MARKETING PACKAGE
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
8803 VAN NUYS BLVD
MARKETING PACKAGE TABLE OF CONTENTS 01
Property Overview
02 Financial Analysis 03 Location Overview CONTACT INFORMATION
danny spiwak Associate (424) 325-2645
mike hanassab Senior Director (424) 325-2642
elliot hassAn Senior Director (424) 325-2643
02
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
SECTION ONE
PROPERTY OVERVIEW
03
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
PROPERTY OVERVIEW
DETAILS
Street Address City State Zip Code APN
8803 Van Nuys Blvd Panorama City CA 91402 2653-001-035
Number of Units
16
Parking
Non-Covered
Number of Buildings
1
Zoning
LAR3
Number of Stories
2
Unit Mix
Water
Master-Metered
Electric
Master-Metered
Rentable Square Feet
14,868 SF
Gas
Individually Metered
Lot Size
24,418 SF
Construction
Wood-frame Stucco
Year Built
04
1976
Roof
(14) 2 Bed / 1 Bath (2) 3 Bed / 2 Bath
Flat
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
PROPERTY OVERVIEW
HIGHLIGHTS
The Offering James Capital Advisors is pleased to present, 8803 Van Nuys Blvd, located in Panorama City, CA. This 16-unit apartment building sits on over 24,000 square feet of land and was constructed in 1976. The property has a solid unit mix of fourteen (14) 2 Bed / 1 Bath and two (2) 3 Bed / 2 Bath units all with private patios or balconies. The buildings electrical system was recently upgraded. The roof has been replaced less than 5 years ago, and is fully copper piped. This property is not on the Los Angeles Soft-Story Retrofit program (buyer to verify). Already boosting a Walk Score of 82, this property will be walking distance to a station for the Van Nuys Blvd Light Rail project with an estimated completion date before the 2028 Los Angeles Olympics. Highlights • • • • • • • • • •
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Dense Blue Collar Rental Market 100% Collections During Covid-19 Each Unit Has a Private Balcony or Patio Building is Fully Copper Piped Not on California Seismic Retrofit List Walk Score of 82 Nearly 25% Rental Upside Upgraded Electrical System Roof Replaced Less than 5 Years Ago Some Units Recently Renovated
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
SECTION TWO
FINANCIAL ANALYSIS
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
FINANCIAL ANALYSIS
PRICING ANALYSIS
$3,500,000 Price
CAP Rate GRM $3,500,000
Gross Income
CURRENT
PRO FORMA
3.60%
5.77%
12.07
9.37
$279,834
$359,177
Price per Unit
$218,750
Expenses
$153,916
$157,090
Price per Square Foot
$235.40
NOI
$125,918
$202,087
This information has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless James Capital Advisors, Inc. from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
FINANCIAL ANALYSIS
FINANCING
Down Payment
$1,225,000 (35%)
Loan Amount
$2,275,000
Interest Rate
3.50%
Amortization / Fixed Period
30-Year / 5-Year
Term
360 Month
CURRENT
PRO FORMA
Debt Service
-$122,589
-$122,589
Pre-Tax Cash Flow
$3,329
Principle Reduction
-$43,660
Total Return
$46,989
08
(0.27%)
$79,498
(6.49%)
-$43,660 (3.84%)
$123,158
(10.05%)
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
FINANCIAL ANALYSIS
INCOME AND EXPENSE ANNUAL
INCOME
CURRENT
PRO FORMA
Base Rental Income
$289,921
Additional Income
ANNUAL
EXPENSE
CURRENT
PRO FORMA
$373,440
Taxes
$41,100
$41,100
$4,409
$4,409
Insurance
$7,434
$7,434
Gross Potential Income
$294,330
$377,849
Utilities
$49,954
$49,954
Vacancy Allowance
$14,496
Repairs & Maintenance
$8,000
$8,000
Effective Gross Income
$279,834
Management Fee
$11,193
$14,367
Operating Expenses
$153,916
Gardener
$1,800
$1,800
Net Operating Income
$125,918
Pest Control
$1,080
$1,080
Reserves
$4,000
$4,000
Direct Assessments
$1,500
$1,500
Trash
$15,855
$15,855
Onsite Manager
$12,000
$12,000
Operating Expenses
$153,916
$157,090
09
(5%)
$18,672
(5%)
$359,177 (55%)
$157,090 $202,087
(44%)
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
FINANCIAL ANALYSIS
RENT SCHEDULE UNIT #
UNIT TYPE
SQ. FOOTAGE
RENT
RENT PER SF
RENT
RENT PER SF
01
2 Bed / 1 Bath
720 SF
$1,494
$2.09
$1,895
$2.63
02
2 Bed / 1 Bath
720 SF
$1,507
$2.04
$1,895
$2.63
03
2 Bed / 1 Bath
720 SF
$1,472
$2.11
$1,895
$2.63
04
2 Bed / 1 Bath
720 SF
$1,520
$2.05
$1,895
$2.63
05
2 Bed / 1 Bath
720 SF
$1,475
$2.03
$1,895
$2.63
06
2 Bed / 1 Bath
720 SF
$1,464
$2.09
$1,895
$2.63
07
2 Bed / 1 Bath
720 SF
$1,507
$2.49
$1,895
$2.63
08
3 Bed / 2 Bath
825 SF
$1,791
$2.18
$2,295
$2.78
09
2 Bed / 1 Bath
720 SF
$1,800
$2.09
$1,895
$2.63
10
2 Bed / 1 Bath
720 SF
$1,507
$1.66
$1,895
$2.63
11
2 Bed / 1 Bath
720 SF
$1,198
$2.09
$1,895
$2.63
12
2 Bed / 1 Bath
720 SF
$1,507
$2.04
$1,895
$2.63
14
2 Bed / 1 Bath
720 SF
$1,469
$1.65
$1,895
$2.63
15
2 Bed / 1 Bath
720 SF
$1,185
$2.05
$1,895
$2.63
16
2 Bed / 1 Bath
720 SF
$1,475
$2.49
$1,895
$2.63
17
3 Bed / 2 Bath
825 SF
$1,791
$2.17
$2,295
$2.78
11,730 SF
$24,160
TOTAL
$31,120
*Sq. ft. of all units are estimated.
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
SECTION THREE
LOCATION OVERVIEW
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
Panorama City Panorama City
Panorama City is a neighborhood in the city of Los Angeles, California, in the San Fernando Valley. It has a generally young age range as well as the highest population density in the Valley. Panorama City is one of the youngest communities in the San Fernando Valley and one of the best-known planned communities in Los Angeles County. In an area originally part of one of the largest dairy and sheep ranches in Southern California, Panorama City was developed in the late 1940s by developer Fritz Burns. Panorama City is an excellent location to experience the excitement of Southern California living. Early signs proclaimed Panorama City “The Heart Of The Valley”. Encompassing zip code 91402, its central location between the 405 and 170 Freeways and north of the railroad line to Ventura makes it the most conveniently located area in the Valley for transportation; nearby are the Flyaway bus terminal to LAX, the Burbank airport, the 118, and 5 freeways, and a local Amtrak station. Panorama City is also a Metro bus transit hub, with a new light rail line along Van Nuys Blvd planned to open in 2028. Panorama City’s single family homes remain among the most affordable houses in the Valley. They are comparable in price to houses in the distant desert areas of Palmdale and Lancaster. With easy access to beaches, freeways and endless things to see and do, Panorama city is a perfect place to live and conduct business.
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
VAN NUYS
Van Nuys Van Nuys is a densely-populated neighborhood located in central San Fernando Valley. It’s bordered by other popular neighborhoods in the Valley, such as Valley Glen, Lake Balboa, Sherman Oaks, and Panorama City. Even though the San Fernando Valley has a reputation for being suburban, the Van Nuys neighborhood offers residents a more metropolitan feel, perhaps due to the community’s courthouse and many government buildings. Although this neighborhood has been in transition throughout the years, the arrival of new businesses, hotels, residences, restaurants, and shops has transformed the area. Located less than 20 miles away from LA’s Westside, Hollywood, Downtown LA, and other popular neighborhoods in the Valley, residents living in Van Nuys can easily get around town without a hitch. Cutting through the middle of the neighborhood is the 405 freeway (San Diego Freeway), but the community is also near the 101 (Ventura Freeway), 170 (Hollywood Freeway), 118 (Simi Valley Freeway), and the I-5 (Golden State Freeway). Residents living in this neighborhood can also skip the busy commute to LAX, and instead, hop on a flight out of Van Nuys Airport. Many residents in Van Nuys include families, professionals, and students from both UCLA and USC. Residents enjoy the neighborhood’s overall walkability as well as the community’s proximity to the middle of the action in both the San Fernando
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
DEVELOPMENTS
200 Apartments + Retail Development This new development in Panorama City will be a mixed-use project at 8141-8155 N. Van Nuys Blvd consisting of 200 studio, one-, two-, and three-bedroom apartments, 2,450 square feet of ground-floor retail space, and a detached 524-car parking structure capped by warehouse space. Takacs Architecture is designing the proposed development, which would place a seven-story podium-type building along Van Nuys Boulevard, while retaining existing open space adjacent to the Panorama Tower. The parking garage, slated for the western side of the project site, would stand four stories in height.
The ICON at Panorama Project The Project proposes the demolition of three existing vacant commercial buildings totaling 172,500 square feet of floor area and the removal of associated surface parking areas in order to construct an approximately 584,000 gross square-foot mixed-use development on an approximately 8.9-acre site. The Project involves the construction of seven buildings containing approximately 200,000 square feet of commercial floor area and 422 multi-family residential units. In addition, parking for approximately 1,690 vehicles and 858 bicycles would be provided on-site.
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
AERIAL
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
AERIAL
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
WALKABILITY 1.
Panorama Mall 8401 Van Nuys Blvd, Panorama City, CA 91402 0.4 MILES FROM SUBJECT PROPERTY
2. The Plant Shopping Center 7880 Van Nuys Blvd, Panorama City, CA 91402 1.2 MILES FROM SUBJECT PROPERTY
3. Vannord Center 14530 Nordhoff St, Panorama City, CA 91402 0.4 MILES FROM SUBJECT PROPERTY
4. St Genevieve High School 13967 Roscoe Blvd, Panorama City, CA 91402 1.1 MILES FROM SUBJECT PROPERTY
5. Alta California Elementary School 14839 Rayen St, Panorama City, CA 91402 0.4 MILES FROM SUBJECT PROPERTY
6. Sepulveda Recreation Center 8825 Kester Ave, Panorama City, CA 91402 0.7 MILES FROM SUBJECT PROPERTY
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
WALKABILITY
01 PANORAMA MALL
An Indoor Shopping mall with a variety of National Retailers.
02 THE PLANT SHOPPING CENTER
This shopping center has over 15 national retailers plus a theatre.
04 ST. GENEVIEVE HIGH SCHOOL
This private Roman catholic high school was established in 1959.
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03 VANNORD CENTER
This shopping center has national retailers that include walmart.
05 ALTA CALIFORNIA ELEMENTARY SCHOOL
Alta provides a first-rate education targeting Common Core Standards.
06 SEPULVEDA RECREATION CENTER
This recreation center has indoor soccer fields, volleyball and more.
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
POINT OF INTEREST 1.
Lake Balboa Park 6300 Balboa Blvd, Van Nuys, CA 91406 6.6 MILES FROM SUBJECT PROPERTY
2. Van Nuys Airport 16461 Sherman Way, Van Nuys, CA 91406 3.6 MILES FROM SUBJECT PROPERTY
3. CSU Northridge 18111 Nordhoff St, Northridge, CA 91330 5.4 MILES FROM SUBJECT PROPERTY
4. The Japanese Garden 6100 Woodley Ave, Lake Balboa, CA 91406 6.7 MILES FROM SUBJECT PROPERTY
5. The Getty 6100 Woodley Ave, Van Nuys, CA 91406 5.9 MILES FROM SUBJECT PROPERTY
6. Westfield Topanga & The Village 2627 N. Hollywood Way, Burbank, CA 91505 8.3 MILES FROM SUBJECT PROPERTY
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
POINT OF INTEREST
01 LAKE BALBOA PARK
open space with a 19,600 sq. ft. maritime-themed playground.
02 VAN NUYS AIRPORT
This general aviation airport has more than 200,000 annual flights.
04 THE JAPANESE GARDEN
This 6.5 Acre public Japanese Garden is a popular spot for visitors.
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03 CSU NORTHRIDGE
this public university has more than 39,000 enrolled students.
05 KAISER PERMANENTE MEDICAL CENTER
This medical center has emergency, urgent & pharmacy Services.
06 HOLLYWOOD BURBANK AIRPORT
This airport had more than 6 million total passengers in 2019.
8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
LOCATION OVERVIEW
DEMOGRAPHICS
POPULATION
1-Mile
3-Mile
5-Mile
2025 Projection
77,649
339,894
749,313
2020 Estimate
76,694
337,891
746,480
2010 Census
69,902
319,745
714,864
Growth ‘20 - ‘25
1.25%
0.59%
0.38%
Growth ‘10 - ‘20
9.72%
5.68%
4.42%
1-Mile
3-Mile
5-Mile
2025 Projection
19,561
91,638
216,683
2020 Estimate
19,332
91,183
216,169
17,691
86,771
208,728
Growth ‘20 - ‘25
1.18%
0.50%
0.24%
Growth ‘10 - ‘20
9.28%
5.08%
3.56%
Average Income
$61,996
$72,718
$80,216
Median Income
$46,622
$55,481
$60,387
HOUSEHOLDS
2010 Census
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8803 VAN NUYS BLVD, PANORAMA CITY, CA 91402
JAMES CAPITAL ADVISORS, INC.
DISCLAIMER
The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto. The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants. A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.
CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.
RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.
NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.
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www.jamescapitaladvisors.com
@jamescapitaladvisors
JAMES CAPITAL ADVISORS, INC.
THANK YOU FOR YOUR TIME CONTACT
danny spiwak Associate
(424) 325-2645
danny.spiwak@jamescapitaladvisors.com CA RE Lic. 02031346
mike hanassab Senior Director
(424) 325-2642
mike.hanassab@jamescapitaladvisors.com CA RE Lic. 01484891
elliot hassan Senior Director
(424) 325-2643
elliot.hassan@jamescapitaladvisors.com CA RE Lic. 01481211
James Capital Advisors, Inc.
www.jamescapitaladvisors.com
@jamescapitaladvisors