MARKETING PACKAGE
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
9501 NATIONAL BLVD
MARKETING PACKAGE TABLE OF CONTENTS 01
Property Overview
02 Financial Analysis 03 Comparables 04 Location Overview CONTACT INFORMATION
JOSEPH LIEBERMAN Associate (323) 792-8489
mike hanassab Senior Director (424) 325/2642
elliot hassAn Senior Director (424) 325-2643
02
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
SECTION ONE
PROPERTY OVERVIEW
03
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
PROPERTY OVERVIEW
DETAILS
Street Address City State Zip Code APN Rentable Square Feet Lot Size Year Built
04
9501 National Blvd Los Angeles CA 90034 4311-013-016 4,461 SF 4,099 SF 1971
Number of Units
4
Parking
4 Parking Spaces
Number of Buildings
1
Zoning
R3
Number of Stories
2
Unit Mix
Water
Master-Metered
Electric
Individually Metered
Gas
Individually Metered
Construction
Wood-frame Stucco
Roof
(1) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (2) 2 Bed / 1.5 Bath
Flat
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
PROPERTY OVERVIEW
HIGHLIGHTS
Culver City 9501 National Boulevard is located North East of one of the largest employment hubs in Culver City. The property sits less then two miles from the heart of Culver City which has seen unprecedented rent growth within the last 5 years. Much of this is due to companies like Nike, Netflix, Hbo, and Google leasing out enormous amounts of commercial office space. 9501 National Boulevard is perfectly situated to cater to the needs of those employees and provides an easy commute for renters. Accessibility The property is located just North of the 10 Freeway and 1 mile Northeast from Culver City. This enables renters to have easy commutes to LA’s hottest Job and entertainment hubs. Value-Add 9501 National Boulevard has strong in place rents. There is still about 24% rental upside remaining. No soft-story retrofit The property does not require any soft-story retrofit. Free and Clear The property is being offered free and clear of any debt. This enables an investor to take advantage of historically low interest rates.
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
SECTION TWO
FINANCIAL ANALYSIS
06
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
FINANCIAL ANALYSIS
PRICING ANALYSIS
$1,600,000 Price Price per Unit Price per Square Foot
CURRENT
PRO FORMA
3.99%
5.27%
16.79
13.75
Gross Income
$93,022
$113,508
Expenses
$29,204
$29,204
NOI
$63,818
$84,304
CAP Rate GRM $1,600,000 $400,000 $358.66
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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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
FINANCIAL ANALYSIS
INCOME AND EXPENSE ANNUAL
INCOME
CURRENT
PRO FORMA
Base Rental Income
$95,280
Additional Income
ANNUAL
EXPENSE
CURRENT
PRO FORMA
$116,400
Taxes
$18,720
$18,720
$600
$600
Insurance
$1,784
$1,784
Gross Potential Income
$95,880
$117,000
Utilities
$3,600
$3,600
Vacancy Allowance
$2,858
Repairs & Maintenance
$2,000
$2,000
Effective Gross Income
$93,022
Gardener
$600
$600
Operating Expenses
$29,204
Trash
$2,500
$2,500
Net Operating Income
$63,818
Operating Expenses
$29,204
$29,204
08
(3%)
$3,492
(5%)
$113,508 (31%)
$29,204 $84,304
(26%)
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
FINANCIAL ANALYSIS
RENT SCHEDULE
PRO FORMA
UNIT TYPE
SQ. FOOTAGE
RENT
RENT PER SF
101
1 Bed / 1 Bath
750 SF
$1,650
$2.20
$2,050
$2.73
102
2 Bed / 1 Bath
1,000 SF
$2,317
$2.32
$2,450
$2.45
103
2 Bed / 1.5 Bath
1,100 SF
$1,722
$1.57
$2,600
$2.36
104
2 Bed / 1.5 Bath
1,100 SF
$2,251
$2.05
$2,600
$2.36
3,950 SF
$7,940
TOTAL
RENT
PRO FORMA
UNIT #
RENT PER SF
$9,700
* Sq. Ft. of All Units are Estimated.
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
SECTION THREE
COMPARABLES
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
COMPARABLES
SALES COMPARABLES #
ADDRESS
SALE PRICE
# OF UNITS
CAP RATE
GRM
PRICE / UNIT
PRICE / SF
01
10743 Palms Blvd, Los Angeles, CA 90034
$1,869,000
4
4.00%
16.86
$467,250
$465.85
02
9506 National Blvd, Los Angeles, CA 90034
$1,250,000
3
-
-
$416,667
$723.38
03
10721 Francis Pl, Los Angeles, CA 90034
$1,700,000
4
4.40%
20.24
$425,000
$612.39
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
COMPARABLES
SALES COMPARABLES
01
02
Sale
Subject
Sale
9501 National BLVD
10734 Palms Blvd
9506 National Blvd
Los Angeles, CA 90034
Los Angeles, CA 90034
Los Angeles, CA 90034
Close of Escrow
-
Close of Escrow
6/7/2019
Close of Escrow
9/27/2019
List Price
$1,600,000
List Price
$1,869,000
List Price
$1,250,000
CAP Rate
3.99%
CAP Rate
4.00%
CAP Rate
-
GRM
-
Number of Units
3
GRM Number of Units Year Built
16.79 4 1971
GRM Number of Units Year Built
16.86 4 1962
Year Built
1940
Rentable Square Feet
4,461 SF
Rentable Square Feet
4,012 SF
Rentable Square Feet
1,728 SF
Price per Square Foot
$358.66
Price per Square Foot
$465.85
Price per Square Foot
$723.38
Price per Unit Unit Mix
12
$400,000 (1) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath (2) 2 Bed / 1.5 Bath
Price per Unit Unit Mix
$467,250 Unit Mix Not Available
Price per Unit Unit Mix
$416,667
(3) 1 Bed / 1 Bath *Property was delivered vacant.
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
COMPARABLES
SALES COMPARABLES
03
Sale
10721 Francis Pl Los Angeles, CA 90034
Close of Escrow
5/28/2019
List Price
$1,700,000
CAP Rate
4.40%
GRM
20.24
Number of Units Year Built
4 1953
Rentable Square Feet
2,776 SF
Price per Square Foot
$612.39
Price per Unit Unit Mix
13
$425,000 (3) 1 Bed / 1 Bath (1) 2 Bed / 1 Bath
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
SECTION FOUR
LOCATION OVERVIEW
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
CULVER CITY
Culver City Culver City is a five-square-mile, urban community of 39,000 residents surrounded by the City of Los Angeles is and centrally located on the Westside near Santa Monica, Beverly Hills, and Los Angeles International Airport. Culver City is particularly known for its well-run public school system, “small town”charm, growing high-tech and creative economies, and a dynamic downtown that is regionally known as a destination for restaurants, live theatre, and art galleries. Culver City, soaked in moviemaking history, features a buzzing dining and nightlife scene, which includes globally inspired eateries, gastropubs and cozy cocktail bars. Occupying the MGM lot, which dates back to 1924, Sony Pictures Studios offers behind-the-scenes tours of its legendary soundstages. Other cultural highlights include spare but sophisticated art galleries, playhouses and the storied Culver Hotel. Outside of the studios, Culver City is mostly comprised of middle class homes that were originally built to house studio workers, with street names reflecting this heritage, such as (Mary) Pickford and (Douglas) Fairbanks. The downtown area has been undergoing a rejuvenation since the late 1990s with new restaurants, art galleries, theaters and shops that attract a large number of visitors from the local area. Culver City is a must visit if you want the full Los Angeles experience.
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
PALMS
Palms Palms is located on the Westside of Los Angeles, south of Beverly Hills, Rancho Park, and Beverlywood and just north of Culver City. Small in size it covers only a two-square mile area marked by signs on Venice, Robertson, and Palms boulevards. With 45,475 people in that small plot of land, it is currently one of the most densely populated areas in Los Angeles County. A community with well-established roots in California history, Palms has become a good location for ambitious post grads and young families looking to make their home in Los Angeles. Palms provides a central hub for residents — closely located to the growing cultural center of Culver City, near freeways for commuters, and only five miles from the bustling UCLA campus. Palms was recently declared the best neighborhood in Los Angeles for Millennials and with good reason; while ethnically diverse, nearly half of the population falls within the 19-35 age range and a high proportion identifies as single or never married. The population is educated, with about 45% of residents in possession of at least a four year degree, while many residents have masters degrees or higher. Looking for a vibrant place to call home? Look no further than Palms. Residents love this LA community for its lively dining and entertainment scene, walkable neighborhoods, and relatively affordable housing options.
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
AERIAL
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
AERIAL
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
Accessibility
West Hollywood
Downtown Los Angeles
Inglewood
West Hollywood is at the cultural and geographical heart of the Los Angeles region. Located less than 6 miles away from the subject property, it is only a short 15 minute drive. If you want to experience Southern California, booking a hotel in walkable West Hollywood will give you convenient access to everything and situate you in one of the hottest hubs of L.A. The City of West Hollywood is filled with rich history. People from all over the globe visit West Hollywood for its iconic destinations such as The Sunset Strip for its unparalleled historical connection to music, entertainment, architecture, fashion, and culture-making.
Downtown Los Angeles (DTLA) is the central business district of Los Angeles, California. Located less than 10 miles away from the subject property, it is only a short 20 minute drive. DTLA is home to smaller areas such as Chinatown, Little Tokyo and the Arts District, & offers renowned art museums, cutting-edge restaurants & hip bars. It is home of the Staples center where the Lakers, the Clippers and the Kings play every season. It is also the home of the Los Angeles Convention Center where special events take place quarterly.
As a gateway to major commercial centers of the United States and internationally, Inglewood is in a unique position on the shore of the Pacific Rim. Located less than 7 miles away from the subject property, it is only a short 15 minute drive. Some of the more notable high traffic areas near Inglewood include the Forum, LAX and the soon to be completed SoFi Stadium. Inglewood is approximately 20 minutes southwest of Los Angeles, 20 minutes northeast of Redondo Beach and 15 minutes from the Pacific Ocean and is part of the Los Angeles metropolitan area.
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
WALKABILITY 1.
ArcLight Cinemas 9500 Culver Blvd, Culver City, CA 90232 1 MILE AWAY FROM SUBJECT PROPERTY
2. The Museum of Jurassic Technology 9341 Venice Blvd, Culver City, CA 90232 0.6 MILES FROM SUBJECT PROPERTY
3. Hamilton High School 2955 S. Robertson Blvd, Los Angeles, CA 90034 0.6 MILES FROM SUBJECT PROPERTY
4. Trader Joe’s 9290 Culver Blvd, Culver City, CA 90232 0.7 MILES FROM SUBJECT PROPERTY
5. Vons 9860 National Blvd, Los Angeles, CA 90034 0.4 MILES FROM SUBJECT PROPERTY
6. Sprouts Farmer Market 8985 Venice Blvd Ste B, Los Angeles, CA 90034 0.5 MILES FROM SUBJECT PROPERTY
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
WALKABILITY
01 ARCLIGHT CINEMAS
Arclight Cinemas is a top-notch experience for movie goers.
02 THE MUSEUM OF JURASSIC TECHNOLOGY
This educational museum is dedicated to the lower jurrasic.
04 TRADER JOE’S
This grocery store chain has more than 503+ stores in 42 states.
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03 HAMILTON HIGH SCHOOL
This public school was established in 1931 with over 2,500+ students.
05 VONS
This grocery store was founded 114 years ago with over 325+ locations.
06 SPROUTS FARMER MARKET
Founded 18 year ago, this grocery chain has over 340+ stores
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
POINTS OF INTEREST 1.
UCLA 410 Charles E. Young Drive West, Los Angeles, CA 90024 6.2 MILES FROM SUBJECT PROPERTY
2. Venice Beach Venice Fishing Pier, Venice, CA 90292 5.9 MILES FROM SUBJECT PROPERTY
3. The Grove 189 The Grove Dr, Los Angeles, CA 90036 4.7 MILES FROM SUBJECT PROPERTY
4. The Getty 1200 Getty Center Dr, Los Angeles, CA 90049 7.7 MILES FROM SUBJECT PROPERTY
5. SoFi Stadium 1000 S. Prairie Ave, Inglewood, CA 90301 11 MILES FROM SUBJECT PROPERTY
6. LAX 1 World Way, Los Angeles, CA 90045 8.4 MILES FROM SUBJECT PROPERTY
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
POINTS OF INTEREST
01 UCLA
The top rated university has 45,000+ annually enrolled stdents.
02 VENICE BEACH
This beach has a boardwalk, Street performers & colorful murals.
04 THE GETTY
This world famous museum has art from all across the world.
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03 THE GROVE
The grove is a multi-purpose retail and entertainment complex.
05 SOFI STADIUM
This multi-purpose will be able to seat up to 100,000 visitors.
06 LAX
LAX is the primary international airport for los angeles.
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
MAJOR EMPLOYErs 1.
Google 10800 W. Pico Blvd, Los Angeles, CA 90064 2.2 MILES FROM SUBJECT PROPERTY
2. Amazon Studios Amazon Studios, Culver City, CA 90232 1.2 MILES FROM SUBJECT PROPERTY
3. Apple 8777 Washington Blvd, Culver City, CA 90232 0.9 MILES FROM SUBJECT PROPERTY
4. Sony Pictures Entertainment 10202 Washington Blvd, Culver City, CA 90232 1.3 MILES FROM SUBJECT PROPERTY
5. NFL Network 10950 Washington Blvd, Culver City, CA 90232 1.9 MILES FROM SUBJECT PROPERTY
6. Southern California Hospital 3828 Delmas Terrace, Culver City, CA 90232 0.8 MILES FROM SUBJECT PROPERTY
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
MAJOR EMPLOYERS
01 GOOGLE
This new development will create 585,000 sq. ft. for google offices.
02 AMAZON STUDIOS
Amazon has leased 530,000 sq. ft. scheduled for completion in 2021.
04 SONY ENTERTAINMENT PICTURES
A behind-the-scenes look at the movie industry, with exhibits & more.
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03 APPLE
Apple has staked a claim for 128,000 sq. ft. near the Expo Line Station.
05 NFL NETWORK
NFL Network is an American sportsoriented pay television network.
06 SOUTHERN CALIFORNIA HOSPITAL
This care hospital in Culver City employes more than 1,167 people.
9501 NATIONAL BLVD, LOS ANGELES, CA 90034
LOCATION OVERVIEW
DEMOGRAPHICS
POPULATION
1-Mile
3-Mile
5-Mile
2025 Projection
43,994
318,282
861,213
2020 Estimate
43,789
317,342
856,541
2010 Census
41,725
305,351
812,518
Growth ‘20 - ‘25
0.47%
0.30%
0.55%
Growth ‘10 - ‘20
4.95%
3.93%
5.42%
1-Mile
3-Mile
5-Mile
2025 Projection
19,840
135,180
370,734
2020 Estimate
19,786
135,019
369,380
2010 Census
19,071
131,269
354,167
Growth ‘20 - ‘25
0.27%
0.12%
0.37%
Growth ‘10 - ‘20
3.75%
2.86%
4.30%
Average Income
$107,131
$112,590
$112,725
Median Income
$80,793
$82,179
$81,990
HOUSEHOLDS
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9501 NATIONAL BLVD, LOS ANGELES, CA 90034
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
JOSEPH LIEBERMAN Associate
(323) 792-8489
joseph.lieberman@jamescapitaladvisors.com CA RE Lic. 2074974
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