1036 N. GENESEEAVENUEWEST HOLLYWOODWest Hollywood, CA 90046

Offering Memorandum

Non-Endorsement and Disclaimer NoticeThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.

SAM LIBEROWSenior Vice President InvestmentsDirector, National Multi Housing Group 16830 Ventura Blvd. Suite 100Encino, CA 91436(818) 212-2795 Direct (818) 698-6464 Fax Sam.Liberow@marcusmillichap.com License: CA 01933858

EXCLUSIVELY LISTED BY:

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TABLE OF CONTENTS1

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Executive Summary

Investment Highlights

Property Overview

Financial Analysis

Comparables

Area Overview

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Marcus & Millichap is pleased to present 1036 N. Genesee Ave, a 10-unit apartment building located in the heart of West Hollywood!

Built in 1960, this two-story building happens to be the perfect opportunity for investors looking to acquire a passive investment with future upside potential.

Ideally located in one of the most desirable West Hollywood neighborhoods known for its great walkability, this property’s curb appeal showcases the recent renovations completed over the last few years. With a new roof, the completion of soft-story retrofitting, and an extensive renovation of 50% of the units, the current owners have managed to create a significant upside in rental income, while still leaving room for a value-add component.

EXECUTIVE SUMMARY

DEMOGRAPHICS

$107,177 $97,102 898,6985-Mile RadiusAverage Household Income

2-Mile RadiusAverage Household Income

5-Mile Radius Population

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PROPERTY OVERVIEW

FINANCIAL OVERVIEW

Property Address 1036 N Genesee Ave.

Building SF 8,190 SF

Lot Size 6,565 SF

Units 10

APN 5530-015-013

Year Built 1960

Zoning WDR3C

Sales Price $3,550,000

CAP Rate 3.93%GRM 15.70Price/Unit $355,000Price/SF $433.46ProForma CAP Rate 6.93%

ProForma GRM 10.57

WALKSCORE97/100

Walkscore of 97 meaning daily errands can be done by foot.

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INVESTMENT HIGHLIGHTSProperty Description: 1036 N. Genesee Ave is a 10-unit apartment building built in 1960. This 2-story building provides 8,190 rentable SF and is situated on a 6,565 SF lot. The property consists of eight (8) one bed/one baths, one (1) two bed/one bath, and one (1) two bed/two bath apartments.

Location: Located in a prime West Hollywood neighborhood, just south of Santa Monica Blvd and east of Fairfax Ave, this property is situated in one of the most desirable areas of West Hollywood, also known for its excellent walkability. Furthermore, it is surrounded by several highly-rated public schools including Laurel Elementary and Fairfax high school.

Walkability: With a walkscore of 97, this location offers tenants the possibility to walk to the world-famous Sunset Strip and Santa Monica Blvd, both offering an array of restaurants, shops, entertainment, and nightlife.

Property Perks: This property has recently undergone significant improvements including a new roof and the completion of soft story retrofitting. Furthermore, four (4) of the one bedrooms have been extensively remodeled with new kitchens, bathrooms, flooring, and include a washer/dryer inside the unit.

Amenities: On-site amenities include a laundry facility as well as gated parking.

Stabilized with Value-add: This property offers investors the perfect opportunity to acquire a passive investment with future upside potential. The recent renovations have increased the income significantly, while still leaving room for a value-add component for a new owner.

PROXIMITY TO AMENITIES

ADDRESS 1036 N. GENESEE AVE.WEST HOLLYWOOD, CA

ShoppingSanta Monica BlvdHollywood / HighlandSunset Blvd

Hospitals/ Urgent CareCedar-Sinai Medical CenterSouthern California Hospital at HollywoodChildren’s Hospital Los Angeles

GroceriesTrader Joe’sRalph’sWhole FoodsGelson’s

WHY BUY 1036 N GENESEE AVE?

MAJOR EMPLOYERS IN THE IMMEDIATE AREA

• Kaiser Permanente Los Angeles• Cedar-Sinai Medical Center• LAC and USC Medical Center• UCLA Medical Center• Sony Pictures Entertainment

FitnessEquinoxGold’s Gym24 Hour Fitness

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PRIDE OF OWNERSHIPPROXIMITY TO HOLLYWOOD BLVDLuxury ShoppingUpscale RestaurantsWalk of Fame

VALUE-ADD OPPORTUNITY

Significant Upside in Rents Through the Implementation of the Renovation Program

HIGH-END DEMOGRAPHICS

Average HH Income of $107,717 Within a 2-Mile Radius

Property Located in the Heart of West HollywoodFitness

EquinoxGold’s Gym24 Hour Fitness

PROPERTY OVERVIEW

THE OFFERINGProperty Address 1036 N Genesee AvePrice $3,550,000Assessors Parcel Number 5530-015-013Zoning WDR3C

SITE DESCRIPTIONNumber of Units 10Number of Buildings 1Number of Stories 2Year Built/Renovated 1960Rentable Square Feet 8,190 SFLot Size 6,565 SFType of Ownership Fee SimpleParking 10 Spaces

UTILITIESWater Landlord PaysElectric Tenant PaysGas Tenant Pays

CONSTRUCTIONFoundation ConcreteFraming Wood FrameExterior StuccoRoof Flat

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PLAT MAP

PROPERTY PHOTOS

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UNIT 6 L IVING ROOM & KITCHEN

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UNIT 6 BED & BATH

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FAIRFAX AVE

SUNSET STRIPPACIFIC DESIGN CENTER

WHOLE FOODSKUNG PAO BISTRO

LIQUOR MART

H & R BLOCK U.S POST OFFICE

SUBWAYLAUREL HARDWARE

7-ELEVEN

GENESEE AVE

BRICK FITNESS

SUBJECT PROPERTY

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WHOLE FOODSKUNG PAO BISTRO

LIQUOR MART BRISTOL FARMS

MAJOR AMENITIES

Whole Foods Market 0.3 Miles

L.A. Post Office 0.3 Miles

Trader Joe’s 0.6 Miles

Bank of America 0.7 Miles

FedEx Office Print & Ship 0.7 Miles

Melrose Trading Post 0.9 Miles

Original Farmer’s Market 1.4 Miles

Sprouts 1.4 Miles

CVS 1.5 Miles

The Grove 1.6 Miles

Beverly Center 2.0 Miles

NEARBY HOSPITALS

Cedars-Sinai 2.2 Miles

Hollywood Urgent Care 2.3 Miles

Kaiser Permanente 4.2 Miles

NEARBY FITNESS CENTER

Retrofit Gym 0.2 Miles

24 Hour Fitness 1.3 Miles

Equinox West Hollywood 1.7 Miles

Golds Gym 1.8 Miles

LARCHMONT CHARTER SCHOOL

AREA OVERVIEW

F INANCIAL ANALYSIS

UNIT NO UNIT TYPE CURRENT RENT MARKET RENT MOVE IN DATES UNIT NOTES

1 2+1 $865 $3,100 10/1/1984

2 1+1 $2,600 $2,600 1/31/2020 Renovated / WD in Unit

3 2+2 $1,044 $3,150 6/15/19944 1+1 $1,521 $2,600 12/1/20145 1+1 $1,465 $2,600 3/15/20146 1+1 $2,600 $2,600 1/15/2020 Renovated / WD in Unit

7 1+1 $1,146 $2,600 7/1/20038 1+1 $1,472 $2,600 2/15/20149 1+1 $2,600 $2,600 Vacant Renovated / WD in Unit

10 1+1 $2,675 $2,675 7/21/2020 Renovated / WD in Unit

Total $17,988 $27,125

RENT ROLL

Rent Disclaimer:Any rent or income information in this offering memorandum, with the exception of actual, historical rent collections, represent good faith projections of potential future rent only, and Marcus & Millichap makes no representations as to whether such rent may actually be attainable. Local, state, and federal laws regarding restrictions on rent increases may make these projections impossible, and Buyer and its advisors should conduct their own investigation to determine whether such rent increases are legally permitted and reasonably attainable.

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NO OF UNITS UNIT TYPE

8 1+11 2+11 2+2

10 Total Units

CURRENT RENTS MARKET RENTS

NO. OF UNITS BR/BA MO. RENT/UNIT MO. INCOME MO. RENT/UNIT MO. INCOME

8 1+1 $1,146 - $2,675 $16,079 $2,675 $20,8751 2+1 $865 $865 $3,100 $3,1001 2+2 $1,044 $1,044 $3,150 $3,150

Total Scheduled Rent: $17,988 $27,125Laundry: $50 $50Other Income (Storage Income): $800 $800Monthly Scheduled Gross Income: $18,838 $27,975Annual Scheduled Gross Income: $226,056 $335,700

SCHEDULED INCOME

UNIT MIX

F INANCIAL ANALYSIS

PRICING PROPOSED FINANCING

Sales Price $3,550,000

Price/Unit $355,000

Price/SF $433.46CAP Rate 3.93%ProForma CAP Rate 6.93%GRM 15.70ProForma GRM 10.57Cash-on-Cash 2.03%

Loan Amount $1,952,500Term 5 YearsInterest Rate 3.65%Annual Payment $107,183

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Notes: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. Reference to square footage or age are approximate. Buyer must verify information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.

EXPENSES ANNUAL PER SF PER UNIT

Real Estate Taxes $42,017 $5.13 $4,201

Insurance $3,276 $0.40 $328

Utilities $9,600 $1,17 $960

Maintenance & Repairs $8,771 $1.07 $877

Trash $1,275 $0.15 $128

Reserves $2,500 $0.31 $250

Landscape $2,160 $0.26 $216

Off-Site Management $8,771 $1.07 $877

Pest Control $636 $0.08 $64

West Hollywood Registration $720 $0.09 $72

Total $79,726 $9.73 $7,973

INCOME & EXPENSE % CURRENT RENTS % MARKET RENTS

Scheduled Gross Income: $226,056 $335,700Vacancy/ Bad Debt: 3% $6,782 3% $10,071

Gross Operating Income: $219,274 $325,629Less Expenses: 35% $79,726 24% $79,726

Net Operating Income: $139,548 $245,903Less Loan Payments: $107,183 $107,183

Debt Coverage Ratio: 1.30 2.29

Pre-Tax Cash Flow: 2.03% $32,365 8.68% $138,720

Plus Principal Reduction Yr 1: $36,524 $36,524

Total Return Before Taxes: 4.31% $68,889 10.97% $175,243

ANNUALIZED OPERATING DATA

SALES COMPARABLES

SUBJECT PROPERTY

ADDRESS 1036 N GENESEE AVE

Sales Price $3,550,000Price/Unit $355,000Price/SF $433.46CAP Rate 3.93%GRM 15.70No. of Units 10Year Built 1960

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ADDRESS ADDRESS

ADDRESS ADDRESS

ADDRESS 929 N CURSON AVE

Close of Escrow 1/8/2020Sales Price $6,500,000Price/Unit $361,111Price/SF $443.63CAP Rate 4.22%GRM 14.67No. of Units 18Year Built 1959

ADDRESS 1263 N CRESCENT HEIGHTS BLVD

Close of Escrow 6/22/2020Sales Price $3,725,000Price/Unit $465,625Price/SF $529.42CAP Rate 3.60%GRM 16.00No. of Units 8Year Built 1939

ADDRESS 1300-1308 N CURSON AVE

Close of Escrow 11/8/2019Sales Price $8,057,000Price/Unit $402,850Price/SF $470.51CAP Rate 3.62%GRM 16.09No. of Units 20Year Built 1961

ADDRESS 1235 N OGDEN DR

Close of Escrow 6/30/2020Sales Price $3,395,000Price/Unit $377,222Price/SF $342.93CAP Rate 2.67%GRM 19.42No. of Units 9Year Built 1964

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3 4

ADDRESS ADDRESS

ADDRESS ADDRESS

ADDRESS 920 WESTBOURNE DR

Close of Escrow 12/1/2020Sales Price $3,910,000Price/Unit $391,000Price/SF $510.44CAP Rate 4.39%GRM 15.23No. of Units 10Year Built 1955

ADDRESS 725 N EDINBURGH AVE

Close of Escrow 5/5/2020Sales Price $2,100,000Price/Unit $262,500Price/SF $448.33CAP Rate 3.21%GRM 14.75No. of Units 8Year Built 1947

ADDRESS 7471 HOLLYWOOD BLVD

Close of Escrow 7/10/2020Sales Price $3,845,000Price/Unit $384,500Price/SF $415.32CAP Rate 4.20%GRM 15.80No. of Units 10Year Built 1950

ADDRESS 1415 N HARPER AVE

Close of Escrow 10/21/2020Sales Price $3,400,000Price/Unit $340,000Price/SF $426.07CAP Rate 4.18%GRM 15.88No. of Units 10Year Built 1953

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GRM

SALES COMPARABLESCAP RATE

4.5

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

AVG. 3.76%

1036 N GENESEE

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1300-1308N CURSON

AVE

1263 NCRESCENTHEIGHTS

BLVD

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DR

AVG. 15.98

21.00

18.90

16.80

14.70

12.60

10.50

8.40

6.30

4.20

2.10

0.00

920WESTBOURNE

DR

7471HOLLYWOOD

BLVD

725 N EDINBURGH

AVE

1415 NHARPER

AVE

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AVE

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AVE

1300-1308N CURSON

AVE

1263 NCRESCENTHEIGHTS

BLVD

1235 NOGDEN

DR

920WESTBOURNE

DR

7471HOLLYWOOD

BLVD

725 N EDINBURGH

AVE

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PRICE/SF

PRICE/UNIT

AVG. $448.33

AVG. $373,101

$600.00

$540.00

$480.00

$420.00

$360.00

$300.00

$240.00

$180.00

$120.00

$60.00

$0.00

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$450,000

$400,000

$350,000

$300,000

$250,000

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$100,000

$50,000

$0

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AVE

929 N CURSON

AVE

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AVE

1263 NCRESCENTHEIGHTS

BLVD

1235 NOGDEN

DR

920WESTBOURNE

DR

7471HOLLYWOOD

BLVD

725 N EDINBURGH

AVE

1415 NHARPER

AVE

1036 N GENESEE

AVE

929 N CURSON

AVE

1300-1308N CURSON

AVE

1263 NCRESCENTHEIGHTS

BLVD

1235 NOGDEN

DR

920WESTBOURNE

DR

7471HOLLYWOOD

BLVD

725 N EDINBURGH

AVE

1415 NHARPER

AVE

RENT COMPARABLES

SUBJECT PROPERTY 1036 N GENESEE AVE.

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UNIT TYPE UNITS TOTAL RENT

1+1 8 $16,079 2+1 1 $865 2+2 1 $1,044

Total 10Year Built 1960

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ADDRESS 1031 N CURSON AVE ADDRESS 939 N OGDEN DR

UNIT TYPE UNITS RENT

1+1 1 $2,695 - $2,745

Total 1Year Built 1963

UNIT TYPE UNITS RENT

2+1 1 $3,195

Total 1Year Built 1957

1 2

ADDRESS 7607 NORTON AVE

3

UNIT TYPE UNITS RENT

2+2 1 $3,290

Total 1Year Built 1965

AVERAGE RENT

1 BEDROOM

AVG. $2,720

1036 NGENESEE AVE

1031 N CURSON AVE

$3,000

$2,700

$2,400

$2,100

$1,800

$1,500

$1,200

$900

$600

$300

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2 BEDROOM

7607 NORTON AVE

$4,000

$3,600

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$2,400

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$1,600

$1,200

$800

$400

$0

AVG. $3,243

1036 NGENESEE AVE 7607 NORTON

AVE

West Hollywood is centrally located south of the Hollywood Hills, west of Hollywood,east of Beverly Hills and north of Beverly Grove. This neighborhood benefits from a verydense, compact urban form with small lots, mixed land use, and a walkable street grid.According to Walkscore, West Hollywood is the most walkable city in California.

As one of the most vibrant and exciting parts of Los Angeles, WeHo is home to fantasticrestaurants, hotels, nightlife, and shopping. Its creative energy is palpable throughout theentire neighborhood, which has become a destination for modern furniture and decor.With no shortage of things to do in West Hollywood, it’s a popular place for both touristsand locals to visit.

Its inhabitants are mostly of young professionals and celebrities. While this city draws itsshare of out-of-towners, the locals represent an equally diverse crowd. Dynamic nightlifeand entertainment make WeHo a very hip, dynamic, and late-to-bed locale. The overallexperience is a melting pot of traditions, whether it’s innovative vegan food, couturefashion, or street art and statues. This is not a neighborhood populated by the faint ofheart, so arrive ready for excitement.

Creative people flock to West Hollywood, not only for its ample club and bar offerings,but also for its hopping art scene. Peruse the many galleries, pick up pieces from bothestablished and up-and-coming artists, or check out the music scene at one of the manylocal venues.

AREA OVERVIEW

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POINTS OF INTEREST

SANTA MONICA BLVD

MELROSE AVENUE

SUNSET STRIP

MAJOR AMENITIES

Beverly Center 2.0 Miles

Melrose Avenue 1.7 Miles

Kodak Theater 1.8 Miles

Beverly Hills 2.9 Miles

The Grove 1.5 Miles

Pacific Design Center 1.8 Miles

TCL Chinese Theatre 1.9 Miles

Sunset Strip 1.4 Miles

DEMOGRAPHICS 2 MILE 3 MILES 5 MILES

Population:

2025 Projection 167,747 903,982 3,148,875

2020 Estimate 165,980 898,698 3,134,193

Growth 2010-2020 0.9% 0.6% 0.5%

Households:

2025 Projection 92,152 384,204 1,193,012

2020 Estimate 91,519 382,752 1,188,177

Growth 2010 - 2020 0.6% 0.5% 0.5%

Owner Occupied 19,107 97,485 369,627

Renter Occupied 72,412 285,267 818,550

Avg Household Income $107,177 $97,102 $93,812

Median Household Income $75,467 $65,063 $63,718

2020 Households by Household Income:

< $25,000 16,847 80,880 265,281

$25,000 - 50,000 14,344 74,263 227,790

$50,000 - 75,000 14,363 59,788 179,963

$75,000 - 100,000 11,009 42,195 131,606

$100,000 - 125,000 8,654 32,235 102,811

$125,000 - 150,000 5,514 19,531 64,337

$150,000 - 200,000 7,231 24,576 79,731

$200,000+ 13,557 49,286 136,658

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SAM LIBEROWSenior Vice President InvestmentsDirector, Ntnl Multi Housing Group

16830 Ventura Blvd. Suite 100Encino, CA 91436(818) 212-2795 Direct (818) 698-6464 Fax Sam.Liberow@marcusmillichap.com License: CA 01933858

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