LOCAL MARKET UPDATE. Culver Public Market and Costa Hawkins Overview. Los Angeles, CA 90066

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1 LOCAL MARKET UPDATE Los Angeles, CA Elliot Schwartz Commercial Real Estate Advisor Tel: (310) SEVEN MULTIFAMILY UNITS AND ONE RETAIL SPACE IN THE HEART OF MAR VISTA Culver Public Market and Costa Hawkins Overview Elliot Schwartz Tel: (310) License: CA

2 N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E Non-Endorsements Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Disclaimer THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express 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 inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc Marcus & Millichap. All rights reserved. 2

3 P R E S E N T E D B Y Elliot Schwartz Westside Commercial Real Estate Specialist West Los Angeles Office Tel: (310) Cel: (818) Fax: (310) elliot.schwartz@marcusmillichap.com License: CA

4 3993 & 3995 Inglewood Boulevard PRICE $2,850,000 LOT SIZE BUILDING SIZE +/- 10,858 Square Feet ($262.47/ Lot SF) +/- 5,836 Square Feet ($488.34/ Building SF) APNs & PARKING ZONING 13 Parking Spaces LAC1 YEAR BUILT 1905 & 1956 PARKING UNITS Thirteen parking spaces Seven Multifamily Units and One 1,370 SF Retail Space CAP RATE 3.57% PRICE PER UNIT $356,250 Per Door PROPERTY OVERVIEW Marcus and Millichap is proud to present 3993 & 3995 Inglewood Boulevard in the highly desirable market of Mar Vista in Los Angeles, California. The property is located on a hard signalized corner of Washington Place and Inglewood Boulevard. The property is comprised of two buildings is 6 unit, 3,380 square foot building on a 5,297 square foot lot zoned LAC1. The unit mix is all one bedroom one bath units is a 2,456 square foot mixed use building on a 5,288 square foot lot zoned LAC1. The building has a 1,370 square foot retail space on the ground floor with Fadivape currently occupying it. The upstairs unit is a three bedroom one bath unit providing an investor flexibility in use. BUYERS HIGHLIGHTS 25% Rental Upside Located in the heart of Blocks away from Downtown Mar Vista, Farmers Market, and upcoming Culver Public Market Development Mixed-Use Space

5 UNIT UNIT TYPE RENT 1 1 Bedroom / 1 Bath $1, Bedroom / 1 Bath $1, Bedroom / 1 Bath $1, Bedroom / 1 Bath $1, Bedroom / 1 Bath $1, Bedroom / 1 Bath $1, Bedroom / 1 Bath $2,310 FadiVape 1,370 SF Retail Space $3,300 Total Rent Annually $166,056 METRICS Price Per Square Foot of Building $ Price Per Square Foot of Lot $ Price Per Unit $356,250 Net Operating Income $101,778 CAP Rate 3.57% GRM 17.1 Pro Forma CAP Rate 5.26% Pro Forma GRM 13.15

6 OPERATING STATEMENT MULTIFAMILY Gross Scheduled Rent $125,291 Laundry* $1,600 Vacancy Factor 2.5%* $-3,132 Effective Gross $123,758 RETAIL Gross Scheduled Rent $39,600 Vacancy Factor 2.5%* $-990 Effective Gross $38,610 EXPENESES* Real Estate Taxes $33,915 Insurance $6,428 Utilities $3,047 Repairs & Maintenance $7,642 Landscaping $1,440 Management Fee (5%) $8,118 TOTAL $60,590 *Please review notes page

7 Vacancy Factor Laundry Real Estate Taxes Expenses Management Fee Notes Running a total vacancy factor of 5%, however, the building is completely occupied. Estimated potential revenue from laundry. Real Estate Taxes were calculated with a 1.19% of the purchase price at $2,850,000. Insurance, Utilities, Repairs, Maintenance, and Landscaping were taken from actual expenses in This includes turning over unit 4 after a vacancy. The property was underwritten with a 5% management fee, however, the property is not currently operating with a management company. The vacancy factor and management fee totals an annual expense of $-12,240. The property has a net operating income of $117,706 and 4.13% cap rate if the vacancy factor and management fee is removed from expenses.

8 WESTSIDE OVERVIEW METRO HIGHLIGHTS GROWING TECH SECTOR The region s growing high-tech sector has awarded the Santa Monica/Venice area the nickname of Silicon Beach, attracting companies such as Google. Mar Vista houses many in this work force. WELL-EDUCATED WORKFORCE Area residents are well educated. A majority of adults possess at least a bachelor s degree and more than a quarter also have a graduate degree. HIGH INCOMES Educational attainment translates into a median household income that is well above the national average. High home prices, however, keep the homeownership level near 40 percent. ECONOMY Major employers in the region include entertainment giants 21st Century Fox and Sony Pictures. While roughly 20,000 jobs are in the motion-picture industry, ancillary businesses tied to entertainment are a major source of employment, as is marketing and advertising. The large healthcare industry is represented by UCLA Medical Group, Cedars- Sinai Medical Center, Providence Health and Services, and the local VA. Educational institutions including UCLA, Loyola Marymount and Pepperdine University employ more than 42,000 workers. Tourism and retail shopping are major drivers of the local economy. DEMOGR APHICS 2017 POPULATION: 649K Growth *: 1.9% 2017 HOUSEHOLDS: 300K Growth *: 2.5% 2017 MEDIAN AGE: 39.4 U.S. Median: MEDIAN HOUSEHOLD INCOME: $81,400 U.S. Median: $56,300

9 MAR VISTA MARKET OVERVIEW The Venice/Grand View Historic Commercial District: Mar Vista's historic "downtown" contains buildings built between 1924 and 1960 (including the original Mar Vista Library) in a wide variety of styles. You can find tattoo parlors, hand-brewed coffee and the weekly farmers market. Venice/Grandview Historic district is half a mile from Inglewood Blvd. The subject property has been given a 82 walk score, deemed very walkable where most errands can be accomplished on foot Inglewood Blvd is also blocks away from the new development on the corner over Washington Blvd and Centinela Ave. The Culver Public Market is slated to be a 26,000 square foot space. It s currently in the entitlement phase and is planning on having: 3.5 story parking lot accommodating 148 cars 3 retail pads on the east lot totaling 4,500 square feet Market hall on west lot with 5 inline restaurant and/or retail spaces on the west lot

10 METRICS CULVER PUBLIC MARKET Urbanspace, a curator and developer of public markets, will soon ply its trade in Culver City. Regency Centers, the developer of the Culver Public Market development at Washington Boulevard and Centinela Avenue, has announced that Urbanspace will be partnering on its project, which is billed as a Westside answer to Downtown's Grand Central Market. We take great pride in helping to bring a unique and quality operator like Urbanspace to a new market, said John Nahas, Vice President of Investments for Regency Centers. The market hall component is the anchor of the development, so we couldn t be more excited to have Urbanspace as a part of the project. The company s roots are authentic and their markets in New York and throughout the U.K. are among the best we ve seen. Urbanspace, which was founded in 1972, is known for connecting small business owners and chefs to customers through its centers. The company's previous work includes more than 50 projects. "Over the past 40 years, with every environment we ve built permanent and pop-up Urbanspace has taken the most important cues from our creative pool of chefs and makers, said Eldon Scott, President of Urbanspace. We re thrilled to be partnering with some of the most talented chefs in Los Angeles and providing them with the ultimate stage to do what they do best serve delicious food, beverages, and theater with this great, new destination in Culver City. The Culver Public Market, totaling approximately 26,000 square feet of rentable space, will rise from two long-vacant lots. Construction is scheduled to begin in Fall 2018, with completion and opening anticipated early in Source: Urbanize LA

11 CULVER PUBLIC MARKET Site A, located at the northwest corner of Washington and Centinela, is imagined as a one-story building featuring 21,605 square feet of space for artisanal food vendors, 3.5 story parking structure with 148 vehicle stalls. The market hall is slated to include five inline restaurant or retail spaces. Site B, located at the northeast corner of the intersection, will feature three one-story retail pads offering 4,500 square feet of commercial space, with a 20-stall surface parking lot located at the back of the property.

12 Culver Public Market Vons 3993 & 3995 Inglewood Blvd The Culver Public Market is half a mile away from 3993 & 3995 Inglewood Boulevard which is a great marketing point when a vacancy arises and the showing process begins & 3995 Inglewood Boulevard s walkability is extremely attractive to prospective tenants.

13 P R E S E N T E D B Y Elliot Schwartz Westside Commercial Real Estate Specialist West Los Angeles Office Tel: (310) elliot.schwartz@marcusmillichap.com License: CA