Whitsett Apartments...The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations,

e x c l u s i v e m u lt i fa m i l y o f f e r i n g

15250 Ventura Blvd., Suite 100 Sherman Oaks, CA 91403

P: 818-986-9800 F: 818-933-0450

www.lee-associates.com

Lee & Associates® LA North/Ventura, Inc.

Corporate ID #01191898A Member of the Lee & Associates

Group of Companies

WARREN BERZACKNational Director, Lee Multifamily Advisory Group President, Berzack Investment Property Advisors

Lic. #01329015

[email protected]

Whitsett Apartments5325 Whitsett Ave., Valley Village, CA | 6 units

i n v e s t m e n t p r op e rt y a d v i s or sBERZACK

The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.

5325 Whitsett Avenue | Valley Village CA

Whitsett Apartments


PROPERTY DESCRIPTION

�Extremely Under-Market Rents with Tremendous Upside

�High Renter Demand Area

�Walk Score of 75: Very walkable

Whitsett Apartments is a charming, 6-unit apartment building located minutes from Studio City and North

Hollywood in the neighborhood of Valley Village. This extremely well-maintained garden-style property was built in 1952. It is comprised of 5,398 square feet on a 7,701-square-foot lot. It consists of four, one-bedroom, one-bath units and two, two bedroom, one bath units ranging in size from 775 square feet to 1,100 square feet.

LOCATION INFORMATION

�Close to many amenities

�Short drive to Ventura Boulevard

�Adjacent to Studio City

�Centrally located close to schools, parks, malls and other retailers

�Garage Parking (1 Space per Unit)

�Very Large Units

�Laundry Facilities

�Centrally Located Close To Schools, Shops, Restaurants and Retailers

Highlights Amenities

Whitsett Apartments is minutes from the Ventura (101) Freeway with Chandler Boulevard to the north, Magnolia Avenue to the south, Coldwater Canyon Avenue to the west and Laurel Canyon Boulevard to the east.



Whitsett Apartments


MULTIFAMILY INVESTMENT INFORMATION SHEET

PROPERTY NAME NUMBER OF UNITS 6 ADDRESS BUILDING SIZE (SQ. FT.) 5,398 CITY, STATE, ZIP LOT SIZE (SQ. FT.) 7,701 PRICE COST PER UNIT $282,500YEAR BUILT COST PER SQFT $314.01

□ Tremendous Rental Upside □ Well Maintained

RENTAL INFORMATIONUNIT BDRMS BATHS SQ. FT. Monthly Income

1 1 1 825 $1,381 $1,6952 1 1 775 $1,077 $1,6953 2 1 1,100 $2,178 $2,2954 1 1 825 $1,707 $1,6955 1 1 775 $1,395 $1,6956 2 1 1,100 $1,057 $2,295

Scheduled Monthly Income: $11,370

ANNUAL PROPERTY OPERATING DATACURRENT INCOME/YEAR

AS % GOI AS % GOI AS % GOIScheduled Gross Income $105,547 99.54% $136,440 99.65% Taxes (Est. 1.25%) $21,188 19.98%Other Income (SCEP/RSO) $333 0.31% $333 0.24% Insurance $2,160 2.04%Laundry $150 0.14% $150 0.11% Utilities $4,434 4.18%Gross Operating Income $106,030 CURRENT MARKET $136,923 Repairs/Maintanence ($1.50/ft) $8,097 7.64%Vacancy Reserve $3,181 3.00% $4,108 3.00% Management $0 0.00%Effective Gross Income $102,849 15.99 12.38 $132,816 Landscaping $1,800 1.70%Expenses $38,985 36.77% $38,985 28.47% Pest Control ($25/mo) $300 0.28%Net Operating Income $63,864 60.23% 3.77% 5.54% $93,830 68.53% License/Permits $407 0.38%Debt Service $47,099 $47,099 Miscellaneous($100/un) $600 0.57%Pre-Tax Cash Flow $16,765 1.98% 5.51% $46,731Principal Reduction $15,531 $15,531Return on Equity $32,295 3.81% 7.35% $62,262

MORTGAGE FINANCING INFORMATIONLoan Amount $847,500 Monthly Loan Payment $3,925Down Payment $847,500 50% Annual Loan Payment $47,099 TOTAL EXPENSES $38,985 36.77%5-Year Fixed Rate 3.75% Year 1 Interest Amount (approx.) $31,568Amortization Period (Yrs) 30 Year 1 Principal Paydown (approx.) $15,531 Expense / NRSF

Expense / Unit

[email protected] Lic. #01329015

GRM

□ Fantas�c Unit Mix

CAP Rate

$1,695,000

$7.22

ESTIMATED ANNUAL EXPENSES

1952

Valley Village, CA 91607

Current Income Market Income

MARKET INCOME/YEAR

$8,796

Monthly Income

$6,498

Lee Associates - LA North/Ventura, Inc.

Warren Berzack 818.933.0350

15250 Ventura Boulevard, Suite 100 | Sherman Oaks, CA 91403

Whitsett Apartments

INVESTMENT HIGHLIGHTS

Cash on Cash

5325 Whitsett Ave.

Return On Equity

The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.



Whitsett Apartments




Whitsett Apartments


# Address City # of Units Year Built 1+1 2+1 2+2

1 5140 Coldwater Canyon Sherman Oaks, CA 91423 14 1959 N/A $1,895 N/A

2 5336 Hermitage Ave. Valley Village, CA 91607 6 1953 N/A $1,700 N/A

3 12351 Riverside Dr. Valley Village, CA 91607 4 1952 N/A $1,995 N/A

4 5320 Whitsett Ave. Valley Village, CA 91607 12 1986 N/A N/A $2,195

5 12411 Magnolia Blvd. Valley Village, CA 91607 43 1974 N/A N/A $2,295

6 5340 Whitsett Ave. Valley Village, CA 91607 9 1985 N/A $2,195 N/A

7 12235 Magnolia Blvd. Valley Village, CA 91607 17 1983 $1,795 N/A N/A

8 5330 Corteen Place Valley Village, CA 91607 21 1963 $1,625 N/A N/A

9 5328 Hermitage Ave. Valley Village, CA 91607 22 1972 $1,699 N/A N/A

AVERAGES 16 1970 $1,706 $1,946 $2,245

SUBJECT 6 1952 $1,390 $1,670 N/A

RENT COMPARABLES

RENT COMPARABLES MAP



Whitsett Apartments


AREA INFORMATION

Valley Village is a small community that was carved out of North Hollywood as the neighborhood became more upscale and housing prices began to accelerate. The community sits between the chic, upscale neighborhood of Studio City to the south and North Hollywood, a community that is quickly becoming an entertainment industry center, to the north. Valley Village offers both families and singles the best of both worlds with quiet, tree-lined streets close to schools, groceries, restaurants and shops. • Schools… Los Angeles Valley College, is minutes away. Offering

a number of charter elementary and middle schools and several highly regarded private schools including Notre Dame High School and Harvard-Westlake are minutes away.

• Restaurants and Shopping… Westfield Fashion Square, anchored by Bloomingdale’s and Macy’s along with numerous independent shops that line Ventura Boulevard, the area’s high street. Restaurants for every taste from sushi to Mexican and French cuisine can also be found along Ventura Boulevard.

• Development… One of the largest developments in Los Angeles is underway in North Hollywood. The re-envisioning of what was a shopping mall will includes several hundred square feet of creative office space and retail along with apartments.

DEMOGRAPHIC SUMMARY

Total Population

Average Household Income

34,942

$101,129

623,708

$102,179

1-mile radius 5-mile radius

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Documents

Whitsett Apartments...The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations,