7028 Alabama Ave...7028 Alabama AveCanoga Park, CA 91303. Exclusively Listed by: Kelly Morgan |...

Exclusively Listed by:Kelly Morgan | [email protected] 01898026

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7028 Alabama AveCanoga Park, CA 91303


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All materials and information received or derived from Kelly Morgan CommercialGroup, its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, oraccuracy, condition of the property, compliance or lack of compliance with applicablegovernmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended useor any and all other matters.

Neither Kelly Morgan Commercial Group, its directors, officers, agents, advisors, oraffiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the any materials or information provided, derived, or received.Materials and information from any source, whether written or verbal, that may befurnished for review are not a substitute for a party’s active conduct of its own duediligence to determine these and other matters of significance to such party. KellyMorgan Commercial Group will not investigate or verify any such matters or conductdue diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUEDILIGENCE. Any party contemplating or under contract or in escrow for a transaction isurged to verify all information and to conduct their own inspections and investigationsthrough appropriate third party independent professionals selected by such party. Allfinancial data should be verified by the party including by obtaining and readingapplicable documents and reports and consulting appropriate independentprofessionals.

7028 Alabama Ave Canoga Park, CA 91303

CONFIDENTIALITY AGREEMENT

Kelly Morgan Commercial Group makes no warranties and/or representationsregarding the veracity, completeness, or relevance of any financial data or assumptions.Kelly Morgan Commercial Group does not serve as a financial advisor to any partyregarding any proposed transaction. All data and assumptions regarding financialperformance, including that used for financial modeling purposes, may differ fromactual data or performance.

Any estimates of market rents and/or projected rents that may be provided to a partydo not necessarily mean that rents can be established at or increased to that level.Parties must evaluate any applicable contractual and governmental limitations as wellas market conditions, vacancy factors and other issues in order to determine rentsfrom or for the property. Legal questions should be discussed by the party with anattorney. Tax questions should be discussed by the party with a certified publicaccountant or tax attorney.

Title questions should be discussed by the party with a title officer or attorney.Questions regarding the condition of the property and whether the property complieswith applicable governmental requirements should be discussed by the party withappropriate engineers, architects, contractors, other consultants and governmentalagencies. All properties and services are marketed by KW Commercial-Santa Monica incompliance with all applicable fair housing and equal opportunity laws.


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1 T H E P R O P E R T Y

2 L O C A T I O N O V E R V I E W

3 M A R K E T O V E R V I E W

4 F I N A N C I A L A N A L Y S I S

5 S O L D C O M P S

6 A C T I V E C O M P S

7 R E N T C O M P S

TABLE OF CONTENTS


1The Property


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OFFERING SUMMARY

Sale Price: $2,050,000

Number Of Units: 10 (1+1)

GRM: 14.18

Cap Rate: 3.69%

Price / Unit: $205,000

Price/SF: $286

NOI: $75,739

Building Size: 7,167 SF

Lot Size: 7,501 SF

Year Built: 1977

Zoning: R3-LA



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SALE HIGHLIGHTS

• One Mile From The New Multi-Billion Dollar Downtown San FernandoValley at Warner Center

• Low Cost/Unit of $205,000• Current GRM of 14.18 with upside to a 10.52 GRM• Potential: 6.07 % Cap rate & 6.25% Cash on Cash• Potential 35% Rental Increase• 6.9% Effective Annualized Rent Increase within a 3 mile radius• Excellent Unit Mix of Ten (1+1) Units subject to rent control• Transit Priority Area/T.O.C. Tier-2• 12 Parking Spaces



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7028 Alabama Avenue is a Well-Positioned Opportunity to take Advantage of the NewDowntown San Fernando Valley at Warner Center. The Warner Center is currentlyundergoing a Multi-Billion Dollar Makeover as it turns itself into the Downtown of the SanFernando Valley. 7028 Alabama, being less than a mile from the Warner Center, allowsForward Thinking Investors the Opportunity to Purchase an Undervalued Asset that shouldpotentially profit from the changing face of the Warner Center.

It has been proven that new developments change neighborhoods just as the communitiesclose to the Grove have done on the Westside of Los Angeles. Similarly communities closeto the Americana at Brand in Glendale have seen great market value increases. With thisburgeoning expansion and far greater capital infusion to the Warner Center DowntownMakeover we expect to see the same if not much larger growth in communitiessurrounding the Warner Center.

LOCATION OVERVIEW



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Exclusively Listed by:Kelly Morgan | [email protected] CalDRE #01898026


2Location Overview


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WARNER CENTER 2035 PLAN

• The Plan is a bold, long-term blueprint that is creating a new downtown for the Valley by making the Warner Center a mixed-use, transit-oriented,lively district where new neighborhoods of tree-lined streets lead to vibrant avenues. Big blocks are being broken up to become intimate andaccessible. In the Valley of the near future, pedestrian pathways allow for walkable communities where low- and no-emission vehicles areencouraged. Homes and workplaces are brought closer together creating a more sustainable future for us all

• The following pages outline the preponderance of large development projects underway in the plan area totaling Hundreds of Millions of Dollarsthat far surpass the successful developments such as The Grove and Americana at Brand that have proven to dramatically increased rents andhome values. In fact average rental prices have already soared 33 percent in the five years since the plan was adopted


WARNER CENTER 2035 PLAN ADOPTED FIVE YEARS AGO IS CREATING A NEW KIND OF URBAN CENTER TO LIVE, WORK & PLAY


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THE GROVE

• When The Grove was built in 2002, the neighborhood was more athrough-way than a place to stop and shop. Now the $100-milliondollar project on 25 acres is one of the highest grossing shoppingcenters in the country

• It successfully offers a place where people can spend a whole dayshopping, eating and connecting with friends both new and old

• The Grove has substantially increased rents and home values in thelocal community and grown to become an attraction for touristsaround the world

THE AMERICANA AT BRAND

• The Americana at Brand, a $400-Million Dollar development on 15.5acres modeled after The Grove has also brought astounding success

• What was originally a blighted area in the center of Glendale is not onlya Major Shopping Destination for people through-out Los Angeles, buta catalyst for the accelerating revitalization of the entire Glendalecommunity

• Apartments in the area of the Americana at Brand achieve rents whichare 30% above market and are 98% leased


NEW DEVELOPMENTS CHANGE NEIGHBORHOODS


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DOWNTOWN SFV AT WARNER CENTER/PARTIAL LIST OF NEW DEVELOPMENTS "HYPERLINKED"

https://urbanize.la/post/271-unit-apartment-complex-rises-warner-center

https://urbanize.la/post/warner-centers-q-east-rises-variel-erwin

https://urbanize.la/post/two-developments-bringing-over-500-apartments-warner-center

https://urbanize.la/post/renderings-unveiled-358-unit-warner-center-development

https://urbanize.la/post/new-details-warner-centers-burbankde-soto-development

https://urbanize.la/post/first-look-warner-centers-6801-canoga-development

https://urbanize.la/post/two-residential-tower-planned-warner-center

https://urbanize.la/post/five-story-275-unit-apartment-complex-proposed-warner-center

https://urbanize.la/post/first-look-latest-warner-center-development

https://urbanize.la/post/six-story-174-unit-apartment-complex-rises-warner-center

https://urbanize.la/post/another-multi-phase-project-pitched-warner-center

https://urbanize.la/post/more-apartments-under-construction-warner-center

https://urbanize.la/post/home2suites-hilton-hotel-coming-warner-center

https://urbanize.la/post/proposed-warner-center-development-calls-apartments-and-office-tower

https://urbanize.la/post/two-mixed-use-developments-make-progress-warner-center

https://urbanize.la/post/five-story-18-unit-condo-complex-rises-warner-center

https://urbanize.la/post/assisted-living-facility-medical-offices-and-hotel-planned-warner-center

https://therealdeal.com/la/2018/04/26/sandstone-properties-plans-184-unit-resi-at-warner-center/


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$3 BILLION DOLLAR DEVELOPMENT FOR 47 ACRE ROCKETDYNE SITE/RESIDENTIAL/OFFICE/RETAIL/HOTEL



Q-WEST/347 LUXURY UNITS-20,000 SF COMMERCIAL



Q-EAST/241 LUXURY UNITS-46,000 SF RETAIL & COMMERCIAL



DE SOTO & BURBANK/1,029 LUXURY UNITS, 228 LUXURY HOTEL SUITES, 1.25 MILLION SF OFFICE/RETAIL/RESTAURANTS



21425 VANOWEN/174 LUXURY UNITS



6801 CANOGA/154 LUXURY UNITS



21121 VANOWEN/101 LUXURY UNITS-3,800 SF COMMERCIAL



6800 VARIEL/18 LUXURY CONDOS



20944 VANOWEN/37 LUXURY UNITS



6606 VARIEL/271 LUXURY UNITS



6109 DE SOTO/358 LUXURY UNITS-70,000 SF COMMERCIAL



5957 VARIEL/HILTON HOTEL-174 LUXURY SUITES



21300 CALIFA/206 LUXURY UNITS-3,000 SF RETAIL

3Market Overview


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HOUSING CRISIS DEFINED

• Harvard's Joint Center for Housing Studies reported that L.A. needs382,000 additional apartments to keep up with demand

• Los Angeles Permitted Only 15,533 in 2017 and averaged only 14,700permits over the past four years

• From 2016 to 2017 Los Angeles gained 42,470 people

• Additionally Los Angeles County added 37,000 jobs in 2017 which reflectsa county close to full employment

• Salaries have recently increased 4% per year

• This likely means even higher rents for Los Angeles


LOS ANGELES HAS A HOUSING CRISIS


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LOS ANGELES' GROWING HOUSING CRISIS

• In the 1960’s zoning in Los Angeles allowed for 10 Million residents.However, in the 1980’s the city down-zoned most of the city therebyreducing the city's allowable density. This reduced the amount of housingthat could be built to only accommodate 4.3 Million residents

• In 2017 Los Angeles reached 4 Million residents and is currently at 92% ofit’s total capacity

• Single family home-owners opposed to density have made it increasinglydifficult to build densely in Los Angeles

• Single family homes control 80% of L.A.’s residential land


LOW DENSITY ZONING IN THE 1980'S NOW MAKES THE LOS ANGELES HOUSING CRISIS WORSE THAN SAN FRANCISCO


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LOS ANGELES' RENTS OUTPACING SAN FRANCISCO

• San Francisco once again claimed the highest rents statewide

• A Two Bedroom in San Francisco rents for $4,730 which at the moment is74% higher than in Los Angeles

• Meanwhile Los Angeles places 4th for strongest rent increase over lastyear and has a Two Bedroom price tag on average of $2,710. Only LongBeach, Anaheim and San Diego had higher rent increases

• Greater Los Angeles' housing stock grew by 8.6 percent since 1996

• San Francisco's grew by 12.3 percent


HOW HIGH CAN RENTS GO? RENTS IN LOS ANGELES SHOOTING UP FASTER THAN IN SAN FRANCISCO


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MULTI-FAMILY RENTS CONTINUE TO CLIMB

• San Francisco ($492,500/unit) was the highest priced multifamilyinvestment market over the last 12 months. Its local economy has beenboosted by the expansion of the technology sector, while opposition tonew development has limited new supply

• Meanwhile Los Angeles County is leading the way in job growth, businesscreation and is 4th for strongest rent increase behind Long Beach,Anaheim and San Diego

• The Los Angeles County economy accounted for nearly one - fifth of alljobs created in California last year, placing it way ahead of every othercounty in terms of absolute job growth

• According to a report by the L.A. County Economic DevelopmentCorporation Los Angeles County now has more high-tech sector jobs thanany other area in the country, including New York City, San Francisco, andSanta Clara County in the heart of the Silicon Valley

• In turn, the housing market will continue to ramp up, having seen heftyincreases in rents, home sales, and prices over the past year


THINK MULTI-FAMILY PRICES CAN'T GO ANY HIGHER?


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LOS ANGELES POPULATION EXPLOSION CONTRIBUTES TO RENTAL INCREASE

The young millennial population (Echo-Boomers) now exceeds80 million people, which is more than the Baby-Boomergeneration. Most of these young people have either been livingwith their parents or doubling up. Now that the economy hasbegun adding jobs these young kids are rapidly moving out ontheir own. With housing prices so high they are forced to rentapartments. However, with only a 3% vacancy rate in LosAngeles there is literally no housing for them to live in.

When demand exceeds supply prices go up which is exactlywhat is happening in Los Angeles. With this minuscule supplyand the constantly increasing excess in demand the LosAngeles rental market shows no signs of slowing down anytime soon.

When we combine the huge influx of population with limitedcapacity for both housing and transportation we then have aneed for a solution that moves forward on both of thesepressing issues. Transit Oriented Development and theTransit Oriented Community go hand in hand to provide asolution to our long-term shortages. In our analysis propertyvalues therefore in these zones will tend toward higherappreciation for investors in terms of rents and propertyvalues.


HOW CAN L. A. HOUSING ABSORB THE HUGE INFLUX OF POPULATION WITH ONLY A 3% VACANCY RATE AND FREEWAYS ALREADY WAY OVER CAPACITY?


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LOS ANGELES NEW ZONING STILL NOT ENOUGH TO AVERT HOUSING CRISIS

In September of 2017 the city passed the first ordinance to allow forincreased density along major Transit Corridors. This allows for the growthof Transit Oriented Communities. This is not a recreation of the wheel but acopying of the railroad model of the past. The vast majorities of cities acrossthe country were built from the rail-line outward in order to develop andpopulate our country. The idea is to form communities where people canlive, work, shop and socialize directly in their neighborhoods while allowingthe free-flow of movement along the Transit Oriented Corridors. The City iscurrently implementing this strategy by building a modern rail-line system.Property Values in close proximity to these central locations becomeextremely valuable.

Freeways in Los Angeles have been obsolete almost from the moment theywere completed and they have only gotten worse. One of the goals of theTransit Oriented Development is to attempt to alleviate the congestedFreeways. This change in policy will certainly help but will certainly not fullyalleviate the increased demand. In our opinion Real Estate values and Rentswill continue to rise. Even though we are moving forward we will not be ableto outpace population growth with housing growth.


LOS ANGELES IMPLEMENTS NEW ZONING REGULATIONS IN AN ATTEMPT TO ALLEVIATE THE HOUSING CRISIS


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RENTS RISE HIGHER ALONG TRANSIT CORRIDORS

• According to a recent UCLA/Berkeley study transit-adjacent L.A. neighborhoods gentrify at higher rates than other neighborhoods

• Previous Studies across the country have noted how new public transit stops drive up nearby rental prices – we’re talkin’ 25-67%

• Median rent prices jumped 46% along LA’s new Expo metro line

• A recent study found that rents increased more quickly in transit areas across the country than in the surrounding metropolitan areas

• In nearly three-quarters of transit-rich developments, neighborhood rents increased faster than those in metro areas


WHERE ARE RENTS GOING TO INCREASE THE MOST?


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LOS ANGELES CITY PLANNING TURNS IT'S EYES TO THE SFV ORANGE LINE

• Last month, the Los Angeles City Planning Commission approved theproposed Exposition Corridor Transit Neighborhood Plan. Now the Cityturns its eyes towards similar land use and zoning regulations for stationsaround the San Fernando Valley's popular Orange Line Busway

• Although the Orange Line covers 18 miles and 18 stations betweenChatsworth and North Hollywood, the proposed Transit NeighborhoodPlan (TNP) only targets five stations: Sherman Way, Reseda, Sepulveda,Van Nuys and the North Hollywood terminus. Each of these stops islocated along key arterials with connections to other local bus routes

• 7028 Alabama is located within the Sherman Way TransitNeighborhood Plan (TNP) which will continue to improve the qualityof the neighborhood and increase rents


INITIAL CONCEPTS REVEALED FOR ORANGE LINE TRANSIT NEIGHBORHOOD PLAN

4Financial Analysis


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FINANCING

Down $1,014,750Loan $1,035,250Years 30Interest Rate 4.5%Payments $5,536/Month

TYPE # OF UNITSCURRENT

RENTMARKET RENT CURRENT RENTS ANNUALIZED MARKET RENTS ANNUALIZED

1+1 10 $1,175 $1,595

Totals/Averages 10 $11,759 $15,950 $141,105 $191,400

PRICING

Sale Price: $2,050,000

Price / Unit: $205,000

Price / SF: $286.03

GRM: 14.18

Cap Rate: 3.69%

THE ASSET

Number Of Units: 10

Year Built: 1977

Available SF: 7,501 SF

Lot Size: 7,167 SF

APN: 2138-013-007


CURRENT FINANCIAL ANALYSIS


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INCOME SUMMARY CURRENT RENT MARKET RENT

Gross Rents $141,105 $191,400Laundry $1,080 $1,080Parking $1,200 $1,200Capital Improvements (ends 11-1-2022) $481 $481Capital Improvements (ends 9-1-2024) $254 $254S.C.E.P. $433 $433

Gross Income $144,555 $194,850

EXPENSE SUMMARY CURRENT RENT MARKET RENT

Taxes (pro-forma) $25,625 $25,625Insurance (pro-forma) $3,421 $3,421Utilities (actual) $19,060 $19,060Trash (actual) $3,473 $3,473Gardener (actual) $1,190 $1,190Off-Site Manager (pro-forma) $7,010 $7,010Misc/Reserves (actual) $1,204 $1,204Maint/Repairs (actual) $3,492 $3,492

Gross Expenses $64,479 $64,479

Net Operating Income $75,739 $124,525



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INVESTMENT OVERVIEW CURRENT RENT MARKET RENT

Price $2,050,000 $2,050,000Price per Unit $205,000 $205,000GRM 14.2 10.5CAP Rate 3.7% 6.1%Cash-on-Cash Return (yr 1) 1.45 % 6.25 %Total Return (yr 1) $29,731 $78,516Debt Coverage Ratio 1.2 1.2

OPERATING DATA

Gross Scheduled Income $141,105 $191,400Other Income $3,450 $3,450Total Scheduled Income $144,555 $194,850Vacancy Cost $4,336 $5,845Gross Income $140,219 $189,004Operating Expenses $64,479 $64,479Net Operating Income $75,739 $124,525Pre-Tax Cash Flow $14,663 $63,449

FINANCING DATA

Down Payment $1,014,750 $1,014,750Loan Amount $1,035,250 $1,035,250Debt Service $61,075 $61,075Debt Service Monthly $5,089 $5,089Principal Reduction (yr 1) $15,067 $15,067



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UNITNUMBER

UNITBED

UNITBATH

LEASESTART

CURRENTRENT

MARKETRENT

SECURITYDEPOSIT

1 1 1 03/05/16 $1,166 $1,595 $1,600

2 1 1 06/30/09 $1,119 $1,595 $995

3 1 1 03/01/18 $1,400 $1,595 $1,400

4 1 1 05/01/14 $1,069 $1,595 $1,900

5 1 1 12/01/16 $1,287 $1,595 $1,250

6 1 1 06/01/12 $984 $1,595 $775

7 1 1 05/01/16 $1,220 $1,595 $1,150

8 1 1 08/01/18 $1,400 $1,595 $1,900

9 1 1 06/22/14 $1,069 $1,595 $950

10 1 1 08/01/13 $1,041 $1,595 $925

Totals/Averages $11,758 $15,950 $12,845


RENT ROLL

5Sold Comps


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SUBJECT PROPERTY

Canoga Park, CA 913037028 Alabama Ave

$2,050,000Sale Price: 1977Year Built:7,167 SFBuilding SF: $286.03Price PSF:10No. Units: $205,000Price / Unit:3.69%Cap: 14.18GRM:$75,739NOI:

UNIT TYPE # UNITS RENT

1+1 10 $1,175

TOTAL/AVG 10 $1,175

1

$880,000Sale Price: 1924Year Built:2,133 SFBuilding SF: $412.56Price PSF:5No. Units: $176,000Price / Unit:3.33%Cap: 04/03/2018Closed:14.28GRM:

UNIT TYPE # UNITS % OF

S 2 40

1+1 3 60

TOTAL/AVG 5 100%

7332 ALABAMA AVECanoga Park, CA91303

1

2

$5,050,000Sale Price: 1962Year Built:23,413 SFBuilding SF: $215.69Price PSF:25No. Units: $202,000Price / Unit:4.88%Cap: 09/06/2017Closed:11.76GRM:


1+1 4 16

2+1 7 28

2+2 9 36

3+2 5 20

TOTAL/AVG 25 100%

7237 VARIEL AVECanoga Park, CA91303

2


SOLD COMPS


46

3



1+1 9 90

2+1 1 10

TOTAL/AVG 10 100%

7357 VARIEL AVECanoga Park, CA91303

3

4



1+1 2 6.1

2+1.5 29 87.9

3+2 2 6.1

TOTAL/AVG 33 100%

21909 LANARK STCanoga Park, CA91303

4

5

$4,385,000Sale Price: 1970Year Built:20,174 SFBuilding SF: $217.36Price PSF:25No. Units: $175,400Price / Unit:4%Cap: 06/26/2017Closed:13.12GRM:


S 2 8

1+1 12 48

2+2TH 11 44

TOTAL/AVG 25 100%

8380 NORTHGATE AVECanoga Park, CA91303

5


SOLD COMPS


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6



1+1 20 74.1

2+1 5 18.5

2+2 1 3.7

3+2 1 3.7

TOTAL/AVG 27 100%

20414 COHASSET STCanoga Park, CA91303

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SOLD COMPS


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PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS

7028 Alabama Ave

Canoga Park, CA 91303

$2,050,000 7,167 SF $286.03 $205,000 3.69% 14.18 10

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE

7332 Alabama AveCanoga Park, CA91303

$880,000 2,133 SF $412.56 $176,000 3.33% 14.28 5 04/03/2018

7237 Variel AveCanoga Park, CA91303

$5,050,000 23,413 SF $215.69 $202,000 4.88% 11.76 25 09/06/2017

7357 Variel AveCanoga Park, CA91303

$1,975,000 6,768 SF $291.81 $197,500 4.98% 12.3 10 02/13/2018

21909 Lanark StCanoga Park, CA91303

$6,515,000 30,091 SF $216.51 $197,424 4.86% 11.99 33 06/30/2017

8380 Northgate AveCanoga Park, CA91303

$4,385,000 20,174 SF $217.36 $175,400 4.0% 13.12 25 06/26/2017

20414 Cohasset StCanoga Park, CA91303

$4,751,000 17,990 SF $264.09 $175,962 3.95% 13.67 27 09/08/2017

1

2

3

4

5

6

SUBJECT PROPERTY


SOLD COMPS SUMMARY

11.76 11.99 12.30 13.12

13.67 14.18 14.28

7237 Variel 21909 Lanark 7357 Variel 8380 Northgate 20414 Cohasset 7028 Alabama 7332 Alabama

GRM

4.98% 4.88% 4.86%

4.00% 3.95% 3.69%

3.33%

7357 Variel 7237 Variel 21909 Lanark 8380 Northgate 20414 Cohasset 7028 Alabama 7332 Alabama

Cap Rate

$175,400 $175,963 $176,000

$197,424 $197,500

$202,000

$205,000

8380 Northgate 20414 Cohasset 7332 Alabama 21909 Lanark 7357 Variel 7237 Variel 7028 Alabama

Price/Unit

$216 $217 $217

$264 $286 $292

$413

7237 Variel 21909 Lanark 8380 Northgate 20414 Cohasset 7028 Alabama 7357 Variel 7332 Alabama

Price/SqFt


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SOLD COMPS GRAPHS


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7028 Alabama Ave | Canoga Park, CA 91303SUBJECT PROPERTY

1

Canoga Park, CA91303

7332 ALABAMA AVE

2


7237 VARIEL AVE

3


7357 VARIEL AVE

4


21909 LANARK ST

5


8380 NORTHGATE AVE

6


20414 COHASSET ST


SOLD COMPS MAP

6Active Comps


52

SUBJECT PROPERTY

7028 Alabama Ave | Canoga Park, CA 91303

$2,050,000Sale Price: 0.17 ACLot Size:

1977Year Built: 7,167 SFBuilding SF:

$286.03Price PSF: 10No. Units:

$205,000Price / Unit: 14.18GRM:

3.69%Cap: $75,739NOI:

1

20554 HARTLAND ST

Winnetka, CA 91306

$1,349,000Sale Price: 7,039 SFLot Size:

1956Year Built: 4,650 SFBuilding SF:

$290.11Price PSF: 6No. Units:

$224,833Price / Unit: 3.87%CAP:

07/06/2018Closed: 14.44GRM:

1


ACTIVE COMPS


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PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS

7028 Alabama Ave

Canoga Park, CA 91303

$2,050,000 7,167 SF $286.03 $205,000 3.69% 14.18 10

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS

20554 Hartland StWinnetka, CA91306

$1,349,000 4,650 SF $290.11 $224,833 3.87% 14.44 61

SUBJECT PROPERTY


ACTIVE COMPS SUMMARY

14.18

14.44

7028 Alabama 20554 Hartland

GRM

3.87%

3.69%

20554 Hartland 7028 Alabama

Cap Rate

$205,000

$224,833


Price/Unit

$286

$290


Price/SqFt


54


ACTIVE COMPS GRAPHS


55


1

Winnetka, CA91306

20554 HARTLAND ST


ACTIVE COMPS MAP

7Rent Comps


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SUBJECT PROPERTY

Canoga Park, CA 913037028 Alabama Ave

UNIT TYPE # UNITS RENT

1+1 10 $1,175

TOTAL/AVG 10 $1,175

1

UNIT TYPE RENT

1+1 $1,595

7242 DE SOTO AVECanoga Park, CA91303

1

2

UNIT TYPE RENT

1+1 $1,600

7240 VASSAR AVECanoga Park, CA91303

2


RENT COMPS


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3

UNIT TYPE RENT

1+1 $1,715

21045 VANOWEN STCanoga Park, CA91303

3

4

UNIT TYPE RENT

1+1 $1,600

7003 REMMET AVECanoga Park, CA91303

4


RENT COMPS


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1


7242 DE SOTO AVE

2


7240 VASSAR AVE

3


21045 VANOWEN ST

4


7003 REMMET AVE



RENT COMPS MAP



KELLY MORGANSenior Agent

[email protected]

CalDRE 01898026

READY TO BUY OR SELL?

Contact Us to Learn More aboutHow We Can Help You!

Morgan's strength and expertise in multi-family real estate is a product ofhis years of experience in investments and production. Kelly spent ten

years in the real estate investments and securities business raising millionsof dollars for venture capital investments.

Prior to the securities business, Kelly spent 13 years producing televisioncommercials and complex photo shoots for major advertising clients such

as McDonalds, Hyundai, Proctor & Gamble, Kraft and Pizza Hut. Thecommercial advertising's complex production process and intricate clientmanagement forged skills that are incomparable in managing major real

estate transactions.”

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