4371 Overland Ave Culver City CA 90230 - LoopNetimages2.loopnet.com/d2/lEsv6ZQmXK-IWtl_WmGVfs4zWZ2J7... · 2017-10-13 · LOCATION LOCATIONOVERVIEW 4371 OVERLAND AVE CULVER CITY,

NON-RENT CONTROLLED TRIPLEX IN PRIME CULVER CITY

4371 OVERLAND AVECULVER CITYCA 90230

Mike MatthiasBRE# 01489863

310.995.8658 cell

[email protected]

OFFERING MEMORANDUMwww.CONCORD-RE.com | [email protected] | 310.551.0660

449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

PRESENTEDBY

Our mission

LOCATION OVERVIEWMarket overviewProperty Location

PROPERTY SUMMARYProperty Highlights

Property Details

Aerial Photo

Parcel Orientation

Photography

FINANCIALSFinancial Overview

Rent Roll

COMPARABLESSales Comps

Rent Comps

MARKETING PACKAGEOVERVIEW

4371 OVERLAND AVECULVER CITY, CA 90230

Mike Matthias

BRE# 01489863

310.995.8658 cell

[email protected]

ABOUT US

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Our world has changed and so has the business of real estate. It’s not enough to work with a typical real estate

company. At Concord, we think of ourselves as your partner - one who can bring every aspect of your portfolio

together under one roof, combining corporatecapabilities with a family feel.

Concord is the evolution of real estate. We’re changing the game and moving above and beyond what

you’ve come to expect. This is real estate unified; next-level services that seamlessly connect the dots so you

don’t have to. From acquisition to management to construction to the disposition, Concord is elevating your

experience every step of the way.


OUR CLIENTS ENTRUST US WITH SO MANY ASPECTS OF THEIR REAL ESTATE LIFE. OUR MISSION IS TO DUTIFULLY GUIDE THEM, CREATE VALUE AND ACT

IN HARMONY WITH THEIR BEST INTEREST.

WE PARTNER WITH YOU EVERY STEP OF THE WAY TO ELEVATE YOUR REAL ESTATE EXPERIENCE

a different kind of real estate partner.

OUR MISSION4371 OVERLAND AVECULVER CITY, CA 90230


LOCATION

4371 OVERLAND AVE CULVER CITYCA 90230

LOCATIONLOCATION OVERVIEW

CULVER CITY, CALIFORNIA

Over the course of just a couple of years, Culver City has been among the most significant emerging submarkets in

Los Angeles. Culver City’s central location on the Westside along with the Expo Line extension has made this area

irresistible to residents. The growth of Silicon Beach, which is home to over 500 tech startup companies has also

impacted the growth of Culver City. With Santa Monica virtually out of space and Playa Vista filling up fast,

developers and brokers are eying Culver City as the next big place to pop for tech and creative users.

Culver City’s recent developments include a new TOD district encompassing one-half mile around the new Expo

station, and looking to connect it with adjacent districts through pedestrian amenities, car and bike-sharing, and

(hopefully) a shuttle. Additionally, Culver City's working on innovative ways to enhance high-speed Internet service

and provide parking to help grow its creative office districts.

Most of the city's attractions and activities are centered around its two most walkable areas: Downtown Culver

City, an increasingly pedestrian-friendly destination along Culver Boulevard, and the Culver City Arts District, with

galleries along Washington and La Cienega Boulevards and shops and restaurants at Helms Bakery. Whether

you're hungry for one of LA's best burgers or in search of the most unique off-the-beaten-path museum, you'll find

plenty to enjoy in Culver City. For the active types, Culver City offers some of the best parks, hiking trails, and

playgrounds in Los Angeles. The year-round farmer’s market offers fresh fruits, vegetables and a selection of other

fine foods, and takes place every Tuesday, rain or shine, on downtown Culver City's Main Street, from 2 to 7 pm.

Boasting a vibrant creative tenant roster, an incredible work live play atmosphere and one of the best public-

school systems in the county, there is nothing holding this city back!

LAX Airport: 20 minutes by car or 55 minutes by public transit

Santa Monica Pier: 15 minutes by car

Hollywood Walk of Fame: 25 minutes by car

Venice Boardwalk: 20 minutes by car

The Grove: 20 minutes by car





Veteran Memorial

Park

Kenneth Hahn State

Recreation

Carlson Park

Venice BlvdBigfoot Lodge West

Super Pho & Teriyaki

Tara's Himalayan Cuisine

A&S Market

Bamboo Restaurant

Bella Vista Brazilian Gourmet

Pizza

Shawarma Land Mediterranean

4371 Overland Ave

Coombs Park

Spot Cafe & LoungeCoffee Shop

Culver CenterRalphs

LA Fitness

Bank of America

GNC

Yogurtland

Best Buy

GameStop

Robeks

The Coffee Bean

Tuesday Morning

Cafe 70 Degrees

Washington BlvdSamosa House East

Red Wing

Lucky Nails

Lonzo's Bakery

Rising Hearts Bakery

Culver City Flower Shop

Sushi Karen Japanese

PURE Dog Food

Shikibu

Essential Chocolate Desserts

Boneyard Dog

Park

Baldwin Hills Scenic

Overlook

Downtown Seventy7 Lounge

Carbon

Drybar Culver City

K-ZO

Trader Joe’s

The Wallace

Kayndaves

Pieology Pizzeria

Veda Yoga Center

India Sweets & Spices

Casa Oaxaca

Ugo Café

Tender Greens

Rush Street

ArcLight Cinemas Akasha

PROPERTY SUMMARY

4371 OVERLAND AVE CULVER CITY CA 90230


PROPERTY SUMMARYPROPERTY HIGHLIGHTS

3 UNITS IN PRIME CULVER CITY LOCATION• Non-rent control with immediate upside

• Centralized Culver City location

• Roof and windows were replaced in 2015

• One unit delivered vacant at COE

• Each unit is separately metered for gas & electricity

• Approximately four parking spaces, including three garages

• Kitchens and bathrooms have been updated in 2 of the units

• Each unit has private outdoor space and individual water heaters


PROPERTY SUMMARYPROPERTY DETAILS

PROPERTY DESCRIPTION4371 Overland Ave, is located in the prime Culver City market just a short distance to Downton

Culver City with abundant restaurants, movie theaters, shops, Sony Studios, Kirk Douglas Theater,

bike paths, parks, and the Expo light rail. This charming triplex is situated on an almost 4,500 sq ft lot,

CCC2Y zoning and two detached garages in the back. All three units are one bedroom/one

bathroom with private outdoor space. Some upgrades have been completed to kitchens and

bathrooms. The roof and windows were replaced in 2015. One unit will be delivered vacant at close

of escrow.

PROPERTY DETAILSUnits 3Major Intersection Overland and Culver Blvd

Market Culver CityAPN 4210-018-041Zoning Type CCC2YYBuilding SF 1,634 SFLot Size SF 4,499 SF


PROPERTY SUMMARYPROPERTY AERIAL


PROPERTY SUMMARYPARCEL ORIENTATION


PROPERTY SUMMARYPROPERTY PHOTOS










FINANCIALS

4371 OVERLAND AVE CULVER CITY CA 90230


FINANCIALSFINANCIAL OVERVIEW - $1,200,000


FINANCIALSRENT ROLL



COMPARABLES


COMPARABLESSALES COMPS

Sales Comps

4212 La Salle Ave

4181 Lincoln Ave

3950 Tilden Ave

10806 Overland Ave

4084 Van Buren Pl

4371 Overland Ave


COMPARABLESSALES COMPS

1

4371 Overland Ave Culver City, CA 90230

4212 La Salle Ave Culver City, CA 90232

4181 Lincoln Ave Culver City, CA 90232 4084 Van Buren Pl Culver City, CA 90232

Comments: All units delivered vacant 5/1/2017, NRC

Comments:Comments:

Comments:

Comments: Subject property


Comments:

Sale Price $1,535,000

COE 8/23/2017

# of Units 2

LOT SF 6,740

Building SF 1,516

Price/SF $1,013

Price/Unit $767,500

Year Built 1922


COE 6/20/2017

# of Units 2

LOT SF 6,754

Building SF 1,562

Price/SF $1,081

Price/Unit $844,500

Year Built 1925


COE 6/29/2017

# of Units 3

LOT SF 6,933

Building SF 1,932

Price/SF $673

Price/Unit $433,333

Year Built 1947


COE 5/3/2017

# of Units 3

LOT SF 7,052

Building SF 1,708

Price/SF $859

Price/Unit $489,333

Year Built 1946


COE 9/29/2017

# of Units 2

LOT SF 7,755

Building SF 1,665

Price/SF $691

Price/Unit $575,00

Year Built 1948

UNITS UNIT TYPE

1 3 + 1

1 1 + 1

UNITS UNIT TYPE

2 4 + 2UNITS UNIT TYPE

2 2 + 1

UNITS UNIT TYPE

3 1 + 1

UNITS UNIT TYPE

1 3 + 1.5

1 2 + 1

1 1 + 1

LISTED FOR $1,200,000

# OF UNITS 3

LOT SF 4,499

BUILDING SF 1,634

PRICE/SF $734

PRICE/UNIT $400,000

YEAR BUILT 1947UNITS UNIT TYPE

3 1 Bed/1 Bath


3950 Tilden Ave Culver City, CA 90232

COMPARABLESRENT COMPS

Rent Comps

3951 Prospect Ave

4620 S Slauson Ave

3848 Overland Ave

1315 Raintree Cir

3671 Mentone Ave

4371 Overland Ave


COMPARABLESRENT COMPS

UNIT TYPE 1 + 1

RENT $1,995

4


3951 Prospect Ave Culver City, CA 90232


RENT $2,000

UNIT SIZE N/A

UNIT TYPE 1 + 1

1315 Raintree Circle Culver City, CA 90230

RENT $2,100

UNIT SIZE 735 SQ.FT.

UNIT TYPE 1 + 1

RENT $1,925

UNIT SIZE N/A

UNIT TYPE 1 + 1

Comments:

Comments: 1 parking space Comments: Gated community with 24 hour security, multiple pools,

spa/sauna and small gym. The complex is quiet and peaceful, perfect to relax after a long day.

Comments: Subject Property

4620 S Slauson Ave Culver City, CA 90230 3671 Mentone Ave Los Angeles, CA 90034

RENT $2,150

UNIT SIZE N/A

UNIT TYPE 1 + 1

RENT $1,995

UNIT SIZE 750 SQ.FT.

UNIT TYPE 1 + 1

Comments: Fully renovated in 2015 Comments: Newly renovated top floor apartment with parking in 9 unit building


OFFERING MEMORANDUM


Mike MatthiasBRE# 01489863

310.995.8658 cell

[email protected]

www.CONCORD-RE.com | [email protected] | 310.551.0660

449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

4371 Overland Ave Culver City CA 90230 - LoopNetimages2.loopnet.com/d2/lEsv6ZQmXK-IWtl_WmGVfs4zWZ2J7... · 2017-10-13 · LOCATION LOCATIONOVERVIEW 4371 OVERLAND AVE CULVER CITY,

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