401-409 San Vicente Blvd.

Incredible Santa Monica Location17 units

ERROL SPIRO - CEO OF MILLER & DESATNIK REALTY CORP.

PROPERTY DESCRIPTION401 San Vicente Boulevard | Santa Monica, CA 90402

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

401-409 San Vicente Blvd.

Errol Spiro - CEO & Jon Bloom of Miller & Desatnik areproud to present 401-409 San Vicente Blvd. A truly rareand once in a generation multi-family opportunity. Thisseventeen unit property is in a prime location on thecorner San Vicente Blvd. and 4th Street in Santa Monica.Walking distance to the beach, 3rd St. Promenade andMontana Ave.

The seventeen units consists of 14 - 1 BR + 1 bath and 3 -2 BR + 1 bath units. Value-add opportunity with belowmarket rents. All of units have individual water heaters.Parking structure is in need of the seismic retrofittingwork. There are currently two units that are vacant.

First time on the market in almost 30 years! A rareopportunity for any multi-family investor looking to adda highly sought after property to their portfolio.

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PROPERTY SUMMARY401 San Vicente Boulevard | Santa Monica, CA 90402

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

Property SummaryType: MultiFamily

Price: $7,995,000

Lot Size: 15,590 Sq. Ft.

Building Size: 13,999

Price Per Unit: $470,294

Price Per Rentable SF: $571

CAP Rate 3.1%

GRM 18

Property OverviewSeventeen units consists of fourteen 1 BR + 1 bath & three 2 BR + 1 bathunits. Value-add opportunity with well below market rents. The units arelarge, averaging 882 SqFt and are well maintained. Beautiful courtyardwith a fountain surrounded by large trees providing each tenant with lotsof privacy.

Location OverviewPrime north of Wilshire location at the corner of 4th St & San VicenteBlvd. Directly adjacent to the Santa Monica stairs. Short distance toOcean Ave.., Montana Ave. and 3rd St. Promenade.

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INVESTMENT DETAILS401 San Vicente Boulevard | Santa Monica, CA 90402

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

Analysis Analysis Date September 2020

Property Property Type MultiFamily Property 401-409 San Vicente Blvd. Address 401 San Vicente Boulevard City, State Santa Monica, CA 90402 Year Built 1953

Purchase Information Purchase Price $7,995,000 Units 17 Total Rentable Sq. Ft. 13,999 Lot Size 15,590 sf

Income & Expense Gross Operating Income $430,624 Monthly GOI $35,885 Total Annual Expenses ($182,938) Monthly Expenses ($15,245)

Financial Information Down Payment $4,495,000

Loans Type Debt Term Amort Rate Payment LO Costs Interest Only $3,500,000 30 years 0 years 3.25% $9,479

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EXECUTIVE SUMMARY401 San Vicente Boulevard | Santa Monica, CA 90402

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

Acquisition Costs Purchase Price, Points and Closing Costs $7,995,000 Investment - Cash $4,495,000 First Loan (Interest Only) $3,500,000

Investment Information Purchase Price $7,995,000 Price per Unit $470,294 Price per Sq. Ft. $571.11 Expenses per Unit ($10,761)

Income, Expenses & Cash Flow Gross Scheduled Income $443,805 Total Vacancy and Credits ($13,181) Operating Expenses ($182,938)

Net Operating Income $247,686 Debt Service ($113,750)

Cash Flow Before Taxes $133,936

Financial Indicators Cash-on-Cash Return Before Taxes 2.98% Debt Coverage Ratio 2.18 Capitalization Rate 3.10% Gross Rent Multiplier 18.01 Gross Income / Square Feet $31.70 Gross Expenses / Square Feet ($13.07) Operating Expense Ratio 42.48%

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PRO FORMA SUMMARY401 San Vicente Boulevard | Santa Monica, CA 90402

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

Unit Mix & Monthly Scheduled Income Type Units Actual Total Market Total 1+1 14 $2,137 $29,912 $3,000 $42,000 2+1 3 $2,234 $6,701 $4,250 $12,750 Totals 17 $36,614 $54,750

Annualized Income Description Actual Market Gross Potential Rent $439,365 $657,000 - Less: Vacancy ($13,181) ($19,710) + Misc. Income $4,440 $4,440 Effective Gross Income $430,624 $641,730 - Less: Expenses ($182,938) ($182,938) Net Operating Income $247,686 $458,792 - Debt Service ($113,750) ($113,750) Net Cash Flow after Debt Service $133,936 $345,042 + Principal Reduction $0 $0 Total Return $133,936 $345,042

Annualized Expenses Description Actual Market Property Taxes $99,938 $99,938 Other Expenses $83,000 $83,000 Total Expenses $182,938 $182,938 Expenses Per RSF $13.07 $13.07 Expenses Per Unit $10,761 $10,761

Investment SummaryPrice $7,995,000Year Built 1953Units 17Price/Unit $470,294RSF 13,999Price/RSF $571.11Lot Size 15,590 sfFloors 2APN 4293-001-028Cap Rate 3.1%Market Cap Rate 5.74%GRM 18.01Market GRM 12.09

Financing SummaryLoan 1 (Interest Only) $3,500,000Down Payment $4,495,000Interest Rate 3.25%Term 30 yearsMonthly Payment $9,479DCR 2.18

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UNIT RENT ROLL401 San Vicente Boulevard | Santa Monica, CA 90402

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

Unit Description Approx. Sq. Ft. Current Rent Pro FormaRent Comments

1 1+1 930 $2,201 $3,000

2 1+1 850 $2,552 $3,000

3 1+1 850 $865 $3,000

4 1+1 850 $2,880 $3,000

5 1+1 850 $2,402 $3,000

6 1+1 850 $1,953 $3,000

7 2+1 1,010 $3,500 $4,250

8 1+1 850 $3,000 $3,000 Vacant - Projected9 1+1 850 $876 $3,000

10 1+1 850 $2,402 $3,000

11 2+1 1,010 $1,440 $4,250

12 1+1 850 $2,020 $3,000

13 2+1 1,010 $1,761 $4,250

14 1+1 850 $3,000 $3,000 Vacant - Projected15 1+1 850 $2,184 $2,184 Managers Unit16 1+1 850 $876 $3,000

17 1+1 850 $2,700 $3,000

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BUSINESS MAP401 San Vicente Boulevard | Santa Monica, CA 90402

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LOCATION MAP401 San Vicente Boulevard | Santa Monica, CA 90402

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PROPERTY PHOTOS401 San Vicente Boulevard | Santa Monica, CA 90402

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PROPERTY PHOTOS401 San Vicente Boulevard | Santa Monica, CA 90402

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PROPERTY PHOTOS401 San Vicente Boulevard | Santa Monica, CA 90402

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PROPERTY PHOTOS401 San Vicente Boulevard | Santa Monica, CA 90402

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PROPERTY PHOTOS401 San Vicente Boulevard | Santa Monica, CA 90402

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PROPERTY PHOTOS401 San Vicente Boulevard | Santa Monica, CA 90402

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LOCATIONLOCATION OVERVIEW

SANTA MONICA, CALIFORNIA

One of the most desirable addresses for both living and working, Santa Monica offers a walkabledowntown, a blossoming public transportation system, and several notable tourist destinations.Known for its sunshine and beaches, Santa Monica prides itself as a national model for progressiveissues, including social services, quality of life for local residents, and environmental leadership.Median family income is $110,000 and average home prices are $1.1 million resulting in beautifulneighborshoods and incredible ROI for real estate investors.

This urban village has spectacular views of its vast white sand beaches from Palisades Park,exceptional shopping on Third Street Promenade, main Street and Montana Avenue, and theregion’s most renowned restaurant scene. Santa Monica stretches for about two miles along thecoast before joining up with Venice Beach.

A population of nearly 90,000 and a daytimeworkforce of about 80,000 makes SantaMonica’s labor force participation rateamong the highest in the world and asubstantial daily in-migration of employees.Major employers include UCLA Hospital, St.John’s Health Center, RAND Corporation,Universal Music Group, Activision and SantaMonica College.

Silicon Beach is the Westside region of theLos Angeles metropolitan area that is hometo over 500 tech startup companies. Majortechnology companies have opened officesin the region including Google, Yahoo!,YouTube, BuzzFeed, Facebook, AOL,Electronic Arts, EdgeCast Networks, andMySpace. The region is considered thesecond- or third-largest tech hub in the world,according to various reports. This has hadmajor impacts on the type and availabilityof office space and on home prices in PlayaVista, Playa Del Rey, Westchester, SantaMonica, and Venice, as these areas havebecome more desirable due to this influx.The effects are also spilling over into Marina del Rey which is attracting tech firms.

The Expo Line is a light-rail line that runs between Downtown Los Angeles and Santa Monica. Theline is named “Expo” after Exposition Boulevard, which it runs alongside for most of its route. It isone of the six lines in the Metro Rail system, and is operated by the Los Angeles CountyMetropolitan Transportation Authority (Metro).

Abbot Kinney

GOOGLE HQ

HARD ROCK CAFEBLUE BOTTLE COFFEE

DEMOGRAPHICS401 San Vicente Boulevard | Santa Monica, CA 90402

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemedreliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriateprofessionals.

Population 1 Mile 3 Miles 5 MilesMale 11,373 60,598 153,360Female 12,630 64,537 159,749Total Population 24,003 125,135 313,109

Age 1 Mile 3 Miles 5 MilesAges 0-14 2,866 15,784 38,520Ages 15-24 1,940 10,534 24,993Ages 55-64 3,942 19,946 44,335Ages 65+ 5,467 25,414 54,577

Race 1 Mile 3 Miles 5 MilesWhite 21,958 106,583 238,756Black 85 2,103 5,999Am In/AK Nat 1 53 211Hawaiian 2 5 34Hispanic 1,064 11,910 39,214Multi-Racial 1,600 16,224 55,248

Income 1 Mile 3 Miles 5 MilesMedian $107,946 $82,382 $77,892< $15,000 1,469 6,701 16,962$15,000-$24,999 1,051 4,442 10,777$25,000-$34,999 729 4,128 9,804$35,000-$49,999 1,026 5,745 14,263$50,000-$74,999 1,539 8,853 21,916$75,000-$99,999 1,412 7,102 16,849$10,0000-$149,999 2,072 9,914 23,078$150,000-$199,999 1,016 5,031 11,062> $200,000 2,565 10,697 23,057

Housing 1 Mile 3 Miles 5 MilesTotal Units 15,014 70,501 168,040Occupied 13,616 64,925 153,790Owner Occupied 4,695 23,492 56,008Renter Occupied 8,921 41,433 97,782Vacant 1,398 5,576 14,250

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