david leibowitz partner

EXCLUSIVE LISTING AGENT David LeibowitzPartner(818) [email protected]

The information contained herein is confidential. It is intended for the purpose of considering investment in the property described herein and is not to be copied or redistributed in any way without the direct consent of IREA. This information package has been prepared to provide information to the prospective buyers. It does not, however, purport to present all material information regarding the subject property and it is not a substitute for a thorough investigation by the sellers.

IREA has not made any investigation, and makes no warranty or representation with respect to the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue or renew its occupancy of the subject property. All market analysis projections are provided for reference purposes only and are based on assumptions relating to general market conditions, competition and other various market indicators. The information contained in this proposal has been obtained from sources we believe to be reliable; however, IREA has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.

The Seller retains the right to withdraw, modify or cancel this offer to sell at any time and without any notice or obligation. Any sale is subject to the sole and unrestricted approval of Seller, and Seller shall be under no obligation to any party until such a time as Seller and any other necessary parties have executed a contract of sale containing terms and conditions acceptable to Seller and such obligations of Seller shall only be those in such contract of sale.

Disclaimer & Confidentiality

OFFICE16501 Ventura Blvd. Suite 448Encino, CA 91436Phone: 818.386.6888Fax: 818.386.2805

www.irea.com

EXCLUSIVE LISTING AGENT

I R E A

David LeibowitzPartner(818) [email protected]

LINDBLADE LOFTS - IREA

59152335

Overview

Mar Vista

The Property

Financials

Contents

Demographics

ADDRESS

PROPERTY TYPE

UNITS

YEAR BUILT

PARCEL

SQUARE FEET

LOT SIZE

PARKING

ZONING

4270 Lindblade Dr

Los Angeles, CA 90066

Luxury Multifamily

20 Units

2015

4232-017-030

20,924 SF

13,154 SF

20 Spaces

LAR3

OVERVIEW | 5


INTERIORS

near Los Angeles — California

1 of 1

00 500500 1,0001,000 1,500 m1,500 m

Location Map

Target

WESTFIELD CULVER CITY(2.2 miles)

Best Buy

JCPenney

CVS Pharmacy

Macy’s

H&M

WESTFIELD CULVER CITY

LOYOLA MARYMOUNTUNIVERSITY

SANTA MONICA COLLEGE

VENICE BEACH BOARDWALK

SANTA MONICA PIER

LAX, INTERNATIONAL AIRPORT

2.2 Miles

3.4 Miles

3.9 Miles

3.7 Miles

7.4 Miles

7.0 Miles

DISTANCE FROM PROPERTY



PLAYA VISTA CAMPUS

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Washington Blvd

Inglewood Blvd

Lindblade Dr

IREA is pleased to present the exclusive opportunity to purchase Lindblade Lofts, a 2015 construction 20-unit luxury townhome style apartment building located in the highly desirable Mar Vista neighborhood of Los Angeles’ lower Westside.

Lindblade Lofts tastefully designed, modern architecture reflects an ambience that is both simple and luxurious. It offers a favorable unit mix of 19 large, three story town-home style one bedroom, one and a half bathroom units with a lofts and roof deck along with 1 large one bedroom one bathroom with loft and patio. One of the units is a designated affordable/low income unit with a maximum allowable rent of $986.

Unit amenities include in-unit washer/dryer, central heating/air conditioning, large windows, sizable closets, and hardwood floors throughout with up to 19’ ceilings. Kitchens feature Qortstone counter tops, custom cabinets, and are fully equipped with stainless steel appliances. The bathrooms contain modern, ceramic tile flooring, glass/marble accented showers, and Qortstone counter tops.

The building features a state-of-the-art rec room and fitness center on the 2nd floor, secured electronic entry, security monitoring with remote online-streaming viewing accessibility, and secured ground-level garage parking for each unit. There is a 100-gallon master water boiler containing a 2-inch recirculating pipe for instant hot water and the property is a Certified Green Building.

Lindblade Lofts is ideally situated just 2 miles from the beach as well as The Campus at Playa Vista, which is home to companies such as YouTube, Facebook, Yahoo and Fox Sports. Google purchased 12 acres adjacent to The Campus in 2014.

The property offers a rare investment opportunity to acquire a prime West LA located, newer construction, non-rent controlled luxurious asset that will continue to appreciate over time.


The Offering

100% Collections Over the Last Year

THE OFFERING | 13

Built in 2015

Fitness Center & Roof Decks

Highly Desirable Location2 Miles from Marina del Rey



MAR VISTA FARMER’S MARKET

Mar Vista is a small but active neighborhood located between Venice and Culver City. Like many neighborhoods in Los Angeles’ Westside, Mar Vista has been undergoing a lot of new development and change over the past few years. Thanks to the recent advent of the tech-fueled Silicon Beach over the past couple years, new eateries, shops, residential developments, and specialty boutiques have popped up all around Mar Vista.

Today, residents and visitors enjoy plenty of community benefits, including great dining and shopping options. Situated mostly on Venice Boulevard bordering Centinela Avenue, the neighborhood is only a short distance from the beach as well as the downtown centers of Santa Monica and Culver City.

The neighborhood’s most well-known park is Mar Vista Park, a recreational area that’s so popular it’s even shared with surrounding communities. Residents can also explore the park’s many amenities, such as its jogging trails, picnic spaces, playgrounds, and barbecue pits.

With a great location and plenty of entertainment options, activities, and amenities, Mar Vista is one of the best neighborhoods on the city’s Westside.

ABOUT MAR VISTA



PLAYA VISTA PARK

WESTFIELD CULVER CITY

MARINA DEL REY WATER BUS

MAR VISTA TIME TRAVEL

LOYOLA MARYMOUNT, LA

BALLONA PARKABOUT MAR VISTA | 15

TOP EMPLOYERS

GOOGLE

HULU

VERIZON

SNAP INC

YOUTUBE

BELKIN

TOMS

FULLSCREEN

TEAM ONE

HOSPITALS

CEDARS-SINAI MARINA DEL REY

SOUTHERN CA HOSPITAL AT CULVER CITY

KINDRED HOSPITAL LOS ANGELES

KECK MEDICINE OF USC

KAISER PERMANENTE BALDWIN HILLS

RONALD REAGAN UCLA MEDICAL CENTER

GOOD SAMARITAN HOSPITAL

HIGHER EDUCATION


LOYOLA MARYMOUNT UNIVERSITY

CALIFORNIA STATE UNIVERSITY

PEPPERDINE UNIVERSITY - WEST LA

UNIVERSITY OF SOUTHERN CALIFORNIA

UNIVERSITY OF CALIFORNIA - LA


Abbot Kinney shopping area, Venice Skatepark, Small World Books, Venice Canals walkway, murals, Declaration Sculpture, Muscle Beach and more

Macy’s, Best Buy, J.C. Penney, Nordstrom Rack, Target, Adidas, Aldo, Bath & Body Works, Chipotle, Claire’s, Culver City Chamber of Commerce, Disney Store, Express, Five Guys Burgers & Fries, H&M, Forever 21, Old Navy, PINK, The Body Shop, The Children’s Place, Trader Joe’s, Tilly’s, Ulta Beauty, Zumiez

SHOPPING & LEISURE

*VENICE BEACH BOARDWALK

*WESTFIELD CULVER CITY

SANTA MONICA PIER

3RD STREET PROMENADE

DOWNTOWN SANTA MONICA

near Los Angeles — California

1 of 1

00 500500 1,0001,000 1,500 m1,500 m

ABOUT MAR VISTA | 17

In the Neighborhood

Culver City

Silicon Beach is the technology capital of Southern California. Spanning the Pacific Ocean to the Hollywood Hills, from Santa Monica to LAX, Silicon Beach is home to an innovative collection of tech companies in Los Angeles. The region has attracted an estimated 500 tech companies, ranging from startups to established tech giants. Recognizable names, like Google and Facebook, are neighbors with buzzy startups, like Bird and Fair. In an analysis of over 175 local startups, Mediakix found Silicon Beach startups to be worth over an estimated $155 billion in valuation. This valuation will continue to grow as Silicon Beach expands, attracting more entrepreneurs and investors to the region.

THE INFORMATION PROVIDED HEREIN IS FROM SOURCES WE BELIEVE ARE RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY, WE HAVE NOT VERIFIED IT AND MAKE NO REPRESENTATIONS, GUARANTEES OR WARRANTIES ABOUT IT.LINDBLADE LOFTS - IREA

Los Angeles International (LAX)

• 5th busiest airport in the world• 408,000+ employees• Annual economic impact: $60 billion annually; supports

64 million passengers

Santa Monica Airport (SMO)

• 296 operations a day• 83,381 annual operations in 2014• Adjacent to newly opened Airport Park, 8.3 acres on

recaptured aviation land

Westfield Culver City

• 172 stores and over 1 million SF of retail floor area• Anchored by Macy’s, Best Buy, J.C. Penney, Nordstrom

Rack, Target, H&M, Trader Joe’s and Forever 21

Venice Beach Boardwalk

• Abbot Kinney Blvd Shopping area• 60+ small restaurants and bars• Notable attractions such as Venice Skatepark, murals,

Declaration Sculpture, Muscle Beach and more

Mar Vista is a neighborhood in Los Angeles adjacent to Venice, Playa Vista and Marina del Rey, a hub of tech companies and start ups known as Silicon Beach. In 2016, LA startups raised $4.2 billion with Santa Monica-based Snap Inc. pulling in a staggering $1.2 billion Series F while The Trade Desk, based in El Segundo, went public with a $1.1 billion valuation. Silicon Beach companies to know include Headspace, Hulu, ChowNow, Google, Snap Inc, System1 and Wpromote.

• Close to Silicon Beach— tech heavy startup boom• Community Feel— neighborhood weekly farmers

market, art walk, specialty goods and live performances

• Parks and Recreation— abundance of parks including Mar Vista Park

• Millennial-Friendly Community— near popular college neighborhoods of Sawtelle and Palms

ECONOMICSCITY HIGHLIGHTS

RETAIL & LEISURE NEARBY AIRPORTS

ABOUT MAR VISTA | 19

About Mar Vista

3rd Street Promenade

• World-famous alfresco shopping experience• Patagonia, Lululemon, Anthropologie, Urban Outfitters

and Wasteland Vintage

Google Inc.’s new space in Playa Vista, California is a mix of old meets new, featuring exposed wooden beams and open workspaces spread over 450,000 square feet in the historic Spruce Goose hangar. The hangar was constructed in 1943 by businessman and aviator Howard Hughes to house the world’s largest wooden airplane.

The reformed office space, which ZGF calls a “building-within-a-building,” now features large skylights to bring light into the cavernous building, as well as elevated walkways and zigzagging stairs and to encourage workers to walk around.


Playa Vista Campus• LMU School of Film and

Television• 180LA• 72andSunny• Annenberg PetSpace• Belkin• Brookfield Residential• California Pizza Kitchen

Corporate HQ• Canvas Worldwide• Centerfield• Chernin Group• CyberCoders • Facebook • FOX Interactive Media • FOX Sports • Fullscreen, Inc. • Gehry Technologies • Google • Hines • ICANN • IMAX HQ • Kantar Media • Kelton Global

• LA Chargers• LA Clippers • LA Rams • LMU Playa Vista Campus • m/SIX Agency • Mindshare • Millward Brown • Mirum • Ogilvy & Mather • Phelps • POSSIBLE Global Marketing • Rovi Corporation • Rubicon Project • Samsung • Science 37 • Star Energy Partners • Strange Frog Productions • The Honest Company • Tishman Speyer • USC Institute for Creative

Technologies • Verizon • YouTube Space LA

CREATIVE AND TECH COMPANIES @ THE CAMPUS

THE CAMPUS AT PLAYA VISTA | 21

Demographic and Income Profile4270 Lindblade Dr, Los Angeles, California, 90066 Prepared by EsriRing: 3 mile radius Latitude: 33.99618

Longitude: -118.42240

Summary Census 2010 2019 2024Population 261,050 279,306 289,522Households 118,828 126,717 131,130Families 57,138 60,948 63,206Average Household Size 2.15 2.16 2.16Owner Occupied Housing Units 47,216 47,417 48,862Renter Occupied Housing Units 71,612 79,300 82,267Median Age 37.4 39.1 39.4

Trends: 2019 - 2024 Annual Rate Area State NationalPopulation 0.72% 0.67% 0.77%Households 0.69% 0.62% 0.75%Families 0.73% 0.62% 0.68%Owner HHs 0.60% 0.79% 0.92%Median Household Income 3.34% 2.99% 2.70%

2019 2024 Households by Income Number Percent Number Percent

<$15,000 9,686 7.6% 7,837 6.0%$15,000 - $24,999 6,896 5.4% 5,405 4.1%$25,000 - $34,999 6,674 5.3% 5,384 4.1%$35,000 - $49,999 10,527 8.3% 8,586 6.5%$50,000 - $74,999 19,204 15.2% 17,639 13.5%$75,000 - $99,999 15,766 12.4% 16,145 12.3%$100,000 - $149,999 23,390 18.5% 26,360 20.1%$150,000 - $199,999 13,108 10.3% 16,619 12.7%$200,000+ 21,466 16.9% 27,155 20.7%

Median Household Income $89,906 $105,966Average Household Income $130,008 $152,516Per Capita Income $59,022 $69,118

Census 2010 2019 2024 Population by Age Number Percent Number Percent Number Percent

0 - 4 13,675 5.2% 12,606 4.5% 13,214 4.6%5 - 9 10,968 4.2% 12,175 4.4% 11,999 4.1%10 - 14 10,430 4.0% 12,324 4.4% 11,728 4.1%15 - 19 12,718 4.9% 13,258 4.7% 13,189 4.6%20 - 24 18,887 7.2% 18,753 6.7% 18,873 6.5%25 - 34 52,689 20.2% 51,079 18.3% 55,738 19.3%35 - 44 43,761 16.8% 44,287 15.9% 44,266 15.3%45 - 54 36,267 13.9% 37,739 13.5% 37,475 12.9%55 - 64 29,577 11.3% 34,628 12.4% 34,386 11.9%65 - 74 16,895 6.5% 24,697 8.8% 27,437 9.5%75 - 84 10,057 3.9% 12,101 4.3% 15,328 5.3%

85+ 5,127 2.0% 5,656 2.0% 5,887 2.0%Census 2010 2019 2024

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 164,199 62.9% 167,148 59.8% 169,116 58.4%Black Alone 19,904 7.6% 20,621 7.4% 20,782 7.2%American Indian Alone 1,436 0.6% 1,478 0.5% 1,499 0.5%Asian Alone 37,892 14.5% 46,429 16.6% 51,604 17.8%Pacific Islander Alone 573 0.2% 631 0.2% 647 0.2%Some Other Race Alone 23,069 8.8% 25,802 9.2% 27,182 9.4%Two or More Races 13,976 5.4% 17,197 6.2% 18,692 6.5%

Hispanic Origin (Any Race) 57,492 22.0% 65,028 23.3% 70,052 24.2%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024.

March 13, 2020

©2020 Esri Page 1 of 2

Mar Vista is a neighborhood in Los Angeles, California with a population of 34,906. Living in Mar Vista offers residents an urban suburban mix feel and most residents rent their homes. In Mar Vista there are a lot of bars, restaurants, coffee shops, and parks. Many young professionals live in Mar Vista and residents tend to be liberal. The public schools in Mar Vista are above average.

The 2000 U.S. census counted 35,492 residents in the 2.9-square-mile Mar Vista neighborhood—an average of 12,259 people per square mile, about the norm for Los Angeles; in 2008, the city estimated that the population had increased to 37,447. The median age for residents was 35, considered the average for Los Angeles; the percentage of residents aged 19 through 34 was among the county’s highest.

The median home value in Mar Vista is $1,137,230 compared to a national average of $184,700. The median rent is $1,819. 69% of residents rent.

LOCATION & PROJECTED GROWTH THE NUMBERS

DEMOGRAPHICS & INCOME (3 mi. from property)

* Projected

Total Population

201020192024*Projected Growth Rate

Total Households


Average Household Income


Renter Occupied Housing Units


261,050279,306289,5223.5%

118,828126,717131,1303.4%

$130,008$152,51614.7%

71,61279,30082,2673.6%

The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it.


KEY FACTS

277,820Population

39.1

Median Age

2.2

AverageHousehold Size

$95,669Median Household

Income

EDUCATION

6%

No HighSchool

Diploma 9%High School

Graduate

22%Some College 62%

Bachelor's/Grad/ProfDegree

BUSINESS

16,287Total Businesses

147,201Total Employees

EMPLOYMENT

83%White Collar

7%Blue Collar

10%Services

15.0%

UnemploymentRate

INCOME


Income

$62,307Per Capita Income

$75,389Median Net Worth

Households By Income

The largest group: $200,000+ (18.9%)

The smallest group: $15,000 - $24,999 (4.9%)

Indicator ▲ Value Diff <$15,000 7.4% -2.8%$15,000 - $24,999 4.9% -3%$25,000 - $34,999 5% -2.5%$35,000 - $49,999 7.7% -3.2%$50,000 - $74,999 14% -2%$75,000 - $99,999 12.7% +0.3%$100,000 - $149,999 18.8% +2.4%$150,000 - $199,999 10.5% +2.5%$200,000+ 18.9% +8.1%

Bars show deviation from Los Angeles County

Sources: IREA; ESRI Information Services; U.S. Census Bureau of Labor Statistics; Wikipedia; Fortune/Money.CNN.com; Forbes; Business Insider;Moody's; Zillow; Trulia; City of Glendale; Los Angeles County; Los Angeles Times; REIS; California Association of Realtors; DataQuick; Curbed LA; Glendale News-Press; San Fernando Valley Business Journal; Glendale Unified School District; Glendale Community College; ThinkGlendale.com; Los Angeles Times.

Ring of 3 miles

MARKETING PROFILE4270 Lindblade Dr, Los Angeles, California, 90066

ANNUAL LIFESTYLE SPENDING

$3,716Travel

$141Theatre/Op

eras/Concerts

$97SportsEvents

$9OnlineGames

KEY FACTS

277,820Population

39.1

Median Age

2.2

AverageHousehold Size


Income

Age Pyramid

Men Women

82410%

The largest group:

2020 Males Age30-34

The smallest group:

2020 Males Age80-84

Dots show comparison to

Los Angeles County

ANNUAL HOUSEHOLD SPENDING

$3,292Apparel &Services

$262Computers &

Hardware

$5,837Eating Out

$7,859Groceries

$7,493Health Care

EDUCATION

6%

No HighSchool

Diploma 9%High School

Graduate

22%Some College 62%

Bachelor's/Grad/ProfDegree

DEMOGRAPHICS | 23

Demographics

Property Year Built # of Units Rent SF Rent/SF

1 5455 Inglewood 2017 13 $3,450 900 $3.83

5455 Inglewood Blvd $3,795 1200 $3.16

Culver City, CA

2 The Jeremy Apts 1988 41 $3,556 960 $3.70

1920 Sawtelle Blvd $3,813 1103 $3.46


3 Treehouse Lofts 2019 23 $3,195 1000 $3.20

4505 S Slauson Ave


4 Marina Lofts Frame 2015 24 $3,400 1100 $3.09

4044 Redwood Ave


5 Westside Apartments 2003 51 $3,325 1103 $3.01

3165 Sawtelle Blvd


6 4055 Lofts 2006 100 $3,707 1139 $3.25

4055 Redwood Ave

Marina Del Rey, CA 90292

AVERAGES 2008 42 $3,530 1063 $3.34

SUBJECT (AVERAGES) 2015 20 $3,236 950 $3.41

2 Bed/2 Bath

(1 bed/1.5 bath w/loft)

(1 bed/1.5 bath w/loft)

THE INFORMATION PROVIDED HEREIN IS FROM SOURCES WE BELIEVE ARE RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY, WE HAVE NOT VERIFIED IT AND MAKE NO REPRESENTATIONS, GUARANTEES OR WARRANTIES ABOUT IT.

Rent Comparables


Lindblade Lofts

Rent Comps

5455 Inglewood Blvd

1920 Sawtelle Blvd

4505 S Slauson Ave

4044 Redwood Ave

3165 Sawtelle Blvd

4055 Redwood Ave

Untitled layer

4

RENT COMPARABLES | 25

1 - 5455 INGLEWOODCULVER CITY, CA 90230

3 - TREEHOUSE LOFTS 4505 S SLAUSON AVE | LOS ANGELES, CA 90230

2 - THE JEREMY APARTMENTS 1920 SAWTELLE BLVD | LOS ANGELES, CA 90025

5455 Inglewood feature units with

modern, luxurious town home style with

private rooftop decks and unobstructed

views. Units amenities include stainless-

steel appliances, open living design, 17

foot ceilings with large windows and white

subway tiles. Private bathrooms and large

walk-in closets make these units extremely

livable.

The Jeremy Apartments have various

floor plans available to appeal to a broad

range of renter, with patios and balconies

in many units. On-site laundry, garage

access, an elevator, housekeeping, and

on-site maintenance available. Individual

units recently renovated with features such

as granite counter tops, stainless steel

appliances, and carpeted floors.

An excellent unit mix at Treehouse Lofts feature a warm contemporary building. All units have private outdoor space, full size en suite washer/dryer, custom European cabinetry, eco friendly appliances, quartz countertops, and soaking tubs.

YEAR BUILT2017

UNITS13

UNIT MIX2 BED/2 BATH$3,550 | 900 SF | $3.94 SF$3,695 | 1200 SF | $3.08 SF

YEAR BUILT1988

UNITS41

UNIT MIX1 BED/1.5 BATH + LOFT$3,556 | 960 SF | $3.70 SF$3,813 | 1103 SF | $3.46 SF

YEAR BUILT2019

UNITS23

UNIT MIX1 BED/1.5 BATH + LOFT$3,495 | 1000 SF | $3.50/SF


RENT COMPARABLES | 27

4 - MARINA LOFTS FRAME4044 REDWOOD AVE | LOS ANGELES, CA 90066

6 - 4055 LOFTS 4055 REDWOOD AVE | MARINA DEL REY, CA 90292

5 - WESTSIDE APARTMENTS 3165 SAWTELLE BLVD | LOS ANGELES, CA 90066

Marina Lofts Frame feature amenities

including a rooftop deck with panoramic

views, low noise technology, secured

building, and 24 hour maintenance.

Individual units enjoy stained white oak

engineered wood floors, washers and

dryers in every residence, 9-19 foot ceilings

with sliding glass doors, European style

cabinetry with custom stone counter tops

and stainless steel appliances.

Westside Apartments are moments away

from the city’s best restaurants and Venice

and Santa Monica beaches. Amenities on

site include heated pool, outdoor fireplace,

and fitness center. Washer and dryer in-

house, extra storage available, dry cleaning

locker service, parking garage, gated

community, and elevator.

4055 Lofts appeal to a broad range of renter with plank-style flooring, coordinated carpet, stainless steel, energy-efficient appliance package. Marble counter tops in baths, granite kitchen counter tops and modern maple cabinetry. Complex features pool and spa, outdoor fireplace, rooftop fitness center with panoramic views.

YEAR BUILT2015

UNITS24

UNIT MIX

2 BED/2 BATH$3,895 | 1220 SF| $3.19 SF

YEAR BUILT2003

UNITS51

UNIT MIX

2 BED/2 BATH$3,684| 1104 SF | $3.34 SF

YEAR BUILT2006

UNITS100

UNIT MIX

2 BED/2 BATH$4,000 | 1139 SF| $3.51 SF

RENT COMPARABLES

Sales Comparables

PropertyYear Built

Sales Price # of Units

Price/Unit Gross SF

Avg Gross SF/Unit

Price/SF CAP Rate

GRM COE

1 5955 Saturn St 2018 $19,200,000 29 $662,069 35,040 1,208 $548 2.00% 20.50 12/18/20


2 321-327 S Elm Dr 2017 $35,800,000 30 $1,193,333 64,911 2,164 $552 12/03/20


3 1522 S Orange Grove Ave 2019 $12,400,000 17 $729,412 24,307 1,430 $510 01/29/20


4 3667 Mentone Ave 2019 $7,500,000 10 $750,000 12,800 1,280 $586 3.95% 17.40 10/08/19


5 8736 Venice Blvd 2016 $5,881,500 8 $735,188 10,733 1,342 $548 08/15/19


6 11048 W Olympic Blvd 2017 $6,500,000 8 $812,500 13,234 1,654 $491 3.97% 08/02/18


SALE AVERAGES 2018 $14,546,917 17 $813,750 26,838 1,513 $539 3.31% 18.95

SUBJECT 2015 $13,400,000 20 $670,000 20,924 1,046 $640 3.72% 17.84


Lindblade March Sales

Untitled layer

5955 Saturn St

321 S Elm Dr

1522 S Orange Grove Ave

3667 Mentone Ave

8736 Venice Blvd

11048 W Olympic Blvd

SALES COMPARABLES | 29

1 - 5955 SATURN STLOS ANGELES, CA 90019

The property is beautifully landscaped. Community amenities include a parking garage beneath the building, an elevator, recreation room, and a landscaped courtyard. 5955 Saturn Street unit amenities are richly appointed with high-end finishes, and include: Fully-equipped kitchens with tiled backsplash, and plenty of cabinet and counter space; High-end cabinetry, fabricated quartz countertops, and stainless-steel appliancesFull-size bathrooms with tub and shower.

SALE DATE SALE PRICE YEAR BUILT UNITSDEC 18, 2020 $19,200,000 2018 29

SALES COMPARABLES

2 - 321-327 S ELM DRLOS ANGELES, CA 90212

321-327 S Elm Drive is a new development of luxury residences in the heart of Beverly Hills.The beautiful high-end finishes and features include Bertazzoni Italian stoves, Miele dishwashers, Porcelanosa fixtures and tile, Poliform custom Italian cabinets, Fleetwood doors, Nest learning thermostats, privacy shades, washer a dryer in each unit, water filtration system, USB outlets in every room, large private outdoor space.


3 - 1522 S ORANGE GROVE AVELOS ANGELES, CA 90019

2019 construction luxury multi-family offering in one of L.A.’s hottest neighborhoods. 1st floor units have immense private patios, 3rd floor units feature sweeping views of Century City to west and Downtown to the east. Gated subterranean parking for 34 cars - 2 per unit - garage also has 2 electric car charging stations & bicycle room. Gated subterranean parking for 34 cars - 2 per unit - garage also has 2 electric car charging stations & bicycle room.

SALE DATE SALE PRICE YEAR BUILT UNITSJAN 29, 2020 $12,400,000 2019 17



THE INFORMATION PROVIDED HEREIN IS FROM SOURCES WE BELIEVE ARE RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY, WE HAVE NOT VERIFIED IT AND MAKE NO REPRESENTATIONS, GUARANTEES OR WARRANTIES ABOUT IT. SALES COMPARABLES | 31


SALE DATE SALE PRICE YEAR BUILT UNITSJAN 29, 2020 $12,400,000 2019 17

6 - 11048 W OLYMPIC BLVDLOS ANGELES, CA 90064

The Olympic Apartments at 11048 W Olympic Blvd feature balconies, elevators, in unit laundry, and garage parking. Constructed in 2017, the building has separately metered gas and electric, individual water heaters for each unit, and security cameras, copper plumbing and fire sprinklers. Units feature hardwood flooring, 10-foot ceilings, quartz counter tops, and large balconies.

SALE DATE SALE PRICE YEAR BUILT UNITSAUG 2, 2018 $6,500,000 2017 8

4 - 3667 MENTONE AVELOS ANGELES, CA 90034

Brand new 2019 construction offers townhome style units with top of the line amenities. Building features private roof decks. Units boast 17 foot ceilings with large windows, open living space design, and European style cabinets and white subway tiles.

SALE DATE SALE PRICE YEAR BUILT UNITSOCT 8, 2019 $7,500,000 2019 10

THE INFORMATION PROVIDED HEREIN IS FROM SOURCES WE BELIEVE ARE RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY, WE HAVE NOT VERIFIED IT AND MAKE NO REPRESENTATIONS, GUARANTEES OR WARRANTIES ABOUT IT. SALES COMPARABLES | 33

SALES COMPARABLES

5 - 8736 VENICE BLVDLOS ANGELES, CA 90034

All units have modern features including: open floor plans, high ceilings, recessed LED lighting, frameless windows, stainless steel appliances, washer/dryers, central air and heat, large outdoor space, and tons of parking. The upper units have amazing city views, as well. All utilities are individually metered except the water is every two units.

SALE DATE SALE PRICE YEAR BUILT UNITSAUG 15, 2019 $5,881,500 2016 8

THE INFORMATION PROVIDED HEREIN IS FROM SOURCES WE BELIEVE ARE RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY, WE HAVE NOT VERIFIED IT AND MAKE NO REPRESENTATIONS, GUARANTEES OR WARRANTIES ABOUT IT.

Financials

Price: $13,400,000 # of Units Unit Type Avg Rent Income Avg Rent Income Taxes: 1.2% of Price $160,800

Down Payment: $13,400,000 1 1+1 w/loft TwnHome $3,300 $3,300 $3,650 $3,650 Insurance: $.35 per SF $7,323

Down Payment %: 100% 1 1+1.5 w/loft TwnHome (LI) $986 $986 $986 $986 Utilities: Actual $19,734

CAP Current: 3.72% 18 1+1.5 w/loft TwnHome $3,236 $58,250 $3,565 $64,170 Telephone: Actual $2,700

GRM Current: 17.84 SCEP Fees: $72 $72 Repairs & Maintenance: $400 per unit $8,000

CAP Market: 4.26% Total Rental Income: $62,536 $68,806 Gardener: Actual $1,440

GRM Market: 16.21 Total Monthly Income: $62,608 $68,878 Elevator: Actual $900

Cost Per Sq. Ft.: $640 Trash: Actual $7,132

Cost Per Unit: $670,000 On-Site Management: $400 per unit $8,000

Expenses Per Unit: $11,530 *Off-Site Management: 2% of GOI $14,575

Expenses Per Sq Ft: $11.02* Quote from Drake Real Estate Group

Total Expenses: $230,604

PROPERTY ABSTRACT

Units: 20 Scheduled Gross Income: $751,298 $826,538

Year Built: 2015 Less Vacancy: 3.0% ($22,539) 3.0% ($24,796)

Lot Sq Ft: 13,154 Gross Operating Income: $728,759 $801,742

Building Gross Sq Ft: 20,924 Less Expenses: 31.6% ($230,604) 28.8% ($230,604)

Parking Spaces: 20 Net Operating Income: $498,155 $571,138

Less Loan Payments:

Pre-Tax Cash Flow: $498,155 $571,138

Cash on Cash Return: 3.72% 4.26%

ESTIMATED ANNUALIZED EXPENSES

LOAN QUOTE AVAILABLE UPON REQUEST

FINANCIAL INDICATORS SOURCE OF INCOME CURRENT MARKET

ESTIMATED ANNUALIZED OPERATING DATA: MARKETCURRENT

Financials


FINANCIALS | 35

Expenses

Price: $13,400,000 # of Units Unit Type Avg Rent Income Avg Rent Income Taxes: 1.2% of Price $160,800

Down Payment: $13,400,000 1 1+1 w/loft TwnHome $3,300 $3,300 $3,650 $3,650 Insurance: $.35 per SF $7,323

Down Payment %: 100% 1 1+1.5 w/loft TwnHome (LI) $986 $986 $986 $986 Utilities: Actual $19,734

CAP Current: 3.72% 18 1+1.5 w/loft TwnHome $3,236 $58,250 $3,565 $64,170 Telephone: Actual $2,700

GRM Current: 17.84 SCEP Fees: $72 $72 Repairs & Maintenance: $400 per unit $8,000

CAP Market: 4.26% Total Rental Income: $62,536 $68,806 Gardener: Actual $1,440

GRM Market: 16.21 Total Monthly Income: $62,608 $68,878 Elevator: Actual $900

Cost Per Sq. Ft.: $640 Trash: Actual $7,132

Cost Per Unit: $670,000 On-Site Management: $400 per unit $8,000

Expenses Per Unit: $11,530 *Off-Site Management: 2% of GOI $14,575

Expenses Per Sq Ft: $11.02* Quote from Drake Real Estate Group

Total Expenses: $230,604

PROPERTY ABSTRACT

Units: 20 Scheduled Gross Income: $751,298 $826,538

Year Built: 2015 Less Vacancy: 3.0% ($22,539) 3.0% ($24,796)

Lot Sq Ft: 13,154 Gross Operating Income: $728,759 $801,742

Building Gross Sq Ft: 20,924 Less Expenses: 31.6% ($230,604) 28.8% ($230,604)

Parking Spaces: 20 Net Operating Income: $498,155 $571,138

Less Loan Payments:

Pre-Tax Cash Flow: $498,155 $571,138

Cash on Cash Return: 3.72% 4.26%

ESTIMATED ANNUALIZED EXPENSES

LOAN QUOTE AVAILABLE UPON REQUEST

FINANCIAL INDICATORS SOURCE OF INCOME CURRENT MARKET

ESTIMATED ANNUALIZED OPERATING DATA: MARKETCURRENT

CURRENT MARKET

UNIT UNIT TYPE SF RENT RENT

1 1 Bed/1.5 Bath w/Loft 995 $3,550 $3,5502 1 Bed/1.5 Bath w/Loft 896 $3,250 $3,550

3 (MGR) 1 Bed/1.5 Bath w/Loft 897 $3,050 $3,5504* 1 Bed/1.5 Bath w/Loft 895 $3,200 $3,5505 1 Bed/1.5 Bath w/Loft 870 $3,150 $3,5506 1 Bed/1.5 Bath w/Loft 876 $2,900 $3,5507 1 Bed/1.5 Bath w/Loft 1005 $3,300 $3,6508 1 Bed/1.5 Bath w/Loft 871 $3,150 $3,5509 1 Bed/1.5 Bath w/Loft 871 $3,150 $3,55010 1 Bed/1 Bath w/Loft 1188 $3,300 $3,65011 1 Bed/1.5 Bath w/Loft 848 $3,500 $3,55012 1 Bed/1.5 Bath w/Loft 896 $3,150 $3,55013 1 Bed/1.5 Bath w/Loft 896 $3,250 $3,55014 1 Bed/1.5 Bath w/Loft 896 $3,400 $3,55015 1 Bed/1.5 Bath w/Loft 896 $3,150 $3,55016 1 Bed/1.5 Bath w/Loft 896 $3,200 $3,55017* 1 Bed/1.5 Bath w/Loft 896 $3,200 $3,55018 1 Bed/1.5 Bath w/Loft 895 $3,250 $3,550

19** 1 Bed/1.5 Bath w/Loft 858 $986 $98620 1 Bed/1.5 Bath w/Loft 1253 $3,450 $3,700

* Rent as of 11/1/21** Low Income and rent

as of 11/1/21 Monthly Rent: $62,536 $68,786

Annual Rent: $750,432 $825,432


Rent Roll

RENT ROLL | 37

16501 Ventura Blvd. Suite 448Encino, CA 91436Phone: 818.386.6888Fax: 818.386.2805

www.irea.com

David LeibowitzPartner(818) [email protected]

david leibowitz partner

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