Larchmont Village 667-671 ILTON Wlarchmont Village

A shovel ready 34 unit development opportunity in prime Larchmont Village 667-671 ILTON WLarchmont Village

MCDERMOTTGROUP MULTIFAMILY | LAND INVESTMENT ADVISORS EXCLUSIVELY LISTED BY

LONNIE MCDERMOTT 1 2 3 4 LONNIE MCDERMOTT First Vice President Investments First Vice President Investments INVESTMENT OFFERING AREA OVERVIEW Senior Director, National Land Group MARKET SeniorTel: (818) Director, 212-2745 National Land Group HIGHLIGHTS Tel:Fax: (818) (818) 212-2745 212-2710 SUMMARY COMPARABLES Fax:[email protected] (818) 212-2710 [email protected]: CA: 01874375 License: CA: 01874375

MCDERMOTTTHE GROUP MULTIFAMILYMcDERMOTT | LAND GROUP LAND | MULTIFAMILY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must This information has been secured from sources we believe to be reliable, but we make no repre- verify the information and bears all risk for any inaccuracies. Any projections, opin- sentations or warranties, expressed or implied, as to the accuracy of the information. References ions, assumptions or estimates used herein are for example purposes only and do to square footage or age are approximate. Buyer must verify the information and bears all risk for not represent the current or future performance of the property. Marcus & Millichap any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for exam- Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate ple purposes only and do not represent the current or future performance of the property. Marcus Investment Services, Inc. © 2016 Marcus & Millichap & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap 2 3 A shovel ready 34 unit development opportunity in prime Larchmont Village

Located in the true entertainment capital of the world a premier, fully entitled multifamily development opportunity in Hollywood / Larchmont Village

Marcus & Millichap is pleased to present 667-671 N Wilton Place, a high-profile, fully entitled, permits issued and paid, 34-unit multifamily development opportunity located on the west side of Wilton Place in Larchmont Village, Los Angeles, CA. This unique development opportunity is comprised of 0.24 Acres or approximately 10,350 square feet of land.

667-671 N Wilton Place has a prime location in Larchmont Village / Hollywood. Situated just south of Melrose Avenue, one of Los Angeles’ world renowned East West throughfares, the subject property is surrounded by affluent neighborhoods, home to expensive residences, as well as trendy restaurants and shops. The subject property is uniquely positioned just south of the barrage of new hotels and residential buildings, plus multi-use complexes like Columbia Square. Columbia Square will add 1.2 million square feet of new office and residential space by 2020. Hollywood is expecting a 68.6% population increase in the central Hollywood Entertainment District and the Sunset & Vine District between 2019 and 2025.

The proposed project is a fully entitled, permits issued and paid for, multifamily development project comprised of 34 units. 30 reserved for market-rate units and 3 VLI affordable units. The project will also include 35 parking spaces on one level of on-grade parking and one level of basement garage. The proposed floor area of the apartment will be 20,920 sf.

The plans utilize a California State Density Bonus, providing 11% affordable (VLI) to receive two incentives: Floor Area Ratio and 20% decrease in anb individual required setback. The property has since qualified for TOC Tier 2, allowing for a developer to resubmit plans for up to 42 units (4 of which being ELI affordable units).

Hollywood has quickly become a multi-generational hub with roughly 37% of GenX Adults (Ages 30-49) mixed with 25% of Adult Boomers (Ages 50-68) and the remaining 37% as the GenY Adults (Ages 18-29). The diverse mix of students, entrepreneurs, residents, and tourists living the Hollywood experience make this a unique opportunity.

4 5 SHOVEL READY 34 UNIT DEVELOPMENT OPPORTUNITY Fully Entitled - Permits Issued and Paid For Shovel Ready TOC Tier 2, allowing for up to 42 units No Constraints from Measure JJJ No Affordabe Housing Linkage Fee SHOVEL READY Ideally located between Larchmont Village, Larchmont Village and Hancock Park MELROSE AVENUE Permits Issued and Paid For

IRREPLACEABLE LARCHMONT VILLAGE / HOLLYWOOD LOCATION Larchmont Village is an affluent trendy community that attracts artists, shoppers, and coffee enthusiasts to its world-renowned Larchmont Boulevard (0.6 miles) 667-671 Tremendous revitalization in neighboring Hollywood over the past decade, 6.2 billion dollars has been invested since 2000 by developers of retail, commercial, 115’ ILTON hospitality and business projects Hollywood is a major destination for visitors and residents alike, approximately 6.1 Larchmont Village million visitors annually Prime Larchmont Village/ W Hollywood location Creative businesses are taking root in Hollywood and neighboring Koreatown due 90’ to its access to the Metro, city life, and live/work spaces Major landmarks include Hollywood & Highland, El Capitan Theatre, Grauman’s Chinese Theatre, Capitol Records Building, and Paramount Pictures Hollywood and Koreatown are neighborhoods of continuing development as it currently has two billion dollars of projects in planning / under construction

STRONG IMMEDIATE DEMOGRAPHICS Average household Income of $72,261 within a five mile radius World-renowned shopping and entertainment amenities Population of 981,023 within a five mile radius WILTON PLACE Strong local economy with significant job growth over a multitude of diverse sectors

6 7 667-671 n Wilton Place - shovel ready

Significant Time and Cost Savings

Entitlement and 10,350 SF of C2-1 Permitting Process Zoned Land Completed Time Value of Money Shovel Ready

10,350 SF OF C2-1 Fully Entitled and Shovel Ready Approximately 2.5 years to 10,350 SF OF C2-1 Zoned Land 34 unit Multifamily complete entitlement and Zoned Land Development permitting process

8 9 300 luxury apartments

LOZ FELIZ

ESSEX Los Angeles ACADEMY 200 units SunWest Film School 293 unit 400K SF Under RISE Mixed Use Mixed Use Construction 369 units Proposed 5420 Sunset Under Project 735 unit Construction Mixed Use Proposed

HOLLYWOOD STUDIO GALLERY 5601 Santa Monica 259K Retail EAST HOLLYWOOD 375 Units HOLLYWOOD Proposed

SANTA MONICA BOULEVARD The Offering VINE STREET WILTON PL PROPERTY SUMMARY

Address 667-671 N Wilton Pl, Los Angeles, CA 90004 GOWER STREET 667-671 Price $3,995,000 ILTON Land Size (SF) 10,350 SF WLarchmont Village Price / SF $385.99

34 unit multifamily development Entitled For: (31 market rate, 3 very low income) MELROSE AVENUE

Price / Unit $117,500

Land Size (Acres) 0.24 Acres LARCHMONT VILLAGE

APN (s) 5522-003-019

Zoning C2-1

TOC Tier 2

10 11 UNIT MIX

No. of Units Type

6 Studio / 1 Bath

27 1 Bedroom / 1 Bath

1 2 Bedroom / 1 Bath

The Project UNIT TYPE SUMMARY 667-671 a high end, shovel ready 34 unit development project Unit Type Type SF ILTON PROPOSED PROJECT A 1 Bedroom / 1 Bath 433 Larchmont Village Proposed Allowed B Studio / 1 Bath 438 W C 1 Bedroom / 1 Bath 489 Base Density - 1 du / 400 SF D 1 Bedroom / 1 Bath 448 Density Bonus 35% 60% E 1 Bedroom / 1 Bath 467 Units 34 28 F 2 Bedroom / 1 Bath 629

Gross Floor Area 20,920 SF 20,958 SF G Studio / 1 Bath 391

Height 55’ No Limit H 1 Bedroom / 1 Bath 534

Front: None Front: None H SIM 1 Bedroom / 1 Bath 614 Setbacks Sides: 8’ Sides: 8’ Rear: 13’7” (20% red.) Rear: 17’ I 1 Bedroom / 1 Bath 38

Parking 34 0.5 spaces / bedroom J 1 Bedroom / 1 Bath 536

Open Space 3,428 SF 3,425 SF 12 13 HANCOCK PARK

LARCHMONT FARMER’S Larchmont MARKET HOLLYWOOD STUDIO GALLERY

LARCHMONT BOULEVARD

Larchmont Village is not only historically significant to Los Angeles HOLLYWOOD but also home to a charming and quaint walkable shopping district LARCHMONT VILLAGE that serves the residents of the area.

Larchmont Village (Larchmont) is a small neighborhood bordered by Hollywood to the North, East Hollywood to the east, Koreatown to the Southeast, and Hancock Park to the west. Larchmont is 667-671 MELROSE AVENUE only a half-square mile and is known for its quaint, old-town shopping street and historic homes. ILTON Larchmont Village is located in one of the oldest and most historically significant neighborhoods 88 units WLarchmont Village in Los Angeles and is bordered by some of the most well preserved homes in the city, ranging under construction from 1920’s California bungalows to grand estates. Larchmont Village is known for its unique architecture. Larchmont Boulevard is home to a quaint and friendly shopping district in the center of Larchmont. As a Main Street retail district to Hancock Park, Windsor Square and nearby Paramount Studios, Larchmont maintains a small town feel and serves as a lovely community gathering place. WILTON PLACE Larchmont has a variety of wonderful family friendly restaurants, sidewalk cafes and upscale boutiques along the block between Beverly Boulevard. It is home to chic and trendy eateries like Cafe Gratitude, Portland based Salt & Straw, Go Get Em Tiger, and others. City offers the perfect combination of smalltown charm, with all the benefits of cosmopolitan big-city living.

Downtown Eateries Include: Akasha. Novecento, AR Cucina, Bacoshop, Roccos Tavern, Rush Street, Public School 310, Tender Greens, Meet in Paris, Wildcraft, Ford’s Filling Station, and Father’s Office.

14 15 FOOD & DRINKS SHOPPING BEAUTY & WELLNESS HEALTH & FITNESS Bardonna Muraya Muraya Bellacures Nail Salon Flywheel Burger Lounge Mr. Holmes Bakehouse Mr. Holmes Bakehouse Blue Mercury Radiance of Life Erin McKenna’s Bakery Noah’s Bagels Noah’s Bagels DMH Aesthetics Yogaworks Go Get Em Tiger Peets Peets Jessica’s From Sunset Jamba Juice Prado Prado Larchmont Barber Shop Jeni’s Ice Cream Pressed Jicery Pressed Jicery Larchmont Beauty Center Kiku Sushi Salt & Straw Salt & Straw MAC Cosmetics Kreation Organic Sam’s Bagels Sam’s Bagels Malin + Goetz Larchmont Bungalow Starbucks Starbucks Larchmont Village Wine, Sweetfin Poke Sweetfin Poke Spirits & Cheese Tacos Tu Madre Tacos Tu Madre Le Pain Quotidien Vernetti Vernetti Le Petit Greek Village Pizzeria Village Pizzeria Louise’s Trattoria SALT & STRAW GO GET ‘EM TIGER W 1ST STREETW 1ST Coffee + Food Bluebird Lemonade Shooknuk Cafe Shooknuk YogaWorks MELROSE AVENUE MELROSE STREETCLINTON Bagels Noah’s Sushi Kiku Prado Salt & Staw Trattoria Louise’s Go Get Tiger Em Fold Above the Larchmont MAC diptyque Bluemercury Trina Turk Trina Starbucks ROSEWOOD AVENUE LARCHMONT BOULEVARD BOULEVARD BEVERLY reation Kafe reation Cafe Gratitude Pop Physique Bellacures Bricks and Scones Chipotle Albert’s Mexican Grill Larchmont Wine Village & Spirits Cheese Burger Lounge Tu Tacos Madre Pressed Juicery Village Pizzeria Greek Le Petit California Roll & Sushi Fish K Sweetfin Poke Sweetfin Flywheel Sports 16 17 THE ROOSEVELT HARD ROCK CAFE Hollywood Where creativity meets culture, a true urban experience.

667-671 N Wilton Place is located just south of Melrose Avenue where Hollywood meets Hancock Park and Larchmont Village. Located in a premier pedestrian location, the asset benefits from easy access to employers, major studios, financial firms, entertainment and historic attractions.

Hollywood has seen a tremendous revitalization over the last decade. An inﬂux of capital dedicated to the revitalization of Hollywood has attracted a new resident base of young urban dwellers. This new, hip client base has brought new restaurants, night clubs, and retail opportunities, making Hollywood one of HOLLYWOOD & HIGHLAND the more desirable submarkets in the greater Los Angeles area.

In the past decade, Hollywood has experienced significant gentrification and development, specifically along Hollywood Boulevard. Most notable is the Hollywood and Highland Center, which includes 75 retailers, several historic theatres along with night clubs, restaurants, movie theatre, and bowling lanes.

Nearly 84.2 percent of all Hollywood residents are currently renters. A significant portion of the population still falls into key renter age groups. Younger age cohorts are expected to post solid growth over the next several years, which bodes well for apartment owners.

$6.8 BILLION $3.2 BILLION Walk of Fame

INVESTED SINCE 2000 COMPLETD PROJECTS

18 19 WALKSCORE

METRO RED LINE The Metro Red Line connects Downtown Los Angeles and North Hollywood via the districts of Hollywood and Mid-Wilshire. In North Hollywood it connects with the Orange Line (bus rapid transit) service for stations to the Warner Center in Woodland Hills and Chatsworth. It also connects to the Metro Purple Line, which reaches 88 Koreatown and Midcity. At Union Station in downtown, passengers can reach West Los Angeles, Pasadena, San Fernando Valley, South Bay, and Long Beach.

Daily errands do not require a car. PEDESTRIAN & TRANSIT ORIENTED

Larchmont Village The location is designated as a “Very Walkable” neighborhood with a “Walkability” score of 88 by WalkScore. com, which means daily errands do not require a car. Melrose and Wilton is 53 a fifteen minute walk from the Metro Red Line at the Hollywood/Highland Station stop.

Beyond boasting Hollywood’s renowned landmarks such as the Dolby Theatre, Pantages Theatre and El Capitan Theatre, Hollywood is home to dozens of restaurants, world class retailers and museums. 6266 W. Sunset Many nearby public transportation options Boulevard is within a few blocks of the following attractions:

HOLLYWOOD CULTURAL AMENITIES HOLLYWOOD RETAILERS TCL Chinese Theatre Walgreens El Capitan Theatre Target The Hollywood Bowl Trader Joe’s Hollywood Palladium Hollywood Farmer’s Market 67 Dolby Theatre RESTAURANT/NIGHTLIFE OPTIONS GROCERY STORES ArcLight Cinemas Trader Joe’s Redbury Hotel Food 4 Less W Hotel Gelson’s Market Larchmont Vilage Very Bikeable Roosevelt Hotel Pavilions Hard Rock Cafe 20 21 22

ENTERTAINMENT CAPITAL Things to include must-see do in Hollywood shows and attractions, celebrity- experience. Angeles the Los of is Hollywood part an essential For millionsvisitors, of other intheuniverse. for who those dream big-screen The cultural epicenter the of andabeacon movie industry nightlife at Lucky Strike Nightclub. andOHM Lanes & Busters, Trastevere Ristorante, Wabo Cabo Kitchen, California Pizza Cantina, and and fast-casual restaurants such as The Grill Hard on Hollywood, Dave Cafe, Rock Hot Topic, Oakley, Skechers andLucky Brand Visitors Jeans. 25 canenjoy full-service L’Occitane, Victoria’s andMAC Secret to quintessential California stores like GAP, the Academyhome of Awards® andoverbrand-name 70 retailers from LouisVuitton, history, inHollywood Steeped this destination iconic also features Theatre, the Dolby premieres andcelebrated live theatre the it’s ultimate destination entertainment With beginning. for world-class aHollywood red movie carpet shopping anddining, TCL Theatre, Chinese formerly Grauman’s, place &Highland Hollywood is the perfect alike.locals Steps away from landmarks like the world famous Walk Fame of and for tourists & HighlandHollywood Angeles and is center Los the entertainment of the world. of discovering capital the entertainment and start Thai nearby cuisines of Town Armenia. andLittle hotels Search Hollywood for the best andrestaurantsshops at &Highland Hollywood Center, multicultural orthe delicious blowing “Transformers: The Ride3-D.” things to Other includethe doinHollywood Universal Studios is Hollywood aworld famous theme park that the mind- includes Theatre Dolby is hometo the Academy The Awards. state-of-the-art for years. over 50 TCL Theatre Chinese Walk orthe Hollywood Fame, which of has honored celebrities frequented Tinseltown restaurants, andworld glamour at class Experience hotels. The entertainment capital of the world. of capital The entertainment emerges. Hollywood of is memorialized definition andanew yesteryear of The Hollywood andsought-after experiences Live for the curious entertainment ortourist. local Theatre,Dolby to host the academy awards. eccentricity, includingthe Destinations Hollywood’s andhistory defining style,

●

A place like no a few. a Judy Garland andJack Nicholson, to name including John Wayne, Marilyn Monroe, and footprints numerous of legends, screen containing hand famous cement forecourt attractions its Oneof premieres. film is the Grauman’s Theatre Chinese many -hosts in the outdoor amphitheater.in the outdoor yourfavoritecan see musicians and bands A stunning landmark Hollywood where you Grauman’s Theatre Chinese Hollywood BowlHollywood Awards the permanent first the Academy homeof as the globe across than people onebillion thereaftersoon known became to more seat theatre and in November 2001 opened &HighlandHollywood Center. The 3,400 TheatreDolby -is the crown the jewel of at the park. Oschin Planetarium. Angeles Views Los of andliveshows at the Samuel Exhibits Dolby TheatreDolby Griffith Observatory Griffith events shows, world andother premieres, special El Theatre Capitan livestage which hosts theatre,El Theatre Capitan -Alegendary and artisanal food products. products. food and artisanal Weekly farmers market with fresh produce El Theatre Capitan Farmer’s Market dance performances andconcerts. dance performances motif,deco andfeatures Broadway musicals, Pantages Theatre art for its is recognized A large vinyls. andmassive of inventory Amoeba MusicAmoeba Pantages Theatre 23 NEUEHOUSE NOTABLE BUSINESSES

CAVIAR LA Caviar is an award-winning entertainment company in LA, London, Brussels, Paris + Amsterdam. Entertaining 2MILLION SF audiences, wherever they are. SUNSET GOWER STUDIOS OF OFFICE SPACE Hollywood’s largest independent television and movie studio has 12 soundstages on a 14-acre facility. 700,000 SF NEUEHOUSE UNDER CONSTRUCTION A hybrid coworking facility and social club aimed at enterprising creative professionals. CAPITOL RECORDS Since 1956, the landmark building has hosted West Coast operations for the top record label. TRAILER PARK Media and entertainment marketing powerhouse has 440 9,593 employees. MAJOR EMPLOYERS 1.2 MILLION J2 GLOBAL TOTAL DAYTIME EMPLOYERS NASDAQ listed cloud services and digital media network SF IN DEVELOPMENT company Hollywood beneﬁts from its proximity to a wide variety of major employers. In the immediate EMPLOYER EMPLOYEES DISTANCE* area are Capitol Records, Paramount Pictures, Kaiser Permanente, Hollywood Presbyterian AT&T 500 0.3 Medical Center, Ticketmaster, Universal City Studios, Disney and Warner Bros. As such, Church of Scientology 2,000 0.4 residents have easy access to myriad jobs in the entertainment industry as well as the health Capitol Records 600 0.4 care sector. Additionally, Hollywood offers easy commutes to major nearby employment hubs Color by Deluxe 626 1.3 in Downtown Los Angeles, West Los Angeles, and the San Fernando Valley. Paramount Pictures 1,700 1.4 Kaiser Permanente Medical Center 3,000 1.8 Hollywood Presbyterian Medical Center 1,250 2.2 Fire Insurance Exchange 2,300 2.7 Los Angeles City College 1,800 2.7 Farmers Insurance 3,000 2.8 Guardian Eagle Security 500 2.8 Ticketmaster 1,300 3.4 Universal City Studios 2,000 3.7 Technicolor 600 4.2 Agile brands 1,000 4.3 Shell Oil 560 4.3 Disney 500 4.3

24 25 ICON COLUMBIA SQUARE More than a dozen major projects are slated for development over the next few years, transforming Hollywood into a major worldwide destination.

With recently completed, ongoing and planned developments that total DREAM HOTEL approximately $7.4 billion, Hollywood is experiencing incredible residential, Dream Hotels is working on its first West Coast outpost on commercial, and infrastructure growth. The office market in the immediate Selma right now. The 10-story hotel will hold 179 guest rooms, area is strong, with companies such as Nickelodeon, Nielsen, BuzzFeed, a double-height lobby, a rooftop with a pool, two onsite OpenTable, Fender, Paramount Pictures, Live Nation, Capitol Records, pools, and a landscaped "public alley" outside. The hotel’s CNN, and Viacom all currently having an office presence. design comes from heavyweights Rockwell Group, which also designed the private coworking club Neuehouse in Netflix, the streaming movie and TV giant, plans to move its Southern Hollywood’s Columbia Square project. California operations from Beverly Hills to Hollywood by 2017 and expects to occupy 200,052 SF at the $200 million ICON complex at 5800 West Sunset Boulevard. The deal is the largest office lease signed in Hollywood to date in terms of square footage. In addition, new hotels are currently being developed including the Thompson Hollywood Hotel, a 12 story hotel including restaurant space and a rooftop lounge.

This development, as well as the many others either approved or currently DREAM HOTEL ICON under construction, will continue to drive educated professionals to the area who are attracted to the “live/work/play” environment that Located on a four acre site at the northeast corner of Sunset Hollywood offers. Bronson Studios lot, ICON will be a 14-story, Class A office tower adjacent to a new five-story creative and production office building called “Cue” and a 1,600-space parking structure. Located in the heart of Hollywood and West COLUMBIA SQUARE Hollywood-Burbank media corridor just one block west Columbia Square, a mixed-use project located down the block from 6266 of the 101 Freeway and minutes from the Hollywood/Vine West Sunset Boulevard was recently completed and includes a 22-story LA Metro Red Line station, the vertical campus features residential tower, 200 apartment units, 100 extended-stay hotel units, innovative design by Gensler Architects and state-of- 93,000 SF of office space, and 30,000 SF of retail and restaurant space. the-art building systems expected to achieve LEED gold Current office tenants include Viacom and Neuehouse, a coworking space. certification. In addition to unique access to a full-service The residential tower is called the The Proper and features luxury furnished production facility and studio lot, potential tenants will and unfurnished residences that were designed by Kelly Wearstler. appreciate the 24,000-square-foot floor plates, 45-square- foot column free spans, 14-foot ceilings, floor-to-ceiling windows with panoramic views and terraced balconies on multiple floors. DEVELOPMENT

26 27 COLUMBIA SQUARE 28

DEVELOPMENT ESSEX HOLLYWOODESSEX (NICKELODEUN SITE) open space. space. open and surrounded and retail space, public by residences, building holdingacombination hotel rooms, of Capitol Records Building with a35-and39-story would the flank The Millenniumproject Hollywood THE MILLENIUM planning onrestoring the facade. is studio production andEssex aNickelodeon TV houses The theatercommercial space on the along Sunset. ground level andhaveapartments), approximately 4,700 of square feet andtwo-bedroom (astudios of and one- units mix will hold200 structure the seven-story Harley by EllisDesigned Devereaux, (NICKELODEON SITE) CARROLL THEATRESEARL THE MILLENIUM lounge that shares the rooftop with apenthouse. 13,000 street-level of restaurant square feet space andabar/ will include Hollywood the making.Thompson The 220-room hotel plannedhereThe 12-story turns in to aThompson be out HOLLYWOODTHOMPSON HOTEL THOMPSON HOTELTHOMPSON 29 $101,181 981,023 416,123 Average HH income Daytime Population Households within 1-m radius within 3-m radius within 5-m radius

21% 79% 2.32 DEMOGRAPHICS Owner Occupied Housing Renter Occupied Housing Households within 5-m radius within 5-m radius within a 5-m radius

Hollywood is a community of students, 1 MILE 3 MILES 5 MILES entrepreneurs, residents, and tourists living the 2018 Population 40,245 314,100 927,408 authentic Hollywood experience. 2018 Households 21,980 153,329 402,518 2018 Average Household Size 1.80 2.02 2.24

Continued demand for residential properties is driven by local jobs, 2018 Daytime Population 45,269 228,158 487,908 educational institutions and accessible public transit. 2018 Owner Occupied Housing Units 22.42% 28.35% 25.14% Large mixed-use projects are serving residents who take advantage of Hollywood’s walk-friendly neighbors. 2018 Renter Occupied Housing Units 7 7.58% 71.65% 74.86% A population increase of 68.6% is estimated for the years 2015 to 2020. 2018 Vacant 2.51% 2.78% 3.10% Diverse mix with 37% of GenX adults (ages 30-49), 25% adult boommers 2018 Median Household Income $65,893 $54,984 $44,968 (50-68), and 37% Gen Y (ages 18-29) adults 2018 Per Capita Income $55,535 $46,971 $36,083

2018 Average Household Income $101,181 $95,827 $82,060

30 31 667-671 ILTON SALES COMPARABLES WLarchmont Village LAND

32 33 Sales Comparables - LAND

PROPOSED # ADDRESS PRICE LOT SF ZONING TOC $/SF $/UNIT COE DATE NOTES UNITS

Subject Property Fully Entitled 667-671 N Wilton Pl $3,995,000 10,350 C2 Tier 2 34 $385.99 $117,500 - (Shovel Ready) Los Angeles, CA 90004

52 unit mixed use 5570 Melrose Ave apartment. 1 $7,000,000 18,722 C2 & R3 N/A 52 $373.89 $134,615 Apr 12, 2018 Los Angeles, CA 90038 1-year escrow for entitlements

Entitlements were 4918-4920 Melrose Ave 2 $4,500,000 13,488 C2 Tier 3 48 $333.63 $107,143 Mar 5, 2018 approved for 48 units and Los Angeles, CA 90029 4.000 sf of commercial. 4

3 5 4760-4766 Melrose Ave Entitlements were 2 3 $3,250,000 9,993 C2 Tier 1 33 $325.23 $98,485 Jun 8, 2018 1 Los Angeles, CA 90029 approved for 33 units 6

Short term leaseback 843 N La Brea Ave during the entiitlement 4 $5,200,000 10,454 C4 Tier 3 50 $497.42 $104,000 Dec 7, 2018 Los Angeles, CA 90038 process. Purchased by a non profit affordable house

700 N Virgil Ave No entitlements or permits 5 $5,250,000 16,866 C1 Tier 3 38 $311.28 $138,158 Jun 28, 2019 Los Angeles, CA 90029 at close of escrow.

Average $368.29 $116,480

34 35 Sales Comparables - LAND

SUBJECT PROPERTY 1 5570 MELROSE AVE 4 843 N LA BREA AVE Sale Price $3,995,000 Sale Price $7,000,000 Sale Price $5,200,000 Lot SF 10,350 Lot SF 18,722 Lot SF 10,454 Zoning C2 Zoning C2 & R3 Zoning C4 TOC Tier 2 TOC N/A TOC Tier 3 Units 34 Units 52 Units 50 $/SF $385.99 $/SF $373.89 $/SF $497.42 $/Unit $117,500 $/Unit $134,615 $/Unit $104,000 COE Date - COE Date 4/12/2018 COE Date 12/7/2018 Fully Entitled (Shovel Notes 52 unit mixed use Short term leaseback during Ready) Notes apartment. 1 year escrow the entiitlement process. Notes for entitlements Purchased by a non profit affordable house developer

2 4918-4920 MELROSE AVE 3 4760-4766 MELROSE AVE 5 700 N VIRGIL AVE Sale Price $4,500,000 Sale Price $3,250,000 Sale Price $5,250,000 Lot SF 13,488 Lot SF 9,993 Lot SF 16,866 Zoning C2 Zoning C2 Zoning C1 TOC Tier 3 TOC Tier 1 TOC Tier 3 Units 48 Units 33 Units 38 $/SF $333.63 $/SF $325.23 $/SF $311.28 $/Unit $107,143 $/Unit $98,485 $/Unit $138,158 COE Date 3/5/2018 COE Date 6/8/2018 COE Date 6/28/2019 Entitlements were Entitlements were No entitlements or permits at Notes Notes Notes approved for 48 units and approved for 33 units close of escrow. 4.000 sf of commercial.

36 37 667-671 ILTON RENT COMPARABLES WLarchmont Village MULTIFAMILY - NEW CONSTRUCTION

38 39 Rent Comparables RENT SURVEY MULTIFAMILY (NEW CONSTRUCTION)

# ADDRESS CITY ZIP CODE TYPE AVG RENT AVG SF $/SF YEAR BUILT Studio $2,545 595 $4.27 $2,490 Broadstone Candara 1 Los Angeles 90038 1 Bedroom $2,650 753 $3.52 2015 738 Wilcox Ave AVERAGE STUDIO RENT 2 Bedroom $3,610 989 $3.65

Studio $2,699 609 $4.43 Angelene 2 Los Angeles 90038 1 Bedroom $3,137 753 $4.16 2016 915 N La Brea Ave 2 Bedroom $3,866 1,040 $3.72

The LC by CLG 1 Bedroom $3,200 748 $4.27 3 Los Angeles 90038 2015 710 N El Centro Ave 2 Bedroom $3,650 953 $3.83

Studio $2,225 512 $4.35 $2,995 The Micropolitan 4 Los Angeles 90038 1 Bedroom $2,995 730 $4.27 2017 5825 Camerford Ave AVERAGE ONE BEDROOM RENT 2 Bedroom $3,650 953 $3.83 2 4 Average $4.05 1 3

1 2 3 4

$3,694 AVERAGE TWO BEDROOM RENT

40 41 MCDERMOTTGROUP MULTIFAMILY | LAND

667-671 ILTON WLarchmont Village

LONNIE MCDERMOTT First Vice President Investments Senior Director, National Land Group Tel: (818) 212-2745 Fax: (818) 212-2710 [email protected] License: CA: 01874375