3055-3057 Hollycrest Drive LOS ANGELES CA 90068files.constantcontact.com/796e91ba001/7251bf4c-8309-40d5-bb70-… · Los Angeles, CA 90068. LOCATION LOCATIONOVERVIEW ... Some of the

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

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

3055-3057 Hollycrest DriveLOS ANGELESCA 90068

OFFERING MEMORANDUM

BEAUTIFUL SPANISH STYLE 5 UNITS IN HOLLYWOOD HILLS

PRESENTEDBY

Kenny Stevens

BRE#01090251

310.551.0660 Ext. 141 direct

[email protected]

Our mission

LOCATIONLocation Overview

Market Aerial

New Developments

PROPERTY SUMMARYProperty Highlights

Property Details Property

Location Aerial Photo

Parcel Orientation

Photography

FINANCIALSFinancial Overview

Rent Roll

COMPARABLESSales Comps

Rent Comps

MARKETING PACKAGEOVERVIEW



Managing Partner / Senior Vice President

3055-3057 Hollycrest DriveLos Angeles, CA 90068

ABOUT US

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 any inaccuracies.

Our world has changed and so has the business of real estate. It’s not enough to work with a typical real estate

company. At Concord, we think of ourselves as your partner - one who can bring every aspect of your portfolio

together under one roof, combining corporatecapabilities with a family feel.

Concord is the evolution of real estate. We’re changing the game and moving above and beyond what

you’ve come to expect. This is real estate unified; next-level services that seamlessly connect the dots so you

don’t have to. From acquisition to management to construction to the disposition, Concord is elevating your

experience every step of the 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.

OUR MISSION 3055-3057 Hollycrest DriveLos Angeles, CA 90068


LOCATION

3055-3057 Hollycrest Drive LOS ANGELES CA 90068

LOCATIONLOCATION OVERVIEW

HOLLYWOOD HILLS

The Hollywood Hills are the area young money and celebrity are drawn to more than any other

neighborhood in Los Angeles. The proximity to the best shopping, dining, and nightlife on the Westside

of Los Angeles combined with breathtaking views and a sense of privacy explain the draw for young

Hollywood and celebrities from industries such as music and sports. Neighborhoods in Hollywood Hills

West include the Bird Streets, Doheny Estates, Sunset Plaza, Outpost Estates, Whitley Heights, Laurel

Canyon, Nichols Canyon, Mt. Olympus, and Hollywood Heights. Neighborhoods within Hollywood Hills

East include Beachwood Canyon, Lake Hollywood, Lake Hollywood Estates, Hollywoodland, Hollywood

Dell, Franklin Village, Hollywood Knolls, and Hollywood Manor.


LOCATIONLOCATION OVERVIEW

3055-3057 Hollycrest Drive - The heart of Hollywood is 2.2 miles to the south, Studio City is 2.5 miles north

west, Universal Studios and Universal City Walk are less than a mile away, and 1.9 Miles from Warner Bros

Studio in Burbank. Some of the best hiking and biking trails, public golf, and picnic areas in Los Angeles

are 3.5 miles east of the property in Griffith Park. The property is 1.5 miles away from the famous Runyon

Canyon Park. The Hollywood Bowl, one of the most prominent concert venues in the city, is 1.6 miles

south. Trendy Franklin Village, just 2.5 miles to the southeast, is lined with street-side cafes, coffee shops,

bars, and retail stores. The famous Hollywood Forever Cemetery, home to outdoor film screenings, is just

4.5 miles south. The property’s location near The 101 Hollywood Freeway allows for quick and easy

access to numerous parts of Greater Los Angeles. Additionally, 3055 Hollycrest Drive is located just

minutes from Universal City Metro station, connecting Hollywood with Downtown/Chinatown to the

southeast and Hollywood, Universal City and North Hollywood to the northwest.


LOCATIONMARKET AERIAL

GriffithObservatory

101

Hollywood Bowl


3055 Hollycrest Dr

Hollywood Sign

Studio City

BeachwoodCanyon

PROPERTY SUMMARY



PROPERTY SUMMARYPROPERTY HIGHLIGHTS


* Conveniently located in the hills between Hollywood & Studio City.

* Close to major Studios in Universal City, Burbank &Hollywood

* Surrounded by multi-million dollar single family homes

* Roof, plumbing and electrical have all been upgraded in the last 7 years

* (1) 2+1 with private patio, (2) large 1+1 and (2) large studios

* The 2-bed and large 1-bed units have full-size washer/dryer and front+rear entry

* Hardwood floors, arched doorways, unique built-ins

* 4 garages create additional income potential

* Abundant street parking in addition to the 4 garages

* Beautifully landscaped and maintained



PROPERTY SUMMARYPROPERTY DETAILS

Units (1) 2+1 with private patio, (2) large 1+1, (2) StudioMajor Intersection Hollycrest Dr & Cahuenga BlvdMarket Hollywood HillsAPN 5579-039-009Zoning Type LARD1.5Building Size 3,151 square feet

PROPERTY DETAILS


PROPERTY SUMMARYPROPERTY AERIAL


3055-3057 Hollycrest Dr

PROPERTY SUMMARYPROPERTY PHOTOS











FINANCIALS


FINANCIALSFINANCIAL OVERVIEW


FINANCIALSRENT ROLL



COMPARABLES


COMPARABLESSALES COMPS

Sales Comps

2419 Cheremoya Ave

6100-6110 Glen Adler St

1954 Hillcrest Rd

3325 Primera Ave

3469-3657 Regal Pl

3055 Hollycrest Dr



1

3055-3057 Hollycrest Dr, Los Angeles, CA 90068

1954 Hillcrest Rd, Los Angeles, CA 90068 6100-6110 Glen Adler St, Los Angeles, CA 90068

2419 Cheremoya Ave, Los Angeles, CA 90068

Sale Price $2,295,000

COE 4/7/17

# of Units 7

Building SF 5,193

Price/SF $441.94

Price/Unit $327,857

Year Built 1962


COE 3/21/17

# of Units 6

Building SF 4,613

Price/SF $533.28

Price/Unit $410,000

Year Built 1949


COE 11/30/16

# of Units 11

Building SF 9,067

Price/SF $518.36

Price/Unit $427,273

Year Built 1938

3325 Primera Ave, Los Angeles, CA 90068 3469- 3657 Regal Pl, Los Angeles, CA 90068


COE 2/15/17

# of Units 8

Building SF 7,311

Price/SF $369.31

Price/Unit $337,500

Year Built 1958


COE 2/17/17

# of Units 5

Building SF 5,456

Price/SF $403.23

Price/Unit $440,000

Year Built 1938

Listed for $1,600,000

# of Units 5

Building SF 3,151

Price/SF $508

Price/Unit $320,000

Cap Rate 3.69%

GRM 16.27

Year BuiltUNITS UNIT TYPE

1 2 Bed/1 Bath

2 1 Bed/1 Bath

2 Studio

UNITS UNIT TYPE

3 2 Bed/1.5 Bath

3 2 Bed/1 Bath

1 1 Bed/1 Bath

UNITS UNIT TYPE

5 2 Bed/1 Bath

1 1 Bed/1 Bath

UNITS UNIT TYPE

1 1 Bed/1 Bath

UNITS UNIT TYPE

6 2 Bed/1 Bath

2 1 Bed/1 Bath

UNITS UNIT TYPE

1 3 Bed/1.5 Bath

1 2 Bed/1.5 Bath

1 2 Bed/1 Bath

2 1 Bed/1 Bath



Sales Comps

3339 Primera Ave

2069 Paramount Dr

1743 Courtney Ave

3055 Hollycrest Dr



1


1743 Courtney Ave, Los Angeles, CA 900462069 Paramount Dr, Los Angeles, CA 90068

3339 Primera Ave, Los Angeles, CA 90068


COE 10/25/16

# of Units 4

Building SF 3,561

Price/SF $489.76

Price/Unit $436,013

Year Built 1956


COE 11/30/16

# of Units 3

Building SF 2,849

Price/SF $645.84

Price/Unit $613,333

Year Built 1955


COE 10/20/16

# of Units 3

Building SF 94,280

Price/SF $411.49

Price/Unit $587,058

Year Built 1926

Listed for $1,600,000

# of Units 5

Building SF 3,151

Price/SF $508

Price/Unit $320,000

Cap Rate 3.69%

GRM 16.27

Year BuiltUNITS UNIT TYPE

1 2 Bed/1 Bath

2 1 Bed/1 Bath

2 Studio

UNITS UNIT TYPE

1 3 Bed/2 Bath

3 1 Bed/1 Bath

UNITS UNIT TYPE

2 3 Bed/3 Bath

1 1 Bed/1 Bath


UNITS UNIT TYPE

1 3 Bed/2.5 Bath

1 2 Bed/1 Bath

1 1 Bed/1 Bath

COMPARABLESRENT COMPS

8

29 Navy St

40 Clubhouse Ave

1403 Innes Place

6728 Hillpark Dr

3143 Hollycrest Dr

3389 Bennett Dr # 22

RentComps

3055 Hollycrest Dr


COMPARABLESRENT COMPS

3143 Hollycrest Drive #2, Los Angeles, CA 90068

6728 Hillpark Drive, Los Angeles, CA 90068

RENT $2,999

UNIT TYPE 2+1

UNIT SIZE 963 SF

RENT $2,225

UNIT TYPE 1 + 1

UNIT SIZE 750 SF


RENT $2,895

UNIT TYPE 2 + 1RENT $1,333 - $1,688

UNIT TYPE 1 + 1


3389 Bennett Drive #22, Los Angeles, CA 90068

RENT $3,395

UNIT TYPE 2 + 2

UNIT SIZE 1,500 SF



BRE# 01090251

D: 310-551-0660 Ext. 141

[email protected]

KENNY STEVENS

OFFERING MEMORANDUM

Documents

3055-3057 Hollycrest Drive LOS ANGELES CA 90068files.constantcontact.com/796e91ba001/7251bf4c-8309-40d5-bb70-… · Los Angeles, CA 90068. LOCATION LOCATIONOVERVIEW ... Some of the