offering memorandum · city of los angeles 13,708 southern california / hawa reg 13,116 u s c 8,634...

149 N ALEXANDRIA AVE149 N Alexandria Ave • Los Angeles, CA 90004

Offering Memorandum

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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and 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 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

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 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. Â© 2017 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 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.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

149 N ALEXANDRIA AVE

Los Angeles, CA

ACT ID Y0121434

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INVESTMENT

OVERVIEW


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EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Sheriffs Dept 16,944

City of Los Angeles 13,708

Southern California / Hawa Reg 13,116

U S C 8,634

Police Dept 8,306

Chief Executive Office 7,309

Cedars-Sinai Medical Center 5,311

Dodger Stadium 5,154

Mtv Networks 5,001

County of Los Angeles 4,846

Ticketmaster Entertainment LLC 4,390

Califrnia Dept State Hospitals 4,000

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 107,113 615,142 1,175,251

2017 Census Pop 102,381 585,011 1,113,398

2017 Estimate HH 40,749 240,757 458,102

2017 Census HH 38,705 227,251 429,694

Median HH Income $36,951 $38,083 $40,689

Per Capita Income $19,693 $25,935 $28,286

Average HH Income $51,291 $65,394 $70,896

UNIT MIX

NUMBEROF UNITS

UNIT TYPEAPPROX.SQUARE FEET

6 One Bedroom/ One Bathroom

1 Two Bedroom/ One and Half Bathroom

7 Total 4,145

VITAL DATA

Price $1,824,000 CURRENT YEAR 1

Loan Amount $1,003,200 CAP Rate 4.10% 5.88%

Loan Type Proposed New GRM 15.98 12.36

Interest Rate / Amortization 4.00% / 30 YearsNet Operating Income

$74,735 $107,199

Price/Unit $260,571Net Cash Flow After Debt Service

2.10% / $17,262 6.06% / $49,726

Price/SF $440.05 Total Return 4.26% / $34,929 8.30% / $68,112

Number of Units 7

Rentable Square Feet 4,145

Year Built 1988

Lot Size 0.14 acre(s)

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OFFERING SUMMARY

▪ Non-Rent Control

▪ Drought Resistant Landscaping

▪ Ample Parking

INVESTMENT HIGHLIGHTS

Marcus & Millichap, as the exclusive listing agent, is pleased to present a seven-unit multifamily property located on Alexandria Avenue, in between Beverly Boulevard and

1st Street. Built in 1988, this asset is not subject to rent control; and with a desirable unit mix of six one-bedroom/one-bathroom units and one two-bedroom/one-and-a-half-

bathroom unit, it is highly desirable for those looking to quickly capitalize on a substantial rental upside. Tenant amenities include drought-resistant landscaping, new

windows, and ample parking to the rear of the property.

Boasting a walk score of 85 and an excellent transit score, this property is a short walk to the Vermont/Beverly Metro Station. Not only does this allow accessibility and

convenience for those looking to connect to the rest of Los Angeles, it is a short distance to vibrant local attractions such as DTLA, Dodger Stadium, LA Live and the Griffith

Park Observatory among others.

149 North Alexandria Avenue is a stellar opportunity, as an investor can purchase a well located asset with a tremendous value-add component by bringing the rents to

market in a rapidly gentrifying pocket of Los Angeles, where rent growth is expected to continue to rise as tenants are priced out of the surrounding pockets.

INVESTMENT OVERVIEW

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OFFERING SUMMARY

PROPERTY OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to present a seven-unit multifamily property located

on Alexandria Avenue, in between Beverly Blvd & 1st St. Built in 1988, this asset is not subject to rent control; and

with a desirable unit mix of six 1-bedroom/1-bathroom units & one 2-bedroom/1.5-bathroom units, it is highly

desirable for those looking to quickly capitalize on a substantial rental upside. Tenant amenities include drought-

resistant landscaping, new windows, and ample parking to the rear of the property.

Boasting a walk score of 85 and an excellent transit score, this property is a short walk to the Vermont/Beverly

Metro Station. Not only does this allow accessibility and convenience for those looking to connect to the rest of Los

Angeles, it is a short distance to vibrant local attractions such as DTLA, Dodger Stadium, LA Live & the Griffith

Park Observatory among others.

149 N Alexandria Ave is a stellar opportunity, as an investor can purchase a well located asset with a tremendous

value-add component by bringing the rents to market in a rapidly gentrifying pocket of Los Angeles, where rent

growth is expected to continue to rise as tenants are priced out of the surrounding pockets.

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REGIONAL MAP


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LOCAL MAP


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AERIAL PHOTO


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Marcus & Millichap closes

more transactions than any other

brokerage firm.

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PROPERTY PHOTO

FINANCIAL ANALYSIS


RENT ROLL SUMMARY

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FINANCIAL ANALYSIS


PRICING DETAIL

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JOSHUA ROSS ELI APPELSenior Vice President Investments

Director - National Multi Housing Group

Encino Office

Tel: (818) 212-2696

Fax: (310) 598-1980

[email protected]

License: CA 01918715

Senior Associate

National Multi Housing Group

Encino Office

Tel: (818) 212-2707

Fax: (818) 961-0917

[email protected]

License: CA 01918652

offering memorandum · city of los angeles 13,708 southern california / hawa reg 13,116 u s c 8,634...

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