REAL

ESTATE HANFORD APARMTMENTS | 532 S. Coronado Street, , CA CA Angeles, Los Street, Coronado S. 532 | APARMTMENTS HANFORD The Offering ______3 Property Details ______4 Property and Financial Summary______5 Rent Roll & GRM______6 Milazo Inc. Comps______7 836 N. Sanborn Ave #100 Los Angeles, CA 90029 Highlights______9 213.739.8871 Office 702.630.4295 Cell Lobby Pictures______10 [email protected]

Floor Plans ______11 Viviana Manino | Broker Aerial Views ______15 License # 01185718 Neighborhood Characteristics ______16 Demographics ______17 Macarthur Park and Neighborhood___18 Koreatown “The Neighborhood”_____20 Downtown, Echo Park & Silverlake ___21

CONFIDENTIALITY DISCLAIMER 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. TABLE OF CONTENTS TABLE

2 Milazo Inc is pleased to offer for sale, Hanford Apartments, 532 S. Coronado Street Los Angeles, CA 90057, a 46 unit apartment community in the hippest neighborhood in America since 2012, according to LA Weekly. The property is located in an area that represents the best of LA where East meets West. Artists, Musicians, and Chefs have discovered this gem. Travel and Leisure magazine deemed this area to become the next Silverlake.

The property was built in 1924 and is a 4 story New York style walk up brick building. The building has 46 units with a mix of 45 studios with full kitchens and baths and a 1 bedroom, 1 bath unit. The building consist of 21,460 square feet on a 7500 square feet lot. There is an adjacent 9700 square feet lot currently used for 32 parking spaces and a community garden.

The remodeling, occurring over the last several years, combines the installation of modern conveniences while maintaining the original character of each apartment. This includes large original double hung wood windows, original refinished douglas fir hardwood floors in all apartments and original porcelain bathroom floors in most units. Exposed brick walls adorn the living areas of most apartments. A total of 44 units out of the 46 have been upgrades and are obtaining near market rents.

The building is secured with restricted access, surveillance system with 4 cameras, and remote-controlled parking lot. The exterior is inviting with world class landscaping and potted plants. The lobby is welcoming and provides tenants with comfort while retrieving mail. It has refinished original hardwood floor and through out all hallways. In the rear of the building is an organic community garden where tenants garden and grow fresh vegetables. The building has contract on site laundry for the tenants comfort with 4 washers and 4 dryers. The hot water is provide by a state of the art boiler system with 2 holding tanks and circulation pump for instant hot water in each apartment.

Since the building is near , it is only fitting to point out that the building appeared in an opening episode of the hit television show “Three Rivers” on CBS in 2009. Also, the building was once occupied by many aspiring actors and many of our current tenants are aspiring ACTORS, HOLLYWOOD WRITERS and MOVIE PRODUCERS. They have come to Los Angeles from all over the world to pursue their dream in film and television and call Hanford Apartments their LA home. THE OFFERING

3 Hanford Apartments 532 S. Coronado Street, Los Angeles, CA 90057

PROPERTY DETAILS UTILITIES Assessor’s Parcel Number 5155030026 Water LADWP Buildings One Sewer LADWP Year Built 1924 Electric Mastered Meter - Land Use Apartments LADWP Zoning LAR3 Gas Individual Metered - Stories 4 Southern Gas SITE DESCRIPTION Units 46 CONSTRUCTION Gross Square Footage 21,460 Framing Wood Frame Lot Size Square Footage 7,500 Exterior Brick Parking Lot Square Footage 9,700 Roof Flat-Rolled Topography Flat MECHANICAL HVAC Wall Heater (No A/C) Fire Protection Sprinklered/Smoke Detectors Water Heaters Central Broiler with a storage tank Plumbing Majority updated to copper Electrical Updated to breakers PROPERTY DETAILS

4 FINANCIAL INDICATORS

Price (Building Only) $10,495,000 Down $10,495,000 Current CAP 3.64 Current GRM 17.36 Cost Per Unit $228,152 Expenses Per Unit $4,311 Expenses Per SF 9.24

ESTIMATED ANNUALIZED BUILDING DATA EXPENSES No. of Units 46 New Property Taxes $125,880 Year Built 1924 Gas Utilities $5,385 Lot Size SF 17,200 Water & Power Utilities $35,677 Gross SF 21,460 Waste Removal $4,403 Parking Spaces 32 Property Insurance $10,074 Registration Fees $3,588

SOURCE OF INCOME Landscaping $1,290 Repairs & Maintenance $11,500 # of Units Unit Type CURRENT MARKET Total Pest Control $540 Gross Rent Avg. Rent Income Total Estimated Expenses $198,337 45 Single $584,988 $838,080 Repairs and Maintenance is calculated at 250 per unit offsite. All other 1 1 br / 1 ba $17,106 $22,632 operating expenses are based on actual 2016 amounts. Property taxes are calculated on list price of $10,495,000. Total Rental $602,094 $860,712 Laundry Income $2,472 $2,472 ESTIMATED ANNUALIZED Total Monthly Income $50,381 $71,932 OPERATING DATA Total Annual Income $604,561 $863,184 CURRENT MARKET Scheduled Gross Income $604,562 $863,184 income as of july 2018 Gross Operating Income $580,380 $828,657 Less Expenses $198,337 $198,337 Total Rental Income $602,094

Laundry Income $2,472.00 Net Operating Income $382,043 $630,320

Total Monthly Income $51,153.90 Financial data is calculated on the sale price of the building only and does not include the PROPERTY AND FINANCIAL SUMMARY Total Annual Income $607,033.51 price of $995,000 for the parking lot.

GRM 16.83 5 Annual RENT Projected PROJECTED Type Rent Rents INCREASEs 7/2018 Rents AnnuaL

Coronado 101 1 Bedroom $1,425.47 $1,482.49 $1,886.00 102 Studio $1180.00 $1,180.00 $1,552.00 103 Studio $1,160.00 $1,206.40 $1,552.00 104 Studio $1,180.00 $1,227.20 $1,552.00 105 Studio $1,194.41 $1,242.19 $1,552.00 106 Studio $986.41 $1,025.87 $1,552.00 107 Studio $1,180.00 $1,180.00 $1,552.00 108 Studio $1,145.00 $1,190.80 $1,552.00 109 Studio $1,180.00 $1,227.20 $1,552.00 110 Studio $1,030.00 $1,081.50 $1,552.00 201 Studio $1,045.00 $1,086.80 $1,552.00 202 Studio $1,121.61 $1,166.47 $1,552.00 203 Studio $1,010.00 $1,050.40 $1,552.00 204 Studio $1,038.41 $1,079.95 $1,552.00 205 Studio $1,180.00 $1,227.20 $1,552.00 206 Studio $1,170.00 $1,216.80 $1,552.00 207 Studio $1,061.08 $1,103.53 $1,552.00 208 Studio $1,029.48 $1,070.66 $1,552.00 209 Studio $1,213.41 $1,261.95 $1,552.00 210 Studio $1,194.41 $1,242.19 $1,552.00 211 Studio $1,012.41 $1,052.91 $1,552.00 212 Studio $1,355.86 $1,423.65 $1,552.00 301 Studio $1,180.00 $1,227.20 $1,552.00 302 Studio $1,030.00 $1,030.00 $1,552.00 303 Studio $986.41 $1,025.87 $1,552.00 304 Studio $1,010.00 $1,050.40 $1,552.00 305 Studio $899.68 $935.67 $1,552.00 306 Studio $1,142.41 $1,188.11 $1,552.00 307 Studio $1,078.33 $1,121.46 $1,552.00 308 Studio $599.01 $622.97 $1,552.00 309 Studio $1,020.00 $1,060.80 $1,552.00 310 Studio $1,095.00 $1,095.00 $1,552.00 311 Studio $1,175.00 $1,233.75 $1,552.00 312 Studio $1,078.15 $1,121.27 $1,552.00 401 Studio $1,101.31 $1,145.36 $1,552.00 402 Studio $1,070.00 $1,112.80 $1,552.00 403 Studio $1,180.00 $1,227.20 $1,552.00 404 Studio $1,245.00 $1,245.00 $1,552.00 405 Studio $1,140.61 $1,186.23 $1,552.00 406 Studio $887.76 $923.27 $1,552.00 407 Studio $1,038.41 $1,079.95 $1,552.00 408 Studio $1,195.00 $1,242.80 $1,552.00 409 Studio $484.08 $503.45 $1,552.00 410 Studio $1,180.00 $1,227.20 $1,552.00 411 Studio $1,020.00 $1,071.00 $1,552.00

RENT ROLL AND GRM 412 Studio $1,245.00 $1,245.00 $1,552.00 Laundry Income $206.00 Annual Rents Annual Rents Annual Rents Monthly Income $50,3080.00 $604,561.00 $51,947.90 $623,374.80 $71,926.00 $860,712.00

GRM 17.36 16.83 12.19

BUILDING SALES $10,495,000

LAND SALES Parking Lot 32 Spaces $995,000 TOTAL SALES PRICE $11,490,000 GRM Based on building sales price 6 *Projected rents are based on information provided by Hanes Investment, Costar, Apartments.com and Craigslist. 7 SALES COMPS 3. 1580Yosemite Drive|LosAngeles, CA 2. 853SanbornAve |Los Angeles,CA90029 1. 2430OceanView Ave |LosAngeles,CA Price PerSF Year Built Price PerUnit Number ofUnits Sales Price Price PerSF Square Foot Year Built Price PerUnit Number ofUnits Sales Price Price PerSF Square Foot Year Built Price PerUnit Number ofUnits Sales Price 2 1 $301 1951 $267,567 37 $9,900,000 $599 16,100 1929 $311,290 31 $9,650,000 17,610 17,610 1929 $233,333 54 $12,600,00 3 8 RENT COMPS 412SLakeSt.,LosAngeles,CA90557 1. TheEleanorApartments 467S.BonnieBraeSt,LosAngeles,CA90057 2. Madisononthe5th 756SNormandieAve, Los Angeles,CA90005 3. TheBard Bedrooms Rent Range Number ofUnits Year Built Bedrooms Rent Range Number ofUnits Year Built Bedrooms Rent Range Studio $1,500 -$1,600 41 1927 2 Bedrooms $2,095 Studio $1,425 -$1,550 31 1925 3 1 2 9 HIGHLIGHTS Surrounded bydevelopment projects onWilshire Blvd. View ofHollywoodSignand Griffith Observatoryfrom roof and manyunits Quiet BuildingWithLowOccupancyAndNoOvercrowding 32 SpaceGatedParkingLotAdjacentTo Building Art BoilerSystem Solid BuildingInfrastructure WithUpgradedElectricalAndCopperPlumbing,StateOfThe Mid RangeRentals,NotLowIncomeOrLuxury Solid Verifiable EmploymentWith3TimeIncomeTo Rent Existing Tenant HasBeenWell Vetted, Over700FICOScores Allowable 4%rent increases eachyear 44 OutOf46UnitsObtainingNearMarketRates Upside PotentialForInvestorDesiringTo Capture UpscaleMarket Turn KeyAssetWithLittleOrNoNeedTo Remodel Limited BuyingOpportunitiesInKoreatown AndLosAngeles Ability To Acquire NewYork StyleBrickBuilding RARE OPPORTUNITY 10 BUILDING LOBBY 11 FLOOR plan 1 (3 units) $1,245.00 $1,071.00 $1,227.20 $503.45 $1,242.80 $1,079.95 $923.27 $1,186.23 $1,245.00 $1,227.20 $1,112.80 $1,145.36 $1,121.27 $1,233.75 $1,095.00 $1,060.80 $622.97 $1,121.46 $1,188.11 $935.67 $1,050.40 $1,025.87 $1,030.00 $1,227.20 $1,423.65 $1,052.91 $1,242.19 $1,261.95 $1,070.66 $1,103.53 $1,216.80 $1,227.20 $1,079.95 $1,050.40 $1,166.47 $1,086.80 $1,081.50 $1,227.20 $1,190.80 $1,180.00 $1,025.87 $1,242.19 $1,227.20 $1,206.40 $1,180.00 $1,482.49 $51,947.90 12 FLOOR plan 2 (3 units) 13 FLOOR plan 3 (31 units) 14 FLOOR plan 4 (8 units) Aerial viewS

1415 GRIFFITH HOLLYWOOD OBSERVATORY SIGN

WILSHIRE BLVD CORRIDOR

Wilshire Boulevard is one of the principal east-west arterial roads in Los Angeles, California, extending 15.83 miles from Ocean Avenue in the city of Santa Monica east to Grand Avenue in the Financial District of .

Wilshire Boulevard is densely developed throughout most of its span, connecting five of Los Angeles's major business districts to each other, as well as Beverly Hills. Many of the post-1956 skyscrapers in Los Angeles are located along Wilshire; for example, One Wilshire, built in 1966 at the junction of Wilshire and Grand, is said to be "...the main hub of the internet for the entire Pacific Rim" due to the large concentration of telecommunications companies renting space there. Aon Center, at one point Los Angeles' largest (and presently second-largest) tower, is at 707 Wilshire Boulevard in downtown Los Angeles.

One particularly famous stretch of the boulevard between Fairfax and Highland Avenues is known as the Miracle Mile. Many of Los Angeles' largest museums are located there. The area just to the east of that, between Highland Avenue and Wilton Place, is referred to as the "Park Mile". Between Westwood and Holmby Hills, several tall glitzy condominium buildings overlook this part of Wilshire, giving it the title of Millionaire's Mile. This section is also known as the Wilshire Corridor and Condo Canyon. Neighborhood characteristics The Wilshire Corridor, located next to Century City, is one of Los Angeles' busiest districts, and contains many high-rise residential towers. The Fox and MGM studios are located in a series of skyscrapers, along with many historic Los Angeles hotels. Wilshire Boulevard is also the principal street of Koreatown, the site of many of Los Angeles' oldest buildings, as well as skyscrapers. Koreatown and 16 Mid-Wilshire are among Los Angeles' most densely populated districts. 17 Neighborhood Demographics Average HouseholdIncome Median Household Income Median Age Renter OccupiedHousingUnits Owner OccupiedHousingUnits Average HouseholdSize Families Households Population 2022 Summary Average HouseholdIncome Median HouseholdIncome Median Age Renter OccupiedHousingUnits Owner OccupiedHousingUnits Average HouseholdSize Families Households Population 2017 Summary 5 Miles 1 Mile $47,840 $30,037 33.9 45,105 1,933 2.85 28,204 47,039 136,448 1 Mile $42,031 $29,451 33.0 43,347 1,897 2.84 27,101 45,244 130,828 2 Miles 3 Mile $63,786 $35,325 35.4 204,587 27,948 2.58 122,607 232,536 633,605 3 Miles $54,986 $33,524 34.6 196,333 27,229 2.58 118,436 223,562 610,389 1 Miles 5 Mile $72,784 $41,328 35.1 377,327 86,210 2.73 254,276 463,537 1,308,628 5 Miles $62,558 $38,200 34.1 363,252 84,246 2.72 246,041 447,498 1,262,562 90-100 –Daily errandsdo WALK SCORE “Walker’s Paradise” not requireacar Commute to Downtown 93 43 min 12 min 22 min 7 min Since 2010 when Jon Stewart and Stephen Colbert broadcasted their “Sanity Rally” at this park, Macarthur park has become hub for rallies, student walk outs and marches for justice, equality, respect and dignity for all humanity. Macarthur park together with the Levitt Pavilion have become the starting point for marches that lead through the Wilshire Corridor to Los Angeles City Hall. Macarthur park today is considered a civic treasure. The soul of the City of Angels.

Donna Summer sang about this park in the 1970s and was one of several stars that made this iconic park famous. While the park struggled with many problems related to high demand for open space in urban area that in exist in many cities, the combined efforts by the city of Los Angeles and the community has made this park an example of how parks contribute positives things to a neighborhood. In 2016 the city of Los Angeles embarked on a plan to renovate Macarthur Park with the unveiling of a 20 million dollar improvement plan. These improvements will no doubt make a positive contributions to the neighborhood.

The Levitt pavilion, located in the park, has undergone several renovations over the years and is home to outdoor concerts and plays. In the summer, there is a weekly concert series featuring music from several different genres, 50 free concerts in total.

Target is constructing an urban concept department store, blocks away, with luxury apartments above. The store is scheduled to open toward the end of 2017.

In addition to the new construction, the area has multiple landmark developments that are well known in Los Angeles and many throughout the country.

The Park Plaza Hotel – in 1927 the hotel was one of Los Angeles most luxurious hotels. Once known to Hollywood Stars as the place to go for events and balls, the Park Plaza Hotel is around the corner from Hanford Apartments and is use today for filming movies, TV shows, commercials, and music videos. The music video, Sugar, by Maroon 5 was recorded in front of the hotel. Kendrick Lamar shot the video for his hit song “Humble” at the Park Plaza. In 2013, the movie Gangster Squad with Emma Stone, Ryan Gosling, Sean Penn, and Nick Notle was shot at the hotel.

In keeping with famous places used for music videos in the neighborhood, the cement building at the corner of Wilshire and Park View, was the site for Pharrell Williams video for his song “Come Get It Bea” featuring Miley Cyrus. Hanford Apartments is within walking distance of the famous Langers deli, which serves the best pastrami sandwiches in the country.

La Fonda, one of the best restaurants in Los Angeles, is walking distance from Hanford. The restaurant is well know for it great Mexican food and dinner shows featuring grammy award winning mariachi bands.

Wii spa, is one of Los Angeles best spas. It is located 3 blocks from Hanford and is well know for its luxury and cutting-edge spa treatments. They are open 24 hours a day.

Target CEMENT BUILDING Levitt pavillion

PARK PLAZA La FondA WII SPA Macarthur park AND NEIGHBORHOOD Macarthur park

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Milazo Inc. 836 N. Sanborn Ave #100 Los Angeles, CA 90029 213.739.8871 Office 702.630.4295 Cell [email protected]

Viviana Manino | Broker License # 01185718

REAL ESTATE