1296 citrus - om · 2019. 9. 18. · • lionsgate • pandora • riot games • truecar •...

A Six-Unit Value-Add

Opportunity in Miracle Mile

1 2 9 6SOUTH CITRUS AVE

1 2 9 6SOUTH CITRUS AVE LOS ANGELES, CA9 • 0 • 0 • 1 • 9

STEVEN F. GOLDSTEINSenior Associate(213) [email protected] License: 01975978

SEAN ROSENZWEIGFirst Vice President, Investments(213) [email protected] License: 01406343

CONFIDENTIALITY AGREEMENTThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.

NON-ENDORSEMENT NOTICE

EXCLUSIVELY LISTED BY:

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Activity ID:

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE LISTING AGENTS FOR MORE DETAILS.

CONTENTS

01EXECUTIVE SUMMARY

03MARKET OVERVIEW

12FINANCIAL SUMMARY

15MARKET COMPARABLES

1•EXECUTIVE SUMMARY

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire a two-property portfolio located at 1296 South Citrus Avenue and 1430 Sherbourne Drive, a six-unit and five-unit value-add opportunity located in prime submarkets of Los Angeles. The properties can either be purchased as a portfolio or individually.

Originally constructed in 1927, 1296 South Citrus Avenue offers investors the ability to acquire a charming 1920s vintage apartment complex in the heart of Mid-Wilshire with a significant value-add component. Situated on a 7,052 square foot parcel, the asset consists of one two-story building with four detached carports and two garage parking spaces located in the rear of the building. The building consists of six spacious one bedroom units averaging 855 square feet with in-unit washer/dryer and private walk-up entrances in select units. While the building has been well maintained, the unit interiors are prime candidates for a comprehensive renovation strategy; investors can expect to increase rental income by approximately 42 percent post renovation.

The property is located within a highly desirable residential enclave of Mid-Wilshire. This highly walkable (89 Walk Score) pocket provides residents with ideal proximity to thousands of high-paying jobs, a myriad of entertainment venues, cultural destinations, and world class dining. Additionally, with CIM Group’s recently delivered

75,000 square foot retail center located across San Vicente Boulevard from the subject property, and future developments including Onni Group’s repositioning

of the one million square foot Wilshire Courtyard business center and the extension of the Metro Purple Line, investors should expect consistent rent

growth in the coming years.

Given the property’s prime Mid Wilshire location, significant value-add component, and the neighborhood’s transforming landscape, 1296 South Citrus Avenue is an ideal investment for investors seeking long term appreciation.

THE OFFERING

SUMMARYEXECUTIVE

Great Walkability and Transit Oriented

With a Walk Score of 89, 1296 South Citrus Avenue is considered very walkable—most errands can be accomplished on foot. Additionally, with the coming extension of the Metro Purple Line, residents will have convenient access to Westside neighborhoods as well as Downtown Los Angeles without the use of a car.

Strong Demand for Renovated Product

Strong Demand for Renovated Product: With strong neighborhood demographics, Mid Wilshire has an affluent tenant base seeking luxury finishes.

Value-Add Opportunity

Investors will have the opportunity to implement a comprehensive renovation strategy, capitalizing on approximately 42 percent rental upside post renovation.

Large Character-Style Units

The property features large one bedroom one bathroom units averaging 855 square feet with in-unit washer/dryer and private walk-up entrances on select units.

100 percent fee simple interest in a six-unit apartment community located at 1296 South Citrus Avenue, Los Angeles, CA 90019.

INTEREST OFFERED:

Property has in-place financing that must be assumed.

TERMS OF SALE:

Prospective purchasers are encouraged to visit the subject property prior to submitting offers. Please do not contact the management company without prior approval. All property tours must be coordinated through the listing agents.

PROPERTY TOURS:

Address: 1296 South Citrus Avenue, Los Angeles, CA 90019

List Price: $2,100,000

Current Cap: 2.37%

Market Cap: 5.27%

Price/Unit: $350,000

Price/Gross SF: $386

SUMMARY OF TERMSI N V E S T M E N T H I G H L I G H T S

2 1296 SOUTH CITRUS•

3•EXECUTIVE SUMMARY

OVERVIEWMARKET



BEST OF

MIRACLE MILE ONLY STEPS AWAY

Originally developed in the 1920s, pioneer developer A.W Ross saw an opportunity for this one mile stretch along Wilshire Boulevard as an alternative shopping district to Downtown Los Angeles. Since then Miracle Mile has evolved into one of the city’s more densely populated neighborhoods and an attractive place of residence due to its central location and the wide variety of walkable amenities.

Situated on South Citrus Avenue, the subject property is within two miles of popular destinations such as LACMA, El Rey Theatre, The Grove, Hancock Park, Pan Pacific Park, and The Farmers Market at 3rd and Fairfax. Additionally, it is situated within a short Uber ride of countless local amenities on Pico Boulevard, Wilshire Boulevard, La Brea Avenue, and Venice Boulevard including Trader Joe’s, CVS, La Brea Bakery, Modo Yoga, and numerous boutique eateries, cafes, and shoppes.

Wilshire BoulevardMuseum Row

The Grove Shopping Center

Los Angeles County Museum of Art

The Academy Museum of Motion Pictures (2019)

5•MARKET OVERVIEW

We think of Wilshire Boulevard as synonymous with Los Angeles—as our Main Street.-Los Angeles Times

Los Angeles County Museum of Art Pan Pacific Park

El Rey Theatre

The Original Farmers Market


6 milesSANTA MONICA:15.72M SF OF OFFICE SPACE

Hulu • HBO • Activision • Lionsgate • Pandora • Riot Games • TrueCar •

Fandango

1296 Citrus offers residents unparalleled accessibility to all of Metro Los Angeles.The property is located within a 30-minute drive of nearly 225 million square feet of office space and prominent employers across a wide variety of industries. This high level of accessibility has routinely driven demand to live in and around Miracle Mile as it affords residents a great balance of urban living with manageable commute times to more than one million jobs throughout Los Angeles.

Additionally, 1296 Citrus is located within a five-minute walk of the purple line extension at Wilshire/La Brea which will enhance accessibility to employment hubs such as Downtown Los Angeles, Hollywood, Koreatown, and the Westside (upon completion of the Purple Line extension in 2026).

This high level of accessibility appeals to the cosmopolitan spirit of the subject property’s target renter profile who desire to have access to the best of everything within arm’s reach. This location is also ideal for roommate sharing situations and couples where the tenants’ respective jobs are located in diverging markets or those who have careers and lifestyles that require commutes to various areas of the city.

Furthermore, the continued gentrification of the immediate area surrounding the property continues to draw attractive lifestyle amenities within walking distance, thereby increasing demand to live at properties like 1296 Citrus.

ACCESSIBILIT Y TO HIGH-SAL ARY JOBSUnparalleled Accessibility

8 miles

2 miles

4 miles

6 milesMID-WILSHIRE/MIRACLE MILE:

21.74M SF OFFICE SPACEHanmi Bank • Mercury Insurance • Ares

Management • CBS Television City • SAG-AFTRA • E! Entertainment • Securitas • Entercom

Communications • Southwestern Law School • Los Angeles Magazine

WEST HOLLYWOOD/HOLLYWOOD/STUDIO CITY: 23.53M SF OF OFFICE SPACE

Netflix • HBO • Paramount • Live Nation • Viacom • NBC Universal • CBS Studios •

Universal Studios

MARINA DEL REY/VENICE/LAX: 15.97M SF OF OFFICE SPACE

Facebook • YouTube • Google • Yahoo! • Electronic Arts • Toms • Genzyme • Deutsch

GREATER DOWNTOWN LOS ANGELES:

72.27M SF OF OFFICE SPACEAECOM • Gibson, Dun,

& Crutcher • KPMG • Deloitte • Gensler •

Ernst & Young • Wedbush Securities • Manufacturers

Bank • Oaktree Capital Management • O’Melveny &

Myers • Transamerica

BURBANK/GLENDALE: 26.65M SF OF OFFICE SPACE

DreamWorks • Nestle • Whole Foods • Walt Disney

Animation • Warner Brothers • ABC EntertainmentBEVERLY HILLS/CENTURY CITY:

22.07M SF OF OFFICE SPACECreative Artists Agency • 20th Century Fox • Houlihan Lokey • Cedars Sinai Medical Center

• William Morris Agency • Latham & Watkins

6 miles

WESTWOOD/WEST LA/CULVER CITY:

24.15M SF OF OFFICE SPACEUCLA • Sony Pictures • NFL Network • Oracle • LA Weekly • Symantec •

Comedy Central • Amazon Studios



From the NoHo Arts’ District, to Hollywood, to Koreatown, Metro Stations Have Clearly

Demonstrated Their Ability to Drive Neighborhood Growth.

89 WALK SCORE

“Very Walkable”Most errands can be accomplished on foot.

63 TRANSIT SCORE

“Good Transit”Many nearby public transportation options.

70 BIKESCORE

“Very Bikeable”Biking is convenient for most trips.

TRANSIT AND PEDESTRIAN ORIENTED


9•MARKET OVERVIEW

Listed in the table are travel times to popular destinations and employment centers via different means of transportation. Additionally, the subject property has an 89 Walk Score rating which means most errands can be accomplished on foot. Investors will benefit from this high level of walkability as more walkable neighborhoods tend to attract young, educated, and affluent lifestyle renters who are willing to premiums for renovated living spaces.

Residents at 1296 Citrus are also within a short drive of some of the most desirable submarkets in Los Angeles County. The immediately adjacent neighborhoods (Hollywood and Koreatown) are within a 5- to 10-minute drive while other employment centers such as Beverly Hills, West Hollywood, and Downtown Los Angeles are within a 25-minute drive (during light traffic conditions).

METHOD OF TRANSPORTATION

LOCATION WALK BIKE BUS

La Brea Avenue & 3rd Street 5 min 2 min N/A

The Grove/Farmers Market 19 min 5 min 13 min

LACMA / Museum Row 18 min 5 min 11 min

Larchmont Village 34 min 10 min 16 min

Beverly Center/Restaurant Row N/A 13 min 20 min

Hollywood & Highland N/A 19 min 23 min

Downtown LA Financial District N/A 39 min 43 min

12minutes to

beverly hills

18minutes to

downtown los angeles

15minutes to

west hollywood

1296 Citrus offers residents convenient proximity to local employers, cultural attractions, and entertainment destinations without the use of a car. The property is located near stops for six bus lines (the DASH, 16, 20, 212, 312, and 316) which enable residents to easily access various locations within the city.

Additionally, the subject property is less than a 20-minute walk from the site of the future Wilshire/La Brea Station on the Purple Line which will further enhance future transit options.


FACADE & LANDSCAPING IMPROVEMENTSFirst impressions are key to the decision making process for prospective residents and one of the best ways to set the right tone is with exterior/facade improvements and freshly landscaped grounds. Additionally, introducing new landscaping concepts like hardscape and drought resistant plants will also help reduce operational costs of landscape maintenance and utilities (via less watering).

INTERIOR RENOVATIONSUpgraded Flooring

Modern Light Fixtures

Stainless Steel Appliances

Stone Countertops

Contemporary Window Treatments

Recessed Lighting

Modern Plumbing Fixtures

Designer Paint Scheme

COMMON AREA & SYSTEMS UPGRADENew Exterior Paint Scheme

Modern Address Numbering

1296 Citrus is an excellent candidate for value-add renovations that will allow investors to capitalize on the demand for premium finishes in the immediate market.

Investors will have the opportunity to replicate similar upgrades completed at other properties in the submarket shown here.

VALUE-ADDOPPORTUNITY

PREMIUM POTENTIAL


11•MARKET OVERVIEW


11•MARKET OVERVIEW

SUMMARYFINANCIAL

13•FINANCIAL SUMMARY

ANNUALIZED OPERATING DATA Current Year 1 Market

Market Rent $162,000 $162,000 $162,000

Gain (Loss)-to-Lease 41.93% (67,920) 39.60% (64,157) 0.00% -

Gross Potential Rental Income $94,080 $97,843 $162,000

Less: Vacancy 3.00% (2,822) 3.00% (2,935) 5.00% (8,100)

Less: Non-Revenue Units 0.00% - 0.00% - 0.00% -

Less: Bad Debt 0.50% (470) 0.50% (489) 0.50% (810)

Less: Concession Loss 0.00% - 0.00% - 0.00% -

Total Rental Income $90,787 $94,419 $153,090

Other Income $/unit/mo. - $/unit/mo. - $/unit/mo. -

RUBS Income $/unit/mo. - $/unit/mo. - $25/unit/mo. 1,800

Effective Gross Income $90,787 $94,419 $154,890

Less: Expenses 45.19% (41,024) 43.64% (41,206) 28.56% (44,229)

Net Operating Income $49,763 $53,213 $110,661

Less: Debt Service (45,500) (45,500) (45,500)

Pre-Tax Cash Flow 0.33% 4,263 0.59% 7,713 5.01% 65,160

UNIT MIX CURRENT MARKET

# of Avg. Unit Average Average Average Monthly Average Average Average Monthly Loss-to-Unit Type Units Size (SF) Rental Range Rent Rent/SF Income Rental Range Rent Rent/SF Income Lease

1 Bed/1 Bath 6 855 $562 - $1,813 $1,307 $1.53 $7,840 $2,250 - $2,250 $2,250 $2.63 $13,500 42%

Totals/Weighted Averages: 855 $1,307 $1.53 $7,840 $2,250 $2.63 $13,500 42%

Current Occupancy: 100.00% Annual Current: $94,080 Annual Market: $162,000

FINANCING

Loan Amount 800,000

Interest Rate 3.94%

Monthly Payment ($3,792)

Loan-to-Value 38%

Amortization (Years) 30

Proposed/Assumption Assumption

Debt Service Coverage Ratio 1.09

I/O Period (Years) 0

ANNUALIZED OPERATING DATA Current Year 1 Market

FIXED EXPENSES

Real Estate Taxes 1.196046% 25,117 25,117 25,117

Direct Assessments Per Assessor 968 968 968

Insurance $300/unit 1,800 1,800 1,800

Utilities $304/unit 1,825 1,825 1,825

Reserves $200/unit 1,200 1,200 1,200

VARIABLE EXPENSES

On Site Payroll $0/unit - - -

General & Administrative $150/unit 900 900 900

Marketing & Promotion $50/unit 300 300 300

Contract Services $229/unit 1,375 1,375 1,375

Repairs & Maintenance $300/unit 1,800 1,800 1,800

Turnover $200/unit 1,200 1,200 1,200

Management Fee 5.0% of EGI 4,539 4,721 7,745

Total Expenses 41,024 41,206 44,229

Expenses/Unit $6,837 $6,868 $7,372

Expenses/Gross SF $7.54 $7.58 $8.13

% of EGI 45.2% 43.6% 28.6%

FINANCIAL INDICATORS

Price $2,100,000

Down 62% $1,300,000

Current CAP 2.37%

Year 1 CAP 2.53%

Market CAP 5.27%

Price/Unit $350,000

Price/Gross SF $386

Current GRM 22.32

Year 1 GRM 21.46

Market GRM 12.96

Current GIM 22.32

Market GIM 12.82

Ownership Fee Simple

BUILDING DATA

No. of Units 6

Year Built 1927

Lot Size (acres) 0.16

Lot Size (SF) 7,052

Gross SF 5,438

Net Rentable SF 5,130

APN 5084-026-024

NOTES/ASSUMPTIONS(1) Unit sizes are estimated based off broker’s measurement of one unit.(2) Utilities and contract services are based on the operating statement provided; tenants are billed direct for trash.(3) Year 1 Scenario accounts for all tenants receiving 4% annual RSO increase.

FINANCIAL SUMMARY 1296 Citrus AvenueLos Angeles, CA 90019


CURRENT SCHEDULED GROSS INCOME YEAR 1 MARKET

UNIT STATUS UNIT TYPE UNIT SIZE RENT RENT / SF RENT RENT / SF RENT RENT / SF RENT RENT / SF LOSS-TO-

LEASE1296 Occupied 1 Bed/1 Bath 855 $1,743 $2.04 $1,743 $2.04 $1,812 $2.12 $2,250 $2.63 ($507)

1296.5 Occupied 1 Bed/1 Bath 855 $1,120 $1.31 $1,120 $1.31 $1,165 $1.36 $2,250 $2.63 ($1,130)

1298 Occupied 1 Bed/1 Bath 855 $1,813 $2.12 $1,813 $2.12 $1,886 $2.21 $2,250 $2.63 ($437)

1298.5 Occupied 1 Bed/1 Bath 855 $1,795 $2.10 $1,795 $2.10 $1,867 $2.18 $2,250 $2.63 ($455)

4913 Occupied 1 Bed/1 Bath 855 $807 $0.94 $807 $0.94 $839 $0.98 $2,250 $2.63 ($1,443)

4915 Occupied 1 Bed/1 Bath 855 $562 $0.66 $562 $0.66 $585 $0.68 $2,250 $2.63 ($1,688)

6 6 100.0% 5,130 $7,840 $1.53 $7,840 $1.53 $8,154 $1.59 $13,500 $2.63 ($5,660)

RENT ROLL 1296 Citrus AvenueLos Angeles, CA 90019

NOTES/ASSUMPTIONS(1) Unit sizes are estimated based off broker’s measurement of one unit.(2) Utilities and contract services are based on the operating statement provided; tenants are billed direct for trash.(3) Year 1 Scenario accounts for all tenants receiving 4% annual RSO increase.

COMPARABLESMARKET


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RENT CONTROLLED1 451 South Detroit Avenue

3 1041 South Genesee Avenue

5 5701 San Vicente Boulevard

2 1212 Orange Grove Avenue

4 613 South Detroit Avenue

6 1055 South Sycamore Avenue

SALEScomparables

1296 SOUTH CITRUS

2 5

14

3 6

17•MARKET COMPARABLES

PROPERTYYEAR BUILT UNITS

GROSS SF PRICE

COECAP

COEGRM $/UNIT $/SF

SALE DATE STUDIO 1-BED 2-BED 3-BED

1296 South Citrus Avenue 1927 6 5,438 $2,100,000 2.37% 22.32 $350,000 $386 N/A N/A 6(1+1) N/A N/ALos Angeles, CA 90019

1 451 South Detroit Avenue 1933 8 8,203 $3,125,000 N/A N/A $390,625 $381 8/13/19 N/A 8(1+1) N/A N/ALos Angeles, CA 90036

2 1212 Orange Grove Avenue 1932 5 4,155 $1,774,000 4.29% 18.29 $354,800 $427 8/2/19 1(S) 2(1+1) 2(2+2) N/A

Los Angeles, CA 90019

3 1041 South Genesee Avenue 1936 12 11,967 $4,450,000 3.98% 16.03 $370,833 $372 6/26/19 N/A 7(1+1) 4(2+1) N/A

Los Angeles, CA 90019 1(2+1.5)

4 613 South Detroit Avenue 1939 6 6,526 $2,200,000 4.79% 20.87 $366,667 $337 6/17/19 N/A 3(1+1) 3(2+1) N/A


5 5701 San Vicente Boulevard 1949 6 3,800 $1,415,000 5.00% 13.40 $235,833 $372 6/11/19 4(S) 2(1+1) N/A N/A


6 1055 South Sycamore Avenue 1939 5 3,286 $1,830,000 4.90% N/A $366,000 $557 10/4/18 N/A 4(1+1) N/A N/A

Los Angeles, CA 90019 Note: Property had 4 vacant units at time of sale. 1(P)

High: 5.00% 20.87 $390,625 $557 Average: 4.59% 17.15 $347,460 $408

Low: 3.98% 13.40 $235,833 $337

SALEScomparables


SALEScomparables

1

451 SOUTH DETROIT AVENUE • LOS ANGELES, CA 90036

YEAR BUILT: 1933

UNITS: 8

GROSS SF: 8,203

SALE PRICE: $3,125,000

COE CAP RATE: N/A

COE GRM: N/A

PRICE PER UNIT: $390,625

PRICE/SF: $381

SALE DATE: 8/13/19

UNIT MIX

1 BED/1 BATH 8

451 SOUTH DETROIT AVENUE 2

1212 ORANGE GROVE AVENUE • LOS ANGELES, CA 90019

YEAR BUILT: 1932

UNITS: 5

GROSS SF: 4,155


COE CAP RATE: 4.29%

COE GRM: 18.29


PRICE/SF: $427

SALE DATE: 8/2/19

UNIT MIX

STUDIO 1

1 BED/1 BATH 2

2 BED/2 BATH 2

1212 ORANGE GROVE AVENUE 3

1041 SOUTH GENESEE AVENUE • LOS ANGELES, CA 90019

YEAR BUILT: 1936

UNITS: 12

GROSS SF: 11,967


COE CAP RATE: 3.98%

COE GRM: 16.03


PRICE/SF: $372

SALE DATE: 6/26/19

UNIT MIX

1 BED/1 BATH 7

2 BED/1 BATH 4

2 BED/1.5 BATH 1

1041 SOUTH GENESEE AVENUE


SALEScomparables

4

613 SOUTH DETROIT AVENUE • LOS ANGELES, CA 90035

YEAR BUILT: 1939

UNITS: 6

GROSS SF: 6,526


COE CAP RATE: 4.79%

COE GRM: 20.87


PRICE/SF: $337

SALE DATE: 6/17/19

UNIT MIX

1 BED/1 BATH 3

2 BED/1 BATH 3

613 SOUTH DETROIT AVENUE 5

5701 SAN VICENTE BOULEVARD • LOS ANGELES, CA 90019

YEAR BUILT: 1949

UNITS: 6

GROSS SF: 3,800


COE CAP RATE: 5.00%

COE GRM: 13.40


PRICE/SF: $372

SALE DATE: 6/11/19

UNIT MIX

STUDIO 4

1 BED/1 BATH 2

5701 SAN VICENTE BOULEVARD 6

1055 SOUTH SYCAMORE AVENUE • LOS ANGELES, CA 90019

YEAR BUILT: 1939

UNITS: 5

GROSS SF: 3,286


COE CAP RATE: 4.90%

COE GRM: N/A


PRICE/SF: $557

SALE DATE: 10/4/2018

UNIT MIX

1 BED/1 BATH 5

1055 SOUTH SYCAMORE AVENUE


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RENTcomparables

11296 SOUTH CITRUS

1

3

5

2

4

6

1085 South Cloverdale Avenue

1535 6th Avenue

1016 Masselin Avenue

1303 South Cloverdale Avenue

5078 Pickford Street

1055 South Sycamore Avenue

6

2

3

4

5


1 BED/1 BATH

PROPERTY UNITS YEAR BUILT RENT SIZE $/SF

1296 SOUTH CITRUS 6 1927 Avg. In-Place Rents: $1,307 855 $1.53 1296 South Citrus Avenue Avg. Market Rents: $2,250 855 $2.63 Los Angeles, CA 90019 - - -

1 1085 South Cloverdale Avenue 8 1928 $2,850 800 $3.56

Los Angeles, CA 90019 - - -

- - -

2 1303 South Cloverdale Avenue 8 1928 $2,195 850 $2.58


- - -

3 1535 6th Avenue 11 1922 $2,195 700 $3.14


- - -

4 1016 Masselin Avenue 8 1936 $2,395 1,100 $2.18


- - -

5 5078 Pickford Street 5 1949 $1,995 980 $2.04


- - -

6 1055 South Sycamore Avenue 5 1939 $2,950 - -


- - -

Average: $2,430 886 $2.70 High: $2,950 1,100 $3.56 Low: $1,995 700 $2.04

RENTcomparables

MIRACLE MILE

HOLLYWOOD

KOREATOWN

HANCOCK PARK

SILVER LAKE


1 2 9 6 SOUTH CITRUS AVE

DOWNTOWN LOS ANGELES

MID WILSHIRE

UNIVERSITY PARK

N

EXCLUSIVELY LISTED BY:


STEVEN F. GOLDSTEINSenior Associate(213) [email protected] License: 01975978

SEAN ROSENZWEIGFirst Vice President, Investments(213) [email protected] License: 01406343

1296 citrus - om · 2019. 9. 18. · • lionsgate • pandora • riot games • truecar •...

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