GOLD LINE GOLD MINE 73-Unit Apartment Portfolio Within Blocks of the Metro Gold Line

GOLD LINE GOLD MINE 73-Unit Apartment Portfolio Within Blocks of the Metro Gold Line High Profile Multifamily Opportunity in the Heart of azusa 33 UNITS | 1240-80 N San Gabriel Avenue 26 UNITS | 621 N Cerritos Avenue 14 UNITS | 625 N Cerritos Avenue non rent-controlled properties with significant upside PLEASE DO NOT DISTURB TENANTS-DRIVE BY ONLY Capital Markets | Investment Properties For more information, please contact: Ed Matevosian Joyce Goldstein Greg Nassir Natalie Aghaei Lic. 01358783 Lic. 01903737 Lic. 01775052 Lic. 01939416 +1 818 502 6744 +1 818 502 6700 +1 818 907 4697 +1 310 948 2948 [email protected] [email protected] [email protected] [email protected] Affiliated Business Disclosure square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property CBRE, Inc. operates within a global family of companies with will be made available to interested and qualified prospective many subsidiaries and/or related entities (each an “Affiliate”) purchasers. In this Memorandum, certain documents, including engaging in a broad range of commercial real estate businesses leases and other materials, are described in summary form. including, but not limited to, brokerage services, property and These summaries do not purport to be complete nor necessarily facilities management, valuation, investment fund management accurate descriptions of the full agreements referenced. and development. At times different Affiliates may represent Interested parties are expected to review all such summaries and various clients with competing interests in the same transaction. other documents of whatever nature independently and not rely For example, this Memorandum may be received by our Affiliates, on the contents of this Memorandum in any manner. including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property Neither the Owner or CBRE, Inc, nor any of their respective described in this Memorandum (the “Property”) may submit an directors, officers, Affiliates or representatives make any offer to purchase the Property and may be the successful bidder representation or warranty, expressed or implied, as to the for the Property. You hereby acknowledge that possibility and accuracy or completeness of this Memorandum or any of its agree that neither CBRE, Inc. nor any involved Affiliate will have contents, and no legal commitment or obligation shall arise any obligation to disclose to you the involvement of any Affiliate by reason of your receipt of this Memorandum or use of its in the sale or purchase of the Property. In all instances, however, contents; and you are to rely solely on your investigations and CBRE, Inc. will act in the best interest of the client(s) it represents inspections of the Property in evaluating a possible purchase of in the transaction described in this Memorandum and will not the real property. act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror The Owner expressly reserved the right, at its sole discretion, or prospective offeror, but rather will conduct its business in a to reject any or all expressions of interest or offers to purchase manner consistent with the law and any fiduciary duties owed the Property, and/or to terminate discussions with any entity to the client(s) it represents in the transaction described in this at any time with or without notice which may arise as a result Memorandum. of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Confidentiality Agreement Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the This is a confidential Memorandum intended solely for your Property have been fully executed, delivered and approved by limited use and benefit in determining whether you desire to the Owner and any conditions to the Owner’s obligations therein express further interest in the acquisition of the Property. have been satisfied or waived. This Memorandum contains selected information pertaining By receipt of this Memorandum, you agree that this Memorandum to the Property and does not purport to be a representation of and its contents are of a confidential nature, that you will hold the state of affairs of the Property or the owner of the Property and treat it in the strictest confidence and that you will not (the “Owner”), to be all-inclusive or to contain all or part of disclose this Memorandum or any of its contents to any other the information which prospective investors may require to entity without the prior written authorization of the Owner or evaluate a purchase of real property. All financial projections and CBRE, Inc. You also agree that you will not use this Memorandum information are provided for general reference purposes only or any of its contents in any manner detrimental to the interest and are based on assumptions relating to the general economy, of the Owner or CBRE, Inc. market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, If after reviewing this Memorandum, you have no further interest assumptions and other information provided and made herein in purchasing the Property, kindly return this Memorandum to are subject to material variation. All references to acreages, CBRE, Inc. 1 TABLE OF CONTENTS EXECUTIVE SUMMARY // 04 AREA OVERVIEW // 10 MARKET OVERVIEW // 28 PROPERTY OVERVIEW // 42 CBRE, INC. | 2 3 EXECUTIVE SUMMARY CBRE, INC. | 4 Located in the heart of Azusa, nestled at the foot of the San Gabriel Mountains 5 1240-1280 N SAN GABRIEL 621 N CERRITOS AVE 625 N CERRITOS AVE AVE AZUSA, CA AZUSA, CA AZUSA, CA TOTAL/ AVERAGE PRICE $6,200,000 $ 4,600,000 $2,800,000 $13,600,000 UNITS 33 26 14 73 APN 8608-001-021 8612-003-041 8612-003-001 YEAR BUILT 1962 1962 1988 9: 2 + 1 7: 1 + 1 1: 2 + 1 UNIT MIX 22: 2 + 1.5 TH 9: 2 + 1.5 11: 2 + 2 2: 2+1.5 + Den TH 10: 2 + 2 2: 3 + 2 PRICE $6,200,000 $ 4,600,000 $2,800,000 $13,600,000 BUILDING SF 33,102 23,270 12,372 68,744 $/UNIT $187,879 $176,923 $200,000 $188,267 $/SQ. FT. $189 $198 $226 $204 EXECUTIVE PORTFOLIO SUMMARY CBRE, Inc., as the exclusive advisor, is pleased to present this portfolio of non-rent controlled multifamily buildings located in prime Azusa, California. This unique value-add portfolio provides the new owner with the opportunity to significantly increase revenues by completing minor renovations and increasing rental units to market rate. The portfolio consists of 3 properties and a total of 73 Units. The buildings can be purchased individually or as a package. Each of the buildings are situated within walking distance from the Metro Gold Line station, providing residents convenient access to Pasadena, South Pasadena, and all of Downtown Los Angeles.. CBRE, INC. | 6 TRANSIT-ORIENTED LOCATION All properties are situated within walking distance from the Azusa Downtown Metro Gold Line Station with immediate access to Downtown Los Angeles, the entire Pasadena area, and the San Gabriel Valley. CLOSE PROXIMITY TO SUPERIOR EDUCATION Within minutes of Azusa Pacific University, one of U.S. News INVESTMENT & World Reports’ Best Colleges, and Citrus College, all three properties offer convenient alternatives to on-campus student HIGHLIGHTS housing. 7 ACCESS Situated within blocks of the 210 Freeway. With easy accessibility SIGNIFICANT UPSIDE POTENTIAL to the 210 and Gold Line. Azusa continues to gain significant Below market rents in a non-rent controlled ground as a residential destination of choice for young college low-vacancy market.* graduates, growing families, and professionals who work and study all along the 210 corridor and and Downtown LA. CITY ON THE RISE DIVERSE UNIT MIX Between Rosedale (The San Gabriel Valley’s newest and finest Desirable mix of units from 1-bedroom to master-planned community), the recently approved downtown 3-bedroom apartment homes to satisfy Block 36 development including a Laemmle Theater plus every resident’s needs 40,000 SF of additional retail, and several other transit oriented developments in the works, Azusa is a city on the rise. *Based on a reported 2016 4% vacancy in Azusa by CoStar. CBRE, INC. | 8 9 AREA OVERVIEW CBRE, INC. | 10 AZUSA overview The Business Friendly City A new Azusa is emerging. The City is revitalizing the community by offering new choices for living, working and exploring. The City understands that providing the highest quality of life is a means of achieving positive economic development benefits. An ombudsman also provides one- on-one assistance to businesses. Nestled at the foot of the San Gabriel Mountains National Monument and with access to a reliable source of water, affordable electric rates and a sustainable infrastructure featuring two light rail Foothill Gold Line Stations, Azusa is prepared to be the ideal destination for residents, businesses and explorers. MAJOR EMPLOYERS azusa block 36: a new mixed-use development azusa block 36 concept plan | design by wha 11 THE METRO GOLD LINE The city of Azusa is home to two Gold Line stations as part of the Foothill The Azusa Downtown station is located east of Azusa Avenue, and consists Gold Line from Pasadena to Azusa, completed on time and on budget on of side platforms with the track in the middle. As part of the project, Alameda September 23, 2015 and turned over to Metro. Downtown Azusa is one of the Avenue was permanently closed to accommodate the new platforms. The two stations in Azusa, located in the heart of the city’s downtown.

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