GRIBIN PROPERTIES 12 UNIT APARTMENT BUILDING W ANGELENO AVENUE BURBANK, CA 91506

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1 12 UNIT APARTMENT BUILDING W ANGELENO AVENUE BURBANK, CA FOR MORE INFORMATION PLEASE CONTACT Rob Fullarton Tel: (818) x 127 Cell: (818) fullarton.rob@gmail.com CalBRE #

2 INVESTMENT SUMMARY PRICE $3,395,000 NUMBER OF UNITS 12 BUILDING SIZE 10,296 SF LOT SIZE 18,870 SF YEAR BUILT 1948 PARKING Ten Single Garages APN ZONING R3 Interior Amenities: Large units: 858 square feet Appliances Individual water heaters Refrigerator (tenant owned) Gas Stoves-Ranges Garbage Disposal Wood floors/carpets All two bedrooms one bath Hall closets Front & rear entrance Tub/Shower in each bathroom Wall heaters/window AC units Individual meter for electric & gas Exterior Amenities: 10 single car garages newer doors Open interior courtyard Three stairwells from courtyard to upstairs units Rear storage room for owners use Large front lawn Small deck/balcony for upstairs units Mature Landscaping Near Disney Studios & 101/134/5 freeways No rent control in City of Burbank

3 PLAT MAP W ANGELENO AVENUE, BURBANK

4 AERIAL MAP W ANGELENO AVENUE, BURBANK

5 P D Property Name: Apartments Property Addresses: W Angeleno Avenue Burbank, CA Year Built: 1948 Metering: Electric, Gas Individual Sewer, Water, Master Total Rentable Area: Approximately 10,296 square feet Type/Style: Two-story walk-up courtyard building Total Units: 12 Unit Mix: All two bedroom / one bath Land Area: Approximately 18,870 square feet Zoning: Burbank R3 Exterior: Wood Frame & Stucco HVAC: Wall heaters and window AC Hot Water: Each unit has hot water heater in kitchen Parcel Number: Location: The Apartments are located in close proximity to Olive Avenue and Victory Boulevard providing the building with great access to public transportation and the shopping corridor of downtown Burbank. The building s location offers tenants quick access to Universal City, San Fernando Valley and Glendale/Pasadena. The building offers 10 single car garages for parking and storage. Good street parking. There is no rent control in Burbank allowing ownership a value added opportunity to improve the building and increase rents. Immediate Area: The Apartments are adjacent to a commercial district and downtown Burbank. A large city park is one block to the north. Other surrounding uses are multifamily residential apartments and single family housing. W Angeleno Avenue is a mature landscaped street with large trees and quiet neighborhood. The property is located within one mile of Costco and downtown Burbank and minutes to St Joseph Hospital and Universal City/Toluca Lake ANGELNO AVENUE, BURBANK

6 PRO FORMA INCOME & EXPENSES ESTIMATED INCOME Gross Rental Income $210,600 Vacancy (3%) $6,318 Effective Gross Income $204,282 ESTIMATED EXPENSES Expenses Real Property Tax $40,000 Maintenance / Repairs $7,000 Services (Gardener, Pest, Supplies ) $5,000 Utilities $7,802 Insurance $5,584 Management $10,000 Total Expenses $75,386 FINANCIAL OVERVIEW Price $3,395,000 Number of Units 12 Price/Unit $282,917 Rentable Square Feet 10,296 Price/SF $ CAP Rate - Current 3.8% CAP Rate - Pro Forma 4.7% GRM - Current GRM - Pro Forma Lot Size 18,870 Type of Ownership Fee Simple Net Operating Income $128, W ANGELENO AVENUE, BURBANK

7 GRIBIN PROPERTIES RENT ROLL W ANGELENO AVE, BURBANK

8 W. Angeleno Avenue, Burbank Sale Comparables December 2017 # Type Of Property Address Of Property Sale Date Sales Price Avg SF/Unit # Of Units Bldg SF Lot Size Age Parking Unit Breakdown/ Avg Rent /Unit Gross Income Gross Multiplier Overall Cap Rate Price Per Unit Price/Bldg Area 1 8 Unit Apartment Complex 602 E Tujunga Ave Burbank, CA Unit Apartment Complex 302 Sinclair Avenue Glendale, CA Unit Apartment Complex 512 Griswold Street Glendale, CA Unit Apartment Complex 440 E San Jose Avenue Burbank, CA Unit Apartment Complex 1021 W Clark Avenue Burbank, CA Unit Apartment Complex 517 E Cedar Avenue Burbank, CA S 12 Unit Apartment Complex W Angeleno Avenue Burbank, CA /31/2017 $2,650,000 9/8/2017 $3,100,000 8/9/2017 $3,135,000 6/1/2017 $2,700,000 10/21/2016 $3,000,000 9/28/2016 $2,450,000 N/A 894 SF 8 units 7,159 SF 948 SF 10 units 9,480 SF 860 SF 10 units 8,595 SF 1062 SF 8 units 8,501 SF 884 SF 11 units 9,725 SF 930 SF 8 units 7,441 SF 858 SF 12 units 10,296 SF 7,841 SF pkg 12,850 SF 1954 N/A 7,998 SF pkg 8,995 SF pkg 16,644 SF 1961 N/A 7,536 SF 1961 N/A 18,870 SF pkg 5 (1+1) 3 (2+2) $1, (2+1) $1,410 2 (1+1) 8 (2+1.5) $1,417 2 (1+1)/ 2 (1+1.5) 4 ( ) $1,476 3 (1+1)/ 7 (2+1) 1 (2+2) $1,230 6 (1+1) 2 ( ) $1, (2+1) $1,470 $135, GRM 3.30% Cap Rate $170, GRM 3.64% Cap Rate $170, GRM 3.57% Cap Rate $141, GRM 3.28% Cap Rate $162, GRM 3.44% Cap Rate $103, GRM 2.63% Cap Rate $210,600 gross income $331,250/unit $370.16/SF $310,000/unit $326.87/SF $313,500/unit $364.75/SF $337,500/unit $317.61/SF $272,727/unit $308.04/SF $306,250/unit $329.26/SF

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