OFFERING MEMORANDUM | TEN-UNIT APARTMENT …...11667 Goshen Avenue is a ten (10) unit apartment...
Transcript of OFFERING MEMORANDUM | TEN-UNIT APARTMENT …...11667 Goshen Avenue is a ten (10) unit apartment...
OFFERING MEMORANDUM | TEN-UNIT APARTMENT BUILDING | PRIME BRENTWOOD LOCATION
11667 GOSHEN AVENUELOS ANGELES, CALIFORNIA 90049
$4,000,000 | $400,000 PER UNIT | $443 PER SQUARE FOOT
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CONTENTS
PRESENTED BY
JOHN SWARTZSenior Vice [email protected] CA License 01873487
JOSH KAPLANSenior Vice [email protected] CA License 01934177
TROY [email protected] CA License 02015705
TRANSWESTERN601 S. Figueroa Street, Suite 2750Los Angeles, CA 90017213.624.5700 transwestern.com/losangeles
3 INVESTMENT SUMMARY
▪ Investment Summary
5 PROPERTY IMAGES
▪ Property Images
8 LOCATION OVERVIEW
▪ Regional Map
▪ Neighborhood Map
▪ Aerial View Facing Los Angeles
▪ Aerial View Facing Santa Monica
▪ Plat Map
▪ Market Overview
▪ Brentwood Market Data and Demographics
▪ Nearby Development Projects
▪ Nearby Development Projects Map
▪ Major Employers and Places of Interest Map
▪ Silicon Beach
▪ Silicon Beach Map
20 FINANCIAL ANALYSIS
▪ Offering Summary
▪ Rent Roll
▪ Operating Statement Summary
23 SALES AND RENT COMPARABLES
▪ Sales Comparables
▪ Sales Comparables Map
▪ Rent Comparables
▪ Rent Comparables Map
Copyright © 2018 Transwestern. California
Brokerage License #01263636. The information
in this offering memorandum was gathered
by Transwestern from sources believed
reliable. Transwestern has not verified the
information and makes no guarantee, warranty
or representation about it. It is the potential
buyer’s responsibility to independently confirm
its accuracy and completeness. Any projections,
opinions, assumptions or estimates used are for
example only and do not represent the current
or future performance of the property. Potential
buyers and their advisors should conduct
a careful, independent investigation of the
property to determine to their satisfaction the
suitability of the property for their needs.
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INVESTMENT SUMMARY
Transwestern as the exclusive listing agent is pleased to present the opportunity to acquire 11667 Goshen Avenue, Los Angeles, California 90049, a ten (10) unit apartment building located in the heart of Brentwood within a short walking distance from retail, dining and entertainment on Wilshire Boulevard and San Vicente Boulevard.
THE OPPORTUNITY■■ Soft-story seismic retrofit completed
■■ Two units to be delivered vacant: Unit 1 (2br+2ba) and Unit 7 (1br+1ba)
■■ Value-add opportunity – current rents are
approximately 32% below market1
■■ All units have large and efficient floor plans
■■ Excellent unit mix – six (6) 1bed+1bath and
four (4) 2bed+2bath units
■■ Ample on-site parking – thirteen (13) spaces
- five (5) single spaces and four (4) tandem
spaces
■■ 10 storage units on site
PROPERTY SUMMARY
PROPERTY ADDRESS 11667 Goshen Avenue
Los Angeles, CA 90049
NUMBER OF UNITS Ten (10) total units
Six (6) 1bed + 1bath
Four (4) 2bed + 2bath
YEAR BUILT
1961
BUILDING SIZE2
+ 9,024 SF
LAND SIZE2
+ 7,499 SF
ZONING
R4-1 (Per zimas.lacity.org - Buyer to verify)
PARKING
Thirteen (13) total spaces
Five (5) single spaces
Four (4) tandem spaces
ASSESSOR PARCEL NUMBER
4265-003-002
2Source: TitlePro. Buyer to verify.
PRICE: $4,000,000
$443 PER SQUARE FOOT
$400,000 PER UNIT
17.0 CURRENT GRM1
3.63% CURRENT CAP RATE1
1 Current GRM and Cap Rate assumes vacant Units 1 and 7 leased at projected rents.
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INVESTMENT SUMMARY
PROPERTY DESCRIPTION11667 Goshen Avenue is a ten (10) unit
apartment building constructed in 1961. The unit
mix consists of six (6) large 1bed+1bath and four
(4) 2bed+2bath units. The property is a three-
story 9,024 square foot walk-up building with a
wood frame and stucco construction situated on
a 7,499-square foot lot.
All of the units have very large floor plans that
provide an investor the opportunity to complete
their own renovation plan and significantly
increase rents. All units come with a wall air
conditioner and most units come with a large
glass sliding door in the living room. All units
feature a dual vanity in the main bathroom. In
addition, all units feature additional closet space
in the living room, storage space in the hallway
as well as a storage locker outside in the parking
lot. Unit 10 is a penthouse 2bed+2bath unit
featuring a second entrance/exit from a private
staircase as well as a large balcony off of the
guest bedroom.
Parking is provided on-site with thirteen (13)
spaces comprised of five (5) single spaces and
four (4) tandem spaces. Five (5) of the single
spaces are located at the rear of the building.
Each of the units are separately metered for gas
and electricity. Tenants are provided with one (1)
washer and one (1) dryer machine which were
both replaced in 2016 and are owned by the
landlord. The water heater was also replaced in
2016.
PROPERTY LOCATION
11667 Goshen Avenue is located between
Barrington and Barry Avenue, a short walking
distance from Wilshire Boulevard, in the heart
of Brentwood. Brentwood is an affluent area in
West Los Angeles. While the area is more widely
known for its multi-million dollar mansions
at the base of the Santa Monica Mountains,
Brentwood also offers a charming walkable
urban village that is located a few blocks from
the subject property. The area offers a wide
array of convenient walkable neighborhood
amenities including Whole Foods, Starbucks,
The Coffee Bean, CVS, Jamba Juice, SoulCycle,
Fresh Brothers, Burger Lounge, SusieCakes,
Citibank, and Brentwood Gardens, an alfresco
shopping center which includes a variety of
boutique, shops, and restaurants. Additionally,
there are numerous fine dining establishments
in the area including Katsuya, Sugarfish, Coral
Tree Café, Toscana, Pecorino, Palmeri Ristorante,
Pizzicotto, Gaucho Grill, and Bandera. On nights
and weekends, residents will be afforded a truly
complete, urban experience replete with hikes
in the Santa Monica Mountains, shopping and
brunch on Montana Avenue in Santa Monica,
cultural entertainment at the Getty or Geffen
Playhouse Theater in Westwood, and trips to
the Santa Monica beach less than five miles
from their front door. Brentwood is also home to
seven private schools, two public schools, and
the exclusive Brentwood Country Club.
WALK SCORE BREAKDOWN
DINING/DRINKING
GROCERIES
SHOPPING
ERRANDS
PARKS
SCHOOLS
ENTERTAINMENT
0 100
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PROPERTY EXTERIOR IMAGES
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PROPERTY INTERIOR IMAGES
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PROPERTY INTERIOR IMAGES
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REGIONAL MAP
11667 Goshen Ave
405
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405
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LincolnBlvd
26ThSt
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Nat iona l B lvd
SB
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SantaMonica Blvd
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NEIGHBORHOOD MAP
11667 Goshen Ave
405
405
San V icente Blvd
Wi lshire Blvd
SBundy Dr
Monta
naAve
San V icente Blvd
SBarrington
Ave
Kiowa
Ave
BarryAve
Gorham
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Goshen
Ave
May
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Doroth
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Darlin
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Bonsall Ave
Chenault
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Texas Ave
Monta
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Federal Ave
Dowlen Dr
OhioAve
Butler Ave
Grant Ave
Rochester Ave
Dew
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Colby
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Pershing
Ave
BringhamAve
Stoner Ave
Macarthur A
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Had
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Eisenhower
Granville
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Gorham PlH
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LornaLn
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Wad
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Armacost Ave
May
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AveGranville
Ave
SW
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SW
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AERIAL VIEW FACING DOWNTOWN LOS ANGELES
GOSHEN AVE
SAN VICENTE BLVD
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AERIAL VIEW FACING SANTA MONICA
GOSH
EN A
VE
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PLAT MAP
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LOS ANGELES APARTMENT MARKET OVERVIEWIn the first quarter 2018, the Los Angeles County
apartment real estate market continued to see
high occupancy levels and strong year-over-year
effective rent growth. REIS reported the County-
wide occupancy rate at 96.6%, down 10 basis
points from year-end 2017. With the average
apartment rental rate now at $1,898 per month
County-wide according to REIS, year-over-year
rental rate growth has been 5.2% which is the
second fastest growing on the West Coast,
behind only Seattle.
Los Angeles County saw a total of 6,164
apartment units delivered in 2017 with an
additional 11,755 units now under construction
and expected to be delivered between now and
year-end 2018. With Los Angeles now mostly
built-out, developers have looked more closely
at apartment construction in infill neighborhoods
with existing infrastructure and transit links to
the rest of the region. As a result, much of the
apartment construction in Los Angeles County
is concentrated in only a handful of submarkets:
Downtown Los Angeles, Hollywood, Koreatown,
Long Beach, and Warner Center.
BRENTWOOD MARKET OVERVIEWLocated in West Los Angeles, Brentwood is an
affluent neighborhood bordered by the San
Diego Freeway to the east, Wilshire Boulevard
to the south, the Santa Monica city limits on the
southwest, the border of Topanga State Park on
the west and Mulholland Drive in the mountains
to the north. Due to its proximity to major
points of interest such as UCLA, Malibu, and
Santa Monica, as well as its walkable village feel,
Brentwood is considered by many to be one of
the most desirable neighborhoods to live in Los
Angeles. As a result, it has some of the highest
average household incomes in the region while
being home to seven private schools, two public
schools, and the exclusive Brentwood Country
Club.
MARKET OVERVIEW
BRENTWOOD BY THE NUMBERS
2017 POPULATION
229,500 (+2.0% since 2010)
2022 POPULATION
237,760 (+3.6% est. over 2017)
MEDIAN AGE
42.3 years old
EDUCATION
63% have bachelor’s or higher
AVERAGE INCOME
$138,022
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BRENTWOOD MARKET DATA AND DEMOGRAPHICS
SUBMARKET DATAIn the first quarter 2018, the Brentwood rental
apartment market saw occupancy levels for
Class A properties decrease to 96.6%, down
from 96.9% a year ago. Class B/C properties
saw their occupancy levels increase to 98.1%, up
from 97.7% a year ago. According to REIS, the
average monthly asking apartment rental rate in
Brentwood for Class A buildings in the first quarter
2018 was $3,590 (up 8.2% year over year) while
Class B/C buildings saw asking rents increase to
$2,392 (up 7.0% year over year). With Brentwood
continuing to be seen as a high-barrier-to-entry
neighborhood near major employment clusters
on the Westside, expect apartment properties
to remain in high demand from both renters and
investors for the foreseeable future.
1 MILE RING 3 MILE RING 5 MILE RINGPOPULATION SUMMARY # % # % # %
2022 Projection 46,845 237,760 541,424
2017 Estimate 44,901 229,500 522,479
2010 Census 43,464 225,066 511,412
Projected Growth 2017-2022 4.33% 3.60% 3.63%
Estimated Growth 2010-2017 3.30% 1.97% 2.16%
Household Summary # % # % # %
2022 Projection 24,757 109,543 251,092
2017 Estimate 23,706 105,319 241,721
2010 Census 22,922 102,883 236,023
Projected Growth 2017-2022 4.43% 4.01% 3.88%
Estimated Growth 2010-2017 3.42% 2.37% 2.41%
Ethnicity/Race Summary # % # % # %
White 28,467 63.40% 147,119 64.10% 325,730 62.34%
Black 1,325 2.95% 6,253 2.72% 20,351 3.90%
Asian 7,311 16.28% 38,317 16.70% 68,688 13.15%
Hispanic 5,866 13.06% 27,561 12.01% 84,784 16.23%
Other 1,932 4.30% 10,249 4.47% 22,926 4.39%
Education Summary # % # % # %
Less than 9th grade 847 2.54% 3,405 2.19% 12,947 3.52%
Some High School, no diploma 1,067 3.20% 4,307 2.77% 11,744 3.19%
High School Graduate (or GED) 2,223 6.67% 13,153 8.45% 36,175 9.83%
Some College, no degree 4,308 12.92% 21,791 14.00% 58,115 15.79%
Associate Degree 1,559 4.68% 7,248 4.66% 18,951 5.15%
Bachelor's Degree 14,164 42.49% 57,516 36.95% 129,931 35.30%
Master's Degree 5,378 16.13% 26,258 16.87% 55,456 15.07%
Professional School Degree 2,320 6.96% 14,106 9.06% 29,448 8.00%
Doctorate Degree 1,469 4.41% 7,872 5.06% 15,289 4.15%
Workplace & Income Summary # % # % # %
Median Household Income $82,482 $86,301 $85,352
Average Household Income $116,606 $138,022 $137,506
All Employees 48,881 282,073 493,442
White Collar 18,685 38.40% 118,909 42.32% 197,543 40.20%
Blue Collar 29,972 61.60% 162,069 57.68% 293,840 59.80%
Median Employee Salary $48,686 $52,512 $50,270
Average Employee Salary $58,071 $61,950 $59,405
Daytime Population 69,587 498,399 854,652
BRENTWOOD DEMOGRAPHIC OVERVIEW
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PICASSO BRENTWOODUnder construction 6-story, 81-unit mixed-use
apartment project by Metropolitan Pacific on
Wilshire Boulevard between Bundy Drive and
Brockton Avenue with 10,000 square feet of
ground-floor retail.
MONTCLAIRUnder construction 5-story, 49-unit apartment
project at 11965-11979 Montana Ave by
Montana Bundy LLC consisting of 45 market rate
units and 4 affordable units.
625 S BARRINGTON AVEUnder construction 4-story, 46-unit market-rate
apartment project by Nayssan Properties on
Barrington Avenue between Chenault St and
Terryhill Place.
THE SANREMOUnder construction 4-story, 34-unit market-rate
apartment project by The Roberts Companies
on Barrington Avenue between Sunset
Boulevard and San Vicente Boulevard.
1330 S FEDERAL WAYProposed 2-story ,26-unit condo development
project by Woodbridge Properties LLC on
the northeast corner of Federal Avenue and
Rochester Ave.
LANDMARK APARTMENTSProposed 34-story, 376-unit apartment tower
by Douglas Emmett replacing the long-vacant
Pavilions supermarket site on the southwest
corner of Wilshire Boulevard and Granville
Ave, consisting of 360 market rate units and 16
affordable units.
11701 SANTA MONICA BLVDProposed 5-story, 61-unit apartment project by
Markwood Enterprises on the northwest corner
of Santa Monica Boulevard and Barrington
Avenue consisting of 56 market rate units and
5 affordable units over 1,500 square feet of
ground-floor retail space.
12431 ROCHESTER AVEProposed 5-story, 50-unit apartment project by
Starkwood on the northeast corner of Santa
Monica Boulevard and Centinela Avenue
consisting of 45 market rate units and 5
affordable units.
11407 SANTA MONICA BLVDProposed 5-story, 51-unit apartment project
by Wiseman Development on the northwest
corner of Santa Monica Boulevard and Purdue
Avenue consisting of 47 market rate units and 4
affordable units over 1,500 square feet of ground
floor retail space.
NEARBY DEVELOPMENT PROJECTS
PICASSO BRENTWOOD
MONTCLAIR
LANDMARK APARTMENTS
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NEARBY DEVELOPMENTS MAP
The Sanremo
Picasso Brentwood
1330 S Federal Way
12431 Rochester Ave
Landmark Apartments
11407 Santa Monica Blvd
11701 Santa Monica Blvd
Montclair
625 S. Barrington Ave
11667 Goshen Ave S Sepu lved
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Monta
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MAJOR EMPLOYERS AND PLACES OF INTEREST
UCLA
Hammer Museum
The Getty Center
Santa Monica Pier
Temescal Canyon Park
Riviera Country Club
Will Rogers State Park
Brentwood Country Mart
Brentwood Country Club
Will Rogers State Beach
UCLA
Wells Fargo
BakerHostetler LLP
Social Security Administration
RBZ LLP
IBISWorld
Kinetic Content
Crystal Cruises
First Pacific Advisors
Hudson Pacific Properties
VA Greater Los Angeles Healthcare Center
11667 Goshen Ave
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MAJOR EMPLOYERS
PLACES OF INTEREST
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SILICON BEACH
SANTA MONICAUniversal Music GroupActivision BlizzardLionsgate EntertainmentHuluRubin Postaer & AssociatesEdmunds.comHBOAmazon.comCornerstone OnDemandRed BullCBS TV DistributionDemand MediaGame Show Network (GSN)Crispin PorterUberWeWorkTrueCarSkydance ProductionsTradesyTwitterPandoraRed InteractiveInteractive Data CorpOvation TVZipRecruiterMatchCraft
VENICEBuzzFeedContinuumEpoxyGoogleSnapchatVICE MediaZambeziZEFR
OLYMPIC CORRIDORRiot GamesShopzillaFandango
MARINA DEL REYDollar Shave ClubTeleSignJibJab Media
PLAYA VISTA Fox Interactive MediaBelkinVerizon (EdgeCast Networks)Yahoo!Electronic ArtsUSC Institute of Creative Technologies
Sony Computer EntertainmentDeutsch AdvertisingThe Honest Company72andSunnyTeam One (Saatchi & Saatchi)IMAXOmnicom MediaWPP (GroupM Worldwide)Rubicon ProjectYouTubeCore Digital MediaICANNTMZFacebookLaureate EducationTBWA\Chiat\DayKonami Strange Frog ProductionsPhelps GroupPopMicrosoftFullscreenGehry TechnologiesChernin GroupBrighter CollectiveR/GA Media GroupVEVO
Due to its strong concentration of established and startup entertainment, digital media, and technology firms, the area stretching between Santa Monica,
Venice Beach, Marina Del Rey, Culver City, and Playa Vista has been called “Silicon Beach.” With well-known local startup firms such as Snapchat, TrueCar,
ZipRecruiter, as well as Silicon Valley behemoths such as Google, YouTube, Facebook, and Uber, this coastal area have become a major center for
Southern California’s technology industry
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SILICON BEACH MAP
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Palms
Westwood
Crenshaw
Brentwood
Ocean Park
Rancho Park
Windsor Hills
Marina del Rey
Ladera Heights
West Los Angeles
Venice
Culver City
Santa Monica
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FINANCIAL ANALYSIS - OFFERING SUMMARY
PROPERTY SUMMARY PRICING SUMMARY
Property Address 11667 Goshen Ave Price $4,000,000
City/State Los Angeles, CA 90049 Price Per Unit $400,000
Year Built 1961 Price Per SF $443
Total Units 10 Current NOI3 $145,289
Building Area1 9,024 SF Pro Forma NOI $207,556
APN# 4265-003-002 Cap Rate - Current3 3.63%
Land Area1 7,499 SF Cap Rate - Pro Forma 5.19%
Zoning2 R4-1 GRM - Current3 17.0x
Parking Thirteen (13) spaces - five (5) single spaces and four (4) tandem spaces GRM - Pro Forma 12.9x
RENT ROLL SUMMARY
CURRENT3 PRO FORMA
NO. UNITS FLOOR PLANAVG. IN-PLACE
RENTTOTAL MONTHLY
INCOMESCHEDULED
GROSS INCOMEAVG. PRO
FORMA RENTTOTAL MONTHLY
INCOMESCHEDULED
GROSS INCOME LOSS TO LEASELOSS TO LEASE %
6 1B+1BA $1,689 $10,132 $121,584 $2,250 $13,500 $162,000 $40,416 33%
4 2B+2BA $2,334 $9,335 $112,020 $3,050 $12,200 $146,400 $34,380 31%
Totals/WTD Avg. 10 $1,947 $19,467 $233,604 $2,570 $25,700 $308,400 $74,796 32%
1 Source: TitlePro. Buyer to verify square footages.
2 Source: zimas.lacity.org.
3 Current GRM, Cap Rate and NOI and rents assume vacant Units 1 and 7 leased at projected rents.
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RENT ROLL
CURRENT1 PRO FORMA
UNIT OCCUPIED / VACANT MOVE-IN DATE UNIT TYPE CURRENT RENT SCHEDULED GROSS
INCOME MARKET RENTSCHEDULED GROSS
INCOME LOSS TO LEASE1 Vacant N/A 2B+2BA $3,050 $36,600 $3,050 $36,600 $0 2 Occupied 4/1/2017 1B+1BA $1,494 $17,928 $2,250 $27,000 $756 3 Occupied 1/25/2014 1B+1BA $1,731 $20,772 $2,250 $27,000 $519 4 Occupied 10/1/1999 1B+1BA $1,463 $17,556 $2,250 $27,000 $787 5 Occupied 7/1/2011 2B+2BA $1,966 $23,592 $3,050 $36,600 $1,084 6 Occupied 10/27/2015 1B+1BA $1,597 $19,164 $2,250 $27,000 $653 7 Vacant N/A 1B+1BA $2,250 $27,000 $2,250 $27,000 $0 8 Occupied 1/1/2017 1B+1BA $1,597 $19,164 $2,250 $27,000 $653 9 Occupied 10/18/2014 2B+2BA $2,122 $25,464 $3,050 $36,600 $928
10 Occupied 1/1/2013 2B+2BA $2,197 $26,364 $3,050 $36,600 $853 Totals 10 9,024 SF $19,467 $233,604 $25,700 $308,400 $6,233
Loss To Lease % 32%
RENT ROLL SUMMARY
CURRENT1 PRO FORMA
NO.UNITS OCCUPANCY % FLOOR PLAN AVG. IN-PLACE RENT TOTAL MONTHLY INCOME AVG. PRO FORMA RENT TOTAL MONTHLY INCOME LOSS TO LEASE
6 60% 1B+1BA $1,689 $10,132 $2,250 $13,500 $3,368 4 40% 2B+2BA $2,334 $9,335 $3,050 $12,200 $2,865
Total/WTD Avg. 100% 10 $1,947 $19,467 $2,570 $25,700 $6,233 Gross Potential Income $233,604 $308,400 $74,796
1 Current rents assume vacant Units 1 and 7 leased at projected rents.
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OPERATING STATEMENT SUMMARY
OPERATING STATEMENT SUMMARY
Revenue IN-PLACE1 PRO FORMA
Gross Potential Rent $233,604 $308,400
Vacancy - (9,252)
Net Rental Income $233,604 $299,148
Other Revenue - Estimated Laundry Income 1,700 1,700
Effective Gross Income $235,304 $300,848
Estimated Expenses Per Unit Per Unit
Administrative Estimated $1,000 $100 $1,000 $100
Repairs & Maintenance Estimated 6,500 650 6,500 650
Turnover Expense Estimated 1,500 150 1,500 150
Management Fee 5.0% of EGI 11,765 1,177 15,042 1,504
Utilities Estimated 11,500 1,150 11,500 1,150
Contract Services Estimated 1,500 150 1,500 150
Taxes 1.25% of Sale Price 50,000 5,000 50,000 5,000
Insurance Estimated 3,750 375 3,750 375
CapEx Reserves Estimated 2,500 250 2,500 250
Total Expenses $90,015 $9,002 $93,292 $9,329
Net Operating Income $145,289 $207,556
Expense Ratio (% of EGI) 38% 31%
1 In-place NOI assumes vacant Units 1 and 7 leased at projected rents.
23
PROPERTY ADDRESS YEAR BUILT SALE DATE SALE PRICE CAP RATE GRM $PSF $ PER UNIT BLDG SF # OF UNITS
11642 Kiowa Ave.
Los Angeles, CA 900491967 Apr-2018 $4,250,000 2.99% 19.9 $513 $472,222 8,284 9
11921 Goshen Ave.
Los Angeles, CA 900491962 Jan-2018 $3,900,000 3.30% 18.1 $582 $487,500 6,700 8
11813 Dorothy St.
Los Angeles, CA 90049 1954 Sep-2017 $2,800,000 3.59% 17.5 $394 $400,000 7,106 7
11942 Darlington Ave.
Los Angeles, CA 900491965 Jul-2017 $2,950,000 N/A N/A $455 $421,429 6,477 7
TOTAL / AVERAGE $13,900,000 3.25% 18.6 $487 $448,387 28,567 31
11667 GOSHEN AVE. 1961 $4,000,000 3.63%1 17.01 $443 $400,000 9,024 10
1 Current Cap Rate and GRM assume vacant Units 1 and 7 leased at projected rents.
SALES COMPARABLES
1
2
3
4
24
11642 Kiowa Ave11813 Dorothy St
11921 Goshen Ave
11942 Darlington Ave
11667 Goshen Ave
Wils
h ire B
lvd
San V icente B lvd
S Bundy Dr
Monta
na Ave
Wil
shi r
eBl v
d
San V icente B lvd
Wils
hi re B
lvd
San Vicente Blvd
S Bundy
Dr
San Vicente Blvd
Kiowa
Ave
Goshen A
ve
Doroth
y St
S Barrington Ave
May
field
Ave
Barry Ave
Texas Ave
Darlin
gton A
ve
Gorham
Ave
S Westgate Ave
Granville Ave
Stoner Ave
S Gretna Green Way
Amherst Ave
Arm
acost Ave
Monta
na Ave
Federal Ave
Brockton AveWellesley Ave
Rochester A
ve
SSaltair
Ave
Bring
ham
Ave
S Westgate Ave
Darlin
gton A
ve S Westgate A
ve
Granville A
ve
Federal Ave
Kiowa Ave
Goshen Ave
Doroth
y St
S Barrington Ave
Mayfield Ave
Barry Ave
Texas Ave
Darlington Ave
Gorham Ave
S Westgate Ave
Granville Ave
Stoner Ave
BringhamA
ve
Veteran Affairs Los Angeles
Healthcare System
University High School
4
3
2
1
SALES COMPARABLES MAP
25
PROPERTY ADDRESS UNIT TYPE RENT COMMENTS
11677 Goshen Ave. 1B+1BA $2,195 Unit features a balcony, hardwood floors in living room, tile in kitchen and carpet in bedroom.
11642 Kiowa Ave. 1B+1BA $2,295
Unit features newer wood laminate floors, wet bar and patio. Kitchen has granite counters, new stainless
steel sink, dishwasher, range, microwave, and refrigerator. Wall a/c. One carport space included. Community
laundry room.
11640 Kiowa Ave. 1B+1BA $2,395 Unit features fire place, all major appliances, central heating and cooling and balcony. Includes 1-car parking
space.
11683 Goshen Ave. 1B+1BA $2,245 Newly remodeled 1 bd 1 ba with balcony, A/C, walk-in closet, laminate floors, high ceilings, carpet in
bedroom, and all new stainless steel appliances.
11640 Kiowa Ave. 2B+2BA $3,195 Unit features granite counter tops, stainless steel appliances, hardwood floors, fire place, central heating and
cooling and balcony.
11663 Kiowa Ave. 2B+2BA $2,995Unit features fire place, all major appliances, central heating and cooling and balcony. Includes 2-car parking
space.
11757 Kiowa Ave. 2B+2BA $2,895 Front facing unit with balcony includes; laminate floors, high ceilings and recessed lighting in living room.
Central a/c and heat. Owner pays for water and trash. Two parking spaces. Washer and dryer on premise.
RENT COMPARABLES SUMMARY
UNIT TYPE # OF UNITS AVG RENT SUBJECT PROPERTY
1B+1BA 4 $2,283 $2,250
2B+2BA 3 $3,028 $3,050
RENT COMPARABLES
1
2
3
4
5
6
7
26
7
6
4
3,5
2
1
11757 Kiowa Ave
11663 Kiowa Ave
11640 Kiowa Ave
11642 Kiowa Ave
11683 Goshen Ave11677 Goshen Ave
11667 Goshen Ave
Wils
h ire B
lvd
San Vicente B
lvd
San Vicente B
lvd
Wils
hi re Blvd
San Vicente Blvd
Kiowa
Ave
Barry Ave
May
field
Ave
S Barrington Ave
Goshen A
ve
Granville Ave
Darlingto
n Ave
Doroth
y St
S Westgate Ave
Federal Ave
Stoner Ave
Gorham
Ave
Kiowa Ave
Mayfield Ave
Barry Ave
Goshen Ave
S Barrington Ave
Granville AveDarlington Ave
Dorothy S
t
S Westgate Ave
Federal Ave
Veteran Affairs Los Angeles
Healthcare System
RENT COMPARABLES MAP
T 213.624.5700 F 213.624.9203www.transwestern.com
601 S. Figueroa Street, Suite 2750Los Angeles, CA 90017
Copyright © 2018 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information in this offering memorandum was gathered by Transwestern from sources believed reliable. Transwestern has not verified the information and makes no guarantee, warranty or representation about it. It is the potential buyer’s responsibility to independently confirm its accuracy and completeness. Any projec-tions, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Potential buyers and their advisors should conduct a careful, independent investigation of the property to determine to their satisfaction the suitability of the property for their needs. CA Broker License 01263636
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