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OFFERING MEMORANDUM
147 S. Doheny DriveLos Angeles, CA 90048
• Prime Location Adjacent To Beverly Hills• Great Unit Mix Of 2 Bedroom & 2 Bath Units - Plus One
Non Conforming Unit• Built As Condominiums With A Recorded Tract Map• Upside In Rents• Priced To Sell
147 S. Doheny Drive
CONTENTS
Rent Roll
Presented By
Errol Spiro
310.202.9166 Ext. 303Lic: [email protected] Executive Officer
Executive Summary45
Executive Summary Real Estate Investment DetailsPro Forma Summary 6
21-23
Rent Roll Detail 8 24
Photos and Maps101112-1314-19
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent thecurrent or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
Exterior Photos Interior Features MapsFloor Plans
Additional InformationBeverly Hills and Los Angeles
Rent ComparablesRental Comparables
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Executive SummaryExecutive SummaryReal Estate Investment DetailsPro Forma Summary
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EXECUTIVE SUMMARY
Brokering apartment investments for over 50 yearsThe above is for information only. Miller & Desatnik DOES NOT GUARANTEE the accuracy of this information sheet.
ACQUISITION COSTS
Purchase Price, Points and Closing Costs $17,500,000
Investment - Cash $8,500,000
First Loan $9,000,000
INVESTMENT INFORMATION
Purchase Price $17,500,000
Price per Unit $833,333
Price per Sq. Ft. $675.68
Income per Unit $45,166
Expenses per Unit ($14,565)
INCOME, EXPENSES & CASH FLOW
Gross Scheduled Income $948,480
Total Vacancy and Credits ($28,454)
Operating Expenses ($305,856)
Net Operating Income $614,170
Debt Service ($515,609)
Cash Flow Before Taxes $98,561
FINANCIAL INDICATORS
Cash on Cash Return Before Taxes 1.16%
Debt Coverage Ratio 1.19
Capitalization Rate 3.51%
Gross Rent Multiplier 18.45
Gross Income / Square Feet $36.62
Gross Expenses / Square Feet ($11.81)
Operating Expense Ratio 33.24%
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REAL ESTATE INVESTMENT DETAILS
Brokering apartment investments for over 50 yearsThe above is for information only. Miller & Desatnik DOES NOT GUARANTEE the accuracy of this information sheet.
Analysis
Analysis Date March 2017
Property
Property 147 S. Doheny - 21 Units
Property Address 147 S. Doheny DriveLos Angeles, Ca 90048
Year Built 2007
Financial Information
Down Payment $8,500,000
Purchase Information
Property Type MultiFamily
Purchase Price $17,500,000
Units 21
Total Rentable Sq. Ft. 25,900
Loans
Type Debt Term Amortization Rate Payment LO Costs
Fixed $9,000,000 30 years 30 years 4.0% $42,967
Income & Expenses
Gross Operating Income $920,026
Monthly GOI $76,669
Total Annual Expenses ($305,856)
Monthly Expenses ($25,488)
Contact Information
Errol Spiro
310.202.9166
00893163
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PRO FORMA SUMMARY
Brokering apartment investments for over 50 yearsThe above is for information only. Miller & Desatnik DOES NOT GUARANTEE the accuracy of this information sheet.
UNIT MIX & MONTHLY SCHEDULED INCOME
Type Units Actual Total Market Total
2+2 20 $3,860 $77,190 $4,230 $84,595
Single 1 $1,850 $1,850 $1,950 $1,950
TOTALS 21 $79,040 $86,545
ANNUALIZED INCOMEActual Market
Gross Potential Rent $948,480 $1,038,540
Less: Vacancy ($28,454) ($31,156)
Effective Gross Income $920,026 $1,007,384
Less: Expenses ($305,856) ($305,856)
Net Operating Income $614,170 $701,528
Debt Service ($515,609) ($515,609)
Net Cash Flow after Debt Service $98,561 $185,919
Principal Reduction $158,493 $158,493
Total Return $257,054 $344,413
ANNUALIZED EXPENSES
Actual MarketEstimated Expenses $305,856 $305,856
Total Expenses $305,856 $305,856
Expenses Per RSF $11.81 $11.81
Expenses Per Unit $14,565 $14,565
INVESTMENT SUMMARY
Price: $17,500,000
Year Built: 2007
Units: 21
Price/Unit: $833,333
RSF: 25,900
Price/RSF: $675.68
Lot Size: 11,142 sf
Floors: 4
Parking Spaces: 50
APN: 4335-007-122
Cap Rate: 3.51%
Market Cap Rate: 4.01%
GRM: 18.45
Market GRM: 16.85
FINANCING SUMMARY
Loan Amount: $9,000,000
Down Payment: $8,500,000
Loan Type: Fixed
Interest Rate: 4%
Term: 30 years
Monthly Payment: $42,967
DCR: 1.19
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RentRoll.
unit# unitmix Sq.Ft. RentAsof5/1/17 Proj.rent comments100 Single 1,850$ 1,950$ nonconform101 2+2 1,096 3,595$ 3,950$102 2+2 1,173 3,995$ 4,200$103 2+2 1,158 3,450$ 4,100$104 2+2 1,215 3,845$ 4,350$105 2+2 1,110 3,695$ 4,050$201 2+2 1,096 4,000$ 4,000$ proj.202 2+2 1,173 3,500$ 4,250$203 2+2 1,158 4,000$ 4,000$204 2+2 1,215 3,895$ 4,400$205 2+2 1,110 3,795$ 4,150$301 2+2 1,096 4,050$ 4,050$ mgr302 2+2 1,173 3,945$ 4,300$303 2+2 1,158 3,850$ 4,200$304 2+2 1,215 3,795$ 4,450$305 2+2 1,110 3,795$ 4,200$PH1 2+2 1,096 4,295$ 4,295$PH2 2+2 1,173 3,650$ 4,350$PH3 2+2 1,158 3,995$ 4,400$PH4 2+2 1,215 3,750$ 4,500$PH5 2+2 1,110 4,295$ 4,400$ proj.
Monthly 79,040$ 86,545$
Annual 948,480$ 1,038,540$
23,008 3.43/sq.ft. 3.76/sq.ft.
Rent Roll
3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
147 S. Doheny Drive, Los Angeles, CA 90048
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Photos & Maps
Exterior PhotosInterior FeaturesMapsFloor Plans 14
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Exterior Photos• Adjacent To Four Seasons Hotel• 5 Floors• 50 Parking Spots• Built in 2007• Individual water heaters for each unit
3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
page - 10
Interior Features
3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
• Wood Floors• Stainless Steel Appliances• Pre-Wirse Alarm System
• Granite Counter tops• Cental Air• In-Suite Washer & Dryer
page - 11
3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
147 S. Doheny Drive
LACMA
147 S. Doheny Drive
• 5 Minutes to Rodeo Drive
• Blocks from The Sunset Strip
• Adjacent to Beverly Hills
• Steps away from The Four Seasons Hotel
• Close Proximity to Many Restaurants
Los Angeles, CA 90048
147 S. Doheny DriveLos Angeles, CA 90048
147 S. Doheny Drive
Four Season
Culian Modern Italian
Ralph’s
Spago
Rodeo Drive
Sunset StripHollywood
page - 12
LOCATION MAP
Brokering apartment investments for over 50 yearsThe above is for information only. Miller & Desatnik DOES NOT GUARANTEE the accuracy of this information sheet.
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Rental Comparables
147
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3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
Rent Comparables
147 S. Doheny Drive, Los Angeles, CA 90048
Unit Mix : 2 BR + 2 Bath
Square Feet: 1,200
Asking Rent: $ 4,995
Rent Per SF:
230 Hamilton - Beverly HillsUnit Mix: 2 BR + 2 Bath
Square Feet 1,363 Asking Rent $ 4,895
Rent Per SF: $ 3.59
120 S Orlando A ve - Los Angel esUnit Mix: 2 BR + 2 BathSquare Feet 1,147Asking Rent $ 3,695
Rent Per SF: $3.22
8600 Burton Way - Los Angeles
$3.57
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3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
Rent Comparables
147 S. Doheny Drive, Los Angeles, CA 90048
: $3
:
1,470
$3
$2
es
S
$
133 S. Oakhurst Drive - Beverly Hills
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3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
Rent Comparables
147 S. Doheny Drive, Los Angeles, CA 90048
Unit Mix : 2 BR + 2 Bath
Square Feet: 1,247
Asking Rent: $ 3,995
Rent Per SF:
100 S Doheny Dr. - Los AngelesUnit Mix: 2 BR + 2 Bath
Square Feet 1,247 Asking Rent $ 3,995
Rent Per SF: $ 3.20
339 N Oakhurst Drive- Beverly HillsUnit Mix: 2 BR + 3 BathSquare Feet 1,790Asking Rent $ 4,505
Rent Per SF: $3.78
326 S Swall Drive - Los Angeles
$3.20
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3627 Motor AvenueLos Angeles, CA 90034(p) 310.202.9166(f) 310.558.1684www.mdrealtycorp.cpm
Los Angeles & Beverly HillsIt’s easy to fall in love with Beverly Hills and its
surrounding neighborhoods. 147 S Doheny is in close
proximity to the world-renowned shopping along
famed Rodeo Drive. Located perfect between Century
City and West Hollywood the location provides an
endless amount of restaurants, stores and many other
attractions. This palm tree covered street is what
people imagine when living and moving to Los
Angeles. 147 S. Doheny is truly in an A+ location!
page - 24
Exclusive Listing Agent
Errol Spiro
310.202.9166 Ext. 303Lic: [email protected] Executive Officer
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