OFFERING MEMORANDUM

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3171 LOS FELIZ BOULEVARD  LOS FELIZ, CA 90039 CONFIDENTIALITY AND DISCLAIMER 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 Monteleone Real Estate, Inc. and it should not be made available to any other person or entity without the written consent of Monteleone Real Estate, Inc.. 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 Monteleone Real Estate, Inc..

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 MIKE MONTELEONE, BROKER, CCIM, CRS Monteleone Real Estate, Inc. substitute for a thorough due diligence investigation. Monteleone Real Estate, Inc. has 818-917-1789 Cell not made any investigation, and makes no warranty or representation with respect to the CalBRE#00404713 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 [email protected] presence or absence of contaminating substances, PCBs or asbestos, the compliance www.TheMonteleoneGroup.com 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, Monteleone Real Estate, Inc. has not verified, and will not verify, any of the information contained herein, nor has Monteleone Real Estate, Inc. 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

BROKER OF RECORD 6355 TOPANGA CANYON BLVD #100, WOODLAND HILLS, CA 91367 CAL BRE ##01220309

New on the Market! Very Desirable Professional Office Building in OFFERING PRICE $16,800,000 Excellent Los Feliz location offers a

ADDRESS 3171 LOS FELIZ BOULEVARD great opportunity for Investors

CITY STATE LOS FELIZ, CA 90039

UNITS 63

YEAR BUILT 1982

GROSS SF 27,986

LAND SIZE 21,224

PARCEL # 5594-019-013

ZONING QC4-1-1XL-RIO-POD

CONSTRUCTION Masonry Wood

ROOF TYPE Flat Built-up Composition

STORIES 3

PARKING 60 Tuck-Under Spaces

63- U N I T M U L T I - TENANT OFFICE BUILDING :: LOS FELIZ, CA 90039 4 This Attractive Contemporary Style Professional Office Building is approximately 27,986 sf on approximately 21,224 sf of land. The property is in particularly good condition and currently has 63 Small New on the Market! Very Desirable Professional Office Private Offices to better utilize space. Most offices are 100sf to 900sf Building in Excellent Los Feliz location offers a great and a few at 1,100sf to 2,250sf which provides an Ideal layout with opportunity for Investors. Excellent Demographics, Frontage private office design during this Covid-19 period. and Visibility. Currently 82% occupied during COVID-19 with many long-term tenants. This property has upside potential in rents plus many possibilities for future development. (Buyers There are also Major Wireless tenants with rooftop facilities. Many to rely solely on their own experts and professionals to long-term tenants are now month to month and only a few with 2 years perform their due diligence, inspections and evaluations remaining. This 3-Story Professional Building has 60 parking spaces at regarding zoning and use). Flexible Zoning: Q C-4 1XL -RIO- ground level with access from Los Feliz Blvd and the alley. There are 3- POD and located within the Enterprise Zone and Atwater electric iron gates plus an additional parking lot at the rear for 10 cars. Village District. Valet services are provided.

All offices are on 2nd and 3rd floors and there is a 3-stop passenger elevator at the lobby entry. The common areas include interior corridors, stairways, storage rooms, electrical & telephone rooms as well as public rest rooms for men and women.

Additional amenities include 8-surveillance cameras, 2 outdoor patios, private balconies, kitchen facilities and guest lobby areas. Easy access to the 5 and 134 freeways plus close to Glendale, and downtown . , Los Angeles Zoo, Botanical Gardens and the Greek Theatre are also nearby. Seller has located his up leg and buyer to cooperate with seller in a 1031 Tax Deferred Exchange.

63- U N I T M U L T I - TENANT OFFICE BUILDING :: LOS FELIZ, CA 90039 5

N

DARLA’S DOG WASH

KAILYN’S HAIR SALON

ACUPUNCTURE

ADRIAN’S CLEANERS

I NEED TICKETS

THE MORRISON

GIAMELA’S

POTTED

LOS FELIZ ANIMAL HOSPITAL

BIGFOOT LODGE Companies Headquartered in Downtown Glendale

Avery Dennison CBRE N Color Me Mine Disney Consumer Products DreamWorks Studios KABC7 Public Storage LegalZoom Univision Walt Disney Animation Whole Foods Market DineEquity/IHOP

THE ROOST

INDIA SPICES

LOS FELIZ ANIMAL HOSPITAL

BIGFOOT LODGE

GIAMELA’S

Unit # Type Usable SF Rentable SF Current Rent Current Rent/SF Lease Base Lease Terms Comments 200 Shared Suite 1,200 1,369 $3.21 F.S. 200-A Available - - $450 F.S. 200-B Available - - $800 F.S. 200-C Therapist, Jose Guerra - - $825 F.S. Month-to-month 200-D Therapist, Liz Cristiansen - - $955 F.S. Month-to-month 200-E Silver Star Home Health Inc. - - $1,375 F.S. 200-F Silver Star Home Health Inc. - - Included F.S. Month-to-month 201 Mikes Delivery 150 171 $1,000 $5.85 F.S. Month-to-month 202 Glenfeliz Chiropractic 2,200 2,510 $6,890 $2.75 F.S. 8/1/18 - 7/31/24 Sprint Sprint 300 342 $1,983 $2.89 - Lease Possible 15% Increase Nextel Nextel 300 342 Included $2.89 - 203 Medical Transportation Services 150 171 $1,100 $6.43 F.S. Month-to-month 204 Language Translation 300 342 $1,290 $3.77 F.S. Month-to-month $50 Increase per year 205 Alta Boy, Alen/Jude 1,500 1,711 $4,900 $2.86 F.S. 5/1/18 - 6/30/23 Fixed Rent 206 Natural Supplements 400 456 $2,000 $4.39 F.S. Month-to-month 207 Universal Hospice Care Inc. 900 1,027 $1,500 $1.46 F.S. 8/1/18 - 07/31/21 Fixed Rent 208 Cymbeline Smith 100 114 $500 $4.39 F.S. Month-to-month 208-A Available 100 114 $550 $4.82 F.S. 208-B Anna Yarlyani 100 114 $550 $4.82 F.S. Month-to-month 208-C Alan Gordon 100 114 $550 $4.82 F.S. Month-to-month 208-D Available 100 114 $500 $4.39 F.S. 208-E Kim Carlson 150 171 $800 $4.68 F.S. 11/1/18 - 10/30/21 Fixed Rent 208-F Guest Lobby 100 114 - - 209 Alyson Roux, Nutrition Inc. 100 114 $600 $5.26 F.S. Month-to-month 210 Susannah Cobb 100 114 $700 $6.14 F.S. Month-to-month 211 Acupuncture 100 114 $680 $5.96 F.S. Month-to-month 212-A Westside Home Health/Daisy 1,200 1,369 $4,950 $3.62 F.S. Month-to-month 212 Garen Vardani 200 228 $835 $3.66 F.S. Month-to-month 213 True Choice Home Health 200 228 $800 $3.51 F.S. 214 Los Feliz Home Health 100 114 $1,575 $2.76 F.S. 215 Los Feliz Home Health 100 114 Included $2.76 - 216 Los Feliz Home Health 300 342 Included $2.76 F.S. 10/1/19 - 10/31/24 Fixed Rent with 305 217 Sunwood Chiropractic 200 228 $1,300 $2.85 F.S. Month-to-month 218 Sunwood Chiropractic 200 228 Included $2.85 - Vacant 219 Health Body 150 171 $300 $1.75 F.S. Month-to-month 220 Available 200 228 $1,500 $6.58 F.S. Month-to-month 300 Shared Suite 1,500 1,670 - $3.26 F.S. Month-to-month 300-B Available - - $800 F.S. 300-C Paul Hodgdon - - $900 F.S. Month-to-month

10 Unit # Type Usable SF Rentable SF Current Rent Current Rent/SF Lease Base Lease Terms Comments 300-D Colleen - - $1,000 F.S. Month-to-month 300-E Armineh Amy Gourgian - - $750 F.S. Month-to-month 300-F Available - - $900 F.S. 300-G Florence - - $1,100 F.S. Month-to-month 301 Alfred & Armondo 600 668 $1,500 $2.25 F.S. Month-to-month 302 EZ Trans 600 668 $1,350 $2.02 F.S. Month-to-month 303 Shared Suite 1,650 1,837 - $2.91 - 303-A Storage-Owner - - - - 303-B Jason Kohn - - $1,200 F.S. Month-to-month 303-C Jason Kohn - - Included F.S. Month-to-month 303-D Hospice - - $1,250 F.S. Month-to-month 303-E Home Health Care - - $800 F.S. Month-to-month 303-F Home Health Care - - Included F.S. Month-to-month 303-G Production Co. - - $1,100 F.S. Month-to-month 303-1 Marabou Productions - - $1,000 F.S. Month-to-month 312 Encompass Hospice 900 1,002 $1,750 $1.75 F.S. Month-to-month 305 Available 450 501 $1,000 $2.00 F.S. 306 Roger Construction 750 835 $2,150 $2.57 F.S. Month-to-month 307 Shared Therapy Suite 1,500 1,670 - $3.53 - 307-A Dana Plyler - $500 F.S. Month-to-month 307-B Available - - $1,150 F.S. 307-C Available - - $1,150 F.S. 307-D Eric R. Bergemann - - $1,300 F.S. Month-to-month 307-E Available - - $600 F.S. 307-F Available - - $600 F.S. 307-G Available - - $600 F.S. 308 Owner's Office - COPA 300 334 - - F.S. 309 Dr. Douglas Weber 800 891 $3,701 $4.15 F.S. Month-to-month 310 Available 300 334 $800 $2.40 F.S. 311 Shared Suite 1,150 1,280 - $2.53 F.S. 311-A Available - 213 $500 $2.35 F.S. 311-B Available - 214 $500 $2.34 F.S. 311-C Christina Mack/Anais Plasketes - 214 $900 $4.21 F.S. 11/1/19 - 10/31/20 311-D Sandra Drews - 213 $850 $3.99 F.S. Month-to-month 311-E Christina Mack/Anais Plasketes - 213 $500 $2.35 - 312 Shared Suite (311) Lobby - 213 - - - 314 Language Translation 600 668 $1,107 $1.66 F.S. 315 Available 600 668 $1,875 $2.81 F.S. Month-to-month Totals: 23,000 27,194 $76,941

11 ANNUALIZED INCOME Current Potential Rental Income $923,292 Vacancy Rate Reserve 18% ($166,193) Gross Operating Income $751,992

ANNUALIZED EXPENSES Current Taxes (New) $197,232 Property Insurance $25,000 Off Site Management $39,500 Taxes Worker's Comp $1,200 Repairs & Maintenance $37,000 Water/Power/Gas $59,000 Trash $9,200 Accounting and Legal $4,800 Licenses/Permits $1,500 Advertising $2,272 Supplies $2,400 Real Estate Commissions $24,000 Landscape & Gardening $2,400 Janitorial $19,000 Operating Supplies $4,000 Valet Services $27,600 Total Expenses $453,752 Expenses/Unit $7,202 Expenses/SF $16.21 % of SGI 49.14%

RETURN Current NOI $298,240

63- U N I T M U L T I - TENANT OFFICE BUILDING :: LOS FELIZ, CA 90039 12

Los Feliz is a hillside neighborhood in the central region of Los Angeles, California, abutting Hollywood and encompassing part of the Santa Monica Mountains. Los Feliz encompasses several smaller but distinct areas, including the Los Feliz Hills and Los Feliz Estates (north of Los Feliz Boulevard), Laughlin Park, Los Feliz Village, Los Feliz Square, Los Feliz Knolls, and Franklin Hills. The area north of Los Feliz Boulevard below Griffith Park is commonly referred to as the Los Feliz Hills. The Los Feliz Hills contain multimillion-dollar homes and have been known for the large share of their inhabitants being involved in creative pursuits.

With a mean household income of $196,585, the hills are one of the wealthiest areas of Los Angeles. Los Feliz Village is the southern section of Los Feliz, home to most of the commercial storefronts in the district. It is centered on the thoroughfares of Vermont and Hillhurst Avenues and spans from about Prospect Avenue to Los Feliz Boulevard. There are several coffee shops, restaurants, and small clothing and vintage stores. Los Feliz Village Business Improvement District helps promote local businesses and has an annual street fair. LOCATION TYPE DEVELOPER

1860 N. Western Avenue Archive 87 Units with 6,000 SF Ground Floor Commercial Use Dynamic Development

4850 101 Units with 10,000 SF Ground Floor Commercial Use Urban Architecture Lab

Bus Rapid Transit Line 12.4 Mi. Between Hollywood Boulevard in Los Feliz and 120th Street Metro

SE Corner of Western and Franklin 96 Units Above 5,500 SF Ground Floor Commercial Use Dynamic Development

4718 W. Franklin Avenue 6-Unit Condominium Complex USA Rongchen Development

If you drove through Los Feliz without knowing its history, you’d hardly be able to tell the significant role the neighborhood and its residents played in the early days of the motion picture industry. There are no shrines, statues or tacky symbols to memorialize the birthplace of Mickey Mouse. If you pay close attention, you might spot a few modest historic landmark signs denoting the small parcels of land where humble workshops once stood. As the story goes, those early outfits moved across town and morphed into much larger studios. Los Feliz has a cozy vibe; it feels like a small town that just happens to be nestled within the borders of the second largest city in the United States. There are no tall, sun-blocking buildings here. Instead, you’ll find charming homes, tree-lined streets and a walker- friendly business district with many delightful (and locally-owned) restaurants and shops. Metro's Westside/Central Service Council will review a technical study for a proposed bus rapid transit line which would link the Red, Purple, Expo and Green Lines via . The project stretches approximately 12.4 miles between Hollywood Boulevard in Los Feliz and 120th Street in the unincorporated community of Athens. South of Gage Avenue, a former railroad right-of-way provides a generous 200-foot wide right of way for potential transit service.

With 45,000 daily boardings between Metro's 754 and 204 lines, Vermont is the second busiest bus corridor in the Metro network after . However, heavy congestion often interferes with service, resulting in slow travel speeds, late arrivals and overcrowding.

To alleviate this issue, Metro included bus rapid transit service for Vermont within Measure M, the transportation- funding tax measure passed by L.A. County voters this past November. The ballot measure included $25 million in seed money for the project, which is anticipated to break ground in 2024 and open by 2028. HOLLYWOOD 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 the more desirable submarkets in the area.

SILVERLAKE VIRGIL VILLAGE Voted Forbes’ Hippest Neighborhood and Centered on Virgil Avenue, over the past 15 built around a city reservoir, Silverlake is years Virgil Village has emerged as a trendy well known for its trendy restaurants, enclave of East Hollywood. Creative nightlife, and avant garde Modernist professionals and artists seeking affordable architecture. Since the end of 1990’s the renting alternatives to more established area has also been the center of Los areas such as Silverlake and Hollywood Angeles’ indie and alternative music scene. were the first to move to the area and retail and eateries have opened to meet the strong demand from the new residents. AMERICANA

WEST HOLLYWOOD

GALLERIA SILVERLAKE

EAST HOLLYWOOD

ECHO PARK HOLLYWOOD

DTLA

KOREATOWN The Metro agency announced its intention to complete 28 transit projects before the 2028 Olympics.

The 28 by 28 plan includes three phases of Purple Line (aka D Line) extensions (it’ll reach the VA Hospital in Westwood), a light-rail extension to the South Bay, the Crenshaw Line, and an extension of the Gold Line (A line) that’ll go out to Montclair (one station past Claremont).

MEDIAN HH INCOME POPULATION 2020 HOUSEHOLDS $65,006 10,441,080 3.31M

INCORPORATED COMMUNITIES 2020 GROSS COUNTY PRODUCT GCP GROWTH 140 $807B 2.8%

MEDIAN AGE TOP OCCUPATION LAND AREA 36.3 Management 4,751

Los Angeles County, officially the County of Los Angeles, in the Los Angeles metropolitan area of the U.S. state of California, is the most populous county in the United States, with more than 10 million inhabitants as of 2020. As such, it is the largest non–state level government entity in the United States. Its population is larger than that of 41 individual U.S. states. It is the third-largest metropolitan economy in the world, with a Nominal GDP of over $700 billion—larger than the GDPs of Belgium, Norway, and Taiwan. It has 88 incorporated cities and many unincorporated areas and, at 4,083 square miles (10,570 km2), it is larger than the combined areas of Delaware and Rhode Island. The county is home to more than one-quarter of California residents and is one of the most ethnically-diverse counties in the U.S. Its county seat, Los Angeles, is also California's most populous city and the second most populous city in the U.S., with about 4 million residents. 3171 LOS FELIZ BOULEVARD | LOS FELIZ, CA 90039 63- U N I T M U L T I - TENANT OFFICE BUILDING :: LOS FELIZ, CA 90039