A TIER 3 MID-WILSHIRE DEVELOPMENT OPPORTUNITY

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957 + 961 ARAPAHOE STREET LOS ANGELES CA 90006 A TIER 3 MID-WILSHIRE DEVELOPMENT OPPORTUNITY FRANK EVANISKO 818.

1 ARAPAHOE STREET LOS ANGELES CA A TIER 3 MID-WILSHIRE DEVELOPMENT OPPORTUNITY FRANK EVANISKO Frank@EvaniskoRealty.com BRE# MATTHEW KANNER MKanner@TheKannerGroup.com BRE#

EXCLUSIVELY LISTED BY: FRANK EVANISKO Evanisko Realty & Investment, Inc. 818.985.9700 Frank@EvaniskoRealty.com MATTHEW KANNER The Kanner Group 323.605.2114 MKanner@TheKannerGroup.

2 EXCLUSIVELY LISTED BY: FRANK EVANISKO Evanisko Realty & Investment, Inc MATTHEW KANNER The Kanner Group We have compiled the information in this package, and it has been secured by sources we believe reliable. We attempted to compile the information to the best of our abilities, but we make no representations or warranties, express or implied as to the accuracy of the information. The viewer of this package must verify the information and bears all risk for any inaccuracies.

Densification Aerial View/Plat Map Current Rent Roll Terms 2 COMPARABLES

3 1 SITE OVERVIEW Existing Condition/Allowable Envelope Introduction Summary Zoning Calculations Tier 3 Proof of Qualification Transit and Densification Aerial View/Plat Map Current Rent Roll Terms 2 COMPARABLES Rent Comparables Stabilized Sales Comparables 3 MARKET OVERVIEW The Neigborhood Metro Map

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5 1 SITE OVERVIEW Existing Condition/Allowable Envelope Introduction Summary Zoning Calculations Tier 3 Proof of Qualification Transit and Densification Aerial View/Plat Map Current Rent Roll Terms

6 EXISTING CONDITION 6

7 ALLOWABLE ENVELOPE 7

8 INTRODUCTION The co-listing brokers, Evanisko Realty & Investment, Inc. and The Kanner Group of KW Commercial, are pleased to present, on an exclusive basis, the arapahomes apartment development site for sale (the Property ). The arapahomes development site is the perfect property for the multifamily developer looking to acquire land at one of Los Angeles most rapidly transforming transit oriented locations without having to embark on a complex, lengthy, interpretive, and discretionary entitlement process. From an entitlement standpoint, the arapahomes site is probably one of the most perfectly situated, sized, and zoned double lots we ve come across. Truly a on-of-a-kind double lot assemblage (one owner) perfectly ripe for re-development. The development concept rendering contained herein is not based on an actual set of architectural plans but rather a visual expression of the allowable by-right development envelop when the maximum allowable FAR and unit count densities under the applicable TOC Tier 3 guidelines are applied. This brochure outlines the applicable market rental data and land use calculations under the existing zoning and applicable Tier 3 TOC guidelines. The Property is available for $4,500,000. 8

SUMMARY 957 and 961 Arapahoe Street Los Angeles, CA 90006 APN: 5076-005-007, 008 Total Land Area: 17,100 SF Zoning: R4-1 [42.

] Height Limit: None [Q] Conditions: None Specific Plan: None CRA: None Site Plan Review: None HPOZ or Specific Historic

9 SUMMARY 957 and 961 Arapahoe Street Los Angeles, CA APN: , 008 Total Land Area: 17,100 SF Zoning: R4-1 [42.8 Base Density Calc.] Height Limit: None [Q] Conditions: None Specific Plan: None CRA: None Site Plan Review: None HPOZ or Specific Historic Designations: None Linkage Fee: None [If TOC is Used] TOC: Tier 3 [70% Bonus Density + 50% FAR Increase] 957 Arapahoe 4,544 SF SFR YBLT: Building Line 120 Front Arapahoe Street 961 Arapahoe 3,788 SF Triplex YBLT: 1908 N Depth 9

ZONING CALCULATIONS UNIT CALCULATIONS F.A.R. CALCULATIONS Land Area: 17,100 SF Land Area: 17,100 SF Base Density [R4-1] 42.

10 ZONING CALCULATIONS UNIT CALCULATIONS F.A.R. CALCULATIONS Land Area: 17,100 SF Land Area: 17,100 SF Base Density [R4-1] Rounds to 43 Base FAR 3:1 17,100 X 3 = 51,300 SF TOC Tier 3 [70% Bonus] 73.1 Units Rounds to 74 Total Units TOC Tier 3 [50% Bonus] 76,950 SF Gross Buildable The development concept rendering contained herein is not based on an actual set of architectural plans but rather a visual expression of the allowable by-right development envelop when the maximum allowable FAR and unit count densities under the applicable TOC Tier 3 guidelines are applied. The project expressed herein will not require any discretionary entitlement approvals. 10% ELI 7.4 Units Rounds to 8 ELI Units Assuming Under 80% Efficiency Market RSO Units 66 Average Units Size +/- 800 SF 10

11 TIER 3 PROOF OF QUALIFICATION Intersection of Rapid Line 728 and Bus Route 603 [600 FT] 11

TRANSIT AND DENSIFICATION The arapahomes site is

cluster of Tier 4 and Tier 3 Transit Epicenters

The level of transit infrastructure at this

growth and densification at this specific

The development of apartments at the subject

12 TRANSIT AND DENSIFICATION The arapahomes site is situated in the midst of the most compressed cluster of Tier 4 and Tier 3 Transit Epicenters outside of DTLA. The level of transit infrastructure at this location guarantees continued rapid population growth and densification at this specific location. The development of apartments at the subject location will prove to be profitable under both short and long term investment cycles. Downtown Los Angeles 1.4 Miles East of Subject North 12

13 AERIAL VIEW/PLAT MAP

CURRENT RENT ROLL UNIT LEASE TERM RENT AMOUNT 961 Arapahoe, Los Angeles, CA 90006 Mo. to Mo.

14 CURRENT RENT ROLL UNIT LEASE TERM RENT AMOUNT 961 Arapahoe, Los Angeles, CA Mo. to Mo. $2, ¼ Arapahoe, Los Angeles, CA Mo. to Mo. $1, ¼ Arapahoe, Los Angeles, CA Mo. to Mo. $1, Arapahoe, Los Angeles, CA [SFR] Vacant $0

15 TERMS CONTRACT DATE Day 1 CLOSE OF ESCROW Day 60 INITIAL FEASIBILITY EXPIRATION Buyer deposit to become non-refundable and released to Seller. Day 30 Seller is committed only to a sale reflective of the transactional timeline above. All requests for property tours should be addressed and coordinated through Evanisko Realty & Investment, Inc. or The Kanner Group. Tours will be conducted on an appointment-only basis. 15

17 2 COMPARABLES Rent Comparables Stabilized Sales Comparables

18 RENT COMPARABLES 18

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20 RENT COMPARABLES 20

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22 RENT COMPARABLES 22

24 STABILIZED SALES COMPARABLES 24

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26 STABILIZED SALES COMPARABLES 26

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28 STABILIZED SALES COMPARABLES 28

31 3 MARKET OVERVIEW The Neighborhood Metro Map

THE NEIGHBORHOOD MID-WILSHIRE The Koreatown/Mid-Wilshire adjacent district of Los Angeles is a vibrant international community bounded by Hollywood to the north, Westlake and Downtown to the east,

32 THE NEIGHBORHOOD MID-WILSHIRE The Koreatown/Mid-Wilshire adjacent district of Los Angeles is a vibrant international community bounded by Hollywood to the north, Westlake and Downtown to the east, Mid-City to the south, and Miracle Mile and Hancock Park to the west. arapahomes is ideally situated within close proximity to Downtown Los Angeles (1.2 miles), Hollywood (4.3 miles), and Beverly Hills (6.5 miles). The 101 is within 1.7 miles, the 10 freeway lies within 1.2 miles, and the 110 freeway lies just 2.8 miles to the southeast. Mid-Wilshire is home to several Metro Purple and Red Line stations providing easy access to Downtown, Hollywood, and Studio City. Popular entertainment destinations such as LA Live, the Nokia Theater, and Staples center are conveniently located just 1.3 miles southeast. Koreatown is located within the Mid-Wilshire district. The neighborhood covers less than 3 square miles but boasts a population of over 120,000, making it one of the highest population densities in Los Angeles. The neighborhood was named for the influx of Korean immigrants in the 1960s following an easing of immigration restrictions. Although the Korean community remains prominent in the area with many Korean-owned businesses, in more recent times the neighborhood s demographics have greatly diversified. Since the late 1980s the area has seen prosperity and development, leading to a thriving nightlife scene with a large concentration of exclusive clubs and bars. Koreatown has thus become a trendy, chic destination for young professionals priced out of Los Feliz, West Hollywood and Miracle Mile. Mid-Wilshire reflects the city s smart growth initiative, promoting a vibrant, compact urban area that attracts businesses and restaurants while expanding the range of transportation, employment and housing opportunities. Private overseas investments further fueled construction and developments in the early 2000s, complimenting public infrastructure projects of the 1990s, such as the completion of two subway lines which connect Mid-Wilshire to the financial center of downtown Los Angeles. The development of the Red and Purple lines have capitalized Mid- Wilshire s prime location by relieving traffic congestion and increasing the visibility of the area and mobility of its residents. Mid-Wilshire is a mile away from the 101 freeway, 3 miles west of Downtown Los Angeles and 4 miles southeast of Hollywood. The Red Line runs through Mid-Wilshire along Vermont Ave., connecting Downtown LA to Hollywood, while the shorter Purple line runs along Wilshire Blvd., linking Mid-Wilshire directly to Downtown Los Angeles. 32

North Hollywood Universal City/Studios Hollywood/Highland Hollywood/Vine Hollywood/Western Vermont/Sunset A regional commercial center, the area houses a dense collection of high-rise office

This concentration fosters strong retail, cultural amenities and job opportunities. Wilshire Blvd.

33 North Hollywood Universal City/Studios Hollywood/Highland Hollywood/Vine Hollywood/Western Vermont/Sunset A regional commercial center, the area houses a dense collection of high-rise office buildings, large hotels, mini-malls, churches, night clubs, private houses, as well as both high-rise and low-rise apartment and condominium buildings. This concentration fosters strong retail, cultural amenities and job opportunities. Wilshire Blvd., flanked by high-rise commercial offices, serves as the employment center s main artery, as well as a primary thoroughfare providing easy access to and from the district. Neighborhood attractions include the Art Deco landmark Wiltern Theatre, the HMS Bounty bar and restaurant at the historic Gaylord Apartments, and the trendy Line Hotel, home to Chef Roy Choi s Commissary and Pot restaurants. Wilshire Blvd. has also seen several new multi-family developments, such as the $200 million mixed-use Vermont Project, a two-tower, 464-unit luxury apartment building completed in May Two other mixed-use developments were recently completed - an 18-story development project at the corner of Wilshire and Virgil and a 398-unit property located at 6th and Virgil with a 22,000 sq. ft., ground-level Target store. Vermont/Santa Monica Vermont/Beverly Wilshire/Vermont Wilshire/Normandie Wilshire/Western OPENING 2023 Wilshire/La Brea Wilshire/Fairfax Wilshire/La Cienega OPENING 2024 Wilshire/Rodeo Century City Westwood/UCLA Westwood/VA Hospital 33

34 Metro Rail & Busway METRO MAP Chatsworth Amtrak & Metrolink Nordhoff Roscoe Sherman Way Warner Ctr Canoga Canoga PACIFIC OCEAN De De Soto Soto Pierce Pierce College Tampa Tampa WESTSIDE 26th 26th St/Bergamot St/Bergamot Downtown Santa Monica 17th St/SMC SANTA MONICA Expo/Bundy Expo/Bundy SAN FERNANDO VALLEY Expo/Sepulveda Expo/Sepulveda LAX FlyAway Reseda Reseda Balboa Balboa Woodley Sepulveda Sepulveda Westwood/Rancho Park Palms Culver City Van Van Nuys Nuys Woodman Los Angeles River PURPLE LINE EXTENSION La Cienega/Jefferson Expo/La Brea Farmdale LAX Mariposa El Segundo Douglas Redondo Beach Valley College Laurel Canyon Expo/Crenshaw CRENSHAW/ LAX LINE Expo/Western LAX Shuttle G North Hollywood CENTRAL LA Aviation/LAX Universal City/Studio City Wilshire/Western Expo/Vermont Hollywood/Highland Hollywood/Highland Hollywood/Vine Hollywood/Vine 7th St/Metro Ctr Pico LATTC/Ortho Institute Expo Park/USC Jefferson/USC LAX FlyAway Wilshire/ Normandie SOUTH LA Vermont/ Athens Hawthorne/Lennox Crenshaw Hollywood/Western Vermont/Sunset Vermont/Sunset Vermont/Santa Vermont/Santa Monica Monica Vermont/Beverly 37th St/ USC Slauson Wilshire/Vermont Rosecrans Harbor Gateway Transit Ctr Carson Westlake/MacArthur Park Pershing Square DOWNTOWN LA Grand/LATTC Manchester Harbor Fwy Avalon San Pedro St Artesia REGIONAL CONNECTOR Washington Vernon Slauson Florence Firestone Compton Civic Ctr/ Grand Grand Park Park Park Park Park 103rd St/ Watts Towers Willowbrook/ Rosa Parks Little Tokyo/ Arts Dist Pico/Aliso Pico/Aliso Los Angeles River Lake Del Mar Fillmore Long Beach Bl Allen Memorial Park South Pasadena Highland Park Southwest Museum Heritage Sq Lincoln/Cypress Chinatown Union Station Amtrak & Metrolink LAX FlyAway Lakewood Bl GATEWAY CITIES Del Amo Wardlow Sierra Madre Villa Arcadia Mariachi Mariachi Plaza Plaza Soto Indiana Norwalk Norwalk Maravilla Monrovia Metrolink LAC+USC Medical Ctr Cal State LA East LA Civic Ctr Duarte/City of Hope Irwindale SAN GABRIEL VALLEY El Monte Atlantic EASTSIDE APU/Citrus College Azusa Downtown GOLD LINE FOOTHILL EXTENSION Rail Station Transfer Station Busway Street Service Metro Rail Red Line North Hollywood to Union Station Purple Line Wilshire/Western to Union Station Blue Line Downtown LA to Long Beach Expo Line Downtown LA to Santa Monica Green Line Redondo Beach to Norwalk Gold Line East Los Angeles to Azusa Orange Line Chatsworth to North Hollywood Amtrak amtrak.com Metro Busway Silver Line San Pedro to El Monte Street Service in Downtown LA and San Pedro Regional Rail Metrolink metrolinktrains.com Airport Shuttle LAX FlyAway lawa.org/flyaway LAX Shuttle (free) lawa.org Busway Station UNDER CONSTRUCTION DEC 2017 Subject to Change MAY 2016 Subject to Change MM 2017 LACMTA SOUTH BAY Pacific Coast Hwy Willow St Pacific Coast Hwy Anaheim St = Subject Property Pacific Av 5th St 34 San Pedro Downtown Long Beach 1st St LAX FlyAway

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36 EXISTING CONDITION ALLOWABLE ENVELOPE

FRANK EVANISKO PRESIDENT 818.985.9700 Frank@EvaniskoRealty.com www.evaniskorealty.com BRE# 01383591 MATTHEW KANNER SENIOR COMMERCIAL DIRECTOR 323.605.2114 MKanner@TheKannerGroup.com www.thekannergroup.

References to square footage or age are approximate. Any elevation or rendering is provided for reference purposes only. A buyer must verify the information and bears all risk for any inaccuracies.

37 FRANK EVANISKO PRESIDENT BRE# MATTHEW KANNER SENIOR COMMERCIAL DIRECTOR BRE# 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. Any elevation or rendering is provided for reference purposes only. A buyer must verify the information and bears all risk for any inaccuracies. All materials and information received or derived from the Listing Brokers, their directors, officers, agents, advisors, affiliates and/or any third-party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the Property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the Property, projected financial performance of the Property for any party s intended use or any and all other matters. Neither Listing Broker nor their respective directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. The Listing Brokers will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or in escrow for a transaction is urged to verify all information and to conduct its own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. The Listing Brokers shall not serve as financial advisors to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents or potential rents from or for the Property. Legal questions should be referred to an attorney. Tax questions should be discussed with a certified public accountant or tax attorney. Title questions should be referred to a title officer or real estate and/or land-use counsel. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed with appropriate engineers, architects, contractors, other consultants and/or governmental agencies.

R O W D T L A R O W D T L A R O W D T L A

R O W D T L A R O W D T L A R O W D T L A 1 Historically known as the LA Terminal Market, ROW DTLA and its impressive industrial buildings were designed in part by famed LA architect John Parkinson and built from 1917 to 1923. Sprawled over 30