3153 BARBARA COURT > OFFERING MEMORANDUM. Team Ghobadi Real Estate Investment Services P: +1 (818)

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> OFFERING MEMORANDUM 3153 BARBARA COURT LOS ANGELES, CALIFORNIA 90068 Team

1 > OFFERING MEMORANDUM 3153 BARBARA COURT LOS ANGELES, CALIFORNIA Team Ghobadi Real Estate Investment Services P: +1 (818)

3153 BARBARA COURT LOS ANGELES, CA 90068.

2 3153 BARBARA COURT LOS ANGELES, CA DEMOGRPAHIC ANALYSIS...24

3 3153 BARBARA COURT > Offering Memorandum

PROPERTY INFORMATION Colliers International s Ghobadi Multifamily Team is proud to present A well-appointed 18-unit apartment community at 3153 Barbara Court in Los Angeles/Hollywood Hills,

4 PROPERTY INFORMATION Colliers International s Ghobadi Multifamily Team is proud to present A well-appointed 18-unit apartment community at 3153 Barbara Court in Los Angeles/Hollywood Hills, California. The property is comprised of One 2-bed and 2 ¹/² bath unit, Five 2-bed/2-bath units, and Twelve 1-bed/1-bath units. Many of the units, including the larger 2-bedroom unit offer with great hillside views, private washer and dryer, two private entrances, a private garage and hardwood floors. All 2-bedroom units are two stories. Together these apartments come to about 18,689 square feet of rentable space on 33,203 square feet of land. The property also includes ample amenities for residents, including a beautifully landscaped courtyard, a sparkling pool with a great view, a gated and secured parking area with 18 private garages, a large maintenance storage facility and onsite laundry facilities for those without private machines. The rent-controlled complex, which was built in 1950, has been well maintained throughout the years. Located on a nice, quiet street in the Hollywood Hills, the property sits mere minutes away from the world famous Universal Studios Hollywood film studio and theme park and within easy access of the 101 Hollywood Freeway. The property s prime location, coupled with clear upside potential, make it a fantastic investment opportunity. Address PROPERTY HIGHLIGHTS Year Built 1950 Number of Units Barbara Ct. Los Angeles, CA Subject to Soft Story Retrofit No Building Area 18,689 SF Land Area 33,203 SF Zoning LARD1.5 APN Roof Pitched Number of Stories 2 Number of Parking Spaces 18 Private Garages Laundry Facility Yes (Owned) 4

PROPERTY INFORMATION KEY HIGHLIGHTS > Excellent Hollywood Hills location with great view > Minutes away from the world famous Universal Studios Hollywood and theme park > Rent control Built 1950 >

5 PROPERTY INFORMATION KEY HIGHLIGHTS > Excellent Hollywood Hills location with great view > Minutes away from the world famous Universal Studios Hollywood and theme park > Rent control Built 1950 > Excellent Mix of spacious 1 & 2-bedroom units > One large 2-bedroom & 2 ¹/² bathrooms: Two stories, first floor 2-bedrooms & 2-bathrooms, second floor is huge living space with great view and a bathroom, central AC/ Heat, private washer & dryer, private garage and beautifully landscaped yard, two private entrances. Owner used to live in this unit and currently vacant > Five other spacious two bedrooms and two bathrooms (2-stories): all with private washer and dryer, hardwood floors, two private entrances > Twelve spacious one bedroom & one bathroom: hardwood floors, two private entrances > Onsite laundry facilities: dryers and washers owned by the landlord > Huge storage facility > Sparkling pool with great view > Beautifully landscaped courtyard > Gated and secured parking area with 18 private garages > All units with two main entrances. One opens to the street and one opens to the courtyard > Security cameras > Great upside potential > Easy access to 101 freeway 5

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14 3153 BARBARA COURT > Offering Memorandum

15 INVESTMENT SUMMARY Annualized Income Investment Summary Price $6,695,000 Down Payment 45% $3,012,750 Year Built 1950 Units 18 Price/Unit $371,944 RSF 18,689 Price/RSF $ Lot Size 33,203 APN Zoning LARD1.5 CAP Rate 4.10% GRM Proforma CAP Rate 5.08% Proforma GRM Financing Summary Loan Amount 55% $3,682,250 Down Payment 45% $3,012,750 Loan Type Fixed Interest Rate 4.75% Term 5 Years Monthly Payment $19, Debt Coverage Ratio 1.19 Actual % Actual Proforma % Pro Forma Gross Potential Rent $424,356 $494,400 Misc. Income $3,000 $3,000 Gross Potential Income $427,356 $497,400 Less Economic Vacancy -2.00% -$8, % -$9,888 Effective Gross Income $418,869 $487,512 Less Expenses 34.47% $144, % $147,144 Net Operating Income: $274,471 $340,368 Less Debt Service $230,500 $230,500 Net Cash Flow After Debt Service 1.46% $43, % $109,868 Annualized Expenses Actual % Actual Proforma % Pro Forma Real Estate Taxes 19.98% $83, % $83,688 Insurance 1.78% $7, % $7,476 Gas 0.30% $1, % $1,260 Electric & Water (DWP) 3.12% $13, % $13,050 On-Site Manager 1.43% $6, % $6,000 Professional Management 4.00% $16, % $19,500 Repairs & Maintenance 2.15% $9, % $9,000 Pest Control 0.17% $ % $720 Pool 0.29% $1, % $1,200 Trash 0.64% $2, % $2,700 Landscaping 0.29% $1, % $1,200 License Fees & Taxes 0.32% $1, % $1,350 Total Expenses 34.47% $144, % $147,144 Expenses Per RSF $7.73 $7.87 Expenses Per Unit $8,022 $8,175 15

RENT ROLL Unit # Unit Type Notes Unit SF Actual Pro Forma 3200 Dos Palos Dr. 2+2 1/2 $3,800 $3,800 3202 Dos Palos Dr. 2+2 1857 $2,800 3204 Dos Palos Dr. 2+2 $2,380 $2,800 3206 Dos Palos Dr.

16 RENT ROLL Unit # Unit Type Notes Unit SF Actual Pro Forma 3200 Dos Palos Dr /2 $3,800 $3, Dos Palos Dr $2, Dos Palos Dr. 2+2 $2,380 $2, Dos Palos Dr. 2+2 $2,469 $2, Dos Palos Dr. 2+2 $2545 $2, Dos Palos Dr. 2+2 $2,697 $2, Barbara Ct. #A 1+1 $1,485 $1, Barbara Ct. #B 1+1 $1,565 $1, Barbara Ct. #C 1+1 $1,367 $1, Babara Ct. #D 1+1 $1423 $1, Barbara Ct. #A 1+1 $1,581 $1, Barbara Ct. #B 1+1 $1573 $1, Barbara Ct. #C 1+1 $1,384 $1, Barbara Ct. #D 1+1 $1,950 $1, Barbara Ct. #A 1+1 $1950 $1, Barbara Ct. #B 1+1 Vacant $1,950 $1, Babara Ct. #C 1+1 Vacant $1,950 $1, Barbara Ct. #D 1+1 $1,437 $1, TOTAL 18,689 35,363 41,200 Gross Scheduled Monthly Rental Income $35,363 $41,200 Gross Scheduled Annual Rental Income $424,356 $494,400 Monthly Laundry Income $250 $250 Annual Laundry Income $3,000 $3,000 TOTAL YEARLY SCHEDULED INCOME $427,356 $497,400 16

EXPENSES Current Per SF Per Unit Pro Forma Per SF Per Unit Current Real Estate Taxes $83,688 $4.48 $4,649 $83,688 $4.48 $4,649 Tax Rate based on new value/price Insurance $7,476 $0.40 $415 $7,476 $0.

17 EXPENSES Current Per SF Per Unit Pro Forma Per SF Per Unit Current Real Estate Taxes $83,688 $4.48 $4,649 $83,688 $4.48 $4,649 Tax Rate based on new value/price Insurance $7,476 $0.40 $415 $7,476 $0.40 $415 Estimated at $0.40 / SF Gas $1,260 $0.07 $70 $1,260 $0.07 $70 Estimated at $105 / Month Electric & Water (DWP) $13,050 $0.70 $725 $13,050 $0.70 $725 Estimated at $1,088 / Month On-Site Manager $6,000 $0.32 $333 $6,000 $0.32 $333 $500 Credit off the Rent Professional Management $16,755 $0.90 $931 $19,500 $1.04 $1,083 Estimated at 4% of gross income Repairs & Maintenance $9,000 $0.48 $500 $9,000 $0.48 $500 Estimated at $500 / Unit Pest Control $720 $0.04 $40 $720 $0.04 $40 Estimated at $60 / Month Pool $1,200 $0.06 $67 $1,200 $0.06 $67 Estimated at $100 / Month Trash $2,700 $0.14 $150 $2,700 $0.14 $150 Estimated at $225 / Month Landscaping $1,200 $0.06 $67 $1,200 $0.06 $67 Estimated at $100 / Month License Fees & Taxes $1,350 $0.07 $75 $1,350 $0.07 $75 Estimated at $112 / Month Total Expenses $144,398 $7.73 $8,022 $147,144 $7.87 $8,175 17

18 INCOME & EXPENSES Actual Pro Forma Income Annual Per Unit Per SF % Annual Per Unit Per SF % Gross Potential Rent $424,356 $23,575 $22.71 N/A $494,400 $27,467 $26.45 N/A Other Income Laundry Income $3,000 $167 $ % $3,000 $167 $ % Gross Potential Income $427,356 $23,742 $ % $497,400 $27,633 $ % Vacancy/Collection Allowance...(% of GPR) ($8,487) ($472) ($0.45) 2.0% ($9,888) ($549) ($0.53) 2.0% Effective Gross Income $418,869 $23,270 $ % $487,512 $27,084 $ % Expenses Total Expenses $144,398 $8022 $ % $147,144 $8175 $ % Net Operating Income: $274,471 $15,248 $ % $340,368 $18,909 $ % FINANCIAL MODEL Unit Mix Summary Unit Type Number of Units Rentable SF (Approx.) Total Rentable SF (Approx.) Actual Rent Per Unit Actual Rent per SF Total Actual Rent Potential Market Rent Per Unit Market Rent Per SF Total Market Rent Potential 1 Bredroom 1 Bath 12 N/A N/A $1,635 N/A $19,615 $1,950 N/A $23,400 2 Bedroom 2 1/2 Bath 1 N/A N/A $3,800 N/A $3,800 $3,800 N/A $3,800 2 Bedroom 2 Bath 5 N/A N/A $2,390 N/A $11,948 $2,800 N/A $14,000 Totals / Wtd. Averages 18 1,038 SF 18,689 SF $1, $1.89 SF $35,363 $2, $2.20 SF $41,200 Annual Rent Potential $424,356 $494,400 18

19 3153 BARBARA COURT > Offering Memorandum

20 RENT COMPARABLES # Property Address City State Zip Unit Type Detail Unit Size SF Rent Actual Rent Per SF Oakshire Dr. Los Angeles CA Bed/1-Bath 800 $1,695 $ Cahuenga Blvd Los Angeles CA Bed/1-Bath 730 $1,725 $ Barham Blvd Los Angeles CA Bed/1-Bath 900 $2,000 $ Barham Blvd Los Angeles CA Bed/1-Bath N/A $2,400 N/A Oak Glen Dr. Los Angeles CA Bed/2-Bath N/A $2,950 N/A Cahuenga Blvd Universal City CA Bed/2-Bath 1,141 $2,750 $ Hollycrest Dr. Los Angeles CA Bed/2-Bath N/A $2,800 N/A Barham Blvd Los Angeles CA Bed/2-Bath 1,300 $3,400 $2.62 Total Rent Comparables Average SF Rent Per Sq.Ft. 1 Bed, 1 Bath 810 $1,955 $ Bed, 2 Bath 1,220 $2,975 $

RENT COMPARABLES MAP 6 3153 Barbara Ct. Los Angeles CA 90068 1 3270 Oakshire Dr.

3256 Barham Blvd Los Angeles CA 90068 5 3338 Oak Glen Dr.

21 RENT COMPARABLES MAP Barbara Ct. Los Angeles CA Oakshire Dr. Los Angeles CA Cahuenga Blvd Los Angeles CA Barham Blvd Los Angeles CA Barham Blvd Los Angeles CA Oak Glen Dr. Los Angeles CA Cahuenga Blvd Los Angeles CA Hollycrest Dr. Universal City CA Barham Blvd Los Angeles CA BARBARA CT. 7 21

22 SALE COMPARABLES # Property Address Property City Property County Property Zip Code Number Of Units Sale Price Price Per Unit Price Per SF Actual Cap Rate GRM Bldg SF Year Built Sale Date Hayworth Ave West Hollywood Los Angeles $6,726,000 $373,667 $ % , /24/ Fairfax Ave Los Angeles Los Angeles $6,700,000 $352,632 $ % , /30/ Hampton Ave Los Angeles Los Angeles $5,900,000 $347,059 $ % , /7/ Gardner St Los Angeles Los Angeles $5,450,000 $340,625 $ N/A N/A 14, /2/ Hillcrest Rd Los Angeles Los Angeles $5,200,000 $866,667 $ N/A N/A 6, /11/ Formosa Ave Los Angeles Los Angeles $4,300,000 $477,778 $ % , /11/ Edinburgh Ave West Hollywood Los Angeles $3,525,000 $391,667 $ % , /12/ Crescent Heights Blvd West Hollywood Los Angeles $3,288,000 $411,000 $ N/A N/A 6, /3/2018 AVERAGE $445,137 $ %

23 SALE COMPARABLES MAP 3153 Barbara Ct. Los Angeles CA Hayworth Ave West Hollywood CA Fairfax Ave Los Angeles CA Hampton Ave Los Angeles CA Gardner St Los Angeles CA Hillcrest Rd Los Angeles CA Formosa Ave Los Angeles CA Edinburgh Ave West Hollywood CA Crescent Heights Blvd West Hollywood CA BARBARA CT

24 3153 BARBARA COURT > Offering Memorandum

AREA OVERVIEW Nestled at the base of the Hollywood Hills, this property is located in the Studio City/Sherman Oaks submarket, which is also home to most major film and television studios in Los

Amenities nearby the property include a Starbucks coffee shop and several eateries within walking distance, as well as an L.A. Fitness gym and the popular Universal City Walk shopping district a bit further afield.

25 LOS ANGELES / HOLLYWOOD HILLS SUBMARKET HOUSING TRENDS: After peaking near 5% in mid-2016, annual growth now stand at 2.0%.

25 AREA OVERVIEW Nestled at the base of the Hollywood Hills, this property is located in the Studio City/Sherman Oaks submarket, which is also home to most major film and television studios in Los Angeles. This is one of LA s hot spots for multifamily development, and the arrival of thousands of new units over a relatively short period will likely continue to weigh on fundamentals. Amenities nearby the property include a Starbucks coffee shop and several eateries within walking distance, as well as an L.A. Fitness gym and the popular Universal City Walk shopping district a bit further afield. Also within easy driving distance are the world-renown studio and theme park Universal Studios Hollywood, as well as the many restaurants and hotels that serve that attraction. 25 LOS ANGELES / HOLLYWOOD HILLS SUBMARKET HOUSING TRENDS: After peaking near 5% in mid-2016, annual growth now stand at 2.0%. The submarket bests average rents in East Hollywood by around $500/month, but rents in neighboring West Hollywood and Mid-Wilshire are significantly higher. Hollywood has significant name value that could continue to generate demand by residents moving to the area. Hollywood s multifamily inventory consists of about 36,000 apartments.

AREA DEMOGRAPHICS CATEGORY 90068 ZIP CODE Total Population 6,044 Total Households 3,143 Median Household Income 120,007 Average Household Income 187,789 Median Age 44.57 Vacancy 3.

26 AREA DEMOGRAPHICS CATEGORY ZIP CODE Total Population 6,044 Total Households 3,143 Median Household Income 120,007 Average Household Income 187,789 Median Age Vacancy 3.5% Median Home Price $1,221,283 Employment 3,791 RACE & ETHNICITY 1 Mile White 4,782 Black 314 American Indian/Alaska Native 14 Asian 506 Hawaiian/ Pacific Islander 7 Other 151 Two or More Races

27 AMENITIES MAP El Paseo De Cahuenga Park Valley View Elemntary School 3153 BARBARA CT. 27

TEAM GHOBADI NORTH LOS ANGELES REZA GHOBADI SENIOR VICE PRESIDENT Lic. 01780045 +1 818 325 4142 reza.ghobadi@colliers.com JARED PAPAZIAN MULTI-FAMILY SPECIALIST Lic. 02018676 +1 818 325 4145 jared.

28 TEAM GHOBADI NORTH LOS ANGELES REZA GHOBADI SENIOR VICE PRESIDENT Lic JARED PAPAZIAN MULTI-FAMILY SPECIALIST Lic ALEX FORSTER MULTI-FAMILY SPECIALIST Lic ARTHUR DEDEYAN MULTI-FAMILY SPECIALIST Lic JOCELYN GARIA MARKETING Colliers International Ventura Blvd., Suite J Encino, CA P: (818) F: (818)

14134 BURBANK BLVD. SHERMAN OAKS, CA 91401

OFFERING MEMORANDUM 14134 BURBANK BLVD. SHERMAN OAKS, CA 91401 TEAM GHOBADI MULTIFAMILY Real Estate Investment Services PROPERTY OVERVIEW...3 FINANCIAL ANALYSIS...9 MARKET COMPARABLES...13 DEMOGRAPHIC