Landa App 3 LLC

07/05/2024 | Press release | Distributed by Public on 07/05/2024 09:19

Current Report under Regulation A Form 1 U

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): July 1, 2024

LANDA APP 3 LLC

(Exact name of issuer as specified in its charter)

Delaware 87-2881696
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)

20 W. 22nd Street

New York, NY 10010

(Full mailing address of principal executive offices)

646-905-0931

(Issuer's telephone number, including area code)

Membership Interests:
Landa App 3 LLC - 132 Cornelia Street Brooklyn NY LLC Landa App 3 LLC - 1363 Hancock 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
Landa App 3 LLC - 6696 Mableton Parkway SE Mableton GA LLC Landa App 3 LLC - 996 Greenwood Avenue NE Atlanta GA LLC

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

Distribution Declaration

On July 1, 2024, Landa Holdings, Inc. (the "Manager"), as manager to each of the following series (each a "Series" and collectively the "Series") of the Company, declared and paid a cash distribution (the "Distribution") for such Series for the month of June 2024 (the "Distribution Period"), in the amount set forth in the table below.

For Shares purchased during the Distribution Period, holders of shares in each Series ("Shares") will be eligible to receive distributions (rounded) calculated on a pro-rata basis, based on the number of days in the applicable Distribution Period that such holder owned such Shares.

Series Cash
Available for
Distribution

Distribution per Share (1)

Landa App 3 LLC - 132 Cornelia Street Brooklyn NY LLC $ 2,312.5 $ 0.031
Landa App 3 LLC - 1363 Hancock Street Brooklyn NY LLC (2) (5) $ 2,430.62 $ 0.035
Landa App 3 LLC - 24 Ditmars Street Brooklyn NY LLC (3) $ 0 $ 0
Landa App 3 LLC - 368 Irwin Street NE Atlanta GA LLC (4) (5) (6) $ 500 $ 0.005
Landa App 3 LLC - 6696 Mableton Parkway SE Mableton GA LLC $ 0 $ 0
Landa App 3 LLC - 996 Greenwood Avenue NE Atlanta GA LLC $ 0 $ 0

(1) Distributions by this Series were made based on the total Shares outstanding as of July 1, 2024.

(2) The tenant occupying this Property has not paid their rent, or has only paid a portion of their rent, for the month of June.

(3) The tenant occupying this Property has not paid their rent, or has only paid a portion of their rent, for the month of June. The Manager has determined that this Series does not have sufficient amounts (including any amounts in its Reserves) and will not be able to pay a Distribution to the holders of this Series' Shares for this Distribution Period.

(4) The tenant occupying Unit 3 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 will not earn any income and the Manager will not earn its Management Fee until the Manager enters into a new Lease Agreement with a tenant for this Property.

(5) This Property has one or more apartment units that are currently vacant. This Property will not earn any income and the Manager will not earn its Management Fee until the Manager enters into a new Lease Agreement with a tenant for this Property.

(6) The tenant occupying this Property has not paid their rent, or has only paid a portion of their rent, for the month of June. The Manager, acting in its sole discretion, is using a portion of its Reserve (as defined in the Offering Circular) to pay each of the holders of this Series' Share a Distribution.

For any additional information regarding the Shares discussed herein, shareholders should refer to the Offering Circulars, available on the SEC's website at www.sec.gov

Further information detailing the calculation of cash available for distribution for each Series is available on the Landa Mobile App, which is available on iOS and Android devices.

1

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: July 5, 2024 LANDA APP 3 LLC
By: Landa Holdings, Inc.,
its Manager
By: /s/ Yishai Cohen
Name: Yishai Cohen
Title: Chairman, Chief Executive Officer, and
President

2

Exhibit A

Master Series Table

Series Offering
Status
Qualification
Date
Closing
Date
Total
Number of
Shares
Sold
Total
Amount
Raised($)(1)
Monthly
Rental
Income($)(2)
Monthly
Management
Fee (%)
1. Landa Series 132 Cornelia Street Brooklyn NY LLC (3) open 06/28/2022 07/02/2024

75,656

1,438,497.46

9,382.62 5 %
2. Landa Series 1363 Hancock Street Brooklyn NY LLC (3) open 06/28/2022 07/02/2024

69,134

1,891,919.66

14,722.5 5 %
3. Landa Series 24 Ditmars Street Brooklyn NY LLC (3) open 06/28/2022 07/02/2024

86,294

1,738,329.64

14,215 5 %
4. Landa Series 368 Irwin Street NE Atlanta GA LLC (4) closed 06/28/2022 11/13/2023

100,000

1,196,952

2,000 8 %
5. Landa Series 6696 Mableton Parkway SE Mableton GA LLC (4) closed 06/28/2022 12/15/2022

100,000

505,527

4,488.75 8 %
6. Landa Series 996 Greenwood Avenue NE Atlanta GA LLC (4) open 06/28/2022 07/02/2024

25,360

644,689.24

5,850 8 %
(1) Reflected as of up to two (2) business days prior to the date of this Form 1-U. Each Series is offering up to a maximum of 100,000 Shares

(2) The Monthly Rental Income amount reflects the monthly rental payment due under the applicable lease agreement for the Property.

(3) The Monthly Management Fee payable by each Series is expected to equal five percent (5%) of the Gross Monthly Rent.

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