947 5 TH STREET SANTA MONICA CA 90403

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1 SANTA MONICA CA UNITS FULLY VACANT - NORTH OF WILSHIRE IN SANTA MONICA Kenny Stevens BRE# cell kstevens@concord-re.com OFFERING MEMORANDUM

2 MARKETING PACKAGE OVERVIEW LOCATION OVERVIEW Market Overview Location Overview PRESENTED BY Kenny Stevens BRE# cell PROPERTY SUMMARY Property Highlights Property Details Aerial Photo Parcel Orientation Photography FINANCIALS Financial Overview Rent Roll COMPARABLES Sales Comps Rent Comps 449 South Beverly Drive, First Floor, Beverly Hills, CA BRE#

3 LOCATION SANTA MONICA CA Kenny Stevens BRE# cell This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

4 LOCATION LOCATION OVERVIEW SANTA MONICA, CALIFORNIA One of the most desirable addresses for both living and working, Santa Monica offers a walkable downtown, a blossoming public transportation system, and several notable tourist destinations. Known for its sunshine and beaches, Santa Monica prides itself as a national model for progressive issues, including social services, quality of life for local residents, and environmental leadership. Median family income is $110,000 and average home prices are $1.1 million resulting in beautiful neighborshoods and incredible ROI for real estate investors. This urban village has spectacular views of its vast white sand beaches from Palisades Park, exceptional shopping on Third Street Promenade, main Street and Montana Avenue, and the region s most renowned restaurant scene. Santa Monica stretches for about two miles along the coast before joining up with Venice Beach. A population of nearly 90,000 and a daytime workforce of about 80,000 makes Santa Monica s labor force participation rate among the highest in the world and a substantial daily in-migration of employees. Major employers include UCLA Hospital, St. John s Health Center, RAND Corporation, Universal Music Group, Activision and Santa Monica College. Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to over 500 tech startup companies. Major technology companies have opened offices in the region including Google, Yahoo!, YouTube, BuzzFeed, Facebook, AOL, Electronic Arts, EdgeCast Networks, and MySpace. The region is considered the second- or third-largest tech hub in the world, according to various reports. This has had major impacts on the type and availability of office space and on home prices in Playa Vista, Playa Del Rey, Westchester, Santa Monica, and Venice, as these areas have become more desirable due to this influx. The effects are also spilling over into Marina del Rey which is attracting tech firms. The Expo Line is a light-rail line that runs between Downtown Los Angeles and Santa Monica. The line is named Expo after Exposition Boulevard, which it runs alongside for most of its route. It is one of the six lines in the Metro Rail system, and is operated by the Los Angeles County Metropolitan Transportation Authority (Metro).

5 LOCATION LOCATION OVERVIEW Montana Ave Whole Foods Peet s Coffee Aero Theatre The Courtyard Kitchen Kreation Organic Kafe Blue Plate YogaWorks R+D Kitchen Sushi Sho Lucy Activewear Father s Office Art s Table Santa Monica Pier Wilshire Blvd Whole Foods Sidecar Doughnuts & Coffee Planet Smoothie The Coffee Bean Huckleberry Café Belcampo Restaurant Santa Monica Seafood Market & Café Healthy Spot Dunkin' Donuts Rustic Canyon Third Street Promenade Hillstone The Kabbalah Centre Tender Greens Banana Republic Brookstone Burke Williams AMC Santa Monica 7 AMC Loews Broadway 4 Equinox Nordstrom Soul Cycle Douglas Park Memorial Park Main Street Urth Caffé M Street Kitchen Dogtown Coffee YogaWorks Hotchkiss Park JINYA Ramen Bar Brick + Mortar The Galley Edgemar Center for the Arts Pacific Street Park Stella Barra Pizzeria

6 PROPERTY SUMMARY SANTA MONICA CA Kenny Stevens BRE# cell This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

7 PROPERTY SUMMARY PROPERTY HIGHLIGHTS 6 UNITS NORTH OF WILSHIRE IN SANTA MONICA (4) 1+1 and (2) single Great Santa Monica location, 2 blocks south of Montana Ave 4,632 SQ FT bldg. on a 7,510 SQ FT lot SMR2 zoning COMPLETELY VACANT Courtyard style building Conservative projected income of $2,800 for 1+1 and $2,500 for single

8 PROPERTY SUMMARY PROPERTY DETAILS PROPERTY DESCRIPTION th Street, Prosser Stevens and Concord Real Estate are pleased to present this 6 unit VACANT courtyard style apartment building built in Located north of Wilshire in prime Santa Monica. The property sits on a 7,510 SF lot and consists of (4) one-bedroom/one-bathroom units, and (2) studio units. The property is a short walk to the beach, Montana Ave, 3 rd Street Promenade, and many more attractions. PROPERTY DETAILS Units 6 Major Intersection 5 th Street between Montana and Wilshire Market Santa Monica APN Zoning Type SMR2* Building SF 4,632 SF Lot SF 7,510 SF

9 PROPERTY SUMMARY PROPERTY AERIAL

10 PROPERTY SUMMARY PARCEL ORIENTATION

11 PROPERTY SUMMARY PROPERTY AERIAL

12 PROPERTY SUMMARY PROPERTY PHOTOS 947 5TH STREET

13 PROPERTY SUMMARY PROPERTY PHOTOS 947 5TH STREET

14 PROPERTY SUMMARY PROPERTY PHOTOS 947 5TH STREET

15 PROPERTY SUMMARY PROPERTY PHOTOS

16 FINANCIALS SANTA MONICA CA Kenny Stevens BRE# cell This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

17 FINANCIALS FINANCIAL OVERVIEW - $3,500,000

18 FINANCIALS RENT ROLL

19 COMPARABLES SANTA MONICA CA Kenny Stevens BRE# cell This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

20 COMPARABLES SALES COMPS th Street Santa Monica, CA Ocean Ave Santa Monica, CA UNITS UNIT TYPE 4 1 Bed/1 Bath 2 Studio Comments: Subject Property Listed For $3,550,000 # of Units 6 Building SF 4,632 Price/Unit $591,667 Price/SF $766 Year Built th St Santa Monica, CA Sale Price $4,255,000 COE 5/30/2017 # of Units 7 Building SF 9,282 Price/Unit $607,857 Price/SF $458 Year Built 1963 UNITS UNIT TYPE UNITS UNIT TYPE Studio Sale Price $8,000,000 COE 1/27/2017 # of Units 16 Building SF 7,876 Price/Unit $500,000 Price/SF $1,016 Year Built 1922 Comments: 5parking spaces. Inferior unit mix. Similar age. Better location rd Ave Santa Monica, CA Sale Price $3,770,000 COE 6/12/2017 # of Units 7 Building SF 5,654 Price/Unit $538,571 Price/SF $667 Year Built 1948 UNITS UNIT TYPE Comments: 7 parking spaces. Comments: 10 parking spaces Idaho Ave Santa Monica, CA Sale Price $2,500,000 COE 11/8/2017 # of Units 6 Building SF 3,360 Price/Unit $416,667 Price/SF $744 Year Built 1922 UNITS UNIT TYPE 6 Studio Comments: 4 parking spaces. Inferior unit mix. Similar age. Inferior location.

21 COMPARABLES SALES COMPS Sales Comps 820 4th Street 532 Idaho Ave 927 Ocean Ave 828 3rd Ave

22 COMPARABLES RENT COMPS th Street Santa Monica, CA th Street Santa Monica, CA UNIT TYPE RENT UNIT TYPE RENT $2,800 Studio $2,500 Studio $2,500 Comments: Subject Property Comments: 500 SqFt th Street Santa Monica, CA UNIT TYPE RENT $2, th Street Santa Monica, CA UNIT TYPE RENT $3,100 Comments: 750 SqFt Comments: 750 SqFt 817 4th Street Santa Monica, CA UNIT TYPE RENT $2, Idaho Ave Santa Monica, CA UNIT TYPE RENT Studio $2,575 Comments: 635 SqFt Comments:

23 COMPARABLES RENT COMPS Rent Comps 843 4th Street 817 4th Street 903 7th Street th Street 707 Idaho Ave

24 SANTA MONICA CA Kenny Stevens BRE# cell OFFERING MEMORANDUM