Marketing Package 4742 Sepulveda Boulevard
Transcript of Marketing Package 4742 Sepulveda Boulevard
4742 Sepulveda BoulevardMarketing Package
Table of Contents4742 Sepulveda Boulevard
© Compass 2021 | All Rights Reserved by Compass | Made in NYCCompass is a licensed real estate broker (01991628) in the State of California and abides by Equal HousingOpportunity laws. All material presented herein is intended for informational purposes only. Information is compiledfrom sources deemed reliable but is subject to errors, omissions changes in price, condition, sale, or withdraw withoutnotice. No statement is made as to accuracy of any description. All measurements and square footages areappropriate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is notintended to solicit property already listed.
Presented By:
Ben Kreitenberg
(818) 454-8268
DRE# 02103370
Max Berger
(818) 321-4972
DRE# 02054048
Neighborhood Overview
Neighborhood Description
Nearby Developments
Nearby Hotspots
Property Overview
Property Description
Professional Photography - Exterior
Professional Photography - Interior
Drone Photography
Comparables
Sales Comparables
Rental Comparables
4742 Sepulveda Boulevard
NeighborhoodOverview
Sherman Oaks, CAA Family-Friendly Suburb with Metropolitan Amenities
Sherman Oaks is a quiet suburb that allows for city conveniencewhile a�ording small-town peacefulness. Nestled between VanNuys and Valley Village to the north, Studio City and Encinoto the east and west and Bel Air to the south, Sherman Oakstruly lies at the center of San Fernando Valley life. Sherman Oakshas all the comfort and convenience of an a�uent suburb -clean streets, upscale malls and multiple parks make for easyliving. Additionally, its close proximity to the 101 and 405freeways o�er quick access to Hollywood, Downtown and theWestside.
Ventura Boulevard serves as the major neighborhood artery. Thiswalkable stretch features quirky independent shops, high-fashionboutiques, delightful co�ee-houses, chic little restaurants ando¡ce towers. Ventura stretches clear across the San FernandoValley, so you’ll never run out of fascinating spots to explore.Located along the boulevard is the Sherman Oaks Galleria,which hosts a vibrant business and diverse tenant communityduring the day and transforms into a lively shopping, dining andentertainment destination during the evening and weekends.
Despite the modern amenities, Sherman Oaks prides itself on
is comprised of families holding high-income positions innumerous industries, who seek comfort in a close-knitcommunity and are still attracted to the modern amenities of a
Neighborhood Overview
Sherman OaksMarket DemographicsAge Distribution of Residents (Over 52% of Sherman
Oaks residents are between 25-54):
- 18-24 Years Old: 6%
- 35-44 Years Old: 16%
- 55-64 Years Old: 12%
- 25-34 Years Old: 21%
- 45-54 Years Old: 15%
- 65 + Years Old: 14%
Income Distribution of Residents (Over 58% of Sherman
Oaks household incomes are greater than $75,000):
- Less than $25,000: 13%
- $45K - $74K: 18%
- $150K: 28%
- $25K - $40K: 11%
- $75K - $149K: 30%
Median Household Income in 2019
- Sherman Oaks: $123,665
- California: $80,440
Single-Family Home Sales in 2020
- Average Sold Price: $1,632,429
- High Price: $9,500,000
- Average Price per SF: $639
Nearby Developments
1) Sepulveda Boulevard & Camarillo StreetLocated across the street from the subject property andapproved by the City Council in 2013, plans call for theconstruction of a sprawling low-rise complex comprised of325 rental units, 44,000 SF of retail space.
With plans recently approved, the proposed six-story projectwill feature 33 one- and two-bedroom apartments atop2,300 SF of ground-floor retail and semi-subterraneanparking for 49 vehicles.
3) Sepulveda Pass METRO LineMETRO has unveiled four options that would connect theVan Nuys and Sherman Oaks communities with the Westside.The variations would start at the Van Nuys Metrolink station(with stops at Sherman Way and Ventura Boulevard) andwould end at a station at the heart of the UCLA campus.
4) Hazeltine Avenue & Riverside DriveRecently approved, plans call for the construction of a seriesof three-story buildings comprised of 249 apartments and27,000 SF of ground-floor commercial space.
5) 14534 Burbank BoulevardThe proposed development calls for a four-story buildingcomprised of 55 residential units for low- and very-low-income seniors.
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4) Hazeline Ave. & Riverside Dr.
Massive redevelopment project by the City of Los Angeles3) Vermont Corridor Project
2) 15027 W. Ventura Blvd.
Currently in pre-construction, will feature 428 condos and 30,000 SF of commercial space.1) 3545 Wilshire Boulevard
Address
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5) 14543 Burbank Boulevard
3) Sepulveda Pass METRO Line
1) Sepulveda Blvd. & Camarillo St.
Plans call for the devlopment of 249 apartments and 27,000 SF of commercial space
33 apartments atop 2,300 SF of ground-floor retail and semi-subterranean parking
Plans call for 55 apartments designated for low-income senior housing
Four options that would connect Van Nuys and Sherman Oaks communities with the Westside
Plans call for the development of 325 rental units and 44,000 SF of retail space
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Nearby Developments
Sepulveda PassMETRO Extension Plan- In March, METRO sta� will recommend to approve a
contract bid which would connect the San Fernando
Valley with the Westside.
- The project would provide a one-way trip from the
- An eventual extention south to LAX would result in a
- METRO forecasts that the line will attract between
122,000 and 137,000 daily riders based on 2042
conditions.
- Construction is expected to occur in phases between
Nearby Hotspots
1) Sherman Oaks GalleriaThe galleria is a state-of-the-art, open air lifestyle centerlocated at one of the nation’s busiest intersections. TheGalleria hosts a vibrant business and diverse tenantcommunity during the day and transforms into a livelyshopping, dining and entertainment destination during theevening and weekends. Notable tenants include:
- Solid mix of professional businesses spread across700,000 SF of Class A o¡ce space- 24 Hour Ftness - ArcLight Cinemas- Burke Williams- Frida Mexican Cuisine
A large indoor mall home to a curated mix of fashion, diningand lifestyle retail. Prominent tenants include Macys, ShoePalace, OrangeTheory, Lush, Lululemon and more.
A dynamic and walkable strip of independently-ownedrestaurants, specialty food shops and clothing boutiquesthat pride themselves on creating a diverse and eclecticenvironment.
4) Deervale-Stone Canyon ParkOne of the more popular hiking destinations in the SFV,Deervale-Stone is a 1.8 mile trail that o�ers pristinepanoramic views of the San Fernando Valley and Westside.
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3) Ventura Boulevard
2) Westfield Fashion Square
1) Sherman Oaks Galleria
One of the more popular hiking destinations in the San Fernando Valley
Walkable strip of independently-owned restaurants and specialty food shops
A large indoor mall home to a curated mix of fashion, dining and lifestyle retail
State-of-the-art, open air lifestyle center located at one of the nation’s busiest intersections
NotesAddress
4) Deervale-Stone Canyon Park
4742 Sepulveda Boulevard
PropertyOverview
Property Description
Bldg SF: 26,450 SF
Price: $10,600,000
APN: 2264-004-043
Lot SF: 15,176 SF
Units: 21
Zoning: LAR3
Price Per Unit: $504,762
Year Built: 2014
Kenny Stevens Team is pleased to present 4742 Sepulveda Boulevard, a
21-unit turnkey asset located across the street from the Sherman Oaks
of management and rent collection has been consistent throughout COVID.
Situated just north of Ventura Boulevard, the subject property is within
The 26,450 SF four-story building sits on a 15,276 SF lot, and is comprised of
(18) two-bedroom units and (3) studio units. Please note, 2 of 3 studio units
are ADU conversions. The two-bedroom units average approx. 1,200 SF and
studio units average approx. 620 SF. Each condo-quality unit features
wood/tile flooring, stainless steel appliances, granite countertops, washer/
dryer and balcony (only for two-bedrooms). Property amenities include
secured entry, elevator, several community courtyards, spacious rooftop
deck with panoramic views of the SFV and 36 parking spots in a gated
subterranean garage. The property is subject to LA Rent Stabilization
Ordinance.
he SFV, 4742Sepulveda presents the perfect long-term opportunity for any type of
investor.
FinancialsApproximate Gross RSF:
Approximate Age:
Approximate Lot Size:
2014
15,176 SF
26,450 SF Market CAP:
Price Per SF: $401
Current CAP: 3.76%
4.45%
Investment Summary
Price:
Down Payment: 42% $4,400,000
Number of Units: 21
Price Per Unit: $504,762
Current GRM: 16.49
Potential GRM: 14.77
Proposed Financing: $6,200,000
$10,600,000
Annualized Operating Data
Current Rents
Scheduled Gross Income: $642,756 $717,780
Vacancy Allowance: $19,283 3%
Gross Operating Income: $623,473
Less Expenses: $225,060 35%
Net Operating Income: $398,413
Less Loan Payment: -$318,914
Pre-Tax Cash Flow: $79,499 1.81%
Plus Principal Reduction: $126,661
Total Return Before Taxes: $206,160 4.69%
Market Rents
$21,533 3%
$696,247
$225,060 31%
$471,186
$152,273
-$318,914
3.46%
$126,661
$278,933 6.34%
Income
# of Units Bed/Baths
1 2 + 2 + Loft
Monthly Rent/Unit
$2,850 $3,250
Monthly Rent/Unit
Current Rents Potential Rents
Monthly Income
$2,850 $3,250
17 2 + 2 $703 - $2,925 $3,000$45,148 $51,000
3 Studio $1,845 $1,845$5,535 $5,535
Total Scheduled Rent: $53,533 $59,785
Laundry Income: $30 $30
Monthly Scheduled Gross Income: $53,563 $59,815
Annual Scheduled Gross Income: $642,756 $717,780
Monthly Income
Expenses*
Taxes (new): 1.25% $132,500
Insurance: *** $6,729
Utilities: *** $31,821
Repairs/Maintenance: *** 688,51$
Professional Mgmt: $25,710
Total Expenses: $225,060
$8.51
Per Unit: $10,717
*** 2020 ACTUALSEXPENSES ARE ESTIMATED
Elevator, Security, Pest, Gardening: *** $12,414
4742 Sepulveda Boulevard
Loan Rate: 3.13% Fixed For 3 Years
Loan Duration: 30 Years
Rent Roll4742 Sepulveda Boulevard
Rent Roll
Market RentCurrent RentUnit TypeUnit #
$3,000
$3,000
$3,000
$3,000
$3,000
$1,845
$2,700
$2,650
$2,650
$2,695
$1,845
$703
2 + 2
2 + 2
Studio
2 + 2
2 + 2
2 + 2
101
100
102
103
104
105
$3,000$2,6952 + 2106
$1,845$1,845Studio200
$3,000$2,7002 + 2201
$3,000$2,8952 + 2202
$3,000$2,7952 + 2203
$3,000$2,9252 + 2204
$3,000$2,8952 + 2205
$3,000$2,8252 + 2206
$1,845$1,845Studio300
$3,000$2,8002 + 2301
$3,000$2,7752 + 2302
$3,000$2,8502 + 2303
$3,000$2,7002 + 2304
$3,000$2,8952 + 2305
$3,250$2,8502 + 2306
Size (SF)
1,240 SF
1,200 SF
1,204 SF
1,280 SF
1,200 SF
1,200 SF
624 SF
1,240 SF
1,200 SF
1,204 SF
1,280 SF
1,200 SF
1,200 SF
624 SF
1,240 SF
1,200 SF
1,204 SF
1,280 SF
1,200 SF
1,600 SF
624 SF
Move-in Date
02/15/2015
01/27/2019
02/01/2016
01/01/2017
04/01/2015
02/01/2019
02/15/2015
11/01/2020
07/01/2020
10/01/2019
09/04/2017
06/01/2015
06/13/2018
09/24/2017
06/15/2015
02/01/2018
Notes
Low Income
VACANT - ADU
VACANT - ADU
Two-Bedroom w/ Loft
Rent Roll4742 Sepulveda Boulevard
Rent Roll
Laundry Income:
Other Income:
Monthly Total:
Annual Total:
$30
$0
$53,563
$642,756
$30
$0
$59,815
$717,780
Property Overview | Financing Options
Direct: (310) 664-6705
BRE# 00925920
Direct: (310) 664-6705
BRE# 02082070
Property Overview | Professional Photography
Property Overview | Professional Photography
Lobby w/ Secure Entry Building Elevator
Property Overview | Professional Photography
Subterranean Garage w/ 36 Parking Spaces
Property Overview | Professional Photography
2nd Floor Hallway2nd Floor Hallway Building Elevator3rd Floor Hallway
Outdoor Communal Courtyard Gym/ADU
Property Overview | Professional Photography
Property Overview | Professional Photography
Kitchen Living Room
Property Overview | Professional Photography
Dining Room
Property Overview | Professional Photography
1st Bedroom 2nd Bedroom
Property Overview | Professional Photography
Bathroom Bedroom Balcony
Property Overview | Professional Photography
Rooftop Deck w/ Panoramic Views of SFV
Property Overview | Professional Photography
Rooftop Deck w/ Panoramic Views of SFV
Property Overview | Drone Photography
Property Overview | Drone Photography
4742 Sepulveda Boulevard
Sherman Oaks GalleriaVentura Boulevard
Property Overview | Drone Photography
4742 Sepulveda Boulevard
Property Overview | Drone Photography
101 Freeway
405 Freeway
4742 Sepulveda Boulevard
4742 Sepulveda Boulevard
Rental & SalesComparables
omparables | Sales Comps
UnitMix
Year
Built
Address
COE
Sales
Price
Units
Price/
Unit
Bldg.
Sq. Ft.
Price
Per Foot
(18) 2+2 & (3) Studio
2014
4742 Sepulveda Blvd.
Subject Property
$10,600,000
21 Units
$504,762
26,540 SF
$401
(14) 2-Bdrms.
2003
4309Dixie Canyon Ave.
01/08/2019
$8,000,000
14 Units
$571,428
17,688 SF
$452
(18) 2+2
1999
4623Willis Ave.
06/27/2019
$8,950,000
18 Units
$497,222
24,046 SF
$372
(1) 3+2, (6) 2+2& (1) 1+1
2014
4737Kester Ave.
09/06/2019
$3,787,625
8 Units
$473,453
8,611 SF
$440
(13) 2+2, (1) 1+1& (1) Studio
1997
4341Ventura Canyon Ave.
03/19/2019
$7,000,000
15 Units
$466,667
16,260 SF
$431
Subject Property
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5
4) 4341 Ventura Canyon Ave.
3) 4737 Kester Ave.
2) 4623 Willis Ave.
1) 4309 Dixie Canyon Ave.
4742 Sepulveda Blvd.
Address
03/19/2019
09/06/2019
06/27/2019
01/08/0219
Subject Property
$7,000,000
$3,787,625
$8,950,000
$8,000,000
$10,600,000
Sales Price
15
8
18
14
21
Units
$466,667
$473,453
$497,222
$571,428
$504,762
PPU
16,260 SF
8,611 SF
24,046 SF
17,688 SF
26,540 SF
$431
$440
$372
$452
$401
PPF
1997
2014
1999
2003
2014
Year Built
Rent: $3,495
Unit Type: 2 Bdrm. & 2 Bath
Rent: $3,495
Unit Type: 2 Bdrm. & 2 Bath
Rent: $3,350
Unit Type: 2 Bdrm. & 2 Bath
1
Rent: $1,845
Unit Type: Studio & 1 Bath
RentalComparables
Market Rent:
(1) 2+2+Loft: $3,250
(17) 2+2: $850 - $3,000
(3) Studio: $1,845
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5
3) 4707 Willis Ave. #310
4) 14560 Benefit St. #303
2) 4430 Noble Ave. #301
1) 4742 Sepulveda Blvd. #300
Address
$3,495
$3,495
$3,350
$1,845
Rent
2 Bdrm. & 2 Bath
2 Bdrm. & 2 Bath
2 Bdrm. & 2 Bath
Studio & 1 Bath
Unit Type
2,040 SF
1,557 SF
1,391 SF
624 SF
Unit Type
Ren
tal C
omp
ara
ble
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ap Subject Property
Ben Kreitenberg
(818) 454-8268
DRE# 02103370
Max Berger
(818) 321-4972
DRE# 02054048
© Compass 2021 | All Rights Reserved by Compass | Made in NYCCompass is a licensed real estate broker (01991628) in the State of California and abides by Equal HousingOpportunity laws. All material presented herein is intended for informational purposes only. Information is compiledfrom sources deemed reliable but is subject to errors, omissions changes in price, condition, sale, or withdraw withoutnotice. No statement is made as to accuracy of any description. All measurements and square footages areappropriate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is notintended to solicit property already listed.
4742 Sepulveda Boulevard