NON-RENT CONTROLLED TRIPLEX IN PRIME CULVER CITY 4371 OVERLAND AVE CULVER CITY CA 90230 Mike Matthias BRE# 01489863 310.995.8658 cell [email protected]OFFERING MEMORANDUM www.CONCORD-RE.com | [email protected]| 310.551.0660 449 South Beverly Drive, First Floor, Beverly Hills, CA 90212
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4371 Overland Ave Culver City CA 90230 - Constant …files.constantcontact.com/796e91ba001/065a2e46-8910-43c6...Culver City’scentral location on the Westside along with the Expo
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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.
4371 OVERLAND AVECULVER CITY, CA 90230
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
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.
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
4371 OVERLAND AVECULVER CITY, CA 90230
LOCATIONLOCATION OVERVIEW
LOCATIONLOCATION OVERVIEW
4371 OVERLAND AVECULVER CITY, CA 90230
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
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.
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
4371 OVERLAND AVECULVER CITY, CA 90230
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, Kirt 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
4371 OVERLAND AVECULVER CITY, CA 90230
PROPERTY SUMMARYPROPERTY AERIAL
4371 OVERLAND AVECULVER CITY, CA 90230
PROPERTY SUMMARYPARCEL ORIENTATION
4371 OVERLAND AVECULVER CITY, CA 90230
PROPERTY SUMMARYPROPERTY PHOTOS
4371 OVERLAND AVECULVER CITY, CA 90230
PROPERTY SUMMARYPROPERTY PHOTOS
4371 OVERLAND AVECULVER CITY, CA 90230
PROPERTY SUMMARYPROPERTY PHOTOS
4371 OVERLAND AVECULVER CITY, CA 90230
PROPERTY SUMMARYPROPERTY PHOTOS
4371 OVERLAND AVECULVER CITY, CA 90230
PROPERTY SUMMARYPROPERTY PHOTOS
4371 OVERLAND AVECULVER CITY, CA 90230
FINANCIALS
4371 OVERLAND AVE CULVER CITY CA 90230
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.
FINANCIALSFINANCIAL OVERVIEW - $1,200,000
4371 OVERLAND AVECULVER CITY, CA 90230
FINANCIALSRENT ROLL
4371 OVERLAND AVECULVER CITY, CA 90230
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.
COMPARABLES
4371 OVERLAND AVE CULVER CITYCA 90230
COMPARABLESSALES COMPS
Sales Comps
4212 La Salle Ave
4181 Lincoln Ave
3950 Tilden Ave
10806 Overland Ave
4084 Van Buren Pl
4371 Overland Ave
4371 OVERLAND AVECULVER CITY, CA 90230
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
10806 Overland Ave Culver City, CA 90230
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
Sale Price $1,689,000
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
Sale Price $1,300,000
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
Sale Price $1,468,000
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
Sale Price $1,150,000
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
4371 OVERLAND AVECULVER CITY, CA 90230
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
4371 OVERLAND AVECULVER CITY, CA 90230
COMPARABLESRENT COMPS
UNIT TYPE 1 + 1
RENT $1,995
4
4371 Overland Ave Culver City, CA 90230
3951 Prospect Ave Culver City, CA 90232
3848 Overland 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