1151 north kingsley drive, los angeles, ca 90029€¦ · an eight-unit multifamily residential...

AN EIGHT-UNIT MULTIFAMILY RESIDENTIAL BUILDING IN LITTLE ARMENIA FOR SALE

1151 NORTH KINGSLEY DRIVE, LOS ANGELES, CA 90029

2

CONFIDENTIALITY & DISCLAIMERThe 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 substi-tute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or repre-sentation, 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 asbes-tos, 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 infor-mation 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 information 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 informa-tion 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 NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing pack-age. 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.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

4

BRENT KOOVice President InvestmentsDirect: (213) 943-1846 // Cell: (213) [email protected]: CA 01915382

LEX YOOVice President InvestmentsDirect: (213) 943-1844 // Cell: (213) [email protected]: CA 01879695

E X C L U S I V E L Y L I S T E D B Y

5

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

EXECUTIVE SUMMARY6

24

35

48

MAPS 12

31

42MARKET ANALYSIS

MARKET COMPARABLES

PROPERTY GALLERY

FINANCIAL ANALYSIS

DEMOGRAPHICS

EXECUTIVE SUMMARY


01

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap

7

T H E O F F E R I N G

Marcus & Millichap Downtown Los Angeles, as the Exclusive Listing Agent, proudly presents the opportunity to purchase 1151 North Kingsley Drive, a two-story Eight-unit multifamily residence located in the Little Armenia neighborhood of Los Angeles.

The subject property is a 7,358 Square Foot Eight-unit multi-family residential property on a 7,841 square foot site, built in 1931. The subject is located on a corner site of two residential streets, Kingsley Drive, in the East Hollywood Community of the City of Los Angeles, County of Los Angeles. As of the date of today, the subject was fully occupied by eight units.

The building is of wood frame/ stucco construction with a flat built-up composition roof. It consists of four one-bed/one-bath units on each floor, respectively. The interior layout of each unit consists of a living room, a kitchen, one bedroom, and one bath. Each unit is finished with interior partitions, wood, carpet, tile and vinyl flooring and a painted smooth plaster ceiling with nine feet long. The units on the second floor are accessible via two interior stairways in a middle portion of the building.

The offering showcases on-site parking with the detached garages for all eight units and a front yard shared among the tenants.

1151 NORTH KINGSLEY DRIVE, LOS ANGELESWALK SCORE

90

TRANSIT SCORE67

BIKE SCORE62

Walker’s Paradise

8

P R O P E R T Y D E S C R I P T I O N

Type Low-Rise Apartments

Asking Price $ 1,750,000 ($ 237.84 / SF)

Units 8

Stories 2

GBA 7,358 SF

Land SF 7,841 SF (0.18 AC)

Parking 8

Year Built 1931

Construction Wood Frame/Stucco (Class D)

Zoning LARD1.5

Parcel 5537-010-001

1151 NORTH KINGSLEY DRIVE, LOS ANGELES UNIT MIX

Floor Unit Type (1bed/1bath)

1st 4

2nd 4

Total 8

9

P R O P E R T Y H I G H L I G H T S

1151 NORTH KINGSLEY DRIVE, LOS ANGELES

Located in Qualified Opportunity Zone

Add ValueOpportunity

Surrounded by Nearby Develop-

ment Projects

On-Site Parking

Fully Occupied Property

Walking Distance to Dining, Entertain-ment, Public Trans-

portation

10

N E A R B Y N E I G H B O R H O O D S

LITTLE ARMENIA

From Armenian bakeries to colorful murals to the Church of Scientology, there’s no place quite like Little Armenia. From locally-owned restaurants to the brick-paved (and absolutely no parked cars) L. Ron Hubbard Way, every spot in Little Armenia is different -- and somewhat quirky. The Church of Scientology is located in the former Cedars of Lebanon Hospital, where celebrities like Lucille Ball and Judy Garland gave birth to future celebrities Desi Arnaz, Jr. and Liza Minnelli. Teetering between the glitz and glamour of Hollywood and the small-town feel of a close-knit community, it’s no wonder that Little Armenia is fast becoming Los Angeles’ newest “it” neighborhood.

Little Armenia is located in East Hollywood, starting along Hollywood Boulevard and extending south along the Hollywood Freeway to Santa Monica Boulevard. The neighborhood is surrounded by other unique neighborhoods like Thai Town (north), Los Feliz (northeast), and Silver Lake (southeast). Hollywood Boulevard and Sunset Boulevard both provide endless shopping and dining, with everything from coffee shops and pizza parlors to Thai and Armenian restaurants that attract people from all over Los Angeles.

11

EAST HOLLYWOOD

East Hollywood is a densely populated neighborhood of 78,000+ residents in the central region of Los Angeles, California. It is notable for being the site of Los Angeles City College, Barnsdall Park and a hospital district. There are seven public and five private schools, as well as a branch of the Los Angeles Public Library and three hospitals. Almost two-thirds of the people living there were born outside the United States and 90 percent were renters. In 2000 the neighborhood had high percentages of never-married people and of single parents.

Just east of Hollywood and just west of supremely hip Silver Lake, East Hollywood hails from somewhere between LA’s bastion of embedded stars and its outpost for artistic savants. Unpretentious and fastidiously unkempt, East Hollywood boasts neighborhood dive bars, streetside churro stands, and community fairs where sidewalk musicians make all the noise they want. East Hollywood is defined by its diversity—Thai town, Little Armenia, and a strong Hispanic community compose this neighborhood’s distinctive culture.

MAPS


02


13

A E R I A L M A P

14

A E R I A L M A P

N

15

A E R I A L M A P

16

S I T E M A P

N

17

F L O O R P L A N

18

L O C A L M A P

SUBJECT PROPERTYSUBJECT PROPERTY

19

R E G I O N A L M A P

LOS FELIZLOS FELIZ

SILVER LAKESILVER LAKE

KOREATOWNKOREATOWN

HOLLYWOODHOLLYWOOD

DOWNTOWNDOWNTOWN

ECHO PARKECHO PARK


20

M A R K E T O V E R V I E W

KINGSLEY KINGSLEY ELEMENTARY SCHOOLELEMENTARY SCHOOL

LAUNDRY I 4 SEASONLAUNDRY I 4 SEASONLAUNDROMATLAUNDROMAT

THE HOME DEPOTTHE HOME DEPOT FOOD 4 LESSFOOD 4 LESS

LITTLE ARMENIALITTLE ARMENIA

JONS FRESHJONS FRESHSUPER MARKETSUPER MARKET HOBART AUTO CENTERHOBART AUTO CENTER

HELEN BERNSTEIN HELEN BERNSTEIN HIGH SCHOOLHIGH SCHOOL

LA MIRADA PARKLA MIRADA PARK


Santa Monica BoulevardNorth

Kingsley D

rive

KINGSLEY MANOR KINGSLEY MANOR LOS ANGELESLOS ANGELES

RETIREMENT COMMUNITYRETIREMENT COMMUNITY

North Kingsley Drive

HYEHYEPHARMARCYPHARMARCY

TACOTACOBELLBELL

21

HOLLYWOODHOLLYWOOD

TACOTACOBELLBELL

MCDONALD’SMCDONALD’S

JONS FRESHJONS FRESHSUPER MARKETSUPER MARKET

JOSEPH LE CONTE JOSEPH LE CONTE MIDDLE SCHOOLMIDDLE SCHOOL

THE HOME DEPOTTHE HOME DEPOT

SUBJECTSUBJECT PROPERTY PROPERTY

Santa Monica Boulevard

WINGSTOPWINGSTOP

North Kingsley Drive

22

O P P O R T U N I T Y Z O N E S

SUBJECT PROPERTY

23

TemporaryDeferral

Step-UpIn Basis

Permanent Exclusion

A temporary deferral of in-clusion in taxablen income for capital gains reinvested into an Opportunity Fund. The deferred gain must berecognized on the earlier of the date on which the op-portunity zone investment is disposed of or December 31, 2026.

A step-up in basis for capi-tal gains reinvested in an Opportunity Fund. The basis is increased by 10% if the in-vestment in the Opportunity Fund is held by the taxpayer for at least 5 years and by an additional 5% if held forat least 7 years, thereby excluding up to 15% of the original gain from taxation.

A permanent exclusion from taxable income of capital gains from the sale or ex-change of an investment in an Opportunity Fund if the investment is held for at least 10 years. This exclusion only applies to gains ac-crued after an investment in an Opportunity Fund.

Opportunity Zones Tax Incentive Information

Opportunity Zones are new incentives for investing in low-income communities. Opportunity Zones programs offer three tax incentives through a qualified Opportunity Fund.

The Opportunity Zones program is designed to incentivize patient capital investments in low-income communi-ties nationwide. All the underlying incentives relate to the tax treatment of capital gains, and all are tied to the longevity of an investor’s stake in a qualified Opportunity Fund, providing the most upside to those who hold their investment for 10 years or more.

PROPERTY GALLERY


03


25

P H O T O S

26

P H O T O S

28

P H O T O S

29

I N S I D E P H O T O S

P H O T O S

30

31

FINANCIAL ANALYSIS


04


F I N A N C I A L S U M M A R Y

FINANCIAL INDICATORS

Price $1,750,000

Down Payment 50% / $875,000

Number of Units 8

Price/Unit $218,750

Gross Square Feet 7,358 SF

Price/Gross SF $237.84/SF

CAP Rate - Current 2.82%

GRM - Current 18.24

CAP Rate - Pro Forma 7.39%

GRM - Pro Forma 9.70

Year Built 1931

Lot Size 7,841 SF (0.18AC)

Zoning LARD1.5

Type Ownership Fee Simple

32

33

R E N T R O L L

SUITE NO. UNIT MIX STATUS UNIT SIZE CURRENT RENTS RENT/SF MARKET RENTS RENT/SF LOSS-TO-LEASE

1 1+1 Occupied 900 SF $555.71 $0.62 $1,800.00 $2.00 $1,244.00

2 1+1 Occupied 900 SF $752.97 $0.84 $1,800.00 $2.00 $1,047.00

3 1+1 Occupied 860 SF $1,265.92 $1.47 $1,720.00 $2.00 $454.00

4 1+1 Occupied 960 SF $786.26 $0.82 $1,920.00 $2.00 $1,134.00

5 1+1 Occupied 930 SF $1,147.77 $1.23 $1,860.00 $2.00 $712.00

6 1+1 Occupied 930 SF $1,606.80 $1.73 $1,860.00 $2.00 $253.00

7 1+1 Occupied 860 SF $1,117.62 $1.30 $1,720.00 $2.00 $602.00

8 1+1 Occupied 960 SF $760.83 $0.79 $1,920.00 $2.00 $1,159.00

MONTHLY TOTAL Total 7,358 SF $7,993.88 $14,600.00 $6,605.00

ANNUAL TOTAL $95,927.00 $175,200.00 $79,273.00

* Buyer must verify the accuracy of all figures independently.

I N C O M E & E X P E N S E S

INCOME CURRENT PRO FORMA

Gross Current Rent $ 95,927.00 $180,456.00

Less: Vacancy/Collection Allowance (GPR) $5,000 $ 5,414

Effective Rental Income $ 90,927.00 $ 175,042.00

Total Other Income 0 0

Effective Gross Income $ 90,927.00 $ 175,042.00

EXEPENSES CURRENT PRO FORMA

Real Estate Taxes $ 20,825.00 $ 20,825.00

Insurances $ 3,300.00 $ 3,465.00

Utilities $ 4,000.00 $ 4,200.00

Trash Removal $ 2,000.00 $ 2,100.00

Repairs&Maintenance $ 3,463.00 $ 3,636.00

Misc. Expenses $ 4,329.00 $ 4,545.00

Management Fee $ 3,637.00 $ 7,002.00

Total Operating Expenses $ 41,554.00 $45,773.00

Expenses per Unit $ 5,194.25 $ 5,721.63

Expenses per SF $ 5.69 $ 6.27

% of EGI 45.70% 26.10%

34

Net Operating Income $49,372.00 $129,269.00

*Expenses based upon market averages. Actual expenses available upon request.

MARKET COMPARABLES


05


36

S A L E S C O M P A R A B L E S

37


SALES PRICE $1,750,000Sale Date N/A

Number of Units 8

Year Built 1931

Price per Unit $218,750

Price per SF $237.84

Average Unit Size 920 SF

CAP Rate 2.82%

GRM 18.24

SOLD PRICE $1,925,000Sale Date 02/16/2017

Number of Units 8

Year Built 1926




CAP Rate 2.73%

GRM 20.32

UNIT MIX1 Bed / 1 Bath 8


1 Bed / 1 Bath 1

Studio 1

1151 NORTH KINGSLEY DRIVE, LOS ANGELES, CA

1331-1333 NORTH EDGEMONT STREET, LOS ANGELES, CA

38


Number of Units 12

Year Built 1923




CAP Rate 2.81%

GRM 18.43


Number of Units 8

Year Built 1937




CAP Rate 3.12%

GRM 18.43

UNIT MIX1 Bed / 1 bath 12


626-632 NORTH WILTON PLACE, LOS ANGELES, CA

5007 INSTITUTE PLACE,LOS ANGELES, CA


39



Number of Units 8

Year Built 1928


Price per SF $451,59


CAP Rate N/A

GRM N/A


Number of Units 7

Year Built 1921




CAP Rate 4.53%

GRM 15.63

UNIT MIXStudio 2

1 Bed / 1 Bath 2

2 Beds /1 Bath 4


2 Beds / 1 Bath 2

1181-1185 NORTH VIRGIL AVENUE, LOS ANGELES, CA

1127 NORTH WESTMORELAND AVENUE, LOS ANGELES, CA

40

R E N T C O M P A R A B L E S

41

# PROPERTY ADDRESS YEAR BUILT

NUMBER OF UNITS UNIT TYPE AVERAGE

UNIT SF AVERAGE RENT RENT/SF

1151 North Kingsley Drive 1931 8 1 Bed /1 Bath 920 $999 $1.09

1163 North Kingsley Drive 1924 2 1 Bed /1 Bath 981 $2,050 $2.09

5322 Virginia Avenue 1958 6 1 Bed /1 Bath 500 $1,620 $2.81

5217 Virginia Avenue 1925 8 1 Bed /1 Bath 500 $1,540 $2.74

1144 North Normandie Avenue 1929 12 1 Bed /1 Bath 650 $1,527 $2.35

1213 North Ardmore Avenue 1926 7 1 Bed /1 Bath 650 $1,441 $2.21

R E N T C O M P A R A B L E S

MARKET ANALYSIS


06


43

AVAILABILITY PROPERTY SUBMARKET 1-3 STAR SUBMARKET

Vacancy Rate 0% 2.3% 2.4%

Vacant Units 0 762 770

Market Asking Rent/Unit - $1,542 $1,555

Market Effective Rent/Unit - $1,535 $1,548

Concession Rate - 0.4% 0.4%

Studio Asking Rent - $1,232 $1,240

1 Bedroom Asking Rent - $1,470 $1,475



SALES PROPERTY SUBMARKET 1-3 STAR SUBMARKET

Market Sale Price/Unit $207 K $268 K $270 K

12 Month Asking Sale Price/Unit - $282 K $282 K

12 Month Sale to Asking Price Diff - -2.7% -2.7%

Market Cap Rate 4.8% 4.5% 4.5%

12 Month Sales Volume - $310 M $340 M

12 Month Properties Sold - 131 132

Months To Sale Past Year - 4.0 4.0

For Sale Listings 0 20 20

For Sale Units 0 226 226

INVENTORY PROPERTY SUBMARKET 1-3 STAR SUBMARKET

Inventroy Units 8 32,644 32,773

Existing Buildings 1 2,382 2,384

Ave Units Per Bldg 8 14 14

12 Month Demolished Units - 0 0

12 Month Occ % At Delivery - - -

Under Construction Units - 52 119

12 Month Construction Starts Units - 5 5

12 Month Delivered Units - 0 0

12 Month Avg Delivered Units - - -

DEMAND PROPERTY SUBMARKET 1-3 STAR SUBMARKET

12 Month Absorption Units 0 83 82

12 Month Abosorption % of Inv 0% 0.3% 0.3%

Avg Household Income $70.4 K - $69.2 K

Population Growth 5 Yrs 1.7% - 0.5%

Pop Growth 5 Yrs 20-29 -21.5% - -19.9%

Pop Growth 5 Yrs 30-39 -10.6% - -9.5%

Pop Growth 5 Yrs 40-54 5.0% - 3.1%

Pop Growth 5 Yrs 55+ 14.7% - 10.9%

A N A L Y S I S S U M M A R Y

44


Vacancy Rate

Occupancy Rate

Vacancy Rate By Bedroom

Market Rent Per Unit

45

Market Rent Per Unit & Rent Growth

Market Asking Rent Per SF

Market Rent Per Unit By Bedroom

Market Asking Rent Per SF By Bedroom

46


Market Effective Rent Per Unit

Market Effective Rent Per SF

Market Effective Rent Per Unit By Bedroom

Market Effective Rent Per SF By Bed-room

47

Concession Rate

Sales Volume & Market Sale Price Per Unit

Daily Asking Rent Per SF

Market Cap Rate

DEMOGRAPHICS


07


49

D E M O G R A P H I C S

POPULATION 1 Miles 3 Miles 5 Miles 2023 Projection

Total Population 92,523 497,330 1,088,671

2018 Estimate


2010 Census


2000 Census


Daytime Population

2018 Estimate 82,026 427,691 1,219,619

HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2023 Projection

Total Households 36,018 213,624 455,607

2018 Estimate


Average (Mean) Household Size 2.53 2.33 2.35

2010 Census


2000 Census


Growth 2015-2020 1.31% 1.77% 2.95%

HOUSING UNITS 1 Miles 3 Miles 5 Miles Occupied Units

2023 Projection 36,018 213,624 455,607

2018 Estimate 36,680 219,020 463,291

Owner Occupied 2,473 32,688 83,608

Renter Occupied 33,079 177,229 358,964

Vacant 1,128 9,103 20,718

Persons In Units

2018 Estimate Total Occupied Units 35,552 209,917 442,572

1 Person Units 34.22% 37.99% 38.23%

2 Person Units 25.98% 28.74% 28.16%

3 Person Units 14.88% 13.62% 13.36%

4 Person Units 12.51% 10.21% 10.20%

5 Person Units 6.88% 5.11% 5.22%

6+ Person Units 5.52% 4.33% 4.83%

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2018 Estimate

$200,000 or More 1.95% 6.01% 6.72%

$150,000 - $199,000 2.05% 4.00% 4.56%

$100,000 - $149,000 7.26% 10.08% 10.94%

$75,000 - $99,999 9.45% 9.85% 10.05%

$50,000 - $74,999 16.18% 16.56% 15.61%

$35,000 - $49,999 13.71% 13.17% 12.02%

$25,000 - $34,999 11.78% 10.91% 9.92%

$15,000 - $24,999 16.82% 13.43% 12.68%

Under $15,000 20.81% 15.99% 17.50%

Average Household Income $53,404 $76,682 $80,325

Median Household Income $35,562 $45,452 $46,930

Per Capita Income $21,010 $32,743 $33,593

POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age

2018 Estimate Total Population 93,071 496,658 1,078,549

Under 20 19.54% 18.55% 18.94%

20 to 34 Years 28.52% 28.84% 28.64%

35 to 39 Years 7.93% 9.12% 8.64%

40 to 49 Years 13.95% 15.04% 14.62%

50 to 64 Years 17.94% 16.98% 17.07%

Age 65+ 12.12% 11.49% 12.11%

Median Age 36.15 36.35 36.33

Population 25+ by Education Level

2018 Estimate Population Age 25+ 67,688 370,395 791,888

Elementary (0-8) 12.74% 10.51% 10.88%

Some High School (9-11) 10.94% 8.34% 9.07%

High School Graduate (12) 21.40% 17.53% 17.97%

Some College (13-15) 16.75% 16.19% 16.27%

Associate Degree Only 5.75% 5.78% 5.69%

Bachelors Degree Only 21.30% 27.83% 25.63%

Graduate Degree 6.79% 10.59% 10.90%

Population by Gender

2018 Estimate Total Population 93,071 496,658 1,078,549

Male Population 50.51% 51.41% 51.42%

Female Population 49.49% 48.59% 48.58%

50

D E M O G R A P H I C S

In 2018, the population in your selected geography is 93,071. The population has changed by -3.93% since 2000. It is estimated that the population in your area will be 92,523.00 five years from now, which represents a change of -0.59% from the current year. The current population is 50.51% male and 49.49% female. The median age of the population in your area is 36.15, compare this to the US average which is 37.95. The population density in your area is 29,620.60 people per square mile.

There are currently 35,552 households in your selected geography. The number of households has changed by 5.69% since 2000. It is estimated that the number of households in your area will be 36,018 five years from now, which represents a change of 1.31% from the current year. The average household size in your area is 2.53 persons.

In 2018, the median household income for your selected geography is $35,562, compare this to the US average which is currently $58,754. The median household income for your area has changed by 60.49% since 2000. It is estimated that the median household income in your area will be $40,227 five years from now, which represents a change of 13.12% from the current year. The current year per capita income in your area is $21,010, compare this to the US average, which is $32,356. The current year average household income in your area is $53,404, compare this to the US average which is $84,609.

POPULATION

HOUSEHOLDS

INCOME

51

The current year racial makeup of your selected area is as follows: 46.28% White, 3.39% Black, 0.10% Native American and 16.21% Asian/Pacific Islander. Compare these to US averages which are: 70.20% White, 12.89% Black, 0.19% Native American and 5.59% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 54.55% of the current year population in your selected area. Compare this to the US average of 18.01%.

The median housing value in your area was $591,354 in 2018, compare this to the US average of $201,842. In 2000, there were 2,506 owner occupied housing units in your area and there were 31,132 renter occupied housing units in your area. The median rent at the time was $530.

In 2018, there are 22,478 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 46.41% of employees are employed in white-collar occupations in this geography, and 53.48% are employed in blue-collar occupations. In 2018, unemployment in this area is 6.01%. In 2000, the average time traveled to work was 36.00 minutes.

RACE AND ETHNICITY

HOUSING

EMPLOYMENT

52LEX YOO & BRENT KOO


1151 north kingsley drive, los angeles, ca 90029€¦ · an eight-unit multifamily residential...

Documents