3792 ASHWOOD AVE LOS ANGELES CA...
Transcript of 3792 ASHWOOD AVE LOS ANGELES CA...
7 UNITS IN MAR VISTA SHORT BIKE RIDE TO VENICE BEACH
3792 ASHWOOD AVELOS ANGELESCA 90066
OFFERING MEMORANDUMKenny Stevens BRE# 01090251310.968.7005 [email protected]
Our mission
LOCATION OVERVIEWMarket OverviewLocation Overview Map
PROPERTY SUMMARYProperty Highlights
Property Details
Property Location
Aerial Photo
Parcel Orientation
Photography
FINANCIALSFinancial Overview
Rent Roll
COMPARABLESSales Comps
Rent Comps – Unfurnished Long-Term Rentals
Rent Comps – Furnished Short-Term Rentals
MARKETING PACKAGEOVERVIEW
PRESENTEDBY
Kenny Stevens
BRE# 01090251
310.968.7005 cell
3792 ASHWOOD AVELOS ANGELES, CA 90066
449 South Beverly Drive, First Floor, Beverly Hills, CA 90212BRE#01931128
ABOUT US
Our world has changed and so has the business of real estate. It’s not enough to work with a typical real estate
company. At Concord, we think of ourselves as your partner - one who can bring every aspect of your portfolio
together under one roof, combining corporatecapabilities with a family feel.
Concord is the evolution of real estate. We’re changing the game and moving above and beyond what
you’ve come to expect. This is real estate unified; next-level services that seamlessly connect the dots so you
don’t have to. From acquisition to management to construction to the disposition, Concord is elevating your
experience every step of the way.
3792 ASHWOOD AVELOS ANGELES, CA 90066
This information has been secured from sources we believe to be reliable, but we make norepresentations or warranties, expressed or implied, as to the accuracy of the information.
Buyer must verify the information and bears all risk for any inaccuracies.BRE#01931128
OUR CLIENTS ENTRUST US WITH SO MANY ASPECTS OF THEIR REAL ESTATE LIFE. OUR MISSION IS TO DUTIFULLY GUIDE THEM, CREATE VALUE AND ACT
IN HARMONY WITH THEIR BEST INTEREST.
WE PARTNER WITH YOU EVERY STEP OF THE WAY TO ELEVATE YOUR REAL ESTATE EXPERIENCE
a different kind of real estate partner.
OUR MISSION
3792 ASHWOOD AVELOS ANGELES, CA 90066
This information has been secured from sources we believe to be reliable, but we make norepresentations or warranties, expressed or implied, as to the accuracy of the information.
Buyer must verify the information and bears all risk for any inaccuracies.BRE#01931128
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. Buyer must verify the information and bears all risk for any inaccuracies.
LOCATION
3792 ASHWOOD AVELOS ANGELESCA 90066
Kenny Stevens BRE# 01090251310.968.7005 [email protected]
LOCATIONLOCATION OVERVIEW
MAR VISTA - LOS ANGELES, CA 90066
3792 Ashwood Ave, is located in the booming, culturally rich neighborhood of Mar Vista — Close to the MarVista Sunday Farmer's Market, Venice Beach, Marina Del Rey, Silicon Beach, Santa Monica, and Culver City.
Located only a short bike ride from trendy Abbot Kinney Blvd where some of the best shopping and
restaurants in LA are located. Easy commute to LAX, Downtown LA and Beverly Hills and all that West LA has
to offer!
Over the course of just a couple of years, Mar Vista has been among the most significant emerging
submarkets in Los Angeles. Its central location on the Westside along with its proximity to Venice and Silicon
Beach has made this area irresistible to residents. With Venice and Playa Vista filling up fast and Santa Monica
virtually out of space, developers and brokers are eying Mar Vista as the next prevalent neighborhood.
Venice has become one of the most expensive neighborhoods in Los Angeles. According to the real estatewebsite Zillow, it is the seventh most expensive neighborhood in which to buy a house, its median home value
— $1,578,200 — coming in just behind the Hollywood Hills and just ahead of Beverlywood. According to
ApartmentList.com, the average rental price of a two-bedroom apartment in Venice is $4,900 a month — well
ahead of Westwood, Santa Monica, Brentwood, even Bel-Air and the Hollywood Hills. When you rank
neighborhoods in the city of L.A. by price per square foot of real estate, Venice becomes even loftier:
According to data provided to L.A. Weekly by Zillow, Venice is tied with Bel-Air for No. 2. Only the Pacific
Palisades is more expensive per square foot. As for median rental price per square foot, Venice is the most
expensive place in L.A.
Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to over 500 techstartup companies. Major technology companies have opened Offices in the region including Google,
Yahoo!, YouTube, BuzzFeed, Facebook, AOL, Electronic Arts, EdgeCast Networks, and MySpace. The region is
considered the second- or third-largest tech hub in the world, according to various reports. This has had major
impacts on the type and availability of office space and on home prices in Mar Vista, Playa Vista, Playa Del
Rey, Westchester, Santa Monica, and Venice, as these areas have become more desirable due to this
influx.
3792 ASHWOOD AVELOS ANGELES, CA 90066
LOCATIONLOCATION OVERVIEW
Penmar Golf Course and
Recreation Center
Hatchet Hall
Sweet Lucie’s Ice Cream Shop
Venice Canals
Rose AvenueWhole FoodsCerveteca
Café GratitudeRose Café
The Yoga CollectiveMoon Juice
Groundwork Coffee
Abbot Kinney BlvdSalt Air Gjelina
Salt & StrawIntelligentsia Coffee
SatineAust
The Butcher’s DaughterAviator Nation
Erewhon Market
Marina Del Rey
Gold’s GymVenice High School
Superba Food + Bread
Oakwood
Recreation
Center
Costco
Marina Del Rey Hospital
AMC Dine-In Marina 6
Yard House
Ulta Beauty
Barnes and Noble
Mitsuwa Market
Place
Alana’s Coffee Roasters
3792 ASHWOOD AVE
3792 ASHWOOD AVELOS ANGELES, CA 90066
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. Buyer must verify the information and bears all risk for any inaccuracies.
PROPERTY SUMMARY
3792 ASHWOOD AVE LOS ANGELESCA 90066
Kenny Stevens BRE# 01090251310.968.7005 [email protected]
PROPERTY SUMMARYPROPERTY HIGHLIGHTS
7 UNITS IN MAR VISTA• Excellent location on the Venice-Mar Vista border
• Easy bike ride to the beach, Abbot Kinney Blvd, Santa Monica
• 7 open parking spaces
• 2 units have been beautifully renovated
• New front fence and landscaping
• Rents can be increased by 5% per year
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY DETAILS
PROPERTY DESCRIPTION
Units (1)1+1, (6) StudiosMajor Intersection Venice Blvd and Ashwood Ave
Market Mar VistaAPN 4245-021-001Zoning Type LARD1.5Building SF 2,499 SF
PROPERTY DETAILS
3792 Ashwood Avenue, located in the rapidly growing Westside neighborhood of Mar Vista. This 1949 bungalow-style property is located just 1.5 miles from the world-famous Venice Beach Boardwalk. Entertainment value and proximity to a variety of westside neighborhoods add to this property’s long-term appreciation. The building has six (6) studios as well as one (1) 1+1 unit, all of which have hardwood floors, private entrances, and individual parking spaces. Two units have been beautifully renovated with stainless steel appliances, new fixtures, quartz counter top, new cabinets, and updated bathrooms. Additional renovations to the property include; new contemporary landscaping, new front fence, as well as a newly paved parking lot.
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY LOCATION
3792 ASHWOOD AVE
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY AERIAL
Venice Blvd Venice Blvd
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPARCEL ORIENTATION
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY PHOTOS
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY PHOTOS
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY PHOTOS
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY PHOTOS
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY PHOTOS
3792 ASHWOOD AVELOS ANGELES, CA 90066
PROPERTY SUMMARYPROPERTY PHOTOS
3792 ASHWOOD AVELOS ANGELES, CA 90066
FINANCIALS
3792 ASHWOOD AVELOS ANGELESCA 90066
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. Buyer must verify the information and bears all risk for any inaccuracies.
Kenny Stevens BRE# 01090251310.968.7005 [email protected]
FINANCIALSVALUATION - $2,050,000
3792 ASHWOOD AVELOS ANGELES, CA 90066
FINANCIALSRENT ROLL
3792 ASHWOOD AVELOS ANGELES, CA 90066
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. Buyer must verify the information and bears all risk for any inaccuracies.
COMPARABLES
3792 ASHWOOD AVELOS ANGELESCA 90066
Kenny Stevens BRE# 01090251310.968.7005 [email protected]
COMPARABLESSALES COMPS
1
3792 Ashwood Ave, Los Angeles 90066
2700 Abbot Kinney Blvd, Venice, CA 90291
4320-4326 Inglewood Blvd, Los Angeles, CA 90066
Sale Price $5,650,000
COE 7/13/2016
Number of Units 15
Building SF 11,180
GRM 22.84
CAP 2.27%
Price/Unit $376,667
Year Built 1959
Listed For $2,050,000
Number of Units 7
Building SF 2,499
GRM 16.05
CAP 3.74%
Price/Unit $292,857
Year Built 1949UNITS UNIT TYPE
1 1 Bed/1 Bath
6 Studio/1 Bath
3632 S Centinela Ave, Los Angeles, CA 90066Sale Price $2,200,000
COE 3/31/2017
Number of Units 6
Building SF 6,200
GRM 17.94
CAP N/A
Price/Unit $366,667
Year Built 1944
UNITS UNIT TYPE
2 3 Bed/2 Bath
2 2 Bed/2 Bath
2 2 Bed/1 Bath
Sale Price $2,350,000
COE 5/4/2017
Number of Units 6
Building SF 5,316
GRM N/A
CAP 2.57%
Price/Unit $391,667
Year Built 1953
UNITS UNIT TYPE
1 2 Bed/1.5 Bath
8 2 Bath/1 Bath
6 1 Bed/1 Bath
UNITS UNIT TYPE
4 2 Bed/1 Bath
2 1 Bed/1 Bath
561 Washington Blvd, Venice, CA 90292
Sale Price $4,250,000
COE 3/8/2017
Number of Units 10
Building SF 6,280
GRM 19.69
CAP 2.96%
Price/Unit $425,000
Year Built 1954
UNITS UNIT TYPE
2 2 Bed/1 Bath
8 1 Bath/1 Bath
3910 Beethoven St, Los Angeles, CA 90066Sale Price $4,075,000
COE 9/26/2017
Number of Units 13
Building SF 7,841
GRM
CAP
Price/Unit $313,462
Year Built 1969UNITS UNIT TYPE
13 1 Bed/1 Bath
5
3913 Beethoven St, Los Angeles, CA 90066Sale Price $1,980,000
COE 9/5/2017
Number of Units 4
Building SF 2,596
GRM 18.33
CAP 4.14%
Price/Unit $495,000
Year Built 1964
UNITS UNIT TYPE
1 2 Bed/1 Bath
3 1 Bath/1 Bath
6
3745 S Centinela Ave, Los Angeles, CA 90066Sale Price $1,763,000
COE 8/15/2017
Number of Units 5
Building SF 4,554
GRM 17.97
CAP 3.53%
Price/Unit $352,600
Year Built 1959
UNITS UNIT TYPE
3 2 Bed/1 Bath
2 1 Bed/1 Bath
7
3792 ASHWOOD AVELOS ANGELES, CA 90066
COMPARABLESSALES COMPS
Sales Comps
3910 Beethoven St
3632 S Centinela Ave
3913 Beethoven St
4326 Inglewood Blvd
561 Washington Blvd
2700 Abbot Kinney Blvd
3745 S Centinela Ave
3792 ASHWOOD AVE
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6
7 5
6
7
3792 ASHWOOD AVELOS ANGELES, CA 90066
COMPARABLESRENT COMPS – Unfurnished Long Term Rentals
UNIT TYPE 1 + 1
RENT $2,350
UNIT TYPE Studio + 1
RENT $1,020-1,795
4
3792 Ashwood Ave, Los Angeles 90066
11923 Venice Boulevard APT 2, Los Angeles, CA 90066 3629 Beethoven St, Los Angeles, CA 90066
3792 ASHWOOD AVELOS ANGELES, CA 90066
RENT $2,399
UNIT TYPE 1 + 1
11900 Venice Boulevard APT 4, Los Angeles, CA 90066
RENT $2,195
UNIT TYPE 1 + 1
RENT $1,695
UNIT TYPE Studio
12602 Venice Blvd APT 110, Los Angeles, CA 90066
RENT $1,625
UNIT TYPE Studio
Comments: Subject Property. The 1 bedroom unit and a Studio unit have been
fully renovated with hardwood floors, new kitchen and bathroom.
Comments: Gated entry. Vinyl floors throughout. 1 parking space.
4
2700 Abbot Kinney Blvd APT 6, Venice, CA 90291
RENT $2,495
UNIT TYPE 1 + 1
Comments: No parking. Closer to the beach. Not as updated as subject
property.
5
6
21 Westminster Ave APT 106, Venice, CA 90291
RENT $1,900
UNIT TYPE Studio
Comments: 358 sqft studio. No parking. Closer to the beach. Unit interior is
outdated and not as nice as subject property.
2610 Abbot Kinney Blvd, Venice, CA 90291
RENT $1,650
UNIT TYPE Studio
Comments: No parking. 1 mile to the beach. Unit located on 1st floor of
2 story building. Unit is outdated with old appliances and carpet.
7
COMPARABLESRENT COMPS – Unfurnished Long Term Rentals
Rent Comps
11923 Venice Blvd
12602 Venice Blvd
21 Westminster Ave
11900 Venice Blvd
3629 Beethoven St
2700 Abbot Kinney Blvd
2610 Abbot Kinney Blvd
3792 ASHWOOD AVE
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6
7
5
67
3792 ASHWOOD AVELOS ANGELES, CA 90066
COMPARABLESRENT COMPS – Furnished Short Term Rentals
WEEKLY RENT $903
UNIT TYPE Studio
4
Private Guest Studio 2 Miles from Beach
Super Cute Venice/Mar Vista Studio Apt
Mar Vista – New Garden Guest House
Private studio in a quiet neighborhood
Cozy Industrial Artist Loft Style Guest House in Mar Vista
WEEKLY RENT $553
UNIT TYPE Studio
WEEKLY RENT $693
UNIT TYPE Studio
WEEKLY RENT $560
UNIT TYPE Studio
WEEKLY RENT $1,043
UNIT TYPE Studio
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3792 ASHWOOD AVELOS ANGELES, CA 90066
3792 ASHWOOD AVELOS ANGELESCA 90066
OFFERING MEMORANDUMKenny Stevens BRE# 01090251310.968.7005 [email protected]