15919 Vanowen St. Van Nuys, CA 91406

Cindy Hill, CCIMSenior Vice President818.846.1611cindyhill@kw.com

4061 Laurel Canyon Blvd.Studio City, CA 91604www.valleyapartmentsales.com

PROPERTY HIGHLIGHTSClean 9 unit building in excellent Lake Balboa rental pocket.●

Excellent unit mix of one and two bedroom units. Numerousupgrades including newer windows and copper plumbing

●

Units feature dishwashers, built in ovens, cooktops, and tiledkitchens, dining rooms and bathrooms

●

Tremendous upside in existing rents-over 40% rental upside●

On site laundry and covered parking ●

Prepared By

INVESTMENT DETAILSVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

ANALYSIS

Analysis Date November 2018

PROPERTY

Property 15919 Vanowen St.

Property AddressVan Nuys, CA 91406

Year Built 1962

FINANCIAL INFORMATION

All Cash

PURCHASE INFORMATION

Property Type MultiFamily

Purchase Price $1,649,000

Units 9

Total Rentable Sq. Ft. 6,450

LOANS

Type Debt Term Amortization Rate Payment LO Costs

All Cash

INCOME & EXPENSES

Gross Operating Income $110,608

Monthly GOI $9,217

Total Annual Expenses ($40,478)

Monthly Expenses ($3,373)

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PRO FORMA SUMMARYVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

INCOME

Description Actual Per Unit Market Per Unit

Gross Potential Rent $113,040 $12,560 $160,200 $17,800

Less: Vacancy ($3,391) ($377) ($4,806) ($534)

Misc. Income $960 $107 $960 $107

Effective Gross Income $110,608 $12,290 $156,354 $17,373

OPERATING EXPENSES

Description Actual Per Unit Market Per Unit

Trash $2,676 $297 $2,676 $297

Misc. $1,500 $167 $1,500 $167

Repairs $4,500 $500 $4,500 $500

Gardener $1,200 $133 $1,200 $133

Pest $600 $67 $600 $67

Utilities $6,810 $757 $6,810 $757

Property Taxes $20,612 $2,290 $20,612 $2,290

Insurance $2,580 $287 $2,580 $287

Total Expenses ($40,478) ($4,498) ($40,478) ($4,498)

NET OPERATING INCOME $70,130 $7,792 $115,876 $12,875

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PRO FORMA SUMMARYVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

UNIT MIX & MONTHLY SCHEDULED

Type Units Actual Total Market Total 1+1 6 $973 $5,837 $1,400 $8,4002+1 3 $1,194 $3,583 $1,650 $4,950TOTALS 9 $9,420 $13,350

ANNUALIZED INCOME Description Actual Market

Gross Potential Rent $113,040 $160,200Less: Vacancy ($3,391) ($4,806)Misc. Income $960 $960Effective Gross Income $110,608 $156,354Less: Expenses ($40,478) ($40,478)Net Operating Income $70,130 $115,876

ANNUALIZED EXPENSES Description Actual Market

Trash $2,676 $2,676Misc. $1,500 $1,500Repairs $4,500 $4,500Gardener $1,200 $1,200Pest $600 $600Utilities $6,810 $6,810Property Taxes $20,612 $20,612Insurance $2,580 $2,580Total Expenses $40,478 $40,478Expenses Per RSF $6.28 $6.28Expenses Per Unit $4,498 $4,498

INVESTMENT SUMMARY

Price: $1,649,000

Year Built: 1962

Units: 9

Price/Unit: $183,222

RSF: 6,450

Price/RSF: $255.66

Lot Size: 8,517 sf

Floors: 2

APN: 2224-028-042

Cap Rate: 4.25%

Market Cap Rate: 7.03%

GRM: 14.46

Market GRM: 10.23

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PROPERTY DESCRIPTIONVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

9 Units with tremendous upside | Desirable rental pocket      KW Commercial is proud to represent the clean nine-unit apartment building in Van Nuys.             The property was constructed in 1962. Its unit mix consists of (6) one-bedroom, one-bathroom units and (3) two-bedroom, one-bathroom units. They all feature dishwashers, built-in ovens, and cooktops; the kitchens, dining rooms,and bathrooms are tiled. The property has new windows and copper plumbing. With a lot size of 8,517 square feet, theproperty has a total of 6,450 rentable square feet.

       The property is situated in a highly desirable rental pocket within Van Nuys, called Lake Balboa. The surroundingarea features established residential tree-lined neighborhoods, and a variety of shopping centers and restaurants. Theapartment is situated near the heart of Van Nuys courthouse, post office, and police station, Costco & Target, with closeaccess to the 405, 101, and 170 freeways. Ventura Blvd. is just minutes away with all of its restaurants and shoppingwhile the Metrolink transportation services allows easy access to Sherman Oaks, Woodland Hills, Burbank, Hollywood,and downtown Los Angeles.              The property is separately metered for electricity.

    

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EXECUTIVE SUMMARYVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Acquisition Costs

Purchase Price, Points and Closing Costs $1,649,000

Investment - Cash $0

Investment Information

Purchase Price $1,649,000

Price per Unit $183,222

Price per Sq. Ft. $255.66

Income per Unit $12,667

Expenses per Unit ($4,498)

Income, Expenses & Cash Flow

Gross Scheduled Income $114,000

Total Vacancy and Credits ($3,391)

Operating Expenses ($40,478)

Net Operating Income $70,130

Debt Service $0

Cash Flow Before Taxes $70,130

Financial Indicators

Debt Coverage Ratio N/A

Capitalization Rate 4.25%

Gross Rent Multiplier 14.46

Gross Income / Square Feet $17.67

Gross Expenses / Square Feet ($6.28)

Operating Expense Ratio 36.60%

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UNIT RENT ROLLVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Unit Description Current Rent Pro Forma Rent Comments

1 2+1 $1,140 $1,650 Section 8

2 1+1 $1,300 $1,400  

3 1+1 $976 $1,400 Section 8

4 1+1 $900 $1,400  

5 2+1 $1,390 $1,650 Section 8

6 1+1 $980 $1,400  

7 1+1 $1,400 $1,400  

8 1+1 $580 $1,400  

9 2+1 $1,053 $1,650 Section 8

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UNIT MIX REPORTVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly

6 1+1 0 $973 $5,837 $1,400 $8,4003 2+1 0 $1,194 $3,583 $1,650 $4,9509 0 $9,420 $13,350

UNIT MIX UNIT MIX SQUARE FEET

● 1+1

● 2+1

● 1+1

● 2+1

UNIT MIX INCOME UNIT MIX MARKET INCOME

● 1+1

● 2+1

● 1+1

● 2+1

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PROPERTY PHOTOSVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Clean nine unit buildingLake Balboa rental pocket

Front view Nicely landscaped

Hardwood Floors & Tiled Kitchens Newer stairs

Covered parking Covered parking with onsite laundry

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PROPERTY PHOTOS

15919 Vanowen St. Van Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

15919 Vanowen St.

Hardwood Livingroom & Tiled Kitchen Rennovated Countertops

Naturally-lit, Hardwood Livingroom Rennovated, Fully Furnished Kitchen

Carpeted Bedroom, with Closet Modern, Tiled Bathroom

MAPS AND AERIALSVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

9 Units in Lake BalboaLocated West of the 405 freeway

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City of Van Nuys

www.ValleyApartmentSales.com

Van Nuys’ features established, tree‐lined neighborhoods and a variety of

shopping centers and restaurants. The city itself is centrally located, with

easy access to public transporta on and freeways— including the 405,

101, and 170 freeways— linking its residents to Sherman Oaks, Woodland

Hills, Burbank, Hollywood, and downtown Los Angeles.

SALE COMPARABLESVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Subject 1 2 3 5 6 8 9

1%

2%

3%

4%

5%

6%

7%

8%

Avg.

4.349

Cap Rate

Subject 1 3 5 6 8 9

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Avg.

13.967

Gross Rent Multiplier

Subjec 1 2 3 4 5 6 7 8 9

$30,000

$60,000

$90,000

$120,000

$150,000

$180,000

$210,000

$240,000

Avg.

$187,889

Price per Unit

Subjec 1 2 3 4 5 6 7 8 9

$34

$68

$102

$136

$170

$204

$238

$272

Avg.

$234.17

Price per Sq. Ft.

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SALE COMPARABLESVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

S 15919 Vanowen St.

Van Nuys, CA 91406

Sale Price $1,649,000Units 9Price/Unit $183,222Price/SqFt $255.66Cap Rate 4.25%Year Built 1962GRM 14.46

# Units Unit Type6 1+1

3 2+1

1 16004 Cantlay St16004 Cantlay StVan Nuys, CA 91406

Sale Price $2,100,000Units 12Price/Unit $175,000Price/SqFt $260.48Cap Rate 4.65%Year Built 1963Sale Date 5/16/2018GRM 13.1

# Units Unit Type10 One Bedroom One Bath

2 Two Bedroom Two Bath

2 14158 Sylvan St14158 Sylvan StVan Nuys, CA 91401

Sale Price $1,280,000Units 8Price/Unit $160,000Price/SqFt $218.65Cap Rate 4.64%Year Built 1958Sale Date 10/31/2017GRM N/A

# Units Unit Type8 Studio/Efficiency

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SALE COMPARABLESVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

3 13411 Vanowen St13411 Vanowen StVan Nuys, CA 91405

Sale Price $3,050,000Units 14Price/Unit $217,857Price/SqFt $220.58Cap Rate 4.0%Year Built 1963Sale Date 12/6/2017GRM 14.5

# Units Unit Type8 One Bedroom One Bath

2 Two Bedroom One Bath

3 Three Bedroom Two Bath

1 Four Bedroom Two Bath

4 13611 Vanowen St13611 Vanowen StVan Nuys, CA 91405

Sale Price $2,722,000Units 14Price/Unit $194,429Price/SqFt $258.52Cap Rate N/AYear Built 1962Sale Date 3/30/2018GRM N/A

# Units Unit Type10 One Bedroom One Bath

4 Two Bedroom Two Bath

NOTESProbate sale; 9 units vacant at COE

5 15749 Vanowen St15749 Vanowen StVan Nuys, CA 91406

Sale Price $2,850,000Units 15Price/Unit $190,000Price/SqFt $223.97Cap Rate 4.61%Year Built 1963Sale Date 9/29/2017GRM 12.7

# Units Unit Type9 One Bedroom One Bath

2 Two Bedroom One Bath

4 Two Bedroom Two Bath

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SALE COMPARABLESVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

6 15938 Vanowen St15938 Vanowen StVan Nuys, CA 91406

Sale Price $1,700,000Units 11Price/Unit $154,545Price/SqFt $267.21Cap Rate 3.97%Year Built 1964Sale Date 4/17/2018GRM 15.6

# Units Unit Type4 Studio/Efficiency

6 One Bedroom One Bath

1 Two Bedroom One Bath

7 7328 Vista Del Monte Ave7328 Vista Del Monte AveVan Nuys, CA 91405

Sale Price $1,000,000Units 6Price/Unit $166,667Price/SqFt $238.21Cap Rate N/AYear Built 1956Sale Date 9/29/2017GRM N/A

# Units Unit Type4 One Bedroom One Bath

2 Two Bedroom One Bath

8 6551 Woodley Ave6551 Woodley AveVan Nuys, CA 91406

Sale Price $1,660,000Units 7Price/Unit $237,143Price/SqFt $216.29Cap Rate 4.27%Year Built 1964Sale Date 3/30/2017GRM 14.3

# Units Unit Type1 Other

6 Two Bedroom Two Bath

NOTES"Other" unit is one bed and two bath

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SALE COMPARABLESVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

9 17463 Vanowen St. 17463 Vanowen St. Van Nuys, CA 91406

Sale Price $2,735,000Units 14Price/Unit $195,357Price/SqFt $203.59Cap Rate 4.3%Year Built 1963Sale Date 5/14/2018GRM 13.6

# Units Unit Type7 One Bedroom One Bath

7 Two Bedroom Two Bath

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SALE COMPARABLESVan Nuys, CA 91406

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made tothe accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing orwithdrawal without notice. No liability of any kind is to be imposed on the broker herein.

SVan Nuys, CA, 91406$1,649,000

1 16004 Cantlay StVan Nuys, CA, 91406$2,100,000

2 14158 Sylvan StVan Nuys, CA, 91401$1,280,000

3 13411 Vanowen StVan Nuys, CA, 91405$3,050,000

4 13611 Vanowen StVan Nuys, CA, 91405$2,722,000

5 15749 Vanowen StVan Nuys, CA, 91406$2,850,000

6 15938 Vanowen StVan Nuys, CA, 91406$1,700,000

7 7328 Vista Del Monte AveVan Nuys, CA, 91405$1,000,000

8 6551 Woodley AveVan Nuys, CA, 91406$1,660,000

9 17463 Vanowen St. Van Nuys, CA, 91406$2,735,000

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