6 UNITS IN WESTWOOD
10622 EASTBORNE AVE, LOS ANGELES, CA 90024
PLAY DRONE VIDEO
EXCLUSIVELY LISTED BY:
BRIAN NOHNOHCO Real Estate
O: (213) 804-7647
C: (949) 308-5775
CaBRE Lic# 01438155
2
CONFIDENTIALITY
This Investment Offering Memorandum has been prepared by the NOHCO Real Estate (“Broker”) for use of prospective purchasers of (the “Property”). Neitherthe Broker nor the Owner of the Property (“Owner”) makes any representation or warranty, expressed or implied, as to the completeness or the accuracy of thematerial contained in the Offering Memorandum.
Although the information contained herein is believed to be correct, Owner and Broker, disclaim any responsibility for inaccuracies and expect prospectivepurchasers to exercise independent due diligence in verifying all such information. Further, Broker, Owner and its employees disclaim any and all liability forrepresentations and warranties, expressed and implied, contained in, or for omission from, the Offering Memorandum, or any other written or oral communicationtransmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that the business or affairs of the Property orOwner since the date of preparation of the Offering Memorandum have remained the same. Analysis and verification of the information contained in theInvestment Offering Memorandum is solely the responsibility of the prospective purchaser.
The Offering Memorandum is a solicitation of interest and is not an offer to sell the Property. The Owner and Broker each expressly reserve the right, at their solediscretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate the discussions with any entity at any time with or withoutnotice. Owner shall have no legal commitment or obligations to any entity reviewing the Investment Offering Memorandum, or making an offer to purchase theProperty, unless and until such offer is approved by the Owner, a written agreement for the purchase of the Property has been fully executed, delivered andapproved by Owner and its legal counsel and any conditions to Owner’s obligations there under have been satisfied or waived.
The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are ofa confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest of confidence, that you will notphotocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained byyou if necessary, for your determination of whether or not to make a proposal and from whom you have obtained the agreement of confidentiality) without priorwritten authorization of Owner and Broker and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to theinterest of the Owner or Broker.
CHAD LUNDDouglas Elliman
O: (424) 202-3295
C: (310) 801-2641
CaBRE Lic# 00998185
WOLF BASCHUNGMW Team Brokerage
O: (213) 927-2113
C: (213) 422-2969
CaBRE Lic# 01369850
10622 EASTBORNE AVE, LOS ANGELES, CA 90024
10622 EASTBORNE AVE, LOS ANGELES, CA 90024
TABLE OF CONTENTS
3
OVERVIEW
• Summary
• Highlights
PROPERTY
• Property Photos
• Drone Aerials
LOCATION
• Area Map
• Neighborhoods
• Nightlife
FINANCIALS
• Rent Roll
• Setup
COMPARABLES
• Sold
• Rents
DEMOGRAPHICS
04
06
08
13
17
23
10622 EASTBORNE AVE
LOS ANGELES, CA 90024
APN: 4326-034-005
Units: 6
Building Size: 4,979 SF
Lot Size: 6,500 SF
Year Built: 1950
Zoning: LA-R3
Market: West Los Angeles
Submarket: Westwood
Cross Street: Manning Ave
OFFERING PRICE:
$3,295,000
EASTBORNE SIX
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 4
10622 EASTBORNE AVE, LOS ANGELES, CA 90024
PROPERTY OVERVIEW
Eastborne Six is a classic 6 unit multifamily building in the top
notch Westwood / Century City area of West Los Angeles,
California. The Property is a 2 story structure consisting of (4)
Two bed/One bath and (2) One bed/One bath units, sitting on
a 6,500 SF parcel zoned LA-R3. The ample layout is
configured over 4,979 SF of living space, built in 1950, and
constructed with a wood frame, stucco finish with a pitched
roof. There are 4 garages and 6 parking spaces. The
property will be delivered with 4 vacant units providing unique
immediate upside opportunity in the investment.
*Property is subject to City of Los Angeles Rent Control.
PROPERTY FEATURES
➢ First time on market in 60 years!
➢ Prime Location in Westwood near Century City, UCLA,
& Beverly Hills.
➢ R3 zoning for future development potential.
➢ Four units to be delivered vacant at close of escrow.
PROPERTY SUMMARY
5
BIRD’S EYE VIEW
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 6
AERIAL SHOT
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 7
NEIGHBORHOOD
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 8
Eastborne Six is situated on the
southern side of Westwood,
across from Century City, and
bordered to the east by
Beverly Hills, Holmby Hills and
Bel-Air to the north, and
Brentwood to the west.
Attractions besides the UCLA
campus include Westwood
Village, with its historic motion
picture theaters, restaurants and
shopping, Westwood Village
Memorial Park Cemetery and
the Hammer Museum. Holmby
Hills is considered one of the
wealthiest residential areas in
Los Angeles, and the Geffen
Playhouse attracts theater-
goers. Nearby Century City is
the epicenter of business and
finance in Los Angeles, and with
the $1 billion make-over of the
Westfield Century City mall, the
premier West LA shopping
destination.
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 9
WESTWOOD MAP
LOCATION AREA
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 10
NEARBY AMENITIES
10622 EASTBORNE AVE, LOS ANGELES, CA 90024
NEAR CENTURY CITY WESTFIELD MALL WORLD RENOWNED UCLA IN YOUR BACKYARD
WESTWOOD AT NIGHT IS MAGICAL OTHER SIDE OF SANTA MONICA BLVD.
11
LOCAL ATTRACTIONS
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 12
20TH CENTURY FOX STUDIOS VINTAGE THEATERS AND LA LANDMARKS
BEVERLY HILLS & RODEO DRIVE ART IN THE NEIGHBORHOOD: HAMMER MUSEUM
FINANCIALS
UNIT # TYPE TENANT CURRENT RENTS PRO FORMA RENTS DEPOSIT LEASE START LEASE END
10622 2+1 Vacant $0 $3,450
10622 1/2 2+1 Vacant $0 $3,450
10624 1+1 Owner $0 $2,250
10624 1/2 1+1 Tenant $1,596.59 $2,250 $1,596.50 2/1/15 MTM
10626 2+1 Tenant $2,214.50 $3,250 $3,225.00 3/1/18 2/28/19
10626 1/2 2+1 Owner $0 $3,250
TOTAL $3,811.09 $17,900 $4,821.50
RENT ROLL
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 14
PRICING SUMMARY SCHEDULED INCOME
Purchase Price
Down Payment
PROPERTY SUMMARY
APN#
No. Units
No. Stories
Year Built ANNUAL OPERATING INFORMATION
Building Sq. Ft.
Lot Size Gross Scheduled Rent
Parking Potential Laundry Income
Zoning Less: Vacancy Reserve
Meter (Separate) Effective Gross Income
Meter (Master) Estimated Expenses
Property Taxes (1.25%)
FINANCIAL INDICATORS Insurance
Pro Forma Cap Rate Utilities (Water)
Pro Forma GRM Maintenance & Repairs
Price Per Unit Gas & Electricity
Price Per Sq. Ft. Pest Control
Tenant Occupancy Legal/Licenses
Reserves (2%)
PROPOSED FINANCING
Loan Type
Percent Down Expenses Per Unit
Loan Amount Expenses Per SF
Interest Rate % of GSI
Amortized
Monthly Payment
Pro Forma Rents
Unit Type No. Units Avg. Per Unit Total$3,295,000
100% $3,295,000
1 bed / 1 bath 2 $1,923 $3,847
2 bed/1 bath 4 $3,091 $12,365
$16,2116
2
1950
Pro Forma
$2,702
4326-034-005
Average/Total 6
4,979
$194,5336,500
$4804 Garage & 6 Spaces
3% ($5,850)R3
$189,163Electric & Gas
Water
($41,188)
($2,770)
33%
($2,563)3.90%
($7,018)16.94
($146)$549,167
($750)
$661.78 ($2,400)
($3,783)
Total Expenses ($60,617)All Cash
100% $10,103
$0 $12.17
4.50% 32%
30Net Operating Income # 3.90% $128,546
$0
INVESTMENT SUMMARY
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 15
COMPARABLES
ADDRESS YEAR UNITS BLDG LOT PRICE CAP GRM $/Unit $/SF CLOSED DISTANCE
10622 Eastborne Ave
1950 6 4,979 6,500 $3,295,000 $549,167 $661.78Subject
Property
1
1946 Manning Ave
1930 4 2,768 6,755 $2,000,000 28.31 $500,000 $722.54 8/31/17 0.3 mi
2
11061 Ohio Ave
1947 3 4,316 6,060 $2,050,000 38.43 $683,333 $474.98 10/13/17 0.9 mi
3
1433 S Bentley Ave
1949 3 2,327 5,950 $2,050,000 34.15 $683,333 $880.96 10/13/17 0.9 mi
SALES COMPS
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 17
ADDRESS YEAR UNITS BLDG LOT PRICE CAP GRM $/Unit $/SF CLOSED DISTANCE
4
10465 Ashton Ave
1935 3 4,138 6,483 $2,650,000 3.0% 21.05 $883,333 $640.41 12/27/17 0.7 mi
5
10585 Ashton Ave
1936 2 4,218 6,261 $2,700,000 1.9% 27.78 $1,350,000 $640.11 5/17/18 0.5 mi
6
1959 S Beverly Glen
1953 5 6,690 6,354 $2,805,000 3.4% 18.51 $561,000 $419.28 2/13/18 0.4 mi
7
1651 Camden Ave
1963 6 6,848 6,949 $2,952,000 2.7% 17.08 $492,000 $431.07 12/20/17 0.8 mi
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 18
SALES COMPS
ADDRESS YEAR UNITS BLDG LOT PRICE CAP GRM $/Unit $/SF CLOSED DISTANCE
8
1665 Manning Ave
2000 6 6358 6,464 $3,900,000 3.2% 19.62 $650,000 $613.40 2/7/18 0.1 mi
9
1751 S Bentley Ave
1986 7 7,674 6,239 $4,385,000 3.1% 20.47 $626,429 $571.41 4/20/18 0.8 mi
10
1016 Tiverton Ave
1929 13 12,567 11,746 $5,400,000 1.9% 20.18 $415,385 $429.70 10/3/17 0.9 mi
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 19
SALES COMPS
1946 Manning Ave, Los Angeles, Ca
11061 Ohio Ave, Los Angeles, Ca
1433 S Bentley Ave, Los Angeles, Ca
10465 Ashton Ave, Los Angeles, Ca
10585 Ashton Ave, Los Angeles, Ca
1959 S Beverly Glen Blvd, Los Angeles, Ca
1651 Camden Ave, Los Angeles, Ca
1665 Manning Ave, Los Angeles, Ca
1751 S Bentley Ave, Los Angeles, Ca
1016 Tiverton Ave, Los Angeles, Ca
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 20
SALES COMPS MAP
ADDRESS YEAR UNIT TYPE RENT RENT/SF UNIT SIZE DISTANCE
SUBJECT PROPERTY
10622 Eastborne Ave1950 1+1 $2,250
11743 Glendon Ave.
Los Angeles, Ca 900241974 1+1 $2,395 $2.82 850 0.6 mi
210558 Eastborne Ave.
Los Angeles, Ca 900241971 1+1 $2,095 $2.99 700 0.1 mi
310481 Eastborne Ave.
Los Angeles, Ca 900241949 1+1 $2,597 0.3 mi
410644 Eastborne Ave.
Los Angeles, Ca 900241974 1+1 $2,095 $2.67 785 0.1 mi
1 BED RENT COMPS
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 21
2 BED RENT COMPS
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 22
ADDRESS YEAR UNIT TYPE RENT RENT/SF UNIT SIZE DISTANCE
SUBJECT PROPERTY
10622 Eastborne Ave1950 2+1 $3,400
110600 Holman Ave.
Los Angeles, Ca 900241974 2+1 $3,400 $2.27 1,500 0.1 mi
21675 Manning Ave.
Los Angeles, Ca 900241959 2+1 $2,895 $3.05 950 0.1 mi
310666 Holman Ave.
Los Angeles, Ca 900241950 2+1 $2,845 $3.25 876 0.2 mi
410558 Eastborne Ave.
Los Angeles, Ca 900241971 2+2 $2,545 $2.52 1,010 0.1 mi
510576 Eastborne Ave.
Los Angeles, Ca 900241973 2+1 $2,795 0.1 mi
610614 Eastborne Ave.
Los Angeles, Ca 900241965 2+2 $3,200 $2.87 1,114 0.1 mi
DEMOGRAPHICS
DEMOGRAPHICS
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 24
DEMOGRAPHICS
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 25
CHAD LUNDDouglas Elliman
O: (424) 202-3295
C: (310) 801-2641
CaBRE Lic#00998185
BRIAN NOHNOHCO Real Estate
O: (213) 804-7647
C: (949) 308-5775
CaBRE Lic#01438155
WOLF BASCHUNGMW Team Brokerage
O: (213) 927-2113
C: (213) 422-2969
CaBRE Lic#01369850
10622 EASTBORNE AVE, LOS ANGELES, CA 90024 26
PRESENTED BY