FORMALIZED DUE DILIGENCE PROCESS 
Sponsors

The team at our affiliated broker-dealer, RM Securities, conducts diligence on of the issuer, including detailed background checks, criminal checks, bad actor checks, and reference checks on sponsors. In addition to screening for any criminal background, we may also turn down sponsors due to poor reference checks, even if the background and criminal checks are satisfactory.

Escrow accounts

We require unaffiliated sponsors to use an unaffiliated third-party escrow agent.* When an investor makes an investment with such sponsors using the RealtyMogul platform, the investor’s money is transferred directly into a third-party escrow account. All closing conditions in connection with a sponsor’s contingency offering need to be met before the third-party escrow agent will approve releasing investor funds to the issuer or general partner. For example, if an issuer or general partner plans to use funds for a real estate acquisition that does not ultimately transact, the third-party escrow agent will not transfer investor funds to the issuer or general partner, and funds will be returned to investors.

* Unless otherwise disclosed, escrow accounts are not required for some investments that accommodate 1031 investments where the property is already acquired.

Boots on the ground

Our processes typically includes visiting certain properties (or a subset of properties if it's a fund) to confirm the real estate is what and where the real estate is supposed to be. For certain properties that accommodate 1031 exchange investments, the team will review third-party prepared due diligence reports in lieu of a site visit.

Detailed Checklists

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Confidentiality Agreement
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Open for pledging
Estimated Hold Period 20 Months
Estimated First Distribution 4/2026
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931 1st Street
Offered By
TriWest Development
Investment Strategy Development
Investment Type Equity
Minimum Investment 35000
Overview
931 1st Street is a luxury single-family home development opportunity in the prime Hill Section neighborhood of Manhattan Beach, CA. Located within coastal Los Angeles, the Property offers a rare combination of clear ocean views of Palos Verdes and Catalina Island and an oversized flat lot totaling 9,595 SF.
Investment Highlights
Experienced Sponsor with a Strong Track Record: TriWest Development LLC is the largest home builder in Manhattan Beach / Hermosa Beach, completing 120+ successful transactions in the South Bay, and has 18 projects currently under construction in Manhattan Beach. The Sponsor has an extensive track record of over 200 properties successfully purchased, built, and sold totaling over $1.5B in transactions. TriWest Development has an extensive broker network with significant "off-market" deal flow.
Strong Submarket and Affluent Population Base: Manhattan Beach is an affluent coastal community boasting some of the highest price per square foot sales in California and an average household income of $280,470. The area consistently ranks as having the highest-rated schools, ranking in the top 1.5% of best-performing school districts in the country, according to Niche. The submarket is known as being a recession-resistant market with perpetual demand & limited inventory.
Prime Location: 931 1st Street is located in the Hill Section of Manhattan Beach, which is made up primarily of newer homes on large lots, and many with ocean views. The Property is a 15-minute walk to the beach and a 20-minute walk to downtown Manhattan Beach. It's also located just 5 miles south of Los Angeles International Airport.
Unique Property: The Property has an impressive combination of an oversized flat lot (9,595 SF) situated on top of a hill, allowing the Property to showcase clear ocean views of Palos Verdes and Catalina Island. The views were further improved recently due to the removal of above-ground power lines.
Top-of-the-Line Design: The Sponsor has approved plans for a 6-bed/8-bath, 3-story luxury home totaling 7,750 SF in a modern farmhouse design. The Property will include a basement, golf simulator, gym, wine cellar, media room, pool, cabana, and 4-car garage.
Vertically Integrated Sponsorship: Vertically integrated construction execution through the Sponsor's partnership with Pillar Building Group. Pillar is a leading luxury custom home builder in the Los Angeles area.
20-Month Project Time Frame: The Project is ready to go as the Sponsor has approved plans from the city. Based on their experience, the Sponsor expects the Property to be built and sold within 20 months. Of the Manhattan Beach luxury builds that TriWest has completed, 65% have been pre-sold within 6 months of going vertical.
Management
Cumulative Distributions

TriWest Development

TriWest Development is a residential real estate investment and development company focused on value-add properties in Los Angeles County. TWD invests in prime coastal locations with strong fundamentals, established markets, and proven demand. The firm has purchased, built, and sold over 200 properties since inception with a strong track record of success. TWD’s current portfolio consists of premier real estate with a value of over $300MM. TriWest Development has a strong focus on the South Bay and is the largest home builder in Manhattan Beach / Hermosa Beach.

https://triwestdevelopment.com/triwest-development/
  • Omer Ivanir
    Managing Partner
  • Blake Overend
    Managing Partner
  • Bryce Overend
    Managing Partner
  • Andrew Wilkey
    Director of Acquisitions
Omer Ivanir
Managing Partner

Omer Ivanir is a co-founder and managing partner of TriWest Development. Omer focuses on deal evaluation, acquisition, financing, and investor relations for TriWest Development. Omer has been in real estate finance and development for thirteen years with over $1.5BN in transactions for various real estate projects. He graduated from the University of Southern California with a BS in business and a concentration in Real Estate Finance; Juris Doctor Cum Laude from Loyola Law School. Omer is a recreational pilot and enjoys traveling and surfing.

Blake Overend
Managing Partner

Blake Overend is a co-founder and managing partner of TriWest Development. Blake runs operations for TriWest Development and focuses on the evaluation, acquisition, renovation, and resale of distressed residential real estate properties. Blake has over 13 years of experience in buying and selling distressed residential properties in Los Angeles County and has overseen over 200+ transactions valued at more than $1.5BN. Blake graduated from the University of Southern California with a BS in Business and a concentration in Real Estate Finance and Entrepreneurship.

Bryce Overend
Managing Partner

Bryce Overend is a co-founder and managing partner of TriWest Multifamily. Bryce's focus is on deal evaluation, financing, operations, and investor relations for TriWest Multifamily. Bryce is also a co-founder of TriWest Development, a leading Los Angeles-based development company focused on luxury single-family, assisted living, and co-living development opportunities. Bryce has been leading real estate financing and investment/development opportunities for ten years with over $1.5BN in transactions for various real estate projects. He graduated from the University of Southern California with a BS in business and a concentration in Corporate and Real Estate Finance.

Andrew Wilkey
Director of Acquisitions

Andrew Wilkey is the director of acquisitions at TriWest Development. Andrew focuses on deal evaluation, deal sourcing, and financing for Single Family Development and Multifamily Acquisitions. He began his career at Cushman Wakefield at the Transamerica Pyramid building in San Francisco working operations, and in 2015 became a sales broker in Los Angeles. To date, Andrew has brokered over $50MM+ worth of transactions and led over $400MM worth of single-family and multifamily acquisitions. He graduated with a degree in Finance from San Francisco State University with a concentration in commercial real estate.

Track Record

Please see the following link for TriWest Development's Track Record-Selected Projects(1).

(1) The provided track record represents the experience that the Sponsor, TriWest Development, has acquired for purposes of ground-up new construction homes. The remaining portion of the Sponsor's ~$1.5 Billion track record since inception includes rehab and multifamily transactions.

(2) The above bios and track record were provided by TriWest Development and have not been independently verified by RealtyMogul.

Comparables

Sales Comparables

Property Address City Bed / Bath Bldg Size Lot Size Year Built Sale Price Date Sold Price/SqFt Notes
931 1st Street Manhattan Beach 6 Bed / 8 Bath 7,750 SF 9,595 SF 2025 $17,000,000 SUBJECT $2,194 SUBJECT PROPERTY - Ocean Views, Flat Lot, Premier Street
1001 1st Street(1) Manhattan Beach 6 Bed / 9 Bath 9,479 SF 9,370 SF 2021 $24,995,000 ACTIVE $2,637 ACTIVE - Same Street, One Block East, Superior Views, Pool In Front Yard, Undesirable Floorplan
809 Highview Ave Manhattan Beach 5 Bed / 6 Bath 8,137 SF 13,939 SF 2012 $20,999,999 Sep-22 $2,580 Built ~12 Yrs Ago, Larger Lot, Superior Views
100 N Dianthus Street(1) Manhattan Beach 6 Bed / 9 Bath 8,777 SF 9,370 SF 2021 $19,598,500 Dec-21 $2,232 Same Street, One Block East, Superior Views, Rehab Project, Pool in Front Yard, Undesirable Floorplan
934 1st Street Manhattan Beach 6 Bed / 9 Bath 6,874 SF 10,160 SF 2019 $16,850,000 ACTIVE $2,451 ACTIVE - Across the Street, Build ~4 Yrs Ago, Smaller Home
310 John Street Manhattan Beach 3 Bed / 4 Bath 5,097 SF 9,979 SF 1994 $11,200,000 May-21 $2,197 Built ~30 Yrs Ago, Sloped Lot, Sold 3 Yrs Ago
818 8th Street Manhattan Beach 5 Bed / 6 Bath 6,393 SF 9,949 SF 2000 $12,738,290 Jul-21 $1,992 Built ~23 Yrs Ago, Smaller Home, Sold 3 Yrs Ago
612 John Street Manhattan Beach 6 Bed / 8 Bath 7,398 SF 9,983 SF 2000 $12,850,000 Aug-18 $1,736 Built ~23 Yrs Ago, Sloped Lot, Sold 5 Yrs Ago
818 18th Street Manhattan Beach 5 Bed / 6 Bath 4,500 SF 10,395 SF 2025 $12,500,000 PRESOLD $2,777 TriWest Build, Tree Section, No Views, Smaller Home, Presold with Forward Sale Contract
704 Pacific Ave Manhattan Beach 6 Bed / 7 Bath 5,214 SF 8,962 SF 1997 $11,000,000 Dec-20 $2,109 Built ~26 Yrs Ago, Sloped Lot, Smaller Home, Sold 4 Years Ago
817 Pacific Ave Manhattan Beach 5 Bed / 6 Bath 4,300 SF 6,245 SF 2024 $10,500,000 PRESOLD $2,441 TriWest Build, Smaller Lot, Smaller Home, Inferior Views, Presold with Forward Sale Contract
501 John Street Manhattan Beach 5 Bed / 8 Bath 5,725 SF 10,620 SF 1987 $10,500,000 May-23 LAND LAND – Sold to Jared Goff, will combine with 819 5th & build new
819 5th Street Manhattan Beach 4 Bed / 4 Bath 3,532 SF 9,981 SF 1952 $8,575,000 Nov-23 LAND LAND – Sold to Jared Goff, will combine with 501 John & build new
856 5th Street Manhattan Beach 3 Bed / 4 Bath 4,400 SF 5,704 SF 1980 $5,244,000 Mar-24 LAND LAND - Sold to Owner/Builder, Smaller Lot, Inferior Views 
522 24th Place Hermosa Beach 5 Bed / 7 Bath 7,200 SF 12,196 SF 2021 $15,750,000 Apr-23 $2,187 Hermosa - Inferior Location, Larger Lot
2127 Power Street Hermosa Beach 5 Bed / 6 Bath 5,230 SF 21,344 SF 2016 $12,400,000 Sep-23 $2,370 Hermosa - Inferior Location, Larger Lot, Smaller Home
2900 Tennyson Place Hermosa Beach 3 Bed / 4 Bath 2,785 SF 14,810 SF 1946 $15,350,000 Jan-24 LAND Hermosa – LAND, Larger Lot, Sold to Adjacent Neighbor
              Average w/o Subject Property $2,309  

(1) Same property as house is located on a corner lot and both 1001 1st Street and 100 N Dianthus Street have been used as its address.

Cap Stack
Sources & Uses

Total Capitalization

Sources of Funds $ Amount
Senior Loan $7,475,000
LP Equity(1) $4,265,724
GP Equity(2) $581,690
Total Sources of Funds $12,322,414
   
Uses of Funds $ Amount
Purchase Price $5,900,000
Project Fees(3) $343,000
Soft Costs $335,167
Financing Costs $1,094,247
Hard Costs(4) $4,650,000
Total Uses of Funds $12,322,414

(1) $630,000 of the LP Equity will be coming from the General Contractor principals.

(2) The Sponsor’s equity contribution may consist of friends and family equity and equity from funds controlled by the Sponsor.

(3) Payable to the Sponsor.

(4) Includes a 10% contingency.

Debt Assumptions

The expected terms of the debt financing are as follows:

Senior Debt

  • Lender: Genesis Capital, LLC
  • Loan Amount: $7,475,000
  • Loan-To-Cost (LTC): 61%
  • Loan Type: Construction Loan
  • Interest Rate TypeFloating
  • Interest Rate: 5.00% + 30-Day SOFR (Floor Rate of 9.82968%)
  • Interest-Only Period: 24 Months
  • Loan Term: 24 Months
  • Recourse Description: Completion Guarantee
  • Extension Options: Up to two extensions may be available at the sole discretion of Lender
  • Prepayment Terms: No terms, no penalty on prepayment

(1) A substantial portion of the total acquisition for the Property will be paid with borrowed funds, i.e., debt.  Please carefully review the Disclaimers section below for additional information concerning the Sponsor's use of debt. 

Distributions

TriWest Development intends to make distributions as follows:

  1. Pari-passu all cash flow available for distribution to the Equity Investors until the Equity Investors receive a Preferred Return of 8.0% IRR;
  2. 60% / 40% (60% to Equity Investors / 40% to Promoted/Carried Interest) of all cash flow available for distribution thereafter.

TriWest Development intends to make distributions to investors after the payment of the company's liabilities (loan payments, operating expenses, and other fees as more specifically set forth in the LLC agreements, in addition to any member loans or returns due on member loan).

Distributions are expected to start in April 2026 with the sale of the Property. Distributions are at the discretion of TriWest Development, who may decide to delay distributions for any reason, including maintenance or capital reserves.

TriWest Development will receive a promoted/carried interest as indicated above.

Fees

You will pay certain fees and compensation over the life of the transaction; please refer to TriWest Development's materials for details. The following fees and compensation will be paid(1)(2):

One-Time Fees:
Type of Fee Amount of Fee Received By Paid From
Acquisition Fee 1.00% of Purchase Price TriWest Development Capitalization
Guarantee Fee 1.00% of Loan Proceeds TriWest Development Capitalization
Platform Fee Flat One-Time Fee of $15,000 RM Securities, LLC Capitalized Equity Contribution
Placement Fee(2) 4.00% of the Raised Amount up to $2 million, plus 3.50% of the Raised Amount in excess of $2 million. RM Securities, LLC

Capitalized Equity Contribution

       
Recurring Fees:
Type of Fee Amount of Fee Received By Paid From
Construction Management Fee 4.50% of Hard Costs TriWest Development Construction Expenditure Budget
Administration Solution Licensing Fee(2) 1.00% per annum of the aggregate capital contributions of the RM platform investor for whom RM Technologies provides the Administration Solution. RM Securities, LLC Capitalized Equity Contribution

(1) Fees may be deferred to reduce impact to investor distributions.

(2) For more information on the fees paid to RM Securities and its affiliates or any other fees you will pay in connection with Sponsor’s offering, please carefully review the Sponsor’s Investment Documents. Please also carefully review RM Securities’ Form CRSRegulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

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The following offering documents have been prepared and are being delivered by the Sponsor of this investment opportunity, and not by RM Securities, LLC. RM Securities, LLC and its associated persons did not assist in preparing, do not explicitly or implicitly adopt or endorse, and are not otherwise responsible for, the Sponsors offering documents posted below or any content therein.
RM Securities, LLC and its Affiliates Compensation

RM Securities, LLC, its registered representatives, affiliates, associated persons, and personnel of its affiliates who may also be associated with it, including our associated persons and personnel of our affiliates who are also be associated with RM Securities, LLC (it (“RM Securities,” “we,” “our,” or “us”) will receive fees, expense reimbursements, and other compensation (“Fees”) from the issuer of this investment offering, its sponsor, or an affiliate thereof (“Sponsor”), or otherwise in connection with Sponsor’s offering. The Fees paid to us are in addition to other fees you will pay to Sponsor or in connection with Sponsor’s investment offering. You will pay Fees to Sponsor, either directly or indirectly as an investor in the Sponsor’s offering. Sponsor will use the Fees you pay, as well as funds you invest in the relevant offering, to compensate us. The Fees paid to us will directly or indirectly be borne by you as the investor (typically, but not always, in the form of an expense of the Sponsor’s offering in which you invest) because such Fees will reduce the proceeds available for distribution to you and reduce the amount you earn over time.

For more information on the Fees paid to us, or any other Fees you will pay in connection with Sponsor’s offering, please carefully review the Sponsor’s Investment Documents. Please also carefully review RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

No Approval, Opinion or Representation, or Warranty by RM Securities, LLC

Sponsor has provided, approved, and is solely responsible in all aspects for the information on this webpage (“Page”), including Sponsor’s offering documentation, which may include without limitation the Private Placement Memorandum, Operating or Limited Partnership Agreement, Subscription Agreement, the Project Summary and all exhibits and other documents attached thereto or referenced therein (collectively, the “Investment Documents”). The Investment Documents linked on this page have been prepared and posted by Sponsor, and not by RM Securities. We did not assist in preparing, do not adopt or endorse, and we are not otherwise responsible for, the Sponsor’s Investment Documents. We make no representations or warranties as to the accuracy of information on this Page or in the Sponsor’s Investment Documents and we accept no liability therefor. No part of the information on this Page or in the Sponsor’s Investment Documents is intended to be binding on us.

Sponsor’s Information Qualified by Investment Documents

The information on this Page is qualified in its entirety by reference to the more complete information about the offering contained in the Sponsor’s Investment Documents. The information on this Page is not complete and subject to change at the Sponsor’s discretion at any time up to the closing date. The Sponsor’s Investment Documents and supplements thereto contain important information about the Sponsor’s offering including relevant investment objectives, the business plan, risks, charges, expenses, and other information, which you should consider carefully before investing. The information on this Page should not be used as a basis for an investor’s decision to invest.

Risk of Investment

This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor’s assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor’s business plans (“Assumptions”) will be true or that actual performance will bear any relation to Sponsor’s Assumptions, and no guarantee or representation is made that Sponsor’s Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor’s Assumptions should not be relied upon as the primary basis for your decision to invest.

No Reliance on Forward-Looking Statements; Sponsor Assumptions

Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor’s Investment Documents, which you should carefully review. Neither RM Securities nor Sponsor are obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor’s forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor’s investment objectives, detailing Sponsor’s anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor’s forward-looking statements as a basis to invest.

Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor’s Assumptions or forward-looking statements.

No Reliance on Past Performance

Any description of past performance is not a reliable indicator of future performance and should not be relied upon as the primary basis to invest.

Sponsor’s Use of Debt

A substantial portion of the total cost of the real estate asset acquired by the Sponsor with investor funds (“Property”) will be paid with borrowed funds, i.e., debt. Sponsor’s estimated rates and terms of the debt financing are subject to lender approval, and there is no assurance that the Sponsor will secure debt at the rates and terms presented on this Page or in the Sponsor’s Investment Documents, or at all. The use of borrowed money to acquire real estate is referred to as leveraging, which can amplify losses and could result in lender foreclosure. In addition, if the debt includes a variable (or “floating”) interest rate, the total amount of interest paid over the term of the debt will fluctuate and can increase. As a result, Sponsor’s use of debt can result in a loss of some or all of your investment.

Sponsor’s Offering is Not Registered

Sponsor’s securities offering will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act (“Private Placement”). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for “Accredited Investors,” as that term is defined in Rule 501(a) under the Securities Act.

No Investment Advice

Nothing on this Page should be regarded as investment advice (either with respect to a particular security or regarding an overall investment strategy), a recommendation, an offer to sell, or a solicitation of or an offer to buy any security. Advice from a securities professional is strongly advised to understand and assess the risks associated with real estate or private placement investments. For additional information on RM Securities’ involvement in this offering, please carefully review the Sponsor’s Investment Documents, and RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

1031 Exchange Risk

Internal Revenue Code Section 1031 (“Section 1031”) contains complex tax concepts and certain tax consequences may vary depending on the individual circumstances of each investor. RM Securities and its affiliates make no representation or warranty of any kind with respect to the tax consequences of your investment or that the IRS will not challenge any such treatment. You should consult with and rely on your own tax advisor about the tax aspects with respect to your particular circumstances.

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