601-611 N Alvarado St & 2103-2127 Bellevue

601-611 N ALVARADO ST & 2103-2127 BELLEVUE AVE Los Angeles, CA 90026

MATTHEW R. KANNER Executive Managing Director | The Kanner Group of KW Commercial C: 323.605.2114 | P: 323.664.9033 | F: 323.395.0680 E: [email protected] | www.thekannergroup.com www.EchoParkCreativeCampus.com CalBRE: 01349203

TABLE OF CONTENTS

SECTION ONE...... 05 PROPERTY OVERVIEW

SECTION TWO...... 37 COMPARABLES

SECTION THREE...... 45 MARKET OVERVIEW

The information contained in this document has been obtained from sources believed reliable. While The Kanner Group does not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. The Kanner Group and The Kanner Group. logo are service marks of The Kanner Group 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.

SECTION 1 PROPERTY OVERVIEW

THE KANNER GROUP OF KW COMMERCIAL | 5 601-611 N ALVARADO ST & 2103-2127 BELLEVUE AVE - INVESTMENT SUMMARY

INVESTMENT SUMMARY

TYPE OF LIST PRICE $9,900,000 Owner-User/Investment OWNERSHIP

EST. SQFT (bldg) 25,420 SF* PRICE/SF (bldg) $389.46* 130’ *Per Plans *Per Plans **Per County Assessor 22,900 SF** **Per County Assessor $432.31**

2111-2115 TOTAL SQFT (lot) 33,908 SF PRICE/SF (lot) $291.97

260’ 5402-039-004, 5402-039-007, APN OCCUPANCY Single - Tenant 5402-039-009, 5402-039-011 2107 ZONING CM-1VL/P-1VL PARKING 52 Surface Spaces

611

601 607 ADDRESS PROPERTY TYPE YEAR BUILT

601 N Alvarado Street Creative Offices 1953

33,908 SF LOT 607 N Alvarado Street Creative Offices 1953

611 N Alvarado Street Creative Offices, Gym, Live/Work 1957

Creative Offices, Production Studio, 2107 Bellevue Ave 1927 & 1968 601-611 N ALVARADO ST. Live/Work 2103-2127 BELLEVUE AVE. ECHO PARK, CA 90026 2111-2115 Bellevue Ave Sound Stage, Parking 1977

2123 Bellevue Ave Parking N/A OWNER-USER OPPORTUNITY CREATIVE OFFICE CAMPUS 2127 Bellevue Ave Potential Parking N/A

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. 6 | References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 601-611 N ALVARADO ST & 2103-2127 BELLEVUE AVE - PROPERTY HIGHLIGHTS

• The shortage of studios in Hollywood and adjacent submarkets has • Potential to add value through combining space to add cubic square led to rising rental rates and limited availability. Further, demand by the footage, making office space considerably more valuable with 18+ft entertainment and technology industries including the high-profile ceilings, and building out private outdoor space off Live/Work Space B additions of Netflix and Viacom, have made Hollywood and adjacent patio. submarkets such as Silver Lake, Los Feliz and Echo Park the hottest creative office market, resulting in the lowest vacancy and highest rental • Located in Echo Park, the property is in a neighborhood that has rates for this specific use. undergone tremendous revitalization. It is directly adjacent to Downtown Los Angeles to the South, Silver Lake to the West, and Chinatown to the • Ideal corporate headquarters investment for an owner-user seeking a East, all of which are thriving submarkets. The property is less than a block lease savings trade-off. The purchase provides an owner-user investor from the 101 Freeway and CA-2, and 1.5 miles away from the 110 Freeway, protection against future rental market uncertainty and rate hikes, as well giving it excellent access to the greater Los Angeles region. as after-tax equity accumulation. • The Echo Park sub-market has seen a renaissance since the early 2000s, • Significant market constraints including limited office supply and increasing population and changing demographics, with a population of production space, coupled with growing demand from users desiring 58,370 in a 1 mile radius and an average household income of $74,861 live-wok proximity. (Per Esri 2018)

• Creative Office is ready for occupancy and easily modified to suit users’ • The property lies within an Enterprise Zone which provides incentives for needs! It features high ceilings, polished concrete floors, operable reduce parking requirements for some uses. windows, dedicated HVAC units, private patio and a great mix of private offices/meeting spaces and open workspace. On the mezzanine level • The square footage of the stages at the Campus Studio Lot is approximately is a fully-equipped gym and a work area Other amenities include open 5,742 SF. Full lighting grids are installed at 18’ on Stage 22 . There are wood truss ceiling, exposed Brick and a full kitchen. approximately 52 parking spaces available on site.

• The buildings are uniquely positioned for a variety of uses, including creative office, Media end-user and entertainment. This unique offering comes at a time when both studio and creative office space demand are at an all-time high.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 7 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 601-611 N ALVARADO ST & 2103-2127 BELLEVUE AVE - PROPERTY DESCRIPTION

SITE DESCRIPTION SPECIFICATION PHYSICAL DESCRIPTION SPECIFICATION

BUILDING ESTIMATED SIZE 25,420 SF* *Per Plans CONSTRUCTION TYPE Reinforced Masonry, Stucco **Per County Assesor 22,900 SF**

TOTAL LAND AREA 33,908 SF FOUNDATION Concrete Slab

NUMBER OF FLOORS 2-3 Stories FIRE PROTECTION Fire Extinguishers

FLOOR-TO-AREA RATIO 0.87 HVAC Roof Mounted

ZONING CM-1VL/P-1VL RESTROOMS 8

PARKING 52 Spaces CROSS STREET Bellevue Avenue

PARKING RATIO 1.53/1,000 SF HIGHWAY ACCESS 101, 110 and 5 Freeways

YEAR BUILT 1927, 1953, 1957, 1968, 1977 TRAFFIC COUNT ±44,000 Vehicles Per Day

CURRENT LEASE TERM(S) Vacant LOT DIMENSIONS 130’ x 260.5’

TRANSIT ORIENTED Tier 1 STREET FRONTAGE 130 Feet on Alvarado Street COMMUNITY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 8 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. *This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 9 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PLAT MAP

2127

2123

2111-2115

2107 BELLEVUE AVE BELLEVUE

601 607 611

N N ALVARADO ST

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 10 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. ZONING MAP N

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 11 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 3D RENDERING

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 12 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 3D RENDERING

2115 - 2127 Bellevue 2103 Bellevue 2107 Bellevue 601 - 607 Alvarado St 611 Alvarado St

B3: B1: B2: A1: A2: Estimated SF: 5,742 Estimated SF: 4,993 Estimated SF: 3,680 Estimated SF: 4,975 Estimated SF: 6,030 Year Built: 1977 Year Built: 1927 Year Built: 1968 Year Built: 1953 Year Built: 1957

Floor 1 (Sound Stage) Floor 1 (Brick Creative Office) Floor 1 (Production Studio) Floor 1 (Creative Office) Floor 1 (Creative Office) Mezzanine (Studio, Office/ Floor 2 (Brick Creative Office Floor 2 (Live/Work) Floor 2 (Storage/Lounge) Floor 1 + 3 (Live/Work) Dressing Room) Mezzanine) Floor 2 (Storage/Lounge) Floor 2 (Gym)

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 13 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. ESTIMATED BUILDING SQUARE FOOTAGE

EXHIBIT BUILDING FLOOR ADDRESS DESCRIPTION ESTIMATED SF per plans

Exhibit A B1 1 2107 Bellevue Brick creative office 4,193

Exhibit B B2 1 2107 Bellevue Production studio 1,840

Exhibit C A1 + A2 1 601-611 N Alvarado Creative office 6,261

Exhibit D A2 1 611 N Alvarado Lobby to 3rd floor live/work unit 238

Exhibit E B1 2 2107 Bellevue Brick creative office mezzanine 800

Exhibit F B2 2 2107 Bellevue Live/work unit 1,840

Exhibit G A1 2 601-607 N Alvarado Storage/lounge 1,011*

Exhibit H A2 2 611 N Alvarado Gym 960

Exhibit I A2 3 611 N Alvarado Live/work unit 2,535

A1, A2, B1, B2 TOTAL 19,678 SF

EXHIBIT BUILDING FLOOR ADDRESS DESCRIPTION ESTIMATED SF per assessor

Exhibit J+K B3 1 + 2 2115 - 2127 Bellevue "Stage 22": sound stage + mezzanine 5,742

AGGREGATE TOTAL 25,420 SF

*Additional estimated 3,000+ square feet of storage space not included in given estimated square footage of Exhibit G.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the ac- 14 | curacy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. EXISTING FIRST LEVEL FLOOR PLAN - A1, A2, B1, B2

CLOSET

OFFICE

BATH OFFICE

OFFICE OFFICE STUDIO BATH

GARAGE OFFICE A

KITCHEN B

OFFICE OFFICE

WC WC

OFFICE CLOTHING STORAGE OFFICE

OFFICE OFFICE WC

KITCHEN OFFICE C

OFFICE LOBBY

OFFICE OFFICE OFFICE D

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 15 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. EXISTING SECOND LEVEL FLOOR PLAN - A1, A2, B1, B2

SHOWER WC

CLOSET CLOSET KITCHEN OFFICE

LAUNDRY

CLOSET WC

OFFICE TUB F E TOILET

LIVING

CONFERENCE BATH

BATH

WC STORAGE STORAGE

STORAGE

LOUNGE GYM STORAGE G H CLOSET STORAGE

CHANDELIER SUPPORT

STORAGE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 16 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. EXISTING THIRD LEVEL FLOOR PLAN - A2

CLOSET SHOWER

LOUNGE BATH CLOSET F

KITCHEN LOUNGE

LOUNGE

LAUNDRY

WC PATIO I LOUNGE

OFFICE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 17 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. EXISTING SOUND STAGE + MEZZANINE FLOOR PLAN - B3 - STAGE 22

VIP ENTRANCE

WC WC LOUNGE K HAIR + WARDROBE 29' x 21' MAKE UP 15' x 13' PROD. 15' x 13' LOUNGE WC 18.5' x 12'

KITCHEN + BAR GRIP BALCONY 15.5' x 8' ROLL UP DOOR 15' x 8' 9.5' x 12'

PATIO 70' x 18'

J STORAGE BAY

SOUND STAGE 35' x 40' x 40' 30' x 3.5'

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 18 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 3D RENDERING

2115 - 2127 Bellevue 2103 Bellevue 2107 Bellevue 601 - 607 Alvarado St 611 Alvarado St

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 19 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B1 - FIRST FLOOR - BRICK CREATIVE OFFICE

CLOSET OFFICE 4 6

BATH OFFICE

OFFICE OFFICE 2 STUDIO BATH

3 GARAGE OFFICE

KITCHEN 9

1 4 8 10 OFFICE OFFICE 7 5

WC 2 WC 3

OFFICE CLOTHING STORAGE OFFICE

OFFICE OFFICE WC

KITCHEN OFFICE

OFFICE LOBBY

OFFICE OFFICE OFFICE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 20 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B1 - FIRST FLOOR - BRICK CREATIVE OFFICE

4 5 8

6 7

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 21 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B1 - SECOND FLOOR - BRICK CREATIVE OFFICE MEZZANINE

N 1 2 SHOWER WC 3 CLOSET CLOSET KITCHEN OFFICE

4 LAUNDRY

CLOSET WC

OFFICE TUB 2 TOILET

LIVING 1 CONFERENCE BATH

BATH 3 4

WC STORAGE STORAGE

STORAGE

LOUNGE GYM STORAGE

CLOSET STORAGE

CHANDELIER SUPPORT

STORAGE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 22 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B2 - FIRST FLOOR - PRODUCTION STUDIO

CLOSET N 1

OFFICE 3

BATH OFFICE

OFFICE OFFICE STUDIO BATH

GARAGE OFFICE

KITCHEN 1 2

OFFICE OFFICE

WC WC 2 3

OFFICE CLOTHING STORAGE OFFICE

OFFICE OFFICE WC

KITCHEN OFFICE

OFFICE LOBBY

OFFICE OFFICE OFFICE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 23 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. CLOSET

OFFICE

BATH OFFICE

OFFICE OFFICE STUDIO BATH

GARAGE OFFICE

KITCHEN PROPERTY PHOTOS: A2 - FIRST FLOOR - CREATIVE OFFICES

OFFICE OFFICE

2 N 1 2

WC WC 3 1 WC

OFFICE CLOTHING STORAGE OFFICE 6

OFFICE OFFICE WC

KITCHEN OFFICE 3

7 OFFICE LOBBY

OFFICE OFFICE 5 OFFICE 4

4 6 7

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 24 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. SHOWER WC

CLOSET CLOSET KITCHEN OFFICE

LAUNDRY

CLOSET WC

OFFICE TUB TOILET

LIVING

CONFERENCE BATH PROPERTY PHOTOS: A2 - SECOND FLOOR - GYM

N 1 BATH

WC STORAGE STORAGE 1

STORAGE 3

LOUNGE GYM STORAGE

CLOSET

STORAGE CHANDELIER 2 SUPPORT

STORAGE

2 3

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 25 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B3 - FIRST FLOOR - SOUND STAGE

N 18' - 20' Ceilings 1 WC LOUNGE 3 29' x 21'

5 WC

4 KITCHEN + BAR GRIP 15.5' x 8' ROLL UP DOOR 9.5' x 12'

PATIO 1 70' x 18' 2 STORAGE BAY

SOUND STAGE 35' x 40' x 40' 30' x 3.5'

2 3 4 5

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 26 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B3 - SECOND FLOOR - MEZZANINE

VIP ENTRANCE

10 8 10 WC 6

7 HAIR + 8 WARDROBE MAKE UP 15' x 13' PROD. 15' x 13' LOUNGE 18.5' x 12' 9 9

BALCONY N 15' x 8' 11

PARKING LOT

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 27 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. CLOSET

OFFICE

BATH OFFICE

OFFICE OFFICE STUDIO BATH

GARAGE OFFICE

KITCHEN PROPERTY PHOTOS: A1 - FIRST FLOOR - CREATIVE OFFICES

OFFICE OFFICE

WC WC

1 WC

OFFICE CLOTHING STORAGE OFFICE 3 N OFFICE OFFICE 2 WC

KITCHEN OFFICE 6 2 9 OFFICE 7 LOBBY

10 11 12 OFFICE OFFICE OFFICE 4 8

1 Ceiling Detail

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 28 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: A1 - FIRST FLOOR - CREATIVE OFFICES

6 9

7 8

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 29 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. SHOWER WC

PROPERTY PHOTOS: A1 - SECOND FLOOR - STORAGE/LOUNGECLOSET CLOSET KITCHEN OFFICE

LAUNDRY

CLOSET 1 WC

OFFICE TUB TOILET

LIVING

CONFERENCE BATH N

2 BATH 9 WC STORAGE STORAGE 3 4 6 STORAGE 8 5

LOUNGE GYM STORAGE 1

CLOSET STORAGE

CHANDELIER SUPPORT

7 STORAGE

2 3 4

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 30 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: A1 - SECOND FLOOR - STORAGE/LOUNGE

5 6

7 8 9

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 31 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B2 - SECOND FLOOR - LIVE/WORK

SHOWER 1 WC N

CLOSET CLOSET KITCHEN OFFICE 9 5 10 LAUNDRY

6 CLOSET WC 7

OFFICE TUB 2 TOILET

4 LIVING CONFERENCE BATH 8 1

BATH 2 3 4

WC STORAGE STORAGE

STORAGE

LOUNGE GYM STORAGE

CLOSET STORAGE

CHANDELIER SUPPORT

STORAGE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 32 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: B2 - SECOND FLOOR - LIVE/WORK

5 6

7 8 9 10

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 33 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: A2 - THIRD FLOOR - LIVE/WORK

N 1 CLOSET SHOWER

LOUNGE BATH 4 CLOSET 9

KITCHEN LOUNGE 7 3

1 LOUNGE

LAUNDRY 8

PATIO 10 LOUNGE 2

5 6 OFFICE

2 3 4

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 34 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PROPERTY PHOTOS: A2 - THIRD FLOOR - LIVE/WORK

5 6 7

8 9

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 35 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

SECTION 2 COMPARABLES

THE KANNER GROUP OF KW COMMERCIAL | 37 SOLD/FLEX COMPARABLES

601-611 N ALVARADO 2103-2127 BELLEVUE ECHO PARK, CA

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 38 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. SOLD/FLEX COMPARABLES

SUBJECT PROPERTY

A. 601-611 ALVARADO 1. 164 GLENDALE BLVD 2. 158-160 GLENDALE BLVD 3. 948 N CAHUENGA BLVD 4. 6640 W SUNSET BLVD & 2103-2127 BELLEVUE LOS ANGELES, CA 90026 ECHO PARK, CA 90026 HOLLYWOOD, CA 90038 HOLLYWOOD, CA 90028 ECHO PARK, CA 90026

SALE PRICE $9,900,000 SALE PRICE $7,650,000 SALE PRICE $6,575,000 SALE PRICE $14,000,000 SALE PRICE $10,000,000

DISTANCE N/A DISTANCE 0.9 Miles DISTANCE 1 Mile DISTANCE 4.3 Miles DISTANCE 5 Miles

PROPERTY Creative Office PROPERTY PROPERTY PROPERTY Manufacturing PROPERTY Office Building Warehouse Loft/Creative Space TYPE Campus TYPE TYPE TYPE Building TYPE

SALE DATE On Market SALE DATE 4/26/2018 SALE DATE 8/31/2018 SALE DATE 8/20/2018 SALE DATE 10/30/2018

SALE TYPE Investor/User SALE TYPE Owner-User SALE TYPE Investment SALE TYPE Investment SALE TYPE Owner-User

BLDG EST SF 25,420* SF BUILDING SF 14,395 SF BUILDING SF 18,812 SF BUILDING SF 27,806 SF BUILDING SF 12,960 SF

PRICE PER SF $389.46* PRICE PER SF $531.43 PRICE PER SF $349.51 PRICE PER SF $503.49 PRICE PER SF $771.60

LAND AREA 33,908 SF LAND AREA 19,297 SF LAND AREA 9,148 SF LAND AREA 25,265 SF LAND AREA 14,183 SF

LAND PER SF $291.97 LAND PER SF $390.27 LAND PER SF $718.77 LAND PER SF $554.13 LAND PER SF $705.06

1927, 1953, 1957, 1945 | 73 (Renovated YEAR BUILT YEAR BUILT TBD YEAR BUILT 1921 | 98 YEAR BUILT 1949 | 69 YEAR BUILT 1968, 1977 1990) FAR 0.37 FAR 2.06 FAR 1.10 FAR 0.87 FAR 0.91 TENANCY Multi-Tenant TENANCY Multi-Tenant TENANCY Single-Tenant TENANCY Single-Tenant TENANCY Multi-Tenant ZONING CW ZONING RC4 ZONING MR1-1-SN ZONING C4-2D-SN ZONING CM-1VL/P-1VL PARKING PARKING PARKING PARKING PARKING ±18 Spaces 12 Spaces 60 Spaces 50 Spaces 52 Spaces SPACES SPACES SPACES SPACES SPACES PARKING PARKING PARKING PARKING PARKING 1.25/1,000 SF 0.65/1,000 SF 2.16/1,000 SF 0.43/1,000 SF 1.53/1,000 SF RATIO RATIO RATIO RATIO RATIO

*Per plans This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 39 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. LEASE COMPARABLES

601-611 N ALVARADO 2103-2127 BELLEVUE ECHO PARK, CA

A. ALVARADO ST | BELLEVUE AVE - SUBJECT PROPERTY

1. 1441-1449 W TEMPLE ST | ECHO PARK, CA 90026 4. 1714 HILLHURST AVE | LOS FELIZ, CA 90027

2. 2807 SUNSET BLVD | LOS ANGELES, CA 90026 5. 109 N AVENUE 56 | HIGHLAND PARK, CA 90042

3. 2012 HYPERION AVE | LOS ANGELES, CA 90027

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy 40 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. LEASE COMPARABLES

SUBJECT PROPERTY

A. 601-611 ALVARADO & 2103-2127 BELLEVUE 1. 1441-1449 W TEMPLE ST 2. 2807 SUNSET BLVD ECHO PARK, CA 90026 ECHO PARK, CA 90026 LOS ANGELES, CA 90026

DISTANCE N/A DISTANCE 0.9 Miles DISTANCE 0.9 Miles

RENT PER SF TBD RENT PER SF $3.00/mo. RENT PER SF $3.00-$6.00/mo.

LEASABLE SF 25,420 SF* LEASABLE SF 3,000-15,350 SF LEASABLE SF 30,497 SF

YEAR BUILT 1927, 1953, 1957, 1968, 1977 YEAR BUILT 1968 YEAR BUILT 1928

PROPERTY TYPE Creative Office Campus PROPERTY TYPE Office Building PROPERTY TYPE Retail/Office/Loft/Creative

TYPE Modified Gross TYPE Triple Net TYPE Triple Net

3. 2012 HYPERION AVE 4. 1714 HILLHURST AVE 5. 109 N AVENUE 56 LOS ANGELES, CA 90027 LOS FELIZ, CA 90027 HIGHLAND PARK, CA 90042

DISTANCE 2.2 Miles DISTANCE 2.6 Miles DISTANCE 6.1 Miles

RENT PER SF $3.80/mo. RENT PER SF $4.09/mo. RENT PER SF $3.50-$4.00/mo.

LEASABLE SF 5,620 SF LEASABLE SF 4,640 SF LEASABLE SF 5,245 SF

YEAR BUILT 1938 YEAR BUILT 1975 YEAR BUILT 1923

PROPERTY TYPE Office Building PROPERTY TYPE Office Buidling PROPERTY TYPE Office Building

TYPE Triple Net TYPE Triple Net TYPE Triple Net

*Per plans This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 41 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. DOWNTOWN LOS ANGELES DOWNTOWN LOS ANGELES

±290,000 TRAFFIC COUNT

SECTION 3 MARKET OVERVIEW

THE KANNER GROUP OF KW COMMERCIAL | 45 S

DRIVE-TIME ANALYSIS

10 S S MIN 20 G 30

O 10 Minutes: Downtown LA, Silver Lake, Los Feliz, East A T O Hollywood, Atwater Village, Glassell Park E W20 Minutes: G Hollywood, Universal City, Burbank, A L

Glendale, Pasadena, La Canada L

Flintridge, La Crescenta, East Los Angeles W S L

E W 30 Minutes: O LAX, Beverly Hills, West Hollywood, Sher- Paciﬁc Palisades L A E LA man Oaks, Studio City, Huntington Park, D Montebello

Demographics Comparison by Drive Time S G

10 min 20 min 30 min D

Total Businesses 23,331 68,070 81,058 N Total Employees 284,465 773,235 820,331 Total Residential Population 481,909 1,599,418 2,429,867 Employee/Residential 59 48 34 Population Ratio (per 100 Residents) T A

Paciﬁc Ocean O G G This information has been secured from sources we believe to be reliable, but we make no representations or warranties,L expressed or implied, as to the accuracy 46 | of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. S A

N S

S L

UV S N

EDENDALE S L A NEW DEVELOPMENTS

W S ¦¨§ S L ¦¨§ E j S W S D S

G N S

VU A

A T O EO A E GLENDALE NTON E A D S N S W G

A L

¤£ A L ¤£ E L UV W T S S W

W S L

O L A S j S Pacific Palisades L A N A S E LA D N S UV SSON NTON N D W S S W T SS A six-story edifice featuring 200 market rate apartments and 22,000 square feet of street-floor commercial space 2 A Five small lot houses overlookingS A S Echo Park W S A four-story structure featuring 27 live/work apartments W S S G W 4 W S Two apartment buildings that would contain a total of 204 dwelling units N S D W S A mix of residential, retail and creative office uses, in addition to open space + a boutique hotel W D 13 single-family dwellings N 7 W D 17 small lot houses in Victor Heights N S 11 single-family residences N A S A four-story building featuring 27 apartments, ground-floor retail space, and one level of basement parking 10 W S 4-story, 36 residential units This information has been se- L S 9 small lot houses cured from sources we believe to be reliable, but we make no 12 E A A three-story structure featuring 35 studio apartments above 2,000 square feet of ground-floor retail space T representations or warranties, A G A five-story, 70-unit apartment complex featuring 62 standard flats, 8 street-fronting live/work units, and 8 units of dedicated affordable housing expressed or implied, as to the accuracy of the information. Ref- 14 L 5 three-story, 2,500 SF single-family residences along a private street, each featuring a two-car garage. erences to square footage or age W S An eight-story structure containing 77 residential units + 7 units of deed-restricted affordable housing + 63 parking stalls in a three-level podium are approximate. Buyer must verify the information and bears O W S A seven-story building featuring 70 apartments + 7 deed-restricted affordable units + 38 parking spaces in a two-level podium Pacific Ocean all risk for any inaccuracies. G G 17 N T A three-story building featuring 28 residential units above a basement parking garage L | 47 S A

AREA OVERVIEW - ECHO PARK

Surrounded by Elysian Park, Elysian Valley, Silver Lake and Chinatown, Echo Park has become a very desirable neighborhood due to its cultural diversity, architectural charm, and classic Los Angeles living. Thoroughfares such as Sunset Boulevard—just 1.3 miles to the north of the property, Temple Street, and Beverly Boulevard are lined with new local businesses and popular nightlife spots that make Echo Park one of the trendiest areas in Los Angeles. Adding to the area’s vibrant culture, Echo Park is home to numerous art festivals which take place year-round, as well as popular music venues including The Echo, Bootleg Theater, and the Echoplex. Recreational neighborhood landmarks include the historic Baxter Steps, Laveta Terrace Stairway, and Elysian Park, all within close proximity to the property. The newly renovated Echo Park Lake, located just 0.8 miles away, features a walking path, picnic area, paddle boats, and beautiful lotus flower gardens, celebrated in a lotus festival each year.

DISTRICTS WITHIN ECHO PARK: Angelino Heights • Elysian Heights • Historic Filipinotown • Victor Heights

TOP ECHO PARK ATTRACTIONS:

ECHO PARK LAKE THE ECHOPLEX • Home to the famous “Lady of the Lake” statue • 350-person music venue that is home to big name • Recently underwent a $45 million renovation performers and independent rock acts

BAXTER STREET STAIRS ORIGAMI VINYL • Popular place to exercise; fascinating views of Down- • One of the best record stores in Los Angeles; located town Los Angeles, Griffith Observatory, and the Hol- on Sunset Boulevard lywood sign DODGER STADIUM CARROLL AVENUE • One of baseball’s oldest ballparks, hosting the Los • Street lined with Victorian manors that date to the Angeles Dodgers since 1962 19th century VALERIE TEA HOUSE & BAKERY CHAVEZ RAVINE ARBORETUM • Popular breakfast, pastry, and afternoon tea joint • Features over 100 varieties of trees from all over the world MOHAWK BEND • California craft beers & a locally sourced American EL PRADO menu with vegan options in a brick-walled space. • Wine and beer bar

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, 48 | expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. AREA OVERVIEW - SILVER LAKE

Silver Lake is a trendy and vibrant community located east of Hollywood and northwest of Downtown. Recently rated the hippest neighborhood in the country by Forbes maga- zine, Silver Lake is bordered by Atwater Village, Elysian Valley, Echo Park, Westlake, Los Feliz, and East Hollywood. This neighborhood was named and built around the Silver Lake Reservoir. Silver Lake is famous for the notable individuals who have lived there, its restaurants, and its nightlife (bars/clubs). The neighborhood has three public and four private schools. Beginning in the 1970s, the Silver Lake neighborhood started to develop its own unique culture. Since 2000, gentrification has intensified in the neighborhood, including the opening of many stylish independent boutiques, coffee shops, fitness studios, and restaurants.

Silver Lake is a very creative neighborhood and therefore, it attracts art and film-oriented residents. The neighborhood was home to Walt Disney’s first large studio from 1925 to 1939, located at Hyperion Avenue and Griffith Park Boulevard. Since the 1990s, Silver Lake has become the center of the alternative and indie rock scene in Los Angeles. The neighborhood was home to two major street festivals each year: the Silver Lake Jubilee and the Sunset Junction Street Fair. The last festival was held in 2010. Since the indie rock music scene is particularly prominent in this neighborhood, comparisons are often drawn between Silver Lake and New York City’s Wil- liamsburg district. As a result, it is sometimes referred to as the “Williamsburg of the West”.

TOP SILVER LAKE ATTRACTIONS:

SILVER LAKE RESERVOIR BROOME STREET GENERAL STORE TENANTS OF THE TREES • Includes the Silver Lake Recreation Center, the Sil- • Store-café with outdoor seating; serves Gimme • Dimly lit nightspot serving inventive craft cocktails ver Lake Walking Path (which circumnavigates the coffee and Cube sandwiches in a rustic-chic setting with outdoor space reservoirs ±2.25 miles), and the Silver Lake Meadow CLIFF’S EDGE THE SATELLITE GELSONS • Bugalow-like shaded restaurant with delicious dish- • Once a gay disco called Dreams, this indie rock • Contemporary market with a range of standard, or- es, overarching trees,and a rustic, romantic feel venue then became known as Spaceland and is ganic & gourmet grocery items, plus prepared fare now called The Satellite; known as an incubator for THE BLACK CAT the Silver Lake independent rock scene WHOLE FOODS • Upscale American gastropub in a historic location • Eco-minded chain with natural & organic grocery related to the LGBTQ civil rights movement SILVERLAKE WINE items, housewares & other products • Boutique wine shop on Glendale Boulevard, which ROCKAWAY RECORDS focuses on educating the community about small SILVER LAKE FARMERS MARKET • Inventory of new and rarely used records; wide col- wine productions and holds weekly tasting events • Open-air marketplace for local produce, vintage lection of memorabilia clothing & prepared food, Tuesdays & Saturdays, and movie night in the spring and summer

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 49 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. AREA OVERVIEW - LOS FELIZ

Los Feliz, a hillside neighborhood in central Los Angeles, is bordered by Griffith Park, Atwater Village, Silver Lake, East Hollywood, and Hollywood. The neighborhood is named after its colonial Spanish-Mexican land grantee, José Vicente Feliz. Rancho Los Feliz had a succession of owners after the Feliz family. One owner, Griffith J. Griffith, donated over half of the ranch to the city of Los Angeles and the ranch became one of the largest city-owned parks in the country (Griffith Park).

Los Feliz is known for its entertainment and architectural history— it has been home to movie stars, musicians, and the Hollywood elite. It boasts some of the best-known residential architecture in the city, including two homes designed by Frank Lloyd Wright. Mickey Mouse was “born” in Los Feliz: Walt Disney drew his first image of the now-legendary character in the garage of his uncle’s house, located in Los Feliz. Disney’s first and second animation studios were also located in Los Feliz.

DISTRICTS WITHIN LOS FELIZ: The Los Feliz Hills— contains multimillion-dollar homes • Los Feliz Estates— north of Los Feliz Boulevard Laughlin Park • Los Feliz Village • Los Feliz Square • Los Feliz Knolls • Franklin Hills

TOP LOS FELIZ ATTRACTIONS:

GRIFFITH OBSERVATORY HOMESTATE • Art deco landmark from 1935 features a • Austin, Texas-inspired breakfast tacos high-tech planetarium, public telescopes & breath-taking city views. SKYLIGHT BOOKS • Independent bookstore with a wonderfully THE GREEK THEATRE curated selection of books • Completed in 1929 and renovated since then, the Greek Theatre is designed with LITTLE DOM’S over 6,000 seats; today, contemporary • Hip Italian spot known for fixed-price and classical music acts consistently Monday suppers, bustling brunches & an perform here attached deli.

BAR COVELL VISTA THEATRE • Beers on tap and wonderful place to • Single-screen theatre originally open to learn about wine the public in 1923; seats around 400 per- sons ALL TIME • Espresso bar & patio by Tyler Wells ALCOVE CAFÉ AND BAKERY (Handsome Coffee) with breakfast & • Popular, trendy, casual café, which attracts lunch options customers from all over Los Angeles

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. DEMOGRAPHICS DEMOGRAPHICS

.5 MILE 1 MILE 3 MILE .5 MILE 1 MILE 3 MILE

Place of Work Job Type

Daytime Employment (Total Employees) 2,743 8,958 355,357 Blue Collar 17.15% 19.26% 23.33%

Population White Collar 59.13% 54.74% 50.11%

2015 Population 12,319 43,601 502,591 Service & Farm 23.72% 26.00% 26.56%

2020 Population 12,828 45,182 522,936 Housing Value

Percent Pop Change: 2015 to 2020 4.13% 3.63% 4.05% 2015 Median Home Value $622,804 $565,236 $520,905

Age 2015 Average Home Value $667,458 $632,469 $605,750

2015 Median Age 35.65 35.46 35.82 Housing Units

2015 Average Age 37.29 37.06 37.41 2015 Housing Units 5,202 16,532 203,111

Households 2015 Occupied Housing Units 4,841 15,437 186,997

2015 Households 4,841 15,437 186,997 2015 Vacant Housing Units 361 1,096 16,114

2020 Households 5,098 16,161 196,607 2015 Owner-Occupied Housing Units 999 3,386 28,479

Percent HH Change: 2015 to 2020 5.32% 4.69% 5.14% 2015 Renter-Occupied Housing Units 3,842 12,051 158,518

Average Household Size 2.54 2.76 2.56

Household Income

2015 Average Household Income $59,031 $58,291 $50,256

2020 Average Household Income $62,663 $61,410 $51,881

CBRE | 17 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the THE KANNER GROUP OF KW COMMERCIAL | 51 accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. MATTHEW R. KANNER Executive Managing Director The Kanner Group of KW Commercial

C: 323.605.2114 P: 323.664.9033 F: 323.395.0680 E: [email protected] www.thekannergroup.com CalBRE: 01349203

ALEX KANNER Senior Director The Kanner Group of KW Commercial

C: 323.219.1846 P: 323.300.1772 F: 323.395.0680 E: [email protected] www.thekannergroup.com CalBRE: 01962448

2150 Hillhurst Ave www.EchoParkCreativeCampus.com Los Angeles, CA 90027