10 UNITS IN CULVER CITY

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1 3827 TILDEN AVE CULVER CITY, CA UNITS IN CULVER CITY Excellent location, close to downtown Culver City NO RENT CONTROL Great unit mix with 1 bedroom, 2 bedroom, & 3 bedroom units 8 parking spaces Almost 20% upside in rents Approximately $300,000 in property upgrades over the past 36 months Zoned R4

2 CONTENTS PROPERTY ANALYSIS Summary Neighborhood Information Financial Analysis Setup Financial Analysis Rent Roll Photos Sold Comparables Rent Comparables CONTACT Kenny Stevens BRE# direct fax

3 LISTING SUMMARY PROPERTY DESCRIPTION Units 10 Square Footage 9,340 Major Intersection Sepulveda Blvd & Venice Blvd Zoning Type CCR4 Market Culver City Year Built 1957 APN Lot Size 10,926 HIGHLIGHTS Property Area Excellent Culver City location, close to downtown. No rent control. Great unit mix with 1 bedroom, 2 bedroom, & 3 bedroom units. 8 parking spaces. Almost 20% upside in rents. Approximately $300,000 in property upgrades over the past 36 months. Zoned R4. Located in Culver City between Venice Blvd & Washington Blvd and west of Overland. It maintains close proximity to downtown Culver City with it s hip downtown area full of trendy bars & restaurants.

4 NEIGHBORHOOD INFORMATION CULVER CITY, CALIFORNIA Since the 1920s, Culver City has been a significant center for motion picture and later television production, best known as the home of Metro-Goldwyn-Mayer studios. It was also the headquarters for the Hughes Aircraft Company from 1932 to National Public Radio West and Sony Pictures Entertainment now have headquarters in the city. The NFL Network studio is also based in Culver City. Culver City s population is approximately 39,428 with an average median household income of $75,424. Downtown Culver City is one of Southern California s best kept secrets, featuring a wonderful mix of historic buildings, boutiques, theaters, galleries, and unique restaurants opening onto tree-lined streets. Some of the notable locations include the historic Kirk Douglas theater, Arclight Cinemas and Trader Joes. Downtown Culver City is also close in proximity to acclaimed restaurant n/naka, which was rated by Zagat in 2015 as the best restaurant in Los Angeles. Click Here Neighboring areas include Mar Vista, Venice, Palms, Westchester, Baldwin Hills, Inglewood, Playa Vista and Marina Del Rey. The largest employers in Culver City are Sony Pictures Entertainment, Southern California Hospital at Culver City,

5 NEW DEVELOPMENTS New Developments: 1) In 2013, Greystar Real Estate broke ground on Access Culver City, one of the first transitoriented projects built along the Expo Line. The project, designed by Togawa Smith Martin Residential, will bring 115 apartments, 31,000 square feet of retail, and a 7,000 square foot public plaza. Pricing and availability for the units to be released Spring ) The current western terminus of the Expo Line light rail, near downtown Culver City and the Hayden Tract, is set to see some dramatic changes. The area will soon get a jolt with Platform, an upscale retail project from developers Runyon Group. Architects Abramson Teiger have just released new renderings for the project, which will hug one side of the elevated Expo station and features a style similar to the uber trendy Space15Twenty retail complex on Cahuenga in Hollywood. Looks like some retailers have already signed leases at Platform, which will have about half a dozen three- and four-story buildings (plus an awesome parking garage). Update: Over the past year we have been busy! Construction is well under way and we have leased over 75 percent of our buildings to an incredibly exciting mix of merchants and chefs. With the tone of quality set by our first fifteen tenants, we are releasing our final six spaces for lease. We are also excited to announce the acquisition of the immediately adjacent parcel, which will add approximately 30,000 square feet of additional retail and creative office space to PLATFORM. 3) The former industrial areas in eastern Culver City known as Hayden Tract and Smiley Blackwelder are coming alive thanks to a new parking district overlay making them hotspots for creative office space. Priced out of Santa Monica and Venice, media and tech firms--like Beats Electronics, Inside.com, and PopSugar--are setting up shop or relocating to this central area. Hackman Capital Partners is turning several industrial buildings in the Hayden Tract into even more creative office space. Near the freeway and the Metro, and halfway between DTLA and the beach, the area has many draws of its own and the city is helping by facilitating more parking and working to lay down high-speed fiber-optic cable throughout Culver City. Meanwhile, the nearby Helms Bakery complex, closer to the rail stop, is also seeing an infusion of new restaurants and shops.

6 EXPO LINE The first phase of the Expo Line opened to Culver City on June 20th, The line is currently being extended westward to Santa Monica, with a projected opening date of May 20, The Expo Line light rail extension from Culver City to Santa Monica is nearing completion and there will be seven stations west of Culver City; the furthest west is located just blocks from 3rd Street Promenade and Santa Monica Pier. Travel from downtown Los Angeles to Santa Monica will be 46 minutes, even during rush hour. There will be three park-and-ride lots offering 580 parking spaces and a projected ridership of 64,000 daily riders by The $1.5 billion investment promises to minimize

7 CURRENT FINANCIAL $4.095M 3827 TILDEN AVE CULVER CITY, CA 90232

8 CURRENT RENT ROLL 3827 TILDEN AVE CULVER CITY, CA This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any

9 PROPERTY UPGRADES 3827 TILDEN AVE CULVER CITY, CA 90232

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14 SOLD COMPARABLES 3827 TILDEN AVE CULVER CITY, CA SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE/UNIT Subject Property: 3827 Tilden Ave $4,200, ,340 $ $420,000 UNIT MIX: (4) 1+1, (5) 2+1, (1) Venice Blvd, Built 1956 $4,250, ,968 $ $531,250 UNIT MIX: (8) 2+1 CLOSED:11/16/ Grand View Blvd, Built 1986 UNIT MIX: (1) 1+1, (5) 2+2, (1) 3+2 CLOSED: 1/7/16 $3,640, ,503 $ $520, Empire Dr, Built 1988 UNIT MIX: (2) 1+1, (10) 2+1 CLOSED: 3/24/16 $4,650, ,124 $ $387, Wade St, Built 1953 $3,260, ,996 $ $326,000 UNIT MIX: (10) 2+1 CLOSED: 8/20/15

15 ON MARKET COMPARABLES 3827 TILDEN AVE CULVER CITY, CA SALE PRICE UNITS BLDG S.F. PRICE S.F. PRICE/UNIT CAP RATE GRM Subject Property: 3827 Tilden Ave UNIT MIX: (4) 1+1, (5) 2+1, (1) 3+1 $4,200, ,340 $ $420, Wade Street, Built 1953 UNIT MIX: (10) 2+2 $4,800, ,288 $ $480, % Bagley Ave, Built 1966 UNIT MIX: (6) 1+1, (4) 2+1 $4,125, ,716 $ $412, % Motor Ave, Built 2006 UNIT MIX: (2) 1+1, (6) 1+1.5, (12) $6,895, ,011 $ $344, % Mentone Ave, Built 2009 UNIT MIX: (3) 0+1, (3) 1+1, (3) 2+2, (3) $3,950, ,992 $ $329, % N/A Venice Blvd Venice Blvd (Portfolio Sale) $5,150, ,861 $ $858,333 N/A N/A 14 28,655 $ $367,857 N/A N/A

16 SOLD & ON MARKET COMPARABLES 1 B D C 3 E 4 A SOLD Ince Blvd 4221 Grand View Blvd Empire Dr 4101 Wade St A B C D E ON MARKET 4107 Wade St 3200 Bagley Ave 3614 Motor Ave 3427 Mentone Ave Venice Blvd

17 RENT COMPARABLES MAP Rent Bed Bath Description Rose Ave, Los Angeles, CA $2, Two bedroom one bath, newly remodeled, large closet space, lot s of natural light, balcony, two parking spaces. 940 Venice Blvd Venice, CA $1, Newly remodeled 1 Bedroom apartment. Just 5 minutes away from beach by bike. We have a pool and 2 washers and 2 dryers on-site in the common area Lucerne Ave, Culver City, CA $2, Gas stove, Dishwasher, lots of kitchen cabinets,new hardwood floors in living room, kitchen, and hallway. New carpets in the bedrooms. Balcony, S Canfield Ave Apt 204, Los Angeles, CA $2, Newer contemporary gated intercom building. Large airy remodeled 2 story - 3 bedroom and 2 bath townhouse that is approximately 1150 square feet of living space. Large kitchen with brown cabinets.

18 3827 TILDEN AVE CULVER CITY, CA UNITS IN CULVER CITY Please contact: Kenny Stevens BRE# direct fax Prosser Stevens Real Estate Investments ProsserStevens.com