20-Unit Apartment Building Value-Add Opportunity No Rent Control 8151 Reseda Blvd., Reseda, California Camelot Apartments

Price: $5,200,000

LAURIE LUSTIG-BOWER KADIE PRESLEY WILSON www.8151Reseda.com Executive Vice President Vice President Lic 00979360 Lic 01476551 +1 310 550 2556 +1 310 550 2575 [email protected] [email protected]

TABLE OF CONTENTS

Executive Summary P. 6

Financial Analysis P.12

Area Overview P.21

CONTACTS:

LAURIE LUSTIG-BOWER KADIE PRESLEY WILSON Executive Vice President Vice President Lic 00979360 Lic 01476551 +1 310 550 2556 +1 310 550 2575 [email protected] [email protected]

www.8151Reseda.com SOUTH WESTERN EXPOSURE

WARNER CENTER

ROSCOE BLVD

8151 RESEDA BLVD

RESEDA BLVD

DIGNITY CANTARA ST CANTARA HEALTH

5 www.8151Reseda.com EXECUTIVE SUMMARY

www.8141Reseda.com EXECUTIVE SUMMARY CBRE, Inc. as exclusive agent, is pleased to present for sale Camelot Apartments, a value-add 20-unit garden-style building located in the San Fernando Valley neighborhood of Reseda. The property is priced well below replacement cost at $272 per square foot and offers immediate upside as the rents are below market and the building is not rent controlled. At the asking price of $5,200,000, the current cap rate is 4.65% with a GRM of 12.6. We estimate that if a buyer were to spend roughly $20,000 per unit in upgrades, the buyer would achieve a 5.21% cap rate “all in”, including the renovation costs. Built in 1987, the property features a desirable unit mix of 18 two- bedroom units and two one-bedroom units averaging almost 900 square feet per unit. The building has gated garage parking with at least one space per bedroom. Units are separately metered for gas and electricity and feature central heat and air conditioning. Camelot Apartments is located one block to Dignity Health Center, with an employment base of over 1,600 people, and is a five minute drive to California State University Northridge, which had a 2017/2018 enrollment of approximately 38,000 students and employs approximately 4,000 people.

Price: $5,200,000 Current Cap Rate: 4.65% | Market Cap Rate “All In”: 5.21% Current GRM: 12.6 | Market GRM: 12.0 Price Per Unit : $260,000 Price Per SF: $272 OPPORTUNITY HIGHLIGHTS • Great Value-Add Opportunity • No Rent Control • Current Cap Rate: 4.65% | Market Cap Rate “All In”: 5.21% • Priced Below Replacement Costs • Great Central San Fernando Valley Location: - One block to Dignity Health Center ±1,600 employees - Five minute drive to Cal State University Northridge ±38,000 student enrolled 2017/2018 ±4,000 employees - Five minute drive to the Metrolink Northridge Commuter Rail Station Connects Downtown Los Angeles with Ventura County Station has free on-site parking - Seven minute drive to the MTA Orange Line Connects Downtown Los Angeles to the western San Fernando Valley Station has free on-site parking and bike lockers PROPERTY DESCRIPTION

8151 Reseda Blvd. PARCEL MAP ADDRESS Reseda, CA 91335 APN: 2103-007-013 Lot Size: ±16,993 SF NUMBER OF UNITS 20

YEAR BUILT 1987

Gated Parking Garage 16 Single Spaces PARKING 26 Tandem Spaces 42 Spaces Total

BUILDING SIZE ±19,098 SF

Water, Sewer, Trash - Landlord Pays UTILITIES Gas, Electric - Tenant Pays

MECHANICAL Central Heating & AC

UNIT MIX

UNIT TYPE UNITS AVERAGE SF

1 Bed/1 Bath 2 ±650

2 Bed/2 Bath 18 ±925

Total 20 ±898

9 www.8151Reseda.com UNIT FEATURES • Central Heating and Air Conditioning • Separately Metered for Gas & Electricity • In-Suite Bathroom in Master Bedroom (most units) • Hot Water Heater • Dishwasher • Garbage Disposal • Gas Stoves • Balconies (10 units)

COMMUNITY AMENITIES • Gated Parking Garage - One Space per Bedroom • Large Common Area Patio with Picnic Furniture • Secured Community with Lobby Entry • Dedicated Storage - a total of 22 storage units

ON-SITE LAUNDRY FACILITY Washer 2 Units $1.50/load

Dryer 2 Units $1.25/load

Leased to WASH Multifamily Laundry Systems on a month-to-month basis.

10 www.8151Reseda.com LOBBY 11 www.8151Reseda.com FINANCIAL ANALYSIS

www.8151Reseda.com Camelot Apartments 8151 Reseda Blvd. 8151 RESEDA BLVD, RESEDA, CA 91335 Rent RRollENT RasO LLof AS February OF 02.26 .26,2019 2019

Unit Number Approx SF Type Curent Rent Current Rent/SF Market Rehab Rent MKT-RHB Rent/SF Move-In Lease End Note 101 925 2 Bed/2 Bath $1,670 $1.81 $2,000 $2.16 08/13/13 m-t-m large balcony 102 925 2 Bed/2 Bath $1,730 $1.87 $1,950 $2.11 11/01/02 m-t-m 103 925 2 Bed/2 Bath $1,730 $1.87 $1,950 $2.11 06/05/04 m-t-m 104 925 2 Bed/2 Bath $1,630 $1.76 $1,950 $2.11 06/09/17 m-t-m balcony 105 925 2 Bed/2 Bath $1,675 $1.81 $1,950 $2.11 04/26/17 m-t-m 106 650 1 Bed/1 Bath $1,350 $2.08 $1,580 $2.43 08/29/16 m-t-m 107 925 2 Bed/2 Bath $1,700 $1.84 $1,950 $2.11 01/01/13 m-t-m balcony 108 925 2 Bed/2 Bath $1,695 $1.83 $1,950 $2.11 07/28/16 m-t-m 109 925 2 Bed/2 Bath $1,655 $1.79 $1,950 $2.11 03/01/14 m-t-m balcony 110 925 2 Bed/2 Bath $1,750 $1.89 $1,950 $2.11 02/01/11 m-t-m balcony 201 925 2 Bed/2 Bath $1,730 $1.87 $2,000 $2.16 10/31/09 m-t-m large balcony 202 925 2 Bed/2 Bath $1,690 $1.83 $1,950 $2.11 11/01/13 m-t-m 203 925 2 Bed/2 Bath $1,695 $1.83 $1,950 $2.11 08/16/14 m-t-m 204 925 2 Bed/2 Bath $1,655 $1.79 $1,950 $2.11 09/27/13 m-t-m balcony 205 925 2 Bed/2 Bath $1,950 $2.11 $1,950 $2.11 02/22/16 - On-site Manager 206 650 1 Bed/1 Bath $1,300 $2.00 $1,580 $2.43 01/01/96 m-t-m 207 925 2 Bed/2 Bath $1,950 $2.11 $1,950 $2.11 - - Vacant; balcony 208 925 2 Bed/2 Bath $1,795 $1.94 $1,950 $2.11 09/18/18 09/17/19 209 925 2 Bed/2 Bath $1,795 $1.94 $1,950 $2.11 02/01/18 01/31/19 Granite counters; balcony 210 925 2 Bed/2 Bath $1,765 $1.91 $1,950 $2.11 07/01/11 m-t-m balcony Total $33,910 $38,360 Average $1,696 $1.89 $1,918 $2.14

13 www.8151Reseda.com 8151 RESEDA BLVD, RESEDA, CA 91335 CURRENT OPERATIONS

INVESTMENT PRO FORMA ESTIMATED INCOME Annual % of EGI Per Unit Comments Rent Income $33,910 per mon. $406,920 101.3% $20,346 Based on Current Rent Roll Total Scheduled Gross Income $406,920 101.3% $20,346 Vacancy 3.0% of SGI ($12,208) -3.0% ($610) Estimated Total Net Rental Income $394,712 98.3% $19,736 Parking Income $150 per mon. $1,800 0.4% $90 $50 per month for three extra spaces Repair Reimbursement $15 per mon. $175 0.0% $9 Based on 2018 Actual Laundry Income $255 per mon. $3,058 0.8% $153 Based on 2018 Actual Other Income $165 per mon. $1,980 0.5% $99 Based on 2018 Actual TOTAL ESTIMATED INCOME $401,725 100.0% $20,086

ESTIMATED EXPENSES Annual % of Exp. % of EGI Per Unit Property Taxes 1.193270% of est. price $62,050 38.8% 15.4% $3,103 Based on Price Direct Assessments $2,225 1.4% 0.6% $111 Assessor's Office Business Taxes $1,221 0.8% 0.3% $61 Insurance $0.35 per GSF $6,684 4.2% 1.7% $334 Estimated On-Site Manager $1,900 per mon. $22,800 14.3% 5.7% $1,140 Manager's Free Rent for 2-bedroom unit Building Office Expense $187 per mon. $2,245 1.4% 0.6% $112 Based on 2018 Actual Legal Fees $50 per mon. $600 0.4% 0.1% $30 Estimated Repairs and Maintenance $400 per unit $8,000 5.0% 2.0% $400 Estimated Utilities $3,089 per mon. $37,067 23.2% 9.2% $1,853 Based on 2018 Actual Turnover $200 per unit $4,000 2.5% 1.0% $200 Estimated Reserves $250 per unit $5,000 3.1% 1.2% $250 Industry Standard TOTAL ESTIMATED EXPENSES $159,892 100.0% 39.8% $7,995

ESTIMATED NET OPERATING INCOME $241,834 60.2% $12,092

Price $5,200,000 Capitalization Rate 4.65% Gross Rent Multiplier 12.6 Unit Type Units Mix Avg SF Avg Rent Rent/SF Est. Sales Price Per Unit $260,000 1 Bed/1 Bath 2 10.0% 650 $1,325 $2.04 Price Per Sq. Ft. $272 2 Bed/2 Bath 18 90.0% 925 $1,737 $1.88 Number of Units 20 Est. Expenses Per Unit $7,995 Est. Expenses Minus Taxes Per Unit $4,781 Est. Expenses Per Sq. Ft. $8.37 Bldg. Sq. Ft. 19,098 Total 20 100.0% 898 $1,696 $1.89 Year Built 1987 APN 2103007013 Zip Code 91335 Date 2/27/2019 14 www.8151Reseda.com 8151 RESEDA BLVD, RESEDA, CA 91335 FORECASTED OPERATIONS

INVESTMENT PRO FORMA ESTIMATED INCOME Annual % of EGI Per Unit Comments Rent Income $38,360 per mon. $460,320 103.6% $23,016 Based on MKT-RHB Rent Roll Total Scheduled Gross Income $460,320 103.6% $23,016 Vacancy 5.0% of SGI ($23,016) -5.2% ($1,151) Estimated Total Net Rental Income $437,304 98.4% $21,865 Parking Income $150 per mon. $1,800 0.4% $90 $50 per month for three extra spaces Repair Reimbursement $15 per mon. $175 0.0% $9 Based on 2018 Actual Laundry Income $255 per mon. $3,058 0.7% $153 Based on 2018 Actual Other Income $165 per mon. $1,980 0.4% $99 Based on 2018 Actual TOTAL ESTIMATED INCOME $444,317 100.0% $22,216

ESTIMATED EXPENSES Annual % of Exp. % of EGI Per Unit Property Taxes 1.193270% of est. price $62,050 40.7% 14.0% $3,103 Based on Price Direct Assessments $2,225 1.5% 0.5% $111 Assessor's Office Business Taxes $1,275 0.8% 0.3% $64 Insurance $0.35 per GSF $6,684 4.4% 1.5% $334 Estimated On-Site Manager $1,950 per mon. $23,400 15.3% 5.3% $1,170 Manager's Free Rent for 2-bedroom unit Building Office Expense $187 per mon. $2,245 1.5% 0.5% $112 Based on 2018 Actual Legal Fees $50 per mon. $600 0.4% 0.1% $30 Estimated Repairs and Maintenance $400 per unit $8,000 5.2% 1.8% $400 Estimated Utilities $3,089 per mon. $37,067 24.3% 8.3% $1,853 Based on 2018 Actual Turnover $200 per unit. $4,000 2.6% 0.9% $200 Estimated Reserves $250 per unit $5,000 3.3% 1.1% $250 Industry Standard TOTAL ESTIMATED EXPENSES $152,546 100.0% 34.3% $7,627

ESTIMATED NET OPERATING INCOME $291,771 65.7% $14,589

Price $5,200,000 Renovation Costs (assumes $20k/unit) $400,000 Price Including Renovation Costs $5,600,000 Capitalization Rate (Including Renovation Costs) 5.21% Gross Rent Multiplier (Including Renovation Costs) 12.0 Unit Type Units Mix Avg SF Avg Rent Rent/SF Est. Sales Price Per Unit (Including Renovation Costs) $280,000 1 Bed/1 Bath 2 10.0% 650 $1,580 $2.43 Price Per Sq. Ft. (Including Renovation Costs) $293 2 Bed/2 Bath 18 90.0% 925 $1,956 $2.11 Number of Units 20 Est. Expenses Per Unit $7,627 Est. Expenses Minus Taxes Per Unit $4,414 Est. Expenses Per Sq. Ft. $7.99 Bldg. Sq. Ft. 19,098 Total 20 100.0% 898 $1,918 $2.14 Year Built 1987 APN 2103007013 Zip Code 91335 Date 3/5/2019

15 www.8151Reseda.com 5 8151 RESEDA BLVD 1

2 RENT SURVEY 6

8151 Reseda Blvd.

1 Northview - Southview Apartments 3 2 8001 Reseda Blvd.

3 Blue North Apartments

4 Royal Villas

5 8155 Reseda Blvd.

6 Villa Sorrento

16 www.8151Reseda.com

© 2019 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:6116259 RENT COMPARABLES 1 COMPARABLE 1 NORTHVIEW-SOUTHVIEW APARTMENTS 2 + 2 0 + 1 8111 Reseda Blvd 19% 15% Reseda, CA 91335 Year Built: 1976 Units: 160 PHOTO Occupancy: 95% 2 + 1 16% Phone: 818-616-6977 Owner: Davlyn Investments Manager: Davlyn - Northview Southview 1 + 1 50% Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 23 $1,515 - $2,040 450 $3.37 - $4.53 1 + 1 80 $1,700 - $2,240 687 $2.47 - $3.26 2 + 1 26 $1,890 - $2,975 850 $2.22 - $3.50 2 + 2 31 $2,185 - $2,610 1,025 $2.13 - $2.55

Amenities: Swimming Pool Controlled Access Spa Parking - some carport Community BBQ Fitness Center Elevator Laundry Facility Walk-in Closets A/C Patio/Balcony 2 CCOOMMPPAARRAABBLLEE 24 8RO00YAL1 R EVILLASSEDA 2 +2 2 + 2 0 + 1 3 + 2… 80018040 Reseda Blvd 11%14% 4% Resada,Reseda, CA 91335 Year Built: 19621969 Units: 5688 PPHHOOTTOO Occupancy: 100%97% Phone: 818-345-8233818-701-9160 Owner: YairMiracle Kempler Mile Properties Manager: YairMiracle Kempler Mile - Royal Villas 1 1+ +1 1 82%86% TTypype NNuumber of Uniittss EEffffeccttiivvee RReenntt UUnniitt SSqquuaarree FFeeeett RReenntt ppeerr SSFF 10 + 1 484 $1,497$1,207 600576 $2.50$2.10 21 + 21 726 $1,918$1,460 850690 $2.26$2.12 32 + 2 122 $2,053$1,838 1,000900 $2.05$2.04

AAmmenittiies: Swimming Pool Controlled Access LaundryWalk-in FacilitiesClosets FullGated Covered surface Parking parking Renovated units Laundry Facility Wall unit A/C Laminate style floors 17 www.8151Reseda.com COMPARABLE 3 BLUE NORTH APTS 2 + 2 0 + 1 7850 Reseda Blvd 10% 25% Reseda, CA 91335 Year Built: 1978 Units: 40 Occupancy: 95% Phone: 818-481-4672 Owner: 7850 Reseda Blvd LLC Manager: Moss & Company 1 +1 65% Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 10 $1,450 - $1,495 525 $2.76 - $2.85 1 +1 26 $1,695 825 $2.05 2 + 2 4 $2,025 - $2,095 995 $2.04 - $2.11

Amenities: Swimming Pool Controlled Access Laundry Facility Gated Parking - some carport Central A/C - select units Stainless Steel Appliances - select units Granite or Quartz Counter Tops - select units Patio/Balcony - select units Wood-Style Flooring COMPARABLE 2 8001 RESEDA 2 + 2 3 + 2… 8001 Reseda Blvd 11% Resada, CA 91335 Year Built: 1962 Units: 56 PHOTO Occupancy: 100% Phone: 818-345-8233 Owner: Yair Kempler Manager: Yair Kempler 1 + 1 86% Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 48 $1,497 600 $2.50 2 + 2 6 $1,918 850 $2.26 3 + 2 2 $2,053 1,000 $2.05

Amenities: Swimming Pool Controlled Access Laundry Facilities Full Covered Parking RENT COMPARABLES 3 CCOOMMPPAARRAABBLLEE 3 1 NOBLURETHVIEW-S NORTH AOPTUSTHVIEW APARTMENTS 2 + 2 0 + 1 2 + 2 0 + 1 8111 Reseda Blvd 19% 15% 7850 Reseda Blvd 10% 25% Reseda, CA 91335 Year Built: 19781976 Units: 40160 PHOTO 2 + 1 Occupancy: 95% 16% Phone: 818-481-4672818-616-6977 Owner: Davlyn7850 Reseda Investments Blvd LLC Manager: DavlynMoss & - CompanyNorthview Southview 1 +1 1 + 1 65% 50% TypType NNuumbeerr ooff UUnniittss EEffffeecctitivvee R Reenntt UUnniti tS qSquuaarer eF eFeetet ReRnetn pt epre Sr FSF 0 + 1 1023 $1,450$1,515 - - $1,495 $2,040 525450 $2.76$3.37 - - $2.85 $4.53 11 ++1 1 2680 $1,700$1,695 - $2,240 825687 $2.47$2.05 - $3.26 2 + 21 264 $2,025$1,890 - - $2,095 $2,975 995850 $2.04$2.22 - - $2.11 $3.50 2 + 2 31 $2,185 - $2,610 1,025 $2.13 - $2.55

AmAmenitities: Swimming Pool ControlledControlled AccessAccess LaundrySpa Facility GatedParking Parking - some - some carport carport CommunityCentral A/C BBQ- select units StainlessFitness Center Steel Appliances - select units GraniteElevator or Quartz Counter Tops - select unitsLaundry Facility Walk-inPatio/Balcony Closets - select units Wood-StyleA/C Flooring Patio/Balcony 4 COMPARABLE 4 ROYAL VILLAS 2 + 2 0 + 1 8040 Reseda Blvd 14% 4% Reseda, CA 91335 Year Built: 1969 Units: 88 PHOTO Occupancy: 97% Phone: 818-701-9160 Owner: Miracle Mile Properties Manager: Miracle Mile - Royal Villas 1 + 1 82% Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 4 $1,207 576 $2.10 1 + 1 72 $1,460 690 $2.12 2 + 2 12 $1,838 900 $2.04

Amenities: Swimming Pool Controlled Access Walk-in Closets Gated surface parking Renovated units Laundry Facility Wall unit A/C Laminate style floors

18 www.8151Reseda.com COMPARABLE 6 VILLA SORRENTO 2 + 2 0 + 1 7947 Reseda Blvd 3% 13% Reseda, CA 91335 Year Built: 1970 Units: 93 PHOTO Occupancy: 98% Phone: 818-342-6505 Owner: Miracle Mile Properties Manager: Miracle Mile Properties 1 + 1 84% Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 12 $1,212 372 $3.26 1 + 1 78 $1,462 - $1,560 589 $2.48 - $2.49 2 + 2 3 $1,509 - $1,750 900 $1.68 - $1.94

Amenities: Controlled Access Swimming Pool Spa Laundry Facilities RENT COMPARABLESElevator Gated Surface Parking Private Balcony/Patio in Select Units

5 COMPARABLE 5 8155 RESEDA BLVD 2 + 2 8155 Reseda Blvd 5% Reseda, CA 91335 Year Built: 1978 Units: 37 PHOTO Occupancy: 100% Phone: 818-715-0575 Owner: Sylvan Property LLC 1 + 1 Manager: North Oak Real Estate Inc. 95%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 35 $1,595 663 $2.41 2 + 2 2 $1,845 - $2,012 966 $1.91 - $2.08

Amenities: Stainless Steel Appliances Granite Countertops Gated Carport 6 COMPARABLE 6 VILLA SORRENTO 2 + 2 0 + 1 7947 Reseda Blvd 3% 13% Reseda, CA 91335 Year Built: 1970 Units: 93 PHOTO Occupancy: 98% Phone: 818-342-6505 Owner: Miracle Mile Properties Manager: Miracle Mile Properties 1 + 1 84% Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 12 $1,212 372 $3.26 1 + 1 78 $1,462 - $1,560 589 $2.48 - $2.49 2 + 2 3 $1,509 - $1,750 900 $1.68 - $1.94

Amenities: Controlled Access Swimming Pool Spa Laundry Facilities Elevator Gated Surface Parking Private Balcony/Patio in Select Units

COMPARABLE 5 8155 RESEDA BLVD 2 + 2 8155 Reseda Blvd 19 5% www.8151Reseda.com Reseda, CA 91335 Year Built: 1978 Units: 37 PHOTO Occupancy: 100% Phone: 818-715-0575 Owner: Sylvan Property LLC 1 + 1 Manager: North Oak Real Estate Inc. 95%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 35 $1,595 663 $2.41 2 + 2 2 $1,845 - $2,012 966 $1.91 - $2.08

Amenities: Stainless Steel Appliances Granite Countertops Gated Carport SELECT APARTMENT SALES COMPARABLESSelect Apartment OVER Sales $270 Comparables PSF Over $270 PSF 10-50 Units in Reseda, Northridge, Lake Balboa, Tarzana and Encino 10-50 Units in Reseda, Northridge, Lake Balboa, Tarzana and Encino Sold February 1, 2017 to February 24, 2019 Sold February 1, 2017 to February 24, 2019 Source: CoStar; Sorted by Price Per SF Source: CoStar; Sorted by Price Per SF Address City Zip Code Units Sale Price Cap Rate GRM $/Unit $/SF Bldg SF Yr Blt Sale Date 7123 Tampa Ave Reseda 91335 22 $12,598,318 - 13.34 $572,651 $330 38,170 2018 01/08/19 18528 Chase St Northridge 91324 28 $10,498,000 4.55 14.27 $374,929 $327 32,058 2017 03/06/18 5505 Zelzah Ave Encino 91316 27 $9,500,000 - 26.50 $351,852 $322 29,536 1978 04/11/18 5204 Yarmouth Ave Encino 91316 29 $9,325,000 - - $321,552 $312 29,936 1971 02/17/17 6930 Balboa Blvd Lake Balboa 91406 10 $5,550,000 5.90 12.57 $555,000 $301 18,438 2016 08/24/17 18543-18545 Clark St Tarzana 91356 29 $8,300,000 3.57 14.88 $286,207 $278 29,884 1962 01/10/18 7122 Amigo Ave Reseda 91335 14 $4,430,000 4.29 15.09 $316,429 $277 16,000 2013 03/24/17 18600 Burbank Blvd Tarzana 91356 19 $5,200,000 6.58 - $273,684 $274 18,958 1964 04/30/18 17931 Devonshire St Northridge 91325 28 $6,125,000 - 13.00 $218,750 $273 22,466 1963 06/30/17 18634 Clark St Tarzana 91356 30 $7,285,000 4.69 13.55 $242,833 $271 26,840 1962 12/19/17 18540 Wyandotte St Reseda 91335 12 $2,960,106 4.38 - $246,676 $271 10,906 1989 03/16/18

20 www.8151Reseda.com AREA OVERVIEW

www.8151Reseda.com AREA RETAIL MAP

NORTHRIDGE FASHION CENTER Plummer St CAL STATE UNIVERSITY Employee Count NORTHRIDGE 4,000 Tampa Ave Tampa

Nordhoff St Louise Ave 3M Co White Oak Ave White Reseda Blvd Balboa Blvd NORTHRIDGE Employee Count STATION Lindley Ave Parthenia St 400 Parthenia St METRO LINK VENTURA COUNTY LINE

Employee Count DIGNITY HEALTH Roscoe Blvd Roscoe Blvd 1,646 Wilbur Ave H VAN NUYS AIRPORT

Strathern St Strathern St 8151

RESEDA BLVD Louise Ave White Oak Ave White Tampa Ave Tampa Saticoy St Saticoy St Reseda Blvd Lindley Ave Wilbur Ave Balboa Blvd Sherman Way Sherman Way

22 www.8151Reseda.com

Layout ID:L04 MapId:6100581 TRANSPORTATION LINKAGES metro.net 8151 Reseda Blvd. is located within the primary trade corridor of the West San Fernando Valley. The property is proximate to the 101, 405, 27, and 118 freeways, providing access to the entire amtrak.com LosMetro Angeles Metro Area. The & Property Regional is served by nearby transit routes, Rail and shuttles. The Metro metrolinktrains.com Orange Line provides access to the west to Warner Center, north to Chatsworth and east to Van Nuys, Laurel Canyon and North Hollywood. The Metro Red Line subway provides service from North Hollywood to Universal City, Hollywood and Downtown Los Angeles.

SAN LUIS OBISPO COUNTY Antelope Valley Line

Amtrak Pacific Surfliner Lancaster

San Luis Obispo Palmdale Grover Beach LOS ANGELES COUNTY Vincent Grade/Acton SAN BERNARDINO Guadalupe SANTA BARBARA Via Princessa COUNTY Surf COUNTY Santa Clarita

Goleta Ventura County Line Newhall

Santa Barbara Ventura - East Sylmar/San Fernando

Carpinteria Sun Valley Metrolink Ventura County Line Ventura Oxnard CamarilloMoorparkSimi Valley Northridge Van Nuys Burbank/BobAirport HopeBUR

Chatsworth Amtrak & Metrolink eseda lvd 8151R B Burbank - Downtown Nordhoff SAN FERNANDO VALLEY VENTURA Lake Allen Sierra MadreArcadia VillaMonroviaDuarte/CityIrwindale of HopeAzusa DowntownAPU/Citrus College

Roscoe LA Metro GOLD LINE FOOTHILL EXTENSION COUNTY Orange Line Glendale 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

Hollywood/Highland South Pasadena

Hollywood/VineLAX FlyAway Highland Park

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

Vermont/Santa Monica Lincoln/Cypress Rail Station Chinatown Vermont/Beverly Transfer PURPLE LINE EXTENSION Wilshire/WesternWilshire/Normandie Union Station Station BuswayStation Wilshire/Vermont Amtrak & Metrolink CivicGrandGrandGrandGrand Ctr/Civic Ctr/ParkParkParkPark Metrolink LAX FlyAway LAC+USC MedicalCal State Ctr LA El Monte Westlake/MacArthur Park WESTSIDE El MonteBaldwin ParkCovina Pomona -Claremont North MontclairUpland Rancho CucamongaFontana Rialto San Bernardino Busway Street REGIONAL San Bernardino Line Service CONNECTOR Regional 7th St/Metro Ctr Rail Pico Pershing Inland Empire - Square Orange County Line UNDER Station LATTC/Ortho Soto CONSTRUCTION Institute LittleArts Tokyo/ Dist Indiana Atlantic DOWNTOWN Pico/Aliso Maravilla

LA Mariachi Plaza Grand/LATTC East LA Civic Ctr Metro Rail Downtown17th Santa St/SMC Monica26th St/BergamotExpo/BundyExpo/SepulvedaWestwood/RanchoPalms Culver Park CityLa Cienega/JeffersonExpo/La BreaFarmdaleExpo/CrenshawExpo/WesternExpo/VermontExpoPark/USC Pedley EASTSIDE / 37th St/ San Pedro St USC Red Line SANTA North Hollywood to Union Station Montebello/Commerce Riverside Line MONICA Jefferson/USC Washington Industry Pomona - DowntownOntario - East Jurupa Valley Purple Line Riverside - Downtown Wilshire/Western to Union Station Slauson Vernon Blue Line

Los Angeles River Angeles Los Riverside - Hunter Park/UCR SOUTH LA Slauson Downtown LA to Long Beach CRENSHAW/ www.8151Reseda.com 23 LAX LINE Moreno Valley/March Field Expo Line PACIFIC OCEAN Manchester Florence Riverside - La Sierra Downtown LA to Santa Monica Perris - Downtown Firestone Commerce Green Line Redondo Beach to Norwalk Perris - South 103rd St/ Gold Line Watts Towers Corona - North Main 91/Perris Valley Line East Los Angeles to Azusa Willowbrook/ LAX Shuttle G Crenshaw Harbor Fwy Rosa Parks LAX Aviation/LAXHawthorne/LennoxVermont/Athens Avalon Long Beach LakewoodBl NorwalkBl Metro Busway Norwalk/Santa Fe Springs

Rosecrans Compton Corona - West Mariposa Buena Park Orange Line Chatsworth to North Hollywood Harbor Artesia El Segundo Gateway Fullerton RIVERSIDE Silver Line Transit Ctr GATEWAY CITIES San Pedro to El Monte Del Amo Douglas Street Service in Downtown LA COUNTY and San Pedro Carson Wardlow Redondo Beach Anaheim Anaheim Canyon Willow St Regional Rail SOUTH BAY Pacific Pacific Coast Hwy Amtrak Coast amtrak.com Hwy Anaheim St Orange ORANGE Amtrak Pacific Surfliner

Pacific 5th St Santa Ana COUNTY Metrolink Av metrolinktrains.com San Pedro Downtown 1st St Tustin Antelope Valley Line Long Beach LAX FlyAway Inland Empire - Irvine Orange County Line Orange County Line Laguna Niguel/Mission Viejo SAN DIEGO Riverside Line San Juan Capistrano San Bernardino Line COUNTY Ventura County Line 91/Perris Valley Line

San Clemente

San Clemente Pier Airport Shuttle

Oceanside LAX FlyAway Carlsbad lawa.org/flyaway Inland Empire - Orange County Line Solana Beach LAX Shuttle (free) lawa.org Orange County Line Sorrento Valley

Old Town

NORTHRIDGE COMMUTER RAIL (METROLINK VENTURA COUNTY LINE) 5 MINUTES

TRANSIT/SUBWAY

RESEDA STATION (MTA ORANGE LINE) 7 MIN

AIRPORT

VAN NUYS AIRPORT 8 MINUTES

BOB HOPE AIRPORT (BURBANK) 24 MINUTES

LOS ANGELES INTERNATIONAL AIRPORT 36 MINUTES

24 www.8151Reseda.com California State University – Northridge NEARBY PUBLIC COLLEGES/ UNIVERSITIES

California State University – Northridge 18111 Nordhoff St, Northridge, CA 91330

Distance from Site: 1.6 miles or 5 minute drive time

Types of Programs Offered: Bachelors Degrees (BA / BS), Masters Degrees (MA/MS)

Annual Student Headcount: • 2014-2015: 38,436 • 2015-2016: 39,654 • 2016-2017: 38,018 • 2017-2018: 37,708

Los Angeles Pierce College 6201 Winnetka Ave, Woodland Hills, CA 91371

Distance from Site: 4.6 miles or 10 minute drive time

Types of Programs Offered: Associate Degrees (AA /AS), Occupational Certification Programs (C)

Annual Student Headcount: • 2014-2015: 31,331 • 2015-2016: 31,160 • 2016-2017: 31,020 • 2017-2018: 29,087

25 Los Angeles Pierce College www.8151Reseda.com NEARBY EMPLOYMENT CENTERS

8151 1. WOODLAND HILLS/WARNER CENTER RESEDA BLVD EMP. EMP. COMPANY TOTAL COMPANY TOTAL 21ST CENTURY 1200 FARMERS GROUP 500 HOLDING COMPANY

HEALTH-NET, INC. 1000 BLUE CROSS BLUE 400 SHIELD PIERCE COLLEGE 1000 LOS ANGELES 300 PRATT & WHITNEY 1000 DAILY NEWS INNOVATIVE 405 1000 PANAVISION INV. 300 MERCHANT SOLUTIONS

3. SHERMAN OAKS COMPANY EMP. 1 2. ENCINO TOTAL EMP. COMPANY TOTAL AVIDA CAREGIVERS 500

ENCINO-TARZANA 800 MORAVEE AGENCY 500 REGIONAL HOSPITAL PROSPECT 400 ANSWER MORTGAGE, LLC 325 FINANCIAL INC. PREMIERE 300 NETWORKS

2 Warner Center is considered the 3 “Downtown” of the San Fernando and Conejo Valley office markets with over EMPLOYERS IN SURROUNDING AREAS SUCH AS WARNER CENTER, ENCINO 6.9 million square feet of office space. AND SHERMAN OAKS, ARE WITHIN A 14 MINUTE DRIVE TIME.

26 www.8151Reseda.com RESEDA

Reseda ranks among the San Fernando Valley’s most densely populated urban infill communities: A population of nearly 578,000 within a five-mile radius is forecasted by 2021. Proximity to key employment centers, nearby entertainment venues, ready freeway access, and outdoor recreation amenities combine to make Reseda an attractive submarket to live, work and play.

Reseda boasts an excellent, central location within the western San Fernando Valley that is minutes away from employers, institutions of higher learning, shopping and dining in Warner Center, Northridge, Encino, and Sherman Oaks. Also within convenient driving distance are Agoura Hills, North Hollywood Arts District, Universal City, Burbank, Glendale, Pasadena, and Downtown Los Angeles. SAN FERNANDO VALLEY

The San Fernando Valley, or “the Valley” as it is generally known, encompasses most of the northern portion of the City of Los Angeles. It is bounded on the west by the Santa Susana Mountains, on the north by the San Gabriel Mountains, on the east by the Verdugo Hills, and on the south by the Santa Monica Mountains.

Home to 1.77 million people, the Valley has become one of the most densely populated areas in Los Angeles County. The Valley’s bustling economy employs over 700,000 people and boasts a significant percentage of Los Angeles County’s media and entertainment firms, aerospace, technology, manufacture, finance, health, insurance and real estate companies.

With its highly diversified development, the San Fernando Valley boasts some of Southern California’s premier employer concentrations, destination retail, tourist attractions, and residential living.

27 www.8151Reseda.com WARNER CENTER

Located approximately 6.3 miles from 8151 Reseda Blvd is The Village at Westfield Topanga, the Warner Center’s just-completed 550,000 square foot premier destination retail center. Retailers at The Village include Fleurish Flower Bar, REI, Costco, YogaWorks, Tender Greens, Sushi Katsu-ya, and Il Fornaio Cucina Italiana.

Year-round arts & culture events, entertainment, & dining options within 6-mile radius to property site

WESTFIELD PROMENADE Located approximately 6.7 miles from 8151 Reseda Blvd at W. Oxnard St. is the Westfield Promenade shopping mall. Anchored by AMC Theater, dining options at the Promenade include Ruth’s WESTFIELD TOPANGA REGIONAL SHOPPING CENTER Chris Steak House, P.F. Chang’s China Bistro, Maggiano’s Little Located approximately 5.5 miles from 8151 Reseda Blvd, at Italy and Corner Bakery Cafe. Victory Boulevard, is Westfield Topanga, one of Southern California’s top regional retail destinations. Home to more than 260 top brands, including Cartier, Jimmy Choo, Salvatore SHERMAN OAKS GALLERIA Ferragamo, Louis Vuitton, Burberry, Gucci and Tiffany & Co. Located eight miles from the Property on Ventura and Sepulveda Other tenants include Abercrombie & Fitch, Anthropologie, Boulevards is the open-air Sherman Oaks Galleria shopping mall. H&M, Hugo Boss, Kevin’s Jewelers, Lacoste, Lego, Lenscrafters, With its 300,000 square feet of retail floor space. L’Occitane En Provence, Lucky Brand Jeans, Macy’s, Nordstorm, Swarovki, Target, Tesla, Urban Outfitters, Victoria’s Secret, Tenants and Lifestyle include Urban Home, 24 Hour Fitness, Williams Sonoma and Zara. Arclight Cinemas, Burke Williams Spa and Paul Mitchell.

Dining options at Westfield Topanga include California Pizza Dining options include Hana Grill, P.F. Chang’s China Bistro, Kitchen, The Cheesecake Factory, Gyu-Kaku, La Vaca Brazilian Robeks Juice, Salad Farm, Ben & Jerry’s and The Cheesecake Grill, Sorabol Korean BBQ, Starbucks Coffee, and Yogurtland. Factory.

28 www.8151Reseda.com WARNER CENTER

Warner Center employers engage in a diverse range of sectors including real estate, transportation, insurance, accounting, banking, manufacturing and government. Local employers include:

Zenith Insurance Intuit Inc. The California Wellness United Online Inc. Redbox Foundation Unico American Corp Merrill Lynch Oplink Communications Rach Local Inc. Activision Publishing Music Reports Inc. Pierce College ATK Defense Electronics Medtek Net Inc. Girl Scouts of Greater Systems Anthem Blue Cross Los Angeles Viking River Cruises ReachLocal LLC Avnet Inc. Medesthetica Medical Group

29 www.8151Reseda.com DEMOGRAPHIC BRIEF

8151 RESEDA BLVD

1 MILE AREA DEMOGRAPHICS

1 MILE

In 2018, 34,988 people lived within a one mile radius of the Property and the 8151 population is projected to grow RESEDA BLVD to 35,862 by 2023.

Within a one mile radius there were 8,437 employees and 1,050 businesses in 2018.

The average 2018 household income within a one mile radius was $74,419, which is projected to grow to $90,497 by 2023.

30 www.8151Reseda.com NAME LATITUDE LONGITUDE

8151 RESEDA BLVD 34.218639 -118.5365205

©2019 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. 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. Source: Esri ProjectID:422377 Woodland Studio Hills 8151 City RESEDA BLVD

Downtown

PACIFIC OCEAN AFFILIATED BUSINESS DISCLOSURE

CBRE, Inc. operates within a global family of companies with many subsidiaries 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, and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgment 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 will act 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 acknowledgment 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 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.

CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective Owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

32 www.8151Reseda.com 20-Unit Apartment Building Value-Add Opportunity No Rent Control 8151 Reseda Blvd., Reseda, California Camelot Apartments

Price: $5,200,000

LAURIE LUSTIG-BOWER KADIE PRESLEY WILSON www.8151Reseda.com Executive Vice President Vice President Lic 00979360 Lic 01476551 +1 310 550 2556 +1 310 550 2575 [email protected] [email protected]