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South Pasadena, Ca Affiliated Business Disclosure and Confidentiality Agreement

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South Pasadena, Ca Affiliated Business Disclosure and Confidentiality Agreement RAMONA 1831 RAMONA AVENUE | SOUTH PASADENA, CA AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT CBRE, Inc. operates within a global family of This Memorandum contains selected information contents, and no legal commitment or obligation shall companies with many subsidiaries and/or related pertaining to the Property and does not purport to be a arise by reason of your receipt of this Memorandum or entities (each an “Affiliate”) engaging in a broad range representation of the state of affairs of the Property or use of its contents; and you are to rely solely on your of commercial real estate businesses including, but not the owner of the Property (the “Owner”), to be all- investigations and inspections of the Property in limited to, brokerage services, property and facilities inclusive or to contain all or part of the information evaluating a possible purchase of the real property. management, valuation, investment fund management which prospective investors may require to evaluate a The Owner expressly reserved the right, at its sole and development. At times different Affiliates may purchase of real property. All financial projections and discretion, to reject any or all expressions of interest or represent various clients with competing interests in the information are provided for general reference offers to purchase the Property, and/or to terminate same transaction. For example, this Memorandum purposes only and are based on assumptions relating discussions with any entity at any time with or without may be received by our Affiliates, including CBRE to the general economy, market conditions, notice which may arise as a result of review of this Investors, Inc. or Trammell Crow Company. Those, or competition and other factors beyond the control of Memorandum. The Owner shall have no legal other, Affiliates may express an interest in the property the Owner and CBRE, Inc. Therefore, all projections, commitment or obligation to any entity reviewing this described in this Memorandum (the “Property”) may assumptions and other information provided and Memorandum or making an offer to purchase the submit an offer to purchase the Property and may be made herein are subject to material variation. All Property unless and until written agreement(s) for the the successful bidder for the Property. You hereby references to acreages, square footages, and other purchase of the Property have been fully executed, acknowledge that possibility and agree that neither measurements are approximations. Additional delivered and approved by the Owner and any CBRE, Inc. nor any involved Affiliate will have any information and an opportunity to inspect the Property conditions to the Owner’s obligations therein have obligation to disclose to you the involvement of any will be made available to interested and qualified been satisfied or waived. Affiliate in the sale or purchase of the Property. In all prospective purchasers. In this Memorandum, certain instances, however, CBRE, Inc. will act in the best documents, including leases and other materials, are By receipt of this Memorandum, you agree that this interest of the client(s) it represents in the transaction described in summary form. These summaries do not Memorandum and its contents are of a confidential described in this Memorandum and will not act in purport to be complete nor necessarily accurate nature, that you will hold and treat it in the strictest concert with or otherwise conduct its business in a way descriptions of the full agreements referenced. confidence and that you will not disclose this that benefits any Affiliate to the detriment of any other Interested parties are expected to review all such Memorandum or any of its contents to any other entity offeror or prospective offeror, but rather will conduct its summaries and other documents of whatever nature without the prior written authorization of the Owner or business in a manner consistent with the law and any independently and not rely on the contents of this CBRE, Inc. You also agree that you will not use this fiduciary duties owed to the client(s) it represents in the Memorandum in any manner. Memorandum or any of its contents in any manner transaction described in this Memorandum. detrimental to the interest of the Owner or CBRE, Inc. Neither the Owner or CBRE, Inc, nor any of their This is a confidential Memorandum intended solely for respective directors, officers, Affiliates or If after reviewing this Memorandum, you have no your limited use and benefit in determining whether representatives make any representation or warranty, further interest in purchasing the Property, kindly return you desire to express further interest in the acquisition expressed or implied, as to the accuracy or this Memorandum to CBRE, Inc. of the Property. completeness of this Memorandum or any of its © 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes 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. 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. CONTACT PRISCILLA NEE Senior Vice President +1 310 550 2508 [email protected] Lic. 01435254 SARA KHERADMANDAN Client Services Coordinator +1 310 550 2527 [email protected] TABLE OF CONTENTS I. ASSET OVERVIEW II. FINANCIALS III. SALES COMPARABLES IV. RENT COMPARABLES V. MARKET OVERVIEW TABLE OF CONTENTS 3 ASSET OVERVIEW 1831 RAMONA AVENUE | SOUTH PASADENA THE OFFERING CBRE, Inc. is proud to exclusively present 1831 Ramona Avenue, located one block north of Huntington Drive and one block west of Fremont Avenue in the city of South Pasadena. 1831 Ramona Avenue offers an investor the rare opportunity to own an excellent piece of real estate in one of the healthiest and most coveted rental submarkets within the West San Gabriel Valley 1831 Ramona Avenue is a 10 unit multifamily property, constructed in 1963 on a ±11,117 square foot lot, with a total building size of ±9,888 square feet. The two-story property is separately metered for gas and electric, and offers a central water heater, an on-site laundry room, an enclosed trash area, and 17 carport and tuckunder parking spaces. 1831 Ramona Avenue boasts an excellent unit mix of one one-bedroom/one-and-one-half- bathroom unit, eight two-bedroom/one-and-three-quarters-bathroom units, and one three- bedroom/two-bathroom unit. The spacious units offer carpet and vinyl flooring, a gas stove, dishwasher in select units, wall units for cooling, central heat, and ample closet and storage space. While the current ownership has diligently maintained the property, the current ownership has not been aggressive in increasing rents, with rents at the property easily ±46% below market. A new owner is presented with the opportunity to immediately increase rents to market with standard turnover expenses, or further increase rental income with complete unit renovations (examples detailed on page 8). 1831 Ramona Avenue is located in a premier part of South Pasadena, within close proximity to shops, eateries, and markets on Fremont Avenue and Fair Oaks Avenue, and just blocks from South Pasadena High School, South Pasadena Middle School, and Marengo Elementary School. South Pasadena’s School District is one of the most highly regarded school districts in the state, and in the top 2.2% of schools within the nation. 1831 Ramona Avenue is also in close proximity to South Pasadena Public Library, medical and financial institutions along Huntington Drive and Fair Oaks Avenue, and the Mission District, housing a plethora of cafes and restaurants. Adjacent to San Marino and Pasadena, the property is situated minutes from Huntington Hospital, California Institute of Technology, the Shops on Lake Avenue, Old Town Pasadena, Pasadena Community College, California State University of Los Angeles, and the 110 Freeway, offering ease of access to neighboring cities and entertainment destinations in the region. Given the property’s excellent real estate fundamentals, which include its superb, non-rent controlled location, large building envelope, excellent unit mix, and outstanding school district, 1831 Ramona Avenue is an unmatched investment for an investor seeking growth, stability, and a hedge against inflation. ASSET OVERVIEW 5 1831 RAMONA AVENUE | SOUTH PASADENA PROPERTY DESCRIPTION INVESTMENT HIGHLIGHTS COMMON AREA AMENITIES + Well Maintained, Neatly Landscaped + ± 11,117 SF R3 Lot SUPERB LOCATION CURRENT RENTS ±46% + Separately Metered for Gas and Electric Walking Distance to Shops on Fremont Ave & Fair UNDER MARKET Oaks Ave Area Not Subject to Rent Control
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