OFFERING MEMORANDUM | TEN-UNIT APARTMENT BUILDING | PRIME BRENTWOOD LOCATION 11667 GOSHEN AVENUE , 90049

$4,000,000 | $400,000 PER UNIT | $443 PER SQUARE FOOT CONTENTS

3 INVESTMENT SUMMARY 20 FINANCIAL ANALYSIS Copyright © 2018 Transwestern. California ▪▪ Investment Summary ▪▪ Offering Summary Brokerage License #01263636. The information ▪▪ Rent Roll in this offering memorandum was gathered 5 PROPERTY IMAGES ▪▪ Operating Statement Summary by Transwestern from sources believed ▪▪ Property Images reliable. Transwestern has not verified the 23 SALES AND RENT COMPARABLES 8 LOCATION OVERVIEW information and makes no guarantee, warranty ▪▪ Sales Comparables or representation about it. It is the potential ▪▪ Regional Map ▪▪ Sales Comparables Map buyer’s responsibility to independently confirm ▪▪ Neighborhood Map ▪▪ Rent Comparables its accuracy and completeness. Any projections, ▪▪ Aerial View Facing Los Angeles ▪▪ Rent Comparables Map opinions, assumptions or estimates used are for ▪▪ Aerial View Facing Santa Monica example only and do not represent the current ▪▪ Plat Map or future performance of the property. Potential ▪▪ Market Overview buyers and their advisors should conduct ▪▪ Brentwood Market Data and Demographics a careful, independent investigation of the ▪▪ Nearby Development Projects property to determine to their satisfaction the ▪▪ Nearby Development Projects Map suitability of the property for their needs. ▪▪ Major Employers and Places of Interest Map ▪▪ Silicon Beach ▪▪ Silicon Beach Map

PRESENTED BY JOHN SWARTZ JOSH KAPLAN TROY LUCERO TRANSWESTERN Senior Vice President Senior Vice President Analyst 601 S. , Suite 2750 213.430.2526 213.430.2538 213.457.1656 Los Angeles, CA 90017 [email protected] [email protected] [email protected] 213.624.5700 CA License 01873487 CA License 01934177 CA License 02015705 transwestern.com/losangeles

2 INVESTMENT SUMMARY

Transwestern as the exclusive listing agent THE OPPORTUNITY ■ PROPERTY SUMMARY is pleased to present the opportunity ■ Soft-story seismic retrofit completed to acquire 11667 Goshen Avenue, Los ■■ Two units to be delivered vacant: Unit 1 (2br+2ba) and Unit 7 (1br+1ba) PROPERTY ADDRESS Angeles, California 90049, a ten (10) unit 11667 Goshen Avenue ■■ Value-add opportunity – current rents are Los Angeles, CA 90049 apartment building located in the heart of approximately 35% below market1 NUMBER OF UNITS Brentwood within a short walking distance ■■ All units have large and efficient floor plans Ten (10) total units from retail, dining and entertainment ■■ Excellent unit mix – six (6) 1bed+1bath and Six (6) 1bed + 1bath four (4) 2bed+2bath units on and San Vicente Four (4) 2bed + 2bath ■■ Ample on-site parking – thirteen (13) spaces Boulevard. YEAR BUILT - five (5) single spaces and four (4) tandem 1961 spaces BUILDING SIZE2 ■■ 10 storage units on site + 9,024 SF

PRICE: $4,000,000 LAND SIZE2 $443 PER SQUARE FOOT + 7,499 SF ZONING $400,000 PER UNIT R4-1 (Per zimas.lacity.org - Buyer to verify) 1 PARKING 17.4 CURRENT GRM Thirteen (13) total spaces Five (5) single spaces 1 3.50% CURRENT CAP RATE Four (4) tandem spaces

ASSESSOR PARCEL NUMBER 4265-003-002 1 Current GRM and Cap Rate assumes vacant Units 1 and 7 leased at projected rents. 2Source: TitlePro. Buyer to verify.

3 INVESTMENT SUMMARY

PROPERTY DESCRIPTION both replaced in 2016 and are owned by the cultural entertainment at the Getty or Geffen 11667 Goshen Avenue is a ten (10) unit landlord. The water heater was also replaced in Playhouse Theater in Westwood, and trips to apartment building constructed in 1961. The unit 2016. the Santa Monica beach less than five miles from their front door. Brentwood is also home to mix consists of six (6) large 1bed+1bath and four PROPERTY LOCATION (4) 2bed+2bath units. The property is a three- seven private schools, two public schools, and story 9,024 square foot walk-up building with a 11667 Goshen Avenue is located between the exclusive Brentwood Country Club. wood frame and stucco construction situated on Barrington and Barry Avenue, a short walking a 7,499-square foot lot. distance from Wilshire Boulevard, in the heart WALK SCORE BREAKDOWN of Brentwood. Brentwood is an affluent area in All of the units have very large floor plans that . While the area is more widely DINING/DRINKING provide an investor the opportunity to complete known for its multi-million dollar mansions their own renovation plan and significantly at the base of the Santa Monica Mountains, GROCERIES increase rents. All units come with a wall air Brentwood also offers a charming walkable conditioner and most units come with a large urban village that is located a few blocks from SHOPPING glass sliding door in the living room. All units the subject property. The area offers a wide feature a dual vanity in the main bathroom. In array of convenient walkable neighborhood ERRANDS addition, all units feature additional closet space amenities including Whole Foods, Starbucks, in the living room, storage space in the hallway The Coffee Bean, CVS, Jamba Juice, SoulCycle, PARKS as well as a storage locker outside in the parking Fresh Brothers, Burger Lounge, SusieCakes, lot. Unit 10 is a penthouse 2bed+2bath unit Citibank, and Brentwood Gardens, an alfresco SCHOOLS featuring a second entrance/exit from a private shopping center which includes a variety of staircase as well as a large balcony off of the boutique, shops, and restaurants. Additionally, guest bedroom. ENTERTAINMENT there are numerous fine dining establishments Parking is provided on-site with thirteen (13) in the area including Katsuya, Sugarfish, Coral spaces comprised of five (5) single spaces and Tree Café, Toscana, Pecorino, Palmeri Ristorante, 0 100 four (4) tandem spaces. Five (5) of the single Pizzicotto, Gaucho Grill, and Bandera. On nights spaces are located at the rear of the building. and weekends, residents will be afforded a truly Each of the units are separately metered for gas complete, urban experience replete with hikes and electricity. Tenants are provided with one (1) in the Santa Monica Mountains, shopping and washer and one (1) dryer machine which were brunch on in Santa Monica,

4 PROPERTY EXTERIOR IMAGES

5 PROPERTY INTERIOR IMAGES

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B M o 405 n a s c e a a v ll r A A 405 t g v h in e e u sh v L r r A o A e e r P y Av n v rant a e e G L n w e t D S e B v r lt A i u a n a n g n a h e t a h n m C o M A v e d Eisenhower Blv S Pl ire orham ilsh W G W e s tg a t e Blvd A nte r v ice H D e n V n Sa a le d w H l o vd a e D Bl d y nte l Vice e L San y n e C v t A a l n P a t S h n t o B r a o M r G w e ri v ra n s A g d n t v 11667 Goshen Ave a m i o a ll n rh e A W o A v G v e e e v e A v ld t A e S n fi o y y t a th g o in M r rl o a D D

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10 AERIAL VIEW FACING SANTA MONICA

GOSHEN AVE

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12 MARKET OVERVIEW

LOS ANGELES APARTMENT MARKET OVERVIEW and expected to be delivered between now and southwest, the border of Topanga State Park on In the first quarter 2018, the Los Angeles County year-end 2018. With Los Angeles now mostly the west and in the mountains apartment real estate market continued to see built-out, developers have looked more closely to the north. Due to its proximity to major high occupancy levels and strong year-over-year at apartment construction in infill neighborhoods points of interest such as UCLA, Malibu, and effective rent growth. REIS reported the County- with existing infrastructure and transit links to Santa Monica, as well as its walkable village feel, wide occupancy rate at 96.6%, down 10 basis the rest of the region. As a result, much of the Brentwood is considered by many to be one of points from year-end 2017. With the average apartment construction in Los Angeles County the most desirable neighborhoods to live in Los apartment rental rate now at $1,898 per month is concentrated in only a handful of submarkets: Angeles. As a result, it has some of the highest County-wide according to REIS, year-over-year Downtown Los Angeles, Hollywood, Koreatown, average household incomes in the region while rental rate growth has been 5.2% which is the Long Beach, and Warner Center. being home to seven private schools, two public second fastest growing on the West Coast, schools, and the exclusive Brentwood Country behind only Seattle. BRENTWOOD MARKET OVERVIEW Club. Located in West Los Angeles, Brentwood is an Los Angeles County saw a total of 6,164 affluent neighborhood bordered by the San apartment units delivered in 2017 with an Diego Freeway to the east, Wilshire Boulevard additional 11,755 units now under construction to the south, the Santa Monica city limits on the

BRENTWOOD BY THE NUMBERS

2017 POPULATION 2022 POPULATION MEDIAN AGE

229,500 (+2.0% since 2010) 237,760 (+3.6% est. over 2017) 42.3 years old

AVERAGE INCOME EDUCATION

$138,022 63% have bachelor’s or higher 13 BRENTWOOD DEMOGRAPHIC OVERVIEW 1 MILE RING 3 MILE RING 5 MILE RING BRENTWOOD MARKET DATA AND POPULATION SUMMARY # % # % # % 2022 Projection 46,845 237,760 541,424 DEMOGRAPHICS 2017 Estimate 44,901 229,500 522,479 2010 Census 43,464 225,066 511,412 SUBMARKET DATA Projected Growth 2017-2022 4.33% 3.60% 3.63% In the first quarter 2018, the Brentwood rental Estimated Growth 2010-2017 3.30% 1.97% 2.16% apartment market saw occupancy levels for Household Summary # % # % # % Class A properties decrease to 96.6%, down 2022 Projection 24,757 109,543 251,092 from 96.9% a year ago. Class B/C properties 2017 Estimate 23,706 105,319 241,721 saw their occupancy levels increase to 98.1%, up 2010 Census 22,922 102,883 236,023 from 97.7% a year ago. According to REIS, the Projected Growth 2017-2022 4.43% 4.01% 3.88% average monthly asking apartment rental rate in Estimated Growth 2010-2017 3.42% 2.37% 2.41% Brentwood for Class A buildings in the first quarter Ethnicity/Race Summary # % # % # % 2018 was $3,590 (up 8.2% year over year) while White 28,467 63.40% 147,119 64.10% 325,730 62.34% Class B/C buildings saw asking rents increase to Black 1,325 2.95% 6,253 2.72% 20,351 3.90% $2,392 (up 7.0% year over year). With Brentwood Asian 7,311 16.28% 38,317 16.70% 68,688 13.15% Hispanic 5,866 13.06% 27,561 12.01% 84,784 16.23% continuing to be seen as a high-barrier-to-entry Other 1,932 4.30% 10,249 4.47% 22,926 4.39% neighborhood near major employment clusters Education Summary # % # % # % on the Westside, expect apartment properties Less than 9th grade 847 2.54% 3,405 2.19% 12,947 3.52% to remain in high demand from both renters and Some High School, no diploma 1,067 3.20% 4,307 2.77% 11,744 3.19% investors for the foreseeable future. High School Graduate (or GED) 2,223 6.67% 13,153 8.45% 36,175 9.83% Some College, no degree 4,308 12.92% 21,791 14.00% 58,115 15.79% Associate Degree 1,559 4.68% 7,248 4.66% 18,951 5.15% Bachelor's Degree 14,164 42.49% 57,516 36.95% 129,931 35.30% Master's Degree 5,378 16.13% 26,258 16.87% 55,456 15.07% Professional School Degree 2,320 6.96% 14,106 9.06% 29,448 8.00% Doctorate Degree 1,469 4.41% 7,872 5.06% 15,289 4.15% Workplace & Income Summary # % # % # % Median Household Income $82,482 $86,301 $85,352 Average Household Income $116,606 $138,022 $137,506 All Employees 48,881 282,073 493,442 White Collar 18,685 38.40% 118,909 42.32% 197,543 40.20% Blue Collar 29,972 61.60% 162,069 57.68% 293,840 59.80% Median Employee Salary $48,686 $52,512 $50,270 Average Employee Salary $58,071 $61,950 $59,405 Daytime Population 69,587 498,399 854,652 14 NEARBY DEVELOPMENT PROJECTS

PICASSO BRENTWOOD LANDMARK APARTMENTS Under construction 6-story, 81-unit mixed-use Proposed 34-story, 376-unit apartment tower apartment project by Metropolitan Pacific on by Douglas Emmett replacing the long-vacant Wilshire Boulevard between Bundy Drive and supermarket site on the southwest Brockton Avenue with 10,000 square feet of corner of Wilshire Boulevard and Granville ground-floor retail. Ave, consisting of 360 market rate units and 16 affordable units. MONTCLAIR Under construction 5-story, 49-unit apartment 11701 SANTA MONICA BLVD project at 11965-11979 Montana Ave by Proposed 5-story, 61-unit apartment project by Montana Bundy LLC consisting of 45 market rate Markwood Enterprises on the northwest corner PICASSO BRENTWOOD units and 4 affordable units. of and Barrington Avenue consisting of 56 market rate units and 625 S BARRINGTON AVE 5 affordable units over 1,500 square feet of Under construction 4-story, 46-unit market-rate ground-floor retail space. apartment project by Nayssan Properties on Barrington Avenue between Chenault St and 12431 ROCHESTER AVE Terryhill Place. Proposed 5-story, 50-unit apartment project by Starkwood on the northeast corner of Santa MONTCLAIR THE SANREMO Monica Boulevard and Under construction 4-story, 34-unit market-rate consisting of 45 market rate units and 5 apartment project by The Roberts Companies affordable units. on Barrington Avenue between and . 11407 SANTA MONICA BLVD Proposed 5-story, 51-unit apartment project 1330 S FEDERAL WAY by Wiseman Development on the northwest Proposed 2-story ,26-unit condo development corner of Santa Monica Boulevard and Purdue project by Woodbridge Properties LLC on Avenue consisting of 47 market rate units and 4 the northeast corner of Federal Avenue and affordable units over 1,500 square feet of ground Rochester Ave. floor retail space. LANDMARK APARTMENTS

15 NEARBY DEVELOPMENTS MAP

v v B B e e s n h The Sanremo W s S v W B e sh 625 S. Barrington Ave W

v B 405 e h s 11667 Goshen Ave S W S e Montclair v e B v B n e e v n V S W 1330 S Federal Way 2 Landmark Apartments e s 11407 Santa Monica Blvd o o Picasso Brentwood

B 6 v h 11701 Santa Monica Blvd

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11667 Goshen Ave Hammer Museum Wells Fargo

Will Rogers State Park First Pacific Advisors

Hudson Pacific Properties v B o Will Rogers State Beach Riviera Country Club RBZ LLP BakerHostetler LLP 1 W Brentwood Country Mart Crystal Cruises S

S Brentwood Country Club Kinetic Content e e IBISWorld v v e A Temescal Canyon Park n B 1 v v n B v o B e Social Security Administration on h 2 S O s N v B MAJOR EMPLOYERS e W B n n o 1 A v PLACES OF INTEREST e v D B Santa Monica Pier 17 v B e n n e 1e87 N V O e e 187 n v o s A o e v n n s B h Ro e s W n W Ve SILICON BEACH

Due to its strong concentration of established and startup entertainment, digital media, and technology firms, the area stretching between Santa Monica, Venice Beach, Marina Del Rey, Culver City, and Playa Vista has been called “Silicon Beach.” With well-known local startup firms such as Snapchat, TrueCar, ZipRecruiter, as well as Silicon Valley behemoths such as Google, YouTube, Facebook, and Uber, this coastal area have become a major center for ’s technology industry

SANTA MONICA VENICE Sony Computer Entertainment Universal Music Group BuzzFeed Deutsch Advertising Activision Blizzard Continuum The Honest Company Lionsgate Entertainment Epoxy 72andSunny Hulu Google Team One (Saatchi & Saatchi) Rubin Postaer & Associates Snapchat IMAX Edmunds.com VICE Media Omnicom Media HBO Zambezi WPP (GroupM Worldwide) Amazon.com ZEFR Rubicon Project Cornerstone OnDemand YouTube Red Bull OLYMPIC CORRIDOR Core Digital Media ICANN CBS TV Distribution Riot Games TMZ Demand Media Shopzilla Facebook Game Show Network (GSN) Fandango Crispin Porter Laureate Education Uber TBWA\Chiat\Day WeWork MARINA DEL REY Konami TrueCar Dollar Shave Club Strange Frog Productions Skydance Productions TeleSign Phelps Group Tradesy JibJab Media Pop Twitter Microsoft Pandora PLAYA VISTA Fullscreen Red Interactive Fox Interactive Media Gehry Technologies Interactive Data Corp Belkin Chernin Group Ovation TV Verizon (EdgeCast Networks) Brighter Collective ZipRecruiter Yahoo! R/GA Media Group MatchCraft Electronic Arts VEVO USC Institute of Creative Technologies 18 e v a n e e d s W O lympic Blvd n r V SILICONv BEACH MAP u l ic l W S y e B d n lv G t t B e e l r s e ir Wesoo e Blv n h n D W d

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l S v t d e S d S lv g s FINANCIAL ANALYSIS - OFFERING SUMMARY

PROPERTY SUMMARY PRICING SUMMARY Property Address 11667 Goshen Ave Price $4,000,000 City/State Los Angeles, CA 90049 Price Per Unit $400,000 Year Built 1961 Price Per SF $443 Total Units 10 Current NOI3 $140,102 Building Area1 9,024 SF Pro Forma NOI $207,556 APN# 4265-003-002 Cap Rate - Current3 3.50% Land Area1 7,499 SF Cap Rate - Pro Forma 5.19% Zoning2 R4-1 GRM - Current3 17.4x Parking Thirteen (13) spaces - five (5) single spaces and four (4) tandem spaces GRM - Pro Forma 12.9x

RENT ROLL SUMMARY

CURRENT3 PRO FORMA

AVG. IN-PLACE TOTAL MONTHLY SCHEDULED AVG. PRO TOTAL MONTHLY SCHEDULED LOSS TO NO. UNITS FLOOR PLAN RENT INCOME GROSS INCOME FORMA RENT INCOME GROSS INCOME LOSS TO LEASE LEASE % 6 1B+1BA $1,650 $9,901 $118,812 $2,250 $13,500 $162,000 $43,188 36% 4 2B+2BA $2,278 $9,111 $109,332 $3,050 $12,200 $146,400 $37,068 34% Totals/WTD Avg. 10 $1,901 $19,012 $228,144 $2,570 $25,700 $308,400 $80,256 35%

1 Source: TitlePro. Buyer to verify square footages. 2 Source: zimas.lacity.org. 3 Current GRM, Cap Rate and NOI and rents assume vacant Units 1 and 7 leased at projected rents.

20 RENT ROLL

CURRENT1 PRO FORMA

SCHEDULED GROSS SCHEDULED GROSS UNIT OCCUPIED / VACANT MOVE-IN DATE UNIT TYPE CURRENT RENT INCOME MARKET RENT INCOME LOSS TO LEASE 1 Vacant N/A 2B+2BA $3,050 $36,600 $3,050 $36,600 $0 2 Occupied 4/1/2017 1B+1BA $1,450 $17,400 $2,250 $27,000 $800 3 Occupied 1/25/2014 1B+1BA $1,681 $20,172 $2,250 $27,000 $569 4 Occupied 10/1/1999 1B+1BA $1,420 $17,040 $2,250 $27,000 $830 5 Occupied 7/1/2011 2B+2BA $1,909 $22,908 $3,050 $36,600 $1,141 6 Occupied 10/27/2015 1B+1BA $1,550 $18,600 $2,250 $27,000 $700 7 Vacant N/A 1B+1BA $2,250 $27,000 $2,250 $27,000 $0 8 Occupied 1/1/2017 1B+1BA $1,550 $18,600 $2,250 $27,000 $700 9 Occupied 10/18/2014 2B+2BA $2,060 $24,720 $3,050 $36,600 $990 10 Occupied 1/1/2013 2B+2BA $2,092 $25,104 $3,050 $36,600 $958 Totals 10 $19,012 $228,144 $25,700 $308,400 $6,688 Loss To Lease % 35%

RENT ROLL SUMMARY

CURRENT1 PRO FORMA

NO.UNITS OCCUPANCY % FLOOR PLAN AVG. IN-PLACE RENT TOTAL MONTHLY INCOME AVG. PRO FORMA RENT TOTAL MONTHLY INCOME LOSS TO LEASE 6 60% 1B+1BA $1,650 $9,901 $2,250 $13,500 $3,599 4 40% 2B+2BA $2,278 $9,111 $3,050 $12,200 $3,089 Total/WTD Avg. 100% 10 $1,901 $19,012 $2,570 $25,700 $6,688 Gross Potential Income $228,144 $308,400 $80,256

1 Current rents assume vacant Units 1 and 7 leased at projected rents.

21 OPERATING STATEMENT SUMMARY

OPERATING STATEMENT SUMMARY Revenue IN-PLACE1 PRO FORMA Gross Potential Rent $228,144 $308,400 Vacancy - (9,252) Net Rental Income $228,144 $299,148 Other Revenue - Estimated Laundry Income 1,700 1,700 Effective Gross Income $229,844 $300,848

Estimated Expenses Per Unit Per Unit Administrative Estimated $1,000 $100 $1,000 $100 Repairs & Maintenance Estimated 6,500 650 6,500 650 Turnover Expense Estimated 1,500 150 1,500 150 Management Fee 5.0% of EGI 11,492 1,149 15,042 1,504 Utilities Estimated 11,500 1,150 11,500 1,150 Contract Services Estimated 1,500 150 1,500 150 Taxes 1.25% of Sale Price 50,000 5,000 50,000 5,000 Insurance Estimated 3,750 375 3,750 375 CapEx Reserves Estimated 2,500 250 2,500 250 Total Expenses $89,742 $8,974 $93,292 $9,329 Net Operating Income $140,102 $207,556 Expense Ratio (% of EGI) 39% 31%

1 In-place NOI assumes vacant Units 1 and 7 leased at projected rents.

22 SALES COMPARABLES

PROPERTY ADDRESS YEAR BUILT SALE DATE SALE PRICE CAP RATE GRM $PSF $ PER UNIT BLDG SF # OF UNITS

1 11642 Kiowa Ave. 1967 Apr-2018 $4,250,000 2.99% 19.9 $513 $472,222 8,284 9 Los Angeles, CA 90049

2 11921 Goshen Ave. 1962 Jan-2018 $3,900,000 3.30% 18.1 $582 $487,500 6,700 8 Los Angeles, CA 90049

3 11813 Dorothy St. Los Angeles, CA 90049 1954 Sep-2017 $2,800,000 3.59% 17.5 $394 $400,000 7,106 7

4 11942 Darlington Ave. 1965 Jul-2017 $2,950,000 N/A N/A $455 $421,429 6,477 7 Los Angeles, CA 90049

TOTAL / AVERAGE $13,900,000 3.25% 18.6 $487 $448,387 28,567 31

11667 GOSHEN AVE. 1961 $4,000,000 3.50%1 17.41 $443 $400,000 9,024 10

1 Current Cap Rate and GRM assume vacant Units 1 and 7 leased at projected rents.

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r B i r SALES COMPARABLESS MAP n in W g g e h h s e a a t v g A lvd m m a e B t a nt e n ce A A d a Vi v A t lvd n v v l v n B Sa e e o ente e B M Vic e an r S d i B l v h te s cen l d V i i B lv San te W icen an V S Veteran Affairs Los Angeles e e v Healthcare System v A A ld e 11813 Dorothy St e a v fi n y 11642 Kiowa Ave a A a t m 3 n a M o rh 1 M o G t ra G S n y v S th il o le 11667 Goshen Ave W r e o A s D e v t v e g A e a v t n A e e to v A a F A g w e v in o m e l i d a r K e a r rh D e a o v l G A A a v w e io K G ra lvd F n e t v B d S 11942 Darlington Ave i e e y l r r le i a th l o A h B A r v s a 4 e l r v o i r e D e S y v W W A A v n e e to s g ve tg S n A a i t B rl ld e u a ie A D f v S S n y t a e o B d M n a r y e r r in A D g B v t rS e o a n r B r u 11921 Goshen Ave A y n v d S e A y t v o S D 2 n e r G e B r r a a r S n A r G v v in e r il e v e S le g tn t A a W A o n G v n e to re e e v g e s A A n t v r in e g e rl W v a e st a d t e a y A v e h D n l e c e B A v Ro sh v A o e e as 24 G ir x A A Te m h r h ls m e i r B a s r c t W o o University High e s A v c t v A k e e t A v School n o v A e S n e s h S a s a A ex We o lt v T lle a e sl G i ey r Av A e v e RENT COMPARABLES

PROPERTY ADDRESS UNIT TYPE RENT COMMENTS 1 11677 Goshen Ave. 1B+1BA $2,195 Unit features a balcony, hardwood floors in living room, tile in kitchen and carpet in bedroom.

2 Unit features newer wood laminate floors, wet bar and patio. Kitchen has granite counters, new stainless 11642 Kiowa Ave. 1B+1BA $2,295 steel sink, dishwasher, range, microwave, and refrigerator. Wall a/c. One carport space included. Community laundry room.

3 Unit features fire place, all major appliances, central heating and cooling and balcony. Includes 1-car parking 11640 Kiowa Ave. 1B+1BA $2,395 space.

4 Newly remodeled 1 bd 1 ba with balcony, A/C, walk-in closet, laminate floors, high ceilings, carpet in 11683 Goshen Ave. 1B+1BA $2,245 bedroom, and all new stainless steel appliances.

5 Unit features granite counter tops, stainless steel appliances, hardwood floors, fire place, central heating and 11640 Kiowa Ave. 2B+2BA $3,195 cooling and balcony.

6 Unit features fire place, all major appliances, central heating and cooling and balcony. Includes 2-car parking 11663 Kiowa Ave. 2B+2BA $2,995 space.

7 Front facing unit with balcony includes; laminate floors, high ceilings and recessed lighting in living room. 11757 Kiowa Ave. 2B+2BA $2,895 Central a/c and heat. Owner pays for water and trash. Two parking spaces. Washer and dryer on premise.

RENT COMPARABLES SUMMARY UNIT TYPE # OF UNITS AVG RENT SUBJECT PROPERTY 1B+1BA 4 $2,283 $2,250 2B+2BA 3 $3,028 $3,050 25 e v A m a RENT COMPARABLES MAP rh S o G a n

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e B v G A ra v n n to v g il 11667 Goshen Ave n le e li v r A A a v a D e w io 11683 Goshen Ave K 1 11677 Goshen Ave e F v 4 e A F d a e e d w S r o e a i B r K a a l r l A r A in v v g e e 11757 Kiowa Ave to v n B ve A A v e 7 n e e h sh s o G W d S lv W B e s e tg ir a h te s A l v i e B W a r r y A e v v e S A B n a W S r e r 26 e h B y s s a A t o r g G r v a S in e te t g o t A n o v e n e r A A v v e e John Swartz Josh Kaplan Troy Lucero Senior Vice President Senior Vice President Analyst 213.430.2526 213.430.2538 213.457.1656 [email protected] [email protected] [email protected] CA Lic 01873487 CA Lic 01934177 CA Lic 02015705

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