1-U 1 ea169810-1u_landaapp3.htm CURRENT REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 1-U

 

CURRENT REPORT PURSUANT TO REGULATION A

 

Date of Report (Date of earliest event reported): November 30 2022

 

LANDA APP 3 LLC

(Exact name of issuer as specified in its charter)

 

Delaware   87-1767314
(State or other jurisdiction of
incorporation or organization)

 

 

 (I.R.S. Employer
Identification No.)

 

6 W. 18th Street

New York, NY 10011

(Full mailing address of principal executive offices)

 

646-905-0931

(Issuer’s telephone number, including area code)

 

Membership Interests:

 

Landa App 3 LLC - 6696 Mableton Parkway SE Mableton GA LLC   Landa App 3 LLC - 1363 Hancock Street Brooklyn NY LLC  
Landa App 3 LLC – 996 Greenwood Ave NE Atlanta GA LLC   Landa App 3 LLC - 132 Cornelia Street Brooklyn NY LLC   
Landa App 3 LLC – 24 Ditmars Street Brooklyn NY LLC  Landa App 3 LLC - 368 Irwin Street NE Atlanta GA LLC  

 

(Title of each class of securities issued pursuant to Regulation A) 

 

 

 

 

 

 

Item 9. Other Events

 

Lease Updates

 

New Lease Agreements; Renewals

 

The following Series either entered into a lease agreement (“Lease Agreement”) with a new tenant or renewed with an existing tenant for its underlying Property. See the Master Series Table included as Exhibit A hereto for updated leasing status.

 

Series    Address 
Landa App 3 LLC - 368 Irwin Street NE Atlanta GA LLC     68 Irwin Street NE, Unit #4, Atlanta, GA 30312
Landa App 3 LLC- 24 Ditmars Street Brooklyn NY LLC   24 Ditmars Street, Unit #1 Brooklyn NY 11221

 

Property Vacancies; Lease Non-Renewals

 

The following Series’ Property is either vacant or the tenant has not renewed. See the Master Series Table included as Exhibit A hereto for updated leasing status.

 

Series    Address 
     

 

1

 

 

EXHIBITS

 

The following exhibit is filed herewith:

 

Exhibit No.   Description
A   Master Series Table

 

2

 

 

SIGNATURE

 

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: December  7, 2022  
   
  LANDA APP 3 LLC
   
  By: Landa Holdings, Inc.,
    its Manager
     
  By: /s/ Yishai Cohen
  Name:  Yishai Cohen
  Title: Chairman, Chief Executive Officer, and President

 

 

3

 

 

Exhibit A

 

Master Series Table

 

   Series  Offering
Status		  Qualification
Date		  Closing
Date		   Total
Number of
Shares
Sold(1)		   Total
Amount
Raised(1)($)		   Monthly
Rental
Income(2)($)		   Monthly
Property
Tax($)		   Monthly
Insurance
Expense($)		   Monthly
Management
Fee*		 
1.  Landa Series 6696 Mableton Parkway  Closed  6/27/2022   

11/09/2022

    100,000    505,527    3,980    315    188        8%
2.  Landa Series 996 Greenwood Ave NE (4)  Open  6/27/2022   -    15,425    392,126.64    4,156    1,969    1,187    8%
3.  Landa Series 24 Ditmars Street  Open  6/27/2022   -    43,854    883,408.13    10,545    362(3)   289    5%
4.  Landa Series 1363 Hancock Street (5)  Open  6/27/2022   -    32,680    894,320.88    12,800    1,073(3)   570    5%
5.  Landa Series 132 Cornelia Street  Open  6/27/2022   -    40,816    776,063.18    9.003    491(3)   269    5%
6.  Landa Series 368 Irwin Street NE  Open  6/27/2022   -    55,026    442,093.48    8,671    226    212    8%

 

*The Monthly Management Fee payable by each Series is expected to equal eight percent (8%) of the Gross Monthly Rent.

 

(1)Reflected as of up to two (2) business days prior to the date of this Offering Circular. Each Series is offering up to a maximum of 100,000 Shares.

 

(2)The Monthly Rental Income amount reflects the aggregate monthly rental payment payable under the lease agreements or expected monthly rental amounts for apartment units included in the Property, assuming a 100% occupancy rate for the Property, determined as of the date of this Offering Circular. See “Description of the Properties” for more information.

 

(3)Taxes on this Property may be subject to review and adjustment on a semi-annual basis.

 

(4)This Property has one or more apartment units that are currently vacant. This Property may earn less income, or may not earn any income at all, and the Manager will not earn its Management Fee on such unleased apartment units until the Manager enters into a new lease agreement with a tenant for such units.

 

(5)The tenant occupying Unit #2F is in breach of his Lease Agreement for failure to pay rent. The Manager is currently working with the tenant to vacate the unit. This Property may earn less income, or may not earn any income at all, and the Manager will not earn its Management Fee on this apartment unit until the Manager enters into a new lease agreement with a tenant.