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Building Description:

11447 Tiara Street apartment complex is comprised of 8 garden-style apartment units in one two story building. The building construction is of wood frame with a flat roof and painted stucco exterior with accented windows. Development was completed in 1957 with a total of 5,210 building square feet on a 7,031 square foot lot. Current zoning is LAR3.

The apartment units are spacious and consist of 7 one bedroom/one bath units and 1 three bedroom/two bath unit. Common area amenities include gated access, tuck under parking, and one laundry facility with washer and dryer owned by landlord. Unit amenities include air conditioning wall units and stove hook ups.

The building is accessible in two locations, the first along the front of the property on Tiara Street across from an Elementary School and the second through the ally way in the rear of the property. There are a total of 5 parking spots in the rear of the building.

Aesthetically, the property grounds and building are very well maintained and attractive. The landscaping is well kept and manicured. The structure has impressive frontage providing for attractive curb appeal.

Economic Indicators & Market Trends:

North Hollywood typically has some of the highest rental rates in Los Angeles County. Even in a soft economy North Hollywood still boasts one of the lowest vacancy rates in the nation. The stabilization of rents, signs of an improving economy to come, and improving apartment fundamentals are helping investors to get a clearer picture on the market now.

As a result of greater than a 50 percent drop in construction of new units, difficulty obtaining new home loans, and due to the significant gap in cost between renting and owning the demand for quality affordable housing will continue to increase sustaining a strong demand for rental units . North Hollywood has always attracted savvy apartment investors due to its convenient location and historically long-standing strong rental market indicators. With attractive financing currently available with all time low interest rates and adjusted values in line with the market this could mark one of the best times to be in the market to purchase an apartment building.

Deal Points & Financing Options:

• Offered at $835,000
• 5.71% Cap Rate | 10.36 GRM | $104,375 CPU | $160.27 Per Square Foot
• Buyer to acquire new debt for 65% LTV at 5.25% Interest Rate fixed for 5 years or Buyer to Purchase all cash.

Location and Community Description:

11447 Tiara Street is located within a strong rental market of North Hollywood near the North Hollywood 170 freeway. The property is just south of Oxnard Street and East of Lankershim Boulevard The 1100 block of Tiara Street is a low traffic area with trees, homes, and apartments lining the block. The block has apartment buildings, single family homes, and a school in the surrounding area. The property is a short distance from the NoHo Arts District, Valley Village, Studio City, Burbank, and the Metro. This market is a strong hub for businesses and entertainment to thrive in.

19116 Bryant Street apartment complex consists of 8 garden-style apartment units in a two-story building. The building construction is of wood frame with a flat roof and white painted stucco exterior with green trim. Development was completed in 1962 with 8,208 building square feet on an 8,856 square foot lot. Current zoning is LAR3.

The unit mix is comprised of 1 three-bedroom/two-bath unit, 1 three-bedroom/one-bath unit, and 6 two-bedroom/one-bath units. There is street parking, 4 tuck under parking, and 4 open parking spaces, laundry facilities in each building, and 24-hour on-site security. These spacious units are equipped with individual air conditioning and heating wall units and some units feature spacious kitchens with stainless steel sinks.

The building is accessible through a secured gate at Parthenia Street and Vanalden Avenue.

Aesthetically, this rent-controlled property is attractive with well-manicured landscaping along the building.

Today's market with attractive financing, low interest, and adjusted values represents an opportune time to purchase a multi-family asset.

19116 Bryant Street is located in the Northridge submarket of the San Fernando Valley. The property lies south of Parthenia Street between Tampa Avenue and Reseda Boulevard. The working-class gated community consists of 58 apartment buildings, most of which are owned by Park Parthenia management. This building is one of the ten buildings that are privately owned.

Within walking distance is an elementary school where many of the children in the neighborhood attend. Just a few blocks away is the Northridge Metrolink Station, allowing for convenient travel. Also nearby are the California State University, Northridge (CSUN) and the Northridge Fashion Center. Notable anchor tenants of this shopping hub include Sears, JC Penney, Macy' s, Old Navy, and the Pacific movie theater. The mall also features popular shopping and dining tenants such as Abercrombie & Fitch, American Eagle Outfitters, Claim Jumper, and Lenscrafters. For more extensive travel, this property is the epicenter of accessibility; within a 5-mile radius, one can access the 101 Freeway to the South, the 118 Freeway to the North, the 405 Freeway to the East, and the 27 Topanga Canyon Boulevard to the West.

478 4th Place consists of a single-tenant corner lot property zoned TRC (Tourist Related Center). The property previously operated as a restaurant and bar. Built in 1952, the building’s exterior is comprised of adobe in the restaurant and bar areas and cement stone in the kitchen. The structure is 1,712 square feet on a 7,405 square foot lot. The property also offers a large covered dining patio area.

Formerly the Cabernet Bistro, this property still includes kitchen equipment such as walk-in fridge/freezer, stoves, utensils, and sinks. It is also furnished with booths, chairs, tables, and outdoor patio furniture. The romantic ambience contributes to its former reputation as a place where one does not “eat”, one “dines”. The occupancy is believed to be for up to 120 people but this has not been verified.

The property has great curb appeal, as visitors to the restaurant are greeted by well manicured landscaping and inviting green awnings at the two entrances off 4th Place and Copenhagen Drive. This property gains from exposure to both pedestrian and vehicular traffic in the heart of Solvang.

Economic Indicators & Market Trends:
The economic recession had especially impacted the retail market nationwide as consumers have sharply contracted spending. The city’s residential population of over 5,000, however, makes up just a fraction of Solvang’s consumers. The city is a high tourist attraction area year round, boasting an average of 2 million visitors a year, with the numbers rising annually. The local retail shops, vineyards, and restaurant s can thus benefit from business generated by both the residents and the visitors. Typically, most shops, restaurants, and bakeries close in the early afternoons in Solvang leaving opportunity for a business that offers visitors somewhere to shop or eat in the later hours of the afternoon and evenings.

Deal Points and Financing Options:
This investment presents numerous opportunities for an astute investor or business owner wishing to run a restaurant or re-develop the property to function as a new business operating under the many options that are included with TRC zoning.

This property can be purchased all cash or with 25% down with the owner carrying back the first. Please call for further details.

Solvang is an enchanting little city located in Santa Barbara County. Founded in 1911 by a group of Danish educators, the buildings reflect traditional Danish style architecture, and the city actually bears little resemblance to modern Denmark. Despite being only 2.5 square miles in total, the city has a lot to offer its 5000 residents and year round frequenting tourists including wine tasting featuring wines from the outlining wine country of Santa Ynez and excellent air quality to enjoy numerous outdoor activities. The tree-lined streets feature many restaurants, bakeries, shops, and museums to explore. In addition, there are festivals held throughout the year celebrating the rich Danish heritage.

The city of Solvang is accessed through the 101 Freeway via State Route 246. It lies nestled in the Santa Ynez Valley, roughly two hours north of Los Angeles. Solvang is also accessible by AMTRAK, which stops in Santa Barbara and San Luis Obispo connecting with bus service to Solvang.