The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the Offering Memorandum. If you have no interest in the subject property at this time, please return this Offering Memorandum to Marcus & Millichap.

This Offering Memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

JEFF LOUKS All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct Executive Vice President of Investments thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable (818) 212-2780 [email protected] changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, DRE #00908473 and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or BRETT SANSON engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, First Vice President Investments regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or (818) 212-2785 financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential [email protected] DRE #01387480 volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)

ELLIOT SABAG Multifamily Associate (818) 212-2672 BROKER OF RECORD [email protected] 16830 VENTURA BLVD. SUITE 100 DRE #01989131 ENCINO, CA 91436 EXECUTIVE SUMMARY SUMMARY

ADDRESS 7342 Haskell Avenue

CITY Lake Balboa, CA 91406

APN 2206-029-022

UNITS 21

GROSS SF 24,349

LOT SF 16,830

YEAR BUILT 1986

ZONING LAR3

DISCLAIMER: The information contained herein is not a substitute for a thorough due diligence investigation. The Broker has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, zoning & land use, and the size and square footage of the property and improvements. PROPERTY OVERVIEW

The Haskell Apartments located at 7342 Haskell Avenue in the community of Lake Balboa represents an exclusive opportunity for ▪ Built in 1986 the property is a SB1482 State Rent Control Building investors to acquire a renovated and enhanced, 21-unit multifamily apartment building. ▪ Attractive in Place Assumable Loan

Built in 1986, the subject has been repositioned with the following ▪ Great Unit Mix of 1 and 2 bedroom units capital improvements: new exterior paint, upgraded hallway flooring, new lobby tile, security camera installation, interior scone lights, and ▪ 18 of the 21 units have been turned and upgraded upgraded elevator interior. ▪ Approximately $400k of Cap Ex to upgrade building

Residents benefit from an excellent unit mix selection of 1 and 2- ▪ Spacious Units bedroom units, along with immediate access to transportation, and close freeway proximity.

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 5 Capital Improvements

▪ Exterior Paint $114,234

▪ Hallway Flooring $17,328.62

▪ Lobby Tile $5,066.00

▪ Security Cameras $5,569.75

▪ Interior Scone Lights $3,543.75

▪ Elevator Interior $13,599.00

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 6 CONTINUED Capital Improvements

▪ Equipment $3,050.89 ▪ Hot Water Heaters $9,798.43

▪ HVAC $1,397.98 ▪ Appliances $36,982.08 ▪ Landscaping $1,939.90 ▪ Apt Interiors $69,884.97 ▪ Laundry Room Renovation $492.75

▪ Architectural $2,250.00 ▪ Mailbox Upgrade $1,320.92

▪ Bathtubs $1,000.00 ▪ Other Capital Improvements $6,000.00

▪ ▪ Blinds $1,453.35 Painting Exterior $78,250.29

▪ Painting Interior $45,508.00 ▪ Carpet Vinyl $61,123.26 ▪ Unit Paint $4,548.00 ▪ Common Area Renovation $6,598.90 ▪ Parking Lots $960.00

▪ Countertops $23,520.00 ▪ Permits $512.00

▪ Electrical $999.16 ▪ Plumbing $692.47

▪ Plumbing Fixtures $3,225.00 ▪ Elevator $14,926.00

▪ Tree Trimming & Removal $840.00 ▪ Fire & Life Safety Insurance $2,760.37 ▪ Tub Refinishing $4,315.00 ▪ Fire & Life Safety Inspection $552.35 ▪ Unit Vinyl Tile $3,066.00

▪ Glass & Screens $1,013.00 ▪ Windows $435.00

EMPLOYMENT BASE EMPLOYMENT BASE

• Concentra Medical • Anheuser-Busch • Sound Studios • Target • 94th Aero Squadron • Restaurant Depot • Allied Building • Iron Doors Depot • UPS Customer Ctr • Valencia Lumber • WSS Distribution • Direct Lighting • The Studio V • Mates • Arrow Tools • Qortstone • Astek • Re Michel Company • DHL Service Ctr • Industrial Engineers • Electronic Source • DFS Flooring • Funrise • Top Industrial

Harris Corp

Robert Fulton College Prep

Big Lots Cohasset St Elementary

• Kyushu Ramen • Starbucks • Kebab Halebi • Smile Care • David Fuchs Medical • Allied Universal • Taco Bell

Post Office

N FINANCIAL ANALYSIS FINANCIAL ANALYSIS

SUMMARY Price: $6,650,000 Down Payment: 43% $2,890,000 Number of units: 21 Cost per Unit: $316,667

CURRENT MARKET GRM: 13.26 12.62 CAP RATE: 4.43% 4.80%

Year Built / Age: 1986 Approx. Lot Size: 16,830 Approx. Gross SF: 24,349 Cost per Gross SF: $273.11

Annualized Operating Data Investment Highlights CURRENT RENTS MARKET RENTS Scheduled Gross Income: $501,353 $526,860 ASSUMABLE LOAN Vacancy Rate Reserve: 25,068 5% 1 26,343 5% 1 Gross Operating Income: 476,286 500,517 • $3,860,000 loan amount Expenses: 181,535 36% 1 181,535 34% 1 • 3.65% fixed and interest only Net Operating Income: 294,750 318,982 until December 1, 2024 • Matures December 1, 2049 Loan Payments: 140,890 140,890 • 2 2 1% assumption fee Pre Tax Cash Flows: 153,860 5.32% 178,092 6.16% • Buyer has option of obtaining Principal Reduction: 0 new financing Total Return Before Taxes: 153,860 5.32% 2 178,092 6.16% 2

1 As a percent of Scheduled Gross Income 2 As a percent of Down Payment

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 11 FINANCIAL ANALYSIS

Scheduled Income Annualized Expenses (Estimated) CURRENT RENTS MARKET RENTS No. of Bdrms/ Approx. Avg Monthly Monthly Monthly Taxes 1.174279% $78,090 Units Baths Sq. Ftg. Rent/Unit Income Rent/Unit Income Insurance $7,346 Utilities $32,300 15 2+2 $2,097.48 $31,462 $2,195 $32,925 Main. & Repairs $14,113 6 1+1 $1,684.54 $10,107 $1,795 $10,770.00 Off-Site Management 4%) $19,051 On-Site Manager (est.) $12,600 Landscaping $2,835 Rubbish $7,350 Misc.+ Reserves $5,250 Total Scheduled Rent: $41,569 $43,695 Elevator $2,600 Laundry $210 $210 Monthly Scheduled Gross Income: $41,779 $43,905 Annualized Scheduled Gross Income: $501,353 $526,860 Utilities Paid by Tenant: Gas and Electricity Total Expenses: $181,535 Per Sq. Ft: $7.46 Per Unit: $8,644.54

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 12 RENT ROLL

Unit Unit Actual No. Type Rent Notes

101 1+1 $1,598.61 102 2+2 $2,145.00 103 1+1 $1,675.00 104 2+2 $2,195.00 Vacant 105 2+2 $2,095.00 106 2+2 $1,995.00 107 2+2 $1,938.60 201 1+1 $1,748.61 202 2+2 $2,095.00 203 1+1 $1,695.00 204 2+2 $2,075.00 205 2+2 $2,198.61 206 2+2 $2,095.00 207 2+2 $2,075.00 301 1+1 $1,695.00 302 2+2 $1,995.00 303 1+1 $1,695.00 304 2+2 $2,095.00 305 2+2 2,075.00 306 2+2 2,195.00 307 2+2 2,195.00 Vacant

TOTAL 41,569.43

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 13 MARKET COMPARABLES SALES COMPARABLES

7342 Haskell Avenue 4484 Murietta Avenue 14141 Erwin Street Lake Balboa, CA 91406 Sherman Oaks, CA, 91423 Van Nuys, CA 91401 S 1 2

Units Unit Type COE 4/3/2020 Units Unit Type COE 6/25/2019 Units Unit Type Offering Price $6,650,000 6 1 Bd/1 Ba Sales Price $3,000,000 Sales Price $2,180,000 1 1 bd/1 ba Price/Unit $316,667 15 2 Bd/1 Ba Price/Unit $300,000 Price/Unit $218,000 9 2 bd/1 ba Price/SF $273 Price/SF $333 Price/SF $275 Cap Rate 4.43% Cap Rate 3.73% Cap Rate N/A GRM 13.26 GRM 14.80 GRM N/A Total Units 21 Total Units 10 Total Units 10 Year Built 1986 Year Built 1986 Year Built 1900

14740 Erwin Street 7326 Haskell Avenue 7407 Haskell Avenue Van Nuys, CA 91411 Van Nuys, CA 91405 Van Nuys, CA 91406 3 4 5

COE 11/25/2019 Units Unit Type COE 10/11/2019 Units Unit Type COE 10/8/2019 Units Unit Type Sales Price $5,590,000 18 2 bd/2 ba Sales Price $2,600,000 5 1 bd/1 ba Sales Price $2,075,000 1 1 bd/1 ba Price/Unit $310,556 Price/Unit $236,364 6 2 bd/1 ba Price/Unit $259,375 7 2 bd/2 ba Price/SF $334 Price/SF $327 Price/SF $333 Cap Rate 4.45% Cap Rate N/A Cap Rate N/A GRM 13.52 GRM N/A GRM N/A Total Units 18 Total Units 11 Total Units 8 Year Built 2007 Year Built 1985 Year Built 1986

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 15 SALES COMPARABLES

6640 Woodley Avenue 6205 Woodman Avenue 6911 Woodman Avenue Van Nuys, CA 91406 Van Nuys, CA 91401 Van Nuys, CA 91405 6 7 8

COE 8/21/2019 Units Unit Type COE 9/20/2019 Units Unit Type COE 5/16/2020 Units Unit Type Sales Price $7,000,000 34 2 bd/2 ba Sales Price $18,750,000 6 Studio Sales Price $2,000,000 7 1 bd/2 ba Price/Unit $205,882 Price/Unit $250,000 30 1 bd/1 ba Price/Unit $200,000 2 2 bd/2 ba Price/SF $308 Price/SF $293 39 2 bd/2 ba Price/SF $182 1 3 bd/2 ba Cap Rate 4.14% Cap Rate N/A Cap Rate 4.28% GRM N/A GRM 15.13 GRM 13.80 Total Units 34 Total Units 75 Total Units 10 Year Built 1978 Year Built 1986 Year Built 1978

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 16 SALES COMPARABLES

PRICE / UNIT PRICE / SF $350,000 $400 $310,556 $316,667 $300,000 $333 $334 $333 $300,000 $350 $327 $308 $259,375 $250,000 $293 $300 $275 $273 $250,000 $236,364 $218,000 $205,882 $200,000 $250 $200,000 $200 $182 $150,000 $150 $100,000 $100

$50,000 $50

$0 $0 1 2 3 4 5 6 7 8 S 1 2 3 4 5 6 7 8 S

CAP RATE GRM

5.00% 16.00 14.80 15.13 4.45% 4.43% 4.28% 13.80 4.50% 4.14% 14.00 13.52 13.26 4.00% 3.73% 12.00 3.50% 3.00% 10.00

2.50% 8.00 2.00% 6.00 1.50% 4.00 1.00% 0.50% 2.00 N/A N/A N/A N/A N/A N/A N/A N/A 0.00% 0.00 1 2 3 4 5 6 7 8 S 1 2 3 4 5 6 7 8 S

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 17 SALES COMPARABLES

5 S 4

8 6

3 2 7

1 4484 Murietta Avenue 2 14141 Erwin Street 1 3 14740 Erwin Street 4 7326 Haskell Avenue 5 7407 Haskell Avenue 6 6640 Woodley Avenue 7 6205 Woodman Avenue 8 6911 Woodman Avenue S 7342 Haskell Avenue RENT COMPARABLES

1 Bed/1 Bath 2 Bed/2 Bath

ADDRESS BUILT TYPE UNIT SF RENT RENT/SF TYPE UNIT SF RENT RENT/SF 1 7326 Haskell Avenue 1985 1 bd/1 ba $1,650 2 bd/2 ba $2,100 Van Nuys, CA 91406

2 5949 Whitsett Avenue 1985 2 bd/2 ba $2,200 North Hollywod, CA 91607

3 5505 Zelzah Avenue 1979 2 bd/2 ba $2,198 Encino, CA 91316

4 6600 Woodley Avenue 1986 1 bd/1 ba $1,800 Van Nuys, CA 91406

5 14642 Sylvan Street 1989 1 bd/1 ba $1,800 Van Nuys, CA 91411

AVERAGES 1985 $1,750 $2,166

S Subject Property 1986 1 bd/1 ba $1,685 2 bd/2 ba $2,195 7342 Haskell Avenue Lake Balboa, CA 91406

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 19 RENT COMPARABLES

ONE BEDROOM TWO BEDROOM $1,850 $2,220 $2,200 $2,198 $1,800 $1,800 $2,200 $2,195 $1,800 $2,180

$1,750 $2,160

$2,140 $1,700 $1,685 $2,120 $1,650 $2,100 $1,650 $2,100

$2,080 $1,600 $2,060

$1,550 $2,040 1 4 5 S 1 2 3 S

21 UNIT MULTIFAMILY OFFERING :: EXTENSIVE CAPITAL IMPROVEMENTS 20 RENT COMPARABLES

S

1

4

5

2

3

1 7326 Haskell Avenue 2 5949 Whitsett Avenue 3 5505 Zelzah Avenue 4 6600 Woodley Avenue 5 14642 Sylvan Street S 7342 Haskell Avenue LOCATION OVERVIEW LOCATION OVERVIEW

Ideally located in the heart of the , Lake Balboa / Van Nuys is home to one of the most dense and diverse populations in the region. With the Van Nuys Airport just a few miles west of the property and the ease of access to the 101 and 405 Freeways, Lake Balboa / Van Nuys is one of the most traveled areas in greater .

Lake Balboa / Van Nuys is one of the fastest growing cities in Los Angeles with a projected population growth of over 4% by 2022. Boasting a population more than 110,000 it is already one of the densest cities in Los Angeles County and home to a large range of employers. Bordering other large cities such as Sherman Oaks, North Hollywood, and Reseda it provides for a wide customer draw.

Van Nuys Airport contributes more than $2 billion each year to the Southern California economy through creating jobs, promoting businesses, and providing critical general aviation and emergency services. There are more than 100 businesses located at VNY, including four major fixed-base operators (FBOs): Castle & Cooke Aviation, Clay Lacy Aviation, Jet Aviation, and Signature Aviation. These operators provide aircraft storage and parking, aviation fuel, aircraft sales, flight instruction, aircraft charter, and aircraft maintenance. Some of the FBOs also serve as major leaseholders of airport property, subletting land and buildings to other airport tenants. LOCAL DEVELOPMENTS

A Look at the $361-Million Plan to Speed Up Proposed Apartment Building Near Van Nuys Metro Board Approves Orange Line the Orange Line Boulevard Faces Appeal Upgrades A presentation to Metro's San Fernando Valley This week, the Los Angeles City Planning The Metro Board of Directors has voted to Service Council provides a closer look at the Commission is scheduled to consider an appeal approve proposed upgrades to the San agency's plan to speed up travel times on the of a proposed multifamily residential Fernando Valley's Orange Line busway at its Orange Line busway. development near the Van Nuys Civic Center. meeting earlier today. The improvements, one of several transportation projects being funded The project, which was approved by Los The project, which comes from applicant Erwin by the half-cent sales tax levied through Angeles County voters through the Measure M One, LLC of Culver City, calls for razing a one- Measure M, is intended to speed travel times sales tax initiative in 2016, would add light rail- story commercial building at 14552-14558 and enhance safety along the 18-mile corridor like improvements to the 18-mile corridor, Erwin Street to make way for the construction of that stretches from the Chatsworth Metrolink including 35 gated crossings and aerial stations a four-story building featuring 27 residential station to the Red Line's North Hollywood and Van Nuys and Sepulveda Boulevards. units - including three apartments for very-low- terminus. income households - with parking for 30 Metro estimates that the upgrades will cut the vehicles on one basement level. Plans call for the installation of 35 railroad-style end-to-end travel times between North crossing gates at major intersections along the Hollywood and Chatsworth from approximately Architectural plans for the low-rise structure length of the busway, enabling buses to cross 55 minutes to 38 minutes - an improvement of indicate a mix of one- and two-bedroom intersections at speeds between 25 and 35 29 percent - while attracting 35,000 weekday apartments, as well as amenities such as a miles per hour. Currently, they are restricted to passengers to the Orange Line - up from 25,000 rooftop deck and a first-floor gym. 15 miles per hour at street crossings. today. VAN NUYS BOULEVARD LIGHT RAIL

Metro Staff Recommends Light Rail for Van Nuys Boulevard • • Nordhoff Station Ahead of the June 28 meeting of the agency's Board of Directors, Metro has issued a Sylmar/San Fernando Metrolink • Maclay Station • Roscoe Station staff recommendation to select light rail as the locally preferred alternative for the East • Paxon Station • Van Nuys Metrolink Station San Fernando Valley Transit Corridor. The proposed transit line would run • Van Nuys/San Fernando Station • Sherman Way Station • Laurel Canyon Station • Vanowen Station approximately 9.2 miles along Van Nuys Boulevard and the San Fernando railroad right- • Arleta Station • Victory Station of-way, terminating at the Sylmar Metrolink Station in the north and the Orange Line • • Van Nuys Orange Line Station busway in the south. Plans call for 14 stations with an end-to-end travel time of 31 minutes. THE SAN FERNANDO VALLEY

AREA POPULATION ENTERTAINMENT INDUSTRY SYNERGY TRANSFORMATION Almost 2.5 million people reside in the San Fernando Known for its entertainment industry, the Valley boasts While the Valley has grown into the world’s center for Valley, which includes the submarkets of Northridge- more than 100 soundstages. Entertainment giants entertainment, aerospace giants Boeing and Northrop Northwest San Fernando Valley; Van Nuys-Northeast calling the Valley home include Walt Disney Co., Grumman, and 21st Century Insurance also generate San Fernando Valley; Woodland Hills; Burbank- Universal Studios, Warner Brothers, DreamWorks and numerous well-paying jobs. Healthcare is a also a Glendale-Pasadena; as well as Sherman Oaks-North Paramount Ranch. The entertainment industry major source of employment with providers that Hollywood-Encino. The area’s population is expected continues to set the area’s economic pulse. Local include Kaiser Permanente, and Providence Health & to increase by 1.9 percent through 2019, or by nearly motion picture and entertainment companies employ Services. As a result of its large concentration of high- 45,000 new residents. roughly 25,000 people. salaries and successful companies, the area’s median household income of $59,300 per year has risen dramatically since 2000. COMPANY HEADQUARTERS

2022 JOINT VENURE

FORTUNE 500/1000 COMPANIES OTHER MAJOR FIRMS

DOLE ❖ AMGEN ❖ NORTHROP GUMMAN ❖ TELEDYNE HINES ❖ KEYES ❖ ANTHEM ❖ ALLISON ASSET ❖ TECHNOLOGIES ❖ TUTOR PERINI ❖ PUBLIC STORAGE ❖ BURBANK STUDIOS ❖ WESTFIELD ❖ RYLAND HOMES ❖ AVERY DENNISON ❖ HEALTHNET KAISER PERMANENTE ❖ WARNER BROS ❖ ADLER REALTY ❖ MARVEL ❖ ABC PROFIT-BOOSTING BUSINESS SUPPORT The Valley gives businesses the advantage of strong strategic BUSINES SNAPSHOT partners and support structures. These serve to connect businesses to the resources it needs for growth. The region is home to robust organizations which include The Valley Economic Alliance, Valley NETWORK OF ILLUSTRIOUS CORPORATE HEADQUARTERS Economic Development Center, Valley Industry and Commerce The Valley is home to many major corporate names, and has traditionally Association, United States Small Business Association, United Chambers of Commerce, and many others. been known as the entertainment capital of the world. They include Fortune 500 Companies such as The Walt Disney Co., Amgen Inc., Health Net Inc., and Avery Dennison Corp., as well as Fortune 1,000 EDUCATION CENTERS OFFER SOLID EMPLOYEE BASE Companies Tutor Perini Corp., Teledyne Technologies Inc., The Ryland From private to public education, no other area comes close to the Group Inc., and Public Storage. educational capacity of The Valley. The Greater San Fernando Valley is home to 121 accredited institutions that offer higher ACCESSIBLE TRANSPORTATION HUBS education degrees, and includes public and private universities, The Valley makes transportation easy and accessible anchored by two colleges, trade schools, and graduate institutions. Approximately 506,000 individuals have higher education degrees, roughly 25% of major airports in the region, the world’s largest general aviation airport The Valley’s entire population. This makes it easy for businesses to in Van Nuys as well as Bob Hope Airport in Burbank. businesses have find future employees who are well-educated. easy access to major airlines for business, trade, and private aircraft needs. On the ground, The Valley has commuter rail services, Surfliner trains, dedicated high-speed bus lanes, a subway, an elaborate freeway MASSIVE ENTERTAINMENT & TOURISM CAPITAL system, and will have a California High Speed Rail station, now in the With an entertainment industry known around the world that is planning stage. constantly bringing in new people and major new investors, there is no better market for getting creative talent for businesses. Tourism is constantly growing here, with over 42 million overnight and day BUSINESS INCENTIVES AND OPPORTUNITIES visitors to the region annually as well as over $18.4 billion spent by The Valley is sharply focused on providing businesses with the means to these visitors. attract and retain a great workforce. There are assortments of federal, state, and local tax incentives/credits which are easy to attain. Examples include the Research and Development Tax Credit, Work Opportunity 3 Mi. Demographic Snapshot Tax Credit, Net Operating Loss Carryover, Film and TV Production Tax Credit, “Clean Technology Company” tax exceptions, and the Clean Metro Population 200,203 Vehicle Rebate Project. Households 68,681 Average HH Income $94,161 “24”: The new Bratz dolls headquarters This office campus will incorporate creative Sepulveda 364 office, residential, and retail space on a 24-acre 364 Apartment units. 44 of the units will be property, which will serve as the headquarters earmarked as low income. The project also for MGA Entertainment, the makers of Bratz includes a garage with 557 spots, plus a dolls. swimming pool and a dog run.

The ICON at Panorama City 7 buildings measuring 584,000 SF. That space would hold 423 units plus 200,000 sf of commercial floor area. 6-level parking garage for 1,690 cars 6606 Variel Ave 271-unit apartment building. The complex would have a pool and Burbank Town Center rooftop decks, plus two levels of Razing the old Ikea would make way for765 parking. NoHo West multi-family units; plus an additional 70 for- 642 apartments, 60 dining and shopping sale units would be built at 800 North San options, a Trader Joe’s, gym, and movie 6041 Variel Ave Fernando Boulevard. 274-unit apartment complex with 11 theater. live work units and a 12-story office building.

21031 Warner Center Lane 1,000 apartments and condos, and a trio of 15-story office buildings to a North Hollywood Metro station site near De Soto and Burbank. Metro is working to bring 1,500 units, retail, and office space to the station. The development, called District NoHo, is slated to be built in phases starting in 2021. Warner Center Makeover Westfield is planning a major overhaul of the old Promenade mall Harvard-Westlake River Park with 1,400 units, new shops & 6 acres of public park space, plus tennis restaurants, 572 hotel rooms, and an courts and walking trails that are also open to entertainment venue. the public.

DEVELOPMENT IN THE VALLEY: 11 BIG PROJECTS POISED TO ALTER THE REGION

It’s time to stop thinking of the Valley as a sleepy suburb. From Chatsworth to North Hollywood, plans are in the pipeline to make neighborhoods more city-like, meaning more dense and maybe more walkable and bikeable and more transit-friendly. In the coming years, developers will build thousands of new units of housing, create open space, bring in new retailers, and build new offices, creating mini villages within neighborhoods. JEFF LOUKS BRETT SANSON ELLIOT SABAG Executive Vice President of Investments First Vice President Investments Multifamily Associate (818) 212-2780 (818) 212-2785 (818) 212-2672 [email protected] [email protected] [email protected] DRE #00908473 DRE #01387480 DRE #01989131