OFFERNIG MEMORANDUM THE SANCTUM ARTISTE. 900 North Hoover St. Silver Lake, CA a 6-unit multifamily investment property

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1 OFFERNIG MEMORANDUM THE SANCTUM ARTISTE 900 North Hoover St. Silver Lake, CA a 6-unit multifamily investment property

2 INVESTMENT OVERVIEW PRICING INFORMATION: PRICE $3,200,000 TERMS ALL CASH BUILDING DESCRIPTION: The Sanctum Artiste, located at 900 N. Hoover Street in Silver Lake, Los Angeles is a nonrent controlled boutique apartment community comprised of six (6) two-bedroom / two-bath townhouse + loft style units, with a total building square footage of roughly 7,662 square feet. Originally constructed in 1926 as a place of worship, The Sanctum Artiste sits on an R3 lot totaling roughly 6,510 sq., ft. Parking includes (8) gated parking spaces. The property has been completely reimagined into one of the most architecturally unique and desired properties in Los Angeles. In keeping with the properties architectural heritage, elements of the properties past such as stained-glass windows, cathedral ceilings, arched walked ways and hardwood floors have been preserved to provide a truly unique living experience that tenants absolutely love. While the exterior pays homage to the past, the interiors have been completely updated to include cable ready units, fiberoptic WiFi, central heat and A.C., redesigned kitchens, stainless steel appliances, granite countertops, microwaves, dishwashers and beautiful spiral staircases connecting each floor of the units. Aesthetically, The Sanctum Artiste is second to none and provides the unbelievable opportunity to acquire a property that truly is one of a kind.

INVESTMENT OVERVIEW LOCATION & COMMUNITY DESCRIPTION: 900 North Hoover Street known as The Sanctum Artiste is located in the heart of Sliver Lake and only 2 blocks from Los Angeles s historic Sunset

3 INVESTMENT OVERVIEW LOCATION & COMMUNITY DESCRIPTION: 900 North Hoover Street known as The Sanctum Artiste is located in the heart of Sliver Lake and only 2 blocks from Los Angeles s historic Sunset Junction, which is the epicenter for dining, entertainment and nightlife. Silver Lake, known in Los Angeles s as the city's hippest neighborhoods, and has drawn comparisons to New York s East Village because of the communities forward-thinking approach to living,. The Sanctum Artiste is located just south of Santa Monica Blvd. and a few blocks West of Sunset, at the corner of Burns Ave and Hoover St., on a quiet residential tree lined street, consisting of well-maintained single-family homes and apartment communities. Because of the buildings central location to the 101, 5 and 110 freeways, Silver Lake provides an easy commute throughout Los Angeles and convenient proximity to other prime neighborhoods including Los Feliz, Echo Park, Downtown L.A., West Hollywood, Hollywood, Atwater Village and Glendale.

4 INVESTMENT HIGHLIGHTS INVESTMENT HIGHLIGHTS: Non Rent-Controlled Asset. Current rents are averaging ± $2.57 PSF versus market rents in the immediate area which average ± $2.85PSF providing significant rental upside. Large units averaging ±971 SF. Fantastic unit mix of (6) 2-Bedroom / 2-Bath Townhouse + Loft Units. Assigned on-site parking and secured keyless entry throughout. Located in the desirable city of Silver Lake and within minutes from shopping, entertainment, and public transportation.

5 PROPERTY FEATURES COMMUNITY AMENITIES: Secured Gated Entry On-Site Assigned Parking Outdoor Community Lounge Secured Keyless Entry INTERIOR FEATURES: Hardwood Floors Modern Finishes Walk-In Closets Stainless Steel Appliances Central Heat & Air Fiberoptic Wi-Fi Equipped Units. Professionally Managed Cable Ready On-Site Washers/Dryers Upgraded Kitchens 2 Blocks From Sunset Junction, Upgraded Full Size Bathrooms Shopping and Entertainment Spiral Staircases. New Water Heater Stained-glass Windows *In select units.

6 SITE INFORMATION ADDRESS: 900 North Hoover Street Silver Lake, CA APN: PROPERTY: CONSTRUCTION: Style Foundation Framing Exterior Roof Paving Wiring Plumbing Loft Slab / Raised Wood Brick & Stucco A-Frame Composite Shingles Asphalt Copper Galvanized / Partial Copper Units 6 Year Built 1926 / 2013 Avg. Unit SF ± 971 Avg. Rent / Unit $2, PARKING: Spaces 8 Ratio 1.33 Spaces Per Unit Avg. Rent / SF $2.57 Total RSF ± 5,827 Total Building SF ± 7,662 # of Buildings 1 Stories 2 Lot Size (Acres) ± 0.14 UTILITIES: Electrical HVAC Water Gas Individually Metered Central Heat & Air Master Metered Individually Metered

7 10124 Laurel Ave. Whittier, CA EXECUTIVE SUMMARY 6 Units SUMMARY CURRENT MARKET PROPOSED FINANCING Purchase Price: $3,200,000 Loan: Down Payment: 100% $3,200,000 Interest: 4.00% Number of Units: 6 Interest Type: 3 Years Fixed Cost per Legal Unit: $533,333 Term (Yrs.): 30 Current GRM: Amortization (Yrs.): 30 Current CAP: Year Built: 3.46% 1926 / % Other Terms: N/A Approx. Building SF: Cost per Building SF: Approx. Lot SF: Zoning: Parking: ANNUAL OPERATING DATA 7,662 $ ,510 LCR3 8 CURRENT MARKET ALL CASH HIGHLIGHTS Scheduled Gross Income: $181,200 $200,700 * Non Rent Controlled Less Vacancy Reserve: ($5,436) 3.00% * ($6,021) 3.00% * * Repurposed Historic Church Gross Operating Income: $175,764 $194,679 * Townhome Style Loft Units Less Expenses: ($65,037) 35.89% * ($65,037) 32.41% * * Stained Glass & Spiral Staircases Net Operating Income: $110,727 $129,642 * Unique & Charming Building Less Debt Service: Location Pre-Tax Cash Flow: $110, % ** $129, % ** * Prime Silver Lake Plus Principal Reduction: #NUM! #NUM! * Near Shopping & Entertainment Total Return Before Taxes: #NUM! #NUM! ** #NUM! #NUM! ** * Quiet Tree Lined Street * As a percentage of Scheduled Gross Income. **As a percentage of Down Payment. SCHEDULED INCOME CURRENT MARKET ESTIMATED ANNUAL EXPENSES No. Beds / Approx. Monthly Avg. Monthly Monthly Monthly Tax Year 2017 of Units Baths Sq.Ft. Rent / Unit Income Rent / Unit Income Tax Rate 1.25% $40, T.H. Loft 923 $2,500 $2,500 $2,595 $2,595 Insurance (New) $3, T.H. Loft 946 $2,500 $2,500 $2,695 $2,695 Maint. / Repairs $3, T.H. Loft 765 $2,300 $2,300 $2,395 $2,395 Utilities $7, T.H. Loft 801 $2,400 $2,400 $2,450 $2,450 Trash $1, T.H. Loft 1,091 $2,500 $2,500 $2,995 $2,995 Misc. / Reserves $1, T.H. Loft 1,301 $2,800 $2,800 $3,495 $3,495 5,827 Monthly Scheduled Rent: $15,000 $16,625 Off-Site Mgmt. $7,296 Laundry Income: Other Income: Monthly SGI: Annual SGI: $100 $15,100 $181,200 $100 $16,725 $200,700 Total Expenses: $65,037 Per Gross Sq. Ft.: $8.49 Utilities Paid by Tenant: Electricity & Gas Expenses Per Unit: $10, This information is secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to its accuracy. All references are approximate. Buyer must verify all information and bears all risk for any inaccuracies.

RENT ROLL PROPERTY ADDRESS CITY STATE ZIP CODE 900 N. Hoover Street TOTAL # OF UNITS # OF VACANT UNITS # OF FURNISHED UNITS 6 0 None Silver Lake CA 90029 # OF SECTION 8 UNITS N/A APT # BEDS/BATHS SQ.

00 Townhouse + Loft E 2 2 1,091 $2,500.00 Townhouse + Loft F 2 2 1,301 $2,800.00 Townhouse + Loft MONTHLY RENTAL INCOME: $15,000.00 MONTHLY LAUNDRY INCOME: $100.

Is the property subject to rent control? YES NO X Electricity Gas X Garbage Heat If YES, what is the current allowable increase per annum?

8 RENT ROLL PROPERTY ADDRESS CITY STATE ZIP CODE 900 N. Hoover Street TOTAL # OF UNITS # OF VACANT UNITS # OF FURNISHED UNITS 6 0 None Silver Lake CA # OF SECTION 8 UNITS N/A APT # BEDS/BATHS SQ. FT. RENTS NOTES DEPOSITS SEC8 Y/N CONCESSIONS A $2, Townhouse + Loft B $2, Townhouse + Loft C $2, Townhouse + Loft D $2, Townhouse + Loft E 2 2 1,091 $2, Townhouse + Loft F 2 2 1,301 $2, Townhouse + Loft MONTHLY RENTAL INCOME: $15, MONTHLY LAUNDRY INCOME: $ MONTHLY STORAGE / PARKING INCOME: $0.00 MONTHLY OTHER INCOME: $0.00 TOTAL GROSS MONTHLY INCOME: $15, ALL COLUMNS & SECTIONS MUST BE COMPLETED What utilities are included in rent? Is the property subject to rent control? YES NO X Electricity Gas X Garbage Heat If YES, what is the current allowable increase per annum? Cable X Water What has been your average monthly occupancy rate over the preceding 12 Months? 98% This information is secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to its accuracy. References to square footage and age are approximate. Buyer must verify all information and bears all risk for any inaccuracies. Rent Roll Page 1 of 1

9 PROPERTY PHOTOS INTERIOR PHOTOS:

10 PROPERTY PHOTOS EXTERIOR PHOTOS:

11 AREA MAPS

12 INVESTMENT CONTACTS Ray Rodriguez Director, National Multi-Family Group Mathew Freedman SVP, National Multi-Family Group Siouxzie Hanes Transaction Coordinator The information provided herein was obtained from sources believed to be reliable; however, Keller Williams Realty Calabasas / KW Commercial makes no guarantees, warranties or representations expressed or implied as to the completeness or accuracy thereof. The representation of this property is submitted subject to errors, omissions, change in price or condition, prior to sale or lease, or withdrawal without notice. This offering is submitted and received with the understanding that all offers for the acquisition of the herein described property will be conducted through Keller Williams Realty Calabasas / KW Commercial. The Seller and Keller Williams Realty Calabasas / KW Commercial expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or terminate discussions with any entity at any time with or without notice.

For SALE. DAVID KAUFMAN Lic # [E] [P] (818) [A] Ventura Boulevard, Suite 200 Sherman Oaks, CA 91403

For SALE. DAVID KAUFMAN Lic # [E] [P] (818) [A] Ventura Boulevard, Suite 200 Sherman Oaks, CA 91403 For SALE David B. Kaufman C: (310) 877-8600 E: david@tamarackres.com DRE Lic #01217537 Multi-Family Operating Information 5500-04 Barton Ave., Los Angeles CA 90038 APN#5535-008-012 SUMMARY ANNUALIZED OPERATING