For Sale: 72 Unit Apartment Building Maya Apartments

Home , Hollywood Hills

FOR SALE: 72 UNIT APARTMENT BUILDING MAYA APARTMENTS

535 South Kingsley Dr. | Los Angeles, CA

Price: $34,600,000 www.535SouthKingsley.com

Offers 1 Due: wwwTuesday,. 535SouthKingsley.com June 30, 2020 by 5:00 PM Call For Tours DOWNTOWN LOS ANGELES

NORMANDIE AVE WILSHIRE BOULEVARD

535 South Kingsley Dr. Los Angeles, CA

W 5TH STREET S ARDMORE AVENUE

S KINGSLEY DRIVE W 6TH STREET HARVARD BLVD

2 www. 535SouthKingsley.com MAYA APARTMENTS "LOCATED IN THE HEART OF KOREATOWN"

Century City Santa Monica Beverly Hills

WESTERN AVENUE

535 South Kingsley Dr. Los Angeles, CA WILSHIRE BOULEVARD KOREATOWN

S KINGSLEY DRIVE

S ARDMORE AVENUE

W 6TH STREET W 5TH STREET W 4TH ST 4TH W

NORMANDIE AVE

3 www. 535SouthKingsley.com MAYA APARTMENTS Hollywood

WESTERN AVENUE

535 South Kingsley Dr. Los Angeles, CA

W 5TH STREET

HOBART BOULEVARD W 6TH STREET

S KINGSLEY DRIVE

S ARDMORE AVENUE

4 www. 535SouthKingsley.com MAYA APARTMENTS KOREATOWN

WILSHIRE BOULEVARD

535 South Kingsley Dr. Los Angeles, CA

HOBART BOULEVARD W 6TH STREET

HARVARD BOULEVARD S KINGSLEY DRIVE KINGSLEY S

S ARDMORE AVENUE W 5TH STREET

5 www. 535SouthKingsley.com MAYA APARTMENTS

535 South Kingsley Dr. Los Angeles, CA

PACIFIC OCEAN

6 www. 535SouthKingsley.com MAYA APARTMENTS

535 South Kingsley Dr. Los Angeles, CA

7 www. 535SouthKingsley.com MAYA APARTMENTS 8 www. 535SouthKingsley.com Rooftop View 9 www. 535SouthKingsley.com Living Room 10 www. 535SouthKingsley.com Common Area Lounge TABLE OF CONTENTS: CONTACT

LAURIE LUSTIG-BOWER Executive Vice President I EXECUTIVE SUMMARY Lic. 00979360 II PROPERTY DESCRIPTION +1 310 550 2556 [email protected] III FINANCIAL ANALYSIS & COMPARABLES IV AREA OVERVIEW KAMRAN PAYDAR Vice President Lic. 01242590 +1 310 550 2529 Offers Due: Tuesday, June 30, 2020 by 5:00 PM [email protected] Call For Tours www.535SouthKingsley.com

11 www. 535SouthKingsley.com EXECUTIVE SUMMARY

12 www. 535SouthKingsley.com THE OPPORTUNITY

CBRE, Inc., as exclusive agent is pleased to present for sale Maya Apartments, a newly built boutique 72-unit apartment building in the thriving Koreatown neighborhood of Los Angeles, California.

Built in 2018, Maya Apartments offers a mix of designer appointed 1-bedroom and 2-bedroom units and ample common area amenities. Common area spaces include a clubhouse, courtyard with swimming pool, gym, barbeque, fire pit, and a furnished roof-top deck that offers spectacular views of the Downtown Los Angeles skyline and the Hollywood Hills.

Located at 535 South Kingsley Drive, in the heart of Los Angeles, Maya Apartments boast a “Very Walkable” WalkScore of 89 out of 100. The Property is within convenient access to an abundance of local dining, shopping, and entertainment destinations as well as mass transportation.

Key employment centers are located nearby along the Wilshire Corridor, Downtown Los Angeles, Hollywood, Beverly Hills and Century City.

Koreatown’s bustling 24/7 array of restaurants and nightlife, and the famed Wiltern Theater are at Maya Apartments' doorstep. Sports and entertainment venues in Downtown Los Angeles, Hollywood theaters and attractions, historic Larchmont Village’s charming cafés and boutiques, the Museum District and Griffith Park are all nearby the Property.

Maya Apartments offer excellent access to transit options as the Property is located midway between two Metro portals, Wilshire/ Western station and Wilshire/Normandie station, providing easy access to Downtown Los Angeles and Hollywood. Upon completion of the Purple Line extension, additional westbound stops will include La Price: $34,600,000 Cienega, Fairfax, Beverly Hills, Century City, and Westwood.

Offers 13Due: Tuesday, www. 535SouthKingsley.com June 30, 2020 by 5:00 PM Call For Tours INVESTMENT HIGHLIGHTS

• 2018-built designer appointed units • Attractive mix of 1-bedroom, and 2-bedroom units • Beautiful common area amenities • Excellent WalkScore: 89 out of 100 – “Very Walkable” • Proximate to two Metro subway portals at Wilshire/Western and Wilshire/Normandie

Price: $34,600,000

Current Cap Rate: 4.00%

Projected Cap Rate: 4.69%

Price Per SF: $497 14 www. 535SouthKingsley.com LOCATION HIGHLIGHTS

• Outstanding Koreatown location: – Proximate to trendy hotels and nightlife. – An abundance of shopping centers and boutiques including Koreatown Galleria, Chapman Plaza, and City Center on 6th. • Area Restaurants include: Kang Ho-Dong Baekjeong, Guelaguetza, Shin Beijing, Jihwaja Rice Bakery, The Boiling Crab, and Cake House. • Area Amenities include: The Line Hotel, Hotel Normandie, The Wiltern Theater, Koreatown Plaza. • Convenient to Key Los Angeles Employer Concentrations: – Downtown Los Angeles, Hollywood, West Hollywood, Mid-Wilshire/Miracle Mile, Beverly Hills, Century City, and Culver City.

Proximate to Two Metro Subway Portals: Submarket Occupancy 2 Wilshire/Western 94.7% Strong Income Potential Wilshire/Normandie

15 www. 535SouthKingsley.com 16 www. 535SouthKingsley.com Bedroom 17 www. 535SouthKingsley.com Bathroom PROPERTY DESCRIPTION

18 www. 535SouthKingsley.com PROPERTY FACTS

ADDRESS 535 South Kingsley Drive Los Angeles, CA 90020

ASSESSOR PARCEL NUMBER 5503-023-019

NUMBER OF BUILDINGS 1

NUMBER OF UNITS 72

PARKING SPACES 92 Parking – Above Ground and Subterranean

BUILDING SIZE ±91,604 SF

YEAR BUILT 2018

UTILITIES Separately metered for electricity UNIT MIX Most tenants pay for water utility - calculated and Number Unit Type Avg. Size Avg. Rent billed via a third party utility management company of Units

MECHANICAL 1+1 36 660 SF $2,246 Individual Air Conditioning Heat Individual – Electric 2+2 36 1,023 SF $2,933 Central Domestic Hot Water – Electric Total 72 842 SF $2,590

19 www. 535SouthKingsley.com UNIT INTERIORS FEATURE

• In-Home Washer/Dryer

• Above Standard Ceiling Height

• Walk-In-Closets With Custom Built-In Storage

• Hardwood Style Flooring in Living Areas and Bedrooms

• Private Balconies

• Stainless Steel GE Appliances

• Microwave Ovens

• Quartz Countertops

• High Speed Internet Access

• Nest Learning Thermostat System

• Kohler Plumbing Fixtures

20 www. 535SouthKingsley.com AMENITIES

• Roof Top Deck With Exceptional Views of Los Angeles

• On-Site Secured Parking

• Clubhouse

• Gym

• Pool

• BBQ/Picnic Area

• Fire Pit Area

• Bike Storage

21 www. 535SouthKingsley.com 22 www. 535SouthKingsley.com Bathroom 23 www. 535SouthKingsley.com Gym 24 www. 535SouthKingsley.com Kitchen FLOORPLANS

ONE BEDROOM, ONE BATHROOM ONE BEDROOM, ONE BATHROOM UNIT B UNIT A1 566 SF 580-677 SF

25 www. 535SouthKingsley.com MAYA APARTMENTS FLOORPLANS

ONE BEDROOM, ONE BATHROOM ONE BEDROOM, ONE BATHROOM UNIT A2 UNIT D 648-820 SF 689-704 SF

26 www. 535SouthKingsley.com MAYA APARTMENTS FLOORPLANS

TWO BEDROOM, TWO BATHROOM TWO BEDROOM, TWO BATHROOM UNIT H1 UNIT E 975-982 SF 1077-1078 SF

27 www. 535SouthKingsley.com MAYA APARTMENTS FLOORPLANS

TWO BEDROOM, TWO BATHROOM TWO BEDROOM, TWO BATHROOM UNIT F UNIT C 909-1046 SF 1265 SF

28 www. 535SouthKingsley.com MAYA APARTMENTS FLOORPLANS

TWO BEDROOM, TWO BATHROOM TWO BEDROOM, TWO BATHROOM UNIT G1 UNIT G2 987-1001 SF 1036-1059 SF

29 www. 535SouthKingsley.com MAYA APARTMENTS FINANCIAL ANALYSIS & COMPARABLES

30 www. 535SouthKingsley.com RENT ROLL MAYA AsAPAR TofME NJuneTS - 535 S2020 KINGSLEY DR RENT ROLL AS OF JUNE 2020

Unit Number Est. SF Type Current Rent Current Rent/SF Forecast Forecast Rent/SF Move-In Lease End Notes 201 689 1 + 1 $2,218 $3.22 $2,585 $3.75 10/26/2019 4/25/2021 202 935 2 + 2 $798 $0.85 $798 $0.85 4/30/2019 4/29/2021 Affordable Unit 203 580 1 + 1 $2,075 $3.58 $2,425 $4.18 4/2/2020 M-T-M 204 1,059 2 + 2 $2,673 $2.52 $3,450 $3.26 3/1/2020 2/28/2021 205 1,037 2 + 2 $3,090 $2.98 $3,450 $3.33 8/24/2019 9/23/2020 206 667 1 + 1 $2,585 $3.88 $2,585 $3.88 1/1/2020 12/31/2021 207 982 2 + 2 $2,700 $2.75 $3,425 $3.49 1/18/2020 2/17/2021 208 648 1 + 1 $1,850 $2.85 $2,585 $3.99 10/11/2019 10/10/2021 209 671 1 + 1 $2,585 $3.85 $2,585 $3.85 - - Vacant 210 987 2 + 2 $3,425 $3.47 $3,425 $3.47 - - Vacant 212 771 1 + 1 $2,390 $3.10 $2,600 $3.37 11/1/2019 11/30/2020 301 704 1 + 1 $2,048 $2.91 $2,600 $3.69 10/26/2019 10/25/2021 302 909 2 + 2 $3,350 $3.69 $3,350 $3.69 - - Vacant 303 594 1 + 1 $710 $1.20 $710 $1.20 6/1/2019 5/31/2021 Affordable Unit 304 1,057 2 + 2 $3,265 $3.09 $3,450 $3.26 9/1/2019 2/28/2021 305 1,046 2 + 2 $2,685 $2.57 $3,450 $3.30 10/11/2019 11/10/2020 306 675 1 + 1 $2,585 $3.83 $2,585 $3.83 - - Vacant 307 975 2 + 2 $2,808 $2.88 $3,400 $3.49 11/1/2019 11/30/2021 308 649 1 + 1 $1,800 $2.77 $2,585 $3.98 11/11/2019 12/10/2019 309 654 1 + 1 $2,585 $3.95 $2,585 $3.95 - - Vacant 310 999 2 + 2 $3,425 $3.43 $3,425 $3.43 - - Vacant (Model Unit) 312 1,265 2 + 2 $3,480 $2.75 $3,680 $2.91 6/1/2019 5/31/2020 313 1,077 2 + 2 $745 $0.69 $745 $0.69 8/1/2019 7/31/2020 Affordable Unit 401 704 1 + 1 $2,270 $3.22 $2,585 $3.67 12/14/2019 10/13/2021 402 909 2 + 2 $2,990 $3.29 $3,350 $3.69 8/14/2019 2/13/2021 403 594 1 + 1 $2,290 $3.86 $2,425 $4.08 5/23/2019 6/22/2020 404 1,057 2 + 2 $2,992 $2.83 $3,450 $3.26 11/1/2019 4/30/2021 405 1,046 2 + 2 $3,345 $3.20 $3,450 $3.30 5/15/2018 6/30/2020 406 675 1 + 1 $2,585 $3.83 $2,585 $3.83 1/30/2020 M-T-M 407 975 2 + 2 $2,950 $3.03 $3,400 $3.49 3/13/2020 3/12/2021 408 649 1 + 1 $2,289 $3.53 $2,585 $3.98 11/1/2019 10/31/2021 409 654 1 + 1 $710 $1.09 $710 $1.09 6/2/2019 6/1/2021 Affordable Unit 410 999 2 + 2 $3,425 $3.43 $3,425 $3.43 - - Vacant 412 1,265 2 + 2 $3,595 $2.84 $3,680 $2.91 11/1/2018 MTM 413 1,077 2 + 2 $2,801 $2.60 $3,450 $3.20 10/31/2019 11/30/2020 501 704 1 + 1 $2,585 RENT$3.67 $2,585 ROLL$3.67 4/1/2020 3/31/2021 502 909 2 + 2 $3,125 $3.44 As of$3,350 June 2020$3.69 7/15/2019 8/14/2020 503 594 1 + 1 $2,425 $4.08 $2,425 $4.08 4/29/2019 M-T-M 504 1,057 2 + 2 $3,029 $2.87MAYA AP$3,450ARTMENTS - 5$3.2635 KINGSLE 10/31/2019Y DR 10/31/2020 505 1,044 2 + 2 $3,450 $3.30 REN$3,450T ROLL AS OF$3.30 APRIL 2020 - - Vacant 506 677 1 + 1 $2,450 $3.62 $2,585 $3.82 8/8/2019 2/7/2021 Unit 507Number Es975t. SF 2T y+p e2 Curr$798ent Rent Curre$0.82nt Rent/SF Fo$798recast Forec$0.82ast Rent/SF 3/1/2020Move-In 2/28/2021Lease End AffordableNotes Unit 312508 1,265648 21 + 21 $3,680$2,585 $2.91$3.99 $3,680$2,585 $2.91$3.99 5/12/20196/1/2019 5/31/2020 412509 1,265654 12 + 12 $2,500$3,595 $3.82$2.84 $2,585$3,680 $2.91$3.95 11/1/20183/27/2020 4/26/2021MTM 713510 1,0781,001 2 + 2 $2,891$3,195 $2.68$3.19 $3,465$3,425 $3.21$3.42 9/27/20196/28/2018 3/26/20227/31/2020 613511 1,077566 21 + 21 $3,335$2,000 $3.10$3.53 $3,450$2,425 $3.20$4.28 11/2/20196/1/2019 5/31/202011/1/2022 513512 1,077704 21 + 21 $2,831$2,440 $2.63$3.47 $3,450$2,585 $3.20$3.67 11/1/20199/27/2019 11/30/202110/26/2020 413513 1,077 2 + 2 $2,801$2,831 $2.60$2.63 $3,450 $3.20 10/31/201911/1/2019 11/30/202011/30/2021 313601 1,077704 21 + 21 $2,580$745 $0.69$3.66 $2,585$745 $0.69$3.67 8/1/20194/1/2020 7/31/20203/31/2021 Affordable Unit 204602 1,059909 2 + 2 $2,673$3,265 $2.52$3.59 $3,450$3,350 $3.26$3.69 7/27/20193/1/2020 2/28/20217/26/2020 604603 1,057594 21 + 21 $3,405$2,370 $3.22$3.99 $3,450$2,425 $3.26$4.08 7/16/20196/1/2019 7/15/20205/31/2020 304604 1,057 2 + 2 $3,265$3,405 $3.09$3.22 $3,450 $3.26 7/16/20199/1/2019 2/28/20217/15/2020 504605 1,0571,044 2 + 2 $3,029$2,950 $2.87$2.83 $3,450 $3.26$3.30 10/31/20192/1/2020 10/31/2020 2/28/2021 404606 1,057677 21 + 21 $2,992$2,435 $2.83$3.60 $3,450$2,585 $3.26$3.82 11/1/20197/1/2019 4/30/20219/30/2020 705607 1,046975 2 + 2 $3,465$3,400 $3.31$3.49 $3,465$3,400 $3.31$3.49 12/1/2019- 9/30/2020- Vacant 405608 1,046648 21 + 21 $3,345$710 $3.20$1.10 $3,450$710 $3.30$1.10 5/15/20184/21/2019 6/30/20204/20/2021 Affordable Unit 305609 1,046654 21 + 21 $2,685$2,540 $2.57$3.88 $3,450$2,585 $3.30$3.95 10/11/20198/9/2019 11/10/2020 8/8/2020 505610 1,0441,001 2 + 2 $3,033$3,245 $2.91$3.24 $3,450$3,425 $3.30$3.42 8/3/2019- 8/2/2020- 611605 1,044566 12 + 12 $2,220$2,950 $3.92$2.83 $2,425$3,450 $4.28$3.30 11/15/20192/1/2020 12/14/2020 2/28/2021 612205 1,037704 12 + 12 $2,480$3,090 $3.52$2.98 $2,585$3,450 $3.67$3.33 8/24/20195/1/2019 7/31/20209/23/2020 613704 1,0771,036 2 + 2 $3,335$3,123 $3.10$3.01 $3,450$3,465 $3.20$3.34 11/15/2019- 12/14/2020- 701610 1,001704 12 + 12 $2,395$3,245 $3.40$3.24 $2,695$3,425 $3.83$3.42 9/27/20198/3/2019 10/26/2020 8/2/2020 702510 1,001909 2 + 2 $2,975$3,195 $3.27$3.19 $3,400$3,425 $3.74$3.42 11/10/20196/28/2018 12/9/20207/31/2020 703310 596999 12 + 12 $2,500$3,425 $4.19$3.43 $2,500$3,425 $4.19$3.43 - - VacantVacant (Model Unit) 704410 1,036999 2 + 2 $3,123$3,425 $3.01$3.43 $3,465$3,425 $3.34$3.43 11/15/2019- 12/14/2020- Vacant 705210 1,046987 2 + 2 $3,465$3,425 $3.31$3.47 $3,465$3,425 $3.31$3.47 12/1/2019- 9/30/2020- Vacant 706207 675982 12 + 12 $2,695$2,700 $3.99$2.75 $2,695$3,425 $3.99$3.49 4/26/20191/18/2020 7/31/20212/17/2021 707 976 2 + 2 $3,096 $3.17 $3,450 $3.53 11/8/2019 12/7/2020 708607 648975 12 + 12 $2,545$3,400 $3.93$3.49 $2,695$3,400 $4.16$3.49 5/30/2019- 6/29/2020- Vacant 709407 660975 12 + 12 $2,695$2,950 $4.08$3.03 $2,695$3,400 $4.08$3.49 3/13/2020- 3/12/2021- Vacant 712307 820975 12 + 12 $2,952$2,808 $3.60$2.88 $2,645$3,400 $3.23$3.49 11/1/20191/1/2020 12/31/202011/30/2021 Manager's Unit 713507 1,078975 2 + 2 $2,891$798 $0.82$2.68 $3,465$798 $0.82$3.21 9/27/20193/1/2020 2/28/20213/26/2022 Affordable Unit T202otal 60935,602 2 + 2 $1$74587,795 $0.80 $2$74502,866 $0.80 4/30/2019 4/29/2020 Affordable8.03% Up sUnitide Av602erage 909 2 + 2 $$3,2652,608 $$3.593.16 $$3,3502,818 $$3.693.41 7/27/2019 7/26/2020 502 909 2 + 2 $3,125 $3.44 $3,350 $3.69 7/15/2019 8/14/2020 You are302 solely responsible909 for independently2 + 2 verifying$3,085 the information$3.39 in this $3,350Memorandum. ANY$3.69 RELIANCE5/2/2019 ON IT IS SOLELY 5/1/2020 AT YOUR OWN RISK. 402 909 2 + 2 $2,990 $3.29 $3,350 $3.69 8/14/2019 2/13/2021 702 909 2 + 2 $2,975 $3.27 $3,400 $3.74 11/10/2019 12/9/2020 712 820 1 + 1 $2,645 $3.23 $2,645 $3.23 - - Manager's Unit 212 771 1 + 1 $2,390 $3.10 $2,600 $3.37 11/1/2019 11/30/2020 601 704 1 + 1 $2,580 $3.66 $2,585 $3.67 4/1/2020 3/31/2021 612 704 1 + 1 $2,480 $3.52 $2,585 $3.67 5/1/2019 7/31/2020 512 704 1 + 1 $2,440 $3.47 $2,585 $3.67 9/27/2019 10/26/2020 32 www. 535SouthKingsley.com 501 704 1 + 1 $2,440 $3.47 $2,585 $3.67 3/1/2018 3/31/2019 701 704 1 + 1 $2,395 $3.40 $2,695 $3.83 9/27/2019 10/26/2020 401 704 1 + 1 $2,270 $3.22 $2,585 $3.67 12/14/2019 10/13/2021 301 704 1 + 1 $2,048 $2.91 $2,585 $3.67 10/26/2019 10/25/2021 201 689 1 + 1 $2,218 $3.22 $2,585 $3.75 10/26/2019 4/25/2021 506 677 1 + 1 $2,450 $3.62 $2,585 $3.82 8/8/2019 2/7/2021 606 677 1 + 1 $2,435 $3.60 $2,585 $3.82 7/1/2019 9/30/2020 706 675 1 + 1 $2,695 $3.99 $2,695 $3.99 4/26/2019 4/30/2020 406 675 1 + 1 $2,585 $3.83 $2,585 $3.83 1/30/2020 5/29/2020 306 675 1 + 1 $2,585 $3.83 $2,585 $3.83 - - Vacant 209 671 1 + 1 $2,585 $3.85 $2,585 $3.85 - - Vacant 206 667 1 + 1 $2,370 $3.55 $2,585 $3.88 - - 709 660 1 + 1 $2,695 $4.08 $2,695 $4.08 - - Vacant 609 654 1 + 1 $2,540 $3.88 $2,585 $3.95 8/9/2019 8/8/2020 509 654 1 + 1 $2,500 $3.82 $2,585 $3.95 3/27/2020 4/26/2021 309 654 1 + 1 $2,585 $3.95 $2,585 $3.95 - - Vacant 409 654 1 + 1 $662 $1.01 $662 $1.01 6/2/2019 6/1/2020 Affordable Unit 408 649 1 + 1 $2,289 $3.53 $2,585 $3.98 11/1/2019 10/31/2021 308 649 1 + 1 $1,800 $2.77 $2,585 $3.98 11/11/2019 12/10/2019 508 648 1 + 1 $2,585 $3.99 $2,585 $3.99 5/12/2019 5/31/2020 708 648 1 + 1 $2,545 $3.93 $2,695 $4.16 5/30/2019 6/29/2020 208 648 1 + 1 $1,850 $2.85 $2,585 $3.99 10/11/2019 10/10/2021 608 648 1 + 1 $662 $1.02 $662 $1.02 4/21/2019 4/20/2020 Affordable Unit 703 596 1 + 1 $2,500 $4.19 $2,500 $4.19 - - Vacant 503 594 1 + 1 $2,425 $4.08 $2,425 $4.08 4/29/2019 4/30/2020 603 594 1 + 1 $2,370 $3.99 $2,425 $4.08 6/1/2019 5/31/2020 403 594 1 + 1 $2,290 $3.86 $2,425 $4.08 5/23/2019 6/22/2020 303 594 1 + 1 $662 $1.11 $662 $1.11 6/1/2019 5/31/2020 Affordable Unit 203 580 1 + 1 $2,075 $3.58 $2,425 $4.18 4/2/2020 M-T-M 611 566 1 + 1 $2,220 $3.92 $2,425 $4.28 11/15/2019 12/14/2020 511 566 1 + 1 $2,000 $3.53 $2,425 $4.28 11/2/2019 11/1/2022 Total 60,602 $186,449 $202,654 8.69% Upside Average $2,590 $3.14 $2,815 $3.41 UNIT MIX

Number Unit Type Avg. Size Avg. Rent of Units

1+1 36 660 SF $2,246

2+2 36 1,023 SF $2,933

Total 72 842 SF $2,590

33 www. 535SouthKingsley.com BASED UPONM ACURRENTYA APARTMENTS - 535 S KINGSLEY DROPERATIONS BASED UPON CURRENT OPERATIONS

INVESTMENT PRO FORMA ESTIMATED INCOME Annual % of EGI Per Unit Comments Rent Income $187,795 per mon. $2,253,541 102.4% $31,299 Current Rents Concessions ($6,411) per mon. ($76,935) -3.5% ($1,069) 2019 Actual Total Scheduled Gross Income $2,176,606 98.9% $30,231 Vacancy 5.0% of SGI ($108,830) -4.9% ($1,512) Total Net Rental Income $2,067,775 93.9% $28,719 Parking Income $3,250 per mon. $39,000 1.8% $542 June 2020 Rent Roll Tenant Chargeable $580 per mon. $6,961 0.3% $97 2019 Actual Late Charges $375 per mon. $4,500 0.2% $63 2019 Actual Utility Charges $4,000 per mon. $48,000 2.2% $667 Estimated - Current Monthly Avg Other Income $2,940 per mon. $35,282 1.6% $490 2019 Actual TOTAL ESTIMATED INCOME $2,201,518 100.0% $30,577

ESTIMATED EXPENSES Annual % of Exp. % of EGI Per Unit Property Taxes 1.174279% of est. price $406,301 49.7% 18.5% $5,643 Reassessed Tax Amount Direct Assessments $6,532 $6,532 0.8% 0.3% $91 Per LA County Assessor's Office Business Taxes $5,353 0.7% 0.2% $74 Insurance $0.35 per GSF $24,504 3.0% 1.1% $340 2019 Actual Management Fee 3.0% EGI $66,046 8.1% 3.0% $917 Estimated On-Site Management / Payroll $9,000 per mon. $108,000 13.2% 4.9% $1,500 Est. $60k + $30k x 1.2 Utilities $6,738 per mon. $80,860 9.9% 3.7% $1,123 2019 Actual Day Porter Payroll $2,500 per mon. $30,000 3.7% 1.4% $417 Estimated Cleaning Contract $600 per mon. $7,200 0.9% 0.3% $100 Estimated Repairs & Maintenance $500 per unit $36,000 4.4% 1.6% $500 Estimated Administration $2,738 per mon. $32,859 4.0% 1.5% $456 2019 Actual Reserves $200 per unit $14,400 1.8% 0.7% $200 Estimated TOTAL ESTIMATED EXPENSES $818,054 100.0% 37.2% $11,362

ESTIMATED NET OPERATING INCOME $1,383,464 62.8% $19,215

This broker opinion of value was prepared solely for the client for the purpose and function stated in the report and is not intended for Price $34,600,000 subsequent use. It was not prepared by a licensed or certified appraiser and may not comply with the appraisal standards of the Uniform Capitalization Rate 4.00% Standards of Professional Appraisal Practice. Gross Rent Multiplier 15.0 Unit Type Units Mix Avg SF Avg Rent Rent/SF Est. Sales Price Per Unit $480,556 1 + 1 36 50.0% 660 $2,269 $3.44 Price Per Sq. Ft. $497 2 + 2 36 50.0% 1,023 $2,948 $2.88 Number of Units 72 Est. Expenses Per Unit $11,362 Est. Expenses Minus Taxes Per Unit $5,628 Est. Expenses Per Sq. Ft. $11.75 Bldg. Sq. Ft. 69,651 Total 72 100.0% 842 $2,608 $3.10 Year Built 2018 APN 5503-023-019 © 2020 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, Zip Code 90020 assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

34 www. 535SouthKingsley.com MAYA APARTMENTS - 535 S KINGSLEY DR FORECASTEDFORECASTED OPOPERATIONSERATIONS

INVESTMENT PRO FORMA ESTIMATED INCOME Annual % of EGI Per Unit Comments Rent Income $202,866 per mon. $2,434,392 99.4% $33,811 Market Rents - All units at Market Concessions ($6,411) per mon. ($76,935) -3.1% ($1,069) 2019 Actual Total Scheduled Gross Income $2,357,457 96.2% $32,742 Vacancy 5.0% of SGI ($117,873) -4.8% ($1,637) Total Net Rental Income $2,239,584 91.4% $31,105 Parking Income $6,992 per mon. $83,904 3.4% $1,165 Charging $80/mo. for 92 spaces. Assuming 95% occupancy. Tenant Chargeable $580 per mon. $6,961 0.3% $97 2019 Actual Late Charges $375 per mon. $4,500 0.2% $63 2019 Actual Utility Charges $4,000 per mon. $48,000 2.0% $667 Estimated - Current Monthly Avg Other Income $5,585 per mon. $67,022 2.7% $931 2019 Actual + Internet Charge ($50/mo. for all units. Assuming 95% occupancy). TOTAL ESTIMATED INCOME $2,449,971 100.0% $34,027

ESTIMATED EXPENSES Annual % of Exp. % of EGI Per Unit Property Taxes 1.174279% of est. price $406,301 49.2% 16.6% $5,643 Reassessed Tax Amount Direct Assessments $6,532 $6,532 0.8% 0.3% $91 Per LA County Assessor's Office Business Taxes $5,669 0.7% 0.2% $79 Insurance $0.35 per GSF $24,504 3.0% 1.0% $340 2019 Actual Management Fee 3.0% EGI $73,499 8.9% 3.0% $1,021 Estimated On-Site Management / Payroll $9,000 per mon. $108,000 13.1% 4.4% $1,500 Est. $60k + $30k x 1.2 Utilities $6,738 per mon. $80,860 9.8% 3.3% $1,123 2019 Actual Day Porter Payroll $2,500 per mon. $30,000 3.6% 1.2% $417 Estimated Cleaning Contract $600 per mon. $7,200 0.9% 0.3% $100 Estimated Repairs & Maintenance $500 per unit $36,000 4.4% 1.5% $500 Estimated Administration $2,738 per mon. $32,859 4.0% 1.3% $456 2019 Actual Reserves $200 per unit $14,400 1.7% 0.6% $200 Estimated TOTAL ESTIMATED EXPENSES $825,823 100.0% 33.7% $11,470

ESTIMATED NET OPERATING INCOME $1,624,148 66.3% $22,558

Price $34,600,000 This broker opinion of value was prepared solely for the client for the purpose and function stated in the report and is not intended for subsequent use. It was not prepared by a licensed or Capitalization Rate 4.69% certified appraiser and may not comply with the appraisal standards of the Uniform Standards of Professional Appraisal Practice. Gross Rent Multiplier 13.5 Unit Type Units Mix Avg SF Avg Rent Rent/SF Est. Sales Price Per Unit $480,556 1 + 1 36 50.0% 660 $2,414 $3.66 Price Per Sq. Ft. $497 2 + 2 36 50.0% 1,023 $3,221 $3.15 Number of Units 72 Est. Expenses Per Unit $11,470 Est. Expenses Minus Taxes Per Unit $5,736 Est. Expenses Per Sq. Ft. $11.86 Bldg. Sq. Ft. 69,651 Total 72 100.0% 842 $2,818 $3.35 Year Built 2018 APN 5503-023-019 © 2020 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of Zip Code 90020 the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

35 www. 535SouthKingsley.com Rent Comp Map RENT SURVEY MAP

Rent Comp Map

1 2 3 4 5 535 South Kingsley Dr. 6 Los Angeles, CA 7 8 8 1 5 6 4 7 2 3

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

36 www. 535SouthKingsley.com

Layout ID:L01 MapId:7172106 © 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

Rent Survey Comparable Units

Avg Avg Avg Asking Avg Avg Effective Parking Additional One Bedroom Size Asking Rent Rent PSF Concessions Effective Rent Rent PSF Walkscore Year Built Included Space Subject Property 663 $2,569 $3.87 1 mo. free $2,355 $3.55 89 2018 No $80 Comp #1 Kenore , . o. ree , . o Comp #2 Aurey , . o. ree , . o Comp #3 ershire KLA , . ees ree , . o Comp #4 Lun on ilshire , . o. ree , . o Comp #5 on Sith , . o. ree , . o Comp #6 he erl on ilshire , . ees ree , . o Comp #7 ius Koreton , . o e , . o Comp #8 he hys , . o. ree , . Yes

Avg Avg Avg Asking Avg Avg Effective Parking Additional Two Bedroom Size Asking Rent Rent PSF Concessions Effective Rent Rent PSF Walkscore Year Built Included Space Subject Property 1,025 $3,443 $3.36 1 mo. free $3,156 $3.08 89 2018 No $80 Comp #1 Kenore Comp #2 Aurey , , . o. ree , . o Comp #3 ershire KLA Ag , , . ees ree , . o Comp #4 Lun on ilshire , , . o. ree , . o Comp #5 on Sith , , . o se e , . o Comp #6 he erl on ilshire , . ees ree , . o Comp #7 ius Koreton , , . o e , . o Comp #8 he hys Ag , , . o. ree , . Yes

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

37 www. 535SouthKingsley.com SELECT RENT COMPARABLES

1 616 Kenmore

57 Units South Kenore Aenue Los Angeles, CA

Completed Date Improvements Rating A reli. Aril, Occupancy .

Common Area Amenities - Controlle Aess, itness Center, entl ie Stn Alone Parking - otl ring Ses, Coere ring Aille, ring ye Suterrnen Functional Characteristics - rite lonytio, Constrution ye Steel re Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt ne eroo 57 690 $2,395 $3.47 Total/Average 57 100%

Source: Yardi

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

38 www. 535SouthKingsley.com

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2 Audrey

160 Units South Mnhttn le Los Angeles, CA

Completed Date Improvements Rating A Deeer,

Prior Names Mnhttn Common Area Amenities - Controlle Aess, itness Center, Cluhouse, Siing ool, S, entl ie Stn Alone Parking - otl ring Ses, Coere ring Aille, ring ye Suterrnen Functional Characteristics - Constrution ye re Other Factor - ie Donton Los Angeles Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt ne eroo . , , . o erooo th . , , , . Total/Average 160 100% 939 150,200 $2,962 $3.16

Source: Yardi

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

39 www. 535SouthKingsley.com

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3 Berkshire K2LA

177 Units South e shire Aenue Los Angeles, CA

Completed Date Improvements Rating A nury, Occupancy .

Common Area Amenities - Controlle Aess, itness Center, usiness Center, Cluhouse, Siing ool, entl ie Stn Alone Parking - otl ring Ses, Coere ring s Aille or An Aitionl er Month, ring ye MultiLeel Struture Functional Characteristics - rite lonytio, Constrution ye Cointion Other Factor - ie Donton Los Angeles Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt Stuio . , , . ne eroo . , , . o erooo th . , , , . Total/Average 177 100% 578 102,368 $2,182 $3.77 Source: Yardi

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

40 www. 535SouthKingsley.com

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4 Luna on Wilshire 209 Units ilshire l Los Angeles, CA

Completed Date Improvements Rating A reli. Deeer, Occupancy .

Prior Names ilshire Common Area Amenities - Controlle Aess, itness Center, Cluhouse, Siing ool, entl ie Stn Alone Parking - otl ring Ses, Coere ring Aille, ring ye Suterrnen Functional Characteristics - rite lonytio, Constrution ye Steel re Other Factor - Mor Street osure ilshire l Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt Stuio , . Stuio , . Stuio , . Stuio , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , . ne eroo , .

o erooo th Soure uny ,t erie ro .SS reors o erooo th , , . ge o Total/Average 209 100% Source: Yardi You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

41 www. 535SouthKingsley.com

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5 NEXT on Sixth

398 Units South irgil Aenue Los Angeles, CA

Completed Date Improvements Rating A erury, Occupancy .

Common Area Amenities - Controlle Aess, itness Center, usiness Center, Cluhouse, Siing ool, S, entl ie Stn Alone Parking - otl ring Ses, Coere ring s Aille or An Aitionl er Month, ring ye Aoe roun n Suterrnen Functional Characteristics - rite lonytio, Constrution ye Steel re Other Factor - Mor Street osure th Street, ie Donton Los Angeles Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt uest Suite o erooo th . , . Stuio . , , . ne erooAloe . , , . ne eroo . , , . o eroone th . , . o eroone n hree urter th . , , , . o erooo th . , , , . enthouse . , , . enthouse ne eroone th . , , . enthouse o erooo th . , , . Total/Average 398 100% 659 262,207 $2,420 $3.67 Source: Yardi You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

42 www. 535SouthKingsley.com

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6 Pearl on Wilshire, The

346 Units South ort l Los Angeles, CA

Completed Date Improvements Rating A oeer, Occupancy .

Common Area Amenities - Controlle Aess, itness Center, usiness Center, Cluhouse, Siing ool, S, entl ie Stn Alone Parking - otl ring Ses, Coere ring s Aille or An Aitionl er Month, ring ye MultiLeel Struture Functional Characteristics - rite lonytio, Constrution ye Cointion Other Factor - Mor Street osure ilshire l Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt uest Suite ne eroone th . Stuio . , , . ne eroo . , , . o erooo th . , , . o erooonhousene th . , . o erooonhouseo n ne . , , , . l th o erooonhouseDeno th . , , , . hree erooonhouseo th . , , , . Total/Average 346 100% 623 215,556 $2,485 $3.99 Source: Yardi

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

43 www. 535SouthKingsley.com

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7 Radius Koreatown

301 Units South ereno Street Los Angeles, CA

Completed Date Improvements Rating

nury, Occupancy . Phase II nury, Common Area Amenities - Controlle Aess, itness Center, usiness Center, Cluhouse, Siing ool, entl ie Stn Alone Parking - otl ring Ses, Coere ring s Aille or An Aitionl er Month, ring ye Suterrnen Functional Characteristics - rite lonytio, Constrution ye Steel re Other Factor - ie Donton Los Angeles Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt Stuio . , , . ne eroo . , , . ne eroo . , , . o erooo th . , , , . Total/Average 301 100% 611 184,056 $2,187 $3.58 Source: Yardi You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

44 www. 535SouthKingsley.com

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8 Rhys, The

64 Units South Kenore Aenue Los Angeles, CA

Completed Date Improvements Rating A Deeer, Occupancy .

Common Area Amenities - Controlle Aess, itness Center, Cluhouse, S, entl ie Stn Alone Parking - otl ring Ses, Coere ring s Aille or An Aitionl er Month, ring ye MultiLeel Struture Functional Characteristics - rite lonytio, Constrution ye Steel re Apartment Interior Amenities - nternet Aess, Aoe Stnr Ceiling eight, Miroe ens

Unit Type Unit Size (SqFt) Actual Rent Unit Description Count % of Total Unit Total Total SqFt Stuio . , , . ne eroo . , , . o eroone n hree urter th . , , , . Total/Average 64 100% 843 53,923 $2,657 $3.15 Source: Yardi

You are solely responsible for independently verifying the information in this Memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK.

45 www. 535SouthKingsley.com

Soure uny t erie ro SS reors

ge o SOLD MULTIFAMILY PROPERTIES MAYA APARTMENTS - 535 S KINGSLEY DR SOLD MULTIFAMILY PROPERTIES

Criteria: Properties located in LA County, 50 units or greater, $500 PSF+, sold from June 2018 - June 2020 Source: CoStar, sorted by price per square foot

Property Address City Zip Units Sale Price CAP GRM $/Unit $/SF SF Built Sale Date 1040 Glendon Ave (Part of Multi-Property Sale) Los Angeles 90024-2908 350 $307,924,574 -- $879,784 $895 343,949 2008 06/07/19 2501 Pico Blvd Santa Monica 90405 174 $58,550,000 3.27% - $336,494 $868 67,441 1960 11/25/19 13723-13801 S Vermont Ave Gardena 90247-2096 69 $4,750,000 -- $68,841 $844 5,626 1930 10/17/19 1411 N Highland Ave Hollywood 90028-7939 76 $52,000,000 3.60% - $684,211 $763 68,137 2016 07/24/18 801 S Hope St Los Angeles 90017-4687 290 $220,000,000 -- $758,621 $733 300,000 2014 12/01/18 639 N Fairfax Ave Los Angeles 90036-1714 63 $36,000,000 -- $571,429 $730 49,338 2018 12/18/19 3510 Maricopa St Torrance 90503 180 $74,160,000 -- $412,000 $718 103,228 1973 02/06/20 5550 Hollywood Blvd Los Angeles 90028-7369 280 $148,000,000 -- $528,571 $715 206,863 2017 10/12/18 755 S Spring St (Part of Multi-Property Sale) Los Angeles 90014-2905 275 $199,625,000 -- $725,909 $705 283,351 2018 07/02/19 2545 W 235th St (Part of Multi-Property Sale) Torrance 90505-4217 183 $95,300,000 -- $520,765 $694 137,250 1967 12/18/19 130 S Sepulveda Blvd Los Angeles 90049-3116 59 $40,250,000 3.30% - $682,203 $657 61,295 2011 12/20/19 1230 S Olive St Los Angeles 90015-2112 362 $180,100,000 4.54% - $497,514 $654 275,341 2017 01/14/19 616 Esplanade Redondo Beach 90277 105 $53,500,000 -- $509,524 $651 82,203 1971 05/09/19 28085 Whites Canyon Rd Canyon Country 91351-1279 232 $62,500,000 4.80% - $269,397 $639 97,780 1985 12/10/19 435 W Los Feliz Rd Glendale 91204 220 $118,500,000 4.00% - $538,636 $611 193,953 2018 11/14/19 2867 Sunset Pl Los Angeles 90005-3913 60 $29,250,000 4.77% 14.07 $487,500 $608 48,089 2018 10/31/19 7141-7155 Santa Monica Blvd West Hollywood 90046-5899 166 $103,200,000 -- $621,687 $600 172,000 2016 08/30/19 1110 S 5th Ave Monrovia 91016-3804 154 $75,000,000 -- $487,013 $560 134,030 2017 11/26/19 232 E 2nd St Los Angeles 90012-3803 240 $115,750,000 4.60% - $482,292 $551 210,000 2016 02/07/20 687 S Hobart Blvd Los Angeles 90005-2819 346 $170,870,000 -- $493,844 $551 310,063 2018 12/17/19 686 E Union St Pasadena 91101-4146 118 $66,080,000 4.00% - $560,000 $549 120,440 2016 06/15/18 1344 N Hobart Blvd Los Angeles 90027 142 $48,000,000 -- $338,028 $545 88,005 1974 02/26/20 1800 N Normandie Ave Los Angeles 90027-3900 80 $30,100,000 4.20% - $376,250 $544 55,350 1990 09/12/18 5837 W Sunset Blvd Los Angeles 90028-7339 79 $38,000,000 3.50% - $481,013 $537 70,812 2016 04/17/19 245 S Reno St Los Angeles 90057 66 $11,240,000 5.18% 11.58 $170,303 $526 21,368 1964 05/05/20 1106 W 6th St Los Angeles 90017-1829 606 $272,500,000 4.25% - $449,670 $523 520,625 2017 09/27/19 620 S Virgil Los Angeles 90005-4004 398 $189,000,000 4.30% - $474,874 $521 362,580 2017 08/16/19 630 Masselin Ave Los Angeles 90036-5757 168 $86,776,000 -- $516,524 $516 168,133 1990 01/29/20 1613 Ximeno Ave Long Beach 90804 206 $72,000,000 4.29% - $349,515 $513 140,236 1985 02/01/19 138 N Beaudry Ave Los Angeles 90012-3363 210 $88,275,000 4.00% - $420,357 $508 173,686 2008 06/20/18 11405 Chandler Blvd North Hollywood 91601-2617 82 $34,350,000 3.50% - $418,902 $506 67,887 2017 12/19/18 21425 Vanowen St Canoga Park 91303-2749 174 $70,500,000 -- $405,172 $504 140,000 2020 11/20/19 Average: 4.12% 12.83 $507,331 $621

© 2020 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financialYou and are legal solely advisors. responsibleYou and your advisors for shouldindependently conduct a careful, verifying independent theinvestigation information of the property in tothis determine Memorandum. to your satisfaction theANY suitability RELIANCE of the property ON for IT your IS needs. SOLELY AT YOUR OWN RISK.

46 www. 535SouthKingsley.com AREA OVERVIEW

47 www. 535SouthKingsley.com KOREATOWN

LOCAL CULTURE MEETS LUXE STYLE Koreatown is a gorgeous and densely packed three- quarter mile community offering a delightful fusion of history and hipsters. With its labyrinth of bistros, coffee shops, boutique hotels and endless shopping in readapted art deco structures with terra cotta facades, it has an approachable urban aesthetic that both charms and infuses this historic neighborhood with a life that is excitingly new. Local values and luxe style blend with ease and have transformed this area just west of downtown into one of the hippest neighborhoods around. Koreatown is in full bloom.

A CLASH OF CULTURE, COFFEE AND CULINARY DELIGHTS Koreatown never sleeps. It is known for having one of the largest concentration of bars, coffee shops and 24 hour restaurants and businesses in Southern California.

VIBRANT & HIP With the trendy Line Hotel and the rooftop greenhouse restaurant Openair, Koreatown is steeped in all things uber-hip.

“KOREATOWN IS KNOWN FOR HAVING ONE OF THE LARGEST CONCENTRATION OF BARS, COFFEE SHOPS AND 24 HOUR RESTAURANTS AND BUSINESS IN SOUTHERN CALIFORNIA.”

48 www. 535SouthKingsley.com KOREATOWN AMENITIES

535 South Kingsley Dr. Los Angeles, CA

49 www. 535SouthKingsley.com Legend on Next Page 50 www. 535SouthKingsley.com AREA AMENITIES

Grocery Stores Located near Attractions & Venues Located 535 S. Kingsley Dr Near 535 S. Kingsley Dr Jons Marketplace The Wiltern

H Mart Korean American National Museum Expresion Oaxaquena Market CGV Cinemas Movie Theater Ralphs Marciano Foundation Plaza Market

Sunny Grocery Shatto 39 Lanes

California Market Grier Musser Museum

Galleria Market Apt 503 Bar

Hannam Supermarket Palmtree L.A.

Lodging Dan Sung Sa

Shelter Hotels Brass Monkey

The Line Hotel Gaam

JJ Grand Hotel Lock & Key

Oxford Palace Hotel & Galleria Beer Belly

Hotel Normandie LA Rosen Music Studio

Garden Suite Hotel Frank ‘N Hank

Break Room 86

Cafe Bleu

51 www. 535SouthKingsley.com Nearby Restaurants NEARBY RESTAURANTS

Nearby Restaurants

535 South Kingsley Dr. Los Angeles, CA

© 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

Layout ID:L04 MapId:7251079 © 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

Layout ID:L04 MapId:7251079 52 www. 535SouthKingsley.com MAYA APARTMENTS Koreatown Shopping Malls

KoreatownKOREATOWN Shopping Malls SHOPPING MALLS

1 3 535 South Kingsley Dr. 2 Los Angeles, CA 3 4 5 4 2

© 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The 53 www. 535SouthKingsley.comInformation is protected by copyright and shall be fully enforced. MAYA Layout ID:L04 MapId:7249734 APARTMENTS

Layout ID:L04 MapId:7249734 metro.net Metro Rail & Busway TRANSPORTATION

Chatsworth Amtrak & Metrolink

Nordhoff SAN FERNANDO VALLEY Lake Allen Sierra MadreArcadia VillaMonroviaDuarte/CityIrwindale of HopeAzusa DowntownAPU/Citrus College

Roscoe Memorial Park Sherman Way SAN GABRIEL VALLEY

LAX FlyAway Del Mar Canoga De Soto Pierce CollegeTampa Reseda Balboa Woodley SepulvedaVan NuysWoodmanValley CollegeLaurel Canyon North Hollywood Fillmore Universal City/Studio City Los Angeles River Warner Ctr Hollywood/Highland South Pasadena

Hollywood/VineLAX FlyAway Highland Park

Hollywood/Western Southwest Museum CENTRAL LA Vermont/Sunset Heritage Sq

535 South Kingsley Dr. Purple Line extensions from Los Angeles, CA Vermont/Santa Monica Lincoln/Cypress Koreatown to Beverly Hills Vermont/Beverly Chinatown

and West LA PURPLE LINE EXTENSION Wilshire/WesternWilshire/Normandie Union Station Wilshire/Vermont Amtrak & Metrolink CivicGrandGrandGrandGrand Ctr/Civic Ctr/ParkParkParkPark Metrolink LAX FlyAway LAC+USC MedicalCal State Ctr LA El Monte Westlake/MacArthur Park

WESTSIDE REGIONAL 7th St/Metro Ctr CONNECTOR Pico Pershing Square LATTC/Ortho Soto Institute LittleArts Tokyo/ Dist Indiana Atlantic DOWNTOWN Pico/Aliso Maravilla

LA Mariachi Plaza Grand/LATTC East LA Civic Ctr Downtown17th Santa St/SMC Monica26th St/BergamotExpo/BundyExpo/SepulvedaWestwood/RanchoPalms Culver Park CityLa Cienega/JeffersonExpo/La BreaFarmdaleExpo/CrenshawExpo/WesternExpo/VermontExpoPark/USC EASTSIDE 37th St/ San Pedro St SANTA USC MONICA Jefferson/USC Washington

Slauson Vernon Los Angeles River Angeles Los CRENSHAW/ SOUTH LA Slauson Rail Station LAX LINE 535 South Kingsley Dr. is midway between Wilshire/Normandie Metro StationManchester and FlorenceWilshire/Western station, which is servicedTransfer by Metro Red and PACIFIC OCEAN Station BuswayStation

Firestone Purple Lines. Metro Rail is the rapid transit rail system consisting of six separate lines (the Blue, Red, Purple, Green, GoldBusway and Street Expo Lines) which Service UNDER cumulatively serve 80 stations throughout Los Angeles County. The Red Line has103rd daily St/ ridership of over 200,000 passengers CONSTRUCTIONand directly links Watts Towers Downtown Los Angeles, Koreatown, Hollywood, and North Hollywood. The Purple LineWillowbrook/ currently terminates at Wilshire/Western Station in the LAX Shuttle G Crenshaw Harbor Fwy Rosa Parks LAX Aviation/LAXHawthorne/LennoxVermont/Athens Avalon Long Beach LakewoodBl NorwalkBl heart of Koreatown. The currently under construction Purple Line Expansion will eventually extend the Purple Line to West MetroLos RailAngeles, offering a Rosecrans Compton dependable alternative for commuters traveling Mariposabetween Downtown Los Angeles, Miracle Mile, Beverly Hills, and Westwood.Red Line Wilshire/Vermont North Hollywood to Union Station Harbor Artesia Station is just one stop (an approximate 4 minuteEl Segundo ride) away from 7th StreetGateway Metro Center which is the transfer point toPurple the Line Blue and the Expo Transit Ctr GATEWAY CITIES Wilshire/Western to Union Station Del Amo Lines, providing service to Long Beach and CulverDouglas City/Santa Monica respectively. Blue Line Downtown LA to Long Beach Carson Wardlow Redondo Beach Expo Line 54 www. 535SouthKingsley.com Downtown LA to Santa Monica Willow St SOUTH BAY Green Line Redondo Beach to Norwalk Pacific Pacific Coast Hwy Coast Gold Line Hwy East Los Angeles to Azusa Anaheim St Metro Busway Pacific 5th St Av Orange Line San Pedro Downtown 1st St Chatsworth to North Hollywood Long Beach LAX FlyAway Silver Line San Pedro to El Monte Street Service in Downtown LA and San Pedro

Regional Rail

Amtrak amtrak.com Metrolink metrolinktrains.com

Airport Shuttle

LAX FlyAway lawa.org/flyaway LAX Shuttle (free) lawa.org

535 South Kingsley Dr. Los Angeles, CA

55 www. 535SouthKingsley.com MAYA APARTMENTS NEARBY PARKS

Griffith Park Harold A Henry Park Ardmore Recreation Center Robert Burns Park South Serrano Avenue Historic District MacArthur Park Normandie Playground Seoul International Park Shatto Recreation Center Pico Union Park Lafayette Park Burns Park Wilton Historic District

56 www. 535SouthKingsley.com DEMOGRAPHICS

5 Miles Koreatown is a growing and densely populated area. It is the most densely populated district in Los Angeles County. 3 Miles

1 Mile

Population* 2019 Population - Current Year Estimate 665,192

2024 Population - Five Year Projection 696,832

535 South Kingsley Dr. Los Angeles, CA

Households* 2019 Population - Current Year Estimate 249,916 2024 Population - Five Year Projection 263,386 Renter Occupied Housing Units 1 Mile Median Age* 2019 Renter Occupied Housing Units 83.7% 2019 Median Age 34.7

*Stats shown based on 3-mile radius

57 www. 535SouthKingsley.com MAYA APARTMENTS AREA EMPLOYMENT & TRAFFIC COUNTS

Area Employment 3 Miles Businesses 33,093

Employees 289,271

Daily Traffic Counts (ADT)

S. Kingsley @ Wilshire 22,312

W. 6th St. @ S. Kingsley Dr. 29,539

W. 6th St. @ Western Ave. 27,717

58 www. 535SouthKingsley.com MAYA APARTMENTS DRIVE TIMES Larchmont Village 6 Minutes

Hollywood 10 Minutes

The Grove 12 Minutes

West Hollywood 14 Minutes

Downtown Los Angeles 15 minutes

Beverly Hills 20 Minutes

Century City 20 Minutes

Culver City 20 Minutes

Glendale 22 Minutes

Burbank Airport 24 Minutes

Los Angeles International Airport 30 Minutes

59 www. 535SouthKingsley.com DOWNTOWN LOS ANGELES

Downtown Los Angeles is approximately 15 minutes away from the Property. The area is bounded by the Los Angeles river to the east, 101 Hollywood Freeway to the north, the 10 Santa Monica Freeway on the south and just west of the 110 Harbor Freeway on the west. Downtown Los Angeles features many of the city’s major arts institutions and sports facilities, a variety of skyscrapers and associated large multinational corporations, an array of public art, unique shopping opportunities and the hub of the city’s freeway and public transportation networks.

Downtown Los Angeles features one of the largest skylines in the United States, and its development has continued in recent years. The skyline will continue to see rapid growth with a number of high profile Asia-based developers building landmark projects.

The renaissance of Downtown Los Angeles that began in the late 1990’s has attracted over $17.3 Billion of investment. With many historic buildings having been converted into lofts, the transformation continues today as numerous retail businesses and restaurants are opening, and new mid- and high-rise residential buildings are being built and in the planning pipeline.

Downtown LA’s residential growth has been unprecedented. Since the passage of the Adaptive Reuse Ordinance in 1999 more than 22,000 new housing units have been constructed in Downtown Los Angeles and another 7,400 additional residential units are currently under construction. Of the new units, 6,509 are market rate rental units and 69 are affordable units. With a current 95% rental occupancy rate, the long term demand for housing is expected to be strong.

60 www. 535SouthKingsley.com MID-WILSHIRE Miracle mile

535 S. Kingsley Dr. is approximately one mile from Mid-Wilshire

Mid-Wilshire (Miracle Mile) offers some of the best museums, restaurants, bars, shops, etc. The area has Art Deco and Streamline Moderne architecture alongside glassy high-rises.

Approximately seven minute drive from the Property, Mid- Wilshire area attractions include:

• LACMA

• Petersen Automotive Museum

• Academy Museum of Motion Pictures

• El Rey Theatre

61 www. 535SouthKingsley.com LACMA LARCHMONT VILLAGE

Larchmont Village a half-square-mile neighborhood, notable for its quaint old-town shopping street and well-maintained historic homes. It has four schools and one small park. It has been the site of early and recent motion picture shoots. Larchmont Village serves as a Main Street retail district to Hancock Park, Windsor Square and nearby Paramount Studios. Larchmont maintains a small town feel and serves as a community gathering place. Larchmont has a variety of restaurants, sidewalk cafes and upscale boutiques such as Café Gratitude, Salt & Straw, Peet’s Coffee and Tea, Jamba Juice and many more.

62 www. 535SouthKingsley.com AREA ATTRACTIONS WITHIN DRIVING DISTANCE

535 South Kingsley Dr. Los Angeles, CA

University of California, The Los Angeles Grove Beverly Hills

Century City Koreatown

University of Southern California

63 www. 535SouthKingsley.com MAYA APARTMENTS AFFILIATED BUSINESS DISCLOSURE CBRE, Inc. operates within a global family of companies with manysubsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates willact in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s). CONFIDENTIALITY AGREEMENT Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc. DISCLAIMER This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner. Copyright Notice © 2020 CBRE, Inc. All Rights Reserved.

64 www. 535SouthKingsley.com MAYA APARTMENTS FOR SALE: 72 UNIT APARTMENT BUILDING MAYA APARTMENTS

535 South Kingsley Dr. | Los Angeles, CA

CONTACT

LAURIE LUSTIG-BOWER Executive Vice President Lic. 00979360 +1 310 550 2556 [email protected]

KAMRAN PAYDAR Vice President Lic. 01242590 +1 310 550 2529 [email protected]

Price: $34,600,000 Offers Due: Tuesday, June 30, 2020 by 5:00 PM Call For Tours

www.535SouthKingsley.com

© 2020 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective

65 www. 535SouthKingsley.com owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.