CORNING 6 PROPERTY HIGHLIGHTS S Corning St Los Angeles, CA 90034

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1 2051 S Corning St Los Angeles, CA For more information contact: Casey Lins Associate Partner casey@rcre.co PROPERTY HIGHLIGHTS MIX: 5 LARGE 3 BEDROOM UNITS AND 1 STUDIO - EXCELLENT FOR MILLENNIALS IN NEED OF HOUSING! LOCATION: NEAR CULVER CITY / EXPO LINE / BEVERLY HILLS! YIELD: POTENTIAL TO REACH 6%+ CAP WITH REHAB! FEATURES: SEISMIC RETROFIT COMPLETE! BOTTOM LINE: EXCELLENT REPOSITION, VALUE-ADD OPPORTUNITY! Phone: Fax: W Manchester Ave Los Angeles, CA

2 Table of Contents Property Overview Property Description Maps and Aerials Investment Details Executive Summary Pro Forma Summary Comparable Sales Sale Comparables COMPARABLE RENTS 3 Bedroom - Rental Comps ABOUT US & OUR MARKETING Professional Bio

3 S E C T I O N I P r o p e r t y O v e r v i e w

4 PROPERTY DESCRIPTION, and Casey Lins, of the RCRE Team at RE/MAX Estate Properties are proud to present CORNING 6! This asset is located on 2051 S. Corning Street, Los Angeles, CA 90034, just off Cadillac, between Robertson and La Cienega, between the submarkets of Pico Robertson and the Culver Arts District. This rental pocket is the midst of a fantastic urban renewal as tenants and landlords alike respond to the demand for quality housing in this well situated Westside Locale. This true value-added opportunity is a 6 unit apartment consisting of 5 (3 bedroom, 2 bath) units and 1 studio, comprising 6448 SF, per assessor, buyer to verify. With the greatest demand for apartment units coming from young millennials, larger 3 bedroom units have become one of the most sought out unit mixes for renters as shared housing offers greater overall economy. For astute investors, renovating units, adding bathrooms and basic amenities like internet provide an opportunity to drive rents well beyond the market rate expectation! This property is situated on a 6307 SF lot that is zoned LAR3. There is alley access to gated parking. The required seismic retrofit has been completed! In total, based on recent sales, current available properties, and the special features this property has, this asset presents a unique and compelling value at the listing price! Please contact the Listing Agent for additional details.

5 MAPS AND AERIALS

6 S E C T I O N I I I n v e s t m e n t D e t a i l s

7 EXECUTIVE SUMMARY Acquisition Costs Purchase Price, Points and Closing Costs $2,275,000 Investment - Cash $910,000 First Loan $1,365,000 Investment Information Purchase Price $2,275,000 Price per Unit $379,167 Price per Sq. Ft. $ Income per Unit $25,118 Expenses per Unit ($9,708) Income, Expenses & Cash Flow Gross Scheduled Income $150,708 Total Vacancy and Credits $0 Operating Expenses ($58,245) Net Operating Income $92,463 Debt Service ($82,995) Cash Flow Before Taxes $9,468 Financial Indicators Cash on Cash Return Before Taxes 1.04% Debt Coverage Ratio 1.11 Capitalization Rate 4.06% Gross Rent Multiplier Gross Income / Square Feet $23.37 Gross Expenses / Square Feet ($9.03) Operating Expense Ratio 38.65%

8 PRO FORMA SUMMARY INVESTMENT SUMMARY Price: $2,275,000 Year Built: 1960 Units: 6 Price/Unit: $379,167 RSF: 6,448 Price/RSF: $ Lot Size: 6,307 sf Floors: 2 APN: Cap Rate: 4.06% Market Cap Rate: 6.17% GRM: 15.1 Market GRM: FINANCING SUMMARY Loan Amount: $1,365,000 Down Payment: $910,000 Loan Type: Fixed Interest Rate: 4.5% Term: 30 years Monthly Payment: $6,916 DCR: 1.11 UNIT MIX & MONTHLY SCHEDULED Type Units Actual Total Market Total as of Oct. 1 $2,447 $2,447 $3,200 $3, as of Oct. 1 $2,602 $2,602 $3,200 $3, vacant 1 $1,400 $1,400 $1,300 $1, section 8 1 $1,764 $1,764 $3,200 $3, $2,195 $2,195 $3,200 $3, $2,101 $2,101 $3,200 $3,200 TOTALS 6 $12,509 $17,300 ANNUALIZED INCOME Description Actual Market Gross Potential Rent $150,108 $207,600 Less: Vacancy $0 ($6,228) Misc. Income $600 $0 Effective Gross Income $150,708 $201,372 Less: Expenses ($58,245) ($61,090) Net Operating Income $92,463 $140,282 Debt Service ($82,995) ($82,995) Net Cash Flow after Debt Service $9,468 $57,287 Principal Reduction $22,021 $22,021 Total Return $31,488 $79,307 ANNUALIZED EXPENSES Description Actual Market Property Management Fee $7,535 $10,380 Building Insurance $2,400 $2,400 Grounds Maintenance $960 $960 Legal $1,200 $1,200 Maintenance & Repairs $6,000 $6,000 Reserves $1,800 $1,800 Taxes - Real Estate $28,750 $28,750 Trash Removal $3,600 $3,600 Utilities $6,000 $6,000 Total Expenses $58,245 $61,090 Expenses Per RSF $9.03 $9.47 Expenses Per Unit $9,708 $10,182

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10 SALE COMPARABLES 8% Cap Rate 24.0 Gross Rent Multiplier 7% % 5% Avg % 3% Avg % 6.0 1% 3.0 Subject Subject $384,000 Price per Unit $504 Price per Sq. Ft. $336,000 $288,000 Avg. $312,773 $441 $378 Avg. $ $240,000 $315 $192,000 $252 $144,000 $189 $96,000 $126 $48,000 $63 Subject Subject

11 SALE COMPARABLES S 2051 S Corning St Los Angeles, CA Sale Price $2,275,000 Units 6 Price/Unit $379,167 Price/SqFt $ Cap Rate 4.06% Year Built 1960 GRM 15.1 # Units Unit Type as of Oct as of Oct vacant section Sale Date 5/4/2017 NOTES Superior location. Proforma GRM Palms Blvd Palms Blvd Los Angeles, CA Sale Price $1,465,000 Units 5 Price/Unit $293,000 Price/SqFt $ Cap Rate 3.98% Year Built 1949 GRM 16.3 # Units Unit Type 5 Two Bedroom One Bath 2 Sale Date 6/8/2017 NOTES Superior location. Proforma GRM Empire Dr 3636 Empire Dr Los Angeles, CA Sale Price $1,530,000 Units 5 Price/Unit $306,000 Price/SqFt $ Cap Rate 4.02% Year Built 1966 GRM 16.4 # Units Unit Type 1 Studio/Efficiency 3 One Bedroom One Bath 1 Two Bedroom Two Bath

12 SALE COMPARABLES Bagley Ave 3615 Bagley Ave Los Angeles, CA Sale Date 1/20/2017 NOTES Superior location. Earthquake retrofit needed. Proforma 11GRM. Sale Price $2,550,000 Units 8 Price/Unit $318,750 Price/SqFt $ Cap Rate 4.38% Year Built 1965 GRM 14.8 # Units Unit Type 2 One Bedroom One Bath 2 Two Bedroom One Bath 3 Three Bedroom Two Bath 1 Studio/Efficiency Vinton Ave 3431 Vinton Ave Los Angeles, CA Sale Date 1/6/2017 NOTES Superior location. Earthquake retrofit needed. Proforma 12.2 GRM. Sale Price $2,690,000 Units 9 Price/Unit $298,889 Price/SqFt $ Cap Rate 4.0% Year Built 1964 GRM 16.2 # Units Unit Type 1 Studio/Efficiency 4 One Bedroom One Bath 2 Two Bedroom One Bath 2 Two Bedroom Two Bath 5 Sale Date 6/15/2017 NOTES Earthquake retrofit needed. Rents are estimated Ernest Ave 5831 Ernest Ave Los Angeles, CA Sale Price $1,750,000 Units 5 Price/Unit $350,000 Price/SqFt $ Cap Rate 3.67% Year Built 1952 GRM 17.7 # Units Unit Type 2 One Bedroom One Bath 3 Two Bedroom One Bath

13 SALE COMPARABLES 6 Sale Date 6/1/2018 NOTES Needs earthquake retrofitting, cost expected to be $80k S Garth Ave 1975 S Garth Ave Los Angeles, CA Sale Price $1,860,000 Units 6 Price/Unit $310,000 Price/SqFt $ Cap Rate 3.91% Year Built 1962 GRM 16.6 # Units Unit Type 5 Three Bedroom Two Bath 1 Studio/Efficiency

14 SALE COMPARABLES S 2051 S Corning St Los Angeles, CA, $2,275, Palms Blvd Los Angeles, CA, $1,465, Empire Dr Los Angeles, CA, $1,530, Bagley Ave Los Angeles, CA, $2,550, S Garth Ave Los Angeles, CA, $1,860, Vinton Ave Los Angeles, CA, $2,690, Ernest Ave Los Angeles, CA, $1,750,000

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16 3 BEDROOM - RENTAL COMPS 3122 S CANFIELD AVE #203 3 Baths ,450/AS Lease LOS ANGELES, CA Beds (3F 0T 0H 0Q) Sqft SP $3,200 Area Subdivision Sold Price/SqFt $2.21 Lot Size SFR or Condo/Apt Furnished Sold 9 Beverlywood Vicinity 8,005/AS CA No MLS# APN Directions: North of National Blvd, South of Cattaraugus, East of Castle Heights Ave, West of Robertson Blvd Remarks: Entertainers Dream Penthouse with views of Century City, Hollywood Hills, Hollywood Sign & Griffith Observatory. Enter into a two-story open space with illuminating windows and expansive living room & dining area with cozy fireplace, soaring ceilings, and oversized windows with panoramic views. Kitchen with tile counter tops, new flooring and plenty of cabinets & windows with great views. Two bedrooms on opposite sides -each with their own spacious bathroom - including a master suite with large walk-in closet, cabinets, nice large bathroom & private balcony. Staircase leading up to a loft/3rd bedroom with a large closet and bathroom, private patio with gorgeous 180 degree views. Gated garage with 2 parking spaces. Lease Terms Security Deposit $3,495 Available Date Credit Report Amount Credit Report Req. Lease Terms Lease Length Month to Month Deposit Garage Deposit Key Deposit Other Deposit Pet Tenant Pays 1+Year, 1-Year Cable TV, Electric, Gas Structure Info Year Built/Source 1990 Stories 2 Attached/Detached Building Type Unit Floor # Style View # in Complex Unit Location Exposure Guest House Condominium Contemporary City Lights, Hills, Mountains, Panoramic None Contract Info DOM 84 List Date List Price $3,495 Orig List Price $3,495 Status Date For Sale Lease Option No Yes Community/Development Pets Allowed/Rules Call Assoc Amenities Elevator, Gated Parking Community Features Highrise Amenities Parking Details Parking Type Attached, Garage - 2 Car Total Spaces 2 Covered Spaces 2 Uncovered Spaces Garage Spaces Carport Spaces Sale/Sold Info Contract Date Sold Date Sold Price $3,200 Sold Price/SqFt $2.21 Sale Terms SP/LP 91.56% Interior Features # Fireplaces/Details 1/Living Room AC/Cooling Heating Equip/Appl Flooring Levels Central Central Garbage Disposal, Range/Oven Carpet, Tile, Vinyl Exterior Features Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. MLSPLUS Copyright 2018 by TheMLS. Information deemed reliable but not guaranteed. Presented by: Casey Lins CalBRE# Pool Spa Tennis/Courts Patio Laundry No Laundry Area

17 3 BEDROOM - RENTAL COMPS 3122 S CANFIELD AVE #201 3 Baths ,300/OW Lease LOS ANGELES, CA Beds (3F 0T 0H 0Q) Sqft SP $3,400 Area Subdivision Sold Price/SqFt $2.62 Lot Size SFR or Condo/Apt Furnished Sold 9 Beverlywood Vicinity 8,005/AS CA No MLS# APN Directions: South of Pico Blvd, West of Robertson Blvd, East of Beverly Drive, North of National Blvd, South of Beverlywood Street, East of Castle Heights Ave Remarks: Entertainers Dream Penthouse with views of Century City, Hollywood Hills, Hollywood Sign & Griffith Observatory. Enter into a two-story open space with illuminating windows and expansive living room & dining area with cozy fireplace, soaring ceilings, and oversized windows with panoramic views. Kitchen with tile counter tops, new flooring and plenty of cabinets & windows with great views. Two bedrooms on opposite sides -each with their own spacious bathroom - including a master suite with large walk-in closet, cabinets, nice large bathroom & private balcony. Spiral staircase leading up to a loft / 3rd bedroom with a large closet and bathroom, private patio with gorgeous 180 degree views. Large laundry room with dual washer and dryer on the same floor with large views and amazing views. Gated garage with 2 parking spaces. Desirable location with close proximity to great schools, metro station, Culver City, Beverlywood and Pico-Robertson area and freeways. Enjoy the Culver City Lifestyle Lease Terms Security Deposit $6,000 Available Date Credit Report Amount Credit Report Req. Lease Terms Lease Length Month to Month Deposit Garage Deposit Key Deposit Other Deposit Pet Tenant Pays 1+Year, 1-Year, Month-to- Month Cable TV, Electric, Gas Structure Info Year Built/Source 1990 Stories 2 Attached/Detached Building Type Unit Floor # Style View # in Complex Unit Location Exposure Guest House Low Rise Contemporary City Lights, Mountains, Panoramic, Tree Top None Contract Info DOM 10 List Date List Price $3,400 Orig List Price $3,400 Status Date For Sale Lease Option No No Community/Development Pets Allowed/Rules Yes Assoc Amenities None Community Features Highrise Amenities Parking Details Parking Type Total Spaces 2 Covered Spaces 2 Uncovered Spaces Garage Spaces Carport Spaces Assigned, Attached, Community Garage, Door Opener, Tandem Sale/Sold Info Contract Date Sold Date Sold Price $3,400 Sold Price/SqFt $2.62 Sale Terms SP/LP % Interior Features # Fireplaces/Details 1/Living Room AC/Cooling Heating Equip/Appl Flooring Levels Central Central Dishwasher, Garbage Disposal, Hood Fan, Refrigerator Carpet, Tile, Vinyl Exterior Features Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. MLSPLUS Copyright 2018 by TheMLS. Information deemed reliable but not guaranteed. Presented by: Casey Lins CalBRE# Pool Spa Tennis/Courts Patio Laundry No Laundry Area

18 S E C T I O N V A B O U T U S & O U R

19 PROFESSIONAL BIO is Managing Director of RCRE, an investment broker team at RE/MAX Commercial, specializing in multifamily real estate on the Westside and South Bay. HISTORY Scott s path to his success includes unlikely work experience than that of the typical commercial broker, but it is his unique background and skills that have contributed to his outsized success and loyal clientele. With a Master s degree and a Teaching Credential from UCSB, Scott brought his knowledge, creative tenacity and his small town work ethic to his first career in education where he became a leader in using the arts to connect content with projects. In 2003 Scott entered the world of real estate as an investor and builder in the booming housing market where he built and sold custom homes for two years. The hands on skill in building and with real world experience as an investor / developer paired remarkably well with his educational background when Scott entered the world if investment real estate brokerage. In 2005, Scott joined Marcus & Millichap specializing in Multi-family housing, quickly becoming one of the top selling agents among his peers. In 2007, he partnered with RE/MAX Commercial, where his sales achievement continued to consistently earn prestigious sales achievement awards to include Chairman Club, Platinum Club, Hall of Fame, top 20 among over 700 agents locally, #5 Team Internationally and #1 Team in California. With the formation of the RCRE Team, Scott more fully integrated his client centered process with a team of productive agents that apply the best technology with his professional and personal approach to business. Today, Scott s team is not only productive and respected in the investment real estate community but is also one of the most established on the Westside. PERSONAL Scott s commitment to his business is surpassed only by his dedication to his family. Scott lives in Palos Verdes Estates with his wife Jennifer and his three children, Adam, Chloe and Poppy. Outside of work, Scott s energy and enthusiasm is consumed by competitive cycling, improving property and spending time with his family. BOTTOM LINE With over 10 years of experience, hundreds of millions in sales, and the energy of an Olympian, Scott can do what few can; deliver better results, by doing better work.