BOV Landscape Template

BROKER OPINION OF VALUE

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In one of the most stunning David and Goliath stories in real

Keller Williams is a leader in global real estate. We offer

estate history, Keller Williams has surged past industry giants

comprehensive services to investors, property owners, tenants,

like RE/MAX, Coldwell Banker, and Berkshire Hathaway

and developers around the world. We have an established

HomeServices to become the number one real estate franchise

network and a proven model that sets the framework for

in agent count, closed units, and closed sales volume in the

profitability in markets across the globe. We know that the

United States*. In 2017, the company’s 155,000 U.S. agents

strongest enterprises are driven by top talent, and our growth

closed more than 1 million units, generating more than $300

strategy is completely centered on getting in business with the

billion in sales revenue.

very best people in the real estate industry across the globe.

5 CONTINENTS

36 REGIONS

LARGEST

INDEPENDENT REAL ESTATE FRANCHISE IN THE WORLD

1,000+

195+ LOCATIONS

NUMBER ONE

IN UNITS & SALES VOLUME IN THE UNITED STATES

180,000

OFFICES IN THE US AND CANADA & 5 CONTINENTS

REAL ESTATE PROFESSIONALS IN THE KW NETWORK

EXCELLENCE

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CONFIDENTIALITY AGREEMENT All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS INVESTIGATION AND DUE DILIGENCE.

OWN

INDEPENDENT

Any party contemplating a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party.

FOR MORE INFORMATION, PLEASE CONTACT: Shaya Lowenstein 323.944.2221 info@shayarealestate.com CA DRE #01942326

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KW Commercial 118 N Larchmont Blvd Los Angeles, CA 90004

All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/ or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed transaction.

Legal questions should be discussed by the party with an attorney.

Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies.

DISCLAIMER Each Office is Independently Owned and Operated. Broker and Broker’s Agents do not represent or guarantee accuracy of square footage, lot size, condition, features. It is the Buyer’s sole responsibility to perform investigations and satisfy themselves.

PROPERTY

SUMMARY ±6,000 SF Lot Zoned PREMISES

R2-HPOZ ZONING

5074-025-027 APN

Just South of Venice Blvd, West of Vermont LOCATION

This is a Multifamily Apartment building with four (4) oversized units USE

Property has 4 large 1 bedroom apartments, with a potential to build a 2 bedroom ADU on Property IMPROVEMENTS

EXECUTIVE

SUMMARY PROPERTY SUMMARY 1722 S Ardmore Ave. is a meticulously preserved California Craftsman located in Historic Harvard Heights. Listed at $949,000, this gated

property features 4 large 1 bedroom units on a quiet street. 2 of the units will be delivered vacant, offering immediate upside, while the other 2 will be delivered with tenants in place. The Property has recently undergone upgrades including a partial remodel of 2 of the units and a complete exterior paint job. The Large backyard area offers a unique opportunity to build an ADU and achieve above market returns while adding significant value to the property (buyer to verify).

PROPERTY SUMMARY UNIT

SIZE

RENT

MARKET RENT

Unit 1

1 Bed, 1 Bath

$766

$1800

Unit 2

1 Bed, 1 Bath

$900

$1800

Unit 3

1 Bed, 1 Bath

Vacant

$1800

Unit 4

1 Bed, 1 Bath

Vacant

$1800

* Potential 2 Bedroom ADU: $2250

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EXPENSE

REPORT CURRENT

$11,875 ANNUAL PROPERTY TAX

$2,700 ANNUAL UTILITIES

$3,000 MAINTENANCE

$2,500 VACANCY NOI: $42,589 4.5% CAP RATE

WITH BUILDING ADU

$11,875 ANNUAL PROPERTY TAX

$3,000 ANNUAL UTILITIES

$3,500 MAINTENANCE

$3,000 VACANCY NOI: $68,289 6.2% CAP RATE

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10 MILES

5 MILES 3 MILES

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AMENITIES MAP Normandie Recreation Center

Dollar Tree Loyola High School

S. ARDMORE AVE.

Burger Factory

NORMANDIE AVE.

VENICE BLVD.

Angelus Rosedale Cemetery

Froman’s Chicago Deep Dish Pizza

W. WASHINGTON BLVD.

S.

LA

L SA

LE

AV

E.

LOCATION

OVERVIEW

Atlantic Ave

LOCATION:

PROPERTY SUMMARY TYPE

Storefront

GLA

4,200 SF

YEAR BUILT

1947

FLOORS

1

CONSTRUCTION

Wood Frame

LAND

0.10 AC

VACANCY

100%

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The Property is bordered by E 55th Street on the South, E 56th Street on the North, Atlantic Avenue on the West and Lime Avenue on the East.

ADDRESS:

5536 Atlantic Avenue Long Beach, CA 90805

SITE

PLAN

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HARBOR HEIGHTS

OVERVIEW

Harvard Heights is a densely populated, mixed-income neighborhood of 20,000+ people in Central Los Angeles, California. Within in it lies a municipally designated historic overlay zone designed to protect its architecturally significant single-family residences, including the only remaining Greene and Greene house in Los Angeles.

The neighborhood has one private and two public schools. It is the site of a private library dedicated to the memory of singer Ray Charles. In September 2010, the original site of singer Ray Charles’s recording studio and office on Washington Blvd (Historic Cultural Monument #776), was rededicated as the Ray Charles Memorial Library. The Library contains exhibit space including memorabilia, awards, and interactive music displays of the famous musician.

RAY CHARLES LIBRARY

Since 2000, the City of Los Angeles Planning Department and Office of Historic Resources has defined the Harvard Heights historic neighborhood as encompassing 34 blocks comprised predominantly of single-family residences, some multiple-family residences, as well as commercial properties. The designated historic zone lies between Olympic Boulevard on the north, Washington Boulevard to the south, Normandie Avenue on the east and Western Avenue on the west.

The Mapping L.A. project of the Los Angeles Times defines Harvard Heights as a broader area, flanked by Koreatown to the north, PicoUnion to the east, Adams-Normandie and Jefferson Park to the south and Arlington Heights to the west. The street boundaries are given as north: Olympic Boulevard; east: Normandie Avenue; south: Washington Boulevard; and west: Western Boulevard.

THOMAS EDWARD GIBBON HOUSE

Harvard Heights has been called a “preservationist’s dream come true,” a neighborhood characterized by the Craftsman houses built on the heights southwest of downtown, primarily between 1902 and 1910. Today, Harvard Heights boasts the only remaining Greene and Greene house (Historic Cultural Monument #991) in Los Angeles, as well as homes built by the Heinemann brothers (Historic Cultural Monument #818), Hunt and Eager, and speciality architect, Frank M. Tyler.

According to the Mapping L.A. project of the Los Angeles Times, the 2000 U.S. census counted 18,587 residents in the 0.79-square-mile neighborhood—an average of 23,473 people per square mile, one of the highest densities in Los Angeles.

FOR MORE INFORMATION, PLEASE CONTACT: Shaya Lowenstein 323.944.2221 info@shayarealestate.com CA DRE #01942326

KW Commercial 118 N Larchmont Blvd Los Angeles, CA 90004

© 2020 Keller Williams Commercial. Information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.