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3844 W 27TH STREET LOS ANGELES, CA 90018

FULLY ENTITLED LAND FOR 16-UNIT MULTIFAMILY BUILDING IN THRIVING WEST ADAMS/JEFFERSON PARK

ENTITLED LAND; NO DEMOLITION NEEDED*

AMENITY-RICH WALKABLE AREA

SITUATED IN PRIME SECTION OF TREND- SETTING WEST ADAMS

*Soon to be fully entitled with ready-to-issue permits

Capital Markets | Investment Properties For more information, please contact: Ed Matevosian Natalie Aghaei Lic. 01358783 Lic. 01939416 +1 818 502 6744 +1 310 948 2948 [email protected] [email protected] CBRE, INC. | 1 Affiliated Business Disclosure Disclaimer

CBRE, Inc. operates within a global family of companies with many subsidiaries and related This Memorandum contains select information pertaining to the Property and the Owner, entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses and does not purport to be all-inclusive or contain all or part of the information which including, but not limited to, brokerage services, property and facilities management, prospective investors may require to evaluate a purchase of the Property. The information valuation, investment fund management and development. At times different Affiliates, contained in this Memorandum has been obtained from sources believed to be reliable, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent but has not been verified for accuracy, completeness, or fitness for any particular purpose. clients who have competing interests in the same transaction. For example, Affiliates or All information is presented “as is” without representation or warranty of any kind. Such their clients may have or express an interest in the property described in this Memorandum information includes estimates based on forward-looking assumptions relating to the (the “Property”), and may be the successful bidder for the Property. Your receipt of this general economy, market conditions, competition and other factors which are subject to Memorandum constitutes your acknowledgement of that possibility and your agreement uncertainty and may not represent the current or future performance of the Property. All that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ references to acreages, square footages, and other measurements are approximations. interest or involvement in the sale or purchase of the Property. In all instances, however, This Memorandum describes certain documents, including leases and other materials, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ in summary form. These summaries may not be complete nor accurate descriptions of length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its the full agreements referenced. Additional information and an opportunity to inspect the Affiliates will conduct their respective businesses in a manner consistent with the law and Property may be made available to qualified prospective purchasers. You are advised to all fiduciary duties owed to their respective client(s). independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. Confidentiality Agreement The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a of interest or offers to purchase the Property, and/or to terminate discussions at any confidential Memorandum solely for your limited use and benefit in determining whether time with or without notice to you. All offers, counteroffers, and negotiations shall be you desire to express further interest in the acquisition of the Property, (ii) you will hold it in non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or the strictest confidence, (iii) you will not disclose it or its contents to any third party without obligation except as set forth in a fully executed, definitive purchase and sale agreement the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and delivered by the Owner. (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc. © 2017 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should If after reviewing this Memorandum, you have no further interest in purchasing the Property, conduct a careful, independent investigation of the property and verify all information. Any kindly return it to CBRE, Inc. reliance on this information is solely at your own risk.

CBRE, INC. | 1 BE A PART OF GROWING TABLE OF CONTENTS WEST ADAMS/ EXECUTIVE SUMMARY // 3 JEFFERSON PROPERTY OVERVIEW // 6 PARK: AREA OVERVIEW // 10 FINANCIALS & COMPARABLES // 20 A COMMUNITY IN CHANGE

CBRE, INC. | 2 CBRE, INC. | 2 EXECUTIVE SUMMARY

Proposed Rendering CBRE, INC. | 3 THE OPPORTUNITY

CBRE, Inc., as the exclusive advisor, is pleased to present the opportunity to purchase an entitled multifamily land site located in the trend-setting Los Angeles neighborhood of West Adams / Jefferson Park. This unique, shovel-ready opportunity allows the new owner to begin construction as soon as they wish in a market that is only headed upwards. In 2015, Curbed Los Angeles voted West Adams as neighborhood of the year. This project is fully entitled for 16 market rate units, which would be a tremendous addition to the dense, flourishing West Adams / Jefferson Park neighborhood. Given that a large area of West Adams / Jefferson Park has been designated historic, this is a very rare opportunity to build brand new product in a market that is lacking new multifamily construction. THE OFFERING # UNITS LAND IS PROPOSED NEW ADDRESS PRICE LOT SQ. FT. ± ENTITLED FOR BUILDING SQ. FT. ± Building Area: 16 Appx. 20,485.5 sf 12,355 per title 3844 W 27th Street, Los Angeles, CA 90018 $1,850,000 MARKET RATE UNITS Parking Area: 12,269 per survey Appx. 5490 sf

BE ONE OF THE SELECT FEW NEW APARTMENT BUILDINGS IN PRIME WEST ADAMS / JEFFERSON PARK CBRE, INC. | 4 PROPERTY highlights

SIGNIFICANT MARKET POTENTIAL FUTURE STABLE CASH-FLOW Ability to capitalize on a thriving and evolving This fully entitled land site is a great opportunity market to realize future property appreciation. for the new owner to build the 16-unit apartment building, enjoy the property’s future stable cash- flow, and realize the market value appreciation over time.

WALKABILITY / ACCESSIBILITY STRONG RENTAL DEMAND With a walk score of 72, the subject site is easily In 2016, within a one-mile radius of the property, accessible to numerous amenities. In addition, apartment vacancy ranged from 3.2% to 3.3%. the site is about 1 mile from the Expo / and about 2 miles from the Expo / Western Station.

CBRE, INC. | 5 PROPERTY OVERVIEW

CBRE, INC. | 6 PROPERTY OVERVIEW | REGIONAL MAP

CBRE, INC. | 7 PROPERTY OVERVIEW | LOCAL MAP

CBRE, INC. | 8 PROPERTY OVERVIEW | 3844 W 27TH STREET

PROPERTY INFO UNIT MIX

Address 3844 W 27th St, Los Angeles, CA 90018

APN 5051-015-002

FUTURE PROPOSED Building Area: Appx. 20,485.5 sf BUILDING SIZE Parking Area: Appx. 5490 sf ±12,355 SQ. FT. per title LOT SIZE ±12,269 SQ. FT. per survey

Parking 29 Parking Spaces

WATER Separately Metered

GAS/ELECTRIC Separately Metered 12 NUMBER OF UNITS 16 Market Rate Units ENTITLED 2 BED/ 2 BATH

FUTURE Building Features

Gated Entry and Parking

Storage

In-Unit Washer & Dryer 4 1 BED / 1 BATH Number of Parking Spaces: 29 Please reference full entitlements package for further details. Rooftop decks

UNIT Features

Patio / Balcony

Large Average Unit Sizes

CBRE, INC. | 9 AREA OVERVIEW

CBRE, INC. | 10 WEST ADAMS / JEFFERSON PARK MARKET OVERVIEW

Nestled between Culver City and , trendy West Adams / Jefferson Park / Jefferson Park is a highly-sought after neighborhood located in the city of Los Angeles, California. The West Adams submarket is approximately 1.48 square miles– averaging roughly 14,686 people per square mile places West Adams / Jefferson Park among the highest population densities in all of Los Angeles.

West Adams / Jefferson Park / Jefferson Park is one of the oldest neighborhoods in the city of Los Angeles, with most of its buildings developed between 1880 and 1925. West Adams / Jefferson Park is known for the once-upper-crust district of old Victorian mansions. This neighborhood has been through a large gentrification in the past few years. With the upward real estate demand growth and prices, many of these old mansions have been given the historic designation. With this gentrification comes the ever-changing demographics of West Adams / Jefferson Park. Single family residences are quickly snapped off the market by businessmen/businesswomen who work in Downtown Los Angeles or on the Westside, artists, writers, performers, teachers, or any individual who is looking to live in Los Angeles and have access to both the Westside and Downtown Los Angeles.

TRANSPORTATION:

The Expo line runs from Santa Monica through Westwood, Culver City, West Adams / Jefferson Park, USC area, all the way to Downtown Los Angeles’ 7th St & Figueroa station. The main two stations located in West Adams / Jefferson Park are the Expo / Crenshaw station and the Expo / Western station. The Expo line connects with numerous other Metro stops once it reaches Downtown Los Angeles, giving West Adams / Jefferson Park residents the convenience of traveling throughout Los Angeles County.

CBRE, INC. | 11 Saturday, Sunday and Holidays Saturday, Sunday and Holidays

Effective Dec 11 2016 Metro Expo Line Metro Expo Line

Eastbound to Los Angeles (Approximate Times) Westbound to Santa Monica (Approximate Times) SANTA SANTA MONICA WEST ANGELES LOS CENTURY CITY CITY CULVER WEST ADAMS JEFFERSON PARK EXPOSITION PARK DOWNTOWN ANGELES LOS DOWNTOWN ANGELES LOS EXPOSITION PARK JEFFERSON PARK WEST ADAMS CITY CULVER CENTURY CITY SANTA MONICA Downtown Santa Monica 17th St/SMC 26th St/ Bergamot Expo/Bundy Expo/Sepulveda Westwood/ Park Rancho Palms City Culver La Cienega/ Jefferson Expo/La Brea Farmdale Expo/Crenshaw Expo/Western Expo/Vermont Expo Park/USC Jefferson/USC Street 23rd Pico 7th Street/ Center Metro 7th Street/ Center Metro Pico Street 23rd Jefferson/USC Expo Park/USC Expo/Vermont Expo/Western Expo/Crenshaw Farmdale Expo/La Brea La Cienega/ Jefferson City Culver Palms Westwood/ Park Rancho Expo/Sepulveda Expo/Bundy 26th St/ Bergamot 17th St/SMC Downtown Santa Monica — — — 3:26A 3:29A 3:31A 3:35A 3:37A 3:39A 3:41A 3:42A 3:44A 3:48A 3:51A 3:53A 3:55A 3:58A 4:04A 4:06A 4:01A 4:04A 4:08A 4:11A 4:13A 4:15A 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12:42 12:46 12:47 12:49 12:52 12:54 12:58 1:00 1:02 1:04 1:05 1:07 1:11 1:14 1:16 1:18 1:21 1:27 1:29 1:25 1:28 1:32 1:35 1:37 1:39 1:42 1:46 1:48 1:50 1:52 1:55 1:57 2:01 2:03 2:06 2:08 2:09 2:13 12:54 12:58 12:59 1:01 1:04 1:06 1:10 1:12 1:14 1:16 1:17 1:19 1:23 1:26 1:28 1:30 1:33 1:39 1:41 1:37 1:40 1:44 1:47 1:49 1:51 1:54 1:58 2:00 2:02 2:04 2:07 2:09 2:13 2:15 2:18 2:20 2:21 2:25 1:06 1:10 1:11 1:13 1:16 1:18 1:22 1:24 1:26 1:28 1:29 1:31 1:35 1:38 1:40 1:42 1:45 1:51 1:53 1:49 1:52 1:56 1:59 2:01 2:03 2:06 2:10 2:12 2:14 2:16 2:19 2:21 2:25 2:27 2:30 2:32 2:33 2:37 1:18 1:22 1:23 1:25 1:28 1:30 1:34 1:36 1:38 1:40 1:41 1:43 1:47 1:50 1:52 1:54 1:57 2:03 2:05 2:01 2:04 2:08 2:11 2:13 2:15 2:18 2:22 2:24 2:26 2:28 2:31 2:33 2:37 2:39 2:42 2:44 2:45 2:49 1:30 1:34 1:35 1:37 1:40 1:42 1:46 1:48 1:50 1:52 1:53 1:55 1:59 2:02 2:04 2:06 2:09 2:15 2:17 2:13 2:16 2:20 2:23 2:25 2:27 2:30 2:34 2:36 2:38 2:40 2:43 2:45 2:49 2:51 2:54 2:56 2:57 3:01 1:42 1:46 1:47 1:49 1:52 1:54 1:58 2:00 2:02 2:04 2:05 2:07 2:11 2:14 2:16 2:18 2:21 2:27 2:29 2:25 2:28 2:32 2:35 2:37 2:39 2:42 2:46 2:48 2:50 2:52 2:55 2:57 3:01 3:03 3:06 3:08 3:09 3:13 1:54 1:58 1:59 2:01 2:04 2:06 2:10 2:12 2:14 2:16 2:17 2:19 2:23 2:26 2:28 2:30 2:33 2:39 2:41 2:37 2:40 2:44 2:47 2:49 2:51 2:54 2:58 3:00 3:02 3:04 3:07 3:09 3:13 3:15 3:18 3:20 3:21 3:25 2:06 2:10 2:11 2:13 2:16 2:18 2:22 2:24 2:26 2:28 2:29 2:31 2:35 2:38 2:40 2:42 2:45 2:51 2:53 2:49 2:52 2:56 2:59 3:01 3:03 3:06 3:10 3:12 3:14 3:16 3:19 3:21 3:25 3:27 3:30 3:32 3:33 3:37 2:18 2:22 2:23 2:25 2:28 2:30 2:34 2:36 2:38 2:40 2:41 2:43 2:47 2:50 2:52 2:54 2:57 3:03 3:05 3:01 3:04 3:08 3:11 3:13 3:15 3:18 3:22 3:24 3:26 3:28 3:31 3:33 3:37 3:39 3:42 3:44 3:45 3:49 2:30 2:34 2:35 2:37 2:40 2:42 2:46 2:48 2:50 2:52 2:53 2:55 2:59 3:02 3:04 3:06 3:09 3:15 3:17 3:13 3:16 3:20 3:23 3:25 3:27 3:30 3:34 3:36 3:38 3:40 3:43 3:45 3:49 3:51 3:54 3:56 3:57 4:01 2:42 2:46 2:47 2:49 2:52 2:54 2:58 3:00 3:02 3:04 3:05 3:07 3:11 3:14 3:16 3:18 3:21 3:27 3:29 3:25 3:28 3:32 3:35 3:37 3:39 3:42 3:46 3:48 3:50 3:52 3:55 3:57 4:01 4:03 4:06 4:08 4:09 4:13 2:54 2:58 2:59 3:01 3:04 3:06 3:10 3:12 3:14 3:16 3:17 3:19 3:23 3:26 3:28 3:30 3:33 3:39 3:41 3:37 3:40 3:44 3:47 3:49 3:51 3:54 3:58 4:00 4:02 4:04 4:07 4:09 4:13 4:15 4:18 4:20 4:21 4:25 3:06 3:10 3:11 3:13 3:16 3:18 3:22 3:24 3:26 3:28 3:29 3:31 3:35 3:38 3:40 3:42 3:45 3:51 3:53 3:49 3:52 3:56 3:59 4:01 4:03 4:06 4:10 4:12 4:14 4:16 4:19 4:21 4:25 4:27 4:30 4:32 4:33 4:37 3:18 3:22 3:23 3:25 3:28 3:30 3:34 3:36 3:38 3:40 3:41 3:43 3:47 3:50 3:52 3:54 3:57 4:03 4:05 4:01 4:04 4:08 4:11 4:13 4:15 4:18 4:22 4:24 4:26 4:28 4:31 4:33 4:37 4:39 4:42 4:44 4:45 4:49 3:30 3:34 3:35 3:37 3:40 3:42 3:46 3:48 3:50 3:52 3:53 3:55 3:59 4:02 4:04 4:06 4:09 4:15 4:17 4:13 4:16 4:20 4:23 4:25 4:27 4:30 4:34 4:36 4:38 4:40 4:43 4:45 4:49 4:51 4:54 4:56 4:57 5:01 3:42 3:46 3:47 3:49 3:52 3:54 3:58 4:00 4:02 4:04 4:05 4:07 4:11 4:14 4:16 4:18 4:21 4:27 4:29 4:25 4:28 4:32 4:35 4:37 4:39 4:42 4:46 4:48 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11:21 11:23 11:13 11:16 11:20 11:23 11:25 11:27 11:30 11:34 11:36 11:38 11:40 11:43 11:45 11:49 11:51 11:54 11:56 11:57 12:01A 10:56 11:00 11:01 11:03 11:06 11:08 11:12 11:14 11:16 11:18 11:19 11:21 11:25 11:28 11:30 11:32 11:35 11:41 11:43 11:33 11:36 11:40 11:43 11:45 11:47 11:50 11:54 11:56 11:58 12:00A 12:03A 12:05A 12:09A 12:11A 12:14A 12:16A 12:17A 12:21 11:16 11:20 11:21 11:23 11:26 11:28 11:32 11:34 11:36 11:38 11:39 11:41 11:45 11:48 11:50 11:52 11:55 12:01A 12:03A 11:53 11:56 12:00A 12:03A 12:05A 12:07A 12:10A 12:14A 12:16A 12:18A 12:20 12:23 12:25 12:29 12:31 12:34 12:36 12:37 12:41 11:36 11:40 11:41 11:43 11:46 11:48 11:52 11:54 11:56 11:58 11:59 12:01A 12:05A 12:08A 12:10A 12:12A 12:15A 12:21 12:23 12:13A 12:16A 12:20 12:23 12:25 12:27 12:30 12:34 12:36 12:38 12:40 12:43 12:45 12:49 12:51 12:54 12:56 12:57 1:01 11:56 12:00A 12:01A 12:03A 12:06A 12:08A 12:12A 12:14A 12:16A 12:18A 12:19A 12:21 12:25 12:28 12:30 12:32 12:35 12:41 12:43 12:33 12:36 12:40 12:43 12:45 12:47 12:50 12:54 12:56 12:58 1:00 1:03 1:05 1:09 1:11 1:14 1:16 1:17 1:21 12:16A 12:20 12:21 12:23 12:26 12:28 12:32 12:34 12:36 12:38 12:39 12:41 12:45 12:48 12:50 12:52 12:55 1:01 1:03 12:53 12:56 1:00 1:03 1:05 1:07 1:10 1:14 1:16 1:18 1:20 1:23 1:25 1:29 1:31 1:34 1:36 1:37 1:41 12:36 12:40 12:41 12:43 12:46 12:48 12:52 12:54 12:56 12:58 12:59 1:01 1:05 1:08 1:10 1:12 1:15 1:21 1:23 1:13 1:16 1:20 1:23 1:25 1:27 1:30 1:34 1:36 1:38 1:40 1:43 1:45 1:49 1:51 1:54 1:56 1:57 2:01 12:56 1:00 1:01 1:03 1:06 1:08 1:12 1:14 1:16 1:18 1:19 1:21 1:25 1:28 1:30 1:32 1:35 1:41 1:43 1:33 1:36 1:40 1:43 1:45 1:47 1:50 1:54 1:56 1:58 2:00 2:03 2:05 2:09 2:11 2:14 2:16 2:17 2:21 1:16 1:20 1:21 1:23 1:26 1:28 1:32 1:34 1:36 1:38 1:39 1:41 1:45 1:48 1:50 1:52 1:55 2:01 2:03 1:53 1:56 2:00 2:03 2:05 2:07 2:10 2:14 2:16 2:18 2:20 2:23 2:25 2:29 2:31 2:34 — — — TRANSPORTATION1:36 1:40 1:41 1:43 1:46 1:48 1:52 1:54 1:56 1:58 1:59 2:01 | 2:05 EXPO 2:08 2:10 2:12 2:15 LINE 2:21 2:23 2:13 2:16 2:20 2:23 2:25 2:27 2:30 2:34 2:36 2:38 2:40 2:43 2:45 2:49 2:51 2:54 — — — Boxed trips Shaded (In Dark Blue) operate only on Saturday nights Los viajes encajonados (que aparecen sombreados en azul) operan el sábado por Boxed trips Shaded (In Dark Blue) operate only on Saturday nights Los viajes encajonados (que aparecen sombreados en azul) operan el sábado por into Sunday Morning la noche a domingo por la mañana. into Sunday Morning la noche a domingo por la mañana.

ROUTE MAP N

Sepulveda Olympic 7th St/ 2 CENTURY Pico Metro Ctr CITY Overland Olympic Westwood erwilvBe Barrington axairfF Pico 405 Robertson Crenshaw Bl Pico adoarvAl

La Cienega 110 7th Pico

Venice Bl erHoov e BlWislhir ternesW Union n 9th MID-CITY Pico WEST owerFl Washington Vermont Bundy Westwood/ Centinela LOS ANGELES Rancho Park 26th Br eaLa m

Expo/ $ adoorCol Bundy P edroSan SANTA MONICA 10 Grand $ Adams Expo/ e 23rd St 17th Sepulveda 10 La Cienega/ Olympic Culver City l Washington 14th a Bl Jefferson Expo/ 10 La Brea Normandie 23rd Sepulveda Expo/ Jefferson k Palms Farmdale a Monic 26th St/ Crenshaw Bergamot National 37th St/USC FIGUEROA Sant Sawtelle Expo/ San Pedro Palms Bl andGr Rodeo Rd Western Lincoln 17th St/ $ f g h j Adams SMC Jefferson/ USC Exposition Expo/ e BlVenic onArlingt Expo McLaughlin d c 23rd Vermont Park/ b Airport on Bl CULVER CITY USC Pico 405 Downtown Centinela oadwayBr er BlCulv Martin Luther Kng Jr Bl i Santa Monica arkean POc a Washingt sonerJeff 110 Pacific Cienega La eaLa Br eaLa Ocean

LEGEND STATIONS/CONNECTIONS Metro Expo Line & Stations Downtown Santa Monica Expo/La Brea Pico Metro Local 4, 534; 704, 720; BBB Local Metro Local 38, 212, 312; LD Crenshaw Metro Rail Blue Line; Metro Liner & Express (Silver Line Metro Blue Line 1, 2, 3, 7, 8, 9, 18; BBB Rapid 7, 10 910 & 950x); Metro Local 30, 81, 330; Metro Express 442, Farmdale Metro Red/Purple Line 460; LD F; CE 419, 422, 423, 438, 448; OCTA 701, 721; T4 MAP NOTES 17th St/SMC PAID PARKING Metro Local 38 Metro Silver Line BBB 41, 42, 44 7th Street/ Metro Center a Santa Monica Pier & Esplanade Expo/Crenshaw FREE PARKING Metro Rail Red Line, Purple Line, Blue Line; 26th St/Bergamot b Third Street Promenade Metro Rail Stations Metro Local 38, 210; Metro Rapid 710, 740; Metro Liner Silver Line; Metro Local 14, 16, 17, 18, 20, BBB 5, 16, 43 LD Midtown c Santa Monica College # Map Note (see insert) 37, 51, 52, 53, 55, 60, 62, 66, 70, 71, 76, 78, 79, 81, 316, 351, Bundy PAID PARKING Expo/Western 355, 378; Metro Rapid 720, 760, 770; Metro Express 442, Downtown Culver City/ Freeway 460, 487, 489; AVTA 785; BBB 10; CE 409, 422, 423, 431, d BBB Local 5, 7; BBB Rapid 7, 10, 14, 15 Metro Local 102, 207; Metro Rapid 757 Sony Studios P Free Parking 437, 438, 448, 534; FT , 493, 497, 498, 499, Sepulveda PAID PARKING Expo/Vermont 699; LD A, B, E, F; M 40, 50, 341, 342; OCTA 701, 721; SCT Washington/Fairfax Transit Hub e $P Paid Parking Metro Local 234; Metro Rapid 734; Metro Express 788; Metro Local 102, 204; Metro Rapid 754; 799; T4 f Rancho Cienega Sports Complex AVTA Antelope Valley BBB Local 7, 17; BBB Rapid 7; C Local 6; C Rapid 6 Metro Express 550; LD F g Dorsey High School Transit Authority Westwood/Rancho Park Expo Park/USC Foshay Learning Center BBB Santa Monica’s BBB 8, 12; C3 Metro Local 81, 102, 200; Metro Express 442, 460, 550, h 910/950X; CE 438, 448; LD F, King East Southeast; OCTA Palms LA Memorial Coliseum, C Culver City Bus 701, 721; T4 Express i BBB 5, 17 WALKING DISTANCE TO California Science Center, CE LADOT Commuter Express Jefferson/USC Natural History Museum Culver City FREE PARKING LADOT DASH Metro Local 38, 81, 102, 200, Metro Express 442; THE EXPO / CRENSHAW LD Metro Local 17, 33; Metro Rapid 733; BBB Local 12; Galen Center/USC LD F, King-East j M Montebello BBB Rapid 12; C1, 7; CE 437 23rd Street STATION AND THE EXPO k Orthopaedic Hospital La Cienega/ OCTA Orange County Metro Liner & Express (Silver Line 910 & 950x); Metro Jefferson FREE PARKING l LA Trade Tech College Transportation Authority Local 37, 38, 55, 81, 355, 603; Metro Express 460; LD F, / WESTERN STATION Metro Local 38, 105, 217; Metro Rapid 705; C4; LA Convention Center King-East; OCTA 701, 724; T4 m SC Santa Clarita Transit Baldwin Hills Parklands Shuttle “The Link” STAPLES Center/L.A. LIVE n T 189396

CBRE, INC. | 12 WEST ADAMS: VOTED NEIGHBORHOOD OF THE YEAR

CBRE, INC. | 13 NEW DEVELOPMENTS NEARBY

1. PROPOSED EXPO/CRENSHAW SHOPPING CENTER 2. MIXED-USE DEVELOPMENT ALONG WEST ADAMS GOING MIXED-USE BLVD

Charles Company previously was planning on developing a 4D Development & Investment has submitted plans to construct ±300,000-square-foot retail complex steps from the Expo/ a residential and retail mixed-use project on an approximately one Crenshaw station. Instead, they are now entitling the 6.5 AC site for acre lot located at 5163-5189 West Adams Blvd. The project is less retail space and the addition of a 200-unit multifamily project. scheduled to consist of 72 apartments, roughly 33,800 square feet of commercial on the ground floor, and two levels of underground parking. This project is currently under construction and will change

Source: the landscape along West Adams Blvd. http://urbanize.la/post/proposed-expocrenshaw-shopping-center-going-mixed-use

Source: http://urbanize.la/post/mixed-use-development-revealed-west-adams

CBRE, INC. | 14 NEW DEVELOPMENTS NEARBY

3. MIXED-USE COMPLEX AT LA CIENEGA / JEFFERSON 4. RESIDENTIAL CONVERSION AT 10 FWY / WESTERN AVE Carmel Partners is developing an 11 AC mixed-use project adjacent to the Expo’s La Cienega / Jefferson station. Construction is scheduled CIM has purchased the abandoned West Adams hospital, the to begin in 2018. Project will include about 1,218 residences, made former Los Angeles Metropolitan Medical Center building, located up of both condominiums and apartments. There will also be about along Western Avenue and the 10 Freeway (2231 S Western Ave, Los 100,000 sq. ft. of retail and about 200,000 sq. ft. of create office Angeles, CA 90018). Temporarily, CIM will transform the hospital space. into an art gallery featuring various artists. For example, in late 2016, the property held an exhibit featuring over 80 artists spanning over 40,000 square feet of space within the building. Eventually, CIM’s

Source: permanent plan is to fully convert this building into residential space. http://2preservela.org/cumulus-project-west-adams-neighbors-city-hall/

Source: http://la.curbed.com/2016/9/30/13126816/public-art-abandoned-hospital-west- adams

CBRE, INC. | 15 DEMOGRAPHICSDEMOGRAPHIC BRIEF 1633 MORTON AVE

POPULATION 1 MILE 2 MILES 3 MILES 5 MILES

2016 Population - Current Year Estimate 32,078 178,161 484,465 1,154,560 2021 Population - Five Year Projection 33,374 184,881 504,450 1,196,792 2010 Population - Census 30,706 171,743 463,140 1,111,639 2000 Population - Census 35,141 176,942 466,912 1,143,492

2010-2016 Annual Population Growth Rate 0.70% 0.59% 0.72% 0.61% 2016-2021 Annual Population Growth Rate 0.80% 0.74% 0.81% 0.72%

HOUSEHOLDS

2016 Households - Current Year Estimate 12,448 64,488 179,181 401,829 2021 Households - Five Year Projection 12,890 66,699 186,891 416,376 2010 Households - Census 12,014 62,614 170,881 387,631 2000 Households - Census 12,024 59,769 156,701 372,123

2010-2016 Annual Household Growth Rate 0.57% 0.47% 0.76% 0.58% 2016-2021 Annual Household Growth Rate 0.70% 0.68% 0.85% 0.71%

2016 Average Household Size 2.55 2.72 2.57 2.77

HOUSEHOLD INCOME

2016 Average Household Income $74,352 $61,917 $57,362 $57,961 2021 Average Household Income $81,927 $67,264 $61,931 $62,600 2016 Median Household Income $49,478 $37,880 $35,399 $36,499 2021 Median Household Income $54,067 $38,933 $35,854 $37,256 2016 Per Capita Income $29,228 $23,046 $22,267 $21,083 2021 Per Capita Income $31,998 $24,889 $23,946 $22,658

HOUSING UNITS

2016 Housing Units 1 3 , 3 6 3 6 9 , 3 8 6 1 9 4 , 9 9 5 4 3 5 , 3 1 9 2016 Vacant Housing Units 915 6.8% 4,898 7.1% 15,814 8.1% 33,490 7.7% 2016 Occupied Housing Units 12,449 93.2% 64,488 92.9% 179,181 91.9% 401,828 92.3% 2016 Owner Occupied Housing Units 3,449 25.8% 12,585 18.1% 28,854 14.8% 79,780 18.3% 2016 Renter Occupied Housing Units 9,000 67.4% 51,903 74.8% 150,327 77.1% 322,048 74.0%

EDUCATION

2016 Population 25 and Over 2 3 , 3 9 5 1 2 3 , 2 8 7 3 3 8 , 8 9 0 7 7 6 , 6 5 9 HS and Associates Degrees 8,779 37.5% 46,185 37.5% 133,115 39.3% 317,782 40.9% Bachelor's Degree or Higher 9,470 40.5% 38,744 31.4% 99,969 29.5% 215,725 27.8%

PLACE OF WORK

2016 Businesses 780 5,449 26,509 57,663 2016 Employees 5,234 66,447 293,557 589,386

CBRE, INC. | 16

©2017 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Source: Esri Page 1 ProjectID:160889 DEMOGRAPHICS

pOPULATION Housing Units

1 Mile 2 Miles 3 Miles 1 Mile 2 Miles 3 Miles

2016 Population - Current Year Estimate 48,332 217,422 484,347 2016 Housing Units 17,254 78,087 182,725

2021 Population - Five Year Projection 49,830 223,290 500,302 2016 Vacant Housing Units 8.5% 8.0% 7.9%

2016 Occupied Housing Units 91.5% 92.0% 92.1% households 2016 Owner Occupied Housing Units 28.9% 24.2% 21.6%

1 Mile 2 Miles 3 Miles 2016 Renter Occupied Housing Units 62.6% 67.8% 70.5%

2016 Households - Current Year Estimate 15,794 71,836 168,345 2021 Households - Five Year Projection 16,188 73,425 173,328 Education 2016 Average Household Size 3.01 2.99 2.80 1 Mile 2 Miles 3 Miles

2016 Population 25 and Over 31,305 141,529 314,413

HOUSEHOLD INCOMES HS and Associates Degrees 51.2% 49.3% 45.1%

1 Mile 2 Miles 3 Miles Bachelor's Degree or Higher 19.1% 19.8% 26.0%

2016 Average Household Income $54,054 $51,827 $57,147

2021 Average Household Income $59,613 $56,544 $61,853

CBRE, INC. | 17 ONLY A FEW METRO STOPS AWAY FROM ALL THAT FLOURISHING DOWNTOWN LOS ANGELES HAS TO OFFER

CBRE, INC. | 18 THRIVING DOWNTOWN LOS ANGELES

Downtown Los Angeles built up around the original settlements in the MAJOR DTLA EMPLOYERS region, and is naturally its geographic center. It has become one of the most dynamic urban centers in the West and the regional hub of Southern California. It contains the largest concentration of office space and cultural amenities, is the center of an extensive transportation network, and is the focal point for investment capital by public and private sources. The city’s renaissance, which began in the mid-1990s, has accelerated. According to the Downtown Center BID (DowntownLA.com), investment in Downtown Fresh Freight Air DTLA City Hall LA from 1999 to 2014 has been approximately $19.3 billion. Out of this $19.3 billion investment over the years, $7.3 billion of it has been in the residential sector. The residential and retail sectors have seen significant growth, which the hotel market continues to expand to meet the demand from over 10 million visitors annually.

Down Town Professional

CBRE, INC. | 19 COMPARABLES

CBRE, INC. | 20 SOLD LAND COMPARABLES

Property Address Zip Code Price Land SF $ / SF Land Sale Date Zoning Notes

Sold for land value; Unentitled. Property consists of a 3,559 sq. ft. of retail storefront near the corner of W Adams Blvd. and S Spaulding Ave. Property is currently occupied with a single tenant, Peak performance 5768-5788 W Adams Blvd 90016 $2,700,000 6,233 $433 10/28/16 LAC2 Transportation, they are leasing out 5768 W Adams Blvd. 5766W Adams Blvd is a 1,668 Sf retail building and was delivered vacant. There are no plans for development at this time but it is likely to happen in 2017.

Under contract. Unentitled. Proposed Use: 3629-3641 10th Ave 90018 $10,000,000 31,132 $321 Under Contract CM Commercial/Mixed-Use.

Redevelopment project sold for land value. Comprised of a former KABC-AM radio station with a 45,000 sq. ft. office building on 10.3 AC of land. The buyer, Carmel Partners, plans to tear down the existing structures 3321 La Cienega Blvd 90016 $110,625,000 448,911 $246 9/2/16 MR1-1VL and construct a mixed-use redevelopment. Property was fully entitled at the time of sale, and the buyer plans to construct 1.2M sq. ft. multifamily, 200,000 sq. ft. creative office and 100,000 sq. ft. of retail.

Under contract. Unentitled. Being sold for land value. There is currently a 8,470 sq. ft. retail space on the 3300-3314 Jefferson Blvd 90018 $4,000,000 20,670 $194 Under Contract LAC2 lot, but tenants are on month-to-month leases. Proposed Use: Commercial.

Average: $31,831,250 $126,737 $299 Median: $7,000,000 $25,901 $284

CBRE, INC. | 21 RENT COMPARABLES

Please note: There were no apartments for rent built after 1990. These rent comparables were the only ones available and happen to be for older product. Therefore, brand new product in an area with such high-demand calls for a premium.SELECT RENT COMPARABLES

COMPARABLE 1 2228 W 28TH ST 2228 W 28th St Los Angeles, CA 90018 Year Built: 1907 Units: 2

Type Asking Rent Unit Square Feet Rent per SF 1+1 $1,900 770 $2.47

Amenities/Notes: Renovated unit; Upstairs unit; Tandem parking; Hardwood & tile floors; Center A/C and heating; Stainless steel appliances

COMPARABLE 2 2908 ALSACE AVE 2908 Alsace Ave Los Angeles, CA 90016 Year Built: 1964 Units: 4

Type Asking Rent Unit Square Feet Rent per SF 2+1.5 $2,250 1,000 $2.25

Amenities/Notes: Upgraded features; New appliances; In-unit washer & dryer; New flooring; Two dedicated parking spaces

COMPARABLE 3 3536 W ADAMS BLVD 3536 W Adams Blvd Los Angeles, CA 90018 Year Built: 1939 Units: 4

Type Asking Rent Unit Square Feet Rent per SF 2+1 $2,400 1,100 $2.18

Amenities/Notes: Recently remodeled unit; New hardwood floors; Unit located on ground floor and includes a 1-car detached garage; In-unit washer & dryer

CBRE, INC. | 22 RENT COMPARABLES SELECT RENT COMPARABLES

COMPARABLE 4 3759 W. 27TH ST 3759 W. 27th St Los Angeles, CA 90018 Year Built: 1990 Units: 28

Type Asking Rent Unit Square Feet Rent per SF 2+1 $1,995 850 $2.35

Amenities/Notes: Recently remodeled unit; Refinished concrete floors; Granite countertops; Laundry facilities; Two parking spaces included

COMPARABLE 5 1742 W. 36TH ST 1742 W. 36th St Los Angeles, CA 90018 Year Built: 1929 Units: 2

Type Asking Rent Unit Square Feet Rent per SF 2+1 $2,195 550 $3.99

Amenities/Notes: Recently remodeled unit; New floors; New stainless steel appliances

COMPARABLE 6 2506-2508 S BRONSON AVE 2506-2508 S Bronson Ave Los Angeles, CA 90018 Year Built: 1923 Units: 2

Type Asking Rent Unit Square Feet Rent per SF 2+1 $2,725 1,100 $2.48

Amenities/Notes: New granite countertops; New stainless steel appliances; Washer & dryer hookups provided; Two parking spaces included

CBRE, INC. | 23 RENT COMPARABLES | MAP

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CBRE, INC. | 24 3844 W 27TH STREET LOS ANGELES, CA 90018

FULLY ENTITLED LAND FOR 16-UNIT MULTIFAMILY BUILDING IN THRIVING WEST ADAMS/JEFFERSON PARK

PRIDE OF OWNERSHIP IN THE EVER-CHANGING WEST ADAMS / JEFFERSON PARK MARKET

Capital Markets | Investment Properties For more information, please contact: Ed Matevosian Natalie Aghaei Lic. 01358783 Lic. 01939416 +1 818 502 6744 +1 310 948 2948 [email protected] [email protected]