5500 Barton vene - LoopNet...5500 Barton vene 13 PRICING DETAILS PRICE $2,050,000 Down Payment $1,025,000 Down Payment % 50% Number of Units 5 Gross Leasable Area (GLA) 2,875 SF Lot

15500 Barton Avenue

2

CONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by

the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of

Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and

to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough

due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to

the income or expenses for the subject property, the future projected financial performance of 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

and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant,

or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure

has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the in-

formation contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or

representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate

measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment

Services, Inc.

© 2020 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICENON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.

The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said

corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap,

and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

PROPERTY OVERVIEW 4

AERIAL MAP 8

SITE PLAN

MARKET OVERVIEW

9

14

FINANCIALS

DEVELOPMENT OVERVIEW

SALES COMPARABLES

PHOTOS

AREA OVERVIEW

DEMOGRAPHICS

11

16

20

18

24

26

TABLE OF CONTENTSTABLE OF CONTENTS

4

EXECUTIVE SUMMARYEXECUTIVE SUMMARYMarcus and Millichap, as the exclusive listing agent, is

pleased to present the opportunity to acquire 5500 Barton

Avenue. Two structures consist of total five units situated

on a 8,599 square foot RD1.5 zoned lot, and Spanish style

four-unit building in front is composed of four one-bed-

room / one-bathroom units. Detached two-bedroom /

one-bathroom rear house unit with private outdoor patio

has been remodeled and features new windows, hard-

wood flooring, stainless steel appliances, washer/dryer,

new tiles, and other upgrades. There are three enclosed

garages and plenty of surface open parking spaces for

tenants. Detached house unit and recently renovated unit

#5502 is being delivered vacant.

Originally built in 1921, 5500 Barton Avenue is within in min-

utes of Hollywood’s new trendy restaurants and shops on

Melrose Avenue and Santa Monica Boulevard. The imme-

diate area is rapidly improving with newly developed units.

This is an excellent opportunity to acquire a well-main-

tained property in a location that continues to attract high-

end urban apartment dwellers.

Proximity to

101 Freeway

Within Minutes from

Hollywood, Los Feliz,

and Koreatown

Four (4) Units

Delivered Vacant

Washer and Dryer

in All Units

Potential to Convert

Garage into ADU

(Accessory Dwelling Unit)

Three (3) Enclosed

Garages and Ample

Open Parking Spaces

INVESTMENT HIGHLIGHTSINVESTMENT HIGHLIGHTS

55500 Barton Avenue

6

PROPERTY DETAILSPROPERTY DETAILS

Asking Price $2,050,000

Property Type Low-Rise Apartments

GLA 2,875 SF

Lot Size 8,599 SF

Number of Units 5

Stories 2

Year Built/Renovated 1921/2019

Parking 8 +

Metering Individually Metered

Number of Buildings 2

Construction Wood

Walk Score 91

Transit Score 59

Zoning RD1.5

Parcel 5535-008-012

5500 BARTON AVENUE, LOS ANGELES, CA 90038

75500 Barton Avenue

AERIAL MAPAERIAL MAP8

95500 Barton Avenue

SITE PLANSITE PLAN

ADUADU10

(ACCESSORY DWELLING UNIT)(ACCESSORY DWELLING UNIT)

An Accessory Dwelling Unit, also known as a granny or in-law unit, is

a living unit that may be up to 1200 sq. ft. An ADU is an attached or

detached residential dwelling unit which provides independent living

facilities for one or more persons. The ADU unit is located on the same

property as the primary residence, is accessory to the primary residen-

tial building.

ADU Potential

115500 Barton Avenue

RENTROLL SUMMARYRENTROLL SUMMARY

AS OF MARCH 2020

SCHEDULED POTENTIAL

UNIT TYPE # OF SUITEAVG.SF

RENTALRANGE

AVERAGE RENT

AVERAGERENT/SF

MONTHLY INCOME

AVERAGE RENT

AVERAGERENT/SF

MONTHLY INCOME

2 Bed / 1 Bath (Cottage) 1 850 $3,200 - $3,200 $3,200 $3.76 $3,200 $3,200 $3.76 3,200

1 Bed / 1 Bath 4 506 $1,260 - $2,195 $1,919 $3.79 $7,675 $2,195 $4.34 $8,780

Totals/Weighted Averages 5 575 SF $2,175 $3.78 $10,875 $2,396 $4.17 $11,980

Gross Annualized Rents $130,500 $143,760

CURRENT UNIT UNIT TYPESQUARE

FEETCURRENT

RENT/MONTHCURRENT

RENT/SF/MONTHSCHEDULED

RENT/MONTHSCHEDULED

RENT/SF/MONTH

5500 2 Bed / 1 Bath 850 Vacant Vacant $3,200 $3.76

5502 1 Bed / 1 Bath 525 Vacant Vacant $2,195 $4.18

5502.5* 1 Bed / 1 Bath 500 $1,260 $2.52 $1,260 $2.52

5504 1 Bed / 1 Bath 500 $2,025 $4.05 $2,025 $4.05

5504.5* 1 Bed / 1 Bath 500 $2,195 $4.39 $2,195 $4.39

Total 2,875 SF $5,480 $1.91 $10,875 $3.78

* Unit 5502.5 Rent increases to $1365.45 on May 1st, 2020

* Unit 5504.5 will be vacant on April 1st, 2020

* Unit 5504 will be vacant on April 30th, 2020

* Unit 5500 & Unit 5502 Delivered Vacant

12

OPERATING STATEMENTOPERATING STATEMENTINCOME CURRENT PRO-FORMA

Gross Potential Rent $130,500 $143,401

Less: Vacancy/Deductions $6,525 5.00% $7,170 5.00%

Total Effective Rental Income $123,975 $136,231

Other Income $3,600 $38,400

Effective Gross Income $127,575 $174,631

Less: Expenses $27,706 21.70% $36,506 20.90%

Net Operating Income $99,869 $138,125

Cash Flow $99,869 $138,125

Debt Service $55,232 $55,232

Net Cash Flow After Debt Service $44,637 4.35% $82,892 8.09%

Principal Reduction $19,671 $20,371

Total Return $64,308 6.27% $103,263 10.07%

EXPENSES CURRENT PRO-FORMA

Real Estate Taxes $19,946 $19,946

Insurance $3,300 $3,300

Utilities - Water & Sewer $1,500 $1,800

Repairs & Maintenance $2,000 $2,000

Landscaping $960 $960

Marketing & Advertising 0 $2,000

General & Administrative 0 $1,000

Misc. Expenses 0 $2,500

Operating Reserves 0 $3,000

Total Expenses $27,706 $36,506

Expenses/Unit $5,541 $7,301

Expenses/SF $9.64 $12.70

ADU


PRICING DETAILSPRICING DETAILS

PRICE $2,050,000

Down Payment $1,025,000

Down Payment % 50%

Number of Units 5

Gross Leasable Area (GLA) 2,875 SF

Lot Size 0.20 Acres / 8,599 SF

Year Built/Renovated 1921/2019

RETURNS CURRENT PRO-FORMA

CAP Rate 4.87% 6.74%

GRM 15.71 14.30

Cash-on-Cash 4.35% 8.09%

Debt Coverage Ratio 1.81 2.50

FINANCING 1st Loan

Loan Amount $1,025,000

Loan Type New

Interest Rate 3.50%

Amortization 30 Years

Year Due 2050

1 2

3

4

5

67

89 10 11

12

13 14

1

2

3

4

5

67

8 9 1011

12

13

14

15

16

1 2

3

4

5 6

7

89

10

11 12

1314

15 16

17

1

2

3

4

5

MARKET OVERVIEWMARKET OVERVIEW

14


1

8

15

2

9

3

10

4

11

5

12

6

13

7

14

1

8

15

2

9

16

3

10

17

4

11

5

12

6

13

7

14

1 2 3 4 5

1

8

2

9

3

10

4

11

5

12

6

13

7

14

RESTAURANT & COFFEE

RETAIL

ATTRACTIONS

OTHERS

In & Out Burgers

Whole FoodsMarket

Farmers Market

Los AngelesFire Department Station 27

The HollywoodMuseum

The Home Depot

Arco

Starbucks

Salt & Straw

Starbucks

Sprouts FarmersMarket

Hollywood Bowl

Hollywood DMV

Museum of Death

Arco

Yogurtland

Chick-fil-A

Trader Joe’s

The Grove

US Social SecurityAdministration

HollywoodWax Museum

Food 4 Less

Denny’s

Noshi Sushi

Pink’s Hot Dogs

Office Depot

Griffith Observatory

Los AngelesCity College

Hollywood Walkof Fame HQ

Vons

Shabushi

Jack in the Box

CVS Pharmacy

Los AngelesCounty Museumof Art

Gnomon - School of Visual Effects, Games, Animation

HollywoodPantages Theatre

99 Cent Store

Starbucks

McDonald’s

California Chicken Cafe

7-Eleven

Dolby Theatre

Paramount Pictures Studio Tour

Smart & FinalExtra!

Starbucks

Shake Shack

CVS Pharmacy

TCL ChineseTheatre

Paramount Theatre

76

Wendy’s

1

2

3

4 5

14

15

16

17

18

6

7

98

13

10

11

12

19

1

2

3

9

10

4

11 12

14

7 8

13

3

4

2

1

5

6

SANTA MONICA BOULEVARDSANTA MONICA BOULEVARD

SUNSET BOULEVARDSUNSET BOULEVARD

MELROSE AVENUEMELROSE AVENUE

WE

ST

ER

N A

VE

NU

EW

ES

TE

RN

AV

EN

UE

NO

RT

H W

ILTO

N P

LA

CE

NO

RT

H W

ILTO

N P

LA

CE

VIN

E S

TR

EE

TV

INE

ST

RE

ET

NO

RT

H G

OW

ER

ST

RE

ET

NO

RT

H G

OW

ER

ST

RE

ET

16


DEVELOPMENT OVERVIEWDEVELOPMENT OVERVIEW

1

8

2

9

3

10

4

11

5

12

6

13

7

14

1 2 3 4

1

8

15

2

9

16

3

10

17

4

11

18

5

12

19

6

13

20

7

14

21

20

21

PROPOSED

UNDER CONSTRUCTION

COMPLETED

6400 Sunset

5420 West Sunset

GodfreyHotel

Tamarind 6

901 North Vine

EmersonCollege

1360 North Vine

5831 SantaMonica (R)

Academy Square

Cue

711 Cole

748 NorthWilcox

1375 Saint Andrews

Santa Monica/Sant Andrews

1439 NorthTamarind

“Slot”Townhomes

5245 SantaMonica

1400 North Vine

1025 NorthWilcox

The RiseHollywood

1310 Tarmarind

1310 Tarmarind

Icon at SBS

1310 North Gordon

Paseo Plaza

6200 Sunset

1276 Western

743 NorthGramercy

Sunset GowerStudios (R)

5721 SantaMonica

EssexHollywood

1350 NorthWestern

Musician’s Credit Union(R)

Micropolitan atLarchmont Village

TargetHollywood

ParamountStudiosExpansion

1338 NorthGordon

Vine Inn &Suites

4658 Melrose

26 StoriesMixed-Use (200 units + 7k SF Retail)

Mixed-Use(735 Units)

7 StoriesMixed-Use (220 Rooms)

3 StoriesResidential Building

5 StoriesMixed-Use (76 Units+3.2ㅏㅏk SF Retail)

10 Stories

200,000 SFMixed-Use Building


7 StoriesMixed-Use(369 Units)



14 Stories

21 StoriesMixed-Use (429 Units)

2 StoriesOffice Conversion


5 StoriesOffice

4 Stories84 Apartments

4 StoriesApartments

3x OfficeBuildings (18 Stories)



7 StoriesMixed-Use


3 StoriesResidential Building (34 Units)

5 Stories Residential (60 Units)




11 SFRHomes

7 StoriesApartment




5 StoriesMixed-Use

On Hold

1..4m SF


6 Stories


PHOTOSPHOTOS

18

20

SALES COMPARABLESSALES COMPARABLES

1

2

6

3

7

4

5

PROPERTY ADDRESS SALE PRICE SALE DATE UNITS NUMBER OF UNITS CAP RATE YEAR BUILT

5500 Barton Avenue $2,050,000 N/A(1) 2 Bed 1 Bath(4) 1 Bed 1 Bath

5 4.87% 1921

5941 Barton Avenue $3,830,000 10/04/2019(3) 2 Bed 2 Bath Loft(2) 3 Bed 3 Bath Loft

5 4.38% 2015

1054 Kingsley Drive $1,290,000 07/03/2019(3) 2 Bed 1 Bath(1) 3 Bed 1 Bath(1) 1 Bed 1 Bath

5 3.54% 1920

5843 Gregory Avenue $2,150,000 09/17/2019(9) 1 Bed 1 Bath(1) 2 Bed 1 Bath

10 2.98% 1958

6133 Eleanor Avenue $1,900,000 08/29/2019(1) Studio

(7) 1 Bed 1Bath(1) 2 Bed 1 Bath

9 2.43% 1960

6026 Barton Avenue $1,385,000 11/18/2019(1) 1 Bed 1 Bath(3) 2 Bed 1 Bath

4 3.34% 1896

5012 Maplewood Avenue $1,785,000 03/06/2019(1) Studio

(4) 1 Bed 1 Bath(3) 2 Bed 1 Bath

8 3.47% 1961

845 Normandie Avenue $1,900,000 10/25/2019 (9) Studio 9 2.29% 1954

35

7

6

4

1

2


22

SA

LE

S C

OM

PA

RA

BL

ES

2

5

3

6

1

4

7

5500 Barton Avenue, Los Angeles, CA 90038

1054 Kingsley Drive, Los Angeles, CA 90029


5843 Gregory Avenue, Los Angeles, CA 90038

5012 Maplewood Avenue, Los Angeles, CA

90004

6133 Eleanor Avenue, Los Angeles, CA 90038

845 Normandie Avenue, Los Angeles, CA 90029



0

5

10

15

20

25

SA

LE

S

CO

MP

AR

AB

LE

S

6133 Eleanor Avenue, Los Angeles, CA 90038

AVERAGECAP RATE

5500 Barton Avenue

5941 Barton Avenue

1054Kingsley

Drive

6133 EleanorAvenue

6026BartonAvenue

5012 Maplewood

Avenue

845Normandie

Avenue

Average 17.32

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

5500 Barton Avenue

1054Kingsley

Drive

5843 GregoryAvenue

6133EleanorAvenue

6026BartonAvenue

5012 Maplewood

Avenue

845Normandie

Avenue

Average 3.01%

AVERAGE GRM

24

HOLLYWOODHOLLYWOOD

Hollywood is experiencing incredible residential, commercial and infra-

structural growth, driving tourism and attracting swarms of mediatalent.

The booming market has demonstrated incredible demand, driving ter-

rific market fundamentals, record-breaking rental rates, and the influx of

premier entertainment tenants. In 2017, Hollywood welcomed a tenant

migration of modern entertainment powerhouses, headlined by Netflix’s

500,000+ SF and Viacom’s 200,000+ SF. In May 2018 Netflix reached a

remarkable milestone, becoming the most valuable media and enter-

tainment company in the world. The relocations by Netflix, Viacom, and

others evidence Hollywood’s standing as the benefactor from the immi-

nent explosion of content in the entertainment industry. The entertain-

ment world stands to transform and flourish for a long time to come, with

Hollywood leading the charge. The city of Hollywood is among the most

densely populated neighborhoods in all of Los Angeles, due to its numer-

ous amenities and its close proximity to many employers.


AREA OVERVIEWAREA OVERVIEW

Because of its history and attractions like Walk of Fame

and the Dolby Theatre, Hollywood has always been the

main attraction for tourists and now, home to many major

entertainment companies like Netflix and CBS TV City. It

is famous as the historical center of movie studios and

movie stars. Hollywood Boulevard is a Los Angeles cul-

tural icon, with museums, landmarks and other attrac-

tions that celebrate Los Angeles.’s rich film and enter-

tainment heritage. You can see handprints and footprints

of the stars at the TCL Chinese Theatre, which is said to

be one of the greatest theatres in the world, see the stars

on the Hollywood Walk of Fame, or visit the famous ce-

lebrity Hollywood Wax Museum. You can definitely find a

day’s work of activities that will give you the true experi-

ence of Hollywood and all it has to offer.

26

DEMOGRAPHICSDEMOGRAPHICS

HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES

2018 Estimate

$200,000 or More 2.82% 6.29% 7.04%

$150,000 - $199,999 2.31% 4.19% 4.61%

$100,000 - $149,000 7.88% 10.37% 10.97%

$75,000 - $99,999 9.61% 9.90% 10.10%

$50,000 - $74,999 16.11% 16.63% 15.57%

$35,000 - $49,999 13.97% 13.12% 12.00%

$25,000 - $34,999 11.97% 10.63% 9.84%

$15,000 - $24,999 16.65% 13.03% 12.55%

Under $15,000 18.68% 15.85% 17.31%

Average Household Income $58,195 $78,550 $81,950

Median Household Income $37,558 $46,500 $47,473

Per Capita Income $22,196 $34,055 $34,425

POPULATION 1 MILE 3 MILES 5 MILES

2023 ProjectionTotal Population

81,004 537,574 1,086,817

2018 EstimateTotal Population

81,495 535,636 1,077,921

2010 CensusTotal Population

77,097 507,617 1,019,933

2000 CensusTotal Population

83,958 538,894 1,041,309

Daytime Population2018 Estimate

66,509 462,911 1,228,890

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2023 ProjectionTotal Households

30,800 234,462 457,130

2018 EstimateTotal HouseholdsAverage (Mean) Household Size

30,402

2.62

230,024

2.29

444,513

2.35

2010 CensusTotal Households

28,470 215,363 414,533

2000 CensusTotal Households 28,440 214,547 402,170


DEMOGRAPHICSDEMOGRAPHICS

HOUSING UNITS 1 MILE 3 MILES 5 MILES

Occupied Units

2023 Projection 30,800 234,462 457,130

2018 Estimate 31,593 239,730 465,422

Owner Occupied 3,330 33,696 85,823

Renter Occupied 27,071 196,328 358,690

Vacant 1,191 9,706 20,909

Persons In Units

2018 Estimate Total Occupied Units 30,402 230,024 444,513

1 Person Units 31.90% 38.72% 38.43%

2 Person Units 25.67% 29.03% 28.15%

3 Person Units 15.74% 13.43% 13.19%

4 Person Units 13.28% 9.91% 10.03%

5 Person Units 7.40% 4.85% 5.25%

6+ Person Units 6.01% 4.06% 4.95%

POPULATION PROFILE 1 MILE 3 MILES 5 MILES

Population by Age

2018 Estimate Total Population 81,495 536,636 1,077,921

Under 20 20.51% 18.22% 19.43%

20 to 34 Years 27.77% 29.24% 28.59%

35 to 39 Years 8.07% 9.21% 8.59%

40 to 49 Years 14.36% 15.01% 14.51%

50 to 64 Years 17.83% 16.87% 16.91%

Age 65+ 11.48% 11.42% 11.98%

Median Age 36.02 36.29 36.09

Population 25+ by Educational Level

2018 Estimate Population Age 25+ 58,439 401,138 785,951

Elementary (0-8) 13.26% 9.84% 10.96%

Some High School (9-11) 11.01% 8.19% 8.89%

High School Graduate (12) 21.25% 17.28% 17.83%

Some College (13-15) 16.59% 16.16% 16.25%

Associate Degree Only 5.19% 5.74% 5.52%

Bachelors Degree Only 21.38% 28.73% 25.80%

Graduate Degree 6.75% 11.00% 11.22%

Population by Gender

2018 Estimate Total Population 81,495 535,636 1,077,921

Male Population 50.95% 51.12% 51.00%

Female Population 49.05% 48.88% 49.00%

28

A N D Y PA R KA N D Y PA R K

Multi-Housing / LandMulti-Housing / Land

Direct: (213) 943-1892 // Cell: (310)755-0345

[email protected]

License: CA 01946252

L E X Y O OL E X Y O O

Investment / DevelopmentInvestment / Development

Direct: (213) 943-1844 // Cell: (213) 537-9691

[email protected]


B R E N T K O OB R E N T K O O

Office / IndustrialOffice / Industrial

Direct: (213) 943-1846 // Cell: (213) 503-0606

[email protected]


Documents

5500 Barton vene - LoopNet...5500 Barton vene 13 PRICING DETAILS PRICE $2,050,000 Down Payment $1,025,000 Down Payment % 50% Number of Units 5 Gross Leasable Area (GLA) 2,875 SF Lot