| OFFERING MEMORANDUM a Berkshire Hathaway and Jefferies Financial Group company 110 Units Delivered Vacant-Unique Opportunity Variety of Uses-Affordable, Market, Co-Living, Short Term Rare Large Core Los Angeles Asset-172 Units 96 Walk Score and Steps to Metro Station Currently Operated as a Hotel and Apartment Building Massive Unutilized Common Areas to Add Amenities 110 Units Delivered Vacant THE OLYMPIC 725 S WESTLAKE AVENUE | LOS ANGELES, CA 90057 172 UNITS | BUILT 1925 OFFICE INVESTMENT ADVISORS BRENT SPRENKLE Senior Managing Director 310.470.4892
[email protected] CA BRE License #01290116 MORTGAGE BANKING ALLAN FREEDMAN Managing Director 310.209.3243
[email protected] SOUTH BAY LOS ANGELES 2321 Rosecrans Avenue, Suite #3235 El Segundo, CA 90245 Office: (424) 239-5900 Fax: (424) 239-5901 FRONTMATTER THE PROPERTY 4 THE LOCATION 8 THE OPPORTUNITY 18 FINANCIALS 26 COMPARABLE PROPERTIES 28 ECONOMIC & DEMOGRAPHIC OVERVIEW 40 MULTIFAMILY FORECAST 56 DISCLAIMER 59 BERKADIA 3 THE PROPERTY PROPERTY SUMMARY Units 172 Year Built 1925 Parcel Number(s) 5141-019-013 Type of Buildings 1, Four-Story, Rentals Roofs Flat Exterior Brick PRO P ERT Y PROPERTY DESCRIPTION SUMMAR The Olympic is a 172-unit apartment complex/hotel situated in the redeveloping Westlake district of Los Angeles, just west of downtown. The Olympic will be delivered with a minimum of 110 units vacant at the close of escrow. The property is steps away from Wilshire Boulevard, Alvarado Street, MacArthur Park, and the Metro Station. The Olympic was built in 1925 and is a four-story complex constructed of reinforced brick with two large basements and a massive lobby.