1422 Tamarind Ave Hollywood, CA 90028 Presented By

Home , Sunset Gower Studios

Offering Memorandum 1422 Tamarind Ave Hollywood, CA 90028 Presented By:

Kenny Stevens 310.963.7851 [email protected] DRE 01090251 1422 Tamarind Ave Hollywood, CA 90028

LOCATION OVERVIEW

Neighborhood Overview Hollywood Developments Property Location

PROPERTY SUMMARY

Property Details Property Highlights Photography

FINANCIALS

Rent Comps Rent Roll Financial Overview Sales Comps Loan Quote A Neighborhood That Needs No Introduction

HOLLYWOOD, CALIFORNIA: DEVELOPMENTS: Sunset Bronson Studios - 5800 Sunset Blvd Los Angeles, CA 90028 1422 Tamarind Ave, is located in the booming, culturally rich neighborhood of - 200,000 square feet of office space. Main Tenant: Netflix Hollywood. The recent revitalization of Hollywood, long in the making, is now in full swing. Major entertainment and tech companies like Netflix & Viacom are now Columbia Square - 6121 Sunset Blvd Los Angeles, CA 90028 embracing the neighborhood. Just in the past 12 months, more than 7,500 new jobs - 420 million office, residential & retail mixed use complex. Main tenants: were created in Hollywood. VIACOM (MTV, BET, Comedy Central) (10,000 employees), Fender (2000+ employees Hollywood is one of those neighborhoods that needs no introduction, synonymous as it is with the city of Los Angeles itself. Because of its history and famous sites like the Siren Studios - 6087 Sunset Blvd Los Angeles, CA 90028 Hollywood Walk of Fame, it has always attracted hordes of tourists, but now it has - Plans to replace existing 70,000 sq. ft of office space with up to 350,000 sq. ft. become the epicenter of new Class A office campuses in Los Angeles. Developers are of live/work space creating millions of sq. ft. of Class A office space and thousands of new luxury rental units. Old Hollywood is stepping in too, with Paramount Pictures recently winning “Epic” - 5901 Sunset Blvd Los Angeles, CA 90028 approval for a 1.4 million-square-foot studio expansion. Companies specializing in - (under construction) - 15 stories, 300,000 square feet of office space streaming media and virtual reality are now flocking towards Hollywood. Hollywood is also one of the most populated areas for schools, with a wide range of Sunset Gower Studios - 6050 W. Sunset Blvd Los Angeles, CA 90028 colleges and specialized programs like AMDA (American Musical & Dramatic Academy), - (under construction) - Additional 628,000 square feet of production space Emerson College, the Musicians Institute, and AFI, situating themselves in Hollywood. In the past two years there has been a spike in the number of college students relocating “The Lombardi” 1717 Bronson Ave Los Angeles, CA 90028 to Hollywood. - (construction to begin early 2018) - 89 unit, luxury rental apartment complex

New restaurants and hotels are also setting up shop in Hollywood in response to the ICON Building - 5800 Sunset Blvd, Los Angeles, CA 90028 growing tech & entertainment boom such as TAO, The Dream Hotel, and Beauty & Essex. - (construction to begin early 2018) - 89 unit, luxury rental apartment complex An astonishing number of additional apartments like The ICON building & The Lombardi will be built over the next decade. There is much more activity in Hollywood, reminding everyone that the evolving industry has returned to its roots. The future of what will be is brighter than ever. 170 Lankershim Boulevard 5 Valley Village W Alameda Avenue W Alameda Avenue

W Olive Avenue Los Angeles Zoo 101 101 134 5 Studio City Toluca Warner Brothers Laurel Canyon Boulevard Lake Studio

Universal City

Hollywood Sign 101

Hollywood Hills

1422 Tamarind Ave Griffith Observatory Greek Theatre

Lake Hollywood Hollywood Bowl

Los Feliz Boulevard Los Feliz Runyon Canyon Hollywood Boulevard Little Armenia

Hollywood Fountain Avenue N Western Avenue

Sunset Strip Santa Monica Boulevard 2 West Hollywood N Virgil Avenue La Cienega Boulevard

Melrose Avenue 101 Paramount Pictures Fairfax Studio Sunset Boulevard Beverly Boulevard N Wilton Place Beverly Hills

Beverly Grove Location Overview

Conservatively 31% Heart of Hollywood Minutes from Hollywood & Units 20 Ground floor upside in rents location, south of Sunset Vine, Metro Stations, and average parking units have large and just east of Gower the 101 Freeway 835 sq. ft. spaces enclosed patios

Property Summary

PROPERTY DESCRIPTION PROPERTY DETAILS 1422 Tamarind Ave, this 17-unit apartment community is 17 located just South of Sunset Blvd, in the neighborhood of Hollywood. Walking distance to a myriad of coffee shops, Units restaurants, theaters, and colleges. Walking proximity to over 1m square feet of brand new office space. Directly across Sunset Boulevard from Sunset Gower Studios. The property features 14,244 square feet of rentable area, situated on a large 12,999 & Fountain Ave square foot lot zoned LAR4. This 17 unit building is comprised Major Intersection of (4) two- bedroom, two-bathroom units, (12) one-bedroom, one- bathroom units, and (1) studio unit. The building has been well maintained and includes a beautifully landscaped Hollywood central courtyard. Approximately 20 parking spots included Market in the property. 5545-015-050 APN

LAR4 Zoning Type

14,244 Sq Ft Building Sq Ft

12,999 Sq Ft Lot Size Sq Ft Financials

Hollywood Rental Price Average $3,077 According to research provided by Zillow, the average Hollywood rental price is $3,077, a 28% increase compared to 2015, when the average rent was $2,400. Rents are likely to continue to increase as the revitalization of Hollywood now in full swing. In just the past 12 months, more than 7,500 new jobs were created in Hollywood. Financials

Financial Overview $5,065,000 Current Market Move-in Unit # Unit Type Rent Rent Date

1 1 + 1 $1,750 $1,950 10/1/2018 2 1 + 1 $1,114 $1,950 1/1/2011 3 1 + 1 $1,500 $1,950 5/12/2014 4 2 + 2 $2,400 $2,650 4/15/2017 5 2 + 2 $1,966 $2,650 9/23/2013 6 1 + 1 $1,950 $1,950 7 1 + 1 $842 $1,950 1/1/1989 8 1 + 1 $1,750 $1,950 3/20/2018 9 1 + 1 $842 $1,950 7/1/1991 10 1 + 1 $1,700 $1,950 10/9/2017 11 1 + 1 $1,420 $1,950 4/16/2013 12 2 + 2 $2,200 $2,650 10/1/2017 14 1 + 1 $1,750 $1,950 10/1/2018 15 1 + 1 $1,550 $1,950 9/30/2016 16 1 + 1 $1,650 $1,950 11/11/2016 17 Single $859 $1,695 3/15/2006 18 2 + 2 $2,300 $2,650 3/12/2018

Storage #1 N/A $300 $300 4/28/2016 Storage #2 N/A $200 $200 3/29/2013

Laundry $170 $170

MONTHLY TOTAL: $28,213 $36,365

ANNUAL TOTAL: $338,556 $436,380 Comparables – Rental Comps

Property Photo

Address 3317 Barham Boulevard 3387 Barham Boulevard 3600 Barham Boulevard 2700 Cahuenga Boulevard 6736 Hillpark Drive 3055 Hollycrest Drive Los Angeles, CA 90068 Los Angeles, CA 90068 Los Angeles, CA 90068 Los Angeles, CA 90068 Los Angeles, CA 90068 Los Angeles, CA 90068

Rent $2,050-$2,500 $2,500 $2,185 $2,900 $2,500 $2,000

Unit Type 1+1 1+1 1+1 1+1 1+1 1+1

Renovated Renovated top floor Renovated unit with apartment with unit with vaulted ceilings Updated unit with 1 parking space, deck, stainless steel and exposed wood Large renovated hardwood floors, new appliances and appliances, and beams. One covered unit with den and arched doorways, Notes Subject property washer/dryer washer/dryer garage parking space 1 parking space unique built-ins. 101

6 8

2 1 1422 Taramind Avenue

5 101

Tamarind Avenue — Rentals

1 1439 Tamarind Avenue 3 1523 Gordon Street 5 6556 La Mirada Avenue 7 1317 North Bronson Avenue

2 1455 North Bronson Avenue 4 5812 Virginia Avenue 6 1757 North Kingsley Drive 8 6128 Carlos Avenue Comparables – Sales Comps

Property Photo Address Sale Price COE Date # of Units Price Per Foot Building Sq Ft Price/Unit Year Built Unit Mix

1422 Tamarind Ave $5,065,000 — 17 $356 $362,500 $362,500 1948 (4) 1+1 Hollywood, CA 90028

1163 N Kingsley Dr $3,171,950 6/16/17 7 $462 6,867 $362,500 1948 (4) 1+1 Los Angeles, CA 90029

2062 Argyle Ave $2,950,000 11/9/17 7 $519 5,686 $362,500 1948 (4) 1+1 Los Angeles, CA 90068

2136 N Beachwood Dr $3,055,714 6/2/17 8 $503 6,071 $362,500 1948 (4) 1+1 Los Angeles, CA 90068

3317 Barham Boulevard $3,825,000 5/5/17 11 $373 10,224 $362,500 1948 (4) 1+1 Los Angeles, CA 90068 4 2

1422 Taramind 5 Avenue 3

Tamarind Avenue — Solds

1 1163 North Kingsley Avenue 3 6241 Afton Place 5 5645 Fernwood Avenue

2 2062 Argyle Avenue 4 2136 North Beachwood Drive Financials

Loan Quote For more information, please contact:

Kenny Stevens 310.963.7851 [email protected] DRE 01090251

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number DRE 01991628. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.