707 Crenshaw Boulevard
$2,095,000 $209,500 Per Unit
14.8 Current Gross Rent Multiplier
4.17% Current Capitalization RateTen-Unit Apartment Building in Prime Wilshire Park
Neighborhood of Western Koreatown
Major Value-Add Opportunity - Current Rents Over 63 Percent Below Market
Table of Contents
PRESENTED BY
JOSH KAPLANManaging [email protected] CA License 01934177
JOHN SWARTZManaging [email protected] CA License 01873487
TROY LUCEROSenior [email protected] CA License 02015705
TRANSWESTERN601 S. Figueroa Street, Suite 3650Los Angeles, CA 90017213.624.5700 transwestern.com
3 Investment Summary ▪ The Opportunity
▪ Property Description
▪ Exterior and Interior Photos
▪ Aerial Photos
10 Location Overview ▪ Apartment Market Overview
▪ Places of Interest and Major Employers
▪ Nearby Developments
▪ Demographics
14 Financial Analysis ▪ Financial Analysis
▪ Rent Roll
▪ Sales Comparables
▪ Rent Comparables
Copyright © 2020 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.
3
Transwestern as the exclusive listing agent is pleased to
present the opportunity to acquire 707 Crenshaw Boulevard, a
10-unit apartment building located just south of Wilshire
Boulevard and west of Wilton Place in the prime Wilshire Park
neighborhood of Western Koreatown. Both Larchmont Village
and Hancock Park are just over a mile north, and the Property
is within walking distance of the Wilshire/Western Metro
Station and the Wiltern Theater.
The Opportunity
▪ Significant value-add opportunity - current rents are over
63 percent below market.
▪ Unit 709 #6 (2bed+1bath) will be delivered vacant.
▪ Classic 1940’s architecture provides excellent platform for
renovation.
▪ No soft-story retrofit requirement.
▪ Excellent unit mix – six studios and four 2bed+1bath units.
▪ Property has an additional currently unleased /
non-conforming bachelor unit.
Investment Summary
Offering Price: $2,095,000
$209,500 Per Unit
14.8 Current Gross Rent Multiplier1
4.17% Current Capitalization Rate1 1Current capitalization rate and GRM assume that vacant
unit 709 #6 will be leased by buyer at market rent.
4
707 Crenshaw Boulevard is a ten-unit classic 1940s vintage apartment
building constructed in 1940. The unit mix consists of six studios, four
2bedroom/1bathroom units and one vacant non-conforming bachelor
unit. The property is a two-story, 6,362-square-foot walk-up building
with wood frame and stucco construction situated on a 7,499-square-
foot lot.
The superior location and classic building architecture provide the
perfect opportunity for an investor to complete their own renovation
plan and significantly increase rents. All two-bedroom units feature
large bedrooms, open kitchens, spacious living room areas, ample
storage and closet space, crown molding and significant natural light.
One of the two-bedroom units (709 Unit 5) has an updated kitchen,
updated bathroom and hardwood flooring throughout. All studio units
feature open kitchenettes, large living spaces, ample closet and storage
space, crown molding and significant natural light. One of the studios
(709 Unit 3) has laminate flooring and a partially updated kitchen.
Several of the units feature dual access from both the front and rear of
the unit. Each unit also features an individual water heater. There is also
an 11th non-confirming bachelor unit (no kitchen) with a bathroom
(shower and toilet) next to the laundry room at the rear of the property.
The unit is not currently tenant-occupied but has been leased in the
past and may provide an investor with the potential for future additional
income.
Parking is provided on-site with four single garage spaces, which are
included in the lease for each two-bedroom unit and one single surface
space is being rented by a tenant for an additional monthly fee. Units
are separately metered for electricity and gas and the landlord pays for
water and trash. The property also includes a laundry room with one
washer and dryer provided through a lease with a laundry company.
Property Description
Classic 1940s vintage apartment building
5
PROPERTY LOCATION 707 Crenshaw Boulevard is located just south of Wilshire
Boulevard and west of Wilton Place in the prime Wilshire Park
neighborhood of Western Koreatown. The property is within a
10-minute walk of the Wilshire/Western Metro Rail Station and
is a very short drive to both Larchmont Village and Hancock
Park. By 2023, the Metro line will extend from Wilshire/Western
to Wilshire/La Cienega and then all the way to Westwood and
West LA by 2027, providing tenants with more transportation
options. The property is less than 20 minutes away from Beverly
Hills, Park La Brea, Hollywood, West Hollywood and Downtown
Los Angeles. A short drive to either the 10 or 101 freeways
gives tenants access to all of the major employment centers
including Downtown Los Angeles, West Los Angeles, The
South Bay and the San Fernando Valley.
PROPERTY ADDRESS 707 Crenshaw Boulevard
Los Angeles, CA 90005
NUMBER OF UNITS 10 total units Six studio units
Four 2bed +1bath units
YEAR BUILT
1940
BUILDING SIZE
+6,362 SF (Per TitlePro - Buyer to verify)
LAND SIZE
+7,499 SF (Per TitlePro - Buyer to verify)
ZONING
LAR3 (Per zimas.lacity.org - Buyer to verify)
PARKING
Five total spaces
ASSESSOR PARCEL NUMBER
5090-032-008
Property Description
Exterior Photos
Non-Conforming Bachelor Unit
Interior Photos
8
Aerial View Facing Hollywood
WILSHIRE BL
9
Aerial View Facing Downtown Los Angeles
1010
LOS ANGELES APARTMENT MARKET OVERVIEWIn the second half 2019, the Los Angeles County apartment real estate
market continued to see high occupancy levels and strong year-over-
year effective rent growth. According to Costar, the average asking
rental rate in the third quarter 2019 in Los Angeles County was $1,863
per month, up 0.4% over the previous quarter and up 2.1% year-over-
year. Apartment occupancy increased 20 basis points over the previous
quarter to 96.1%. Despite over 27,000 units now under construction
county-wide, the Los Angeles apartment market remains severely
supply-constrained.
With the overall US economy currently in its longest period of
expansion ever, the Los Angeles regional economy also continues to
grow. Despite anxiety from many market watchers that the current
economic expansion is getting long in the tooth, the fact remains that
the overall housing market remains severely supply-constrained. On
the capital markets side, adequate debt and equity availability bode well
for continued, healthy performance, and as a result, expect the Los
Angeles apartment market to remain strong going into the first half of 2020
despite the twin challenges of a historically tight labor market and the
increasingly high cost of housing and doing business.
KOREATOWN SUBMARKET OVERVIEWLocated in central Los Angeles, Koreatown is one of the most vibrant and
densely populated districts in Southern California. Currently in the middle
of a two decade-long urban renaissance, Koreatown is one of the centers
of Los Angeles nightlife with new hotels and restaurants opening on a
weekly basis. The district is served by the Metro Red Line and Purple Line
with several new transit-oriented development projects in the pipeline. In
addition, the neighborhood is near the major employment clusters of
Downtown LA, Hollywood, and the Miracle Mile.
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Loyola Marymount University
University of Southern California
California State Univ-Los Angeles
Kenneth Hahn State Recreation Area
Santa Monica Mtns National Rec Area
Glendale Pasadena
Inglewood
East Los Angeles
Bell
Alhambra
Montebello
Playa Vista
Culver City
San Gabriel
Bell Gardens
Santa Monica
Monterey Park
Beverly Hills
West Hollywood
Huntington Park
Palms
Wilmar
Walker
Venice Maywood
Sentous
AtwaterVillage
Commerce
Westwood
Stoneman
Garvanza
Hollywood
Mar Vista
Jefferson
El SerenoEcho Park
DowntownLos Angeles
WestlakeKoreatown
Mid-Wilshire
Silver Lake
Los Feliz
San Marino
Ocean Park
Adams Square
City Terrace
Sherman Oaks
Park La Brea
Highland Park
Boyle Heights
South Pasadena
Lincoln Heights
West Los Angeles
South Los Angeles
RivieraBrentwood Park
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Location Overview
11
Los Angeles City College
Hollywood Forever Memorial Park
EDENDALE
ECHO PARK
W 3rd St
Beverly Blvd
Wilshire Blvd
W Pico Blvd
W Olympic Blvd
Melrose Ave
W 8th St
W Temple St
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W Sunset Blvd
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Santa Monica Blvd
W 7th St
Irol
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S Ra
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W 5th St
W 2nd St
Luca
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S Flo
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S H
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W 1st St
S N
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W 4th St
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Venice Blvd
Echo
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N R
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N C
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W 8th Pl
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Bellevue Ave
Ellett Pl
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W 6th St
W 4th St
W 8th St
W 5th St
W 7th St
W 2nd St
Clinton St5t
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James M Wood Blvd
W 15th St
4th
Ave
S H
udso
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W 12th St
S O
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Waring Ave
W 1st St
W Court St
Romaine St
tS anil at aC S
dvl B tr aboH S
San Marino St
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Council St
Marathon St
Willoughby Ave
S La
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Oakwood Ave
N B
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S Br
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Wiltern Theater
Aroma Wilshire Center
The Line Hotel
Chapman Plaza
Wilshire Country Club
Hancock Park Larchmont Village
Southwestern Law School MacArthur Park
Koreatown Galleria
Jamison Properties County of Los Angeles
Asiana AirlinesBBCN Bancorp
Hanmi Financial
Children’s Hospital Los Angeles
Paramount Studios
USC
Los Angeles Unified School District
707 Crenshaw Bl
NEARBY PLACES OF INTEREST ▪ Wiltern Theater
▪ Koreatown Galleria
▪ Koreatown Plaza
▪ Aroma Wilshire Center
▪ The Line Hotel
▪ Chapman Plaza
▪ Southwestern Law School
▪ MacArthur Park
▪ Larchmont Village
▪ Wilshire Country Club
▪ Hancock Park
MAJOR EMPLOYERS ▪ BBCN Bancorp
▪ Hanmi Financial
▪ Jamison Properties
▪ Asiana Airlines
▪ Children’s Hospital
Los Angeles
▪ Paramount Studios
▪ USC
▪ County of Los Angeles
▪ Los Angeles Unified
School District
Places of Interest and Major Employers
12
The Rise Koreatown (3525 W 8th St)Under construction 7-story 364-unit mixed-use development over 52,000
square feet of ground floor retail space by Cal Coast Development on the
northwest corner of 8th Street and Serrano Avenue.
411 NormandieUnder construction 7-story 224-unit multifamily development by Jamison
Services on the southwest corner of 4th Street & Normandie Avenue
3450 WilshireUnder construction 206-unit multifamily development by Jamison
Services on Irolo St across the street from the Wilshire/Normandie Metro
Station.
Audrey (700 S Manhattan Pl)Under construction 7-story 160-unit mixed-use development over 10,280
square feet of ground floor retail space by Jamison Services on the
southeast corner of 7th Street & Manhattan Place.
808 S Harvard BlvdUnder construction 6-story 131-unit mixed-use development over 4,939
square feet of ground floor retail space by Jamison Services on the
southeast corner of 8th Street & Harvard Boulevard.
3600 WilshireProposed demolition of existing parking garage adjacent to Wilshire
Financial Tower by Jamison Services to redevelop into two 23-story
apartment towers totaling 760 units and 6,400 square feet of ground floor
retail.
2900 WilshireProposed development by Hankey Investments and Jamison Services of a
31-story 644-unit apartment tower with 13,200 square feet of retail on the
southwest corner of Wilshire Boulevard and Hoover Street.
631 VermontProposed demolition of commercial buildings including a Denny’s by Jia Long
USA to redevelop into 34-story 250-unit condo tower with 200 hotel rooms.
Wilshire Galleria RedevelopmentProposed renovation of the existing 6-story Wilshire Galleria by Harridge
Development into 160-room hotel, new 7-story building with 190 condo units
over 2,300 square feet of retail & a new 35-story tower with 355 condo units over
2,800 SF retail.
Los Angeles City College
Hollywood Forever Memorial Park
EDENDALE
ECHO PARK
W 3rd St
Beverly Blvd
Wilshire Blvd
W Pico Blvd
W Olympic Blvd
Melrose Ave
W 8th St
W Temple St
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W Sunset Blvd
S V
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Vin
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Santa Monica Blvd
W 7th St
Irol
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S Ra
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W 5th St
W 2nd St
Luca
s Av
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S Flo
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S H
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Ave
W 1st St
S N
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W 4th St
S R
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Venice Blvd
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N C
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Ellett Pl
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W 4th St
W 8th St
W 5th St
W 7th St
W 2nd St
Clinton St
5th
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James M Wood Blvd
W 15th St
4th
Ave
S H
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W 12th St
S O
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Waring Ave
W 1st St
W Court St
Romaine St
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2900 Wilshire
411 Normandie
631 Vermont
Wilshire Galleria
3600 Wilshire
808 S Harvard Blvd
3450 Wilshire
The Rise Koreatown
Audrey
707 Crenshaw Bl
Nearby Developments
$57,414
13 1 MILE RING 3 MILE RING 5 MILE RINGPOPULATION SUMMARY # % # % # %
2010 Census 57,389 605,957 1,164,101
2019 Estimate 60,206 638,249 1,238,802
2024 Projection 63,074 659,169 1,286,133
Estimated Growth 2010-2019 0.52% 0.56% 0.67%
Projected Growth 2019-2024 0.94% 0.65% 0.75%
HOUSEHOLD SUMMARY # % # % # %
2010 Census 22,842 227,535 456,771
2019 Estimate 23,892 239,433 487,134
2024 Projection 24,947 247,389 507,167
Estimated Growth 2010-2019 0.49% 0.55% 0.70%
Projected Growth 2019-2024 0.87% 0.66% 0.81%
Ethnicity/Race Summary # % # % # %
White 15,473 25.7% 234,875 36.8% 511,625 41.3%
Black 3,492 5.8% 61,910 9.7% 158,567 12.8%
Asian 27,936 46.4% 128,926 20.2% 195,731 15.8%
Hispanic Origin (Any Race) 20,530 34.1% 331,251 51.9% 571,088 46.1%
Other 13,306 22.1% 212,537 33.3% 372,879 30.1%
EDUCATION SUMMARY # % # % # %
Less than 9th grade 4,380 10.0% 70,365 15.9% 120,622 13.8%
Some High School, no diploma 3,197 7.3% 39,829 9.0% 72,548 8.3%
High School Graduate 8,410 19.2% 82,756 18.7% 147,719 16.9%
GED/Alternative Credential 350 0.8% 5,753 1.3% 11,363 1.3%
Some College, no degree 6,088 13.9% 68,152 15.4% 138,978 15.9%
Associate Degree 2,234 5.1% 23,455 5.3% 47,200 5.4%
Bachelor's Degree 13,929 31.8% 108,867 24.6% 227,260 26.0%
Graduate/Professional Degree 5,169 11.8% 43,370 9.8% 109,260 12.5%
WORKPLACE & INCOME SUMMARY # % # % # %
Median Household Income $46,207 $43,088 $49,374
Average Household Income $80,007 $68,496 $80,206
All Employees 33,434 342,822 657,479
White Collar 20,696 61.9% 186,152 54.3% 395,145 60.1%
Blue Collar 4,480 13.4% 64,793 18.9% 112,429 17.1%
Services 8,258 24.7% 91,876 26.8% 150,563 22.9%
Daytime Population 57,651 558,680 1,362,401
demographics
2019 POPULATION
60,206 (+0.5% since 2010)
2024 POPULATION
63,074 (+0.9% est. over 2019)
MEDIAN AGE
38.7 years old
EDUCATION
43.6% have bachelor’s or higher
AVERAGE INCOME
$80,007
14
PRICING SUMMARY
Price $2,095,000
Price Per Unit $209,500
Price Per SF $329
Current NOI $87,322
Pro Forma NOI $165,421
Cap Rate - Current1 4.17%
Cap Rate - Pro Forma 7.90%
GRM - Current1 14.8x
GRM - Pro Forma 9.1x
PROPERTY SUMMARY
Year Built 1940
Total Units3 10
Building Area 6,362 SF
APN# 5090-032-008
Land Area 7,499 SF
Zoning LAR3
Parking 5 Spaces
RENT ROLL SUMMARY CURRENT PRO FORMA
NO. UNITS FLOOR PLANIN-PLACE
AVERAGE RENT
TOTAL MONTHLY INCOME
SCHEDULED GROSS INCOME
AVG PRO FORMA RENT
TOTAL MONTHLY INCOME
SCHEDULED GROSS INCOME LOSS TO LEASE
LOSS TO LEASE %
4 2B+1BA $1,726 $6,903 $82,841 $2,350 $9,400 $112,800 $29,959 36%
6 Studio $788 $4,726 $56,709 $1,600 $9,600 $115,200 $58,491 103%
Totals/WTD Avg. 10 $1,163 $11,629 $139,550 $1,900 $19,000 $228,000 $88,450 63%
1Current capitalization rate and GRM assume that vacant unit 709 #6 will be leased by buyer at market rent. 2In-place ssumes $1,200/year of laundry income and $75/month of parking income. Proforma assumes $1,200/year of laundry income and $125/month of parking income.3Property has an 11th non-conforming bachelor unit that is currently vacant but was leased in the past and may provide an investor with the potential for
future additional income.
Financial SummaryOPERATING STATEMENT SUMMARY
REVENUE IN-PLACE PRO FORMA
Gross Potential Rent $139,550 $228,000
Vacancy (3%) (6,840)
Net Rental Income $139,550 $221,160
Other Revenue2 2,100 2,700
Effective Gross Income $141,650 $223,860
ESTIMATED EXPENSES Per Unit Per Unit
Repairs & Maintenance 5,000 500 5,000 500
Turnover Expense 1,000 100 1,000 100
Management Fee (5%) 7,083 708 11,193 1,119
Utilities 10,900 1,090 10,900 1,090
Contract Services 1,500 150 1,500 150
Property Taxes (1.1743%) 24,601 2,460 24,601 2,460
Direct Property Tax Assessment 1,245 124 1,245 124
Insurance 3,000 300 3,000 300
Total Expenses $54,328 $5,433 $58,439 $5,844
Net Operating Income $87,322 $165,421
Expense Ratio (% of EGI) 38.4% 26.1%
$8.54 PSF $9.19 PSF
15
CURRENT PRO FORMA
UNIT2
OCCUPIED / VACANT UNIT TYPE MOVE-IN DATE
SCHEDULED INCREASE DATE CURRENT RENT1
SCHEDULED GROSS INCOME MARKET RENT
SCHEDULED GROSS INCOME LOSS TO LEASE
707 #1 Occupied 2B+1BA 8/1/2006 8/1/2020 $1,172 $14,064 $2,350 $28,200 $1,178 707 #2 Occupied 2B+1BA 8/1/2015 8/1/2020 $1,386 $16,637 $2,350 $28,200 $964 707 #3 Occupied Studio 1/13/2014 8/1/2020 $801 $9,612 $1,650 $19,800 $849 707 #4 Occupied Studio 4/1/2012 8/1/2020 $667 $8,008 $1,650 $19,800 $983 709 #1 Occupied Studio 4/1/2003 8/1/2020 $791 $9,486 $1,575 $18,900 $784 709 #2 Occupied Studio 11/23/2001 8/1/2020 $771 $9,248 $1,575 $18,900 $804 709 #3 Occupied Studio 12/19/2019 1/1/2021 $850 $10,200 $1,575 $18,900 $725 709 #4 Occupied Studio 6/1/2015 1/1/2021 $846 $10,155 $1,575 $18,900 $729 709 #5 Occupied 2B+1BA 10/1/2019 10/1/2020 $1,995 $23,940 $2,350 $28,200 $355 709 #6 Vacant 2B+1BA 9/20/2014 8/1/2020 $2,350 $28,200 $2,350 $28,200 $0 Totals 10 6,362 SF $11,629 $139,550 $19,000 $228,000 $7,371
Loss To Lease % 63%1Current monthly rent assumes that vacant unit 709 #6 will be leased by buyer at market rent.2Property has an 11th non-conforming bachelor unit that is currently vacant but was leased in the past and may provide an investor with the potential for future additional income.
Rent Roll SummaryCURRENT PRO FORMA
NO.UNITS OCCUPANCY % FLOOR PLAN AVG. IN-PLACE RENT
TOTAL MONTHLY
INCOME
AVG. PRO FORMA
RENT
TOTAL MONTHLY
INCOME LOSS TO LEASE4 40% 2B+1BA $1,726 $6,903 $2,350 $9,400 $2,497 6 60% Studio $788 $4,726 $1,600 $9,600 $4,874
Total/WTD Avg. 100% 10 $1,163 $11,629 $1,900 $19,000 $7,371 Gross Potential Income $139,550 $228,000 $88,450
Rent Roll
16
PROPERTY ADDRESS YEAR BUILT SALE DATE SALE PRICE CAP RATE GRM $PSF $ PER UNIT BLDG SF
AVG UNIT
SF
# OF
UNITS
848-850 S Kingsley Dr
Los Angeles, CA 900051938 Feb-2020 $2,250,000 4.33% 15.5 $432 $250,000 5,208 579 9
1021 S Kingsley Dr
Los Angeles, CA 900061958 Jan-2020 $1,370,000 1.86% 22.3 $373 $228,333 3,672 612 6
538 S Oxford Ave
Los Angeles, CA 900201966 Sep-2019 $5,250,000 3.30% 19.4 $304 $218,750 17,280 720 24
5012 Maplewood Ave
Los Angeles, CA 900041961 Mar-2019 $1,785,000 3.47% 15.5 $288 $223,125 6,188 774 8
TOTAL / AVERAGE $10,655,000 3.36% 18.0 $329 $226,702 32,348 688 47
707 CRENSHAW BL 1940 $2,095,000 4.17%1 14.81 $329 $209,500 6,362 636 10
Sales Comparables
1Current capitalization rate and GRM assume that vacant unit 709 #6 will be leased by buyer at market rent.
17
Rosedale Cemetery
Wilshire Country Club
HANCOCK PARK
WESTLAKE
LARCHMONT
OLYMPIC PARK
WINDSOR SQUARE
MACARTHUR PARK
HARVARD HEIGHTS
RAMPART VILLAGE
WILSHIRE CENTER-KOREATOWN
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5012 Maplewood Ave
538 S Oxford Ave
848-850 S Kingsley Dr
1021 S Kingsley Dr
707 Crenshaw Bl
Sales Comparables
18
PROPERTY ADDRESS UNIT TYPE RENT COMMENTS
1121 S Norton Ave Studio $1,595
This is a gorgeous unit that is renovated in the 90019 area of Los Angeles. This is a second story unit featuring
a large kitchen, on sight laundry, wood flooring, plenty of closet space, a spacious living room, an upgraded
shower, and recessed lighting. This unit has a wonderful charm on the exterior from its origin. Furthermore. the
newly renovated interior modern features make it a great home for everyone.
620 S Gramercy Pl Studio $1,650 482 Sq Ft. Night shift security on site and 24 hours security during weekends. Surveillance cameras throughout
the complex. Amenities include, rooftop swimming pool, spa, dry sauna, and gym.
1316 Fedora St Studio $1,625 Newly renovated unit comes with laminate flooring throughout, granite countertop, and stainless-steel
appliances.
417 S Kenmore Ave Studio $1,650 515 Square Feet. The community offers newly renovated spacious studio apartments featuring hardwood-
inspired flooring, spacious closets, fireplace and brand new stainless steel appliances. No on-site amenities
3850 W 7th St Studio $1,600
Stunning studio apartment in Koreatown. Spectacular recently remodeled studio in hip and trendy Koreatown.
Open floor plan studio with AC, custom tile in the bathroom and kitchen, stainless steel appliances including
refrigerator, hardwood flooring, new paint, recessed lighting, ample closets, storage space, on site laundry and
secured gated access.
Rent Comparables
19
PROPERTY ADDRESS UNIT TYPE RENT COMMENTS
1207 S Serrano Ave 2B+1BA $2,350 Balcony, tile floors in living area, granite countertops, stainless steel appliances, carpet floors in bedrooms.
848 S. Oxford Ave 2B+1BA $2,450
Newly remodeled Spanish style unit. Brand new appliances; New kitchen cabinets
Restored kitchen countertops; New designer light fixtures throughout; New stainless steel hardware; New
pedestal sink; Refinished parquet hardwood floors; High ceilings throughout.
3148 James M Wood Bl 2B+1BA $2,350
Newly remodeled unit features new cabinets which are perfect for storage. The floating shelves allow you to add
a pop of character to your kitchen. The new appliance package includes a floating microwave, stove, refrigerator
& dishwasher. There is also a dedicated bar area! The bathroom has been newly remodeled with herringbone
& honeycomb tile. The large shower has been enclosed in glass. The double sink vanity offers a large amount of
space & storage. The bedroom has a large walk-in closet, an A/C unit and recessed lighting.
439 S St. Andrews Pl 2B+1.5BA $2,365 Updated unit, hardwood floors, new stainless steel appliances, freshly painted, garage parking
SUMMARY
UNIT TYPE # OF UNITS AVG RENT
SUBJECT
PROPERTY
Studio 5 $1,624 $1,575 & $1,650
2B+1BA 3 $2,379 $2,350
Rent Comparables
20
Rosedale Cemetery
Wilshire Country Club
HANCOCK PARK
WESTLAKE
LARCHMONT
OLYMPIC PARK
WINDSOR SQUARE
MACARTHUR PARK
HARVARD HEIGHTS
RAMPART VILLAGE
WILSHIRE CENTER-KOREATOWN
W 3rd St
Beverly Blvd
W Pico Blvd
Wilshire Blvd
Venice Blvd
W Olympic Blvd
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W 4th St
W 8th St
W 5th St
W 2nd St
Clinton St
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W 7th St
evA ht4
W 11th St
W 9th St
James M Wood Blvd
W 1st St
W 15th St
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439 S St Andrews Pl417 S Kenmore Ave
1121 S Norton Ave
620 S Gramercy Pl
3850 W 7th St
848 S Oxford Ave 3148 James M Wood Bl
1316 Fedora St
1207 S Serrano Ave
707 Crenshaw Bl
Rent Comparables
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601 S. Figueroa Street, Suite 3650Los Angeles, CA 90017
Copyright © 2020 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
Josh KaplanManaging Director213.430.2538 [email protected] Lic 01934177
John SwartzManaging Director213.430.2526 [email protected] Lic 01873487
Troy LuceroSenior [email protected] Lic 02015705
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