NEW EXCLUSIVE LISTING – 5 units in Mid-City – 1614 6th Avenue, Los Angeles, CA 90019

Property Description:

David Bramante is pleased to exclusively offer for sale 1614 6th Avenue, Los Angeles, CA 90019. This well-maintained turnkey apartment investment consists of five multi-family units located in the highly desirable Mid-City submarket of Los Angeles.

The property has a strong unit mix of two one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units, and several of these units have been recently remodeled.

The building is stucco, two-story and comprised of 3,981 rentable square feet, and is situated on a lot comprised of 4,077 square feet. With newer paint and well manicured landscaping, this late 1930’s construction shows very well compared to other multi-family properties in the vicinity.

This property provides onsite parking for several tenants and ample street parking is available. 1614 6th Avenue is located at Venice Boulevard between Crenshaw Boulevard and Arlington Avenue, and is just north of the 10 Freeway.

Centrally located in Mid-City, this investment is easily accessible and close to the Westside, Downtown Los Angeles, and Hollywood.In addition to this property’s close proximity to major LA street thoroughfares and freeways, the Metro Transit Authority is scheduled to complete the proposed Metro Crenshaw Line by 2016, which would place a light rail station at the intersection of Pico Boulevard and San Vicente Boulevard.

Mid-City is well known for high property values and rent amounts because of its central location, dense tenant population and high traffic. This is an excellent opportunity for an investor to purchase a well-maintained partially remodeled investment yielding solid returns, with significant potential upside in rents.

David Bramante sold 523 North Alexandria Avenue Los Angeles CA 90004. A 9-unit multi-family / apartment building in Koreatown

David Bramante sold 523 North Alexandria Avenue. This turnkey multi-residential apartment investment consists of nine units located in the highly desirable Koreatown neighborhood of Los Angeles.

The unit mix is eight single/one-bathroom units and one two-bedroom/one-bathroom unit. The buildings are stucco, two-story and comprised of 3,686 rentable square feet, and are situated on a large lot comprised of 7,579 square feet.

With newer paint and well manicured landscaping, this late 1940′s construction shows very well compared to other multi-family properties in the vicinity.

For Sale: Retail/Commercial in Los Angeles, CA, $2,750,000

For Sale: Retail/Commercial in Los Angeles, CA, $2,750,000.

1670 Beverly Blvd LOS ANGELES, CA Beverly Union Lofts is a 14-unit mixed-use investment in south Echo Park. Consists of 10 lofts, 4 offices, & 31 spaces. Retail/Commercial $2,750,000 Year Built 1954 Sq Footage 13,866 Floors 2 Parking Uncovered spaces Lot Size 18,000 sqft Maint $0 per month Description This 14-unit mixed-use investment property is located on Beverly Boulevard in the southern portion of the Echo Park submarket near Downtown Los Angeles. Consisting of 10 large loft and 4 office units, this property provides a unique unit mix for modern living and creative business spaces, including an adjacent parking lot of 31 tenant parking spaces in the sale. Two distinct loft and office buildings accommodate a variety of styles ranging from contemporary rustic to industrial chic. The front building boasts restored hardwood floors, open beam ceilings and oversized windows for maximum natural lighting. Property Features Located near Downtown Los Angeles in Echo Park All tenants are on NNN leases Comprised of 10 lofts and 4 offices Included in sale are 31 parking space (adjacent lot) Extremely high returns to investor 1954 construction, completely renovated in 2001 Two buildings included with a beautiful interiour courtyard Additional Photos Photo 1 Photo 2 Photo 3 Photo 4 Photo 5 Photo 6 Contact Info David Bramante Marcus & Millichap (213) 943-1832 For sale by agent/broker Equal Opportunity Housing

David Bramante – Los Angeles Market Watch

DAVID BRAMANTE

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MARCUS and MILLICHAP | REAL ESTATE INVESTMENT SERVICES

 

Los Angeles MarketWatch

Week Ending October 2, 2009

 

 $1 million going further in many housing markets

Saturday September 26, 2009 11:25 PM

By ADRIAN SAINZ AP Real Estate Writer A million dollars doesn’t buy you what it once did. In most U.S. neighborhoods, it now gets you a lot more. During the housing boom, prices rose so high and so fast that even cookie-cutter homes in the paved suburbs of South Florida and California could cost a cool million. In Santa Clara, Calif., a …

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Pace of U.S. home price declines slows in July, index shows

Wednesday September 30, 2009 01:17 PM

Pace of U.S. home price declines slows in July, index shows The drop eases to 13.3% in July compared with 15.4% in June, suggesting the housing market is approaching its bottom. In L.A. and Orange County, July prices were down 14.9% from the previous year. Builder Jean Gagnon cuts siding panels while completing a new home in Derry, N.H. A 20-city index of home prices is at levels last …

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Housing market continues stabilization

Tuesday September 29, 2009 03:46 AM

San Fernando Valley home prices showed more signs of stabilization in August and annualized sales increased for the 14th consecutive month, a trade association said Monday. The median price of a previously owned house slipped 8.5 percent last month to $389,000, from $425,000 a year earlier, said the Van Nuys-based Southland Regional Association of Realtors. It is the second consecutive …

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Jobless rates drop in most metro areas in August

Wednesday September 30, 2009 01:22 PM

WASHINGTON (AP) — The unemployment rate fell in about 60 percent of metropolitan areas in August from the previous month, as layoffs eased nationwide. An Associated Press analysis of Labor Department data found that the jobless rate dropped in 232 of 380 metro areas. That’s an improvement from July, when metro areas were split between those with rising and falling joblessness. It’s much better …

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Consumer spending jumps 1.3% in August
Thursday October 01, 2009 10:43 AM

WASHINGTON — Consumer spending, propelled by the wildly popular Cash for Clunkers auto sales program, shot up in August by the largest amount in nearly eight years even though personal incomes continued to lag. The Commerce Department said Thursday that consumer spending rose 1.3 percent in August, even better than the 1.1 percent gain that had been expected. Incomes, the fuel for future …

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Investors Eye Apartments, Distressed Properties
Wednesday September 30, 2009 04:42 PM

Apartments remain the favored property type among risk-averse investors. Nearly half of respondents (46%) to a quarterly survey conducted by National Real Estate Investor, Retail Traffic and Marcus & Millichap Real Estate Investment Services indicate that now is the time to buy apartments, up from 38% in the second quarter. Demand for apartments is even stronger among respondents who are …

 

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$52M Office Sale Tops L.A. County Deals

Sunday September 27, 2009 01:05 PM

PASADENA, CA-Grosvenor Americas has sold its 203,911-square-foot 2 N. Lake Ave. office tower to a private buyer based in the San Gabriel Valley city of Arcadia in a transaction that ranks as the largest brokered office deal in L.A. County this year and one of the largest in Southern California.

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Entrada Wins 1,900-Unit Management Assignment

Sunday September 27, 2009 01:05 PM

LOS ANGELES-Entrada Partners has been awarded an assignment to provide multifamily asset management services to the real estate division of a $25 billion global private equity firm. Entrada co-founder Reuben Berman tells GlobeSt.com that Entrada, which he and fellow industry veteran Justin Schuman founded early this year, will be helping to oversee a portfolio of approximately 1,900 apartment …

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Energy Plans Help Projects Secure Loans

Sunday September 27, 2009 01:05 PM

EL SEGUNDO, CA-Two California real estate projects have landed $7 million in financing from a new SBA loan program that doubles the allowable loan limit for borrowers who reduce energy consumption, according to locally based Partner Energy, which acted as an adviser to the borrowers. Tony Liou, president of Partner Energy, explains that the SBA has amended its 504 loan program so that borrowers …

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Italian Manufacturer To Anchor CleanTech Center
Monday September 28, 2009 07:06 AM

LOS ANGELES-Rail car maker AnsaldoBreda plans to set-up operations in Los Angeles at the CRA/LA’s CleanTech Manufacturing Center in the Downtown industrial core, according to the Community Redevelopment Agency of the City of Los Angeles (CRA/LA). The CRA says that the manufacturer “will bring a new, sustainable facility and nearly 1,000 middle-class jobs, as a result of Metro (Los Angeles County …

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Colony Financial Prices Shares of $255M IPO

Sunday September 27, 2009 01:05 PM

CENTURY CITY, CA-Colony Financial Inc. has set the stock price at $20 per share for the IPO of a new REIT that will buy distressed assets, including performing and nonperforming loans. The previously announced REIT, which will be managed by a subsidiary of Thomas Barrack Jr.’s Colony Capital, anticipates gross proceeds of $255 million, assuming that underwriters do not exercise their …

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Equity Residential Sells 220 Units for $37M

Sunday September 27, 2009 01:05 PM

SAN PEDRO, CA-Equity Residential has sold its 220-unit Harbor View and Bay Ridge apartment complexes here for $37.25 million, according to Marcus & Millichap, which brokered the sale. The price paid for the two complexes works out to $168.74 per square foot and represents a cap rate of approximately 7% based on today’s asking rents. Equity, a Chicago-based apartment REIT, was represented in the …

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Four Office Tenants Sign for 104,000 SF

Sunday September 27, 2009 01:05 PM

THOUSAND OAKS, CA-Office tenants have signed new leases for more than 104,000 square feet of space in recent transactions here and in Los Angeles, according to principals and brokers in the leases. The largest of the four deals is a 58,751-square-foot lease by State Farm Mutual Automobile Insurance Co. at Kennedy Wilson’s Oaks at Westlake project. The others include a deal for 24,282 square feet …

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Behringer Buys N. Hollywood Apt. Complex for $96M

Tuesday September 29, 2009 03:46 PM

Behringer Harvard acquired a 438-unit apartment building at 5416 N. Fairview Ave. in North Hollywood, CA, from Fairfield Properties LP for $96 million, or $219,178 per unit. Built in 2006, the four-story property totals 690,600-square-feet on a 6.58-acre lot. The unit mix is split evenly with 146 one-bedroom/one-bathroom units, 146 two-bedrooms/two-bathrooms units and 146 …

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Upgraded 112-Unit Complex Sells for $21M
Sunday September 27, 2009 01:05 PM

HOLLYWOOD-Hollywood Place Apartments LLC of Los Angeles has acquired the 112-unit Hollywood Place Apartments at 7400 Hollywood Blvd. for $21.3 million in what is called the largest multifamily deal in Hollywood this year.

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73,000-SF RiverPark Gateway Debuts
Wednesday September 30, 2009 07:17 AM

OXNARD, CA-The RiverPark Gateway development of 73,472 square feet of freestanding office, medical office buildings and condominiums for sale or lease is set to debut today with a grand opening.

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Singpoli Invests $52 Million in Pasadena Assets

Tuesday September 29, 2009 06:51 PM

In one of the Los Angeles area’s largest deals of the year, Singpoli, an architecture and construction company based in Arcadia, CA, acquired a mixed group of office and retail buildings in Pasadena from Grosvenor, a global investment firm, for $52 million. The deal includes 2 N. Lake Ave., a 203,911-square-foot, Class A office building with an Energy Star label plus its 160,883-square foot …

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Sony Renews at Howard Hughes Center

Tuesday September 29, 2009 06:51 PM

Sony Corp. has extended its 50,435-square-foot lease at 6080 Center Drive in Los Angeles. Equity Office Partners signed the electronics giant to a five-year deal. The 12-story, 315,592-square-foot office building was built in 2001 in the Marina Del Rey/Venice submarket, about five miles north of LAX. It is part of the Howard Hughes Center. Sony operates its Digital Cinema Sales Office out of the …

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Apartment Experts Assess Market Potential

Tuesday September 29, 2009 07:47 AM

LOS ANGELES-Experts on the local, regional and national apartment markets will zero in on the industry’s outlook and offer their assessments of market opportunities in an all-day conference and networking event on Thursday, Oct. 8 at Apartments 2009, an annual event in the RealShare series. The annual gathering of apartment investors, owners, brokers, lenders and others involved in the …

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DAILY DEALS

Transactions for October 2

 

DAILY DEALS

Transactions for October 1

 

DAILY DEALS

Transactions for September 30

 

DAILY DEALS

Transactions for September 29

Liquidation Sale at Wilshire Grand Hotel in Downtown LA

While walking to work in Downtown LA, I noticed a group of day laborers / movers unloading dressers, headboard, nightstands and TVs onto the sidewalk. Apparently, the Wilshire Grand Hotel in Downtown Los Angeles had an impromptu liquidation sale of some of its furniture. Everything had prices, TVs were going for $10. Hurry!

One of a kind Downtown Los Angeles artist loft! Everything u want. Don’t miss out! VIEWS

One of a kind artist loft! Everything u want. Don’t miss out! VIEWS

Hands down, this is one of the best lofts in Downtown LA ever built. Amazing views, great open large spaces, new kitchen, new bath, and high ceilings. Huge closet, large bedroom, concrete floors and much much more. That’s not enough? It has a large private balcony with insane Downtown skyline views.

Everything you want in one space. The building has fantastic, creative and professional tenants. Check out the businesses at the building on our website www.CityViewLofts.info.

Loft Description:

— Amazing Views of LA
— Legally Live / Work Space
— 18-ft Ceiling
— 1800 ft²
— Polished Concrete Floors
— Central AC & Heat System
— Full Bathroom (Individual Water Heater, Large Bath / Shower and Vanity Lights)
— One Full Kitchen with Bar
— New Stainless Steel Appliances (Refrigerator, Gas Stove and Dishwasher)
— Located on the 3rd Floor (SE Corner)
— Huge Historic Arched Window
— Exposed Piping
— Huge Walk-in Closet
— Tons of Storage
— New Granite Countertops
— Unfurnished
— Open Floorplan

Building Amenities:

— Two Separate Entrances
— Controlled Access (Two Intercom Systems)
— Additional Free Parking at the Wilshire Union Center (One Block North)
— Tenant Rooftop Sundeck
— Two Keyed Elevators (Regular Service and Freight Service)
— Laundry Room (Five Washers and Five Dryers)
— Paid Water
— Paid Trash
— On-site Management
— Evening Security
— Full-time Cleaning Staff

Additional Building Amenities:

— Event Parking Available
— Storage Rooms and Units Available
— Maid Service Available

Contact / Building Info:

— David Bramante
— 213.216.3754
— City View Lofts
— www.CityViewLofts.info

$2350 / 1br – One of a kind artist loft! Everything u want. Don’t miss out! VIEWS

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Hands down, this is one of the best lofts in Downtown LA ever built. Amazing views, great open large spaces, new kitchen, new bath, and high ceilings. Huge closet, large bedroom, concrete floors and much much more. That’s not enough? It has a large private balcony with insane Downtown skyline views. Everything you want in one space.

Loft Description:

— Amazing Views of LA
— Legally Live / Work Space
— 18-ft Ceiling
— 1800 ft²
— Polished Concrete Floors
— Central AC & Heat System
— Full Bathroom (Individual Water Heater, Large Bath / Shower and Vanity Lights)
— One Full Kitchen with Bar
— New Stainless Steel Appliances (Refrigerator, Gas Stove and Dishwasher)
— Located on the 3rd Floor (SE Corner)
— Huge Historic Arched Window
— Exposed Piping
— Huge Walk-in Closet
— Tons of Storage
— New Granite Countertops
— Unfurnished
— Open Floorplan

Building Amenities:

— Two Separate Entrances
— Controlled Access (Two Intercom Systems)
— Additional Free Parking at the Wilshire Union Center (One Block North)
— Tenant Rooftop Sundeck
— Two Keyed Elevators (Regular Service and Freight Service)
— Laundry Room (Five Washers and Five Dryers)
— Paid Water
— Paid Trash
— On-site Management
— Evening Security
— Full-time Cleaning Staff

Additional Building Amenities:

— Event Parking Available
— Storage Rooms and Units Available
— Maid Service Available

Contact / Building Info:

— David Bramante
— 213.216.3754
— City View Lofts
— www.CityViewLofts.info

FREE! – The Investor Workshop: First-Time Home Buyer – Houses v. Multiple-Unit Purchases

The Investor Workshop:
First-Time Home Buyer – Houses v. Multiple-Unit Purchases

Presented by David Bramante
Guest Speaker Brian McKim
Saturday, July 11, 2009 from 12am to 1pm
Location TBA

How great would it be to have other people pay for your first property? Very few first-time home buyers realize that buying a multiple-unit property is one of the greatest ways to start an investment portfolio. Plus there are many benefits and the best one is that you’ll have tenants paying your mortgage.

With low housing prices, low interest rates and large free government incentives, isn’t a great time to buy your first property? Come learn about buying your first investment from the experts. It’s a buyer’s market and a great time to become a property owner. With low housing prices, low rates and large tax incentives, it’s never been a better time to buy. Find out what neighborhoods are best, what to look for and find out what types of loans are available.

There will be a discussion with David and Brian about these topics, and a Q & A session will follow. Casual atmosphere. Refreshments will be provided. This buyer workshop is absolutely free and informational. You will not be asked to buy anything!

Please RSVP because space is limited to ensure we cover the market, steps to buying and available loan options.

David Bramante is a real estate broker with Marcus & Millichap Los Angeles. He specializes in investment real estate and has owned homes in Silver Lake and Echo Park. Brian McKim is a mortgage broker with Bank of America. He specializes in 1st time home owner programs. If you’ve got a question about financing, he’s got the answer.

For more information and to RSVP, call:
David Bramante 213-216-3754
TheInvestorWorkshop.com
DavidBramante.com

$8k Tax credit for First Time Home Buyers can be used for Down Payment

“DONOVAN ANNOUNCES RECOVERY ACT’S HOMEBUYER TAX CREDIT CAN IMMEDIATELY HELP THOUSANDS OF FIRST-TIME HOMEBUYERS TO BUY A HOME
FHA plan will stimulate new home sales and help stabilize housing market

WASHINGTON – Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration’s new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today’s action will help stabilize the nation’s housing market by stimulating home sales across the country.

The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today’s announcement details FHA’s rules allowing state Housing Finance Agencies and certain non-profits to “monetize” up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA’s new mortgagee letter, visit HUD’s website.”

Contact me for more info!
David Bramante
www.DavidBramante.com

What it takes to buy an apartment building in this economy

What it takes to buy an apartment building in this economy
(Or a brief explanation why you shouldn’t invest in gold bars)
By David Bramante

Very few people will ever own an apartment building, but almost everyone will rent at one point in their life or another. Even with the many requirements fulfilled, securing a commercial loan can be especially tough in an economy like this one.

Though retail and office buildings sales have plummeted, with huge retail chains and businesses slamming their doors over night, tenants are still viewing and renting apartments, and investors are still buying and selling commercial real estate everyday. This will never change no matter what economy we’re in.

So what does it take to buy this hot type of commercial building (a commercial / apartment building is considered 5 units or more)? It takes a lot. So if you’re interested in building true wealth, you need to know what is expected and take the necessary steps.

The most obvious requirements are cash and credit. For a conventional commercial loan with an interest rate of 6 to 6.5 percent, you will need a minimum FICO score of 680 and have 30 to 35 percent of the purchase price for a down payment. This is not very different from conventional residential financing at about 5 to 6 percent, where you need a minimum FICO score of 640 and about 30 percent for a down payment. But that’s were the similarities end.

(Example: You will need $225,000 down to purchase a 10-unit apartment building for $750,000).

In Southern California, those aren’t very rigorous requirements because there’s an abundance of cash flowing throughout the region. But obviously, $225k is not chump change and for the large majority of people that live month-to-month on salary, this will never become a reality.

What do you need next? You must be liquid (aka have cash reserves) equal to 6 to 12 months worth of mortgage payments (interest and principal combined) and have a net worth that is equal to or greater than the purchase price of the property (networth equals your assets minus your liabilities).

So that’s what it takes to own an apartment building. It’s a blue print for becoming an apartment tycoon and creating true financial wealth, but these requirements are the reasons why there are so many renters and so few owners, and why investing in apartment buildings is better than investing in gold.

For those that can’t buy an apartment building, the alternative is buying up to a 4-unit building, which is a hybrid: You can buy multiple units and collect rent, all the while utilizing a conventional residential loan to purchase the property.

Thanks for reading. Visit my website!
www.DavidBramante.com