The Group
CRE
Off-Market Multifamily Acquisition Brief
Taylor
taylor@thegroupcre.com
(310) 555-1234
5295 Archwood St, North Hollywood
APN:
2308-097-002
San Fernando Valley
9
units
Built
1970
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Headline Metrics
Opportunity Score
54 / 100
Assessed Value
$738K
Last Sale Price
$1.61M
Last Sale Date
Jul 11, 2002
Hold Years
23.9 yrs
Units
9
RSO Status
pending
ULA Exposure
None / Pending
Soft-Story
pending
Why This Deal
top signals — public record sources
Long hold
23.9 years
Prop 13 locks assessed value near purchase price; longer hold = larger gap to market
📂 LA County Assessor — Deed transfer records (last_sale_date field)
+22
Prop 13 equity gap
Assessed $0.74M vs ~$2.2M est. market (33% of comp)
At 33% of submarket comp, locked equity creates sell/refi pressure
📂 LA County Assessor 2024 roll — annual assessed value (data.lacounty.gov)
+17
Owner entity: trust
Castillo Trust
Trust ownership signals estate/succession planning; trustee sales common
📂 LA County Assessor — owner-of-record (assessment roll)
+15
Ownership
LA County Assessor — owner of record
Current Owner
Castillo Trust
trust
Held
23.9 years
(since 2002)
Most recent transfer:
arms length
LA Underwriting Pro-Forma
RSO · ULA · Cap rate — every number cited
🔵 RSO Rent Roll Model
RSO status pending LAHD data ingestion.
🟡 ULA Mansion Tax Exposure
Projected sale price
$2.21M
max(AV × 1.5 = $$1.11M, submarket $/unit × units = $$2.21M)
ULA Exposure
None — below $5.15M
Source:
Measure ULA
· Ordinance 187382, Apr 2023. Paid by seller at close.
📊 Implied Cap Rate
Rent basis
submarket median rent
GSI (annual)
$173K
NOI (5.0% vacancy, 35.0% opex)
$107K
At AV
(Prop-13 — understated)
14.5%
$738K AV
At Market
(comp-adjusted)
4.8%
$2.21M est.
AV cap is artificially high — Prop-13 AV locks near purchase price. The gap is the owner's hidden equity.
🔴 Soft-Story Retrofit Capex
Pending LADBS data ingestion.
Comparable Sales
Last 24 months · San Fernando Valley submarket
No comps within San Fernando Valley submarket in last 24 months with recorded sale prices.
LA Regulatory Flags
LAHD · LADBS · Measure ULA
🔵 RSO Status
data pending
Pending LAHD RSO dataset ingestion.
Source:
LAHD RSO dataset
· LAMC §151.02
🟡 ULA Mansion Tax
data pending
Pending la-flags-ingest data.
Source:
Measure ULA
· Ordinance 187382 (Apr 2023)
🔴 Soft-Story Retrofit
data pending
Pending LADBS data ingestion.
Source:
LADBS
· Ordinance #183893