT SF 7,301; GROSS RENTS TBD. GREAT SETUP OF THREE UNITS IN ECHO PARK WITH DETACHED MAIN HOUSE AND A DETACHED 2,682 SQ. FT DUPLEX IN THE REAR OF THE LOT. | ACCEPTING BACKUP OFFERS

5235 VIRGINIA AVE,LOS ANGELES 90029

NOVEMBER 2016; $2,249,000; 4 UNITS - 16B/11B (3X 4B/3B, 1X 4B/2B); TOTAL SQ FT 6,288, LOT SF 8,363; GROSS RENTS TBD. NEW CONSTRUCTION FOURPLEX LOCATED IN PRIME HOLLYWOOD NEIGHBORHOOD. PROPERTY HAS TWO UNITS WITH 4 JUMBO SIZED UNITS TOTALING OVER 6,200 OF LIVABLE SQUARE FEET. | ACTIVE

5526 BARTON AVE, LOS ANGELES 90038

NOVEMBER 2016; $1,999,000; 4 UNITS - 14B/8B (2X 4B/2B, 2X 3B/2B); TOTAL SQ FT 5,387, LOT SF 7,075; GROSS RENTS TBD. FOUR EXTRA LARGE SIZED UNITS WITH SPACIOUS OPEN FLOORPLANS. PROPERTY IS CENTRALLY LOCATED BETWEEN HOLLYWOOD AND KOREATOWN | ACCEPTING BACKUP OFFERS

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S T R E E T L A M P R O P E R T I E S . C O M

6119 FOUNTAIN AVE, LOS ANGELES 90028

FEBRUARY 2017; $2,850,000; 4 UNITS - 11B/13.5B (1X 2B/2.5B, 3X 3B/3.5B); TOTAL SQ FT 6,420, LOT SF 7,504; GROSS RENTS TBD. FOUR LARGE SIZED TRI-LEVEL TOWNHOUSE STYLE UNITS WITH ATTACHED 2 CAR GARAGE. PRIME HOLLYWOOD LOCATION SITUATED JUST MINUTES FROM HOLLYWOOD FOREVER CONCERT VENUE, SUNSET BLVD AND GRIFFITH OBSERVATORY. | PREMARKET - ACCEPTING OFFERS

5313 RIVERTON AVE, NORTH HOLLYWOOD 91601

APRIL 2017; PRICE TBD; 4 UNITS - 12B/10B (1X 3B/2B, 1X 3B/2.5B, 2X 3B/3B); TOTAL SQ FT 5,554, LOT SF 5,400; GROSS RENTS TBD. FOUR TRI-LEVEL TOWNHOUSE STYLE UNITS. AWESOME NORTH HOLLYWOOD LOCATION SITUATED JUST MINUTES FROM NOHO ARTS DISTRICT AND TOLUCA WOODS | PREMARKET - ACCEPTING OFFERS

627 N MARIPOSA AVE, LOS ANGELES 90004

MARCH 2017; PRICE TBD; 3 UNITS - 11B/8.5B (1X 3B/2.5B, 2X 4B/3B); TOTAL SQ FT 4,673, LOT SF 6,999, GROSS RENTS TBD. PROPERTY BOASTS A DETACHED FRONT HOUSE AND A REAR DUPLEX. LOCATED JUST 1 MILE FROM THE NOHO ARTS DISTRICT, VALLEY VILLAGE AND TOLUCA WOODS. PROJECT IS BEGINNING CONSTRUCTION IN AUGUST 2016.| PREMARKET - ACCEPTING OFFERS

5650 FULCHER AVE, NORTH HOLLYWOOD 91601

MARCH 2017; PRICE TBD; 4 UNITS - 12B/10B (2X 3B/2.5B, 1X 3B/2B, 1X 3B/3B); TOTAL SQ FT 4,962, LOT SF 7,504; GROSS RENTS TBD. THIS PROPERTY BOASTS 4 EXTRA LARGE SIZED UNITS CENTRALLY LOCATED BETWEEN HOLLY-WOOD AND KOREATOWN. PROPERTY IS BEGINNING CONSTRUCTION IN AUGUST.| PREMARKET - ACCEPTING OFFERS

5756 FULCHER AVE, NORTH HOLLYWOOD 91601

APRIL 2017; PRICE TBD; 3 UNITS - 11B/8.5B (1X 3B/2.5B, 2X 4B/3B); TOTAL SQ FT 4,673, LOT SF 6,999, GROSS RENTS TBD. MIRROR IMAGE TO 5650 FULCHER. LOCATED JUST 1 MILE FROM THE NOHO ARTS DISTRICT, VALLEY VIL-LAGE AND TOLUCA WOODS. PROJECT IS BEGINNING CONSTRUCTION IN AUGUST 2016. | PREMARKET - ACCEPTING OFFERS

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C O N T A C T I N F O

P L E A S E V I S I T :S T R E E T L A M P R O P E R T I E S . C O MF O R M O R E I N F O R M AT I O N O N O U R U P C O M I N G P R O P E R T I E S .

I n f o r m a t i o n P r o v i d e d b y : S e t h H a m i l t o n , B R E # 0 1 8 9 7 6 1 9C i t i v e s t R e a l t y S e r v i c e s , B R E # 0 1 8 7 5 8 2 3

2 . 5 % C o o p e r a t i n g B r o k e r C o m p e n s a t i o n

T h e i n f o r m a t i o n c o n t a i n e d h e r e i n i s n o t a s u b s t i t u t e f o r a t h o r o u g h i n d e p e n d e n t d u e d i l i g e n c e i n v e s t i g a t i o n . O w n e r / D e v e l o p e r /A g e n t a r e n o t q u a l i f i e d t o d i s c u s s o r a d v i s e o n l e g a l , a c c o u n t i n g , o r o t h e r m a t t e r s o u t s i d e o f t h o s e p e r m i t t e d b y s t a t e l a w. O w n e r / D e v e l o p e r / A g e n t h a v e n o t m a d e a n y i n v e s t i g a t i o n , a n d m a k e s n o w a r r a n t y o r r e p r e s e n t a t i o n , w i t h r e s p e c t t o t h e i n c o m e o r e x p e n s e s f o r t h e s u b j e c t p r o p e r t y , t h e f u t u r e p r o j e c t e d f i n a n c i a l p e r f o r m a n c e o f t h e p r o p e r t y .

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1005 n oxford ave, los angeles ca 90029 -...

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