14 Units MULTI-FAMILY APARTMENT BUILDING

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1 13611 COURT VANOWEN CONFIRMATION STREET, DATE VAN NUYS, CA TO BE ANNOUNCED IN FEBRUARY 2018 (see details below) 14 Units MULTI-FAMILY APARTMENT BUILDING PROBATE SALE VANOWEN STREET VAN NUYS, CA ASKING PRICE: $2,632,850 The Asking Price is the minimum overbid amount at the court confirmation hearing. The hearing date will be posted on BidKW.com in February. Nine units are vacant and only 3 tenants are paying rent. Presenting this excellent value add apartment building in San Fernando Valley This two story garden style building was built in 1962 and features ±10,529 sq. ft. with ten 1-bedroom/1-bath units, four 2-bedroom units, laundry room, storage room and ample parking Probate Sale is Subject To Probate Court Confirmation and Overbid The Property was in the City of Los Angeles Rent Escrow Account Program (REAP). All REAP violations have been resolved and the removal from REAP has been approved. However, the Property will be sold AS-IS; all prospective purchasers to independently verify any future rental restrictions and all other information including relying on its own investigation of any future soft-story retrofit requirements. Lots lines are approximate Rhett Winchell Real Estate Sales & Marketing CalBRE License # (818) rwinchell@kennedywilson.com Prior to the court confirmation date all overbidders must provide proof of funds to close and register with Kennedy Wilson by to rwinchell@kennedywilson.com BROKER COOPERATION

2 PROPERTY OVERVIEW ADDRESS Vanowen Street Van Nuys, CA APN PARCEL AREA GROSS BUILDING AREA IMPROVEMENTS ±13,989 sq. ft. ±10,529 sq. ft. 2-story apartment building, 14-units, laundry room, storage room and ample parking YEAR BUILT 1962 ZONING LAR-3 2

3 Unit Roll Notes: As of December 1, 2017, five units are occupied with three tenants (Units 1, 12 and 15) paying rent. The Estate will retain all rents in the REAP escrow account. DO NOT DISTURB TENANTS Unit Address Bedrooms / Bathrooms* Status Scheduled Rents 1 2-Bedroom / 1½-Bathroom Occupied $1, Bedroom / 1-Bathroom Vacant 3 1-Bedroom / 1-Bathroom Vacant 4 1-Bedroom / 1-Bathroom Vacant 5 1-Bedroom / 1-Bathroom Vacant 6 2-Bedroom / 1½-Bathroom Occupied $1, Bedroom / 1-Bathroom Vacant 8 1-Bedroom / 1-Bathroom Vacant 9 2-Bedroom / 1-Bathroom Vacant 10 1-Bedroom / 1-Bathroom Occupied $1, Bedroom / 1-Bathroom Vacant 12 1-Bedroom / 1-Bathroom Occupied $ Bedroom / 1-Bathroom Vacant 15 2-Bedroom / 1-Bathroom Occupied $ * The Los Angeles County tax assessor records indicate that the Property has a total of 18-bedrooms and 16-bathrooms. Prospective buyers to rely on their own investigation and independently verify the bedroom/bathroom count, sizes and all other characteristics of the Property. Area Demographics Radius 1 Mile 5 Mile 10 Mile Population: 2022 Projection 54, ,069 2,026, Estimate 52, ,404 1,962, Census 49, ,079 1,844,515 Growth % 3.16% 3.24% Growth % 5.84% 6.41% 2017 Population Hispanic Origin 29, , , Population by Race: White 44, ,964 1,561,711 Black 2,543 35,380 85,742 Am. Indian & Alaskan ,468 22,125 Asian 3,907 69, ,236 Hawaiian & Pacific Island 125 1,692 3,762 Other 1,539 21,792 65,223 U.S. Armed Forces: Households: 2022 Projection 17, , , Estimate 16, , , Census 15, , ,970 Growth % 3.10% 3.19% Growth % 5.41% 5.94% Owner Occupied 5, , ,395 Renter Occupied 11, , , Avg Household Income $63,167 $80,498 $91, Med Household Income $43,774 $55,896 $63, Households by Household Inc: <$25,000 4,692 54, ,265 $25,000 - $50,000 4,665 59, ,134 $50,000 - $75,000 2,725 41, ,330 $75,000 - $100,000 1,649 29,905 84,823 $100,000 - $125,000 1,208 20,542 63,244 $125,000 - $150, ,063 39,881 $150,000 - $200, ,968 48,831 $200, ,757 71,453 3

4 Assessors Parcel Map Area / Zoning Map 4

5 One Bedroom Rental Comps Two Bedroom Rental Comps Address Bed / Bath Size Market Rent Rent/Sq. Ft Victory Blvd 1 / , Vanowen St #101 1 / , Vanowen St #202 1 / , AVERAGE 1 / , Address Bed / Bath Size Market Rent Rent/Sq. Ft Hazeltine Ave 2 / , Victory Blvd #C 2 / , Sherman Way 2 / , AVERAGE 2 / , Sales Comps Property 7040 Woodman 6136 Fulton Ave 6415 Fulton Ave Vanowen St Sale Date 8/2/2017 4/6/2017 3/21/2017 2/10/2017 Zoning R3 R3 R3 R3 Year Built # Units Size 8,626 8,592 12,420 11,832 Avg Unit Size Cap Rate NOI , ,740 Price 2,250,000 2,256,000 2,700,000 2,700,000 Price/SF Price/Unit 225, , , ,000 Property Vanowen St 7048 Fulton Ave AVERAGE Sale Date 1/26/ /7/ Zoning R3 R3 - Year Built # Units Size 11,368 10,682 10,587 Avg Unit Size Cap Rate NOI 139, , ,303 Price 3,300,000 2,700,000 2,651,000 Price/SF Price/Unit 194, , ,953 5