The Group
CRE
Off-Market Multifamily Acquisition Brief
Taylor
taylor@thegroupcre.com
(310) 555-1234
17557 Camrose Dr
APN:
5584-062-059
Hollywood / Franklin Village
51
units
Built
1942
🔗 Copy share link
✓ Copied to clipboard
Headline Metrics
Opportunity Score
37 / 100
Assessed Value
$10.15M
Last Sale Price
$35.12M
Last Sale Date
Nov 2, 1998
Hold Years
27.6 yrs
Units
51
RSO Status
pending
ULA Exposure
None / Pending
Soft-Story
pending
Why This Deal
top signals — public record sources
Long hold
27.6 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
Owner entity: individual
Mary N. Johnson
Individual owner with long hold — estate succession risk elevated
📂 LA County Assessor — owner-of-record (assessment roll)
+10
Prop 13 equity gap
Assessed $10.15M vs ~$14.0M est. market (72% of comp)
At 72% of submarket comp, locked equity creates sell/refi pressure
📂 LA County Assessor 2024 roll — annual assessed value (data.lacounty.gov)
+5
Ownership
LA County Assessor — owner of record
Current Owner
Mary N. Johnson
individual
Held
27.6 years
(since 1998)
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
$15.22M
max(AV × 1.5 = $$15.22M, submarket $/unit × units = $$14.03M)
ULA Tier
Tier 2 — $10.3M+ (5.5%)
ULA Tax Exposure
$837K
Source:
Measure ULA
· Ordinance 187382, Apr 2023. Paid by seller at close.
📊 Implied Cap Rate
Rent basis
submarket median rent
GSI (annual)
$1.19M
NOI (5.0% vacancy, 35.0% opex)
$737K
At AV
(Prop-13 — understated)
7.3%
$10.15M AV
At Market
(comp-adjusted)
5.3%
$14.03M 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 · Hollywood / Franklin Village submarket
No comps within Hollywood / Franklin Village 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