138 N. SAN FERNANDO ROAD Los Angeles, CA 90031 FOR SALE | CANNABIS DISPENSARY RETAIL INVESTMENT IN LINCOLN HEIGHTS

N SAN FERNANDO RD

MICK MOODY Associate License No. 01972547 [email protected] PROPERTY DETAILS

138 N. San Fernando Road, ADDRESS:: Los Angeles, CA 90031

APN: Parcel Number: 5447-014-024

ASKING PRICE: $1,450,000 ($299/SF)

TOTAL BUILDING SF: +/- 4,844 SF

TOTAL LAND SF: +/- 7,287 SF

ZONING: Urban Village (CASP)

CURRENT USE: Cannabis dispensary

YEAR BUILT: 1952

OCCUPANCY: 100%

2 PROPERTY HIGHLIGHTS AVENUE 21

+/- 4,884 SF of retail/industrial flex space

Located in City of LA Commercial Cannabis Overlay (buyer to verify with city)

3 1 Multiple potential cannabis uses allowed 4 2 5 with zoning (buyer to verify with city)

Prime frontage on busy North SAN FERNANDO ROAD San Fernando Road

Located in the rapidly gentrifying Lincoln Heights neighborhood

In-place income with tenant known to pay on time (dispensary)

FLORENCE AVE.

Colliers International | Page 3 FINANCIAL OVERVIEW

CURRENT RENT ROLL

Leased Base Rent / Address Tenant Expiration Increases SF Month $6,500/month starting 8/1/2019 138 N. San Fernando Tree Top LA 4,844 $6,000 7/31/2019 Road $7,000 / month starting 8/1/2022

*Lessee will have the option to extend the term of this Lease for two (2) additional thirty six (36) month periods.

LANDLORD EXPENSES

Utility Estimated Cost / Month

Property Taxes (75%): $134.69

*Buyer to confirm all numbers during Due Diligence

4 N AVENUE 21

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Pasadena Ave

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N SAN FERNANDO RD Colliers International | Page 5 RECENT SALES COMPS MAP

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6 RECENT SALES COMPS

SALES COMPARABLES

# ADDRESS SALE DATE PRICE BLDG SIZE (SF) PRICE PSF USE/ZONE

138 N. San Fernando Rd. $1,450,000 4,844 $299 Retail/Industrial/Specialty

1 108 N. San Fernando Rd. N/A $779,000 2,390 $325 Industrial

2 1301 N. Broadway 5/29/2018 $2,150,000 7,939 $271 Industrial

3 4100 N. Figueroa 3/30/2018 $1,500,000 7,000 $214 Industrial

4 1846 Sichel Street 3/8/2018 $1,205,000 5,000 $241 Industrial

5 1311 N. Main Street 8/18/2017 $1,700,000 5,332 $319 Industrial

WEIGHTED AVERAGE: $265

* Source: CoStar, Landvision, Zimas, outside brokers

Colliers International | Page 7 CANNABIS SALE COMPS

2219-2225 Long Beach Ave, Los Angeles, CA 90058

2219-2225 Long Beach Ave, Los Angeles, CA 90058 - Sold for $2,100,000 ($357/SF) on 2/02/2018 - 5,873 square-foot warehouse building - Single tenant - Usage: cannabis cultivation - *Buyer intends to use the space

1459 S. Lorena Street, Los Angeles, CA 90023

1459 S. Lorena Street, Los Angeles, CA 90023 - Sold for $2,250,000 ($313/SF) on 3/20/2018 - ± 7,169 SF of development land - Single tenant - Usage: cannabis cultivation - *Buyer intends to lease the space to growers

8 LINCOLN HEIGHTS OVERVIEW

CENTRAL TO LARGE EMPLOYERS Lincoln Heights, the single oldest suburb of Los Angeles, is a largely residential neighborhood. Few large businesses have set up shop in the immediate area, with one notable exception: Fast-fashion retailer Forever 21 opened its 1.9-million-square-foot distribution, e-commerce and warehouse facility on Mission Road in Lincoln Heights just six years ago and today employs upwards of 300 people locally. Though the 2.5-square-mile neighborhood is short on big employers inside its limited borders, its central location and easy access to transit mean its residents find employment all across Los Angeles, from Pasadena to Downtown and as far as Hollywood. Several major hospitals and medical centers, as part of the University of Southern California’s Health Sciences Campus, operate in close proximity to Lincoln Heights and include the LAC+USC Medical Center, the Keck Hospital and School of Medicine and the USC Norris Comprehensive Cancer Center and Hospital. Yet another teaching hospital, White Memorial Medical Center, also employs and serves Lincoln Heights residents.

RECREATIONAL PARADISE 138 N. San Fernando Road sits in an enviable position in Los Angeles, with endless options for recreational and artistic pursuits in and around Lincoln Heights. Two significant parks border the neighborhood: N SAN FERNANDO RD Elysian Park, the oldest and second biggest park in Los Angeles with 600 acres of greenery; and Los Angeles State Historic Park, a smaller but history-laden area fondly remembered as the Cradle of Los Angeles, Dodger Stadium, the largest in major LINCOLN HEIGHTS OVERVIEW

An up-and-coming area, Lincoln Heights has also long been a respite for artists seeking the space and the financial freedom to be creative. Since 1982, artists have rented live/work space in industrially zoned buildings in the area in what’s now known as the Brewery Arts Complex, a former Pabst Blue Ribbon Brewery. Meanwhile, the Lacy Street Production Center, a 2-acre warehouse complex built in Lincoln Heights in 1885, has been used as a film soundstage for more than three decades for films including “L.A. Confidential,” “Catch Me If You Can” and “Saw.” The property recently sold to Buck Design, a collective of directors, producers, digital artists, graphic designers, illustrators and animators.

TRANSIT-ORIENTED LOCATION Walking distance from the Lincoln/Cypress Station on the Metro Gold Line, 138 N. San Fernando Road fits the bill for what the City of Los Angeles defines as “transit-oriented.” As such, many invaluable incentives are available to prospective developers for larger properties in the area, including higher residential density allowances and lower parking requirements. For some patrons, 138 N. San Fernando Road’s proximity to the metro station will be extremely convenient. Aside from the area’s rich artistic and cultural heritage and a growing list of amenities, many are drawn to the neighborhood by its central location and ease of access to most major L.A. communities.

N SAN FERNANDO RD 10 AMENITIES

Amenities Development Pipeline 1 Dodgers Stadium 1 Chinatown Station 2 Homegirl Café & Bakery 2 Chinatown Lofts 3 Phillipe the Original 3 1251 N. Spring 4 LA Brewery Art Complex 4 Johnson Fain Project 5 Highland Park Brewery 5 Barranca Studios 6 Chimney Coffee 6 Lincoln Heights Jail 7 Nicks Café 7 Fifteen Group 138 N. San Fernando Rd 8 Strong Sports Gym 8 Columbia Mills 1418 N. Spring (Creative Ortiz Bros. 9 9 Office) 10 Bi-rite Development 10 Apotke LA 11 Broadway & Thomas 11 majordomo Work Space 12 The 14th Factory Pacific Alliance Medical 13 LA Kitchen 1 Center 14 Footsies 2 Homeboy Industries 15 Starbucks 3 The Mill 16 Heirloom LA 4 Disney Creative Office 17 Antigua Coffee 5 Rockstar Studios 18 The Home Depot 6 KGB Studios 19 B Twenty Four 7 Windish Agency 20 The Airliner 8 Avenue 17 Studios 21 CVS 9 Forever 21 HQ 22 King Taco 10 Keck Hospital of USC 23 The Heights Deli 11 LAC + USC Medical Center 24 San Antonio Winery Transportation Existing Residential Parks & Green Space Utilities 1 Union Station 1 ALTA Lofts Los Angeles State Historic 1 Park 1 East West Bank 2 Metro - Chinatown 2 Lacy Studios 2 LA River 2 Bank of America 3 Metro - Lincoln & Cypress 3 Camino Al Oro 3 Downey Recreation Center 3 USA Gasoline 4 Metro - Heritage Square 4 Puerta Del Sol 4 Lincoln Park/Skatepark 5 5 Freeway 5 Tesoro Del Valle N SAN FERNANDO RD 4 Arco Lacy Street Neighborhood 6 110 Freeway 6 Brewery Lofts 5 5 US Postal Service Park Colliers International | Page 11 COLLIERS INTERNATIONAL MICK MOODY 865 S. Figueroa Street Associate Suite 3500 License No. 01972547 Los Angeles, CA 90017 [email protected]

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