668 Rampart OM.pdf
668 S Rampart Blvd Los Angeles, CA 90057
Table of Contents 1
Property Overview
2
Comparables
3
Financial Analysis
4
Demographics & Trends
668 S Rampart Blvd Los Angeles, CA 90057
Property Overview
1
668 S Rampart Blvd Los Angeles, CA 90057
Property Overview Rosano Partners is pleased to offer a historic, 44 unit apartment building of 22,140 SF on the Korea Town/Westlake border along Wilshire Blvd. The property stands 5 floors tall, includes a laundry room, and the classic brick facade has a freshlypainted first floor exterior. Tenants have convenient access to Bus Stop 481, a half-block to the North and Metro Rapid Station 720, one half-mile East.
List Price
$3,595,000
Price/Unit
$81,705
Bldg Footage
22,140 SF
Submarket
Westlake MF
Price/SF
$162.38
Lot Footage
6,011 SF
2
668 S Rampart Blvd Los Angeles, CA 90057
Location Overview 668 S Rampart Blvd is situated just South of Wilshire Blvd, two blocks East of Hoover St. The property is a block South of La Fayette Park, just minutes from DTLA with convenient access to Hollywood and the 10 Fwy. The 1 mile population growth is 4.61% from 2013-14, a near 1.5% higher than the county of Los Angeles as a whole. Rent-to-own ratios favor apartment investors, with 96% of the 1 mi. population renting.
S
S
3
668 S Rampart Blvd Los Angeles, CA 90057
Location /Market Overview
S
Nearby Developments Summit On 6th
Jenji Kohen (“Weeds” & “Orange is the New Black”) Renovating Hayworth Theatre
411 Units – 43,800 SF Retail The Nest
S 96 Unit Luxury Condos
Mixed Use: Hotel/Apartment/Retail
Wilshire Coronado
154 Unit Luxury Condos, ~8,500 SF Retail
4
668 S Rampart Blvd Los Angeles, CA 90057
Additional Photos
5
668 S Rampart Blvd Los Angeles, CA 90057
Comparables
6
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparables - Overview 1
S 3
2
4 S. No
Address
Sale Price
Price/Unit
1
681 Shatto Pl
$3,150,000
$105,000
2
625 S Burlington Ave
$3,425,000
$71,354
3
2810 Leeward Ave
$2,650,000
$73,611
4
812 S Westlake Ave
$2,755,000
$68,875
Price/Unit $105,000 $71,354
681 Shatto Pl
625 S Burlington Ave
$73,611
$68,875
2810 Leeward Ave 812 S Westlake Ave
$79,710
Average
7
9
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 1 681 Shatto Pl
Notes
Los Angeles, CA 90005 Closing Date
07/22/2014
•Close to Subject
Building Footage
24,642 SF
•Sold as 5.0% Cap
Sale Price # of Units Year Built
$3,150,000
Price/SF
24 (0+1), 6 (1+1) Price/Unit 1923
Submarket
$127.83 $105,000 Koreatown MF
8
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 2 625 S Burlington Ave
Notes
Los Angeles, CA 90057 Closing Date
03/07/2014
•Inferior location to Subject
Building Footage
23,480 SF
•Poor visibility, Sloped street
Sale Price # of Units Year Built
$3,425,000
Price/SF
40 (0+1), 8 (1+1) Price/Unit 1928
Submarket
$145.87
•Sold as 5.96% Cap
$71,354 Westlake MF
9
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 3 2810 Leeward Ave
Notes
Los Angeles, CA 90005 Closing Date
10/29/2013
• Inferior location to Subject
Building Footage
19,776 SF
• Sold as 6.22% Cap
Sale Price # of Units Year Built
$2,650,000
Price/SF
30 (0+1), 6 (1+1) Price/Unit 1923
Submarket
$134.00 $73,611 Koreatown MF
10
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 4 812 S Westlake Ave
Notes
Los Angeles, CA 90057 Closing Date
09/17/2013
•Inferior location and physical
Building Footage
23,040 SF
condition than Subject
Sale Price # of Units Year Built
$2,755,000
Price/SF
32 (0+1), 8 (1+1) Price/Unit 1927
Submarket
$119.57
•Sold as 6.25% Real Cap
$68,875 Westlake MF
11
668 S Rampart Blvd Los Angeles, CA 90057
Financial Analysis
12
668 S Rampart Blvd Los Angeles, CA 90057
Financial Analysis
13
668 S Rampart Blvd Los Angeles, CA 90057
Rent Roll
14
668 S Rampart Blvd Los Angeles, CA 90057
Demographics & Trends
15
668 S Rampart Blvd Los Angeles, CA 90057
Demographic Report
16
668 S Rampart Blvd Los Angeles, CA 90057
Traffic Count
S
17
668 S Rampart Blvd Los Angeles, CA 90057
Demographic Comparison Report
18
668 S Rampart Blvd Los Angeles, CA 90057
Rosano Partners Commercial Real Estate, Redefined. At Rosano Partners we’re a diverse group of seasoned professionals redefining the commercial brokerage landscape. With our collaborative team environment and an advanced proprietary software system, RP is ushering in a new wave innovation for our clients. RP aims to offer the finest commercial property acquisition and disposition services. We offer a unique blend of experience and expertise that will help you maximize your returns, increase your wealth, solidify your financial security, reposition your real estate assets and manage your acquisitions
The Future of Investing No more country clubs deals—we’re making commercial real estate accessible to our current and future clientele. At Rosano Partners, we believe investing shouldn’t be confined to a specific sector or group. By connecting different ethnicities and respecting the diversity of the investment community, Rosano Partners seeks to redefine the commercial real estate industry. Transformation through Transactions.
19
668 S Rampart Blvd Los Angeles, CA 90057
Presented By:
700 S. Flower St. Suite 2920 Los Angeles, CA 90017 Tel: 213.802.0300 Rosanopartners.com
20
Table of Contents 1
Property Overview
2
Comparables
3
Financial Analysis
4
Demographics & Trends
668 S Rampart Blvd Los Angeles, CA 90057
Property Overview
1
668 S Rampart Blvd Los Angeles, CA 90057
Property Overview Rosano Partners is pleased to offer a historic, 44 unit apartment building of 22,140 SF on the Korea Town/Westlake border along Wilshire Blvd. The property stands 5 floors tall, includes a laundry room, and the classic brick facade has a freshlypainted first floor exterior. Tenants have convenient access to Bus Stop 481, a half-block to the North and Metro Rapid Station 720, one half-mile East.
List Price
$3,595,000
Price/Unit
$81,705
Bldg Footage
22,140 SF
Submarket
Westlake MF
Price/SF
$162.38
Lot Footage
6,011 SF
2
668 S Rampart Blvd Los Angeles, CA 90057
Location Overview 668 S Rampart Blvd is situated just South of Wilshire Blvd, two blocks East of Hoover St. The property is a block South of La Fayette Park, just minutes from DTLA with convenient access to Hollywood and the 10 Fwy. The 1 mile population growth is 4.61% from 2013-14, a near 1.5% higher than the county of Los Angeles as a whole. Rent-to-own ratios favor apartment investors, with 96% of the 1 mi. population renting.
S
S
3
668 S Rampart Blvd Los Angeles, CA 90057
Location /Market Overview
S
Nearby Developments Summit On 6th
Jenji Kohen (“Weeds” & “Orange is the New Black”) Renovating Hayworth Theatre
411 Units – 43,800 SF Retail The Nest
S 96 Unit Luxury Condos
Mixed Use: Hotel/Apartment/Retail
Wilshire Coronado
154 Unit Luxury Condos, ~8,500 SF Retail
4
668 S Rampart Blvd Los Angeles, CA 90057
Additional Photos
5
668 S Rampart Blvd Los Angeles, CA 90057
Comparables
6
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparables - Overview 1
S 3
2
4 S. No
Address
Sale Price
Price/Unit
1
681 Shatto Pl
$3,150,000
$105,000
2
625 S Burlington Ave
$3,425,000
$71,354
3
2810 Leeward Ave
$2,650,000
$73,611
4
812 S Westlake Ave
$2,755,000
$68,875
Price/Unit $105,000 $71,354
681 Shatto Pl
625 S Burlington Ave
$73,611
$68,875
2810 Leeward Ave 812 S Westlake Ave
$79,710
Average
7
9
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 1 681 Shatto Pl
Notes
Los Angeles, CA 90005 Closing Date
07/22/2014
•Close to Subject
Building Footage
24,642 SF
•Sold as 5.0% Cap
Sale Price # of Units Year Built
$3,150,000
Price/SF
24 (0+1), 6 (1+1) Price/Unit 1923
Submarket
$127.83 $105,000 Koreatown MF
8
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 2 625 S Burlington Ave
Notes
Los Angeles, CA 90057 Closing Date
03/07/2014
•Inferior location to Subject
Building Footage
23,480 SF
•Poor visibility, Sloped street
Sale Price # of Units Year Built
$3,425,000
Price/SF
40 (0+1), 8 (1+1) Price/Unit 1928
Submarket
$145.87
•Sold as 5.96% Cap
$71,354 Westlake MF
9
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 3 2810 Leeward Ave
Notes
Los Angeles, CA 90005 Closing Date
10/29/2013
• Inferior location to Subject
Building Footage
19,776 SF
• Sold as 6.22% Cap
Sale Price # of Units Year Built
$2,650,000
Price/SF
30 (0+1), 6 (1+1) Price/Unit 1923
Submarket
$134.00 $73,611 Koreatown MF
10
668 S Rampart Blvd Los Angeles, CA 90057
Sales Comparable 4 812 S Westlake Ave
Notes
Los Angeles, CA 90057 Closing Date
09/17/2013
•Inferior location and physical
Building Footage
23,040 SF
condition than Subject
Sale Price # of Units Year Built
$2,755,000
Price/SF
32 (0+1), 8 (1+1) Price/Unit 1927
Submarket
$119.57
•Sold as 6.25% Real Cap
$68,875 Westlake MF
11
668 S Rampart Blvd Los Angeles, CA 90057
Financial Analysis
12
668 S Rampart Blvd Los Angeles, CA 90057
Financial Analysis
13
668 S Rampart Blvd Los Angeles, CA 90057
Rent Roll
14
668 S Rampart Blvd Los Angeles, CA 90057
Demographics & Trends
15
668 S Rampart Blvd Los Angeles, CA 90057
Demographic Report
16
668 S Rampart Blvd Los Angeles, CA 90057
Traffic Count
S
17
668 S Rampart Blvd Los Angeles, CA 90057
Demographic Comparison Report
18
668 S Rampart Blvd Los Angeles, CA 90057
Rosano Partners Commercial Real Estate, Redefined. At Rosano Partners we’re a diverse group of seasoned professionals redefining the commercial brokerage landscape. With our collaborative team environment and an advanced proprietary software system, RP is ushering in a new wave innovation for our clients. RP aims to offer the finest commercial property acquisition and disposition services. We offer a unique blend of experience and expertise that will help you maximize your returns, increase your wealth, solidify your financial security, reposition your real estate assets and manage your acquisitions
The Future of Investing No more country clubs deals—we’re making commercial real estate accessible to our current and future clientele. At Rosano Partners, we believe investing shouldn’t be confined to a specific sector or group. By connecting different ethnicities and respecting the diversity of the investment community, Rosano Partners seeks to redefine the commercial real estate industry. Transformation through Transactions.
19
668 S Rampart Blvd Los Angeles, CA 90057
Presented By:
700 S. Flower St. Suite 2920 Los Angeles, CA 90017 Tel: 213.802.0300 Rosanopartners.com
20
