Range of Value — Cap Rate Sensitivity
Prepared for Christine Luu | 4307 Whitsett Ave, Studio City, CA 91604
16 Units | Built 1985 | Not RSO | 100% Occupied | EGI: $542,802 | GSR: $552,780
±$500,000 range in $100,000 steps | Property tax and insurance scale with price at each level
| Sale Price |
Price / Unit |
Price / SF |
GRM |
Cap Rate |
| $6,200,000 | $387,500 | $370.81 | 11.22× | 5.67% |
| $6,300,000 | $393,750 | $376.79 | 11.40× | 5.55% |
| $6,400,000 | $400,000 | $382.78 | 11.58× | 5.44% |
| $6,500,000 | $406,250 | $388.76 | 11.76× | 5.34% |
| $6,600,000 | $412,500 | $394.74 | 11.94× | 5.23% |
| $6,700,000 | $418,750 | $400.72 | 12.12× | 5.13% |
| $6,800,000 | $425,000 | $406.70 | 12.30× | 5.03% |
| $6,900,000 | $431,250 | $412.68 | 12.48× | 4.94% |
| $7,000,000 | $437,500 | $418.66 | 12.66× | 4.85% |
| $7,100,000 | $443,750 | $424.64 | 12.84× | 4.76% |
| $7,200,000 | $450,000 | $430.62 | 13.03× | 4.67% |
At $6,700,000, the property trades at a 5.13% cap on buyer-underwritten expenses — consistent with recent Studio City non-RSO transactions. At $418,750/unit, the subject carries a modest premium to the most comparable recent sale (Valleyheart Dr, $413,889/unit, Oct 2024), supported by its non-RSO status and 100% occupancy.
GRM = Price ÷ GSR ($552,780). Cap Rate = NOI ÷ Price. NOI = EGI ($542,802) minus property tax (Price × 1.25%) minus insurance (Price × 0.237%) minus fixed OpEx ($99,312). $/SF based on 16,720 SF. PPU based on 16 units.
Morgan Wetmore | Associate Investments | (818) 212-2724 | Morgan.Wetmore@marcusmillichap.com | CA 02209935
Glen Scher | Senior Managing Director | (818) 212-2808 | Glen.Scher@marcusmillichap.com | CA 01962976
Filip Niculete | Senior Managing Director | (818) 212-2748 | Filip.Niculete@marcusmillichap.com | CA 01905352