3792 ASHWOOD AVE LOS ANGELES CA 90066images2.loopnet.com/d2/wtz6tBf9KHLsf8fyMhkyNjxEYwgx1xBFmUL… · LOCATION LOCATIONOVERVIEW MAR VISTA - LOS ANGELES, CA 90066 3792 Ashwood Ave,

7 UNITS IN MAR VISTA SHORT BIKE RIDE TO VENICE BEACH

3792 ASHWOOD AVELOS ANGELESCA 90066

OFFERING MEMORANDUMKenny Stevens BRE# 01090251310.968.7005 [email protected]

Our mission

LOCATION OVERVIEWMarket OverviewLocation Overview Map

PROPERTY SUMMARYProperty Highlights

Property Details

Property Location

Aerial Photo

Parcel Orientation

Photography

FINANCIALSFinancial Overview

Rent Roll

COMPARABLESSales Comps

Rent Comps – Unfurnished Long-Term Rentals

Rent Comps – Furnished Short-Term Rentals

MARKETING PACKAGEOVERVIEW

PRESENTEDBY

Kenny Stevens

BRE# 01090251

310.968.7005 cell

[email protected]

3792 ASHWOOD AVELOS ANGELES, CA 90066

449 South Beverly Drive, First Floor, Beverly Hills, CA 90212BRE#01931128

ABOUT US

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.


This information has been secured from sources we believe to be reliable, but we make norepresentations or warranties, expressed or implied, as to the accuracy of the information.

Buyer must verify the information and bears all risk for any inaccuracies.BRE#01931128

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


This information has been secured from sources we believe to be reliable, but we make norepresentations or warranties, expressed or implied, as to the accuracy of the information.

Buyer must verify the information and bears all risk for any inaccuracies.BRE#01931128

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.

LOCATION


Kenny Stevens BRE# 01090251310.968.7005 [email protected]

LOCATIONLOCATION OVERVIEW

MAR VISTA - LOS ANGELES, CA 90066

3792 Ashwood Ave, is located in the booming, culturally rich neighborhood of Mar Vista — Close to the MarVista Sunday Farmer's Market, Venice Beach, Marina Del Rey, Silicon Beach, Santa Monica, and Culver City.

Located only a short bike ride from trendy Abbot Kinney Blvd where some of the best shopping and

restaurants in LA are located. Easy commute to LAX, Downtown LA and Beverly Hills and all that West LA has

to offer!

Over the course of just a couple of years, Mar Vista has been among the most significant emerging

submarkets in Los Angeles. Its central location on the Westside along with its proximity to Venice and Silicon

Beach has made this area irresistible to residents. With Venice and Playa Vista filling up fast and Santa Monica

virtually out of space, developers and brokers are eying Mar Vista as the next prevalent neighborhood.

Venice has become one of the most expensive neighborhoods in Los Angeles. According to the real estatewebsite Zillow, it is the seventh most expensive neighborhood in which to buy a house, its median home value

— $1,578,200 — coming in just behind the Hollywood Hills and just ahead of Beverlywood. According to

ApartmentList.com, the average rental price of a two-bedroom apartment in Venice is $4,900 a month — well

ahead of Westwood, Santa Monica, Brentwood, even Bel-Air and the Hollywood Hills. When you rank

neighborhoods in the city of L.A. by price per square foot of real estate, Venice becomes even loftier:

According to data provided to L.A. Weekly by Zillow, Venice is tied with Bel-Air for No. 2. Only the Pacific

Palisades is more expensive per square foot. As for median rental price per square foot, Venice is the most

expensive place in L.A.

Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to over 500 techstartup companies. Major technology companies have opened Offices in the region including Google,

Yahoo!, YouTube, BuzzFeed, Facebook, AOL, Electronic Arts, EdgeCast Networks, and MySpace. The region is

considered the second- or third-largest tech hub in the world, according to various reports. This has had major

impacts on the type and availability of office space and on home prices in Mar Vista, Playa Vista, Playa Del

Rey, Westchester, Santa Monica, and Venice, as these areas have become more desirable due to this

influx.


LOCATIONLOCATION OVERVIEW

Penmar Golf Course and

Recreation Center

Hatchet Hall

Sweet Lucie’s Ice Cream Shop

Venice Canals

Rose AvenueWhole FoodsCerveteca

Café GratitudeRose Café

The Yoga CollectiveMoon Juice

Groundwork Coffee

Abbot Kinney BlvdSalt Air Gjelina

Salt & StrawIntelligentsia Coffee

SatineAust

The Butcher’s DaughterAviator Nation

Erewhon Market

Marina Del Rey

Gold’s GymVenice High School

Superba Food + Bread

Oakwood

Recreation

Center

Costco

Marina Del Rey Hospital

AMC Dine-In Marina 6

Yard House

Ulta Beauty

Barnes and Noble

Mitsuwa Market

Place

Alana’s Coffee Roasters

3792 ASHWOOD AVE



PROPERTY SUMMARY

3792 ASHWOOD AVE LOS ANGELESCA 90066


PROPERTY SUMMARYPROPERTY HIGHLIGHTS

7 UNITS IN MAR VISTA• Excellent location on the Venice-Mar Vista border

• Easy bike ride to the beach, Abbot Kinney Blvd, Santa Monica

• 7 open parking spaces

• 2 units have been beautifully renovated

• New front fence and landscaping

• Rents can be increased by 5% per year


PROPERTY SUMMARYPROPERTY DETAILS

PROPERTY DESCRIPTION

Units (1)1+1, (6) StudiosMajor Intersection Venice Blvd and Ashwood Ave

Market Mar VistaAPN 4245-021-001Zoning Type LARD1.5Building SF 2,499 SF

PROPERTY DETAILS

3792 Ashwood Avenue, located in the rapidly growing Westside neighborhood of Mar Vista. This 1949 bungalow-style property is located just 1.5 miles from the world-famous Venice Beach Boardwalk. Entertainment value and proximity to a variety of westside neighborhoods add to this property’s long-term appreciation. The building has six (6) studios as well as one (1) 1+1 unit, all of which have hardwood floors, private entrances, and individual parking spaces. Two units have been beautifully renovated with stainless steel appliances, new fixtures, quartz counter top, new cabinets, and updated bathrooms. Additional renovations to the property include; new contemporary landscaping, new front fence, as well as a newly paved parking lot.


PROPERTY SUMMARYPROPERTY LOCATION

3792 ASHWOOD AVE


PROPERTY SUMMARYPROPERTY AERIAL

Venice Blvd Venice Blvd


PROPERTY SUMMARYPARCEL ORIENTATION


PROPERTY SUMMARYPROPERTY PHOTOS












FINANCIALS




FINANCIALSVALUATION - $2,050,000


FINANCIALSRENT ROLL



COMPARABLES



COMPARABLESSALES COMPS

1

3792 Ashwood Ave, Los Angeles 90066

2700 Abbot Kinney Blvd, Venice, CA 90291

4320-4326 Inglewood Blvd, Los Angeles, CA 90066

Sale Price $5,650,000

COE 7/13/2016

Number of Units 15

Building SF 11,180

GRM 22.84

CAP 2.27%

Price/Unit $376,667

Year Built 1959

Listed For $2,050,000

Number of Units 7

Building SF 2,499

GRM 16.05

CAP 3.74%

Price/Unit $292,857

Year Built 1949UNITS UNIT TYPE

1 1 Bed/1 Bath

6 Studio/1 Bath

3632 S Centinela Ave, Los Angeles, CA 90066Sale Price $2,200,000

COE 3/31/2017

Number of Units 6

Building SF 6,200

GRM 17.94

CAP N/A

Price/Unit $366,667

Year Built 1944

UNITS UNIT TYPE

2 3 Bed/2 Bath

2 2 Bed/2 Bath

2 2 Bed/1 Bath


COE 5/4/2017

Number of Units 6

Building SF 5,316

GRM N/A

CAP 2.57%

Price/Unit $391,667

Year Built 1953

UNITS UNIT TYPE

1 2 Bed/1.5 Bath

8 2 Bath/1 Bath

6 1 Bed/1 Bath

UNITS UNIT TYPE

4 2 Bed/1 Bath

2 1 Bed/1 Bath

561 Washington Blvd, Venice, CA 90292


COE 3/8/2017

Number of Units 10

Building SF 6,280

GRM 19.69

CAP 2.96%

Price/Unit $425,000

Year Built 1954

UNITS UNIT TYPE

2 2 Bed/1 Bath

8 1 Bath/1 Bath

3910 Beethoven St, Los Angeles, CA 90066Sale Price $4,075,000

COE 9/26/2017

Number of Units 13

Building SF 7,841

GRM

CAP

Price/Unit $313,462

Year Built 1969UNITS UNIT TYPE

13 1 Bed/1 Bath

5

3913 Beethoven St, Los Angeles, CA 90066Sale Price $1,980,000

COE 9/5/2017

Number of Units 4

Building SF 2,596

GRM 18.33

CAP 4.14%

Price/Unit $495,000

Year Built 1964

UNITS UNIT TYPE

1 2 Bed/1 Bath

3 1 Bath/1 Bath

6

3745 S Centinela Ave, Los Angeles, CA 90066Sale Price $1,763,000

COE 8/15/2017

Number of Units 5

Building SF 4,554

GRM 17.97

CAP 3.53%

Price/Unit $352,600

Year Built 1959

UNITS UNIT TYPE

3 2 Bed/1 Bath

2 1 Bed/1 Bath

7


COMPARABLESSALES COMPS

Sales Comps

3910 Beethoven St

3632 S Centinela Ave

3913 Beethoven St

4326 Inglewood Blvd

561 Washington Blvd

2700 Abbot Kinney Blvd

3745 S Centinela Ave

3792 ASHWOOD AVE

5

6

7 5

6

7


COMPARABLESRENT COMPS – Unfurnished Long Term Rentals

UNIT TYPE 1 + 1

RENT $2,350

UNIT TYPE Studio + 1

RENT $1,020-1,795

4

3792 Ashwood Ave, Los Angeles 90066

11923 Venice Boulevard APT 2, Los Angeles, CA 90066 3629 Beethoven St, Los Angeles, CA 90066


RENT $2,399

UNIT TYPE 1 + 1

11900 Venice Boulevard APT 4, Los Angeles, CA 90066

RENT $2,195

UNIT TYPE 1 + 1

RENT $1,695

UNIT TYPE Studio

12602 Venice Blvd APT 110, Los Angeles, CA 90066

RENT $1,625

UNIT TYPE Studio

Comments: Subject Property. The 1 bedroom unit and a Studio unit have been

fully renovated with hardwood floors, new kitchen and bathroom.

Comments: Gated entry. Vinyl floors throughout. 1 parking space.

4

2700 Abbot Kinney Blvd APT 6, Venice, CA 90291

RENT $2,495

UNIT TYPE 1 + 1

Comments: No parking. Closer to the beach. Not as updated as subject

property.

5

6

21 Westminster Ave APT 106, Venice, CA 90291

RENT $1,900

UNIT TYPE Studio

Comments: 358 sqft studio. No parking. Closer to the beach. Unit interior is

outdated and not as nice as subject property.

2610 Abbot Kinney Blvd, Venice, CA 90291

RENT $1,650

UNIT TYPE Studio

Comments: No parking. 1 mile to the beach. Unit located on 1st floor of

2 story building. Unit is outdated with old appliances and carpet.

7

COMPARABLESRENT COMPS – Unfurnished Long Term Rentals

Rent Comps

11923 Venice Blvd

12602 Venice Blvd

21 Westminster Ave

11900 Venice Blvd

3629 Beethoven St



3792 ASHWOOD AVE

5

6

7

5

67


COMPARABLESRENT COMPS – Furnished Short Term Rentals

WEEKLY RENT $903

UNIT TYPE Studio

4

Private Guest Studio 2 Miles from Beach

Super Cute Venice/Mar Vista Studio Apt

Mar Vista – New Garden Guest House

Private studio in a quiet neighborhood

Cozy Industrial Artist Loft Style Guest House in Mar Vista

WEEKLY RENT $553

UNIT TYPE Studio

WEEKLY RENT $693

UNIT TYPE Studio

WEEKLY RENT $560

UNIT TYPE Studio

WEEKLY RENT $1,043

UNIT TYPE Studio

1

2

3

4

5



OFFERING MEMORANDUMKenny Stevens BRE# 01090251310.968.7005 [email protected]

Documents

3792 ASHWOOD AVE LOS ANGELES CA 90066images2.loopnet.com/d2/wtz6tBf9KHLsf8fyMhkyNjxEYwgx1xBFmUL… · LOCATION LOCATIONOVERVIEW MAR VISTA - LOS ANGELES, CA 90066 3792 Ashwood Ave,