604 Evergreen Street Inglewood, CA 90302 Copyright © 2020 Transwestern

$3,450,000 Prime Northwest Inglewood Location Major Value-Add Opportunity 604 Evergreen Street Inglewood, CA 90302 Copyright © 2020 Transwestern. California Table of Contents Brokerage License #01263636. The information in this offering memorandum was gathered 3 Investment Summary 17 Financial Summary by Transwestern from sources believed reliable. Transwestern has not verified the ▪ The Opportunity ▪ Pricing, Property and Operating information and makes no guarantee, warranty ▪ Property Description Statement Summary or representation about it. It is the potential ▪ Exterior and Interior Photos ▪ Rent Roll buyer’s responsibility to independently confirm ▪ Aerial Photos ▪ Sales Comparables its accuracy and completeness. Any projections, ▪ Sales Comparables Map opinions, assumptions or estimates used are 12 Market Overview ▪ Rent Comparables for example only and do not represent the ▪ Apartment Market Overview ▪ Rent Comparables Map current or future performance of the property. ▪ Silicon Beach Tech and Entertainment Landscape Potential buyers and their advisors should conduct a careful, independent investigation of ▪ Major Employers and Places of Interest the property to determine to their satisfaction ▪ Nearby Developments the suitability of the property for their needs. ▪ Demographics John Swartz Josh Kaplan Troy Lucero Transwestern Real Estate Services Managing Director Managing Director Senior Associate 601 S. Figueroa St, Suite 3650 213.430.2526 213.430.2538 213.457.1656 Los Angeles, CA 90017 [email protected] [email protected] [email protected] 213.624.5700 CA Lic 01873487 CA Lic 01934177 CA Lic 02015701 transwestern.com Investment Summary Transwestern as the exclusive listing agent is pleased to present the opportunity to acquire 604 Evergreen Street, an 11-unit plus one non-conforming unit apartment building located in one of the most desirable parts of Inglewood. The property is located in the Northwest part of Inglewood, South of Centinela, less than a mile north of the 405 freeway and just east of La Cienega Blvd. on the border of Westchester. The Opportunity ▪ Rare pride-of-ownership building that presents significant value-add opportunity ▪ Current rents are over 59% below market ▪ Unit #6 (1bed+1bath) will be delivered vacant ▪ Classic 1960’s architecture provides excellent platform for renovation Offering Price: $3,450,000 ▪ Excellent unit mix – five 1bed+1bath units, four 2bed+2bath units, one 3bed+2bath unit, one 3bed+2bath townhome unit, and one non- $287,500 Per Unit | $301 Per Square Foot conforming 1bed+1bath unit. ▪ Ample parking – 20 total parking spaces 16.1 Current Gross Rent Multiplier 3.78% Current Capitalization Rate 3 Property Description 604 Evergreen St is an 11-unit plus one non-conforming unit apartment building built in 1963. The unit mix consists of five 1bed+1bath units, four 2bed+2bath NUMBER OF UNITS LAND SIZE units, one 3bed+2bath unit, one large 3bed+2bath two-story townhouse unit, and 11 units and 1 non-conforming unit +10,232 SF (Per Title Pro - Buyer to one non-conforming 1bed+1bath unit. The property is a two-story, 11,444-square- Five 1bed+1bath verify) foot walk-up building with wood frame and stucco construction situated on a Four 2bed+2bath 10,232-square-foot lot. One 3bed+2bath ZONING INR3YY (Per Title Pro - Buyer to verify) Eleven of the units have very large floor plans and a private patio or balcony One 3bed+2bath townhouse with storage areas. All of the two-bedroom units feature large bedrooms, large One non-conforming 1bed+1bath PARKING kitchens, separate dining areas, spacious living rooms, and ample storage and YEAR BUILT 20 total spaces closet space. The front unit was originally built for the owner to occupy and 1963 ASSESSOR PARCEL NUMBER functions as a separate large 3bed+2bath two-story townhome with a double- BUILDING SIZE 4017-003-031 door entrance that faces Evergreen St. Features include a large living room with +11,444 SF (Per Certificate of plenty of windows for natural light and shutters for privacy on the first floor, a huge Occupancy - Buyer to verify) condo-level kitchen with all stainless-steel appliances (excluding the refrigerator), central A/C and heat, and a private enclosed patio area accessible through the dining area. The exterior has been recently painted and the entire building has also been re-piped to copper plumbing. Parking is provided on-site with 20 spaces comprised of 14 single spaces enclosed by electric garage doors, and three tandem spaces without garage doors. Every unit has access to a storage locker located in the garage. Units are separately metered for electricity and gas, and the landlord pays for water and trash. The property also includes a laundry room with one washer and dryer provided through a lease with a laundry company. 4 Property Description Property Location 604 Evergreen is situated between Centinela Avenue and Florence Avenue, just north of the 405 freeway. Tenants will enjoy the property location due to its proximity to the new tech hub of Los Angeles, Silicon Beach, which is defined as the coastal strip from Santa Monica to Playa Del Rey. The property is less than five miles from Playa Vista, which has emerged over the past several years as one of the most desired corporate addresses and residential neighborhoods in all of Southern California. Due to technology and media companies migrating to Playa Vista from other parts of Los Angeles, Playa Vista has become a distinct hub for some of the most well-known companies in technology and media including Google, Facebook, Microsoft, Sony Computer Entertainment, Yahoo!, Omnicom, and countless others. The property is a short distance to Los Angeles International Airport, Loyola Marymount University, Inglewood High School, and the new SoFi Stadium, home to the Los Angeles Rams and Los Angeles Chargers. The short distance to the 405 freeway also gives tenants access to all of the local major employment centers including Downtown Los Angeles, West Los Angeles, Playa Vista and Playa Del Rey. 5 Exterior Photos 6 Exterior Photos 7 Interior Photos 8 Interior Photos 9 Aerial View Facing Santa Monica LA CIENEGA BLVD 10 SoFi Stadium LA Forum Aerial View Facing SoFi Stadium LA CIENEGA BLVD 11 Westridge-Canyonback Wilderness Pk j ¨¦§5 Topanga State Park 405 Topanga ¨¦§ j Alhambra West Hollywood £¤101 Fernwood Market Overview Rosemead Beverly Hills I-10 Express Ln UV27 ¨¦§10 Monterey Park Riviera Brentwood Park LosLos Angeles Angeles Apartment Market Overview j Pacific Palisades Although vacancy levels were up significantly for brand-new construction Topanga Beach apartment units in Los Angeles County during Second Quarter 2020, accordingj UV1 to Costar, the vacancy rate for theEast majority Los Angeles of the apartmentUV60 stock remained ¨¦§10 below 5%. DespiteUV60 the current economic issues with the coronavirus pandemic, Culver City Costar also reported that overall market rent growth Montebellofor the county is only down Santa Monica 1.2% for 2020 year to date. Los Angeles County currently has 25,440 units under construction, of which 8,000 are expected to be delivered this year. Inglewood Submarket Overview Los Angeles Located Huntingtonin South West Park Los Angeles, Inglewood is bordered by LaderaPico Rivera Heights to 604 Evergreen St Playa Vista the north, Westchester and Playa del Rey to the west, Hawthorne to the south, and El Segundo to the south west. Due toBell its Gardens proximity to major points of interest Inglewood such as Los Angeles International Airport (LAX), Venice Beach, and Santa Monica, and El Segundo,South Inglewood Gate has seen considerably more interest in recent years as adjacent areas such as Playa Vista and Culver City have emerged as major Los Angeles Int'l Airport Westmont Silicon Beach employment hubs on the Westside.Downey In addition, Inglewood is seeing billions of dollars in investment and development activity with projects ranging from a complete renovationLynwood of the Hollywood Park and Casino, to the new SoFi Stadium being constructed for the LA Rams and LA Chargers and the proposed Hawthorne Pacific Ocean NBA stadiumWillowbrook and practice facility for the Los Angeles Clippers, expectNorwalk Inglewood to attract even more interest from tenants in the years ahead. 405 ¨¦§ Lawndale Compton Manhattan Beach Paramount Gardena Bellflower UV1 UV91 Cerritos Lakewood Redondo Beach 12 Torrance Carson e v a e e n d s W O lympic Blvd n r V v u l ic l W S y e B d n lv G t B te e l r s e ir Westwood e Blv n h n D W d u ls Pi l c i d S d B o lv W W i Blv B v d e l W nt l ice e v w e V r San Brentwood S s d B t v w e n S v o M A e o o O e 2 p o s x d d v B t Silicon Beach6 Tech and Entertainmentu Landscape a t v r t e o f h l lv B B 405 r r e r e l l i S v a b d 2 e d A a lv t r d n B 0 i o e a v F ic t h S d e R n h s B e l B S S i Wu est Los A ngeles l A V t W n vd v v S d l d e y B ic M e 2 D p a v 6 r m nn A t ly i 10 h ng a O d n S d W v A v a t l d t l ve B d v B n vd al Blvd e l v l L o 2 Bl Rancho Park on ic B 0 n B i ic y ti n o n M t p O a e g t c h a N n m V a o ly d v i S w v h l O Bl e s g n t e r a d d l e t l B v lv a a W W J effe l n n rson a Blvd lv B 10 B io n o t e a d i d a 2 ic G c P N d i A v C n l 1 v o S B a e Palms Rodeo Rd M L B r d d e v a v u l O t Bl v B S c n n vd l e a o d l u n S ic B o 1 a P y C n d e O s c r lv D i A B n v 1 r e e e v k f e 4 r V r a f t la h 1 P S e n n J S a d C Ladera Heights e t ce L B e A v i O e n S v Santa Monica n l A c e t P e e i o t p a N h n n l o u e n o

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