FOR SALE Premier Multifamily Property in Santa Monica Ocean View Living Most Desirable Residential Location in Santa Monica: Ocean Ave

FOR SALE Premier Multifamily Property in Santa Monica Ocean View Living Most Desirable Residential Location in Santa Monica: Ocean Ave. at San Vicente Blvd. Completely Rebuilt in 2017

Beach Club

Annenberg Community Beach House Pacific Coast Highway Palisades Beach Club Palisades Park

Ocean Ave.

San Vicente Blvd.

Georgina Ave.

Laurie Lustig-Bower | Executive Vice President Kamran Paydar | First Vice President Call to Schedule a Tour: Lic. 00979360 Lic. 01242590 (310) 550-2529 Tel. 310.550.2556 Tel. 310.550.2529 [email protected] [email protected] www.301oceanSM.com Click Here to View Two Property Videos Los Angeles International Airport High End Restaurants South View in Santa Monica Include: Marina Del Rey Blue Plate Oysterette Venice Beach BOA Steakhouse Silicon Beach Cassia Hotel Casa del Mar Chinois on Main FIG Le Méridien Delfina Forma Restaurant & Cheese Bar Viceroy Shutters on the Beach Hillstone Mélisse Wyndham Loews Santa Monica Pier Michael’s Rustic Canyon JW Marriott Santa Monica Le Merigot Fairmont Miramar SUGARFISH by sushi Nozawa The Huntley Tar & Roses Downtown Santa Monica The Lobster Wilshire Blvd. The Penthouse Oceana Water Grill 3rd St. Promenade Jonathan Beach Club

Montana Ave. Palisades Park Ocean Ave. Annenberg Community Beach House

4th St.

Georgina Ave.

Beach Club

San Vicente Blvd. Pacific Coast Highway

© 2021 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service 301marks OCEAN of CBRE, AVE., Inc. All SANTA other marks MONICA, displayed CA on 90402this document are the property of their respective owners, and the use of such logos does not imply any affiliation2. with or endorsement of CBRE. North View Malibu Getty Villa

Pacific Coast Highway

Pacific Palisades

Beach Club

Palisades Beach Club

Annenberg Community Beach House San Vicente Blvd.

Palisades Beach Georgina Ave. Ocean Ave.

Santa Monica Palisades Park

301 OCEAN AVE., SANTA MONICA, CA 90402 3. East View Century City Downtown Los Angeles

Bel Air West Los Angeles Beverly Hills

UCLA Westwood Brentwood

Santa Monica Montana Ave.

San Vicente Blvd.

Palisades Park

Georgina Ave.

Ocean Ave.

301 OCEAN AVE., SANTA MONICA, CA 90402 4. Georgina Ave.

San Vicente Ocean Ave. Blvd.

301 OCEAN AVE., SANTA MONICA, CA 90402 5. Executive Summary

301 OCEAN AVE., SANTA MONICA, CA 90402 6. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 7. 301 OCEAN AVE., SANTA MONICA, CA 90402 8. PACIFIC OCEAN

301 OCEAN AVE., SANTA MONICA, CA 90402 9. 301 Ocean Ave. Table of Contents

1. Executive Summary p.15

2. Property Overview p.18

3. Financial Analysis p.58

4. Area Overview p.64

Call to Schedule a Tour: (310) 550-2529 www.301oceanSM.com Laurie Lustig-Bower Executive Vice President Lic. 00979360 Tel.310.550.2556 [email protected] Kamran Paydar First Vice President Lic. 01242590 Tel.310.550.2529 [email protected] 10. 301 OCEAN AVE., SANTA MONICA, CA 90402 11. 301 OCEAN AVE., SANTA MONICA, CA 90402 12. 301 OCEAN AVE., SANTA MONICA, CA 90402 13. 301 OCEAN AVE., SANTA MONICA, CA 90402 14. Executive Summary Click Here to View Two Property Videos

Prime. SaMo. Life. A tranquil resort feel in a spectacular coastal setting

CBRE, Inc., as exclusive agent, is pleased to present a generational opportunity to acquire a premier, luxury 38- unit apartment building located in one of the most desirable communities in the United States, in the exclusive north of Montana Avenue neighborhood on famed Ocean Avenue in Santa Monica, California.

301 OCEAN AVE., SANTA MONICA, CA 90402 15. Executive Summary

301 Ocean Avenue is a Trophy Property Without Equal: Avg Avg → On the bluff at the northern end of Ocean Avenue Unit Type Units Rentable Outdoor SF SF → Tranquil resort feel in a spectacular coastal setting Studio 10 387 163 → All 1-bedroom and 2-bedroom units have spectacular ocean views

→ Spacious luxury units with seamless indoor/outdoor living 1BD / 1BA 8 916 375 → Rich array of common area amenities

→ Lush landscaping 1BD / 1.5BA 2 947 650 → Rental income upside potential

The Property was renovated in 2017, completely rebuilt inside and out. 2BD / 1BA 3 947 250 Floor plans include studio, 1-bedroom, 2-bedroom and 18 penthouse units with private rooftop terraces, of which 9 are 2-story townhouse units. 2BD / 1.5 BA 2 942 300 All 1-bedroom and 2-bedroom units have views overlooking Santa Monica Beach and Palisades Park. The Property easily accesses Santa Monica’s 2 BD / 2 BA 4 1,156 350 shopping, dining, entertainment and outdoor recreation venues. Local key 2 BD / 2BA employers, Silicon Beach companies, and West Los Angeles employers are Townhouse 9 1,269 600 in proximity to the Property. 2-story

301 Ocean Avenue is presented to the market unpriced. Total 38 891 371

Offers are due on Thursday, May 27, 2021 by 5:00 PM

301 OCEAN AVE., SANTA MONICA, CA 90402 16. Executive Summary Investment Highlights

→ Premier coastal “north of Montana” bluff location → All 1-bedroom and 2-bedroom units have spectacular ocean views → Fully renovated, beautifully maintained luxury building → Garden style low density living → Full rent collections with no deferrals or delinquencies → Best-in-class common area amenities → Close to Santa Monica dining, shopping, cultural and entertainment venues → Proximate to Silicon Beach and West LA employers → Upscale neighborhood with many home values at $5-$12 million Median Home Value Within ¼ mile is $1,909,483

301 OCEAN AVE., SANTA MONICA, CA 90402 17. 301 Ocean Ave.

301 OCEAN AVE., SANTA MONICA, CA 90402 Click Here to View 18.Two Property Overview Property Videos 301 OCEAN AVE., SANTA MONICA, CA 90402 19. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 20. Property Overview

Property Address: 301 Ocean Ave. Santa Monica, CA 90402

# of Units: 38

Year Built: 1952 (completely rebuilt in 2017)

Land Area: 43,721 SF

Total Building Area: 37,989 SF

Average Unit Size: 891 SF

Average Private Outdoor Size: 371 SF

Assessor Number: 4293-003-021

Parking: 50 Parking Spaces Building A 3 private garages 30 gated-access underground spaces Building B 17 private garages

Utilities: Tenants pay for Electrical. Landlord pays for Water (residential and fire), Trash/ Sewer, Electric for the house meter (common areas), Gas for the boilers and fire pit 21. 301 OCEAN AVE., SANTA MONICA, CA 90402 Property Overview

Avg Avg Unit Type Units Outdoor Rentable SF SF Studio 10 387 163

1BD / 1BA 8 916 375

1BD / 1.5BA 2 947 650

2BD / 1BA 3 947 250

2BD / 1.5 BA 2 942 300

2 BD / 2 BA 4 1,156 350 2 BD / 2BA 9 1,269 600 Townhouse 2-Story Total 38 891 371

301 OCEAN AVE., SANTA MONICA, CA 90402 22. Property Overview

UNIT DESCRIPTION SUMMARY

18 PENTHOUSES All have private ocean view rooftop garden terraces and semi private garages below.

Avg Avg # of Units Unit Type Rentable Outdoor Unit # SF SF 202, 203 6 1 BD / 1 BA PH 910 435 204, 206 207, 302 2 1 BD / 1.5 BA PH 930 650 301, 205 1 2 BD / 2 BA PH 1188 500 201 2 BD / 2 BA PH 9 2-story 1268 600 214 - 222 Townhouse 18

20 NON-PENTHOUSES

Avg Avg # of Units Unit Type Rentable Outdoor Unit # SF SF 108-111 Garden 9 383 155 114 Studio 208-211 Ocean View 1 489 250 105 Studio 2 1 BD / 1BA 935 200 106, 107 104, 113 3 2 BD / 1 BA 947 250 213 2 2 BD / 1.5 BA 942 300 102, 103 101, 112 3 2 BD / 2BA 1145 300 212 20

TOTAL 38 891 371 301 OCEAN AVE., SANTA MONICA, CA 90402 23. Property Overview Common Area Amenities Include

→ Controlled access, → Lush landscaping gated community → Zen rain fountain → 24-hour doorman/ security and concierge → Fire pit outdoor lounge services → BBQ grill station → Secured garage parking → Wi-Fi → Elegant garden courtyard with myriad → Bike racks lounge seating areas → Courtyard restroom → Yoga/personal trainer studio → Trash valet

→ State-of-the art → Dry cleaning valet Woodway treadmills service and Technogym equipment

→ Business center with video conferencing

301 OCEAN AVE., SANTA MONICA, CA 90402 24. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 25. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 26. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 27. Property Overview

Fitness Center with state-of-the art Woodway treadmills and Technogym equipment. 301 OCEAN AVE., SANTA MONICA, CA 90402 28. Property Overview Unit Features Include → Private rooftop decks with → Free-standing soaking tubs** Tucci umbrellas and Jscott → Glass enclosed walk-in * architectural planters rainfall showers → All 1-bedroom and → Central heating and 2-bedroom units have air conditioning (Nest spectacular ocean views thermostat in most units) → Units have oversized private → Designer lighting patios or balconies or roof top decks → Vented kitchen hood → Stainless steel balcony → Fiber optic high speed railings to maximize ocean wi-fi connection views → Dish satellite connection → Floor-to-ceiling accordion option bi-fold terrace glass doors → Custom California Closets → In-unit washer/dryer (unit specific) → Stainless steel appliances: → Bamboo flooring range, refrigerator, (unit specific) microwave, dishwasher → Custom cabinetry in kitchens and bathrooms

*Penthouse Units **Penthouses and Townhouse Units

301 OCEAN AVE., SANTA MONICA, CA 90402 29. San Vicente Blvd.

Ocean Ave.

301 OCEAN AVE., SANTA MONICA, CA 90402 30. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 31. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 32. Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 33. Property Overview Garden Studio A Unit A108-111 and A208-211

→ A108-111: 383 SF plus 150 Outdoor SF → A208-211: 383 SF plus 120 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 34. Property Overview

Garden Studio B Unit B114

→ 319 SF plus 300 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 35. Property Overview

Studio Unit A105

→ 489 SF plus 250 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 36. Property Overview

Ocean View 1 Bedroom 1 Bathroom Unit A106

→ 923 SF plus 150 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 37. Property Overview Ocean View Corner Penthouse, 1 Bedroom

1.5 Bathroom Unit B301

→ 868 SF plus 800 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 38.

Ocean View Corner Penthouse, 1 Bedroom 1.5 Bathroom Unit B301 Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 39. Property Overview

Ocean View Penthouse, 1 Bedroom 1 Bathroom Unit B302

→ 835 SF plus 500 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 40. Property Overview

Ocean View, 1 Bedroom 1 Bathroom Unit A107

→ 946 SF plus 250 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 41. Property Overview

Ocean View Penthouse, 1 Bed 1 Bathroom Unit A202-204

→ A202: 904 SF plus 400 Outdoor SF → A203: 909 SF plus 400 Outdoor SF → A204: 909 SF plus 500 Outdoor SF 301 OCEAN AVE., SANTA MONICA, CA 90402 42. Ocean View Penthouse, 1 Bed 1 Bathroom Unit A202-204 Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 43. Property Overview

Ocean View Corner Penthouse, 1 Bed 1.5 Bathroom Unit A205

→ 1,026 SF plus 500 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 44.44. Ocean View Corner Penthouse, 1 Bed 1.5 Bathroom Unit A205 Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 45. Property Overview

Ocean View Penthouse, 1 Bed 1 Bathroom Unit A207

→ 949 SF plus 400 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 46. Property Overview Ocean View 2 Bedroom 1.5 Bathroom Unit A102, A103

Ocean View 2 Bedroom 1 Bathroom Unit A104

→ A102: 935 SF plus 300 Outdoor SF → A103: 948 SF plus 300 Outdoor SF → A104: 948 SF plus 300 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 47. Property Overview

Ocean View 2 Bedroom 2 Bathroom Unit A101

→ 1,206 SF plus 300 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 48. Property Overview

Ocean View 2 Bedroom 2 Bathroom Unit B212

→ 1,153 SF plus 300 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 49. Property Overview

Ocean View 2 Bedroom 1 Bathroom Unit B113

→ 950 SF plus 200 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 50. Property Overview Ocean View Corner Penthouse, 2 Bedroom 2 Bathroom Unit A201

→ 1,188 SF plus 500 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 51. Ocean View Corner Penthouse, 2 Bedroom 2 Bathroom Unit A201 Property Overview

301 OCEAN AVE., SANTA MONICA, CA 90402 52. Property Overview

Ocean View 2 Bedroom 2 Bathroom Unit B112

→ 1,076 SF plus 300 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 53. Property Overview Ocean View Penthouse Townhouse, Unit B214-222

→ B214-221: 1,268 SF plus 600 Outdoor SF → B222: 1,274 SF plus 600 Outdoor SF

301 OCEAN AVE., SANTA MONICA, CA 90402 54. Ocean View Penthouse Townhouse, Unit B214-222

301 OCEAN AVE., SANTA MONICA, CA 90402 55. Ocean View Penthouse Townhouse, Unit B214-222

56. Ocean View Penthouse Townhouse, Unit B214-222

301 OCEAN AVE., SANTA MONICA, CA 90402 57. 301 Ocean Ave. Financial Analysis Financial Analysis

Existing Loan The Property is encumbered by a loan that must be assumed by Buyer.

Lender: Met Life

Loan amount: $28,000,000.00

$123,323.84 ($97,300.00 interest/ $23,937.70 Monthly payments: tax impound/$2,086.14 insurance impound)

Loan start date: 6/28/2018

End date (10 years): 7/1/2028

Lockout period (5 years): Ends 7/1/2023

4.17% Interest rate: (interest only for the first 5 years) Principal & Interest 7/1/2023 installment date:

Prepayment Fee: Shall be the greater of (A) (x) the present value of all remaining payments of principal and interest including the outstanding principal due on the Maturity Date, discounted at the rate which, when compounded monthly, is equivalent to the Treasury Rate compounded semi-annually less (y) the amount of the principal then outstanding, or (B) one percent (1%) of the amount of the Loan being prepaid.

You are solely responsible for independently verifying the information in this confidential memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK. 301 OCEAN AVE., SANTA MONICA, CA 90402 59. 301 OCEAN AVE Financial Analysis RENT ROLL AS OF APRIL 2021 Rent Roll, As of April 2021

Est. Rentable Est. Outdoor April 2021 Add'l Rent for Est. Unfurnished Type Move-In Lease End Views Notes Financial AnalysisSF SF Rent Furniture*** Market Rent

1,206 300 2 BD / 2 BA $10,136 $11,500 7/8/2017 1/7/2022 Ocean View Corner Unit, Private Street Entrance, Windows on Three Sides, Three Terraces

935 300 2 BD / 1.5 BA $8,000 $8,500 11/2/2020 11/1/2021 Ocean View

948 300 2 BD / 1.5 BA $8,132 $300 $8,500 6/15/2019 12/14/2020 Ocean View Furnished ***

948 300 2 BD / 1 BA $8,032 $8,500 9/7/2018 9/6/2021 Ocean View Ocean View Studio, Corner Unit, Ocean Views in Two Directions, Wrap 489 250 Studio $6,000 $6,000 2/28/2021 2/27/2022 Ocean View Around Terrace, Private Street Entrance Near Concierge Station 923 150 1 BD / 1 BA $7,000 $7,000 1/16/2020 7/15/2021 Ocean View

946 250 1 BD / 1 BA $7,500 $7,500 10/15/2020 10/14/2021 Ocean View

383 150 Studio $3,800 $500 $3,800 6/3/2021 6/2/2022

383 150 Studio $3,300 $3,500 1/2/2021 1/1/2022

383 150 Studio $3,376 $3,500 6/5/2018 6/4/2019 Month-to-Month ****

383 150 Studio $4,050 $500 $4,100 10/28/2020 10/27/2021 Furnished ***

1,188 500 2 BD / 2 BA PH* $12,532 $500 $13,000 7/22/2019 7/21/2021 Ocean View with Private Rooftop Garden Terrace Three Small Terraces Plus Rooftop Terrace, Furnished ***

904 400 1 BD / 1 BA PH* $8,500 $9,000 3/1/2021 2/28/2022 Ocean View with Private Rooftop Garden Terrace

909 400 1 BD / 1 BA PH* $8,576 $9,500 3/1/2018 2/28/2022 Ocean View with Private Rooftop Garden Terrace

909 500 1 BD / 1 BA PH* $9,500 $9,500 3/2/2020 3/1/2021 Ocean View with Private Rooftop Garden Terrace Month-to-Month ****

1,026 500 1 BD / 1.5 BA PH* $12,500 $1,000 $13,000 1/15/2020 1/14/2021 Ocean View with Private Rooftop Garden Terrace Corner Unit With Ocean Views in Two Directions, Furnished ***

955 400 1 BD / 1 BA PH* $9,176 $9,500 3/1/2018 2/28/2019 Ocean View with Private Rooftop Garden Terrace Month-to-Month ****

949 400 1 BD / 1 BA PH* $8,782 $9,500 7/1/2019 6/30/2021 Ocean View with Private Rooftop Garden Terrace

383 120 Studio $3,576 $3,800 7/6/2018 7/5/2020 Top Floor Unit, Month-to-Month ****

383 120 Studio $4,050 $4,100 4/1/2020 3/31/2021 Top Floor Unit, Month-to-Month ****

383 120 Studio $3,800 $3,800 9/16/2019 9/15/2021 Top Floor Unit

383 120 Studio $4,050 $4,100 7/1/2020 6/30/2021 Top Floor Unit Corner Unit, Windows on Three Sides, Wrap Around Terrace, Fireplace, 1,076 300 2 BD / 2 BA $8,500 $9,000 5/1/2020 4/30/2021 Ocean View Private Entrance, Extra Private 950 200 2 BD / 1 BA $6,500 $6,500 9/1/2020 8/31/2021 Ocean View Manager gets $3,500 Rent Credit (Net Pays $3,000)

319 300 Studio $2,976 $3,000 4/1/2018 3/31/2021

1,153 300 2 BD / 2 BA $9,576 $10,000 8/24/2018 3/31/2021 Ocean View Corner Unit, Windows on Three Sides, Two Terraces,10-Foot Ceilings

942 250 2 BD / 1 BA $6,500 $6,500 12/17/2020 12/16/2021 Ocean View 10-Foot Ceilings

1,268 600 2 BD / 2 BA PH TH** $11,500 $12,000 9/18/2020 9/17/2021 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor

1,268 600 2 BD / 2 BA PH TH** $9,576 $12,000 12/20/2017 12/19/2020 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor, Month-to-Month ****

1,268 600 2 BD / 2 BA PH TH** $9,576 $12,000 10/23/2017 10/31/2018 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor, Month-to-Month ****

1,268 600 2 BD / 2 BA PH TH** $9,500 $12,000 7/1/2020 6/30/2021 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor

1,268 600 2 BD / 2 BA PH TH** $9,500 $12,000 5/25/2020 11/24/2020 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor, Month-to-Month ****

1,268 600 2 BD / 2 BA PH TH** $9,576 $12,000 10/6/2017 10/31/2018 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor, Month-to-Month ****

1,268 600 2 BD / 2 BA PH TH** $10,532 $12,000 10/10/2018 10/9/2019 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor, Month-to-Month ****

1,268 600 2 BD / 2 BA PH TH** $9,500 $12,000 6/5/2020 1/4/2021 Ocean View with Private Rooftop Garden Terrace 10-Foot Ceilings on First Floor, Month-to-Month **** Corner Unit, Add'l Private Rear Entrance from Street, Extra Private, 10-Foot 1,274 600 2 BD / 2 BA PH TH** $11,500 $11,500 4/19/2021 4/18/2022 Ocean View with Private Rooftop Garden Terrace Ceilings on First Floor "Owner's Unit", Corner Unit, Windows on Two Sides, Retractable Awning 868 800 1 BD / 1.5 BA PH* $14,076 $14,000 5/1/2018 4/30/2022 Ocean View with Private Rooftop Garden Terrace Over Main Floor Outdoor Terrace, Extra Large Rooftop Terrace, Extra Private 835 500 1 BD / 1 BA PH* $7,850 $8,000 7/10/2020 7/9/2021 Ocean View with Private Rooftop Garden Terrace

Total $301,106 $2,800 $325,700

Average $7,924 $560 $8,571

* Penthouse Top Floor Units Notes ** Penthouse Two-Story Townhouse Units 1. Unit numbers are not disclosed for privacy. *** Furniture rental not included in unit rents. 2. All Penthouses have ocean views with private rooftop garden terrace 3. All One Bedroom and Two Bedroom units have ocean views. **** After lease expires, tenant can remain on month-to-month under SM Rent Control--landlord cannot terminate. 301 OCEAN AVE., SANTA MONICA, CA 90402 60. You are solely responsible for independently verifying the information in this confidential memorandum. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK. Financial Analysis 301 OCEAN AVE 301 Ocean Ave. Current OperationsCURRENT OPERATIONS

ESTIMATED INCOME Annual % of EGI Per Unit Rent Income $301,106 per mon. $3,613,272 103.0% $95,086 Total Scheduled Gross Income $3,613,272 103.0% $95,086 Vacancy 5.0% of SGI ($180,664) -5.2% ($4,754) Total Net Rental Income $3,432,608 97.9% $90,332 Total Pet Rents $1,100 per mon. $13,200 0.4% $347 Total Ptax surcharge $140 per mon. $1,680 0.0% $44 Total Recoveries $100 per mon. $1,200 0.0% $32 Total Parking Fees $1,500 per mon. $18,000 0.5% $474 Total SMRC fees $132 per mon. $1,584 0.0% $42 Application fees $120 per mon. $1,440 0.0% $38 Misc Income $297 per mon. $3,560 0.1% $94 Furniture Rental $2,800 per mon. $33,600 1.0% $884 TOTAL ESTIMATED INCOME $3,506,872 100.0% $92,286

ESTIMATED EXPENSES Annual % of Exp. % of EGI Per Unit Property Taxes [1] 1.166555% of est. price Ad Valorem - - - Direct Assessments $6,200 per year $6,200 0.9% 0.2% $163 Business Taxes $4,384 per year $4,384 0.7% 0.1% $115 Insurance $0.57 per GSF $21,600 3.3% 0.6% $568 Management Fee 3.0% EGI $105,206 15.8% 3.0% $2,769 Property Manager $4,600 per mon. $55,200 8.3% 1.6% $1,453 Maintenance Crew $1,350 per mon. $16,200 2.4% 0.5% $426 On-Site Maintenance Employee Rent Credit $3,500 per mon. $42,000 6.3% 1.2% $1,105 24 Hour Concierge $16,750 per mon. $201,000 30.3% 5.7% $5,289 Broker Leasing Commissions $833 per mon. $10,000 1.5% 0.3% $263 Electricity $1,058 per mon. $12,700 1.9% 0.4% $334 Water & Sewer $1,142 per mon. $13,700 2.1% 0.4% $361 Gas $365 per mon. $4,380 0.7% 0.1% $115 Telephone/Cable/Internet $900 per mon. $10,800 1.6% 0.3% $284 Cleaning $5,193 per mon. $62,316 9.4% 1.8% $1,640 Repairs and Maintenance $730 per unit $27,740 4.2% 0.8% $730 Fire Alarm $136 per mon. $1,630 0.2% 0.0% $43 Extermination $117 per mon. $1,404 0.2% 0.0% $37 Landscaping $1,800 per mon. $21,600 3.3% 0.6% $568 Trash Removal $699 per mon. $8,388 1.3% 0.2% $221 SMRC Fee (Incl. Business License Fee) $986 per mon. $11,830 1.8% 0.3% $311 Credit Check Fees $76 per mon. $912 0.1% 0.0% $24 Advertising $1,300 per mon. $15,600 2.3% 0.4% $411 Gym Maintenance $150 per mon. $1,800 0.3% 0.1% $47 Reserves $200 per unit $7,600 1.1% 0.2% $200 TOTAL EST. EXPENSES WITHOUT R.E. TAXES $664,189 100.0% 18.9% $17,479

EST. NOI WITHOUT R.E. TAXES $2,842,683 81.1% $74,807

[1] Property taxes will be reassessed based upon the Purchase Price.

You301 are OCEAN solely responsible AVE., for independentlySANTA MONICA, verifying the information CA 90402 in this confidential memorandum. 61. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK. Financial Analysis 301 OCEAN AVE 301 Ocean Ave. Forecasted OperationsFORECASTE –D MarketOPERATIO RentNS - MARKET RENT

ESTIMATED INCOME Annual % of EGI Per Unit Rent Income $325,700 per mon. $3,908,400 103.2% $102,853 Total Scheduled Gross Income $3,908,400 103.2% $102,853 Vacancy 5.0% of SGI ($195,420) -5.2% ($5,143) Total Net Rental Income $3,712,980 98.0% $97,710 Total Pet Rents $1,133 per mon. $13,600 0.4% $358 Total Ptax surcharge $140 per mon. $1,680 0.0% $44 Total Recoveries $103 per mon. $1,240 0.0% $33 Total Parking Fees $1,500 per mon. $18,000 0.5% $474 Total SMRC fees $157 per mon. $1,881 0.0% $50 Application fees $120 per mon. $1,440 0.0% $38 Misc Income $297 per mon. $3,560 0.1% $94 Furniture Rental $2,800 per mon. $33,600 0.9% $884 TOTAL ESTIMATED INCOME $3,787,981 100.0% $99,684

ESTIMATED EXPENSES Annual % of Exp. % of EGI Per Unit Property Taxes [1] 1.166555% of est. price Ad Valorem - - - Direct Assessments $6,200 per year $6,200 0.9% 0.2% $163 Business Taxes $4,735 per year $4,735 0.7% 0.1% $125 Insurance $0.57 per GSF $21,600 3.2% 0.6% $568 Management Fee 3.0% EGI $113,639 16.9% 3.0% $2,991 Property Manager $4,600 per mon. $55,200 8.2% 1.5% $1,453 Maintenance Crew $1,350 per mon. $16,200 2.4% 0.4% $426 On-Site Maintenance Employee Rent Credit $3,500 per mon. $42,000 6.2% 1.1% $1,105 24 Hour Concierge $16,750 per mon. $201,000 29.9% 5.3% $5,289 Broker Leasing Commissions $833 per mon. $10,000 1.5% 0.3% $263 Electricity $1,058 per mon. $12,700 1.9% 0.3% $334 Water & Sewer $1,142 per mon. $13,700 2.0% 0.4% $361 Gas $365 per mon. $4,380 0.7% 0.1% $115 Telephone/Cable/Internet $900 per mon. $10,800 1.6% 0.3% $284 Cleaning $5,193 per mon. $62,316 9.3% 1.6% $1,640 Repairs and Maintenance $730 per unit $27,740 4.1% 0.7% $730 Fire Alarm $136 per mon. $1,630 0.2% 0.0% $43 Extermination $117 per mon. $1,404 0.2% 0.0% $37 Landscaping $1,800 per mon. $21,600 3.2% 0.6% $568 Trash Removal $699 per mon. $8,388 1.2% 0.2% $221 SMRC Fee (Incl. Business License Fee) $986 per mon. $11,830 1.8% 0.3% $311 Credit Check Fees $76 per mon. $912 0.1% 0.0% $24 Advertising $1,300 per mon. $15,600 2.3% 0.4% $411 Gym Maintenance $150 per mon. $1,800 0.3% 0.0% $47 Reserves $200 per unit $7,600 1.1% 0.2% $200 TOTAL EST. EXPENSES WITHOUT R.E. TAXES $672,974 100.0% 17.8% $17,710

EST. NOI WITHOUT R.E. TAXES $3,115,007 82.2% $81,974

[1] Property taxes will be reassessed based upon the Purchase Price.

301You are OCEAN solely responsible AVE., for independentlySANTA MONICA, verifying the information CA 90402 in this confidential memorandum. 62. ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK. Financial Analysis 301 OCEAN AVE 301 Ocean Ave. Condo Units Active/Leased CONDO UNITS ACTIVE/LEASED Criteria: Santa Monica Lease Comps located within 1 mile from 301 Ocean Ave,

Property Address City Bed Bath Lease Rent $/SF SF Built Furnished? Status Lease Date 1221 Ocean Ave #1606 Santa Monica 2 2 $15,065 $10.18 1,480 1971 Unfurnished Available - 1221 Ocean Ave #1405 Santa Monica 1 1 $10,035 $9.27 1,082 1971 Unfurnished Available - 1025 Ocean Ave #102 Santa Monica 2 2 $9,500 $7.92 1,200 1961 Unfurnished Leased 7/14/2020 201 Ocean Ave #606P Santa Monica 2 2 $9,000 $7.32 1,229 1971 Unfurnished Leased 7/6/2020 201 Ocean Ave #1208B Santa Monica 2 2 $8,200 $6.68 1,228 1971 Unfurnished Available - 201 Ocean Ave #806P Santa Monica 2 2 $8,100 $6.59 1,229 1971 Unfurnished Available - 201 Ocean Ave #1206B Santa Monica 2 2 $8,000 $6.51 1,229 1971 Unfurnished Leased 9/17/2020 201 Ocean Ave #601P Santa Monica 2 2 $8,000 $6.48 1,235 1971 Furnished Leased 6/5/2020 101 Ocean Ave #E701 Santa Monica 2 2 $9,000 $6.45 1,396 1963 Unfurnished Leased 9/22/2020 515 Ocean Ave #504S Santa Monica 2 2 $9,500 $6.38 1,490 1976 Unfurnished Available - 535 Ocean Ave #1A Santa Monica 2 2 $8,500 $6.10 1,393 1963 Unfurnished Leased 11/24/2020 701 Ocean Ave #Phd Santa Monica 2 3 $8,000 $5.76 1,389 1993 Unfurnished Leased 1/26/2021 515 Ocean Ave #405S Santa Monica 2 2 $8,250 $5.54 1,490 1976 Unfurnished Available - 515 Ocean Ave #303N Santa Monica 2 2 $8,000 $5.37 1,490 1976 Unfurnished Leased 10/19/2020

© 2021 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do 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.

301 OCEAN AVE., SANTA MONICA, CA 90402 63. 301 Ocean Ave. Area Overview Area Overview

PACIFIC OCEAN

301 OCEAN AVE., SANTA MONICA, CA 90402 65. Area Overview

Santa Monica

Santa Monica is the perfect beach town with a plethora of attractions. With its excellent economic and demographic fundamentals, Santa Monica is one of the nation’s most desirable locations for residents, companies, and retailers. The area’s warm climate, scenic ocean border, and ease of access to the rest of Los Angeles, attracts premier amenities such as fine dining and high-end retail, making it a top destination for tourists and Angelenos.

301 OCEAN AVE., SANTA MONICA, CA 90402 66. Area Overview

Attracting over 8,000,000 visitors annually, the City of Santa Monica averages more than 280 days of sunshine a year and offers some of the best sunsets on the West Coast along its 3.5 mile stretch of coastline. Known as a walkable and bike-friendly town, Santa Monica is densely packed with a variety of retail shops, restaurants, as well as other attractions like the Santa Monica Pier, Third Street Promenade, Montana Avenue and more. Santa Monica attracts a daytime workforce of over 290,000 people due to a large concentration of media and entertainment companies, inhabiting more than five million square feet of Class A and creative office space. Its 8.3 square miles is composed of a diverse mix of lively neighborhoods, many of which are designated “Business Improvement Districts” (BID). In a cooperative effort between The City of Santa Monica and several private organizations, great care has been taken to ensure that the City is an exceptional place to live, work, and play.

301 OCEAN AVE., SANTA MONICA, CA 90402 67. Area Overview

Demographics*

Population 2020 Population: 123,690 2025 Projected Population - 126,130

Household Income 2020 Average Household Income: $162,440 2025 Projected Average Household Income: $180,765

Education Bachelor’s, Graduate or Professional Degree: 71.4%

Place of Work 2020 Employees: 97,814 2020 Businesses: 12,594

Household Income $200,000+ Household Income: 25.1%

Housing Value $1,000,000+: 81.5%

*Within 3-mile radius

301 OCEAN AVE., SANTA MONICA, CA 90402 68. Area Overview

Third Street Promenade

About one mile from 301 Ocean Avenue, Third Street Promenade is a pedestrianized, upscale shopping, dining and entertainment establishment two blocks from the ocean bluffs in Downtown Santa Monica. The Third Street Promenade begins at the Santa Monica Place shopping center spanning three blocks north towards Wilshire Blvd. It is considered a premier shopping and dining district on the Westside and draws crowds from all over the Greater Los Angeles Area. Due to its proximity to the Pacific Ocean coupled with Los Angeles’s mild climate, it is also a popular tourist destination.

The Third Street Promenade includes brand name chain stores such as Anthropologie, J. Crew, Zara, H&M, Urban Outfitters, Abercrombie and Fitch, The Dr. Martens, Sephora, Max Studio, Lululemon, Adidas and Apple. Dining options include Barney’s Beanery, Johnny Rockets, Cafe Demitasse, Silverlake Ramen, Bruxie, Gyu-Kaku Japanese BBQ and The Gallery. Offering Promenade’s only elevated dining deck, The Gallery is a two-story food hall featuring choices such as Sloan’s ice cream and Top Chef Voltaggio Brothers’ STRFSH. In 2019, Social Eats, a food hall within The Gallery food hall, was added featuring Supertoro’s custom bento boxes, Master Chef Graham Elliot’s Petit Harvest, and David Chang’s Fuku by Momofuku among other options. It boasts two AMC Theatres and hosts the largest and oldest certified organic farmers’ market each Wednesday and Saturday on Arizona Avenue between 2nd and 4th Streets. Street performers and entertainers are a frequent sight on the street. On a typical Saturday night in the summer, singer-songwriters, classical guitar players, magicians, clowns, hip-hop dancers, lounge singers, session drummers, and other artists line up approximately 40 feet (12m) to 50 feet (15 m) apart from each other all along Third Street.

301 OCEAN AVE., SANTA MONICA, CA 90402 69. Area Overview

Third Street Promenade Amenities

Retail PacSun Restaurants/ The Gallery Puzzle Zoo Azulé Taqueria Abercrombie & Fitch Cafes RH BABY & CHILD Paperboy Pizza Adidas 1212 Santa Monica RH TEEN STRFSH Aldo Barney’s Beanery Rip Curl Sloan’s Ice Cream Anthropologie BIBIBOP Sephora SOCIAL EATS Apple BurgerIM Sketchers Adelaide Coffeebar Athleta Bruxie Sunglass Hut Fuku Brandy Melville Cabo Cantina Sunsations Sunglass Petit Harvest Champs Sports Cafe Demitasse & Optical Pop’s Burger & Cool Kicks Carlo’s Bake Shop Superdry Shakes Cotton On Carsten-Pieter T-Mobile Supertoro Crocs Zimmermann point Tilly’s Street Noods Dr. Martens Casa Martin Urban Outfitters Flight 23 at Chipotle Victoria’s Secret & Entertainment Footaction Gyu-Kaku PINK H&M IT’SUGAR AMC Broadway 4 Zara Hollister Co. Johnny Rockets AMC Santa Monica 7 J. Crew Promenade Health Silverlake Ramen Levi’s Store SOMISOMI Playhouse Lids Burn Fitness Starbucks Westside Comedy Lululemon Cha Spa Steak ‘n Shake Theater MAC Dogtown Fitness Stefano’s Pizzerias Madewell Trimana Max Studio The Coffee Bean & Oakley Tea Leaf Old Navy Wetzel’s Pretzels

301 OCEAN AVE., SANTA MONICA, CA 90402 70. Area Overview

Santa Monica Place

Located at the south end of the Promenade diagonally across from the Downtown Santa Monica Expo Metro Station, Santa Monica Place is a 524,000 SF, open-air shopping center featuring upscale shopping and dining. Anchored by Bloomingdales and Nordstrom, Santa Monica Place includes among its tenants Louis Vuitton, Tory Burch, Tesla, Geary’s Rolex Boutique, Hugo Boss, Michael Kors and Tiffany & Co. The mall also features an ArcLight Cinema and a rooftop dining deck.

301 OCEAN AVE., SANTA MONICA, CA 90402 71. Area Overview

Montana Avenue

Located east of the property half mile north of Downtown Santa Monica, Montana Avenue is a 10-block, open-air retail destination just off of Santa Monica’s picturesque coastline. Home to more than 150 high-end boutiques, restaurants, service establishments and the historic Aero Theatre, Montana Avenue is Santa Monica’s premier shopping neighborhood. Visitors can enjoy shopping at Benefit, Chico’s, Jill Roberts, J.Jill, Williams Sonoma among several other shops or dine at popular spots such as R & D Kitchen, The Courtyard Kitchen, Forma Restaurant & Cheese Bar, Kye’s, Art’s Table, Kreation and Father’s Office.

301 OCEAN AVE., SANTA MONICA, CA 90402 72. Area Overview

Montana Avenue Amenities

Retail J. Jill Savannah Esquire Barber Shop Care Center Prima Cocina J.McLaughlin Seasons European Wax Center YogaHop Primo Passo Coffee Co Balloon Celebrations Jane Sofa U Love ISpa Lane Day Spa Zaine Colour Salon R+D Kitchen Bluemercury Jigsaw London Splendid Kiehl’s Rori’s Artisanal Brenda Himmel Jill Roberts Sprout San Francisco Larissa Love Creamery Stationery Restaurants/ John Kelly Chocolates Square One Refills Luxelab Salon Rosti Tuscan Kitchen Brentwood General Cafes Kitchens On Montana Texture Massage Envy Spumoni Store Andrew’s Cheese Shop L’Oliphant Designer The Duck Blind Master Lash by Charity Starbucks Burro Art’s Table Jewelry The Quilted Monkey Mighty Pilates Subway Cabachon Fine Jewelry Bardonna La Vitrine by Musti The Shade Store Montana Nails Sushi Sho California Closets Breadblok Lady Dandelion Williams-Sonoma Number One Beauty Sweet Lady Jane CAMI AND JAX Caffe Luxxe LUXYGEM Ouidad Salon The Courtyard Kitchen Charleston Shoe Co. Erin McKenna’s Malin + Goetz R&R Chico’s Beauty/Health Bakery Montana Eyes Revolution Fitness Citron Alchemy 43 Father’s Office Arts & Montana Optometry Center Clare V. American Beauty Hair Forma Entertainment Moondance Jewelry Sechoir Hair Studio Claude Fine Jewelry Antoine Pierre Frozen Fruit Co Aero Theatre Gallery Self Care LA Cotélac Artistic Nails Greens up! Ten Women Gallery Morgan Le Fay Sepi Spa Curated Los Angeles Auburn Salon Horchata The Music Castle Nest Bedding Shin Hair Ele Keats Jewelry Balance Day Spa Kreation Kafe Only Hearts Skin Laundry Estell Beauty Park Medical Kye’s Paper Source Stretch Lab Femelle Spa Le Macaron Pink Chicken SugaringLA Field Guide Bellacures Locanda Portofino Rachel Ashwell Shabby Tabb & Sparks Salon Fireside Cellars Benefit Cosmetics Margo’s Chic Couture The Detox Market Flannel Britebar Marmalade Cafe Rangoni Firenze Shoes The Hydration Room Footsie Cha Spa Menchies Rita’s Rags The Massage Place Frankie’s on the Park Combined Panda Express Roller Rabbit Tracy’s Nails Hästens Dermalogica Peet’s Coffee & Tea Ruti Veronica Skin & Body Heist Jewelry Drybar Pinkberry

301 OCEAN AVE., SANTA MONICA, CA 90402 73. Area Overview

Santa Monica Pier Area

Two miles from 301 Ocean Avenue, the 111-year old Santa Monica Pier is the official western terminus of Route 66. It features the world’s only solar-powered ferris wheel lifting riders 130 feet above the Pacific Ocean at Pacific Park, West Coast’s only amusement park located on a pier. Vendors on the Pier include The Albright, Seaside On The Pier, Mariasol Cocina Mexicana and Pier Burger as well as various food and shopping carts. Within the Looff Hippodrome carousel building, a National Historic Landmark, is the Santa Monica Pier Carousel and Soda Jerks. Below the carousel building at beach-level, see over 100 local marine and wildlife species in action at Heal the Bay aquarium, Heal the Bay’s marine education facility. Nearly 100,000 visit per year and in-house education programs have reached close to 200,000 students. Attracting 55,000 fans during the summer, the pier hosts Twilight on the Pier, a free weekly outdoor music festival of established or emerging artists and sounds complete with food, a beer and spirits garden, games, a comedy stage, interactive activations and immersive art all along the Pier promenade.

301 OCEAN AVE., SANTA MONICA, CA 90402 74. Area Overview

Ocean Avenue

Ocean Avenue is lined with pastel-hued hotels, alfresco dining, and miles of recreational paths. Local dining options include 41 Ocean Club, Blue Plate Oysterette, Del Frisco’s Grille, 1 Pico Restaurant at Shutters on the Beach hotel and Cameo Bar at the Viceroy. Recreational locations include the 6-acre Tongva Park and 26.4-acre Palisades Park, a City of Santa Monica landmark, and Santa Monica’s boardwalk known as the Ocean Front Walk, home of the historic Original Muscle Beach. One can exercise with cosmopolitan beach vibe view to the east and Pacific Ocean view to the west. Just steps from The Pier and Ocean Avenue, Santa Monica’s soft, sandy beaches attract millions of visitors each year.

301 OCEAN AVE., SANTA MONICA, CA 90402 75. Area Overview

Silicon Beach

Starting in Santa Monica spanning through Venice, Marina del Rey and Playa Vista towards the South Bay, residents enjoy convenient access to employers in Silicon Beach (named after its proximity to the Pacific Ocean). It is home to ±86% of all tech companies in Los Angeles such as established giants Google and Apple. Other Notable companies in Silicon Beach include Facebook, Microsoft, YouTube, Electronic Arts, Sony PlayStation, Fox Sports, Postmates, Belkin, TBWA\Chiat\Day, Riot Games, The Rubicon Project and Deutsch. Additionally, there are numerous prominent tech, brand & media companies who are shopping for large amounts of office space in Silicon Beach. Santa Monica itself is the headquarters for Snap, Hulu, Activision “ Blizzard, Edmunds, Universal Music, Red Bull, RPA and Lionsgate The relocation of tech companies to Entertainment and another office location for Oracle, HBO and southern California is part of a growing Starz. Healthcare employers Kite Pharma and GoodRx are also movement of U.S. Cities seeking to based in Santa Monica. duplicate the formula that turned As a magnet for entrepreneurs and a flourishing breeding ground northern California’s silicon valley into for technology, gaming and media innovation, 5,000 startup ven- a mecca of society shifting innovation tures have taken root along with accelerators. Greater Los Angeles and immense wealth. accelerators include Startup UCLA, Amplify, and Disney Accelera- tor, in addition to incubators, tech studios and hacker spaces. ” THE MERCURY NEWS

301 OCEAN AVE., SANTA MONICA, CA 90402 76. Area Overview

Santa Monica Farmers Market

The weekly Santa Monica Farmers Market features fresh and colorful produce from all over California’s rich agricultural land. It is held at three vibrant locations, Virginia Avenue (Saturdays), Main Street (Sundays) and Downtown Santa Monica (Wednesday and Saturdays) located on Arizona Avenue between Second and Fourth Streets. This downtown location features 75 farmers over four blocks. It offers the largest percentage of certified-organic growers that chefs from all over Los Angeles County convene to get their fresh produce attracting close to a million shoppers a year. It is about a five-minute drive and seven-minute bike ride from the 301 Ocean Avenue property.

301 OCEAN AVE., SANTA MONICA, CA 90402 77. Metro Rail & Busway metro.net Projects Under Construction

Chatsworth Amtrak & Metrolink

Nordhoff SAN FERNANDO VALLEY Lake Allen Sierra MadreArcadia VillaMonroviaDuarte/CityIrwindale of HopeAzusa DowntownAPU/CitrusGlendora CollegeSan DimasLa VernePomona Claremont

Roscoe GOLD LINE FOOTHILL EXTENSION Memorial Park Area Overview Sherman Way SAN GABRIEL VALLEY Del Mar Canoga De Soto Pierce CollegeTampa Reseda Balboa Woodley SepulvedaVan NuysWoodmanValley CollegeLaurel Canyon North Hollywood Fillmore Universal City/Studio City

Hollywood/Highland South Pasadena

Hollywood/VineLAX FlyAway Highland Park

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

Vermont/Santa Monica Lincoln/Cypress

Chinatown Transportation Vermont/Beverly Westwood/VAWestwood/UCLA Hospital Century City/ConstellationWilshire/RodeoWilshire/La CienegaWilshire/FairfaxWilshire/La BreaWilshire/WesternWilshire/Normandie Union Station Wilshire/Vermont Amtrak & Metrolink Grand Av Arts/CivicGrandGrandGrandGrand Ctr/Civic Ctr/ParkParkParkPark Metrolink LAX FlyAway PURPLE LINE EXTENSION Bunker Hill LAC+USC MedicalCal State Ctr LA El Monte Westlake/MacArthur Park REGIONAL CONNECTOR WESTSIDE TRANSIT PROJECT Historic 7th St/Metro Ctr Broadway Little Tokyo/Arts Dist Pico Pershing Square LATTC/Ortho Soto Institute Indiana Atlantic DOWNTOWN Pico/Aliso Maravilla Little Tokyo/ LA Arts District Mariachi Plaza Grand/LATTC East LA Civic Ctr Metro Downtown17th Santa St/SMC Monica26th St/BergamotExpo/BundyExpo/SepulvedaWestwood/RanchoPalms Culver Park CityLa Cienega/JeffersonExpo/La BreaFarmdaleExpo/CrenshawExpo/WesternExpo/VermontExpoPark/USC EASTSIDE 37th St/ San Pedro St SANTA USC Martin Luther King Jr MONICA Jefferson/USC Washington Leimert Park CRENSHAW/LAX TRANSIT PROJECT Slauson Vernon Rail Station Metro Rail is the rapid transit rail system consisting Transfer Hyde Park SOUTH LA Slauson Station BuswayStation

Fairview Heights Manchester Florence Busway Street PACIFIC OCEAN Service of six separate lines (the Blue, Red, Purple, Green, UNDER Downtown Inglewood CONSTRUCTION Firestone

Westchester/Veterans 103rd St/ Gold and Expo Lines) which cumulatively serves Watts Towers Aviation/Century Willowbrook/ Metro Rail LAX Shuttle G Rosa Parks Aviation/LAXHawthorne/LennoxCrenshawVermont/Athens Harbor FwyAvalon Long Beach LakewoodBl NorwalkBl LAX A Line (Blue) 93 stations over 98 miles throughout Los Angeles Downtown LA to Long Beach Mariposa Rosecrans Compton B Line (Red) North Hollywood to Union Station Harbor Artesia El Segundo Gateway C Line (Green) Redondo Beach to Norwalk County. The Expo Line, which was completed in Transit Ctr GATEWAY CITIES Douglas Del Amo D Line (Purple) Wilshire/Western to Union Station Redondo Beach Carson Wardlow E Line (Expo) 2016, extends the Metro Rail system west to the Downtown LA to Santa Monica Willow St SOUTH BAY L Line (Gold) East Los Angeles to Azusa Pacific Pacific Coast Hwy Coast Pacific Ocean allowing passengers the ability to Hwy Metro Busway Anaheim St G Line (Orange) Pacific 5th St Chatsworth to North Hollywood Av travel between the Pacific Ocean and Downtown Los J Line (Silver) San Pedro Downtown 1st St San Pedro to El Monte Long LAX FlyAway Street Service in Downtown LA Angeles in less than 40 minutes. It connects Santa Beach and San Pedro Regional Rail

Amtrak Monica to Downtown Los Angeles, Hollywood, amtrak.com Metrolink metrolinktrains.com the South Bay, Long Beach, Pasadena and the San Airport Shuttle LAX FlyAway lawa.org/flyaway Fernando Valley offering a dependable alternative LAX Shuttle (free) lawa.org

APR 2020 Subject to Change for commuters. In 2019, the average weekday 20-2634MM ©2020 LACMTA ridership for the Expo Line was 58,002. Nine stations serve Santa Monica and Culver City starting at the Downtown Santa Monica Station which is across from Santa Monica Place and 1.9 miles from 301 Ocean Avenue.

301 OCEAN AVE., SANTA MONICA, CA 90402 78. Area Overview

Transportation Bus City of Santa Monica also operates The Big Blue Bus, 200 clean air vehicles, servicing the city of Santa Monica and the greater Westside region of Los Angeles County. It has more than 44,000 daily customers providing over 16 million rides each year. Bike Santa Monica is the only city in Southern California awarded the Gold-level Bicycle Friendly Community by the League of American Bicyclists in Fall 2020. The city has over 100 miles of bike paths including part of the 22-mile, paved Marvin Braude Bike Trail known as “The Strand” which follows the shore of Santa Monica Bay from Pacific Palisades’ Will Rogers Beach to the Torrance County Beach. Circuit Pedestrians can also hail a free ride on the Santa Monica Circuit, golf cart–style cabs, servicing the area between Montana Avenue and Marine Street, and from the ocean to Fifth Street.

301 OCEAN AVE., SANTA MONICA, CA 90402 79. Drive Times Area Overview 12 Minutes Venice

12 Minutes Malibu

14 Minutes Westwood/UCLA

14 Minutes Beverly Hills

16 Minutes Century City

18 Minutes Los Angeles International Airport

18 Minutes Downtown Los Angeles

22 Minutes Hollywood

Beverly Hills

Hollywood

Malibu Century City

Downtown Los Angeles Westwood/UCLA Venice Century City

Los Angeles International Airport 301 OCEAN AVE., SANTA MONICA, CA 90402 80.

© 2021 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:7996899 Executive Summary 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 described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement 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 acknowledgement 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 of the Property (“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.

301 OCEAN AVE., SANTA MONICA, CA 90402 81. FOR SALE Premier Multifamily Property in Santa Monica Ocean View Living Most Desirable Residential Location in Santa Monica: Ocean Ave. at San Vicente Blvd. Completely Rebuilt in 2017

Laurie Lustig-Bower Kamran Paydar Call to Schedule a Tour: Executive Vice President First Vice President (310) 550-2529 Lic. 00979360 Lic. 01242590 Tel.310.550.2556 Tel. 310.550.2529 www.301oceanSM.com [email protected] [email protected]