Offering Memorandum Tamarind Ave Hollywood, CA 90028

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1 Offering Memorandum 1422 Tamarind Ave Hollywood, CA 90028

2 Presented By: Kenny Stevens DRE

3 1422 Tamarind Ave Hollywood, CA LOCATION OVERVIEW Neighborhood Overview Hollywood Developments Property Location PROPERTY SUMMARY Property Details Property Highlights Photography FINANCIALS Rent Comps Rent Roll Financial Overview Sales Comps Loan Quote

4 A Neighborhood That Needs No Introduction HOLLYWOOD, CALIFORNIA: 1422 Tamarind Ave, is located in the booming, culturally rich neighborhood of Hollywood. The recent revitalization of Hollywood, long in the making, is now in full swing. Major entertainment and tech companies like Netflix & Viacom are now embracing the neighborhood. Just in the past 12 months, more than 7,500 new jobs were created in Hollywood. Hollywood is one of those neighborhoods that needs no introduction, synonymous as it is with the city of Los Angeles itself. Because of its history and famous sites like the Hollywood Walk of Fame, it has always attracted hordes of tourists, but now it has become the epicenter of new Class A office campuses in Los Angeles. Developers are creating millions of sq. ft. of Class A office space and thousands of new luxury rental units. Old Hollywood is stepping in too, with Paramount Pictures recently winning approval for a 1.4 million-square-foot studio expansion. Companies specializing in streaming media and virtual reality are now flocking towards Hollywood. Hollywood is also one of the most populated areas for schools, with a wide range of colleges and specialized programs like AMDA (American Musical & Dramatic Academy), Emerson College, the Musicians Institute, and AFI, situating themselves in Hollywood. In the past two years there has been a spike in the number of college students relocating to Hollywood. New restaurants and hotels are also setting up shop in Hollywood in response to the growing tech & entertainment boom such as TAO, The Dream Hotel, and Beauty & Essex. An astonishing number of additional apartments like The ICON building & The Lombardi will be built over the next decade. There is much more activity in Hollywood, reminding everyone that the evolving industry has returned to its roots. The future of what will be is brighter than ever. DEVELOPMENTS: Sunset Bronson Studios Sunset Blvd Los Angeles, CA ,000 square feet of office space. Main Tenant: Netflix Columbia Square Sunset Blvd Los Angeles, CA million office, residential & retail mixed use complex. Main tenants: VIACOM (MTV, BET, Comedy Central) (10,000 employees), Fender (2000+ employees Siren Studios Sunset Blvd Los Angeles, CA Plans to replace existing 70,000 sq. ft of office space with up to 350,000 sq. ft. of live/work space Epic Sunset Blvd Los Angeles, CA (under construction) - 15 stories, 300,000 square feet of office space Sunset Gower Studios W. Sunset Blvd Los Angeles, CA (under construction) - Additional 628,000 square feet of production space The Lombardi 1717 Bronson Ave Los Angeles, CA (construction to begin early 2018) - 89 unit, luxury rental apartment complex ICON Building Sunset Blvd, Los Angeles, CA (construction to begin early 2018) - 89 unit, luxury rental apartment complex

Studio City Valley Village Laurel Canyon Boulevard 101 170 101 Lankershim Boulevard Toluca Lake 134 W Alameda Avenue W Olive Avenue Warner Brothers Studio W Alameda Avenue 5 Los Angeles Zoo 5

5 Studio City Valley Village Laurel Canyon Boulevard Lankershim Boulevard Toluca Lake 134 W Alameda Avenue W Olive Avenue Warner Brothers Studio W Alameda Avenue 5 Los Angeles Zoo 5 Universal City 101 Hollywood Sign Hollywood Hills 1422 Tamarind Ave Griffith Observatory Greek Theatre Hollywood Bowl Lake Hollywood Los Feliz Boulevard Los Feliz Runyon Canyon Hollywood Boulevard Little Armenia Fountain Avenue Hollywood Sunset Boulevard Beverly Hills Sunset Strip La Cienega Boulevard West Hollywood Melrose Avenue Beverly Grove Fairfax Beverly Boulevard Santa Monica Boulevard 2 Paramount Pictures Studio N Wilton Place N Western Avenue 101 N Virgil Avenue

6 Location Overview Conservatively 31% upside in rents Heart of Hollywood location, south of Sunset and just east of Gower Minutes from Hollywood & Vine, Metro Stations, and the 101 Freeway Units average 835 sq. ft. 20 parking spaces Ground floor units have large enclosed patios

Property Summary PROPERTY DESCRIPTION 1422 Tamarind Ave, this 17-unit apartment community is located just South of Sunset Blvd, in the neighborhood of Hollywood.

8 Property Summary PROPERTY DESCRIPTION 1422 Tamarind Ave, this 17-unit apartment community is located just South of Sunset Blvd, in the neighborhood of Hollywood. Walking distance to a myriad of coffee shops, restaurants, theaters, and colleges. Walking proximity to over 1m square feet of brand new office space. Directly across from Sunset Gower Studios. The property features 14,244 square feet of rentable area, situated on a large 12,999 square foot lot zoned LAR4. This 17 unit building is comprised of (4) two- bedroom, two-bathroom units, (12) one-bedroom, one- bathroom units, and (1) studio unit. The building has been well maintained and includes a beautifully landscaped central courtyard. Approximately 20 parking spots included in the property. PROPERTY DETAILS 17 Units Sunset Boulevard & Fountain Ave Major Intersection Hollywood Market APN LAR4 Zoning Type 14,244 Sq Ft Building Sq Ft 12,999 Sq Ft Lot Size Sq Ft

9 Financials Hollywood Rental Price Average $3,077 According to research provided by Zillow, the average Hollywood rental price is $3,077, a 28% increase compared to 2015, when the average rent was $2,400. Rents are likely to continue to increase as the revitalization of Hollywood now in full swing. In just the past 12 months, more than 7,500 new jobs were created in Hollywood.

10 Financials Financial Overview $5,065,000

11 Unit # Unit Type Current Rent Market Rent Move-in Date $1,750 $1,950 10/1/ $1,114 $1,950 1/1/ $1,500 $1,950 5/12/ $2,400 $2,650 4/15/ $1,966 $2,650 9/23/ $1,950 $1, $842 $1,950 1/1/ $1,750 $1,950 3/20/ $842 $1,950 7/1/ $1,700 $1,950 10/9/ $1,420 $1,950 4/16/ $2,200 $2,650 10/1/ $1,750 $1,950 10/1/ $1,550 $1,950 9/30/ $1,650 $1,950 11/11/ Single $859 $1,695 3/15/ $2,300 $2,650 3/12/2018 Storage #1 N/A $300 $300 4/28/2016 Storage #2 N/A $200 $200 3/29/2013 Laundry $170 $170 MONTHLY TOTAL: $28,213 $36,365 ANNUAL TOTAL: $338,556 $436,380

Comparables Rental Comps Property Photo Address 3317 Barham

Cahuenga Boulevard 6736 Hillpark Drive 3055 Hollycrest Drive Rent

1+1 1+1 1+1 1+1 1+1 Notes Subject property Renovated unit with 1

apartment with stainless steel appliances, and washer/dryer

12 Comparables Rental Comps Property Photo Address 3317 Barham Boulevard 3387 Barham Boulevard 3600 Barham Boulevard 2700 Cahuenga Boulevard 6736 Hillpark Drive 3055 Hollycrest Drive Rent $2,050-$2,500 $2,500 $2,185 $2,900 $2,500 $2,000 Unit Type Notes Subject property Renovated unit with 1 parking space, deck, new appliances and washer/dryer Renovated apartment with stainless steel appliances, and washer/dryer Renovated top floor unit with vaulted ceilings and exposed wood beams. One covered garage parking space Large renovated unit with den and 1 parking space Updated unit with hardwood floors, arched doorways, unique built-ins.

13 Taramind Avenue Tamarind Avenue Rentals Tamarind Avenue Gordon Street La Mirada Avenue North Bronson Avenue North Bronson Avenue Virginia Avenue North Kingsley Drive Carlos Avenue

Comparables Sales Comps Property Photo Address Sale

Ft Price/Unit Year Built Unit Mix 1422 Tamarind Ave

$362,500 1948 (4) 1+1 1163 N Kingsley Dr Los Angeles,

(4) 1+1 2062 Argyle Ave $2,950,000 11/9/17 7 $519

$3,055,714 6/2/17 8 $503 6,071 $362,500 1948 (4) 1+1

14 Comparables Sales Comps Property Photo Address Sale Price COE Date # of Units Price Per Foot Building Sq Ft Price/Unit Year Built Unit Mix 1422 Tamarind Ave Hollywood, CA $5,065, $356 $362,500 $362, (4) N Kingsley Dr Los Angeles, CA $3,171,950 6/16/17 7 $462 6,867 $362, (4) Argyle Ave $2,950,000 11/9/17 7 $519 5,686 $362, (4) N Beachwood Dr $3,055,714 6/2/17 8 $503 6,071 $362, (4) Barham Boulevard $3,825,000 5/5/17 11 $373 10,224 $362, (4) 1+1

15 Taramind Avenue Tamarind Avenue Solds North Kingsley Avenue Afton Place Argyle Avenue North Beachwood Drive Fernwood Avenue

16 Financials Loan Quote

17 For more information, please contact: Kenny Stevens DRE Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number DRE All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

1422 TAMARIND AVENUE HOLLYWOOD, CA 90028

1422 TAMARIND AVENUE HOLLYWOOD, CA 90028 OFFERING MEMORANDUM 17 UNITS WITH PARKING IN THE HEART OF HOLLYWOOD DRE# 01991628 OFFERING MEMORANDUM OVERVIEW PRESENTED BY Kenny Stevens BRE# 01090251 310.963.7851 Kenny@KennyStevensTeam.com LOCATION