20%+ rental upside apartment buildingimages3.loopnet.com/d2/bbj2zh69ajmdadjcu63i53... · upside in...
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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 100Sherman 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
20%+ Rental Upside Apartment BuildingTroost Apartments
6722 Troost Avenue, North Hollywood, CA 91606 | 10 units
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
SLAVIC ZLATKINPrincipal
Lic. #01483230
WARREN BERZACKPrincipal
Lic. #01329015
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.
6722 Troost Avenue | North Hollywood CA
TR O O S T APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
PROPERTY DESCRIPTION
Upside in Rents
Great Unit Mix
Easy Access to Freeways
Great Location
Public Transporation Nearby
Troost Apartments is a well built 10-unit apartment building located in North Hollywood, California. Set on
a 7,802 square foot lot, the 6,766 square foot property off ers studio, singles, one- and two-bedroom apartment homes. Built in 1964, the property off ers great rental upside, in an excellent rental market, low maintenance, and easy freeway access.
LOCATION INFORMATION
Easy Access to 170, 101, 134 & 5 Freeways
Nearby to multiple parks, schools, churches and temples
Minutes from Target, Smart & Final Extra, Kmart, Home Depot; Popeyes Louisiana Kitchen, Starbucks and myriad other retail off erings
Covered and Gated Parking
Gated Entry
On-Site Laundry Facilities
Low Maintenance
Close to Major Th oroughfares
An Excellent Rental Market
Highlights & Amenities
Troost Apartments is located along the east side of Troost Avenue between Vanowen Street north and Kittridge Street south, just east of Lankershim Blvd and west of Tujunga Avenue.
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.
6722 Troost Avenue | North Hollywood CA
TR O O S T APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
MULTIFAMILY INVESTMENT INFORMATION SHEET
PROPERTY NAME NUMBER OF UNITS 10
ADDRESS BUILDING SIZE (SQ. FT.) 6,766
CITY, STATE, ZIP LOT SIZE (SQ. FT.) 7,802
PRICE COST PER UNIT $155,000
YEAR BUILT COST PER SQFT $229.09
Great Rental Upside Low Maintenance
RENTAL INFORMATIONNO. UNITS BDRMS BATHS SQ. FT. AVG. RENT RENT Monthly Income
2 0 1 Studio $871 $1,742 $950 $1,9002 0 1 Single $891 $1,781 $950 $1,9003 1 1 $1,022 $3,067 $1,195 $3,5853 2 2 $1,152 $3,457 $1,450 $4,350
Scheduled Monthly Income: $11,735
ANNUAL PROPERTY OPERATING DATACURRENT INCOME/YEAR
AS % GOI AS % GOI AS % GOI
Scheduled Gross Income $120,573 97.38% $140,820 97.35% Taxes (Est. 1.20%) $18,600 15.02%Garage Income (proforma) $1,800 1.45% $2,400 1.66% Insurance $2,880 2.33%Laundry Income (actual) $1,440 1.16% $1,440 1.00% DWP $9,900 8.00%Gross Operating Income $123,813 CURRENT MARKET $144,660 Repairs/Maintanence $6,191 5.00%Vacancy Reserve $3,714 3.00% $4,340 3.00%Effective Gross Income $120,099 12.52 10.71 $140,320 Management $0 0.00%Expenses $43,413 35.06% $43,413 30.01% Pest Control ($35/mo) $420 0.34%Net Operating Income $76,686 61.94% 4.95% 6.25% $96,907 66.99% Cleaning $1,680 1.36%Debt Service $49,524 $49,524 Miscellaneous($100/un) $1,000 0.81%Pre-Tax Cash Flow $27,162 4.01% 6.99% $47,383 Trash ($172/mo) $2,064 1.67%Principal Reduction $18,324 $18,324 License/Permits $678 0.55%Return on Equity $45,486 6.71% 9.69% $65,707
ASSUMABLE CHASE MORTGAGE INFORMATION
Loan Amount $871,880 Monthly Loan Payment $4,127Down Payment $678,120 44% Annual Loan Payment $49,524 TOTAL EXPENSES $43,413 35.06%5-Year Fixed Rate 3.57% Year 1 Interest Amount (approx.) $31,200Amortization Period (Yrs) 30 Year 1 Principal Paydown (approx.) $18,324 Expense / NRSF
Expense / UnitASSUMABLE CHASE LOAN
MARKET INCOME/YEAR
$10,048
Return On Equity
GRM
CAP Rate
6722 Troost Ave.
[email protected] Lic. #01329015
Slavic Zlatkin [email protected]
$4,341$6.42
ESTIMATED ANNUAL EXPENSES
Cash on Cash
Market Income
$1,550,000
INVESTMENT HIGHLIGHTS
Lee Associates - LA North/Ventura, Inc.
Warren Berzack 818.933.0350
15250 Ventura Boulevard, Suite 100 | Sherman Oaks, CA 91403
Troost Apartments
1964
Current Income
Excellent Rental Market
North Hollywood, CA 91606
Monthly Income
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6722 Troost Avenue | North Hollywood CA
TR O O S T APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
Unit Type Rent as of 4/1/18
1 Single 827.50$ 2 2+2 1,293.03$ 3 1+1 1,195.00$ 4 Single 953.61$ 5 2+2 1,170.60$ 6 1+1 939.98$ 7 Studio 788.70$ 8 1+1 932.42$ 9 2+2 993.31$
10 Studio 953.61$ Garage (proforma) 150.00$
Total: 10,197.76$
Annual Rent: 122,373.12$
RENT ROLL
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.
6722 Troost Avenue | North Hollywood CA
TR O O S T APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
AREA INFORMATION
DEMOGRAPHIC SUMMARY
Total Population
Average Household Income
39,609
$54,810
684,134
$85,634
1-mile radius 5-mile radius
North Hollywood is a neighborhood in the San Fernando Valley region of the city of Los Angeles, California. It is home to the NoHo Arts District and the Academy of Television Arts & Sciences. It is a moderately diverse district of an estimated 87,241 residents fast becoming a dynamic, bustling metropolitan area. This is owed in large part to the Metro Stations for the Red Line and Orange Line, making the city into a regional hub for the San Fernando Valley. Also, numerous medium- and high-density developments are around the station, particularly in the NoHo Arts District, creating a walkable, urban village.
• Arts and Leisure at its best… Numerous theaters, museums and historical sites as well as fi ne dining, shopping and recreational opportunities
• NoHo Arts District… Renowned as Los Angeles’ offi cial arts comunity, centered at Magnolia and Lankershim.
• Endless recreational activities… Home to the Academy of Television Arts and Sciences and the world-famous Emmy statue.
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.
6722 Troost Avenue | North Hollywood CA
TR O O S T APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
AERIAL MAP
SITE PLAN
Troost AveTroost Ave
Troost AveTroost Ave
Archwood St
Archwood St
Archwood St
Archwood St
Irvine AveIrvine Ave
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.
6722 Troost Avenue | North Hollywood CA
TR O O S T APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
AMENITIES AERIAL