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Twin Palms20 UNIT APARTMENT COMMUNITY LOCATED IN LOS FELIZ

1821 NORTH ALEXANDRIA AVENUE, LOS ANGELES, CA 90027

APARTMENT EXPERT GROUP

All materials and information received or derived from KW Commercial its 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 govern-mental 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 KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or war-ranty, express or implied, as to accuracy or completeness of the any materials or information provided, de-rived, 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. KW Commercial 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 under contract or in escrow for a transaction is urged to verify all information and to conduct their 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. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party re-garding any proposed transaction

All data and assumptions regarding financial performance, including that used for financial modeling pur-poses, 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 from or for the property. Legal ques-tions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with appli-cable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Stu-dio City in compliance with all applicable fair housing and equal opportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibil-ity of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction

CONFIDENTIALITY & DISCLAIMER

Presented By:

Rich JohnsMultifamily Investment Advisor818.432.1575richjohns@kw.comCalBRE Lic. #01432215

Adam ZunderMultifamily Investment Advisor818.554.5560azunder@kw.comCalBRE Lic. #01821053

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04081321

PROPERTY DESCRIPTION

LOCATION

EXECUTIVE SUMMARY

PAGE

DEMOGRAPHICS

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PROPERTY DESCRIPTION

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THE OFFERING

Rich Johns and Adam Zunder of KW Commercial are pleased to exclusively offer for sale, The Twin Palm apartments, a 20 Unit apartment community in a premier Hollywood-Los Feliz locale.

The offering, built in 1962, is located at 1821 North Alexandria Avenue, Los Angeles CA 90027 and consists of 20 apartment homes with an excellent unit composition with tremendous rental upside.

1821 North Alexandria Avenue, built in 1962,encompasses +/-16,902 SF of improvements featuring exceptionally large units consisting of Ten (10) 2 Bed-room and 2 Bathroom, Nine (9) 1 Bedroom 1 Bath and One (1) Single unit. Many units feature large balconies

The amenity package includes gated entry, courtyard, onsite laundry facilities and individually metered electricity and gas utilities.

Rents at the subject property are far below market levels, thus representing a strong long term investment opportunity in a premier Los Angeles location.

Area rents have increased significantly each year with virtually no vacancies in the area, because of its enormous popularity, which caters to young professionals, mostly in the entertainment business and related industries.

Located between two prime avenues, Hollywood Boulevard and Franklin Avenue, the property is strategically located within close proximity to employ-ers, downtown L.A. and the San Fernando Valley. The property boasts the best of LA, trendy, hip and upscale Los Feliz, a unique neighborhood tucked between Griffith Park and the Hollywood Hills, in an area with extremely low vacancy rates, high demand and rising prices for houses and condominiums. The village in Los Feliz, with over 250 merchants, runs parallel to Hillhurst Avenue to the east and Vermont Avenue to the west. It includes portions of Hollywood Boulevard, Los Feliz and Sunset as well as many adjacent streets between the two main thoroughfares of Hillhurst and Vermont.

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PROPERTY DESCRIPTION

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AN EXTREMELY RARE OFFERING • Premier Hollywood - Los Feliz Location Near Franklin

Avenue

• Large Unit Square Footage Averaging +/-843 SF per unit

• Value Add Opportunity / Excellent Rental Upside

Potential

• Exceptional Unit Mix:

50% of Units (10) consist of 2 Bed / 2 Bath

45% of Units (9) consist of 1 Bed / 1 Bath

5% of Units (1) consist of Single units

• Great Onsite Parking for 31 Vehicles

• Hollywood boasts a dynamic economy and over

$2 billion has been invested in its infrastructure with

additional projects on-line.

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HIGHLIGHTS

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HIGHLIGHTS

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INTERIOR LIVING SPACES

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EXECUTIVE SUMMARY

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EXECUTIVE SUMMARY

PROPERTY DETAILS1821 NORTH ALEXANDRIA AVENUEProperty Address: Assessor’s Parcel Number: Buildings: Year Built: Land Use: Zoning: Stories:

SITE DESCRIPTIONUnits: Gross Square Footage: Lot Size Square Footage:

UTILITIESElectric: Gas: Water: Sewer:

CONSTRUCTIONFraming: Exterior: Roof: Topography:

MECHANICALFire Protection: Water Heaters:

1821 North Alexandria Avenue, Los Angeles, CA 90027 5589-034-028

One1962

ApartmentsLARD1.5

Two

2016,90215,800

Tenant Pays - LADWPTenant Pays - LADWPOwner Pays - LADWPOwner Pays - LADWP

Wood FrameStucco

FlatFlat

Smoke DetectorsCentral Boiler With a Storage Tank

These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by Keller Williams Realty/KW Commercial or its personnel, and all

interested parties must independently verify its accuracy and completeness.

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FINANCIAL SUMMARY 1821 North Alexandria AvenueLos Angeles, CA 90027

FINANCIAL INDICATORSPrice

Down Payment

Current CAP

Market CAP

Current GRM

Market GRM

Cost Per SF

Cost Per Unit

Cash on Cash Return

Expenses Per Unit

Expenses Per Sq Ft

$6,300,000

$6,300,000

4.0%

6.9%

15.85

10.80

$373

$315,000

4.0%

$6,944

$8.22

BUILDING DATANo. of Units: 20

196215,800 16,902

ESTIMATED ANNUALIZED EXPENSES:New Property Taxes UtilitiesWaste Removal Property Insurance Registration Fees Landscaping Repairs & Maintenance Pest Control Offsite Management (3.5%)Onsite Management Reserves (1.5% of Annual Income)

Total Estimated Expenses

$78,750$14,000$2,100$5,915$1,080$960$9,000$1,200$13,911$6,000$5,962

-$138,878

Notations:Repairs & Maintenance / Underwritten based on market rates: Repairs and Maintenance is under-written as a pro forma expense of $450 per unit Service: Expenses are projected for Trash Removal ($175/mo), Pest Control ($100/mo), Landscap-ing ($80/mo) based on market rates, Utilities: Utilities are based upon $700 per unit/year Management Fee: Projected at 3.5% of Total Annual Income Real Estate Taxes: Taxes have been underwritten at a tax rate of 1.25% Property Insurance: The Current and Pro Forma Insurance expense are based upon $0.35/SF/YearCapital Reserves: Capital Reserves have been underwritten at 1.5% of Annual Gross Income On-Site Management: Expense Side / Estimated at $500 per month

Year BuiltLot Size SF:Gross SF:Parking Spaces 31

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FINANCIAL SUMMARY 1821 North Alexandria AvenueLos Angeles, CA 90027

These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by Keller Williams Realty/KW Commercial or its personnel, and all

interested parties must independently verify its accuracy and completeness.

ESTIMATED ANNUALIZATION OPERATING DATA CURRENT MARKET

Scheduled Gross Income Less Vacancy Gross Operating Income Less Expenses

Net Operating Income Less Loan Payment Pre-Tax Cash Flow Return on Investment

CURRENT MARKET

10 9 1Total Rental IncomePlusLaundry Income Estimate Total Monthly IncomeTotal Annual Income

2 Bed / 2 Bath 1 Bed / 1 Bath

Single

$1,917 $1,417$982

$19,166 $12,749 $982 $32,897

$225$33,122$397,469

$2,850 $2,050$1,350

$28,500 $18,450 $1,450 $48,400

$225 $48,625 $583,500

$397,469 ($7,949)$389,520 ($138,878)

$250,641 $0 $250,641

3.97%

$583,500 ($11,670)$571,830 ($138,878)

$432,952 $0 $432,952

6.87%

2.0% 2.0%

35.7%

SOURCE OF INCOME

Average Rent Rent/SF Average Rent Rent/SF Unit Unit Type Approx SF

1,050650500

$1.72 $2.29$1.96 $1.92

$2.71 $3.15 $2.90 $2.86

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RENT ROLL

1234567891011121415161718192021

OccupiedOccupiedOccupiedOccupiedVacantOccupiedVacantOccupiedVacantOccupiedOccupiedOccupiedVacantOccupiedOccupiedOccupiedVacantOccupiedOccupiedOccupied

Single2 Bed / 2 Bath 1 Bed / 1 Bath 1 Bed / 1 Bath 2 Bed / 2 Bath2 Bed / 2 Bath 2 Bed / 2 Bath 1 Bed / 1 Bath 1 Bed / 1 Bath2 Bed / 2 Bath 1 Bed / 1 Bath 2 Bed / 2 Bath 1 Bed / 1 Bath 1 Bed / 1 Bath 2 Bed / 2 Bath2 Bed / 2 Bath 2 Bed / 2 Bath 1 Bed / 1 Bath1 Bed / 1 Bath 2 Bed / 2 Bath

These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by Keller Williams Realty/KW Commercial or its personnel, and all interested parties must independently verify its accuracy and completeness.

CURRENTUNIT STATUS UNIT TYPE APPROX UNITS SIZE RENT RENT

MARKET

TOTAL

UNITS RENT RENT

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5001050650650

105010501050650650

1050650

1050650650

105010501050650650

1050

$982.11$1,642.70$1,193.61$904.02$2,800.00$1,325.81$2,800.00$1,239.61$2,050.00$1,548.61$1,400.00$1,651.61$2,050.00$1,314.88$1,359.69$1,594.96$2,800.00$1,290.61$1,306.61$1,642.70

$32,897.53

$1,350$2,800$2,050$2,050$2,800$2,800$2,800$2,050$2,050$2,800$2,050$2,800$2,050$2,050$2,800$2,800$2,800$2,050$2,050$2,800

$47,800

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UNIT STATUS UNIT TYPE APPROX UNITS SIZE RENT RENT

LOCATION

UNITS RENT RENT

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LOS FELIZHOLLYWOOD

1821 NORTH ALEXANDRIA AVE.LOS ANGELES CA 90027

NORTH V

IRGIL STR

EET

NORTH VERMONT AVENUE

SUNSET BLVD.

SANTA MONICA BLVD.

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SUNSET JUNCTION

Located between two prime avenues, Hollywood Boulevard and Franklin Avenue, the property is strategically located within close proximity to employers, downtown L.A. and the San Fernando Valley. The property boasts the best of LA, trendy, hip and upscale Los Feliz, a unique neighborhood tucked between Griffith Park and the Hollywood Hills, in an area with extremely low vacancy rates, high demand and rising prices for houses and condominiums. The village in Los Feliz, with over 250 merchants, runs parallel to Hillhurst Ave-nue to the east and Vermont Avenue to the west. It includes portions of Hollywood Boulevard, Los Feliz and Sunset as well as many adjacent streets between the two main thorough-fares of Hillhurst and Vermont.

Hollywood boasts a dynamic economy and over $2 billion has been invested in its infrastructure with additional projects on-line. A few notables are Hollywood and Highland, Arc-Light Cinemas, the Hollywood Metro Rail and Children’s Hos-pital with its new $350 million facilities and Kaiser Permanente with $200 million in improvements.

“Positioned in the middle of a highly desirable rental market which is known for its artistic communities, high end retail and restaurants and many world-class entertainment venues

BOUTIQUECOMMUNITY

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THREE PATENT SOCIETIES....

ONE LOCATION

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Located a 10-15 minute walk north of the subject property along Vermont and Hillhurst Avenues, Los Feliz Village features a wide array of local restaurants, boutique shops, artsy coffee shops, theaters, gas-trobus, and parks. Notable establishments include The Dresden Room, which was prominently featured in the movie Swingers; Fred 62, a retro 1960’s Cslifornia 24-hour din-er, and Alcove Cafe & Bakery, a converted bungalow which has become one of the most reviewed and most popular brunch destinations in Los Angeles. Locals enjoy Barnsdall Art Park which plays host to Los Feliz farmer’s market and local theater at Los Feliz Five Star Theaters know for its signa-ture marquee signage. The Rockwell: Table & Stage, another local favorite, it offers live music performances combined with seasonal cuisine and cocktails.

LOS FELIZ

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1821 North Alexandria Avenue is located blocks away from the core of three of the most enticing neighborhoods in Los An-geles County- Hollywood, Silver Lake, and Los Feliz. Due to its eclectic location and walkability, residents enjoy unparallaled access to a wide variety of employment, entertainment, and cultural expereiences that few other neighborhoods in Los An-geles can match.

As part of its recent restoration, Hollywood continues to set the bar in terms of being a major employment center and highly sought after location for a younger more hip clinetele that is looking for a true urban experience. Moreover, with the merging of old Hollywood and today’s tech savvy startups, the area is ripe for continued success in enticing a younger renter de-mographic.

Following this uprising of trendy and eclec-tic residents is a diverse base of restau-rants, bars, nighclubs, and retail shops that bring a wide range of cultural experiences to the area. Within the existing location, residents have the opportunity to walk to nearby restaurants and cafes, take the metro into the heart of Hollywood, or spend the afternoon in an adjacent neighborhood via short commute.

SUNSET JUNCTION

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World Famous due to its arts and entertainment imdustry. Hollywood is a densely populated and vibrant part of Los Angeles. With recent uprising, the area offers over 75 restaurants, world famous nightclubs, and music venues, and countless jobs in the entertainment and gaming industries.

HOLLYWOOD

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t

TRANSIT AND PEDESTRIAN ORIENTED

87

67

62

WALK SCORE

“VERY WALKABLE” Most errands can be accomplished on foot

“GOOD TRANSIT”Many nearby public transportation options.

“BIKEABLE”Some hills, good bike Mostly flat, some bike lanes.

Residents at 1821 North Alexandria Avenue are also within a short drive of some of the most desirable submarkets in Los Angeles County. The immediately adjacent neighborhoods (Hollywood and Silver Lake) are within a 10-15 minute drive while other employment centers such as Silver Lake, West Hollywood and Downtown Los Angeles are within 25 minute drive (during light traffic condi-tions).

TRANSIT SCORE

BIKE SCORE

18 22MINUTES TO

WEST HOLLYWOODMINUTES TO

DOWNTOWN LA

10MINUTES TOSILVER LAKE

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DEMOGRAPHICS

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DEMOGRAPHICSSNAPSHOT

LOS FELIZ

TOTAL POPULATIONMEDIAN AGEMEDIAN AGE (MALE)MEDIAN AGE (FEMALE)

POPULATION 0.5 MILES 1 MILE 1.5 MILES 20,51033.232.334.5

63,51534.433.835.2

155,22434.934.235.9

HOUSEHOLDS & INCOME 0.5 MILES 1 MILE 1.5 MILES TOTAL HOUSEHOLDS# OF PERSONS PER HHAVERAGE HH INCOMEAVERAGE HH HOUSE VALUE

7,8242.6$49,012$538,547

24,7502.6$55,634$666,991

59,4112.6$57,375$667,160

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Presented By:

Rich JohnsMultifamily Investment Advisor

818.432.1575richjohns@kw.com

CalBRE Lic. #01432215

1821NORTH ALEXANDRIA, LOS ANGELES, CA 90027

Adam ZunderMultifamily Investment Advisor

818.554.5560azunder@kw.com

CalBRE Lic. #01821053