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1
1122 N GARDNER ST | WEST HOLLYWOOD
PRESENTED EXCLUSIVELY BY
424.262.4946 office
310.435.7399 mobile
jennyohomes@gmail.com
jennyohomes.com
DRE 01866951
JENNY OKHOVAT Residential and Commercial Real Estate
424.279.3070 mobile
isaac@realestatebh.com
DRE 01935352
ISAAC GOLBERG Broker Associate
2
TABLE OF CONTENTS
4 About The Property
5 Investment Details | Financial Overview
6 Space Details
7 Rent Roll
8 Photos (Interior)
9 Demographics
10 Nearby Parks & Recreation | Restaurants & Attractions
11 Parcel Map
13 About Jennifer Okhovat & Isaac Golberg
3
PROPERTY OVERVIEW
4
ABOUT THE PROPERTY
Prime West Hollywood immaculately maintained courtyard style building. Eight fully leased studio apartments within a secure entry building with many upgrades. Multiple modern & renovated units feature brand new flooring, LED recessed lighting, remodeled bathrooms and desirable floor plans. Newly updated kitchens with stainless steel appliances, new cabinets and quartz countertops. Rare opportunity to own eight units in one of WeHo’s most desirable neighborhoods near numerous coffee shops, fitness clubs, parks and grocery stores. Situated just around the corner from Breakfast by Salt’s Cure, world-famous Astro Burger, and Madison & Park Coffee.
5
$2,750,000Price
$343,750Price per unit
8Studios
$147,183NOI
INVESTMENT DETAILS
FINANCIAL OVERVIEW
Expense Current
Utilities $4,800
Insurance BOP $2,650
Insurance Umbrella $695
6
SPACE DETAILS
8Total number
of units
1923Year built
±5,381Sq Ft Lot
5531002003Parcel number
WDR2Zoning
±3,006Finished Sq Ft
Property overview
7
RENT ROLL
Financial overview
Unit TypeCurrent
RentLease Ending
Market Rent
1 Studio $1,700 04.14.2020 $1,900
2 Studio $1,800 10.31.2019 $1,900
3 Studio $1,700 02.17.2020 $1,900
4 Studio $1,106 03.01.2020 $1,300
5 Studio $1,550 03.01.2020 $1,700
6 Studio $1,650 11.30.2020 $1,700
7 Studio $1,560 $1,700
8 Studio $1,878 $1,900
Total in Rent $14,000
05.14.2020
03.01.2019
8
PHOTOS (INTERIOR)
9
DEMOGRAPHICS
The subject property is an 8 unit building in the highly desirable neighborhood of West Hollywood. This densely populated location ensures low vacancy rates and the surrounding demographics provide the ability to continue to force appreciation.
Total Housing Units 30,637
Total Population 49,310
Average Household Income $110,675
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92Walker’sParadise
58Good Transit
63Bikeable
NEARBY PARKS & RECREATION
• Plummer Park
• Poinsettia Playground
• Poinsettia Recreation Center
• Gardner Elementary School
• Melrose Elementary School
• Fairfax Senior High School
RESTAURANTS & ATTRACTIONS
• Whole Foods Market
• Sprouts Farmers Market
• Laurel Hardware Restaurant
• Madison & Park Coffee
• Salt’s Cure
• Astro Burger
• Starbucks Coffee
• Fatburger
• Jones
• Formosa Cafe
• Best Buy
• Target
• Training Mate WeHo
• RetroFit
• Ibiza Nails
• The Lot Studios
• Quixote Studios West Hollywood
• Westlake Recording Studios
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PARCEL MAPS
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ABOUTJENNIFER OKHOVAT & ISAAC GOLBERG
13
Jennifer "Jenny" Okhovat is a lifelong resident of Beverly Hills and a proud graduate of Beverly Hills High School and Cal State University Northridge. She became a licensed agent in early 2009 and quickly moved up the ranks to become one of the top agents at Compass' Sunset Strip office.
Her strong work ethic, knowledge of the market, and out-of-the-box marketing and sales techniques
have been critical to her success. Jennifer has been featured in a number of news and media outlets including the LA Times, Apartment Therapy, Realtor.com, Yahoo Finance, The Close, Bravo's Million Dollar Listing, Inman News, The Washington Post, and The Wall Street Journal. Clients seek her out as a reliable resource to consult and guide them in leases, purchases, and sales. One of her main principles: "never work on any deal you don't 100% believe in."
Jennifer joined John Aaroe Group in 2013, before the company was acquired by Pacific Union International, and then Compass. Prior to John Aaroe Group, Jennifer worked as a listing specialist with CA Realty. Jennifer has a BA degree in Gender and Women’s Studies from Cal State Northridge and is an active member of the Beverly Hills/Greater Los Angeles Association of REALTORS®, the California Association of REALTORS®, the National Association of REALTORS®, and is on Compass' Agent Advisory Council.
JENNY OKHOVAT Residential and Commercial Real Estate
As a member of Compass, I combine my own skills with those of our entire team of agents, who work closely to benefit each other’s buyers and sellers. Our firm is ideally sized to represent you effectively— small enough to act quickly, but big enough to deliver the powerful resources and global connections I need to get rewarding results for you. The best way to tell you what kind of representation I provide is to ask my clients. I’d be happy to send their comments to you, just contact me. Whether you’re looking to buy or sell, or just curious about the current real estate market, please don’t hesitate to get in touch with me by text, phone or email. I look forward to being a resource for you.
ISAAC GOLBERG Broker Associate
14
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 from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by the owner, Broker/Agent, 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. 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 Broker/Agent or Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the subject property described herein.
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