10 Units Studio City Adjacent

[Pages:33]4911 Laurel Canyon Blvd

10 Units ? Studio City Adjacent

4911 LAUREL CANYON BOULEVARD | VALLEY VILLAGE, CA

Capital Markets | Investment Properties

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an "Affiliate") engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the "Property") may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the "Owner"), to be allinclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its

contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner's obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

? 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

CONTACT

4911 LAUREL CANYON BOULEVARD | VALLEY VILLAGE

PRISCILLA NEE

Senior Vice President +1 310 550 2508 priscilla.nee@ Lic. 01435254

JAMES BRECHLIN

Associate +1 310 550 2522 james.brechlin@ Lic. 01861987

SARA KHERADMANDAN

Client Services Coordinator

+1 310 550 2559

sara.kheradmandan@

TABLE OF CONTENTS

I

ASSET OVERVIEW

II

FINANCIALS

III

SALES COMPARABLES

IV

RENT COMPARABLES

V

MARKET OVERVIEW

TABLE OF CONTENTS

3

4911 LAUREL CANYON BOULEVARD | VALLEY VILLAGE

ASSET OVERVIEW

4

ASSET OVERVIEW | 4911 LAUREL CANYON BOULEVARD

THE OFFERING

4911 LAUREL CANYON BOULEVARD | VALLEY VILLAGE

CBRE, Inc. is proud to exclusively present 4911 Laurel Canyon Boulevard in Valley Village. 4911 Laurel Canyon Boulevard, located just west of Coldwater Canyon Avenue, between Magnolia Boulevard and Riverside Drive, offers an investor the rare opportunity to own an excellent piece of real estate in one of the healthiest and most attractive rental submarkets within the San Fernando Valley.

Constructed in 1962, 4911 Laurel Canyon Boulevard is a two-story, 10 unit multifamily property, with a total building size of ?9,218 square feet, on a large ?11,899 square foot R3 lot. The well maintained, lushly landscaped property is separately metered for gas and electric, is serviced by a central water heater, and offers an on-site laundry facility and 10 carport and tuckunder parking spaces. The property has seen recent capital improvements including newer exterior paint and removal of the swimming pool. The property is not subject to soft story retrofit.

4911 Laurel Canyon Boulevard offers a excellent unit mix of three one-bedroom/one-bathroom units, two two-bedroom/one-bathroom units, and five two-bedroom/two-bathroom units. The units offer laminate or carpet, and tile flooring, a stove, ample closet and storage space, and wall units for heating and cooling. Units are spacious with the one bedroom units estimated at ?750 square feet, and the two bedroom units estimated at ?1,000 square feet.

The current ownership has diligently maintained and managed the property, and the property is being offered with minimal deferred maintenance. Rents at the property are approximately ?38% below market rents. Given that the property is rent-controlled, upon each vacancy, a new owner is presented with the opportunity to immediately increase rents to market with minimal capital injection, and further increase rental income with complete unit renovations.

4911 Laurel Canyon Boulevard is located in the heart of the vibrant East San Fernando Valley, just steps from Gelson's Supermarket, Starbucks, restaurants, specialized cafes and eateries along Laurel Canyon Boulevard and Riverside Drive, and blocks from Ventura Boulevard's retail and restaurant corridor. Additionally, the property is surrounded by the most distinguished private schools on the west coast, such as Campbell Hall, Harvard-Westlake, Notre Dame, and Buckley, and in close proximity to local schools, including the Art Institute in North Hollywood and Los Angeles Valley College.

4911 Laurel Canyon Boulevard is advantageously positioned adjacent to Studio City, Sherman Oaks, Toluca Lake, Burbank, and North Hollywood, providing easy access to Universal Studios, Warner Brothers Studios, the Burbank Media District, and North Hollywood's Arts District. 4911 Laurel Canyon Boulevard is also ideally situated on a main artery, in close proximity to the 101, 134, and 170 Freeways, as well as Coldwater Canyon Avenue, Mulholland Drive, and Beverly Glen Boulevard, direct thoroughfares to the affluent West Los Angeles areas of Bel Air, Beverly Hills, and West Hollywood.

Given the property's favorable real estate fundamentals, which include its desirable location, excellent unit mix, and substantial opportunity for growth, 4911 Laurel Canyon Boulevard is a solid investment for an investor seeking growth, stability, and a hedge against inflation.

ASSET OVERVIEW

6

4911 LAUREL CANYON BOULEVARD | VALLEY VILLAGE

PROPERTY DESCRIPTION

INVESTMENT HIGHLIGHTS

PRIME LOCATION

Adjacent to Studio City, Sherman Oaks, Toluca Lake, and North Hollywood Arts District

Easy Access to Coldwater Canyon Ave, Mulholland Dr, and the 101, 134, and 170 Freeways

Walking Distance to Gelson's Starbucks, and shops and restaurants along Laurel Canyon Blvd, Riverside Dr, and

Ventura Blvd

CURRENT RENTS ?38% UNDER MARKET Further Upside with

Complete Unit Renovations upon Each Vacancy

Not Subject to Soft Story Retrofit

COMMON AREA AMENITIES + Well Maintained, Lushly Landscaped + Newer Exterior Paint + 10 Covered Parking Spaces + Pool Removed, Replaced with Patio Furniture + On-Site Laundry Facility + Separately Metered for Gas and Electric + Central Water Heater

?9,218 SF BUILDING ON ?11,899 SF R3 LOT Lot Zoned R3*

EXCELLENT UNIT MIX 3 (1+1's) 2 (2+1's) 5 (2+2's)

Spacious Units

WELL AMENITIZED On-Site Laundry Facility Covered Parking Spaces

SEPARATELY METERED FOR GAS AND ELECTRIC

Water, Sewer, Trash ? Landlord Gas, Electric ? Tenant

UNIT AMENITIES + Laminate or Carpet, and Tile Flooring + Spacious Units + Select Units Upgraded with Granite Countertops + Appliances - Gas Stove + Wall Units for Heating and Cooling + Ample Closet and Storage Space

*Buyer to verify and confirm with City and own consultants. Seller and Seller's Agents make no warranties or representations.

ASSET OVERVIEW

7

4911 LAUREL CANYON BOULEVARD | VALLEY VILLAGE

PROPERTY DESCRIPTION

ADDRESS

4911 LAUREL CANYON BLVD VALLEY VILLAGE, CA 91607

PRICE

$2,700,000

BUILDING SIZE

?9,218 SF

LOT SIZE

?11,899 SF

YEAR BUILT

1962

OCCUPANCY

100%

ZONING

R3 Medium Residential

# OF UNITS

10

# OF BUILDINGS

1

# OF STORIES

2

PARKING

8 Carport 2 Tuckunder 10 Total

PARKING RATIO

1:1

UTILITIES: MECHANICAL: CONSTRUCTION:

Water, Sewer, Trash ? Landlord Gas, Electric ? Tenant

Wall Units for Heating and Cooling Central Water Heater

Wood Frame, Stucco, Pitched Roof

APN:

2356-006-003

ASSET OVERVIEW

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