SARA S APARTMENTS 240 West 7th Street Long Beach, CA 90813

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1 SARA S APARTMENTS 240 West 7th Street MULTI-FAMILY INVESTMENTS

2 SARA S APARTMENTS 240 West 7th Street Sale Price: $3,200,000 Sale Price/SF: $ Sale Price/Unit: $110,345 Rentable SF: 15,690 SF Lot Size SF: 15,002 SF Units: 29 Floors: 2 Garages: 14 Cap Rate: 1.45% IRR: 9.14% Gross Rent Multiplyer: 14.7 Year Built: 1957 APN: Sara s Apartment property is a 29 unit apartment community located in the bike friendly area of Downtown Long Beach. This asset offers investors the unique opportunity to acquire an investment property with a guaranteed cash flow for 7 years with a potential master-lease in place and long term upside in appreciation value. Long Beach is a non-rent controlled market. The property was originally constructed in 1957 and features 19 (Studio) and ten (1 Bedroom) units, encompassing a gross building area of 15,650 square feet. The building features controlled-access entry, on-site laundry and attached covered parking garages for 14 units. The Subject Property is located at 240 E. 7th Street in the downtown neighborhood of Long Beach. Situated less than 7 blocks from Ocean Boulevard, The Pike Outlet Marketplace, and a mile from the ocean, just 6 blocks from the major retailers and restaurants along Pine Avenue. INVESTMENT SUMMARY For more information please contact: This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE#

3 PARCEL MAP & AERIAL 7th St. Cedar Ave. Park Ct. Pacific Ave. 6th St. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

4 Cedar Avenue 7th Street - DEMOGRAPHICS 1 Mile 3 Miles 5 Miles Population 60, , ,697 Population growth 0.74% 0.72% 0.62% # of Households 22,461 85, ,967 Average Household Income $53,653 $62,289 $74,647 Median Age This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

5 SARA S APARTMENTS 240 West 7th Street Local Description Downtown Long Beach has a relatively compact geographic footprint located atop a bluff overlooking the Pacific Ocean. It is also home to the Port of Long Beach that provides 326,000 jobs regionally and along with the neighboring LA Port brings in 40% of all of the imports for the U.S. In 2013, the city of Long Beach implemented a Downtown Plan. The plan provided for higher residential and mixed use density, relaxed parking requirements, height incentive areas, and adaptive re-use incentives. Today, three years after the Downtown Plan became a reality major changes have occurred. The city has a new county courthouse, the first P3 project for a Courthouse in the United States. Development and reuse of existing buildings are taking place on almost every major corridor within the downtown boundaries and recently the City announced its newest project, a new Civic Center and new Library. For further information, see the City of Long Beach Downtown Plan. City of Long Beach As a Pacific Rim City, Long Beach has many influences economically and culturally. Long Beach has a population of 460,000 people within a 50 square mile radius. The Long Beach Blue line offers public transportation from Long Beach to downtown Los Angeles. The city is also home to Jet Blue airlines offering daily flights to New York, Seattle and other popular destinations. Long Beach offers higher education through its two junior college campuses and California State University Long Beach with over 37,000 students enrolled. Downtown is the heart of the city with all of its famous restaurants, and a growing population of residents who to live in a walkable and bike friendly area with shopping, entertainment, fine dining, and special events all within walking distance to quality housing. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

6 710 Long Beach Blvd Retail Corridor The Pike Outlet Marketplace 7th Street 6th Street Anaheim Station Subject Property 6th Street Station City Place shopping Center 6th Street & Long Beach Blvd. Retail As of 1/26/17

7 LOCAL FREEWAY ACCESS 240 West 7th Street long beach, CA th Street Cedar Avenue 7th Street

8 SOUTH LA LAX CRENSHAW/ LAX LINE Expo/Western ienega/jefferson Expo/La Brea tle G Farmdale awthorne/lennox Expo/Crenshaw Crenshaw LAX Shuttle G Aviation/LAX Wilshire/ Expo/Vermont Vermont/ Athens Wilshire/ Normand 7th St/Metro Ctr Pico LATTC/Ortho Institute Expo Park/USC Jefferson/USC SOUTH LA Hawthorne/Lennox Crenshaw Vermont/ Athens Ver Manchester Harbor Fwy 37th St/ USC Slauson Wilshire/Ver Avalon Rosecrans Manchester Harbor Gateway Transit Ctr Harbor Fwy Westlake/MacArth Avalon Pershing Square DOWNTOWN LA Grand/LATTC Slauson San Pedro St REGIONAL CONNECTOR Washington Vernon Slauson Florence Firestone 103rd St/ Watts Towers Willowbrook/ Rosa Parks Civic Civic Civic Ctr/ Ctr/ Ctr/ Grand Grand Grand Park Park Park Florence Firestone Little Tokyo/ Arts Dist Los Angeles River Chinatown Union Station Amtrak & Metrolink LAX FlyAway METRO RAIL TRANSPORATION Pico/Aliso Pico/Aliso 103rd St/ Watts Towers Willowbrook/ Rosa Parks Compton Artesia Del Amo Long Beach Bl L Mariachi Mariachi Plaza Plaza Lakewood Bl Soto Norwalk Norwalk LAC+USC Medica Indiana Maravilla Metrolink Cal State LA EASTSIDE East LA Civic Ctr El Monte Long Beach Bl Lakewood Bl GATEWAY CITIES Atlantic Norwalk Norwalk Commerce Norwalk/Santa Fe Springs Buena Park Fullerton Corona - West Tran Sta Busway St Service U CONSTRU Me Corona - No Red Lin North Hol Purple Wilshire/W Blue Li Downtown Expo L Downtown Green Redondo B Gold Li East Los A Me Mariposa El Segundo BAY Douglas Redondo Beach SOUTH BAY San Pedro Carson Pacific Coast Hwy San Pedro Rosecrans Harbor Gateway Transit Ctr Carson Pacific Coast Hwy Pacific Pacific Av Downtown Av Long Beach Downtown Long Beach Compton Wardlow Artesia Del Amo Wardlow Willow St Pacific Coast Hwy Anaheim St 5th St 5th St 1st St 1st St GATEWAY CITIES Willow St Pacific Coast Hwy Anaheim St Anaheim Anaheim Canyon ORANGE COUNTY Orange Sara s Apartments is within walking distance to the 5th Street Metro Station located along Long Santa Beach Ana Boulevard between 5th & 6th Streets. The Blue Line offers convenient transportation from Long Beach to Downtown Los Angeles. Tustin It has a daily average ridership of 88,000 commuters. Becky Irvine Blair, CCIM Laguna Niguel/Mission Viejo San Juan Capistrano Metro Blue Line Orange Chatswort Silver L San Pedro Street Ser and San P Re Amtrak amtrak.co Amtrak Metrol metrolinkt Antelo Inla Orang Orang Riv San Be Ventu 91/Per BRE# SAN DI Air LAX Fl

9 UNIT MIX MONTHLY REPORT Units Floor Plan Approx. SqFt. Avg. Rents Monthly Market Rents Monthly 19 Studio 500 $456 $8,664 $1,050 $19, bedroom / 1 bath 600 $862 $7,758 $1,350 $12, bedroom / 1 bath 750 $1,200 $1,200 $1,400 $1, ,650 $17,622 $32,800 This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

10 UNIT MIX & ANNUAL SCHEDULED INCOME UNIT MIX & ANNUAL INCOME REPORT Floor Plan Units Actual Total Market Total Studio 19 $5,472 $103,968 $12,600 $239,400 1 bedroom / 1 bath 9 $10,344 $93,096 $15,000 $145,800 1 bedroom / 1 bath 1 $14,400 $14,400 $16,800 $16,800 Total 29 $211,464 $402,000 ANNUALIZED INCOME Actual Market Gross Potential Rent $211,464 $402,000 Less: Vancancy ($6,344) ($11,060) Misc. Income $6,240 $17,040 Effective Gross Income $211,360 $408,980 Less: Expenses ($166,360) ($127,730) Net Operating Income $45,000 $279,250 This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

11 ANNUAL EXPENSE REPORT ANNUALIZED EXPENSES Actual Market Property Management Fee N/A $16,080 Onsite Managment N/A $5,800 Replacement Reserves N/A $1,200 Building Insurance N/A $7,250 Maintenance N/A $2,900 Repairs N/A $17,400 Taxes - Real Estate N/A $39,000 Utilities N/A $26,100 Total Expenses $166,366 $127,790 Expenses Per RSF $10.63 $8.16 Expenses Per Unit $5,737 $4,404 This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.

12 Address Sale Price Units Price/SF Cap Rate GRM Sale Date 240 W. 7th St 446 Linden Avenue Long Beach, CA Magnolia Avenue Long Beach, CA Martin Luther King Jr. Ave E 7th Street 1164 Daisy Avenue 1725 Lemon Avenue SALES COMPARABLES $3,200, $ % 14.7 N/A $1,850, $ % /30/2016 $2,050, $ % /1/2016 $6,280, $ % /31/2016 $2,600, $ % /23/2016 $4,105, $ % /1/2016 $3,600, $ % /8/2016 Avg. Avg. 4.3% 13.9 Avg. $136,277 Avg. $ This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Corporate BRE# Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.