17721 SHERMAN WAY > OFFERING MEMORANDUM RESEDA, CALIFORNIA TEAM GHOBADI

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1 > OFFERING MEMORANDUM 77 SHERMAN WAY RESEDA, CALIFORNIA 95 TEAM GHOBADI REAL ESTATE INVESTMENT SERVICES reza.ghobadi@colliers.com

2 77 SHERMAN WAY RESEDA, CALIFORNIA 95 PROPERTY OVERVIEW... MARKET OVERVIEW...8 COMPARABLES... MARKET DEMOGRAPHICS E. OCEAN BLVD. LONG BEACH, CA

3 77 SHERMAN WAY > Offering Memorandum PROPERTY OVERVIEW

4 Property Overview Market Overview Comparables Market Demographics PROPERTY INFORMATION Colliers International is pleased to present a great development opportunity at 77 Sherman Way in the City of Reseda. The lot size is,98 with an existing building of 6,90 SF which has been used as a Body Shop for many years. The building will be delivered vacant which will give the new owner the options to either lease it out as a light body shop, owner user or to develop. Zoned LAC-VL will allow to build 0 apartment units plus density bonus Buyer to verify. The current strong market conditions, population growth, affordability issues and lack of apartment units makes this property a very attractive development opportunity in a dense location. The property is located on Sherman Way just west of White Oak Avenue in the City of Reseda. Furthermore, the property is located just minutes away from Balboa Park and Golf Course, Northridge University and 0 & 05 Freeways. Address PROPERTY PROFILE Year Built 968 Price $,75, Sherman Way, Reseda, CA 95 Price per Gross Lot Size $6. Price per RSF $77. APN Building Size 6,90 SF Lot Size,98 SF Zoning LAC Lot Size,98 SF Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 07. All rights reserved. 77 SHERMAN WAY RESEDA, CA

5 Property Overview Market Overview Comparables Market Demographics KEY HIGHLIGHTS > Great Development Opportunity in Reseda CA > Zoned LAC. Can be built 0+ apartment units Buyer to verify > Will be delivered vacant at the close of escrow > Can also be used as owner user for light body shop Buyer to verify > Same landlord in more than decades > Located on a main thoroughfare in San Fernando Valley > Dense location with high demand for apartment units > Close to Balboa Park and Golf Course > Just minutes from 0 & 05 FWY Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, 5 warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 07. All rights reserved. 77 SHERMAN WAY RESEDA, CA

6 Property Overview Market Overview Comparables Market Demographics PROPERTY PHOTOS 6 77 SHERMAN WAY RESEDA, CA

7 White Oak Ave Property Overview Market Overview Comparables Market Demographics PROPERTY AERIAL Balcom Ave Yarmouth Ave 77 Sherman Way Jellico Ave Cantlay St Sherman Way Sherman Way White Oak Ave Sherman Way 7 77 SHERMAN WAY RESEDA, CA

8 77 SHERMAN WAY > Offering Memorandum MARKET OVERVIEW

9 Property Overview Market Overview Comparables Market Demographics MARKET OVERVIEW The Reseda neighborhood of San Fernando Valley is located near the crossroads of the 0 and 05 Freeways. Its surrounding neighbors consist of Encino, Tarzana, Northridge, Canoga Park, and Van Nuys. North Hollywood benefits not only from its close proximity to freeways, but also from the Reseda and Tampa stations on Metro s Orange Line. The immediate area near the subject property features a variety of retailers and amenities. Prominent retailers include Vons, Vallarta Supermarkets, Costco, Home Depot and Walgreens. Local dining options range from McDonald s and In-N-Out to Zig s Restaurant and Great Wall Chinese. Nearby amenities in the NoHo Art District include Lake Balboa Park, Pacific Winnetka Theater and Northridge Fashion Center. RESEDA SUBMARKET HOUSING TRENDS: The Reseda multifamily market has seen an average rental growth of 6.% over the last years. Within Reseda, just less than half of living units (8.6%) are renter occupied. Population growth within the same radius is expected to reach.0% between now and 0. Rents are expected to increase, as a low vacancy rate of.5% will not be greatly influenced by the introduction of 9 units currently under construction. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, 9 warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 07. All rights reserved. 77 SHERMAN WAY RESEDA, CA

10 Property Overview Comparables Market Overview Market Demographics AMENITIES MAP Big Fat Sherman Way The City School 5 RESTAURANTS & CAFES Lake Balboa Daniel Pearl Magnet School 9 8 Newcastle Elementary School Arax Groceries & Deli Mulholland Middle School 7 Big Fat McDonald s Jack in The Box Koko Middle Eastern 5 In-N-Out 6 Del Taco 7 Subway 8 Salsa & Beer 9 Zig s Restaurant 0 Fortune House Restaurant Popeyes Chicken Evergreen Restaurant La Bamba Mexican Brami s Kosher Pizza 5 Fresh Korean BBQ 6 Wendy s RETAIL / LIFESTYLE ATTRACTIONS/AIRPORT Ralph s Arax Groceries & Deli Sky Zone Trampline Park Skazka Deli Grocery Los Angeles Recreation & Parks The City School Bank of America The Japanese Garden Daniel Pearl Magnet School 5 Wells Fargo Lake Balboa Newcastle Elementary School Chase Bank 5 Van Nuys Mulholland Middle School 6 0 SCHOOLS Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 07. All rights reserved. Japanese Garden 77 SHERMAN WAY RESEDA, CA

11 77 SHERMAN WAY > Offering Memorandum COMPARABLES

12 Property Overview Market Overview Comparables Market Demographics SALES COMPARABLES # Property Address Price Price/SF SF CAP Rate GRM Type Year Built Sale Date # # # Subject Property 77 Sherman Way Reseda, CA 75 Chatsworth St. Granada Hills, CA 87 Sherman Way Reseda, CA 5 W Vanowen St. Canoga Park, CA $,75,000 $6.,98 N/A N/A Industrial $,08,6 $6.0 5,8 N/A N/A Land N/A 0//07 $,00,000 $8. 8,80 N/A N/A Land N/A 6/6/07 $8,50,000 $ ,9 N/A N/A Land N/A /9/06 Total Sold Comparables Average $,86, $.7,68 N/A N/A 968 Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 07. All rights reserved. 77 SHERMAN WAY RESEDA, CA

13 Property Overview Market Overview Comparables Market Demographics AMENITIES MAP ADDRESS CITY STATE ZIP CODE 77 Sherman Way Reseda CA Chatsworth St. Granada Hills CA 9 87 Sherman Way Reseda CA 95 5 W Vanowen St. Canoga Park CA Sherman Way Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 07. All rights reserved. 77 SHERMAN WAY RESEDA, CA

14 77 SHERMAN WAY > Offering Memorandum MARKET DEMOGRAPHICS

15 Property Overview Market Overview Comparables Market Demographics AREA DEMOGRAPHICS POPULATION COUNT PERCENTAGE Total Population 7,9 - Median Age 7 - Male 5,5 9.9% Female 6, % INCOME COUNT PERCENTAGE Average Household Income $7, Median Household Income $5, Median Owner-Occupied Housing Value $0, SUBJECT HOUSEHOLDS COUNT PERCENTAGE Total Household Units,590 - Owner Occupied, % Renter Occupied 0,9 8.6% RACE & ETHNICITY COUNT PERCENTAGE White,70 7.9% Black,007.8% American Indian/Alaskan Native % Asian 9,768.58% Hawaiian/ Pacific Islander 9 0.% Other 0, 8.6% Two or More Races, % Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, 5 warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and/or its licensor(s). 07. All rights reserved. 77 SHERMAN WAY RESEDA, CA

16 77 Sherman Way Reseda, California TEAM GHOBADI REZA GHOBADI Senior Vice President Lic reza.ghobadi@colliers.com JARED PAPAZIAN Associate Lic jared.papazian@colliers.com