6908 Knowlton Place, Westchester - Dario Svidler
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Transcript of 6908 Knowlton Place, Westchester - Dario Svidler
Brand New Construction 18 Spacious Homes Currently Being Rented Out
6908 KNOWLTON PLACE, WESTCHESTER LOS ANGELES, CA 90045$11,000,000
TABLE OF CONTENTS
04 The Offering
05 Rent Roll
06 Cash Flow
08 Property Photos
15 Floor Plans
16 Site Plan
17 Area Developments
18 Area Map
19 Maps
20 Westchester
21 Walkscore
22 Metro Light Rail
23 Silicon Beach
25 About Agents
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 3Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
PROPERTY OVERVIEW
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 4Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
THE OFFERING
Compass Commercial is proud to present a Brand New 18 Unit Apartment Building for sale. With construction just wrapped up, this delicately designed building is beginning to fill up with tenants.
Very well located and appointed, this building comes with NO RENT CONTROL, an average apartment square footage of 1,267 SF, two parking spaces per home, long and short term bicycle parking, community rooms, roof-top common areas with seating and grills, and much more.
Just over a mile from the under-construction Crenshaw Metro Light Rail stop and near LAX, this location is perfect for local and world commuters.
Surrounded by shopping, dining and entertainment, and a short ride to the under-construction City of Champions (the new home of the LA Rams), this location is highly sough-after and commands commensurate rents.
Price Lot Size
Average Unit SF
Number of Units
Apartments Total SF
APN
$11,000,000 13,800 SF
1,267
18
22,785
4103-013-104
Units Breakdown
PROPERTY DESCRIPTIONAT A GLANCE
Central to Everything
Brand New Construction
All Homes Come With:
- Balcony
- Washer & Dryer in Unit
- Large Windows
- High Ceilings
- Spacious kitchens with Stainless Steel Appliances
- Stove/Oven, Microwave Hood, Refrigerator, Dishwasher
- 2 Parking Spaces
Building Comes With:
- Secured Parking
- Community Room
- Center Courtyard
- Rooftop Deck with sitting areas and BBQs
- Bicycle Parking - short and long term
- Gym
12 3 Bedrooms + 2.5 Bathrooms
6 2 Bedrooms + 2.5 Bathrooms
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 5Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
POTENTIAL RENT ROLL
Average 2+2.5 1,139 $2,863
Average 3+2.5 1,329 $3,535
Average Rent PSF $2.61
Unit Mix Sq Ft Rent Rent/ Sq Ft Status
101 3+2.5 1,264 $3,425 $2.71 Vacant
102* 2+2.5 1,139 $2,000 $1.76 Rented
103 3+2.5 1,315 $3,450 $2.62 Vacant
104 3+2.5 1,315 $3,450 $2.62 Vacant
105 2+2.5 1,139 $2,975 $2.61 Vacant
106 3+2.5 1,437 $3,550 $2.47 Rented
201 3+2.5 1,264 $3,475 $2.75 Vacant
202 2+2.5 1,139 $3,000 $2.63 Vacant
203 3+2.5 1,315 $3,500 $2.66 Vacant
204 3+2.5 1,315 $3,500 $2.66 Vacant
205 2+2.5 1,139 $3,000 $2.63 Vacant
206 3+2.5 1,416 $3,600 $2.54 Rented
301 3+2.5 1,264 $3,625 $2.87 Vacant
302 2+2.5 1,139 $3,100 $2.72 Rented
303 3+2.5 1,315 $3,600 $2.74 Rented
304 3+2.5 1,315 $3,500 $2.66 Rented
305 2+2.5 1,139 $3,100 $2.72 Rented
306 3+2.5 1,416 $3,750 $2.65 Vacant
$59,600 39% Occupied
$715,200
*On-Site Manager apartment.
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 6Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
CASH FLOW
Unit Mix Average SF
6 2+2.5 1,139
12 3+2.5 1,329
18 Total Livable SF 22,785
Average Rents PSF
Monthly Totals
$2,863 $2.51 $17,175
$3,535 $2.66 $42,425
Avg Rent PSF $2.59
Monthly Totals $59,600
Yearly Gross $715,200
Vacancy 3% $21,456
Effective Gross $693,744
OpEx 31% $215,201
NOI $478,543
Mortgage Payment -$327,790
Cash Flow $150,752
GRM 15.38
CAP 4.35%
Cash on Cash 2.74%
Taxes $131,560
Insurance $10,253
Utilities $7,560 $35/unit/month
Repairs and Maintenance $5,400 $25/unit/month
Trash/Pest/Gardner $4,320 $20/unit/month
On Site Mgr $24,000 $15/hour (20 hour max / week)
Off Site Mgr $28,608 4%
Elevator $3,500
Total $215,201
Mortgage
Value $11,000,000 $483
Down Payment $5,500,000 50%
Loan Amount $5,500,000 1.44 DCR
Rate 4.25%
Amortization 30
Yearly Payment $327,790
Potential Expenses Units
Average Rents
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 7Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
PROPERTY PHOTOS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 8Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
COMMON AREAS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 9Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
INSIDE UNITS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 10Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
INSIDE UNITS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 11Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
OUTSIDE / AERIALS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 12Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
AERIAL PHOTOS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 13Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
AERIAL PHOTOS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 14Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
AERIAL PHOTOS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 15Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
FLOOR PLANS
Unit A-1 • 1,416 sq. ft.3 bed / 2 bath / Powder Room
Unit A-2 • 1,437 sq. ft.3 bed / 2 bath / Powder Room
Unit A • 1,264 sq. ft.3 bed / 2 bath / Powder
Unit B • 1,315 sq. ft.3 bed / 2 bath / Powder Room
Unit C • 1,139 sq. ft.2 bed / 2 bath / Powder Room
Bedroom 3
Bedroom 1
Bedroom 1
Bath 1
Bath 1
PowderRoom
PowderRoom
WalkIn
Closet
Walk InCloset
Bath 2
Bath 2
W/D
W/D
W/D
W/D
W/D
Bedroom 2
Bedroom 2
Bedroom 3
Kitchen
Kitchen
Balcony
Balcony
Living / Dining
Living / Dining
Vestibule
Bedroom 3
Bedroom 3
Bedroom 1
Bedroom 1
Bedroom 1
Bath 1
Bath 1
Bath 1
PowderRoom
PowderRoom
PowderRoom
Walk InCloset
Walk InCloset
Walk InCloset
Bath 2
Bath 2
Bath 2
Bedroom 2
Bedroom 2
Bedroom 2
Kitchen
Kitchen
Kitchen
BalconyBalcony
Balcony
Living / Dining
Living / Dining
Living / Dining
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 16Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
SITE PLAN
Seco
nd F
loor
201Unit A
202Unit C
206Unit A1
204Unit B
203Unit B
205Unit C
Thi
rd F
loor
301Unit A
302Unit C
306Unit A1
304Unit B
303Unit B
305Unit C
Firs
t Fl
oor
Courtyard
101Unit A
102Unit C
106Unit A2
104Unit B
103Unit B
105Unit C
Unit B
Units A, A1, A2
Unit C
Trash Room
Elevator
Bicycle Storage
Exercise Room
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 17Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
AREA DEVELOPMENTS
Other New Construction Projects at the Cul-de-Sac
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 18Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
AREA MAP
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 19Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
MAPS
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 20Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
AREA/MARKET OVERVIEW
Surrounded by bluffs, the ocean, the 405 Freeway and LAX, Westchester started out as a windswept plain in a remote corner of the Los Angeles basin. It is now the home of the Los Angeles International Airport, Loyola Marymount University, Otis College of Art and Design, and along with industry and a part of the extended neighborhood of Silicon Beach. A suburban oasis: The gently curving streets, tidy homes and well-manicured lawns of Westchester create a small-town feel just a mile or so from busy LAX. Techie utopia: Proximity to tech hubs in Venice, Playa Vista, Culver City and El Segundo make Westchester an appealing housing destination for technology workers.
Westchester
Central to all of Los Angeles and the World by way of LAX!
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 21Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
WALKSCORE
*
To change with the coming Metro Crenshaw Line!*
6908 Knowlton Place Westchester, Los Angeles, 90045
https://www.walkscore.com/score/6908-knowlton-pl-los-angeles-ca-90045
About this Location 6908 Knowlton Place has a Walk Score of 82 out of 100. This location is Very Walkable so most errands can be accomplished on foot.
This location is in the Westchester-Playa Del Rey neighborhood in Los Angeles. Nearby parks include Rogers Park, Ladera Park and Fox Hills Park.
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 22Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
METRO CRENSHAW LIGHT RAIL
METRO CRENSHAW LIGHT RAIL
The Crenshaw/LAX Transit Project will serve the Crenshaw District, Inglewood, Westchester and surrounding area with eight stations, at:
1. Expo/Crenshaw2. Martin Luther King Jr.3. Leimert Park4. Hyde Park5. Fairview Heights6. Downtown Inglewood7. Westchester/Veterans
Florence Ave. & Hindry Ave.Intersection around 1.1 Miles from 6908 Knowlton Place
8. Aviation/Century
LAX Automated People Mover linking the Crenshaw MetroLine to LAX pictured at right.
The Metro Crenshaw/LAX Line will extend from the existing Metro Exposition Line at Crenshaw and Exposition Boulevards. The Line will travel 8.5 miles to the Metro Green Line and will serve the cities of Los Angeles, Inglewood and El Segundo; and portions of unincorporated Los Angeles County. The new Metro Rail extension will offer an alternative transportation option to congested roadways and provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. Riders will be able to make easy connections within the entire Metro Rail system, municipal bus lines and other regional transportation services.
In addition to the alternative transportation option to congested roadways, the project will also provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County.
The Crenshaw/LAX Project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by Los Angeles County voters in 2008.
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Farmdale
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Culver City
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La Cienega/Jefferson
Harbor Fwy
Vermont/Athens
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El Segundo
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Crenshaw
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MID-CITY
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CHEVIOTHILLS
CENTURYCITY
PALMS
ATHENS
LAX
MORNINGSIDEPARK
HYDEPARK
LEIMERTPARK
WESTCHESTER
WESTADAMS
KOREATOWN
WILSHIRE CENTER
LENNOX
INGLEWOOD
EL SEGUNDO
HAWTHORNE
LOS ANGELES
GARDENA
CULVER CITY
Existing Metro Rail & Station
Metro Silver Line & Station
Purple Line Extension (under construction)
Purple Line Extension(approved alignment)
Exposition Transit Corridor Phase 2 (under construction)
Harbor Subdivision
Light Rail (LRT) Alignment & Station
At-Grade LRT
Below Grade LRT
Aerial LRT
Maintenance Yard Site
Parking
Subject to Change 14-0207 ©2013 LACMTA
Crenshaw/LAX Transit Corridor(under construction)
16-0208 ©2015 LACMTA
Crenshaw/LAX Transit Project
6908 Knowlton Place
HIG
HLA
ND
3RD
TEMPLE
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RO
SSM
OR
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NO
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VER
MO
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SUNSET
BARRINGTON
EXPOSITION
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MARTIN LUTHER KING JR BL
CADILLAC
WES
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RED
ON
DO
HAU
SER
SANTA MONICA FWY
OLYMPIC
OLYMPIC
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ADAMS
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HO
OVE
R
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TON
RO
BER
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FAIR
FAX
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WILSHIRE
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VENICE
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MA
IN
STOCKER 48TH
FAIRVIEW
STOCKER
54TH
60TH
60TH 60TH
GAGE
HYDE PARK
SLAUSON
SOUTHWEST
LEIMERT
FAIRVIEW
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BEACH
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10
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110
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LeimertPark
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Westchester/Veterans
Aviation/Century
Expo/La Brea
Farmdale
Expo/Crenshaw
Expo/Western
Culver City
Expo Park/USC
Jefferson/USC
23rd St
Expo/Vermont
La Cienega/Jefferson
Harbor Fwy
Vermont/Athens
Douglas
El Segundo
Mariposa
Aviation/LAX
Hawthorne/Lennox
Crenshaw
Wilshire/Western
Wilshire/Normandie
Westlake/MacArthur
Park
Vermont/Beverly
Wilshire/Vermont
Slauson
37th St/USC
Manchester
105
405
405
105
PARKLA BREA
MID-CITY
LADERAHEIGHTS
BALDWINHILLS
WEST HOLLYWOOD
HANCOCKPARK
BEVERLYHILLS
CHEVIOTHILLS
CENTURYCITY
PALMS
ATHENS
LAX
MORNINGSIDEPARK
HYDEPARK
LEIMERTPARK
WESTCHESTER
WESTADAMS
KOREATOWN
WILSHIRE CENTER
LENNOX
INGLEWOOD
EL SEGUNDO
HAWTHORNE
LOS ANGELES
GARDENA
CULVER CITY
Existing Metro Rail & Station
Metro Silver Line & Station
Purple Line Extension (under construction)
Purple Line Extension(approved alignment)
Exposition Transit Corridor Phase 2 (under construction)
Harbor Subdivision
Light Rail (LRT) Alignment & Station
At-Grade LRT
Below Grade LRT
Aerial LRT
Maintenance Yard Site
Parking
Subject to Change 14-0207 ©2013 LACMTA
Crenshaw/LAX Transit Corridor(under construction)
16-0208 ©2015 LACMTA
Crenshaw/LAX Transit Project
6908 Knowlton Place
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 23Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
AREA/MARKET OVERVIEW
Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to over 500 tech startup companies. Major technology companies have opened offices in the region including Google, Yahoo!, YouTube, BuzzFeed, Facebook, Salesforce, 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.
Silicon Beach is also home to a number of start-up incubators and accelerators, such as Amplify.LA, Science, Disney Accelerator, and TechStars Cedars Sinai. Higher education institutions headquartered in Silicon Beach include Loyola Marymount University and Otis College of Art and Design. Other higher education institutions in the nearby Southern California region or with satellite campuses in/nearby Silicon Beach include:California Institute of Technology, University of California Los Angeles, University of Southern California. The RAND Corpration is headquartered in Santa Monica. In the first six months of 2013, start-ups in Silicon Beach raised over $500 million in funding, and there were 94 new start-ups and nine acquisitions.
This has had major impacts on the type and availability of office space and on home prices in Playa Vista, Playa Del Rey, Westchester, Santa Monica, and Venice, as these areas have become more desirable due to this influx. The effects are also spilling over into Marina del Rey, and Hermosa Beach and continues to attract tech firms, venture capital, and startups.
SILICON BEACH
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 24Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
ABOUT AGENTS
COMPASS COMMERCIAL | LOS ANGELES 25
About Agent
Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
Dario SvidlerEVP, Regional Director
O 424. 324. 6304C 818. 653. [email protected] 01884474
Dario Svidler grew up with Real Estate all around him. Dario’s father, a Structural Engineer and practicing General Contractor, and his mother, an Architect, would take Dario to their job-sites all throughout his childhood.
With experience in all facets of the Construction and Real Estate Businesses, ranging from Commercial and Industrial to all types of Residential, Dario has sold in excess of $300 million in Real Estate and is well on his way to doubling that number.
Dario’s talent for finding Value-Add Properties has made him an indispensable asset to a select group of Clients and Investors looking to add higher-yielding properties to their portfolios.
Dario is a member of the Real Estate and Construction Division of the Jewish Federation and an alumnus of the American Jewish University.
COMPASS COMMERCIAL | LOS ANGELES 26
About Agent
Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
Lee MintzRealtor ®
O 424. 324. 6304C 310. 902. [email protected] 01355531
As a lifelong Los Angeles resident I have a deep connection to this city and a profound understanding of the real estate opportunities here, which I share with my extensive client base. I have over 18 years of real estate experience and I specialize in the buying, selling, and syndicating of multi-family units as well as the buying and selling of luxury homes.
I began my real estate career at Horizon Realty where I was a top-producing agent and rookie of the year. Because of my background in sports and entertainment, I have been honored to represent both celebrities and professional athletes in their real estate dealings. I have helped many members of our local NBA teams find housing and I also assist them with the purchase and ownership of multi-family properties for their long-term investments. My knowledge of both luxury real estate and the ins and outs of real estate investments make me a highly valuable resource for my clients.
6908 Knowlton Place.
COMPASS COMMERCIAL | LOS ANGELES 27Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
COMPASS COMMERCIAL
COMPASS COMMERCIAL | LOS ANGELES 28Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
At Compass Commercial, our focus is to provide clients with comprehensive and superior, trustworthy services. This full spectrum of value-added services, from market research to ongoing advisory services, is offered to all commercial property types including multi-family, office, retail, industrial, land and development investments. Our services go much further than purchasing or selling an asset. Working with clients, we identify their real estate investment goals and work side by side to build a strategic real estate investment plan.
About Compass Commercial
Commercial Investment Services
The following outlines the distinctive platform of transaction and consultative services we offer our clients:
Acquisitions-Commercial Properties
We specialize in identifying underperforming investment opportunities. We provide accurate and reliable evaluation of an asset’s performance relative to other real estate and non-real estate investment alternatives. Using our financial analysis, investment alternatives are scrutinized for projected cash flow, residual values at risk.
Dispositions-Commercial Properties
Maximizing an asset’s value by developing individualized marketing plans is our area of expertise.
Commercial Leasing Services We specialize in office, retail, and creative space.
Advisory Services
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COMPASS COMMERCIAL | LOS ANGELES 29Dario Svidler | Lee Mintz | 6908 Knowlton Offering Memorandum
CONFIDENTIALITY AND DISCLAIMER
The information contained in the offering is confidential, furnished solely for the purpose of review by a prospective purchaser of the subject property. The material is based in part upon information supplied and in part upon information obtained by Compass Commercial from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by the owner, Compass Commercial, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communications. Without limiting the generality of the foregoing, the information shall not be deemed a representation of the state of affairs of the subject property or constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of the information. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.
The Offering Memorandum was prepared by Compass Commercial. It contains select information pertaining to the subject property and does not purport to be all inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the subject property will be made available to qualified prospective purchasers.
In the Offering certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.
The Offering is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Compass Commercial or the owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the subject property described herein.
The owner and Compass Commercial expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offer to purchase the subject property and/or to terminate discussions with any party at any time with or without notice. The owner shall have no legal commitment or obligation to any interested party reviewing the Offering or making an offer to purchase the subject property unless a written agreement for the purchase of the subject property has been fully executed and delivered by the owner and such party and any conditions to the owner’s obligations there under have been satisfied or waived and then only to the extent expressly provided for therein. Compass Commercial is not authorized to make any representations or agreements on behalf of the owner.
For more information please contact our exclusive sales agents:
Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
DARIO SVIDLEREVP, Regional Director
O 424. 324. 6304C 818. 653. [email protected] DRE 01884474
LEE MINTZRealtor ®
O 424. 324. 6304C 310. 902. 8301
[email protected] 01355531