10916 HESBY ST, NORTH HOLLYWOOD, CA91601OFFERING MEMORANDUM

w w w . o n w a r d c a p i t a l r e . c o m

Brand new Fourplex For Sale

TABLE OF CONTENTS

1. Executive Summary

2. Property Overview

3. Location Overview

4. Investment Highlights

5. Financials

6. Market Comps

7. Property Information

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

EXECUTIVE SUMMARY

THE OFFERINGOnward Capi ta l Inc exc lus ive ly presents the sa le of th i s

b rand new 4-p lex featu r ing 4 brand new un i t s i n Nor th

Ho l lywood. P roper ty w i l l be de l i vered 75% vacant , w i th one

un i t occupied on a 1 -year lease, w i th above market rent s .

PROPERTY SUMMARY 10916 Hesby St , Nor th Ho l lywood, CA

Bu i l t i n 2020

Pro ject Type: Mu l t i fami ly

Fourp lex

Ask ing P r ice: $2 ,750 ,000

Pr ice per Un i t : $687 ,500

Lot Sqf t : 5 ,804

Average Un i t Sqf t : 1 ,375

CAP: 5 .0%

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

PROPERTY OVERVIEW

Brand new Fourplex in North Hollywood, CA. 3 bed- 3.5 bath apartments

located in the heart of North Hollywood. Separately meted gas electric,

and water with secure parking and privacy. Trophy property in Class A

neighborhood with high cap rate – 5%! No rent control, low maintence

and expenses.

Never lived in before, brand new appliances, floors, windows, fixtures, and

finishes.

Developed by Onward Capital LLC and completed in 2020. Each unit has

modern interiors with many amenities including custom kitchen, in-unit

washer & dryer, modern stainless-steel appliances, secured building and

landscape.

Price $2.75M Lot Size 5,805 SFNo. Units 4 Building Size 5,864 SF

Property Type Multifamily No. Stories 3Property Subtype Apartment Year Built 2020

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

This property provides investors an exceptional projected cap rate of

5%. With a 7% cash on cash return at year 2 of cash flows. 10916 ½

Hesby (back unit of front building) is locked into a 1-year lease for

$4,225 which is above market rents.

Buyers will enjoy perks including:

• NO RENT CONTROL

• 1-year builder’s warranty

• Brand new EVERYTHING

• No maintenance

• A+ neighborhood on a peaceful residential street sandwiched

between Toluca Lake and the NoHo Arts District.

The front building consists of two enormous 3-bedroom, 3.5-bathroom

units with projected rents of $4,200 per unit. The back building is made

up of two 3-bedroom, 3-bathroom units, with projected rents of $3,850 a

piece. There are three 2-car garages on site as well as two additional

exterior parking spaces. The units feature top of the line appliances,

high quality finishes, spacious floor plans and laundry hookups in unit.

Air Conditioning Dishwasher Disposal Microwave Washer/Dryer Hookup Heating Kitchen Hardwood Floors

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

ABOUT 10916 HESBY ST, NORTH HOLLYWOOD, CA

Refrigerator Oven Stainless Steel Appliances Views Double Pane Windows Freezer Certificate of Occupancy – yes 1 unit leased with one tenant for 1 year

Unit Amenities:

North Hollywood is a neighborhood in the east San Fernando

Valley region of the city of Los Angeles. It is home to the NoHo Arts

District and the Academy of Television Arts & Sciences. The neighborhood

is an important transportation center for the region.

Since 2000, the community has been developing and undergoing many

changes, thanks in large part to the formation of the 743-acre North

Hollywood Development District and the subsequent NoHo Commons

projects.

North Hollywood is home to the Academy of Television Arts & Sciences.

Pierce Brothers Valhalla Memorial Park is located in the area and includes

the Portal of the Folded Wings Shrine to Aviation.

Universal Studios is also located on the border between Hollywood and

North Hollywood, easily accessible through one of NoHo's main streets,

Lankershim Boulevard.

LOCATION OVERVIEW

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

LOCATION HIGHLIGHTS

This property is located directly between the ultra trendy NoHo Arts District and the super upscale Toluca Lake neighborhood. Enjoy the absolute best of both worlds!

Toluca Lake is an area that is equated with luxury. It is home to countless celebrities and high earners due to the safety of the area and the prevalence of multi million dollar homes.

NoHo is home to the most popular arts, dining and nightlife scene in all of the Valley. Rentals are in the highest of demand in this area.

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

Nearby rentals of a comparable size in new construction apartment buildings such as “The Hesby” and “NoHo West” lease for $4,000+. The rental market in this area is unbeatable, attracting high quality, professional renters.

Walking distance to an unlimited supply of restaurants, bars and shops including The Federal, El Tejano, Brick Yard Pub, Eclectic Café and The Republic of Pie. Also less than a mile from 24 Hour Fitness, Starbucks, Chipotle, Panera Bread, The Laemmle Theaters, Bank of America and many other convenient destinations.

NEIGHBORHOOD OVERVIEW

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

Ralph’s (0.4 miles)

Trader Joes (1.6 miles)

North Hollywood Metro(0.8 miles)

North Hollywood Park(0.8 miles)

The Habit(0.4 miles)

Noho Arts Ditrict(0.4 miles)

Aeirloom(1.1 miles)

Cascabel(0.9 miles)

Teapop(0.2 miles)

Starbucks(0.3 miles)

Laemmle’s NoHo(0.6 miles)

Iddle Hour (0.4 miles)

Wework (0.6 miles)

Brick Yard Pub (0.5 miles)

Television Academy

Nearby Attractions

10916 Hesby

PROPERTY OVERVIEWINVESTMENT HIGHLIGHTS “A” Locat ion in Nor th Ho l lywood

5 min dr i ve to Shops and Res taurants

Proper ty su r rounded by new deve lopment

pro jects

7% cash on cash retu rn

$1M prof i t a t s tab i l i zed sa le y r . 10

10916 Hesby St is a 4-unit investment opportunity located on the highly

coveted North Hollywood neighborhood of Los Angeles, near the

Orange/Redline Station and NOHO Art District. Location is a thriving

suburb of L.A. located in the San Fernando Valley that is transforming

every day with new and better opportunities to work, play, and live.

The subject property completed is offered at an attractive price per

sqft of $500 and 5.0% CAP Rate. We have underwritten to Loan to 75%

LTV at 4.25% rate 36-month IO and then amortization for 10 years. This

is an excellent return for a property on an A+ location.

The property is surrounded by new development residential projects:

1. 10924 Hesby St: Fourplex (6 months until completion)

2. 10914 Hesby St: Double Fourplex (8 months until completion)

3. 10925 Hesby St: Fourplex

4. 10912 Otsego St: 3 unit condo

5. 10907 Otsego St: 20 single family residences

2

4 5

1

3

Inves tment H igh l ights :

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

District NoHo:

Proposed Joint Development at North Hollywood Station. District NoHo would have 1,500 apartments, a 400,000-square-foot office tower and restaurants, bars and shops.

NEW DEVELOPMENT PROJECTS IN THE AREA

11301-11321 Camarillo Street:

Mixed use apartment complex

NoHo West (6150 Laurel Canyon Blvd):

Mixed use project (642 apartments and 60 dining and shopping options)

5101 Lankershim Boulevard:

297-apartment mixed used project

TOLOCA TERRACE

TOLOCA WOODS

WEST TOLOCA LAKE

NORTH HOLLYWOOD

Vinela

nd A

ve

Tujunga

Ave

Burbank Blvd

Oxnard St

Camarillo St

W Magnolia Blvd

1

2

3

4

1

2

3

4

10916 Hesby

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

FINANCIALS

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

FINANCIALS

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

FINANCIALS

PROPERTY OVERVIEWMARKET COMPS FOR SALE

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

ADRESS UNIT TYPE BEDS BATHS SQFT PRICE10925 Hesby St Multifamily 12 14 6,552 $2.63M

55733 Klump Ave Multifamily 14 14 6,300 $2.5M

10920 Hesby Multifamily 12 14 $2.6M

$2.57MAverage:$2.75M10916 Hesby:

PROPERTY OVERVIEWMARKET COMPS FOR RENTADRESS UNIT TYPE SQFT RENT $/SQFT

5006 Morrison St Apartment 1,681 $4,000 $2.38

5019 Willowcrest Ave Apartment 1,789 $4,995 $2.79

6047 Cleon Ave Apartment 1,463 $3,900 $2.67

11059 Mccormick St Apartment 1,443 $4,060 $2.81

5440 Tujunga Ave Apartment 1,276 $3,525 $2.76

11201 Otsego St Apartment 1,284 $3,639 $2.83

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

$4,028 $2.8Average:$4,037 $2.910916 Hesby Average:

PROPERTY INFO

Brand new Fourplex in North Hollywood, CA. 3 bed- 3 bath

apartments located in the heart of North Hollywood.

Never lived in before, brand new appliances, floors, windows,

fixtures, and finishes. Enjoy this luxury apartment equipped with IN

UNIT laundry and 2-car garage. The duplex has beautiful

landscaping with secure entry.

Completed in 2020. Each unit has modern interiors with many

amenities including custom kitchen, in-unit washer & dryer, modern

stainless-steel appliances, secured building and landscape.

Developed and built by Onward Capital LLC.

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

PROPERTY OVERVIEW

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

PROPERTY OVERVIEW

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

PROPERTY OVERVIEW

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

PROPERTY OVERVIEWFloor Plans

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

PROPERTY OVERVIEW

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M

T H A N K Y O UP a c i f i c D e s i g n C e n t e r 7 5 0 N . S a n V i c e n t e B l v d . , 8 0 0W e s t H o l l y w o o d C A 9 0 0 6 9C : 3 1 0 - 7 8 0 - 1 1 4 6 | O : 3 1 0 - 8 7 0 - 1 9 3 1w w w . o n w a r d c a p i t a l r e . c o ms e r e n a @ o n w a r d c a p i t a l r e . c o m

The information contained herein is not a substitute for athrough independent due diligence investigation.Owner/Developer/Agent are not qualified discuss oradvise on legal, accounting, or other matters outside ofthose permitted by state law. Owner/Developer/Agenthave not made any investigation and makes no warrantyor representation, with respect to the income or expensesfor the subject property, the future projected financialperformance of the property.

1 0 9 1 6 H E S B Y S T , N O R T H H O L L Y W O O D , C A 9 1 6 0 1O F F E R I N G M E M O R A N D U M