2530 SANTA FE AVE. LONG BEACH, CA PROPERTY HIGHLIGHTS

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1 2530 SANTA FE AVE. LONG BEACH, CA PROPERTY HIGHLIGHTS 5.67% Current CAP Rate 6.50% Pro Forma CAP Rate Quickly Attainable 7.50% CAP Rate Attainable in 3rd Year of Ownership Combined Owner User/Investment Opportunity Units (Vacant + MTM Restuarant) - Ideal Restaurant Opporunity ~24,000 CPD Traffic Count 120' of Frontage Along Santa Fe Ave. with Pylon Signage Utilities Separately Metered (including water) New Roof in 2017 Value Add Opportunity 4425 Atlantic Ave STE A25 Long Beach, CA christopherk@ournationwide.com Director / Broker-Associate christopherk@nreprobate.com

2 Table of Contents Investment Details... 3 Annual Property Operating... 4 Financial Indicators... 5 Executive Summary... 6 Pro Forma Summary... 7 Lease Rent Roll... 8 Rough Site/Floor Plan... 9 Quick Comp Report Demographics Location Map... 12

3 Investment Details ANALYSIS Analysis Date March 2018 PROPERTY Property Property Address Westside Shopping Center 2530 Santa Fe Ave. Long Beach, Ca Year Built 1959 PURCHASE INFORMATION Property Type Shopping Center Purchase Price $1,500,000 Fair Market Value $1,500,000 Tenants 7 Total Rentable Sq. Ft. 7,700 Resale Valuation 0.5% (annual appreciation) Resale Expenses 7.0% FINANCIAL INFORMATION Down Payment $525,000 Closing Costs $17,000 LOANS Type Debt Term Amortization Rate Payment LO Costs Fixed $975, years 25 years 4.75% $5,559 INCOME & EXPENSES Gross Operating Income $119,601 Monthly GOI $9,967 Total Annual Expenses ($34,710) Monthly Expenses ($2,893) Contact Information christopherk@ournationwide.com christopherk@nreprobate.com Patricia Conejos page 3 of 12

4 Annual Property Oper Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Rental Income $123,300 $123,814 $126,909 $129,542 $129,542 $129,542 $129,542 GROSS SCHEDULED INCOME $123,300 $123,814 $126,909 $129,542 $129,542 $129,542 $129,542 General Vacancy ($3,699) ($3,714) ($3,807) ($3,886) ($3,886) ($3,886) ($3,886) GROSS OPERATING INCOME $119,601 $120,099 $123,102 $125,656 $125,656 $125,656 $125,656 Expenses Property Management Fee ($5,980) ($6,005) ($6,155) ($6,283) ($6,283) ($6,283) ($6,283) Building Insurance ($2,150) ($2,150) ($2,150) ($2,150) ($2,150) ($2,150) ($2,150) Gardening ($1,200) ($1,200) ($1,200) ($1,200) ($1,200) ($1,200) ($1,200) License and Permits ($280) ($280) ($280) ($280) ($280) ($280) ($280) Repairs & Maintenance ($3,500) ($3,500) ($3,500) ($3,500) ($3,500) ($3,500) ($3,500) Misc & Reserves ($2,500) ($2,500) ($2,500) ($2,500) ($2,500) ($2,500) ($2,500) Taxes - Real Estate ($18,750) ($18,750) ($18,750) ($18,750) ($18,750) ($18,750) ($18,750) Utilities ($350) ($350) ($350) ($350) ($350) ($350) ($350) TOTAL OPERATING EXPENSES ($34,710) ($34,735) ($34,885) ($35,013) ($35,013) ($35,013) ($35,013) NET OPERATING INCOME $84,891 $85,364 $88,217 $90,643 $90,643 $90,643 $90,643 page 4 of 12

5 Financial Indicators Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Gross Rent Multiplier Capitalization Rate 5.66% 5.69% 5.88% 6.04% 6.04% 6.04% 6.04% Cash On Cash Return b/t 3.36% 3.44% 3.97% 4.42% 4.42% 4.42% 4.42% Cash On Cash Return a/t 3.36% 3.44% 3.97% 4.42% 4.42% 4.42% 4.42% Debt Coverage Ratio Gross Income per Sq. Ft. $16.01 $16.08 $16.48 $16.82 $16.82 $16.82 $16.82 Expenses per Sq. Ft. ($4.51) ($4.51) ($4.53) ($4.55) ($4.55) ($4.55) ($4.55) Net Income Multiplier Operating Expense Ratio 29.02% 28.92% 28.34% 27.86% 27.86% 27.86% 27.86% Loan To Value Ratio 63.29% 61.54% 59.73% 57.86% 55.93% 53.95% 51.89% * b/t = before taxes; a/t = after taxes page 5 of 12

6 Executive Summary Acquisition Costs Purchase Price, Points and Closing Costs $1,517,000 Investment - Cash $542,000 First Loan $975,000 Investment Information Purchase Price $1,500,000 Price per Tenant $214,286 Price per Sq. Ft. $ Income, Expenses & Cash Flow Gross Scheduled Income $123,300 Total Vacancy and Credits ($3,699) Operating Expenses ($34,710) Net Operating Income $84,891 Debt Service ($66,704) Cash Flow Before Taxes $18,187 Financial Indicators Cash on Cash Return Before Taxes 3.36% Debt Coverage Ratio 1.27 Capitalization Rate 5.66% Gross Income / Square Feet $16.01 Gross Expenses / Square Feet ($4.51) Operating Expense Ratio 29.02% page 6 of 12

7 Pro Forma Summary TENANT MONTHLY SCHEDULED INCOME Tenant Actual Market Luisa & Son Bakeshop $2,300 $2,530 Hair Salon $1,500 $2,250 Atlas Door (MTM) $1,100 $1,100 Wellness Center (MTM) $1,000 $1,100 Vacant (MTM) $1,275 $1,285 Edna's Rest. (MTM) $3,100 $3,800 N/A $0 $0 TOTALS $10,275 $12,065 INVESTMENT SUMMARY Price: $1,500,000 Year Built: 1959 Tenants: 7 RSF: 7,700 Price/RSF: $ Lot Size: 13,210 sf Floors: 1 Parking Spaces: 1.5 APN: Cap Rate: 5.66% Market Cap Rate: 6.96% FINANCING SUMMARY Loan Amount: $975,000 Down Payment: $525,000 Loan Type: Fixed Interest Rate: 4.75% Term: 25 years Monthly Payment: $5,559 DCR: 1.27 ANNUALIZED INCOME Description Actual Market Gross Potential Rent $123,300 $144,780 Less: Vacancy ($3,699) ($4,343) Effective Gross Income $119,601 $140,437 Less: Expenses ($34,710) ($35,969) Net Operating Income $84,891 $104,468 Debt Service ($66,704) ($66,704) Net Cash Flow after Debt Service $18,187 $37,764 Principal Reduction $20,841 $20,841 Total Return $39,028 $58,605 ANNUALIZED EXPENSES Description Actual Market Property Management Fee $5,980 $7,239 Building Insurance $2,150 $2,150 Gardening $1,200 $1,200 License and Permits $280 $280 Repairs & Maintenance $3,500 $3,500 Misc & Reserves $2,500 $2,500 Taxes - Real Estate $18,750 $18,750 Utilities $350 $350 Total Expenses $34,710 $35,969 Expenses Per RSF $4.51 $4.67 page 7 of 12

8 Lease Rent Roll Suite Tenant Start Date Expire Date RSF $/RSF Annualized Rent Tenant Renewal Commissions Improvement Term Renewal Increase 2530 Luisa & Son Bakeshop 06/01/ /31/2021 1,488 $18.55 $27,600 $0.00 $ year $0.00 Notes 2532 Hair Salon 08/01/ /31/2021 1,450 $12.41 $18,000 $0.00 $ year $ Atlas Door (MTM) 03/01/ /31/ $22.00 $13,200 $0.00 $ year $ Wellness Center (MTM) 02/01/ /31/ $20.00 $12,000 $0.00 $ year $ Vacant (MTM) 01/01/ /31/ $18.48 $15,300 $0.00 $ year $ Edna's Rest. (MTM) 04/01/ /31/2021 2,588 $14.37 $37,200 $0.00 $ year $ Storag N/A 03/01/ /31/ $0.00 $0 $0.00 $ year $0.00 e page 8 of 12

9 Building Sketch (Page 1) Borrower/Client Property Address Client: 2530 Santa Fe Avenue City Long Beach County Los Angeles State CA Zip Code Lender N/A File No. SANTA FE 21.0' 38.0' 9.0' 10.0' 19.0' 25.0' Storage 8.0' 69.0' #2542 #2540 Edna's Original Homemade Filipino Food #2538 Vacant #2536 The Healthy Stop #2534 Atlas Shippers International #2532 Recy's' Alteration General Merchandise & Beauty Salon #2530 Luisa & Son Bakery 55.0' 12.0' 12.0' 12.0' 21.0' 20.0' Parking Lot Sketch by Apex IV Comments: AREA CALCULATIONS SUMMARY Code Description Net Size Net Totals GBA1 First Floor OTH Storage 80.0 # # # #2536 # # BUILDING AREA BREAKDOWN Breakdown Subtotals First Floor 0.5 x 2.5 x x 5.0 x x x x 20.0 x x x x x x x

10 Pacific Ave SOLD Long Beach, CA Los Angeles County Recorded Buyer: Louis Chitty & Nancy L Downs Recorded Seller: Adeeb J Bashawaty 2145 E Ocean Blvd Long Beach, CA (562) Eclipse Irvine, CA (949) True Buyer: Louis Chitty & Nancy L Downs True Seller: Adeeb J Bashawaty Sale Date: Sale Price: Price/SF: PrFrma Cap Rate: Actual Cap Rate: Parcel No: Financing: Comp ID: 03/14/2017 Bldg Type: $835,000 - Confirmed Year Built/Age: $ GLA: % Land Area: Zoning: Sale Conditions: RetailStorefront Retail/Residential Built 1927 Age: 90 4,484 SF 6,534 SF (0.15 AC) LBCNP 1031 Exchange Down payment of $415,000 (49.7%); $420,000 from Farmers & Merchants Bank of Long Beach Research Status: Confirmed W Willow St SOLD Long Beach, CA Los Angeles County Recorded Buyer: Friendly Investment LLC Recorded Seller: Gpt Gig Boa Portfolio Owner LLC 4645 Hayvenhurst Ave Encino, CA (818) Lexington Ave New York, NY True Buyer: Friendly Investment LLC True Seller: Gramercy Property Trust, Inc. Sale Date: Sale Price: Price/SF: PrFrma Cap Rate: Actual Cap Rate: Parcel No: Financing: Comp ID: 04/04/2017 Bldg Type: $1,860,000 - Confirmed Year Built/Age: $ GLA: % , Down payment of $1,860,000 (100.0%) Research Status: Confirmed Land Area: Zoning: Sale Conditions: RetailBank Built 1962 Age: 55 9,626 SF 35,719 SF (0.82 AC) CCA, Long Beach 1031 Exchange, Investment Triple Net Copyrighted report licensed to NRE Commercial /5/2018 Page 1

11 Demographics Population Characteristic 1 Mile 3 Mile 5 Mile Ages 0-4 1,603 14,054 33,226 Ages 5-9 1,997 17,017 39,873 Ages ,922 16,023 36,878 Ages ,973 16,019 36,561 Ages ,056 16,846 38,691 Ages ,048 16,915 39,698 Ages ,928 16,263 39,757 Ages ,826 15,783 40,215 Ages ,719 15,374 40,516 Ages ,688 14,809 39,948 Ages ,557 13,383 36,424 Ages ,366 11,539 31,615 Ages ,108 9,302 25,738 Ages ,953 19,650 Ages ,860 14,089 Ages ,194 9,576 Ages ,958 6,097 Race Characteristic 1 Mile 3 Mile 5 Mile Non Hispanic White 6,351 69, ,623 Population Black 3,062 25,846 72,941 Population Am In/AK Nat ,031 Household Income 1 Mile 3 Mile 5 Mile Median Household Income $52,546 $43,833 $50,365 < $ ,952 11,055 $10000-$ ,554 12,196 $15000-$ ,816 10,165 $20000-$ ,599 10,562 $25000-$ ,065 9,891 $30000-$ ,246 9,691 $35000-$ ,315 9,329 $40000-$ ,800 8,342 $45000-$ ,771 7,310 $50000-$ ,169 14,695 $60000-$ ,044 18,438 $75000-$ ,010 6,629 20,531 $ $ ,335 13,820 $ $ ,011 7,581 $ $ ,422 7,569 > $ ,561 4,507 Characteristic Housing 1 Mile 3 Mile Housing Units 7,436 71,097 Occupied Housing Units 7,135 65,596 Owner Occupied Housing Units 3,604 24,289 Renter Occupied Housing Units 3,531 41,307 Vacant Housing Units 301 5,501 page 11 of 12

12 Location Map page 12 of 12