11445 Oxnard St, North Hollywood, CA 91606 (“Property”)

Home , CBS Studio Center, North Hollywood station

OFFERING MEMORANDUM 11445 OXNARD ST NORTH HOLLYWOOD, CA EXCLUSIVELY LISTED BY

ADAM FELDMAN JOHN BOYETT DANIEL WITHERS Associate - Multifamily Senior Associate - Multifamily SVP & Senior Director - Multifamily

D: (818) 923-6112 D: (818) 923-6226 D: (818) 923-6107 M: (310) 749-8140 M: (707) 815-7472 M: (310) 365-5054 E: [email protected] E: [email protected] E: [email protected] License No. 0209072 (CA) License No. 02056759 (CA) License No. 01325901 (CA)

2 11445 OXNARD ST NORTH HOLLYWOOD, CA

04 20 22 Area Overview Property Overview Financial Overview

3 AREA OVERVIEW

4 NORTH HOLLYWOOD, CALIFORNIA

North Hollywood is a neighborhood in the east San Fernando Valley region of NoHo their home are: Universal Studios Hollywood, Universal Studios & Music, the city of Los Angeles. It is home to the NoHo Arts District and the Academy The Walt Disney Company, Warner Brothers, DreamWorks SKG, NBC, Litton of Television Arts & Sciences, and it has seven public and eight private schools. Industries, Boeing-Rocketdyne Propulsion, and Power, Countrywide Credit, Once a gritty suburb, North Hollywood has transformed into the Valley’s go-to Academy of Television Arts & Sciences, Nestle USA, Nickelodeon Animation cultural hub over the last decade with an influx of dance studios, art galleries, Studios, CBS Studio Center, Pinkerton, and Wellpoint Health Networks. NoHo’s and acting workshops—and still no shortage of strip malls. highly educated workforce, well-developed infrastructure, hospitable climate, business-friendly municipal governments, and strategic position along the For generations, the San Fernando Valley has been the home of legends. Bob Pacific Rim have combined to facilitate the establishment of more than 50,000 Hope, Ron Howard, Gene Autry, Sally Field, Clark Gable, John Wayne, Tom small businesses. Selleck, and countless others have called the Valley, home. Today, corporate stars have become business legends in their own right. Among those who make

DEMOGRAPHICS

POPULATION 1-MILE 3-MILE 5-MILE

2025 Projection 45,930 292,711 599,432

2020 Estimate 46,608 297,087 608,148

2010 Census 44,270 285,341 587,776

Growth 2010 - 2020 5.28% 4.12% 3.47%

HOUSEHOLDS 1-MILE 3-MILE 5-MILE

2025 Projection 17,259 120,816 242,522

2020 Estimate 16,816 117,610 235,893

2010 Census 15,237 107,804 218,494

Growth 2010 - 2020 10.36% 9.10% 7.96%

INCOME 1-MILE 3-MILE 5-MILE 2020 Avg. $68,642 $97,323 $107,681 Household Income

5 NOHO ARTS DISTRICT

The NoHo Arts District is a community in North Hollywood, Los Angeles, California, that is home to contemporary theaters, art galleries, cafes, and shops. The community is generally bounded by Hatteras Street to the north, Cahuenga Blvd to the east, Tujunga Ave to the west, and Camarillo Street to the south. The area features more than twenty professional theaters, producing new work and classics, diverse art galleries, public art, and professional dance studios. The district also features the largest concentration of music recording venues west of the Mississippi. A Metro Rail station is located here, the North Hollywood station of the Red Line, and serves as the terminus of the Metro Orange Line busway. Business and theater owners in the Universal City/North Hollywood Chamber of Commerce established a theater and arts district in 1992 with support from the Los Angeles Department of Cultural Affairs. They chose “NoHo”, a play off the well-known SoHo Arts District neighborhood of New York City. Today, The NoHo Arts District, in conjunction with greater North Hollywood, is being transformed into a regional center, in large part as a result of the construction of Metro Stations for the Red Line and the Orange Line, two lines that have made the neighborhood into a regional hub for the San Fernando Valley. Medium- and high-density developments are being built around the Metro Station, making the Arts District a center of citywide development, with the intent of creating a walkable urban village. North Hollywood’s landscape (and the Art’s District as a result) has been transformed in recent years, with condominium towers (including a fifteen-story building on Lankershim Boulevard being built in the midst of older one-story bungalows and small apartment complexes.

NOHO GROWTH

The theater district includes two new large venues that expand upon existing theaters, the newly redesigned NoHo Arts Center (formerly the American Renegade Theatre) and the redesigned Historical El Portal. They add to the existing 31 theaters located in and around the NoHo Arts District. NoHo Commons, developed by J.H. Snyder Company, is located near the NoHo Arts District’s commercial core and subway station. The $100-million, 292-unit loft apartment project by Snyder was the first segment to be completed of NoHo Commons, part of a “transit village” taking form at the terminus of the Metro Red Line subway and the Orange Line busway. The NoHo Commons construction and development consisted of three phases, complete with the construction of a Laemmle Theatre. Phase III also consisted of the construction of an eight-story office on the corner of Lankershim and Weddington in 2009. The building’s primary tenant is currently the Art Institute of California-Hollywood. NoHo 14, a 180-unit, fourteen-story apartment building, was built in 2004 as one of the first large-scale developments in the neighborhood. Currently, the NoHo Arts District, in conjunction with the Community Redevelopment Agency-Los Angeles, is working on beautification efforts to make the area more appealing to businesses. The current focus is primarily on revamping storefronts on Lankershim Blvd and Magnolia Blvd with Burbank Blvd to follow. North Hollywood plans a mixed-use development at Lankershim and Chandler, surrounding the Metro Red and Orange line terminals. The projects would re-develop 15.6 acres with 1,720,000 square feet of commercial and residential space. The first would be a smaller development with 750 residential units, 40,500 square feet of retail space, and 200,000 square feet of offices. The second would include 1,500 units of housing, 150,000 square feet of retail, and 450,000 square feet of offices (and 5,400 parking spaces). 6 NOHO WEST

A transformation is underway for this new mixed-use lifestyle center at the current Macy’s site on Laurel Canyon Boulevard at Oxnard Street in North Hollywood. The redevelopment will repurpose the existing Macy’s building to serve office and retail uses, and incorporate a walkable main street retail concept and amenity-rich residential apartments. The design for the site layout weaves the new development into the existing fabric of the neighborhood to include SALE FOUR BLOCKS OF SHOPS, RESTAURANTS AND OFFICES shopping, working and leisure that compliments the active and contemporary NOHO West community. NOHO West will offer expanded retail shopping opportunities around a large open-air plaza, an office building, new residences, and abundant public open spaces. The retail main street may include a mix of regional retailers, restaurants, and cafes, a specialty market and cinema. This anticipated mix of uses will create MIX OF LOCAL AND NATIONAL RETAILERS a unique opportunity to live, work and shop in a walkable, vibrant setting.

A STATE-OF-THE-ART, MULTI-SCREEN MOVIE THEATER WITH FULL-SERVICE DINING AND RESERVED SEATING

OFFICE SPACE OCCUPYING THE RENOVATED MACY’S BUILDING

NOHO WEST SITE PLAN AMENITY-RICH RESIDENTIAL APARTMENT UNITS The proposed site plan is organized around the new central plaza and retail- lined main street connecting Oxnard Street to Laurel Canyon Boulevard, parallel to the freeway. New office space in the renovated Macy’s building and the second story theatre over Building D front the plaza and activate the main street. New amenity-rich residential buildings provide a graceful transition to the surrounding residential neighborhood to the North and East. The edges of the OVER TWO ACRES OF OPEN SPACE project are designed to minimize the impact on the surrounding neighborhood with shorter 3-story building heights, traffic mitigation, and generous landscaped buffer areas. The proposed mix of uses provides existing and new residents of North Hollywood the opportunity to live, work, dine, shop, and play all within a vibrant walkable neighborhood setting. 7 BOB HOPE AIRPORT ACADEMY OF TELEVISION ARTS & SCIENCES UNIVERSAL STUDIOS HOLLYWOOD

Hollywood Burbank Airport, legally Bob Hope Airport, The Academy of Television Arts & Sciences (ATAS), Universal Studios Hollywood is a film studio and is a public airport 3 miles northwest of downtown also colloquially known as the Television Academy, is theme park in the San Fernando Valley area of Los Burbank, in Los Angeles County, California. The airport a professional honorary organization dedicated to the Angeles County, California. About 70% of the studio serves Downtown Los Angeles and the northern advancement of the television industry in the United lies within the unincorporated county island known Greater Los Angeles area, including Glendale, States. as Universal City while the rest lies within the city Pasadena, and the San Fernando Valley. It is closer to limits of Los Angeles, California. It is one of the oldest Griffith Park, Hollywood, and Downtown Los Angeles Syd Cassyd, the founder, considered television a and most famous Hollywood film studios still in use. than Los Angeles International Airport (LAX), and is the tool for education and envisioned an organization Its official marketing headline is “The Entertainment only airport in the area with a direct rail connection to that would put outside the “flash and glamor” of the Capital of LA”. It was initially created to offer tours of downtown Los Angeles. Non-stop flights mostly serve industry and become an outlet for “serious discussion” the real Universal Studios sets and is the first of many cities in the western United States, while JetBlue and awards the industries “finest achievements”. full-fledged Universal Studios Theme Parks located Airways has daily flights to New York City and Boston. In 2016, producer Hayma Washington was elected across the world. chairman and CEO of the Academy of Arts and Originally the entire airport was within the Burbank Sciences, becoming the first African-American to hold Outside the theme park, a new, all-digital facility near city limits, but the north end of Runway 15/33 has the position. the Universal Pictures backlot was built in an effort to been extended into the city of Los Angeles. merge all of NBCUniversal’s West Coast operations In 2014, alongside its Hall of Fame induction ceremony into one area. As a result, the current home for KNBC, The airport is owned by the Burbank-Glendale- and announced plans to expand its headquarters, the KVEA and NBC News with Telemundo Los Angeles Pasadena Airport Authority and controlled by the organization announced that it had changed its public Bureaus with new digital facility is on the Universal governments of those cities. The Airport Authority brand to the Television Academy, with a new logo lot formerly occupied by Technicolor SA. Universal contracts with TBI Airport Management, Inc. to designed by Siegel + Gale. The new branding was City includes hotels Universal Hilton & Towers, the operate the airport, which has its own police and fire intended to downplay the organization’s antiquated Sheraton Universal Hotel, and Universal CityWalk, departments, the Burbank-Glendale-Pasadena Airport formal name in favor of a more straightforward which offers a collection of shops, restaurants, an Authority Police. Boarding uses portable boarding identity, and features a separating line (typically 18-screen Universal Cinema, and a seven-story IMAX steps or ramps rather than jet bridges. used to separate the organization’s wordmark from a theater. In 2017, the park hosted 9,056,000 guests, simplified image of the Emmy Award statuette) used to ranking it 15th in the world and 9th among North symbolize a screen, and also portrayed as a “portal”. American parks.

8 MAJOR STUDIOS

SUBJECT PROPERTY

9 As home to the world’s major movie studios, the San Fernando Valley is where celebrities live, work, and play. It’s made up of gorgeous suburbs and mini-malls. Major network and movie studios call it home

SAN FERNANDO VALLEY

Southern California’s San Fernando Valley, encompassing the City of Burbank, City of Calabasas, City of Glendale, City of Los Angeles and City of San Fernando.

The San Fernando Valley is an urbanized valley in Los Angeles County, California in the Los Angeles metropolitan area, defined by the mountains of the Transverse Ranges circling it. Comprised of nearly 350 square miles of prime southland real estate, the San Fernando Valley is home to more than 1.8 million residents. About 80 percent of the San Fernando Valley is actually part of the City of Los Angeles, but the Valley also includes other independent cities which are attractive locations for business: Burbank, Calabasas, Glendale, Hidden Hills, and San Fernando.

In addition to the many popular studio tours, historical sites, theaters and museums, the San Fernando Valley offers an incredible array of fine dining, shopping, lodging and recreational opportunities, along with world-class attractions at each of the scenic entrances to our Valley, including the magnificent new Getty Center, the Hollywood Bowl and the Los Angeles Zoo at the southern entrances; the site of the granddaddy of all college bowl games — the Rose Bowl — at the east; the Ronald Reagan Presidential Library at the west; and the tallest, fastest roller coasters in the world at Six Flags Magic Mountain to the north.

MAJOR EMPLOYERS

10 ENTERTAINMENT TRANSPORTATION PARAMOUNT PICTURES LOT HOLLYWOOD BURBANK AIRPORT San Fernando Valley boasts one of the nation’s largest Situated near local communities, business centers, the concentrations of entertainment activity, home to some of the entertainment industry, and recreational facilities, Van Nuys most well-known companies including The Walt Disney Company, Airport (VNY) and Hollywood Burbank Airport (BUR) serve as Warner Brothers Ent., Universal Studios, Paramount Pictures, CBS major economic engines for the San Fernando Valley. Based Studios, DreamWorks, Starz Media, ABC Inc., and Nickelodeon on the most recent data available, these two hubs combine to Animation. Combined, these companies alone employ over generate a $3.8 billion economic impact while supporting over 22,900 workers. Warner Brothers is headquartered at their 142- 22,000 jobs annually. BUR hosted approximately 5.2 million acre studio lot in Burbank, one of the most notable motion picture passengers in 2018, which equates to a 11% increase annually. and television production facilities in the world.

$120 BILLION ±837,000 $3.8 BILLION ±22,000 ECONOMIC IMPACT JOBS SUPPORTED ECONOMIC IMPACT JOBS SUPPORTED

ORANGE LINE EXTENSION

Construction is underway on a $393 million project that will significantly speed up service along the Orange Line bus route. Already among the most popular public transit lines in The Valley, services through the Orange Line are forecast to speed up by 20% with the construction of crossing gates at 35 intersections, helping buses avoid traffic along San Fernando Valley’s busy corridors. Additionally, a pair of aerial bridges will be built at Sepulveda and Van Nuys Boulevard, in addition to new stations above the streets. Construction on all phases of the project are forecast to be completed by 2025 in time for then 2028 Los Angeles Olympics. Decades after completion, Metro plans to convert this line into a light rail corridor that is expected to open by 2057. 11 N 10

8 6 9 5 13 11 7

1. UNIVERSAL STUDIOS HOLLYWOOD 1 2. HOLLYWOOD BOULEVARD 3. RODEO DRIVE 4. THE GETTY 5. HOLLYWOOD BURBANK AIRPORT 6. VAN NUYS AIRPORT 2 ONE OF LOS ANGELES’ TRUE CULTURAL LANDMARKS AND ONE OF THE COUNTRY’S MOST RESPECTED AND 7. THE GREAT WALL OF LOS ANGELES LARGEST MONUMENTS TO INTER-RACIAL HARMONY 8. VALLEY RELICS MUSEUM 9. STARLIGHT BOWL 4 3 OFFERS A CHOICE OF MORE THAN 170 RETAIL SHOPS, 10. THE SORAYA RESTAURANTS, ENTERTAINMENT VENUES AND LIFESTYLE SERVICES 11. BURBANK TOWN CENTER MALL 12. VENTURA BOULEVARD 13. VILLAGE AT WESTFIELD TOPANGA

12 HOLLYWOOD BLVD

LA CULTURAL ICON, WITH MUSEUMS, LANDMARKS AND OTHER HOLLYWOOD ATTRACTIONS THAT CELEBRATE L.A.’S RICH FILM AND ENTERTAINMENT HERITAGE RODEO DRIVE

ONE OF THE MOST FAMOUS STREETS ON THE GLOBE WITH MORE THAN 100 WORLD-RENOWNED STORES

UNIVERSAL STUDIOS HOLLYWOOD

ONE OF THE OLDEST AND MOST FAMOUS HOLLYWOOD FILM STUDIOS “THE ENTERTAINMENT CAPITAL OF LA”

HOLLYWOOD BURBANK AIRPORT

FRIENDLIEST, MOST CONVENIENT AIRPORT FOR FLYING TO OR FROM LOS ANGELES, HOLLYWOOD, AND THE SAN FERNANDO VALLEY

VAN NUYS AIRPORT

RANKS AS ONE OF THE WORLD’S BUSIEST GENERAL AVIATION AIRPORTS & AVGS OVER 230,000 THE GETTY CENTER TAKEOFFS AND LANDINGS ANNUALLY THE MAIN BRANCH OF THE WORLD-CLASS MUSEUM MAY LOOK LIKE AN ELEVATED MODERNIST CITY

VALLEY RELICS MUSEUM

BOASTS ITS VAST COLLECTION OF HISTORICAL ARTIFACTS PERTAINING TO THE SAN FERNANDO VALLEY AND SURROUNDING AREAS STARLIGHT BOWL

CONVENIENT LOCATION AND SEATS 3,000 IN CHAIRBACK SEATING AND 2,000 MORE ON THE LAWN FOR A TOTAL CAPACITY OF 5,000

GREAT WALL OF LOS ANGELES

ONE OF LOS ANGELES’ TRUE CULTURAL LANDMARKS AND ONE OF THE COUNTRY’S MOST RESPECTED AND LARGEST MONUMENTS TO INTER-RACIAL HARMONY

BURBANK TOWN CENTER OFFERS A CHOICE OF MORE THAN 170 RETAIL SHOPS, VENTURA BLVD RESTAURANTS, ENTERTAINMENT VENUES AND LIFESTYLE SERVICES RUNNING 18 MILES, VENTURA BLVD IS THE WORLD’S LONGEST AVENUE OF CONTIGUOUS BUSINESSES VILLAGE AT WESTFIELD 2.1 MILLION SF OF RETAIL GLORY & EVERYDAY STOP FOR WOODLAND HILLS LOCALS AND A DESTINATION POINT

THE SORAYA

PERFORMANCE PROGRAM OF ±50 MUSIC, DANCE, THEATER, AND INTERNATIONAL EVENTS 13 SAN FERNANDO VALLEY DEVELOPMENTS

1 2 3 “24”: THE NEW BRATZ DOLLS HEADQUARTERS WESTFIELD’S MAKEOVER OF WARNER CENTER 21031 WARNER CENTER LANE This office campus will incorporate creative office, residential, and Developer Westfield is planning a major overhaul of the old A planned 24-acre complex in Warner Center could bring about retail space on a 24-property that was once home to a Los Angeles Promenade mall site that will bring 1,400 housing units and two 1,000 apartments and condos, a 24-story hotel, and a trio of 15-story Times printing plant. New structures holding 660 apartments and hotels (with a total of 572 rooms) to the 34-acre site. New streets office buildings to a site near De Soto and Burbank avenues. The ground-floor retail space will be built around the offices, which will and pathways will be built throughout the site, breaking up all of project would transform the Warner Center Corporate Park, which serve as the headquarters for MGA Entertainment. The campus the new buildings. It will also include a central 1-acre public square is now occupied by a collection of low-rise buildings. Developer will also feature considerable resident amenities, including two and parks and courtyards throughout. The developer’s planning Michael Adler of Adler Realty told the Daily News that he expected pools, community gardens, outdoor walking tracks, and an open- to erect the project in phases. The estimated price tag: $1.5 billion. to receive the city’s decision on the plans in roughly six months. air amphitheater.

4 5 6

IZEK SHOMOFF’S REDO OF PANORAMA TOWERS Downtown BURBANK TOWN CENTER THE ICON AT PANORAMA CITY developer Izek Shomof wants to repurpose a 13-story midcentury The Burbank Town Center’s Ikea has moved about 1 mile away, Beverly Hills-based Icon Company plans to tear down three office building designed by Welton Becket. His plan is to and developers Crown Realty and Development Inc. have big commercial buildings, including the shuttered Montgomery Ward, incorporate into housing and retail in the tower and to build an plans for the spot it left behind. They intend to raze the old Ikea at Roscoe Boulevard and Tobias Avenue, to make way for seven outdoor mall and parking structure to complement it. The high-rise and build 765 multi-family units; an additional 70 for-sale units new buildings measuring 584,000 square feet. That space would has been empty since the 1994 Northridge earthquake. Shomof would be built at 800 North San Fernando Boulevard. The rest of hold 423 units of multifamily housing plus 200,000 square feet bought it in 2015, paying $12.5 million. the mall would be thoroughly renovated, with the help of CAPREF of commercial floor area. At the center of all of that? A six-level Manager LLC, to include an open-air plaza and 40,000 square feet parking garage with spaces for 1,690 cars. of new retail space.

14 7 8 9 WEDDINGTON GOLF AND TENNIS MAKEOVER 6606 VARIEL AVE 8845 SEPULVEDA BLVD The Weddington family wants to give their golf course a facelift, Not far from the Orange Line’s Canoga Station, developers This North Hills project—with 364 apartments—will replace a and the latest version of the plan includes constructing 200 Evolution Strategic Partners have plans for a residential project former plant nursery with a complex of four buildings ranging in apartments in a 41-foot-tall structure on about a quarter of the site rising seven stories tall. Renderings on Urbanize LA show an height from 45 to 85 feet. Forty-four of the units will be earmarked along the way. E-shaped, 271-unit apartment building. The complex would have a for tenants with low incomes. The project also includes a parking pool and rooftop decks, plus two levels of parking. garage with 557 spots, plus a swimming pool and a dog run.

1 It’s time to stop thinking of the Valley 9 as a sleepy suburb. From Chatsworth to 6 North Hollywood, plans are in the pipeline 4 to make neighborhoods more city-like, meaning denser and maybe more walkable and bikeable and more transit-friendly. 8 2 5 In the coming years, developers will build 3 thousands of new units of housing, create open space, bring in new retailers, and build new offices, creating mini villages 7 within neighborhoods.

15 LOS ANGELES

Los Angeles officially the City of Los Angeles and often known by its initials 2028 the third time. Downtown L.A. is the largest government center outside L.A., is the most populous city in California; the second most populous city in of Washington, D.C. Los Angeles has the only remaining wooden lighthouse the United States, after New York City; and the third most populous city in North in the state (located in San Pedro’s Fermin Park) and the largest historical America, after Mexico City and New York City. With an estimated population of theater district on the National Register of Historic Places (located Downtown nearly four million people, Los Angeles is the cultural, financial, and commercial on Broadway). center of Southern California. The city is known for its Mediterranean climate, Los Angeles is on the leading edge of several growth industries. The Los ethnic diversity, the entertainment industry, and its sprawling metropolis. Angeles metropolitan area, with more than 23,000 art jobs, is the country’s The City of Los Angeles holds many distinctions. L.A. is the entertainment leading artistic center, surpassing the previous champion, New York. In other capital of the world, a cultural mecca boasting more than 100 museums, many words, Los Angeles has both a larger concentration and an absolute number of them world-class, and a paradise of idyllic weather. From tourist attractions of artists than New York. The L.A. five-county area is also a major tech center, like the Walk of Fame’s collection of stars (numbering more than 2,614 and with more than 700,000 people at work in health services/biomedical activities growing by one or two a month) to career opportunities like those presented and 190,000 people in aerospace. Here are some more facts and figures about in the expanding tech industry, Los Angeles is the place to be. It is the only Los Angeles: the city, the county, and the region. city in North America to have hosted the Summer Olympics twice - and by

Los Angeles County employs over A culturally diverse city, with a growing culinary It is the largest and most populous city in the 100,000 people alone scene, shopping, museums, and a reputation for state of California and the cultural, financial, and being the creative center of America. commercial center of Southern California.

16 ECONOMY

The LA economy is famously and heavily based on the entertainment industry, with a particular focus on television, motion pictures, interactive games, and recorded music - the Hollywood district of Los Angeles and its surrounding areas are known as the “Movie Capital of the United States” due to the region’s extreme commercial and historical importance to the American motion picture industry. Other significant sectors include shipping/ international trade - particularly at the adjacent Port of Los Angeles and Port of Long Beach, together comprising the United States’ busiest seaport - as well as aerospace, technology, petroleum, fashion and apparel, and tourism.

L.A. County is an entertainment, manufacturing and international trade behemoth, with a fast-growing high-tech and digital media industry cluster largely centered in West L.A. and, increasingly, in the Hollywood area and beyond. With $807 billion in annual output, Los Angeles is on the leading edge of several growth industries. The Los Angeles Los Angeles County ranks among the metropolitan area, with more than 23,000 art jobs, is the country’s leading artistic center, surpassing the previous champion, New York. In other words, Los Angeles has both a larger world’s largest economies. Its GDP, concentration and an absolute number of artists than New York. The L.A. five-county area is also a major tech center, with more than 700,000 people at work in health services/ which would rank No. 19 in the world biomedical activities and 190,000 people in aerospace. Here are some more facts and if it were a standalone nation, is larger figures about Los Angeles: the city, the county, and the region. than Switzerland and Saudi Arabia, and right behind Netherlands and MAJOR EMPLOYERS IN LOS ANGELES Turkey, underscoring the magnitude of the region’s economy.

17 TOURISM

Tourism accelerated Los Angeles County’s economic prosperity in 2018 as visitors pumped an all-time high $23.9 billion directly into the L.A. economy, generating a record $36.6 billion in total economic impact. A new economic impact report 50 MILLION released today by Los Angeles Tourism & Convention Board demonstrates the power 50 Million People who traveled to Los Angeles last of tourism in Los Angeles during National Travel & Tourism Week, an annual event established by Congress and organized by the U.S. Travel Association to celebrate year the impact of travel.

Tourism supported 534,258 jobs in L.A. County’s Leisure & Hospitality sector, its highest total on record, employing 1 in every 8.5 workers in the county. Reaffirming the strength of the sector, tourism added 9,700 new jobs last year.

$22 BILLION LA visitors spent $22 billion on hotels, restaurants, shopping, attractions and more

525,000 There are 525,000 jobs supported by the Los Angeles tourism industry ATTRACTIONS

Some of the world’s best-known and most iconic landmarks and attractions call Los Angeles home: the Hollywood Sign; Griffith Observatory; the Getty Center; the Walt Disney Concert Hall at the Music Center in Downtown L.A.; the Hollywood Walk of Fame; the TCL Chinese Theatre; Space Shuttle Endeavour at the California Science 8 YEARS Center; the Battleship USS Iowa located at the Port of Los Angeles in San Pedro; Air LA has celebrated 8 consecutive years of record Force One at the Ronald Reagan Library; and Universal Studios Hollywood, with its growth dynamic immersive experience, The Wizarding World of Harry Potter™.

18 ARTS & CULTURE

With various museums and exhibits, Los Angeles is full of inspiring art and diverse cultural experiences. In fact, Los Angeles has more museums and theatres than any other city in the U.S., making it the perfect place to be immersed in arts and culture. Los Angeles is home to more than 105 museums, 225 theaters, 55 magnificent structures by the world’s top architects and 16 of the world’s most beautiful gardens. It also boasts more than 1,500 theatrical productions annually.

SPORTS

With famous venues like the Staples Center at L.A. LIVE, home to the NBA’s Los Angeles Lakers and Los Angeles Clippers, NHL’s L.A. Kings, and Dodger’s Stadium, where the Los Angeles Dodgers serve as a main attraction sports fans flock to in L.A. Los Angeles is also home to several esteemed universities that have large sports followings such as USC and UCLA.

LOS ANGELES LAKERS LOS ANGELES RAMS (National Basketball Association) (National Football Association) 18,997 Avg. Attendance 71,229 Avg. Attendance

LOS ANGELES DODGERS LOS ANGELES KINGS (Major League Basketball) (National Hockey Association) 49,065 Avg. Attendance 18,000 Avg. Attendance 19 PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS OPPORTUNITY

11445 Oxnard Street offers an incredible opportunity for an investor to own in a prime North Hollywood location. This 6-unit building built in 1952, consists of (4) one bedroom Prime North Hollywood Location one bathroom units and (2) two bedroom one bathroom units. With a healthy 35% rental upside, this allows an investor to come in and achieve an incredible return on investment. Located near the new NOHO West development, and in a high density rental market. 3,888 SF building on a 10,115 SF Lot, with on-site laundry and garage parking. Current Minutes away from NOHO West Ownership has already shown that you can achieve market rents as you turn units.

Built in 1952, (4) one bedroom one bathroom units, (2) two bedroom one bathroom units

Current Ownership turned 2 units

Great Value-Add Opportunity

Potential to add ADU’s (buyer to verify)

20 PROPERTY HIGHLIGHTS

NOHO ARTS DISTRICT

VALLEY VILLAGE

TOLUCA LAKE STUDIO CITY

21 PROJECTED PRO FORMA FINANCIAL OVERVIEW

INVESTMENT SUMMARY

11445 Oxnard Street Offering Price/ Price/ CURRENT MARKET North Hollywood, CA 91606 Price Unit Foot Cap Rate GRM Cap Rate GRM Number of Units: 6

Year Built: 1952 $1,450,000 $241,667 $372.94 4.00% 15.40 6.16% 11.51

APN: 2338-001-034

Gross Sq. Ft.: 3,888

Average S.F. Per Unit: 648

Lot Size (Acres): 0.23

Density: 26

UNIT MIX

Total Unit Unit Mix Current Current Market Market Units Mix % Avg Rent Monthly Rent Rent Monthly Rent 4 1+1 67% $1,038 $4,152 $1,560 $6,240 2 2+1 33% $1,670 $3,340 $1,950 $3,900

Scheduled Monthly Rent: $7,492 $10,140

Scheduled Yearly Rent: $89,899 $121,680

22 ANNUALIZED OPERATING DATA Current Market Scheduled Gross Income: $89,899 $121,680 35% Upside Less Vacancy Reserve: $4,495 5.0% $3,650 5.0% Laundry Income: $2,700 $2,700 Storage Unit Income: $1,560 $1,560 Gross Operating Income: $89,664 $122,290 Expenses: $31,736 35.30% $33,041 27.15% * Net Operating Income: $57,928 $89,248 Loan Payments: $45,436 $45,436 Pre-Tax Cash Flow: $12,492 2.15% $43,813 7.55% ** Plus Principal Reduction: $17,418 $17,418 Total Return Before Taxes: $29,911 5.16% $61,231 10.56% ** * As a percent of Scheduled Gross Income ** As a percent of Down Payment

PRO FORMA ANNUAL OPERATING EXPENSES % of SGI Current Per Unit Market Per Unit % of SGI Property Taxes 1.174% x Sale Price 18.99% $17,027 $2,838 $17,027 $2,838 14.0% Off-Site Management 4.0% x GOI 4.00% $3,587 $598 $4,892 $815 4.0% Insurance $0.35 x GSF 1.52% $1,361 $227 $1,361 $227 1.1% Repairs & Maintenance $550 x Units 3.68% $3,300 $550 $3,300 $550 2.7% Turnover $200 x Units 1.34% $1,200 $200 $1,200 $200 1.0% Landscaping $100 x Units 0.67% $600 $100 $600 $100 0.5% Pest Control $20 x Units 0.13% $120 $20 $120 $20 0.1% Utilities $757 x Units 5.07% $4,542 $757 $4,542 $757 3.7% Total Expenses 35.39% $31,736 $5,289 $33,041 $5,507 27.2%

Current Per Unit % of SGI Non-controllable expenses: Taxes, Ins., Reserves: $18,388 $3,065 20.45% Total Expense without Taxes $14,709 $2,452 16.36%

*For the purposes of this financial analysis, we are utilizing pro forma financials. A pro forma financial analysis is one that contains estimates and projections of both the income and expenses to show the possible operational performance of this investment property on an annual basis. 23 FINANCING

Loan Amount $870,000 Terms: 30 Down Payment:40% $580,000 Interest: 3.25% Yearly Pmt: $45,436 Monthly Pmt: $3,786

RENT ROLL

Unit Mix Rent Market Rent

100 1+1 $664 $1,560

101 1+1 $1,557 $1,560

102 2+1 $1,895 $1,950

103 1+1 $1,171 $1,560

104 1+1 $760 $1,560

105 2+1 $1,445 $1,950

Totals $7,492 $10,140 6 Averages $1,249 $1,690

Jackson Daily DEBT (949) 873-0272 QUOTE [email protected]

LTV:60% RATE: 3.25% AMORTIZATION: 30 Years TERM: Coterminous with the lease

Loan quote provided by Barrington Capital based on market conditions at this time. Actual rates and terms will vary based on market conditions at closing. 24 25 SALES COMPARABLES

4 5

2 6

26 SALES COMPARABLES

Building Number Price Per Price Per Actual Cap Property Address Property City Sale Price Year Built GRM Sale Date SF Of Units Unit SF Rate

North $1,450,000 1952 3,888 6 $241,667 $372.94 4.00% 15.40 - 11445 Oxnard Street Hollywood

North $1,900,000 1963 6,370 8 $237,500 $298.27 4.52% 13.53 11/3/20 1 5263 Riverton Ave Hollywood

North $1,130,000 1930 3,686 5 $226,000 $306.57 6/3/20 2 5056-5058 1/2 Fair Ave. Hollywood - -

North $1,800,000 1948 6,676 8 $225,000 $269.62 4.35% 13.95 5/7/20 3 5746 Camellia Ave Hollywood

North $1,392,500 1954 5,020 6 $232,083 $277.39 4.47% 13.77 5/6/20 4 12237 Vanowen St Hollywood

North $2,375,091 1950 6,956 10 $237,509 $341.44 4.13% 13.64 4/16/20 5 6730 Vineland Ave Hollywood

North $2,300,000 1957 5,831 8 $287,500 $394.44 4.21% 15.23 1/10/20 6 4904 Tujunga Ave Hollywood

AVERAGES $240,932 $314.62 4.34% 14.02

27 RENT COMPARABLES

4 2 1

28 RENT COMPARABLES: ONE BEDROOM UNITS

Property Address Year Built Units Unit Mix Rent

11445 Oxnard Street 1952 6 1+1 $1,038 North Hollywood, CA 91606

6635 Wilkinson Ave 1960 17 1+1 $1,595 1 North Hollywood, CA 91606

6736 Beck Ave 1987 7 1+1 $1,550 2 North Hollywood, CA 91606

10929 Calvert St 1957 14 1+1 $1,550 3 North Hollywood, CA 91606

4 11943 Vanowen St 1985 47 1+1 $1,550 North Hollywood, CA 91606

AVERAGES $1,561

29 RENT COMPARABLES

4 1 3

30 RENT COMPARABLES: TWO BEDROOM UNITS

Property Address Year Built Units Unit Mix Rent

11445 Oxnard Street 1952 6 2+1 $1,670 North Hollywood, CA 91606

12606 Oxnard St 1951 15 2+1 $1,995 1 North Hollywood, CA 91606

11611 Archwood St 1949 3 2+1 $1,950 2 North Hollywood, CA 91606

10625 Oxnard St 1953 6 2+1 $1,950 3 North Hollywood, CA 91606

4 6050 Coldwater Canyon Ave 1957 8 2+1 $1,900 North Hollywood, CA 91606

AVERAGES $1,949

31 CONFIDENTIALITY AGREEMENT & DISCLAIMER This Offering Memorandum contains select information pertaining to the business and affairs of Tenant located at 11445 Oxnard St, North Hollywood, CA 91606 (“Property”). The Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material and information in the Offering Memorandum is unverified. Matthews Real Estate Investment Services has not made any investigation, and makes no warranty or representation, with respect to square footage, income and expenses, the future financial performance of the property, future rent, and real estate value market conditions, the condition or financial prospects of any tenant, or the tenants’ plans or intentions to continue to occupy space at the property. All prospective purchasers should conduct their own thorough due diligence investigation of each of these areas with the assistance of their accounting, construction, and legal professionals, and seek expert opinions regarding volatile market conditions given the unpredictable changes resulting from the continuing COVID-19 pandemic. The information is based in part upon information supplied by the Owner and in part upon financial information obtained from sources the Owner deems reliable. Owner, nor their officers, employees, or real estate agents make any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum, or any of its content, and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Matthews Real Estate Investment Services is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee in the Offering Memorandum. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Matthews Real Estate Investment Services.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

32 11445 OXNARD ST NORTH HOLLYWOOD, CA

EXCLUSIVELY LISTED BY

ADAM FELDMAN JOHN BOYETT DANIEL WITHERS Associate - Multifamily Senior Associate - Multifamily SVP & Senior Director - Multifamily