11922-26 Runnymede St, North Hollywood, CA 91605

11922-26 Runnymede St 1 OFFERING MEMORANDUM OFFERING NORTH HOLLYWOOD, CA 91605 CA HOLLYWOOD, NORTH ™ 11922-26 Runnymede St Runnymede 11922-26 Exclusively Listed By: ™ BRANDON DICKER DANIEL WITHERS Associate - Multifamily Senior Vice President - Multifamily Direct +818 923 6118 Direct +818 923 6107 Mobile +818 523 1754 Mobile +310 365 5054 [email protected] [email protected] LIC#01958894 (CA) LIC#01325901 (CA) 11922-26 Runnymede St 3 14 Location Overview Location 06 Financial Overview OFFERING MEMORANDUM OFFERING 04 Property Overview NORTH HOLLYWOOD, CA 91605 CA HOLLYWOOD, NORTH 11922-26 Runnymede St Runnymede 11922-26 PROPERTY04 OVERVIEW

™ 11922-26 Runnymede St 5 Property Summary Number of Units: 8 Number of Units: Built: 1946 Year APN: 2317-014-021 Gross Sq. Ft.: 6,225 Unit: 778 Per S.F. Average Size (Acres): 0.62Lot DESCRIPTION 11922-26 Runnymede Street is located in one of Los Angeles’s most Angeles’s in one of Los is located Street 11922-26 Runnymede the 27,105 North Hollywood. Built in 1946, popular rental markets, single family homes and two duplex square foot lot consists of four on both Runnymede Street buildings. The property has frontage Canyon and Laurel Avenue between Radford Street and Valerio In addition, to the 170 freeway. Boulevard. There is direct access dining, to shopping, to be in proximity this property allows residents North Hollywood Arts District. 11922- and entertainment offered in is truly a unique property in one of the most 26 Runnymede Street Angeles. in Los rental markets exciting FINANCIAL06 OVERVIEW

™ 11922-26 Runnymede St 7 Rent Market Market $9,250 $3,000 $2,400 $2,600 Monthly $17,250 $207,000 $1,850 $3,000 $2,400 $2,600 Market Rent Rent Market Rent $1,739 $1,547 $1,803 $6,456 Current Monthly $11,545 $138,540 8 778 Rent 0.62 $1,291 1946 17.07 $1,739 $1,547 $1,803 3.31% 6,225 Current Avg Current Avg $2,395,000 2317-014-021 13% 13% 13% 63% Unit Mix % 3+1 2+1 4+2 3+2 Unit Mix

1 1 1 5

Unit Mix nvestment Summary Summary Investment Total Units Total Scheduled Monthly Rent: Rent: Scheduled Yearly Year Built: Year APN: Gross Sq. Ft.: Unit: Per S.F. Average Size (Acres): Lot Cap Rate: GRM: Number of Units: Offering Price: Offering Annualized Operating Summary

Current Market Scheduled Gross Income: $138,540 $207,000 49% Upside Less Vacancy Reserve: $6,927 5.0% $10,350 5.0% Laundry Income: $1,800 $1,800 Gross Operating Income: $133,413 $198,450 Expenses: $54,090 39.0% $42,364 20.47% * Net Operating Income: $79,323 $156,086 Loan Payments: $0 $0 Pre-Tax Cash Flow: $79,323 3.3% $156,086 6.52% ** Plus Principal Reduction: $0 $0 Total Return Before Taxes: $79,323 3.31% $156,086 6.52% ** * As a percent of Scheduled Gross Income ** As a percent of Down Payment Laundry income is owner estimated Proforma Annual Operating Expenses

Current Per Unit % of SGI Market Per Unit % of SGI Property Taxes 1.19% x Sale Price $28,573 $3,572 21.42% $22,858 $2,857 11.0% Off-Site Management 4.0% x GOI $3,850 $481 2.89% $7,938 $992 3.8% Insurance $0.30 x GSF $1,868 $233 1.40% $1,868 $233 0.9% Trash / Pest Control $125 x Units $1,000 $125 0.75% $1,000 $125 0.5% Repairs & Maintenance $400 x Units $3,200 $400 2.40% $3,200 $400 1.5% Turnover $200 x Units $1,600 $200 1.20% $1,600 $200 0.8% Utilities $1,350 x Units $10,800 $1,350 8.10% $700 $88 0.3% Gardener $200 x Units $1,600 $200 1.20% $1,600 $200 0.8% Reserves $200 x Units $1,600 $200 1.20% $1,600 $200 0.8% Total Expenses $54,090 $6,761 40.54% $42,364 $5,295 20.5%

Current Per Unit % of SGI Non-controllable expenses: Taxes, Ins., Reserves: $30,440 $3,805 22.0% Total Expense without Taxes $25,518 $3,190 18.42% 11922-26 Runnymede St 9 Rent $1,128 $1,739 $1,273 $1,547 $1,379 $1,383 $1,293 $1,803 $1,443 $11,545 3+1 2+1 2+1 2+1 2+1 2+1 Mix 3+2 4+2 Totals Averages Unit 11921 11923 11924 11922 11926 11924A 11924 1/2 11926 1/2 ent Roll ent R 13

6 5

14 1 15 9 2 7

11 12 1 11922-26 Runnymede St 11 GRM 14.13 17.72 17.07 20.51 13.88 16.56 4 3 5 5 3.4 4.3 Rate 4.57 3.57 5.34 5.95 4.41% 3.31% Actual Cap - 1/5/18 3/7/18 8/7/18 8/8/17 6/7/18 3/2/18 1/31/18 4/17/18 8/31/17 8/15/17 5/21/18 2/21/18 5/24/18 3/30/18 6/20/18 Sold Date Sold $49 $173 $415 $321 $221 $201 $385 $373 $334 $323 $323 $339 $363 $363 $320 $295 $440 $299 Price Per Square Foot Square 3,112 3,112 4,311 7,681 3,241 5,941 5,941 2,165 2,814 5,035 6,225 4,673 2,867 3,838 3,838 3,838 3,838 5,635 5,635 15,713 15,713 3,200 6,500 Square FeetSquare Unit Price Per $267,500 $222,167 $193,750 $193,750 $130,833 $130,833 $212,500 $243,667 $243,667 $310,000 $310,000 $229,750 $229,750 $566,667 $566,667 $333,000 $333,000 $262,500 $525,000 $525,000 $555,000 $200,000 $200,000 $300,000 $300,000 $299,375 $303,488.93 Sale Price Sale $919,000 $919,000 $775,000 $785,000 $785,000 $850,000 $1,070,000 $900,000 $1,700,000 $1,700,000 $1,271,266 $1,333,000 $1,462,000 $1,462,000 $1,240,000 $1,240,000 $1,665,000 $1,665,000 $2,100,000 $2,100,000 $1,050,000 $1,000,000 $2,220,000 $2,220,000 $2,395,000 1951 1974 1937 1927 1957 2017 2017 1936 1953 1953 1955 1963 1982 1946 2012 1946 Year Built Year Totals Address 11912 Hart St 11701 Oxnard11701 St 6910 Hinds Ave 6519 Troost Ave Troost 6519 6833 Hinds Ave 11433 Hatteras St 11918 Vanowen St 11918 Vanowen 5756 Fulcher Ave 1956 N Ontario St 7307 Bakman Ave Bakman 7307 7303 Bakman Ave Bakman 7303 12528 Vanowen St Vanowen 12528 7545 Vineland7545 Ave 6634 Vineland Ave 1002 N Griffith1002 Park Dr

11922-26 Runnymede Street Runnymede 11922-26

1 7 2 3 5 9 6 8 4 11 12 13 15 14

10 ales Comparables Sales 3

8 2

7 6 11922-26 Runnymede St 13 975 830 840 1,100 1,610 1,050 1,200 1,000 Square FeetSquare $1,795 $1,750 $1,850 $1,800 $2,395 $2,895 $2,400 $2,390 Asking Rent 2+1 3+2 3+2 4+2 2+3 2+2 2+2 2+2 Floor Plan Floor Two Bedrooms Two Four Bedrooms Four Three Bedrooms Three Address, City, State 11757 Saticoy Street, North Hollywood, CA, 91605 6843 Agnes North Avenue, Hollywood, CA, 91605 6842 Agnes North Avenue, Hollywood, CA, 91605 7727 Lankershim Blvd, North Hollywood, CA, 91605 7300 Lankershim Blvd, North Hollywood, CA, 91605 7526 Simpson7526 North Avenue, Hollywood, CA, 91605 11730 Runnymede Street, North Hollywood, CA, 91605 7526 Laurel7526 Canyon Boulevard, North Hollywood, CA, 91605 1 7 7 7 1 3 4 2 5 3 4 2 8 6 5 6 8 11 12 10 Rent Comparables Rent LOCATION14 OVERVIEW

™ 11922-26 Runnymede St 15 ±12.4 miles GLENDALE ±7.8 miles ±7.8 BURBANK ±6.2 miles TOLUCA LAKE TOLUCA

±2 miles

NORTH HOLLYWOOD NORTH ±6.3 miles STUDIO CITY STUDIO SURROUNDING CITIES SURROUNDING LOS ANGELES MSA

As the second largest metropolitan area in the United States, the Los Angeles Metropolitan Statistical Area, or the Southland, consists of both Los Angeles and Orange Counties. These two counties also make up the inner core of the Greater Los Angeles urbanized region. Los Angeles County, one of California’s original 27 counties, is one of the nation’s largest counties both in land area and population. With nearly 10 million residents, the Los Angeles population accounts for approximately 27 percent of California’s population. The area continues to grow, especially given the vigorous residential development in downtown LA. Famously known for a heavy entertainment industry based economy, the Los Angeles metropolitan area attracts many visitors. Consequently, leisure and hospitality is also a leading industry and has experienced recent growth in employment. It is now the sixth largest hotel market in the United States. The Los Angeles-Orange County metro area alone has an enormous economy with an estimated $866 billion GMP. Together with Ventura, Riverside and San Bernardino Counties, Orange and Los Angeles county make up the Greater Los Angeles Area, a combined statistical area that is the third largest economic center in the world after the Greater Tokyo and New York metropolitan areas.

ECONOMY

The LA economy is famously and heavily based on the entertainment DEMOGRAPHICS industry, with a particular focus on television, motion pictures, interactive games, and recorded music - the Hollywood district of Los Angeles and its surrounding areas are known as the “Movie Capital 1 MILE 3 MILE 5 MILE of the United States” due to the region’s extreme commercial and POPULATION historical importance to the American motion picture industry. Other significant sectors include shipping/international trade - particularly 2010 Census 39,802 266,801 702,829 at the adjacent Port of Los Angeles and Port of Long Beach, together comprising the United States’ busiest seaport - as well as aerospace, 2018 Estimate 41,376 278,392 736,579 technology, petroleum, fashion and apparel, and tourism. 2023 Projection 41,912 281,543 745,337

POPULATION GROWTH

Percent Change: 2010 to 2018 6.09% 6.76% 7.05%

TOP EMPLOYERS Percent Change: 2018 to 2023 3.96% 3.86% 3.86%

HOUSEHOLDS

2010 Census 10,675 83,167 235,608

2018 Estimate 11,326 88,785 252,229

2023 Projection 11,774 92,213 261,969

INCOME

Average Household Income $63,181 $74,584 $86,563

Median Household Income $46,886 $53,501 $58,864 11922-26 Runnymede St 17

TRANSPORTATION NORTH HOLLYWOOD NORTH With the Bob Hope Airport along its northeast border and new metro With the Bob Hope Airport along its Holly- and Orange Line transforming North stations added for the Red it has never been easier wood into a regional hub for the entire valley, Hollywood is bordered North to get to and from NoHo than it is today. by freeways, making it easy to get just about anywhere in a hurry. Most retail activity sits along the triangle of streets between Lank sits along the triangle of streets between Most retail activity North Hollywood, or NoHo as many call it, is a thriving suburb of a thriving suburb of as many call it, is or NoHo North Hollywood, Hills from the Hollywood 10 minutes through Angeles less than Los beautiful San Boulevard. Situated perfectly in the bustling Hollywood best of both subur- North Hollywood provides the Fernando Valley, It is a full-fledged, well-developed dynamic LA life. ban living and the and arts, community, that combines history, diverse neighborhood within walking offers everything a person needs entertainment and distance. The city has sustained transformation as it continues to provide The city has sustained transformation A surge of live. and work, play, increasingly better opportunities to into the bustling community new construction turned North Hollywood of development projects NoHo is home to a variety Today, it is now. while also building new aimed at maintaining its historic character work, and play. places for residents to live, ershim Boulevard and Vineland Avenue, known as the Arts District. known and Vineland Avenue, ershim Boulevard and more things to do all There are many bars, shops, restaurants the NoHo Arts District has over the neighborhood. In recent years, creating a pedestrian-friendly been expanding with the intention of of North Hollywood is also home to the Academy “urban village.” Arts & Sciences and shares a border with Universal Studios Television to the south. NOHO: RESURGENCE North Hollywood, or NoHo as many call it, is a thriving suburb of Los Angeles less than 10 minutes through the Hollywood Hills from bustling Hollywood Boulevard. Situated perfectly in the beautiful San Fernando Valley, North Hollywood provides the best of both suburban living and the dynamic LA life. It is a full-fledged, well-developed diverse neighborhood that combines history, community, arts, and entertainment and offers everything a person needs within walking distance.

Most retail activity sits along the triangle of streets between Lankershim Boulevard and Vineland Avenue, known as the Arts District. There are many bars, shops, restaurants and more things to do all over the neighborhood. In recent years, the NoHo Arts District has been expanding with the intention of creating a pedestrian-friendly “urban village.” North Hollywood is also home to the Academy of Television Arts & Sciences and shares a border with Universal Studios to the south.

The city has sustained transformation as it continues to provide increasingly better opportunities to work, play, and live. A surge of new construction turned North Hollywood into the bustling community it is now. Today, NoHo is home to a variety of development projects aimed at maintaining its historic character while also building new places for residents to live, work, and play.

ATTRACTIONS As a happening enclave that is characterized by its live theatre scene, NoHo has more than 20 professional theatres putting on memorable performances in L.A.’s own ver- sion of “off-Broadway”. The city has the highest concentration of operating theaters in a single square mile, outside of New York. Locals and visitors can see a show at one of the 1926 El Portal Theater’s three stages or catch performances presented by the acclaimed Road Theatre Company, which stages plays at two venues, including the Art Deco Lankershim Arts Center, a renovated 1939 utilities building.

Meanwhile, a stroll down Lankershim Boulevard allows for the opportunity to visit vintage boutiques and engage with local artists at outdoor cafes. Notable restaurants and lounges along this main thoroughfare are The Federal Bar, a gastropub house in a 1920s-era bank; Firenze Osteria, which is run by TV superchef Fabio Viviani; Skinny’s Lounge, a cozy nightspot; and Tiki No, a bar replete with exterior fire-spewing torches. 11922-26 Runnymede St 19 The Offering Memorandum and its contents are confidential; The Offering Memorandum and its will hold it and treat it in the strictest of confidence; and You or its contents in any fashion or or permit anyone else to disclose this Offering Memorandum disclose will not, directly or indirectly, You of the Seller. manner detrimental to the interest 1. 2. 3. CONFIDENTIALITY & DISCLAIMER STATEMENT & DISCLAIMER CONFIDENTIALITY 91605 North Hollywood, CA Street and affairs of 11922-26 Runnymede pertaining to the business contains select information This Offering Memorandum or contain all of the information Memorandum may not be all-inclusive Advisors. This Offering by Matthews Retail (“Property”). It has been prepared the purpose and furnished solely for this Offering Memorandum is confidential The information contained in may desire. a prospective purchaser without person other any to available made or purpose other any for used be to not is It Property. the of purchaser prospective a by review a of upon part in and Seller the by supplied information upon part in based is material The Advisors. Retail Matthews or Seller of consent written the warranty, any representation or employees, or agents makes nor their officers, Owner, reliable. obtained from sources it deems financial information legal liability is assumed or shall or any of its contents and no of this Offering Memorandum as to the accuracy or completeness express or implied, without reliance upon and form their own conclusions their own projections purchasers should make Prospective respect thereto. be implied with own due diligence. herein and conduct their the material contained you agree: this Offering Memorandum for the Property, By acknowledging your receipt of to discretion, to reject any and all expressions of interest or offers Advisors expressly reserve the right, at their sole Owner and Matthews Retail Memorandum or making an offer to purchase discussions with any person or entity reviewing this Offering purchase the Property and to terminate and delivered. fully executed agreement for the purchase and sale of the Property has been the Property unless and until a written discontinue such negotiations, then you agree leading to the acquisition of the Property or in the future you If you wish not to pursue negotiations this Property including this Offering Memorandum. to purge all materials relating to or information provided herein or in rights with respect to this prospective transaction, the Property, sole and exclusive A prospective purchaser’s be subject to the Purchase Agreement and shall shall be limited to those expressly provided in an executed connection with the sale of the Property Advisors or any of their affiliates Retail purchaser have any other claims against Seller or Matthews In no event shall a prospective terms thereof. relating to or causes of action damages, liability, Directors, shareholders, owners, employees, or agents for any or any of their respective officers, or sale of the Property. this solicitation process or the marketing state of affairs of the Property or constitute an indication that there has been no This Offering Memorandum shall not be deemed to represent the Memorandum. change in the state of affairs of the Property since the date this Offering ™ Exclusively Listed By:

BRANDON DICKER DANIEL WITHERS Associate - Multifamily Senior Vice President - Multifamily Direct +818 923 6118 Direct +818 923 6107 Mobile +818 523 1754 Mobile +310 365 5054 [email protected] [email protected] LIC#01958894 (CA) LIC#01325901 (CA)

OFFERING MEMORANDUM 11922-26 Runnymede St NORTH HOLLYWOOD, CA 91605