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
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. |