942 curson ave west hollywood ca 90046

4 UNITS IN PRIME WEST HOLLYWOODWALKERS PARADISE - Walking Score of 90

942 CURSON AVE WEST HOLLYWOOD CA 90046

www.CONCORD-RE.com | [email protected] | 310.551.0660

449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

OFFERINGMEMORANDUM

PRESENTEDBY

Eric vonBluecher

InvestmentAssociate

BRE#01926201

310.900.9505direct

[email protected]

Our mission

PROPERTYSUMMARYProperty Highlights Property Details Property Location Aerial PhotoParcel Orientation Photography

FINANCIALSFinancial Overview RentRoll

LOCATION OVERVIEWMarket overview

COMPARABLESSalesComps RentComps

MARKETING PACKAGEOVERVIEW

942 CURSON AVEWEST HOLLYWOOD, CA 90046

www.CONCORD-RE.com | [email protected] | 310.551.0660 449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

ABOUTUS

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for anyinaccuracies.


OURWORLD HAS CHANGED AND SOHAS THE BUSINESS OFREAL ESTATE. IT’S NOT ENOUGH TOWORKWITH A TYPICALREAL ESTATE COMPANY. AT CONCORD, WE THINK OF OURSELVES AS YOUR PARTNER - ONE WHO CAN BRING EVERYASPECT OF YOUR PORTFOLIO TOGETHER UNDER ONE ROOF, COMBINING CORPORATE CAPABILITIES WITH A FAMILYFEEL.

CONCORD IS THE EVOLUTION OF REAL ESTATE. WE’RE CHANGING THE GAME AND MOVING ABOVE AND BEYOND WHATYOU’VE COME TO EXPECT. THIS IS REAL ESTATE UNIFIED; NEXT-LEVEL SERVICES THAT SEAMLESSLY CONNECT THEDOTS SO YOU DON’T HAVE TO. FROM ACQUISITION TO MANAGEMENT TO CONSTRUCTION TO THE DISPOSITION,CONCORDIS ELEVATINGYOUREXPERIENCEEVERYSTEPOFTHE WAY.

OUR CLIENTS ENTRUST US WITH SO MANY ASPECTS OF THEIR REAL ESTATE LIFE. OUR MISSION IS TO DUTIFULLY GUIDE THEM, CREATE VALUE AND ACT IN

HARMONY WITH THEIR BEST INTEREST.

WE PARTNER WITH YOU EVERY STEP OF THE WAY TO ELEVATE YOUR REAL ESTATE EXPERIENCE

a different kind of real estate partner.

942 CURSON AVEWEST HOLLYWOOD, CA 90046OURMISSION

www.CONCORD-RE.com | [email protected] | 310.551.0660 449 South Beverly Drive, First Floor, Beverly Hills, CA 90212


PROPERTY SUMMARY942 CURSON AVE WEST HOLLYWOOD CA90046

4 UNITS IN PRIME WEST HOLLYWOODWALKERS PARADISE - Walking Score of 90* Nearly 60% upside in rents* 1 unit fully renovated with high end finishes and DELIVERED VACANT* 4 large one bedroom units averaging nearly 900 sqft each* Lower two units have 50 sqft bonus rooms* Laundry hookups & water heater in each unit* Each unit has front and rear entry* 4 parking spaces with additional drive way parking* Efficient floor plans with large baths, kitchens, bed and living rooms* Abundant windows with plenty of light and air flow* Perfect for investor, owner user and/or your kids


PROPERTYSUMMARYPROPERTYHIGHLIGHTS

PROPERTYDETAILSUnit MixMajor Intersection MarketAPNZoning Type Lot Size

Building Sq.Ft.

(4) 1+1Curson Ave and Santa Monica Ave WestHollywood5530021002WDR3C6,761 square feet 3,572 square feet

PROPERTYDESCRIPTIONConcord Real Estate Services proudly presents the offeringmemorandum for 942 Curson Ave in beautiful West Hollywood,California. This property is one half block South of thrivingSanta Monica Blvd and just south of Sunset Blvd’s recentrenaissance. Walking distance to shops, bars, restaurants,entertainment and public transit on both major thoroughfaresadd to this property’s long-term appreciation. The building hasfour (4) 1+1 units that measure approx. 900 square feet andopen, spacious floorplans with plenty of light. Each unit has itsown water heater and laundry hookups. There are 4 parkingspaces available along withdriveway parking.

PROPERTYSUMMARYPROPERTYDETAILS



PROPERTYSUMMARYPROPERTYLOCATION

942 N. Curson


PROPERTYSUMMARYPROPERTYAERIAL

Curson Ave


PROPERTYSUMMARYPARCELORIENTATION


PROPERTYSUMMARYPROPERTYPHOTOS

FINANCIALS942 CURSON AVE WEST HOLLYWOOD CA90046



FINANCIALSFINANCIAL OVERVIEW

INVESTMENTSUMMARY SCHEDULEDINCOMEDownPayment: $1,900,000 100.00%YearBuilt: 1927 Units Beds Baths Average Monthly Rent MonthlyUnits: 4 4 1 1 $2,000.00 $6,197.00 $2,450.00 $9,800.00Approx.LotSize: 6,761 Sq.Ft.Approx.Bldg.NRSF: 3,572 Sq.Ft.CostperNRSF: $531.91CostperUnit: $475,000Expense/NRSF: $8.03 ParkingIncome: $100.00Expense/Unit: $7,170 StorageIncome: $200.00

CURRENT PROFORMA $6,197.00 $10,100.00GRM: 25.55 15.68CAP: 2.29% 4.68% $6,197.00 $10,100.00ROI: 2.29% 4.68% $74,364.00 $121,200.00

ANNUALINCOME ESTIMATEDANNUALEXPENSESCURRENT PROFORMA AMOUNT

ScheduledGrossIncome: $74,364 $121,200 $22,800LessVacancyReserveRate: ($2,231) 3.00% * ($3,636) 3.00% $803GrossOperatingIncome: $72,133 $117,564 $1,701LessExpenses: ($28,681) 38.57% * ($28,681) 23.66% $1,097NetOperatingIncome: $43,452 $88,883 $600LessDebtService: $0 $0 $1,200Pre-TaxCashFlow: $43,452 2.29% ** $88,883 4.68% $480PlusPrincipalReduction: $0 $0TotalReturnBeforeTaxes: $43,452 2.29% ** $88,883 4.68%

FINANCINGINFORMATION

Price: $1,900,000 Terms: 30 YearAmort. $28,681DownPayment: $1,900,000 InterestRate: 3.50% For5Years $8.03LoanAmount: $0 Payment: $0.00 PerMonth $7,170Expense/Unit:

TotalExpenses:Expense/NRSF:

UNITMIX

Taxes:

Maintenance&Repairs:

Insurance:Utilities:

CURRENT

ITEM

*Asapercentofthescheduledgrossincome.**Asapercentofthedownpayment

Landscaping:Misc/Reserves:Pest:

PROFORMA

ScheduledRent:

MonthlyGrossIncome:AnnualGrossIncome:

$1,900,000


FINANCIALSRENT ROLL - As of September 22, 2016

RENTROLLASOF

Current MarketUnit# UnitType Rent Rent Size(sf) Notes

942 1+1 $2,500 $2,500 943 Vacant,FullRemodel,lower944 1+1 $1,012 $2,400 843 Upper946 1+1 $1,007 $2,400 843 Upper948 1+1 $1,635 $2,500 943 Lower

PARKINGINCOME: $100STORAGEINCOME: $200LAUNDRYINCOME:

MONTHLYTOTAL: $6,154 $10,100 3,572

ANNUALTOTAL: $73,848 $121,200

10/25/16

123PracticeAveLosAngeles,CA900

*Squarefootageisapproximate.

LOCATION942 CURSON AVE WEST HOLLYWOOD CA90046


LOCATIONLOCATIONOVERVIEW


WEST HOLLYWOOD, CALIFORNIA

West Hollywood, colloquially referred to as WeHo, is a city in western LosAngeles County, California. Incorporated in 1984, it is home to the Sunset Strip.As of the 2010 census, its population was 34,399. West Hollywood is bounded onthe north by the Hollywood Hills, on the east by Hollywood, on the southeast bythe Fairfax district, on the southwest by the district of Beverly Grove, and on thewest by the city of Beverly Hills.

West Hollywood benefits from a verydense, compact urban form with smalllots, mixed land use, and a walkablestreet grid. According to Walkscore, awebsite that ranks cities based onwalkability, West Hollywood is the mostwalkable city in California. Commercialcorridors include the nightlife and diningfocused on the Sunset Strip, along SantaMonica Boulevard, and the Avenues ofArt & Design along Robertson, Melrose,and Beverly Boulevard.

LOCATIONMARKETAERIAL

942 N. Curson


FoodLab

Plummer Park

Poinsettia Recreation

Center

HarloweBar

Brick

NowBoarding Bar


COMPARABLES942 CURSON AVE WEST HOLLYWOOD CA90046

942 N.Curson


COMPARABLESSALESCOMPS

1 3

2

SALEPRICE# OF UNITS BUILDINGSF PRICE/SF LOTSIZE

$1.900,0004

3,572$531.916,761SF

SALEPRICE# OF UNIT.S BUILDINGSF PRICE/SFLotSize

$1,450,0004

2,702$536.64 7,372SF

SALEPRICE# OF UNIT.S BUILDINGSF PRICE/SF LOTSIZE

$1,660,0004

2,840$584.51 6,745SF

SALEPRICE# OF UNITS BUILDINGSF PRICE/SF LOTSIZE

$1,410,0004

2,552$552.51 5,864SF

942 Curson Avenue, West Hollywood, CA 90046

946 N Hayworth Avenue, West Hollywood, CA 900691120N VistaStreet, West Hollywood,CA90046

1230N OgdenDrive, West Hollywood, CA 90046

942 CursonAvenue 1120NVistaStreet 1230NOgdenDrive 946 N HayworthAvenue

Price Per / SF Comparison Chart for Sold Comps

$584.51$552.51

$536.64

$531.91


COMPARABLESRENTCOMPS

Rent Comps

918 N GardnerStreet1 833 Sierra Bonita Avenue2

21

942 N. Curson


COMPARABLESRENTCOMPS

1

2

RENT $1007- $2500YEARBUILT 1927UNITTYPE 1+1

RENT $2,400PRICE PERSQFT $2.40YEARBUILT 1924UNITTYPE 1+1

942 Curson Avenue, West Hollywood, CA 90046

833 Sierra Bonita Avenue, West Hollywood, CA90046

918N GardnerStreet, West Hollywood,CA90046

1

2

RENT $2,900PRICE PERSQFT $4.00YEARBUILT 1921UNITTYPE 2+1


COMPARABLESONMARKET

On Market Comps1 1223 N Hayworth Avenue

942 N. Curson

1


COMPARABLESON MARKETCOMPS

1

SALEPRICE $1,900,000 SALEPRICE $2,300,000# OF UNITS 4 # OF UNITS 4BUILDINGSF 3,572 BUILDINGSF 4,434PRICE/SF $532 PRICE/SF $518.72PRICE/UNIT $475,000.00 PRICE/UNIT $575,000.00

942 Curson Avenue, West Hollywood, CA 90046 1223 N Hayworth Avenue, West Hollywood, CA90046

www.CONCORD-RE.com | [email protected] | 310.551.0660

449 South Beverly Drive, First Floor, Beverly Hills, CA 90212OFFERINGMEMORANDUM

BRE# 01090251D: 310-900-9505

Eric von Bluecher

[email protected]

942 curson ave west hollywood ca 90046

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