LAKESIDE APARTMENTS | ECHO PARK 831 GLENDALE BLVD,

Exclusively Marketed By:

JBG | Lyon Stahl Lakeside Apartments | 1 Hemet/San Jacinto SFR Portfolio Property Features | 10 TABLE OF CONTENTS

01 Property Description 3 03 Investment Analysis 16 05 Location & Demographics 25

Executive Summary 3 Financial Summary 16 Highlights 25 Property Overview 4 Pro Forma Income Statement 17 Population & Employment 26 Investment Summary 5 Return on Investment (Unlevered) 18 Los Angeles County 28 Investment Highlights 6 Return on Investment (Levered) 19 Echo Park 29 Rent Roll 8 Notable Landmarks 30 Culture & Entertainment 32

02 Property Photos 9 04 Market Comparison 20 06 Contact 33

Exterior Photos 10 Rent Comparables 20 The Team 33 Interior Photos 12 Rent Comparables Summary 21 Confidentiality & Disclaimer 34 Aerial Photos 15 Sales Comparables 22 Sales Comparables Summary 24

Exclusively Marketed By:

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NOTICE TO PROSPECTIVE BUYER’S AND/OR THEIR REPRESENTATIVES OR ANY APPLICABLE PARTIES:

1. Buyer(s), and/or Buyer's Agent(s), are NOT authorized to go onto the property and/or interact with the tenants in any capacity without Written Consent from the Seller

2. As is customary, there will be NO showings without Written Consent from the Seller. All Offers are to be submitted Subject to Interior Inspection

JBG | Lyon Stahl Lakeside Apartments | 2 Hemet/San Jacinto SFR Portfolio Property Features | 10 EXECUTIVE SUMMARY

Lyon Stahl Investment Real Estate is pleased to present the coveted Echo Park “Lakeside Apartments,” located at 831 Glendale Blvd, Los Angeles, which, true to its name, sits directly across from Echo Park Lake. This offering signifies time that this (5) Unit Apartment Building has ever been listed for sale on the open market and, of the (10) waterfront properties on Glendale Blvd (which represent the West – and far superior - side of Echo Park Lake’s border), the Lakeside Apartments will always serve as the last to have held onto this status. Along these lines, the property’s 1986 construction bolsters its standing as a premier trophy asset because, not only is the building in excellent condition, but it’s also NOT subject to the harsh measures of LA City Rent Control. Additionally, there are (2) units that will be delivered vacant at the close of escrow, which ultimately provides a new investor with the kind of flexibility – and direct route to significant cash flow – that rarely accompanies a “trophy asset offering” such as the Lakeside Apartments.

The building boasts an outstanding Unit Mix of (5) 2-Bed/1-Bath Units that occupy 4,432 Sq Ft and sit on a healthy 6,999 Sq Ft of land. The building’s efficient footprint offers ample parking to its occupants, which is especially valuable in this parking deficient submarket. Each tenant is afforded (1) assigned parking spot with plenty of additional room for convenient ingress & egress. Also, the owner has implemented a significant amount of capital improvements including, but not limited to, a new roof, renovated kitchens, and upgraded flooring throughout. From a financial standpoint, the (2) vacant units and current in-place rents present investors with the opportunity for excellent income upon acquisition & lease up, reflecting generous figures such as a 4.38% CAP Rate and a 14.81 GRM.

The Lakeside Apartment’s excellent WalkScore® of 94 (“Walker’s Paradise”) represents one of the many factors that have generated the rapid growth of tenant demand to the Submarket in recent years. There’s no doubt that the countless restaurants, shopping, and entertainment options have drawn countless renters to Echo Park; however, it’s the property’s close proximity to the bustling development and employment hub of Downtown LA that will keep them coming. Downtown is already responsible for nearly 500,000 jobs and, with new projects continuing to break ground, Echo Park will remain one of its greatest beneficiaries. Over the past 10 Years, population growth in Echo Park has outpaced LA County as a whole by nearly 4x,, and it undoubtedly represents one of the fastest growing submarkets in Los Angeles. This influx of population and employment, along with the vibrant, Millennial-driven lifestyle that Echo Park has become an epicenter for, provides substantial optimism for continued rent growth within the submarket for the immediate and distant future.

JBG | Lyon Stahl Lakeside Apartments | 3 PROPERTY OVERVIEW

PROPERTY OVERVIEW NVESTMENT SUMMARY 831 GLENDALE BLVD STREET ADDRESS LOS ANGELES, CA 90026

SUBMARKET ECHO PARK

APN 5404-006-028

PROPERTY TYPE APARTMENT

YEAR BUILT 1986

NUMBER OF UNITS 5

BUILDING SIZE 4,432

LOT SIZE 6,999

FAR 0.63

ZONING LARD2

SPECIAL Tier 2 TOC

35% MORE DENSITY BONUS ALLOWABLE UNITS

AB1482 RENT CONTROL (NO LA CITY RSO)

JBG | Lyon Stahl Lakeside Apartments | 4 INVESTMENT SUMMARY

INVESTMENT SUMMARY NVESTMENT SUMMARY PURCHASE PRICE $2,550,000

UNITS 5

PRICE/UNIT $510,000

BUILDING SIZE 4,432

PRICE/SF $575.36

LOT SIZE 6,999

PRICE/LOT SF $364.34

NOI (CURRENT) $111,797

NOI (PRO FORMA) $127,421

CAP RATE (CURRENT) 4.38%

CAP RATE (PRO FORMA) 5.00%

GRM (CURRENT) 14.81

GRM (MARKET) 13.46

JBG | Lyon Stahl Lakeside Apartments | 5 INVESTMENT HIGHLIGHTS

Rare Opportunity on the Water

The Lakeside Apartments are one of a select few properties located on the West – and superior – border of Echo Park Lake. Further, this property has never – until now - been offered for sale on the open market.

No LA City Rent Control

In accordance with its 1986 construction, this property is NOT subject to the harsh restrictions of LA City’s Rental Stabilization Ordinances (RSOs).

Unit Mix w/ (2) Delivered Vacant

The property boasts an Outstanding Unit Mix of: • (5) 2 Bed/1 Bath Unit • Both Units #4 & #5 will be delivered VACANT at the close of escrow

Significant Capital Improvements

Owner has implemented significant amount of capital improvements including, but not limited to, a new roof, renovated kitchens, and upgraded flooring throughout

On-Site Parking Each Unit has its own parking space with plenty of additional room for convenient ingress & egress. • Parking is especially valuable in a parking deficient submarket such as Echo Park

JBG | Lyon Stahl Lakeside Apartments | 6 INVESTMENT HIGHLIGHTS

Excellent Income upon Acquisition

The Luxury of (2) vacant units, along with the strong, in-place rents present the opportunity for excellent income upon acquisition & lease up, reflecting generous figures such as: • CAP Rate: 4.38% | GRM: 14.81

Walker’s Paradise The Building boasts a WalkScore® of 94 (“Walker’s Paradise”). Extensive shopping, dining, entertainment, and transportation options are accessible by foot • Major contributor to Echo Park’s prominent reputation of producing a Vibrant, Millennial Driven atmosphere

Proximity to DTLA Located within 3mi from the bustling development and employment hub of DTLA. DTLA already provides nearly 500,000 jobs and, with constant development and new projects continuing to break ground, Echo Park will remain one of its greatest beneficiaries.

Population Growth

Population Growth in Echo Park has outpaced LA County as a whole by nearly 4x and represents one of the fastest growing submarkets in Los Angeles.

Density Bonus

The property falls under the Tier 2 TOC Requirements as it falls within 750 Feet of the Transit Stop located at the corner Alvarado St & Sunset Blvd • Density Bonus: 35% of Allowable Units

JBG | Lyon Stahl Lakeside Apartments | 7 RENT ROLL

2 Bed/1 Bath 2 Bed/1 Bath (Upstairs) (Downstairs)

2 Units (40%) UNIT MIX 3 Units (60%)

SECURITY UTILITIES UNIT # BED/BATH UNIT NOTES CURRENT RENT MARKET RENT LEASE END PARKING DEPOSIT PAID

Fully Renovated w/ Upgrades 2 Bed/1 Bath (1) Rear Parking Spot Gas & Electric 1 Front/Downstairs Unit $2,700 $3,195 $2,700 12/31/2020

Downstairs Unit 2 Bed/1 Bath (1) Rear Parking Spot Gas & Electric 2 Fully Renovated $2,700 $3,050 $2,600 M/M

Upstairs Unit 2 Bed/1 Bath (1) Rear Parking Spot Gas & Electric 3 Fully Renovated $2,700 $3,050 $2,600 M/M

Delivered Vacant 4 2 Bed/1 Bath Fully Renovated $3,050 $3,050 (1) Rear Parking Spot Gas & Electric Downstairs Unit

Delivered Vacant 5 2 Bed/1 Bath Fully Renovated w/ Upgrades $3,195 $3,195 (1) Rear Parking Spot Gas & Electric Upstairs Unit

JBG | Lyon Stahl Lakeside Apartments | 8 PROPERTY PHOTOS

PROPERTY PHOTOS

Lakeside Apartments JBG | Lyon Stahl Lakeside Apartments | 9 Hemet/San Jacinto SFR Portfolio Property Features | 10 EXTERIOR PHOTOS

JBG | Lyon Stahl Lakeside Apartments | 10 Hemet/San Jacinto SFR Portfolio Property Features | 10 EXTERIOR PHOTOS

JBG | Lyon Stahl Lakeside Apartments | 11 INTERIOR PHOTOS

JBG | Lyon Stahl Lakeside Apartments | 12 INTERIOR PHOTOS

JBG | Lyon Stahl Lakeside Apartments | 13 INTERIOR PHOTOS

JBG | Lyon Stahl Lakeside Apartments | 14 Hemet/San Jacinto SFR Portfolio Property Features | 10 AERIAL PHOTOS

JBG | Lyon Stahl Lakeside Apartments | 15 FINANCIAL SUMMARY

Income Current Pro Forma Proposed Financing

Purchase Price: $2,550,000 Potential Base Rent $172,140 $186,480 Down Payment: 50% $1,275,000 Loan Amount: $1,275,000 (+) Other Income Subject to Occupancy $0 $3,000 Nominal Interest Rate: 3.50% (=) Potential Income Subject to Occupancy $172,140 $189,480 Term / Amortization: 30 (-) Vacancy/Credit Loss 5% $8,607 $9,324 Payment: $5,725 Annual Debt Service: $68,704 (=) Gross Operating Income $163,533 $180,156

Cash Flow Statement Current Pro Forma

Expenses Current Pro Forma Net Operating Income (NOI) $111,797 $127,421

New Taxes (Estimated) 1.17427 $29,944 $29,944 (-) Capital Expenditures $2,500 $2,500

Insurance $0.40/SF $1,773 $1,773 (-) Administrative $500 $500

Property Management 5% $8,070 $8,658 (=) Cash Flow Before Taxes (Unlevered) $108,797 $124,421 Repairs & Maintenance 3.50% $5,649 $6,061

Water $200/mo $2,400 $2,400 (-) Annual Debt Service $68,704 $68,704 Sewer $160/mo $1,920 $1,920

Electricity $75/mo $900 $900 (=) Cash Flow Before Taxes (Levered) $40,093 $55,717 Gas $20/mo $240 $240

Landscaping $70/mo $840 $840 (+) Principle Reduction $24,469 $24,469

(=) Total Return Before Taxes $64,562 $80,186 (-) Total Expenses $51,736 $52,735

Expense Ratio 32% 29% Cash Flow Before Taxes/Down Payment: 3.14% 4.37% (Levered)

(=) Net Operating Income (NOI) $111,797 $127,421 Total Return Before Taxes/Down Payment: 5.06% 6.29%

JBG | Lyon Stahl Lakeside Apartments | 16 PRO FORMA INCOME STATEMENT

Year 8 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Assumptions (Buyer's Year 1)

Income Growth 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

Vacancy / Credit Loss 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%

Expense Growth 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

Property Taxes 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Income (Buyer's Year 1)

Potential Base Rent $172,140 $177,304 $182,623 $188,102 $193,745 $199,557 $205,544 $211,710

(+) Other Income Subject to Occupancy $0 $0 $0 $0 $0 $0 $0 $0

(=) Potential Income Subject to Occupancy $172,140 $177,304 $182,623 $188,102 $193,745 $199,557 $205,544 $211,710

(-) Vacancy/Credit Loss 5% $8,607 $8,865 $9,131 $9,405 $9,687 $9,978 $10,277 $10,586

(=) Gross Operating Income $163,533 $168,439 $173,492 $178,697 $184,058 $189,580 $195,267 $201,125

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Expenses (Buyer's Year 1)

New Taxes (Estimated) 1.17427 $29,944 $30,543 $31,154 $31,777 $32,412 $33,060 $33,722 $34,396

Insurance $0.40/SF $1,773 $1,826 $1,881 $1,937 $1,995 $2,055 $2,117 $2,180

Property Management 5.00% $8,607 $8,865 $9,131 $9,405 $9,687 $9,978 $10,277 $10,586

Repairs & Maintenance 3.50% $6,025 $6,206 $6,392 $6,584 $6,781 $6,985 $7,194 $7,410

Water $200/mo $2,400 $2,472 $2,546 $2,623 $2,701 $2,782 $2,866 $2,952

Sewer $160/mo $1,920 $1,978 $2,037 $2,098 $2,161 $2,226 $2,293 $2,361

Electricity $75/mo $900 $927 $955 $983 $1,013 $1,043 $1,075 $1,107

Gas $20/mo $240 $247 $255 $262 $270 $278 $287 $295

Landscaping $70/mo $840 $865 $891 $918 $945 $974 $1,003 $1,033

(-) Total Operating Expenses $52,649 $53,929 $55,241 $56,587 $57,967 $59,381 $60,832 $62,320

(=) Net Operating Income $110,884 $114,510 $118,251 $122,110 $126,091 $130,198 $134,435 $138,805

JBG | Lyon Stahl Lakeside Apartments | 17 RETURN ON INVESTMENT – UNLEVERED

Net Operating Income $110,884 $114,510 $118,251 $122,110 $126,091 $130,198 $134,435 $138,805

(-) Cap Expenditures $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500

(-) Administrative $500 $500 $500 $500 $500 $500 $500

(=) Unlevered Cash Flow Before Taxes $107,884 $111,510 $115,251 $119,110 $123,091 $127,198 $131,435

(-) Annual Debt Service $68,704 $68,704 $68,704 $68,705 $68,704 $68,704 $68,704

(=) Levered Cash Flow Before Taxes $39,181 $42,807 $46,547 $50,405 $54,387 $58,494 $62,731

Return on Investment (Unlevered) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7

Purchase Price $2,550,000

(+) Escrow Fees $6,375

(+) Other Acquisition Costs $6,375

(=) Initial Investment (Unlevered) $2,562,750 $2,562,750 $2,562,750 $2,562,750 $2,562,750 $2,562,750 $2,562,750 $2,562,750

(-) Cap X (Accumulated) $2,500 $5,000 $7,500 $10,000 $12,500 $15,000 $17,500

(=) Total Investment (Unlevered) $2,565,250 $2,567,750 $2,570,250 $2,572,750 $2,575,250 $2,577,750 $2,580,250

Cash Flow Before Taxes (Unlevered) $107,884

(/) Initial Investment $2,562,750

(=) Cash on Cash (Unlevered) 4.21%

Cash Flow Before Taxes (Unlevered) $107,884 $111,510 $115,251 $119,110 $123,091 $127,198 $131,435

(/) Total Investment $2,565,250 $2,567,750 $2,570,250 $2,572,750 $2,575,250 $2,577,750 $2,580,250

(=) Tangible ROI (Unlevered) 4.21% 4.34% 4.48% 4.63% 4.78% 4.93% 5.09%

JBG | Lyon Stahl Lakeside Apartments | 18 RETURN ON INVESTMENT - LEVERED

Return on Investment (Levered) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7

Initial Investment (Unlevered) $2,562,750

(-) Loan Amount $1,275,000

(+) Loan Fees $12,750

(=) Initial Investment (Levered) $1,300,500 $1,300,500 $1,300,500 $1,300,500 $1,300,500 $1,300,500 $1,300,500 $1,300,500

(-) Cap X (Accumulated) $2,500 $5,000 $7,500 $10,000 $12,500 $15,000 $17,500

(=) Total Investment (Levered) $1,303,000 $1,305,500 $1,308,000 $1,310,500 $1,313,000 $1,315,500 $1,318,000

Cash Flow Before Taxes (Levered) $39,181 $42,807 $46,547 $50,405 $54,387 $58,494 $62,731

(+) Principle Reduction $24,469 $25,339 $26,240 $27,174 $28,140 $29,141 $30,177

(=) Total Return Before Taxes $63,649 $68,146 $72,788 $77,579 $82,528 $87,635 $92,908

Cash Flow Before Taxes (Levered) $39,181

(/) Initial Investment $1,300,500

(=) Cash on Cash (Levered) 3.01%

Cash Flow Before Taxes (Levered) $39,181 $42,807 $46,547 $50,405 $54,387 $58,494 $62,731

(/) Total Investment $1,303,000 $1,305,500 $1,308,000 $1,310,500 $1,313,000 $1,315,500 $1,318,000

(=) Tangible ROI (Levered) 3.01% 3.28% 3.56% 3.85% 4.14% 4.45% 4.76%

Total Return Before Taxes $63,649 $68,146 $72,788 $77,579 $82,528 $87,635 $92,908

(/) Initial Investment $1,300,500 $1,300,500 $1,300,500 $1,300,500 $1,300,500 $1,300,500 $1,300,500

(=) Non-Tangible ROI (Levered) 4.89% 5.24% 5.60% 5.97% 6.35% 6.74% 7.14%

Total Return Before Taxes $63,649 $68,146 $72,788 $77,579 $82,528 $87,635 $92,908

(/) Total Investment $1,303,000 $1,305,500 $1,308,000 $1,310,500 $1,313,000 $1,315,500 $1,318,000

(=) Blended ROI (Levered) 4.88% 5.22% 5.56% 5.92% 6.29% 6.66% 7.05%

JBG | Lyon Stahl Lakeside Apartments | 19 RENT COMPARABLES

1824 Montrose St 1701 Clinton St 1935 Kent St 1920 Clinton St 1 2 3 4 Los Angeles Los Angeles Los Angeles Los Angeles

Rent $2,850 Rent $3,400 Rent $3,395 Rent $3,600 Bed/Bath 2 Bed/2 Bath Bed/Bath 2 Bed/1 Bath Bed/Bath 2 Bed/2 Bath Bed/Bath 2 Bed/2 Bath Unit Size 950 SF Unit Size 843 SF Unit Size 700 SF Unit Size Price/SF $3.00 Price/SF $4.03 Price/SF $4.85 Price/SF Property Type APT Property Type Condo Property Type SFR Property Type Distance 0.11 mi Distance 0.14 mi Distance 0.18 mi Distance 0.22 mi

1828 Montrose St 1816 Santa Ynez St Unit 3/4 1902 Park Ave 1300 Glendale Blvd 5 6 7 8 Los Angeles Los Angeles Los Angeles Los Angeles

Rent $2,850 Rent $2,650 Rent $2,650 Rent $2,850 Bed/Bath 2 Bed/2 Bath Bed/Bath 2 Bed/1 Bath Bed/Bath 2 Bed/1 Bath Bed/Bath 2 Bed/1 Bath Unit Size 950 SF Unit Size 1,100 SF Unit Size Unit Size Price/SF $3.00 Price/SF $2.41 Price/SF Price/SF Property Type APT Property Type APT Property Type Duplex Property Type APT Distance 0.12 mi Distance 0.02 mi Distance 0.18 mi Distance 0.37 mi

JBG | Lyon Stahl Lakeside Apartments | 20 RENT COMPARABLES SUMMARY

PROPERTY DISTANCE RENT BED/BATH SIZE $/SF PROP TYPE

1 1824 Montrose St, Los Angeles 0.11 mi $2,850 2 Bed/2 Bath 950 SF $3.00 APT

2 1701 Clinton St, Los Angeles 0.14 mi $3,400 2 Bed/1 Bath 843 SF $4.03 Condo

3 1935 Kent St, Los Angeles 0.18 mi $3,395 2 Bed/2 Bath 700 SF $4.85 SFR

4 1920 Clinton St, Los Angeles 0.22 mi $3,600 2 Bed/2 Bath

5 1828 Montrose St, Los Angeles 0.12 mi $2,850 2 Bed/2 Bath 950 SF $3.00 APT

6 1816 Santa Ynez St Unit 3/4, Los Angeles 0.02 mi $2,650 2 Bed/1 Bath 1,100 SF $2.41 APT

7 1902 Park Ave, Los Angeles 0.18 mi $2,650 2 Bed/1 Bath Duplex

8 1300 Glendale Blvd, Los Angeles 0.37 mi $2,850 2 Bed/1 Bath APT

AVERAGES $3,031 909 SF $3.46

JBG | Lyon Stahl Lakeside Apartments | 21 SALES COMPARABLES

1 Sale Price $3,300,000 2 Sale Price $2,600,000 COE 9/9/2020 COE 10/6/2020

Year Built 1947 Year Built 1974

Units 7 Units 5

Price/Unit $471,429 Price/Unit $520,000

Building SF 4,858 Building SF 6,557

Price/SF $679.29 Price/SF $396.52

Lot SF 8,405 Lot SF 8,041

1000 W Kensington Rd CAP Rate 4.55% 1234 W Sunset Blvd CAP Rate Los Angeles GRM 14.30 Los Angeles GRM

3 Sale Price $5,900,000 4 Sale Price $3,400,000 COE 4/1/2020 COE 3/19/2020

Year Built 1960 Year Built 1990

Units 17 Units 8

Price/Unit $347,059 Price/Unit $425,000

Building SF 12,630 Building SF 5,632

Price/SF $467.14 Price/SF $603.69

Lot SF 15,245 Lot SF 5,998

1615 Park Ave CAP Rate 2.97% 1626 Palo Alto St CAP Rate 3.70% Los Angeles GRM 20.31 Los Angeles GRM 17.57

JBG | Lyon Stahl Lakeside Apartments | 22 SALES COMPARABLES

Sale Price $2,200,000 Sale Price $1,980,000 5 6 COE 11/10/2020 COE 12/7/2020

Year Built 2020 Year Built 1927

Units 4 Units 4

Price/Unit $550,000 Price/Unit $495,000

Building SF 5,288 Building SF 4,811

Price/SF $416.04 Price/SF $411.56

Lot SF 4,864 Lot SF 6,536

1718 W Miramar St CAP Rate 4.42% 810 Parkman Ave CAP Rate 4.32% Los Angeles GRM 14.69 Los Angeles GRM 15.03

S Asking Price $2,550,000 Sale Price COE N/A COE

Year Built 1986 Year Built

Units 5 Units

Price/Unit $510,000 Price/Unit

Building SF 4,432 Building SF

Price/SF $575.36 Price/SF

Lot SF 6,999 Lot SF

831 Glendale Blvd CAP Rate 4.38% CAP Rate Los Angeles GRM 14.81 GRM

JBG | Lyon Stahl Lakeside Apartments | 23 SALES COMPARABLES SUMMARY

YEAR PROPERTY COE SALE PRICE UNITS $/UNIT SF $/SF CAP RATE GRM LOT SIZE $/LOT SF BUILT

1 1000 W Kensington Rd, Los Angeles 9/9/2020 $3,300,000 1947 7 $471,429 4,858 $679.29 4.55% 14.30 8,405 $392.62

2 1234 W Sunset Blvd, Los Angeles 10/6/2020 $2,600,000 1974 5 $520,000 6,557 $396.52 8,041 $323.34

3 1615 Park Ave, Los Angeles 4/1/2020 $5,900,000 1960 17 $347,059 12,630 $467.14 2.97% 20.31 15,245 $387.01

4 1626 Palo Alto St, Los Angeles 3/19/2020 $3,400,000 1990 8 $425,000 5,632 $603.69 3.70% 17.57 5,998 $566.86

5 1718 W Miramar St, Los Angeles 11/10/2020 $2,200,000 2020 4 $550,000 5,288 $416.04 4.42% 14.69 4,864 $452.30

6 810 Parkman Ave, Los Angeles 12/7/2020 $1,980,000 1927 4 $495,000 4,811 $411.56 4.32% 15.03 6,536 $302.94

AVERAGES $468,081 $495.71 3.99% 16.90 $404.18

S 831 Glendale Blvd, Los Angeles $2,550,000 1986 5 $510,000 4,432 $575.36 4.38% 14.81 6,999 $364.34

JBG | Lyon Stahl Lakeside Apartments | 24 DEMOGRAPHICS

RENTER OCCUPIED HOUSING

75% 53%

37 1-mile LA VS $89,463 Median age of Radius County Average Household Neighborhood Income. residents (Echo Park Submarket) (Echo Park Submarket)

36.3% AFFLUENT DEMOGRAPHICS 3.86x of Neighborhood residents are between the age of SHAPING THE NEIGHBORHOOD Yearly% Growth Rate 25 and 44. Population Size (Echo Park Submarket) (Echo Park vs LA County) Echo Park's job and amenity rich environment has shaped the neighborhood into one of Los Angeles most attractive submarkets and has continued to draw a large HIGHLIGHTS concentration of young, well-educated professionals: Demographic / Economic “This high-demand, rapidly-evolving neighborhood, positioned between Silverlake and DTLA, is popular among tenants willing to pay well above the U.S. average 5.21% 75% rent” Housing units Yearly% Growth occupied by renters Median HH Income (Echo Park Submarket) 2010-2019 (1mi Radius) Residents are International Marketplace 47% “International Marketplace neighborhoods are a rich 28.54% blend of cultures, found in densely populated urban and suburban areas of the East and West Coasts” Of residents 94 Are Millennials WALK SCORE “Young, diverse family market and couples without (Echo Park Submarket) “Walker’s Paradise” children. Almost 40% of residents are foreign-born and workers are mainly employed in professional and service occupations”

JBG | Lyon Stahl Lakeside Apartments | 25 DEMOGRAPHICS

POPULATION SIZE MEDIAN HOUSEHOLD INCOME

Yearly %Growth Yearly %Growth Yearly %Growth Yearly %Growth 2010 2019 2024 2010-2019 2019-2024 2010 2019 2024 2010-2019 2019-2024

SUBJECT 1mi Radius 61,128 66,323 67,020 0.94% 0.21% 1mi Radius $36,334 $53,367 $55,894 5.21% 0.95%

SUBJECT 3mi Radius 521,468 567,152 573,371 0.97% 0.22% 3mi Radius $32,061 $45,339 $47,548 4.60% 0.97%

SUBJECT 5mi Radius 1,150,536 1,208,046 1,213,824 0.56% 0.10% 5mi Radius $34,215 $47,022 $48,986 4.16% 0.84%

LA COUNTY 9,823,250 10,039,100 9,865,100 0.24% -0.35%

MEDIAN HOUSEHOLD INCOME 1mi Radius 3mi Radius $60,000 600,000 68,000 67,020 67,000 66,323 580,000 573,371 66,000 567,152 65,000 560,000 $55,000 64,000 63,000 540,000 62,000 521,468 61,128 520,000 $50,000 61,000 60,000 500,000 59,000 0.94 % 0.21 % 0.97 % 0.22 % / year / year / year / year 58,000 480,000 $45,000 2010 2019 2024 2010 2019 2024

5mi Radius LA COUNTY 1,220,000 1,213,824 10,100,000 $40,000 1,208,046 1,210,000 10,050,000 10,039,100 1,200,000 1,190,000 10,000,000

1,180,000 9,950,000 $35,000 1,170,000 9,900,000 1,160,000 9,865,100 1,150,536 1,150,000 9,850,000 9,823,250 1,140,000 $30,000 9,800,000 1,130,000 2010 2019 2024 0.56 % 0.1 % 9,750,000 1,120,000 0.24 % -0.35 % / year / year / year / year 1,110,000 9,700,000 1mi Radius 3mi Radius 5mi Radius 2010 2019 2024 2010 2019 2024

JBG | Lyon Stahl Lakeside Apartments | 26 DEMOGRAPHICS

PROXIMITY TO JOBS MILLENIAL TENANT BASE

• The median age is 37, about average for the city of Los Echo Park is central to LAs most prominent and thriving Angeles and about average for the county employment centers. Downtown Los Angeles, which boasts • There are over 20,500 residents within the ages of 19 to more than 500,000 jobs. Additionally, within a 30-minute 49 and this makes up over half of Echo Park’s Population drive, residents can commute to over 900,000 jobs within Los Angeles' premier employment centers: • The percentage of residents ages 19 to 34 is among the county's highest

EMPLOYMENT OPPORTUNITY POPULATION AGE

EMPLOYMENT CENTER ESTIMATED # OF JOBS SF OF OFFICE AGE RESIDENTS 14,000

11,847 Downtown Los Angeles 500,000 70,000,000 0-10 7,528 12,000

10,000 Hollywood/Miracle Mile/ Wilshire District 256,000 31,000,000 11-18 4,366 8,780 8,000 7,528 Pasadena 100,000 7,500,000 19-34 11,847 6,000 4,666 West Hollywood 32,000 7,000,000 35-49 8,780 4,366 4,000 3,267 50-64 4,666 Century City 24,000 11,000,000 2,000

Beverly Hills 17,000 11,000,000 65+ 3,267 0 0-10 11-18 19-34 35-49 50-64 65+ TOTALS: 929,000 137,500,000 TOTAL 40,454 Age

JBG | Lyon Stahl Lakeside Apartments | 27 AREA OVERVIEW LOS ANGELES COUNTY

The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. The metropolis—formed by the six neighboring counties of Los Angeles, Ventura, Kern, San Bernardino ,Riverside, and Orange—is home to approximately 19 million residents.

Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is located on the Southern Coast of , and covers 4,061 square miles, including the San Clemente and Santa Catalina islands. The County is comprised of approximately 88 vibrant and diverse cities hosting more than 244,000 business establishments— the greatest concentration in the state. Los Angeles County has a Gross Domestic Product (GDP) of approximately $446 billion—placing it among the top 20 economies in the world.

Los Angeles County’s massive workforce is extremely diverse, with more minority and women owned businesses than any other in the nation and is the nation’s top international trade and manufacturing center. Los Angeles is recognized worldwide as a leader in entertainment, health sciences, business services, aerospace and international trade. While Hollywood and the Los Angeles beach culture are part of our collective image of Los Angeles, the city also has more museums than any other city and some of the best hotels in the world. Los Angeles County has developed a vast economic base, supported by a number of Fortune 500 companies with headquarters in the area, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTV Group, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel, and Avery Dennison.

COUNTY HIGHLIGHTS:

• Los Angeles County is the world’s 18th largest economy.

• Los Angeles part of the “Tech Coast” and is regarded as the ofthe main entrepreneurial regions of the world. It has approximately 200,000 small businesses, which is twice as many small businesses as can be found in any other region of the United States.

• If Los Angeles’ five county areas were a state, they would be the fourth largest in the UnitedStates.

• Los Angeles has more than 80 stage theaters and 300 museums, more than any otherU.S.city.

JBG | Lyon Stahl Lakeside Apartments | 28 AREA OVERVIEW ECHO PARK

ECHO PARK

Welcome to Echo Park, one of the most trendy, diverse and creative neighborhoods in bustling Los Angeles. What originally began as simply a water reservoir and the open space surrounding it, over the last century Echo Park has grown into a bustling community with over 40,000 residents with nearly as dense of a population as San Francisco. Drawing in young creatives, families and professionals, Echo Park is the epicenter of hip eateries, shops and entertainment with several neighborhoods of its own that accept no labels and draw in Angelenos of all kinds – being both one of the oldest neighborhoods in Los Angeles as well as one of the most culturally forward.

With a close proximity to Downtown L.A., Echo Park has quickly become known for its one-of-a-kind retail and dining experiences. Locals enjoy being near Sunset Boulevard, and Elysian Park, the city’s oldest public park. Property values are consistently on the rise in Echo Park, where both locals and visitors are continually drawn to the coolest new shop, restaurant or venue. Echo Park is the place for limitless opportunity to enjoy a constantly growing community full of Angelenos that value creative and eclectic brands and businesses.

JBG | Lyon Stahl Lakeside Apartments | 29 AREA OVERVIEW NOTABLE LANDMARKS

ECHO PARK LAKE

Of course, the Lakeside Apartments get their name from their adjacent location to the ever-popular Echo Park Lake. To provide more insight on the Lake itself, here is a brief overview of its rich history:

Echo Park Lake was originally a water reservoir built by the City of Los Angeles in 1870 to supply drinking water to the city. By 1892, it was declared a park and the Echo Park ‘suburb’ grew up around it. Given today’s massive size of Los Angeles, calling the district a suburb anymore would be a rather quaint notion. In 1934, during the Great Depression when civic-minded art projects were in vogue, an Art Deco statue “Nuestra Reina de Los Angeles" (a.k.a Queen of the Angeles) was erected on the northern shore of the lake. More recently (2011 to 2013), the park underwent a two-year renovation. The rebuilt and revised boathouse is a great breakfast “pit stop” for visitors who stroll around the park's paths, swim in the pool or pedal boat across the lake. Visitors also enjoy the canoes, tennis, fishing, and gazing at the flowering lotus garden. The south shore of the lake is a family-friendly destination, with its beautiful Downtown LA skyline in the background. Check out the Echo Park Recreation Center, home to many community programs, a Youth Center, and the outdoor tennis courts.

JBG | Lyon Stahl Lakeside Apartments | 30 AREA OVERVIEW NOTABLE LANDMARKS

ELYSIAN PARK DODGER STADIUM

Elysian Park is the city’s oldest public park and, at 575-acres, the Dodger Stadium is one of the true cathedrals of baseball, home to second largest after Griffith Park. It is home to numerous historic sites, some of the greatest moments in baseball history, unforgettable including the Los Angeles Police Academy and Barlow Hospital, that special events, and the iconic Dodger Dog. The Stadium was just are linked by miles of walking trails. Every effort is being made to injected with $100 Million Dollars worth of renovations this past year. establish the historical significance of this public park in order to A large children’s playground, a sports bar, and more accessible conserve it for future generations as a part of the Santa Monica transportation was added. As recent winners of the Mountains system of urban open space vital to the survival of the and with a promising young team on the field, Dodger Stadium human, animal and botanical denizens of these historic parklands. assures to be a staple and boon for the local economy for the foreseeable future.

JBG | Lyon Stahl Lakeside Apartments | 31 AREA OVERVIEW CULTURE & ENTERTAINMENT

ECHO PARK FARMER’S MARKET HISTORIC ARTS COMMUNITY

Beginning in 2006, the Echo Park Farmer’s Market has steadily grown to become a Echo Park’s dynamic environment has embraced the waves of gentrification while staple in this trendy neighborhood. As the number of farmers and producers maintaining its historical significance. The influx of trendy and high paying renters has participating begin to rise weekly, so too has the popularity of the market. spurred new development in the area, and has attracted numerous award-winning restaurants including the 55+ Echo Park Restaurants with 4+ stars on Yelp. Every Friday from 3pm – 7:30pm on Logan St at Sunset Blvd, The Echo Park Farmer’s Market brings together around 15 local farmers who set up their tables and offer a Additionally, Echo Park falls into the Enterprise Zone Program, which provides special wide variety of produce and value-added products like jams, jellies, honey, and fresh incentives to business owners to promote the creation of new jobs. The Enterprise farm-grown flowers. In addition, a bevy of hip food vendors and artisans congregate Zone designation has made it much easier for new business owners to open up shop to offer a unique shopping event for the Echo Park community. Furthermore, the live in a community where commercial rents have been on the rise in recent years. All said, music and community events make this weekly event a must try. In alignment with the Echo Park will always be Echo Park. This historic neighborhood is poised to maintain its budding surrounding neighborhood, the Echo Park Farmer’s Market displays the eclecticism and unique sense of place for a multitude of reasons including, but not vibrant and unique cultural experience desired by Los Angeles’ diverse millennial limited to, its historic architecture, its extraordinary – and beautifully unique – population topographic variation, as well as its engaged citizens who have gone great lengths to preserve the unparalleled charm of their Historic Arts Community

JBG | Lyon Stahl Lakeside Apartments | 32 THE TEAM

JOSH BARUT EVELYN BAEZ KEATON QUAACK STEPHEN BARUT LIC: # 01971720 LIC: # 02103055 SENIOR ASSOCIATE ASSOCIATE AGENT HEAD OF OPERATIONS BUSINESS OPERATIONS ANALYST LYON STAHL INVESTMENT LYON STAHL INVESTMENT JBG INVESTMENTS JBG INVESTMENTS REAL ESTATE REAL ESTATE ¡Habla español!

(562) 457-8126 (951) 902-3006 (562) 743-8204 (888) 570-2610

(310) 220-0774 (310) 598-1233 (310) 220-0774 [email protected]

[email protected] [email protected] [email protected]

JBG Investments is an investment sales group at Lyon Stahl Investment Real Estate consisting of (4) members that play (4) completely different roles, all of which equally important. Over the years, Josh Barut has been meticulously trained both in the field and in the classroom by his friend and mentor, Todd Weaver (CPM, CCIM), and attributes much of his passion for Commercial Real Estate to Todd’s teachings back at UCLA Extension. As a group, our mission is very simple: 1) Speak the language that garners respect from the Old Guard, and 2) Exude a level of positive energy that’s unique to us, and us only. Respect the Old School, Adhere to a Consistent Code of Ethics, and Enjoy the Process.

JBG | Lyon Stahl Lakeside Apartments | 33 55+ Community San Jacinto Con fid entialit y an d D isclaim er | Portfolio 03 CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should not be made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictest confidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property (“Property”). The information in this Memorandum has been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limited to the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmental requirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or business Property and does not purport to be an all – inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information and an opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough due diligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/ or to terminate discussions at any time with or without notice. The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

Notice to Prospective Buyer’s and/or their Representatives or any applicable parties:

1. Buyer(s), and/or Buyer's Agent(s), are NOT authorized to go onto the property and/or interact with the tenants in any capacity without Written Consent from the Seller

2. As is customary, there will be NO showings without Written Consent from the Seller. All Offers are to be submitted Subject to Interior Inspection

JBG | Lyon Stahl Lakeside Apartments | 34 LAKESIDE APARTMENTS | ECHO PARK

Exclusively Marketed by: Josh Barut Evelyn Baez Lyon Stahl | Senior Associate Lyon Stahl | Associate Agent Direct: (562) 457-8126 Direct: (951) 902-3006 [email protected] [email protected] 35