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1794 WEST 24TH STREET, LOS ANGELES, CA 900187-UNIT APARTMENT COMMUNITY LOCATED IN THE CENTER OF LOS ANGELES

APARTMENT EXPERT GROUP

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EXCLUSIVELY LISTED BY:

RICH JOHNSMultifamily AdvisorKW CommercialCalBRE Lic#01432215 4061 Laurel Canyon Blvd.Studio City, CA 91604 T 818.432.1575richjohns@kw.com

ADAM ZUNDERMultifamily AdvisorKW CommercialCalBRE Lic#013493494061 Laurel Canyon Blvd.Studio City, CA 91604 T 818. 432.1634azunder@kw.com

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 governmental 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 warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, 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 regarding any proposed transactionAll data and assumptions regarding financial performance, including that used for financial modeling purposes, 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 condi-tions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions 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 applicable 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 Studio 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 possibility 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 AGREEMENT

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1794 W. 24THSTREET

7 - U n i t A p a r t m e n t C o m m u n i t y L o c a t e d i n P i c o R o b e r t s o n

04071116

PROPERTY DESCRIPTION

LOCATION OVERVIEW

SALE COMPARABLES

FINANCIAL SUMMARY

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PROPERTYDESCRIPTION

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PROPERTYDESCRIPTION

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Rich Johns and Adam Zunder are pleased to present 1794 West 24th Street, located in the heart of the Adams sub-market in Los Angeles. This apartment building consists of 7 units, all One Bedroom and One Bathrooms Units.

The offering, built in 1922, consists of two buildings on a 6,651 SF parcel. The location yields a stable tenant base with a historically low vacancy rate. The property has parking spaces for 4 vehicles.

The property consists of 5 Units in the front building and 2 Units in the rear structure. The building is seperately metered for electrical utilities.

The property is located just East of Western Avenue and north of Adams Blvd. in the Adams area. It’s centrally located next to Metro Transit stops, major City Thoroughfares and Freeways, the AME Church and in the direct path of USC progress and development.

T h EO f f E R I N g

h I g h l I g h T S

• Locatedin the Heart of Los Angeles

• All One Bedroom Units

• Low Current Rents Providing Long Term Upside Potential

• Historically Strong Rental Area and Stable Tenant Base

• Walking Distance to Transit Stops, Retail, AME Church and Major Transportation Corridors

• Gated Onsite Parking for Four (4) Vehicles

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EXTERIOR LIVING SPACES fINANCIALANAlYSIS

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fINANCIALANAlYSIS

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Price $13,020Down Payment

$1,050,000

$1,050,000$3,150

Down Payment % 100% $2,355Current CAP 4.0% $378Market CAP 8.0% $1,750Current GRM 15.91

ESTIMATED ANNUALIZED EXPENSESNew Property TaxesUtilities (Gas, Electical, Water)Property InsuranceRegistration FeesRepairs & Maint EstimateOffsite Management (3.5%) $2,310

Market GRM 9.65 Total Estimated Expenses $22,963Cost Per SF $355.45Cost Per Unit $150,000

Cash on Cash Return 3.97%Expenses Per Unit ‐$3,280Expenses Per Sq Ft ($7.77)

Units 7Year Built 1901/1922Lot Sq Ft 6,651Bldg Gross Sq Ft 2,954Parking Spaces 4 Spaces

FINANCIAL INDICATORS

BUILDING DATA

FINANCIAL SUMMARY 1794 West 24th StreetLos Angeles, CA 90018

NotesRepairs & Maintenance: Repairs and Maintenance is underwritten as a pro forma expense of $250 per unit / year Utilities: Utilities are  based upon the 2014 operations / Pre‐Renovation. The utilities include water & sewer, individual unit electricity and gas, and common area electricityProperty Insurance: Based upon actual policy inplaceUtilities: Estimated at $450 per unit / year based market rates

# of Units Avg. Rent Total Avg. Rent Income

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Unit Type

1 Bedroom / 1 Bathroom $786 $5,500 $1,295 $9,065

Total Rental Income $5,500 $9,065

$5,500 $9,065Total Monthly IncomeTotal Annual Income $66,000 $108,780

$66,000 $108,7802.0% ($1,320) 2.0% ($2,176)

$64,680 $106,604

EST. ANNUALIZED OPERATING DATA

Scheduled Gross IncomeLess VacancyGross Operating IncomeLess Expenses 35.5% $22,963 21.1% $22,963

$41,717 $83,641$0 $0

Net Operating IncomeLess Loan PaymentPre‐Tax Cash Flow $41,717 $83,641

Return on Investment 4.0% 8.0%

CURRENT MARKET

MARKET ‐ Post RenovationCURRENTSOURCE OF INCOME

FINANCIAL SUMMARY 1794 West 24th StreetLos Angeles, CA 90018

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RENT ROLL

UNIT STATUS UNIT TYPE RENT RENT

1 Occupied 1 Bedroom / 1 Bathroom $900 $1,2952 Occupied 1 Bedroom / 1 Bathroom $875 $1,2953 Occupied 1 Bedroom / 1 Bathroom $600 $1,2954 Occupied 1 Bedroom / 1 Bathroom $625 $1,2955 Occupied 1 Bedroom / 1 Bathroom $700 $1,2956 Occupied 1 Bedroom / 1 Bathroom $800 $1,2957 Occupied 1 Bedroom / 1 Bathroom $1,000 $1,295

$5,500 $9,065

CURRENT MARKET

1794 West 24th StreetLos Angeles, CA 90018

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1794 West 24th StreetLos Angeles, CA 90018

Assessor’s Parcel Number: Buildings: Year Built: Land Use: Zoning: Stories:

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

UTILITIESElectric: Gas:

CONSTRUCTIONFoundation: Framing: Exterior: Roof: Topography:

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.

1794 West 24th Street5058-021-036

One1922

ApartmentsLARD2

Two

72,9546,651

Separately Metered - LADWPSeparately Metered - LADWP

Raised FoundationWood Frame

StuccoPitched/Flat

Flat

lOCATIONOVERVIEW

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lOCATIONOVERVIEW

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At the turn of the 20th century the West Adams–Normandie area was one of Los Angeles’ most prestigious communities. Subdivided in 1902 by eminent Pasadena developer and build-er George W. Stimson, the location attracted many socially prominent individuals seeking suburban ambiance adjacent to the downtown area. Percy H. Clark, one of the primary real estate developers of Beverly Hills, built many of the custom homes in the neighborhood, including his own residence on Van Buren Place. Overall, the architecture of the HPOZ rep-resents the transition from Victorian era styles of the late 1800s to the Arts and Crafts aesthetic of the early 1900s. Adams-Nor-mandie features several large groupings of Shingle and Crafts-man style residences. The Van Buren Place Historic District, list-ed in the National Register of Historic Places, is located in the heart of the HPOZ.

West-Adams Normandie Location

“The Adams-Normandie neighborhood touches Pico-Union on the north, University Park on the east, the Exposition Park neighborhood on the south and Jefferson Park on the west

LOCATION FUNDAMENTALSThe Adams-Normandie neighborhood touches Pico-Union on the north, University Park on the east, the Exposition Park neighborhood on the south and Jefferson Park on the west . It is bounded by the Santa Monica Freeway on the north, Western Avenue on the west, Vermont Avenue on the east and Jefferson Boulevard on the south.

URBAN LIVING WITH WALKABILITYAs the most densely populated area in Los Angeles, West Adams is a highly walkable submarket served by multiple Metro rail and bus lines. Residents can travel on foot to complete their daily errands and stroll to the many restaurants, clubs, chic hotels and restaurants that make up West Adams.

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1794WEST 24TH STREET

LAWEST-ADAMS

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SAlECOMPARABlES

1794 WEST 24TH STREETLOS ANGELES CA 90018

1794 WEST 24TH STREETLOS ANGELES CA 90018

UNIVERSITY OF SOUTHERN CALIFORNIA

SOUT

H W

ESTE

RN A

VE.

SOUT

H N

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DIE

AV

E.

WEST ADAMS BLVD.

LOS ANGELES MEMORIAL COLISEUM

EXPOSITION PARKROSE GARDEN

LOS ANGELES MEMORIALSPORTS ARENA

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SAlECOMPARABlES

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SALE COMPARABLES MAP

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2)

3)

4)

2030 3rd Avenue

1916 6th Avenue

2912-2916 9th Avenue

1878 West 22nd Street

1794 West 24th Street

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2030 3rd Avenue

1916 6th Avenue

2912-2916 9th Avenue

1878 West 22nd Street

1794 West 24th Street

1794 West 24th StreetLos Angeles, CA 90018

1

2

3

4

2030 3rd AvenueLos Angeles, CA 90018

1916 6th AvenueLos Angeles, CA 90018

2912-2916 9th AvenueLos Angeles, CA 90018

1878 West 22nd StreetLos Angeles, CA 90018

1922

1921

1913

1930

1894

7

5

7

11

5

2,954

3,854

5,577

7,130

3,624

-

$895,000

$1,143,000

$1,475,000

$795,000

-

4.83%

4.15%

5.36%

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-

13.18

14.51

11.50

-

-

$179,000

$163,286

$134,091

$156,000

-

$232.23

$204.95

$206.87

$153.33

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10/07/2016

05/12/2017

08/03/2016

09/29/2016

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PROPERTY BUILT UNITS BLDG.SF PRICE CAP GRM $/UNIT $/SF CLOSED STUDIO 1BDR 2BDR

SALE COMPARABLES

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PRESENTED BY:

RICH JOHNSMultifamily Investment Advisor818.432.1575richjohns@kw.comCalBRE Lic. #01432215 APARTMENT EXPERT GROUP

ADAM ZUNDERMultifamily Advisor818. 432.1634azunder@kw.comCalBRE Lic#01349349