9940 Robbins Drive Revised...9940 ROBBINS DR SALES COMPARABLES rentpropertyname1 rentpropertyaddress1 rentpropertyname1 rentpropertyaddress1 rentpropertyname1 rentpropertyaddress1

9940 ROBBINS DRBeverly Hills, CA 90212

Offering Memorandum

1

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe 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 andshould 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, unverifiedinformation 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 duediligence 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, thefuture 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 orasbestos, 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 anytenant'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 bereliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding thesematters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures toverify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

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 onbehalf 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 otherprofessionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro formafinancial 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.

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 orname 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.

9940 ROBBINS DRBeverly Hills, CAACT ID ZAB0120832

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TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02Rent Roll Summary

Rent Roll Detail

Operating Statement

Notes

Pricing Detail

Acquisition Financing

MARKET COMPARABLES 03Sales Comparables

Rent Comparables

9940 ROBBINS DR

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9940 ROBBINS DR

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INVESTMENT

OVERVIEW

9940 ROBBINS DR

#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

CBS Enterprises 20,000

Green Equity Investors IV LP 15,000

Ucla Health System Auxiliary 11,154

Yf Art Holdings Gp LLC 10,600

Live Nation Worldwide Inc 8,930

Cedars-Sinai Medical Center 5,334

Earth Technology Corp USA 4,655

Magic Workforce Solutions LLC 4,539

Ticketmaster Entertainment LLC 4,390

West Los Angeles V A Med Ctr 4,374

Greater Los Angeles Health 4,050

University Cal Los Angeles 4,006

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2019 Estimate Pop 24,681 284,894 699,895

2010 Census Pop 23,203 267,733 660,751

2019 Estimate HH 12,504 132,624 322,638

2010 Census HH 11,607 122,986 299,934

Median HH Income $111,914 $83,393 $76,848

Per Capita Income $93,554 $63,978 $59,163

Average HH Income $184,446 $135,422 $127,290

UNIT MIX

NUMBEROF UNITS UNIT TYPE

APPROX.SQUARE FEET

5 1 Bed/1 Bath

3 1 Bed/1 Bath Vacant

8 Total 5,969

VITAL DATA

Price $4,400,000 CURRENT YEAR 1

Loan Type Proposed New CAP Rate 2.78% 4.8%

Interest Rate / Amortization 0% / 0 Years GRM 19.96 13.93

Price/Unit $550,000 Net Operating Income $122,485 $211,348

Price/SF $737.14 Net Cash Flow After Debt Service 2.78% / $122,485 4.80% / $211,348

Number of Units 8 Total Return 2.78% / $122,485 4.80% / $211,348

Rentable Square Feet 5,969

Year Built 1936

Lot Size 0.16 acre(s)

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9940 ROBBINS DR

OFFERING SUMMARY

Private and Shared Patio

Laundry Room

Four Bike Racks

One Large and Two Smaller Storage Spaces in Building

Five Parking Spaces with Private Storage Above Each

Three Vacant Units

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to present the exclusively listed 8-unit apartment building in prime Beverly Hills. Perfectly located at 9940 Robbins Dr, the 1930s Spanish

Colonial is as distinct as it is rich with Mediterranean flair. Nestled on one of the most sought-after blocks in Beverly Hills , the Southern California classic is characterized

by a beautiful ornate iron entry door leading through hand-crafted rounded arches in the doorways, bright stucco walls, and retro multi-pane windows, cove ceilings and

dual patios. With the decorative details throughout, the top-tier residents have been drawn to the property for years. The red tile-lined roof, the iron and wood railings,

stucco vents and elaborate chimney tops are just a few of the many details that complement the property throughout.

Built in 1936 and consisting of almost 6,000 sf Robbins Dr has a desired unit mix consisting of eight one bedroom / one-bathroom units (two of which have been converted

into one large 2+2 to be delivered vacant). Additionally, another one bedroom is to be delivered vacant increasing the opportunity to command top dollar rent. The

property is just steps to the Peninsula Beverly Hills, Beverly Hilton, Waldorf Astoria and only minutes to Rodeo Drive and its first-class dining and shopping. The walking

distance amenities for the residents are beyond superb. Two units are being delivered vacant therefore giving the new buyer opportunity to have increased cash flow upon

obtaining possession of this very well-located property.

INVESTMENT OVERVIEW

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REGIONAL MAP

9940 ROBBINS DR

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LOCAL MAP

9940 ROBBINS DR

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AERIAL PHOTO

9940 ROBBINS DR

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Marcus & Millichap closes

more transactions than any

other brokerage firm.

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9940 ROBBINS DR

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PROPERTY PHOTO

9940 ROBBINS DR

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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

9940 ROBBINS DR

RENT ROLL SUMMARY

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FINANCIAL ANALYSIS

9940 ROBBINS DR

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RENT ROLL DETAIL

FINANCIAL ANALYSIS

9940 ROBBINS DR

OPERATING STATEMENT

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FINANCIAL ANALYSIS

9940 ROBBINS DR

NOTES

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FINANCIAL ANALYSIS

9940 ROBBINS DR

PRICING DETAIL

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MARCUS & MILLICHAP ADVANTAGE

MARCUS & MILLICHAP CAPITAL CORPORATION CAPABILITIESMMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and terms.

We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of financing options.

Our dedicated, knowledgeable experts understand the challenges of financingand work tirelessly to resolve all potential issues for the benefit of our clients.

Optimum financing solutions to enhance value

Enhanced control through investor qualification support

Enhanced control through MMCC’s ability to qualify investor finance contingencies

Enhanced control through MMCC’s ability to monitor investor/due diligence and underwriting to ensure timely, predictable closings

Enhanced control through quickly identifying potential debt/equity sources, processing, and closing buyer’s finance alternatives

WHY MMCC?

National platform operating

within the firm’s brokerage offices

$ 7.18 billion total national

volume in 2019

Access to more capital sources than any other firm in the industry

Closed 1,994debt and equity

financings in 2019

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9940 ROBBINS DR

9940 ROBBINS DR

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MARKET

COMPARABLES

9940 ROBBINS DR

SALES COMPARABLES MAP

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9940 ROBBINS DR(SUBJECT)

138 North Almont Drive

133-135 S Bedford Drive

153 South Bedford Drive

336 South Doheny Drive

337 North Oakhurst Drive

442 South Oakhurst

9595 West Olympic Boulevard9619 West Olympic Boulevard

405-411 1/2 Shirley Place

SALES COMPARABLES

1

2

3

4

5

7

8

6

9

22

Avg. $607,197

$0

$80,000

$160,000

$240,000

$320,000

$400,000

$480,000

$560,000

$640,000

$720,000

$800,000

9940Robbins Dr

138 NorthAlmontDrive

133-135 SBedford

Drive

153 SouthBedford

Drive

336 SouthDohenyDrive

337 NorthOakhurst

Drive

442 SouthOakhurst

9595 WestOlympic

Boulevard

9619 WestOlympic

Boulevard

405-411 1/2ShirleyPlace

PROPERTY NAME9940 ROBBINS DR

SALES COMPARABLES

Average Price Per Unit

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM

9940 ROBBINS DR

SALES COMPARABLES

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SALES COMPARABLES

Units Unit Type

Offering Price: $4,400,000 5 1 Bed 1 Bath

Price/Unit: $550,000 3 1 Bed 1 Bath Vacant

Price/SF: $737.14

CAP Rate: 2.78%

GRM: 19.96

Total No. of Units: 8

Year Built: 1936

Underwriting Criteria

Income $216,039 Expenses $93,554

NOI $122,485 Vacancy ($6,615)

9940 ROBBINS DR9940 Robbins Dr, Beverly Hills, CA, 90212

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Units Unit Type

Close Of Escrow: 8/1/2018 5 1 Bdr 1 Bath

Sales Price: $3,000,000

Price/Unit: $600,000

Price/SF: $597.61

CAP Rate: 3.00%


Year Built: 1948

138 NORTH ALMONT DRIVE138 North Almont Drive, Beverly Hills, CA, 90211

Units Unit Type




Price/SF: $566.07

CAP Rate: 2.09%


Year Built: 1936

2

133-135 S BEDFORD DRIVE133-135 S Bedford Drive, Beverly Hills, CA, 90212

PROPERTY NAME

MARKETING TEAM

9940 ROBBINS DR

SALES COMPARABLES

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SALES COMPARABLES

Units Unit Type


Sales Price: $5,400,000 2 2 Bdr 2 Bath


Price/SF: $652.49

CAP Rate: 3.07%

GRM: 22.00


Year Built: 1938

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153 SOUTH BEDFORD DRIVE153 South Bedford Drive, Beverly Hills, CA, 90212

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Units Unit Type

Sales Price: $3,750,000 7 Studio 1 Bath


Price/SF: $591.20


Year Built: 1954

336 SOUTH DOHENY DRIVE336 South Doheny Drive, Beverly Hills, CA, 90211

Units Unit Type




Price/SF: $554.27

CAP Rate: 1.50%

GRM: 23.71


Year Built: 1956

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337 NORTH OAKHURST DRIVE337 North Oakhurst Drive, Beverly Hills, CA, 90210

PROPERTY NAME

MARKETING TEAM

9940 ROBBINS DR

SALES COMPARABLES

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SALES COMPARABLES

Units Unit Type

Close Of Escrow: 2/7/2020 1 Studio 1 Bath



Price/SF: $540.92

CAP Rate: 3.00%


Year Built: 1954

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442 SOUTH OAKHURST 442 South Oakhurst , Beverly Hills, CA, 90212

7

Units Unit Type




Price/SF: $704.24

CAP Rate: 3.01%

GRM: 22.50


Year Built: 1949

9595 WEST OLYMPIC BOULEVARD9595 West Olympic Boulevard, Beverly Hills, CA, 90212

Units Unit Type



Price/Unit: $575,000 1 2 Bdr 1 Bath

Price/SF: $637.65


Year Built: 1940

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9619 WEST OLYMPIC BOULEVARD9619 West Olympic Boulevard, Beverly Hills, CA, 90212

PROPERTY NAME

MARKETING TEAM

9940 ROBBINS DR

SALES COMPARABLES

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SALES COMPARABLES

Units Unit Type




Price/SF: $522.02

CAP Rate: 2.46%

GRM: 24.80


Year Built: 1948

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405-411 1/2 SHIRLEY PLACE405-411 1/2 Shirley Place, Beverly Hills, CA, 90212

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9940 ROBBINS DR

RENT COMPARABLES MAP

9940 ROBBINS DR(SUBJECT)

9933 Robbins Drive

212 South Lasky

9637 Charleville Boulevard

133 South Reeves Drive

9945 Young Drive

4

7

8

9

11

20

12

14

15

16

17

13

18

10

4

1

2

3

5

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PROPERTY NAME9940 ROBBINS DR

RENT COMPARABLES

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AVERAGE RENT - MULTIFAMILY

Avg. $3,559

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

9940Robbins Dr

9933Robbins

Drive

212 SouthLasky

9637CharlevilleBoulevard

133 SouthReevesDrive

9945 YoungDrive

1 Bedroom

PROPERTY NAME

MARKETING TEAM

9940 ROBBINS DR

RENT COMPARABLES

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YEAR BUILT: 1936

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Unit Type Units SF Rent Rent/SF

1 Bed 1 Bath 5 $1,998 $0.001 Bed 1 Bath

Vacant 3 $2,795 $0.00

Total/Avg. 8 $2,297

9940 ROBBINS DR9940 Robbins Dr, Beverly Hills, CA, 90212

YEAR BUILT: 1948

1


1 Bdr 1 Bath 1 $3,195

Total/Avg. 1 $3,195

9933 ROBBINS DRIVE9933 Robbins Drive, Beverly Hills, CA, 90212

2

YEAR BUILT: 1938


1 Bdr 1 Bath 1 $3,200

Total/Avg. 1 $3,200

212 SOUTH LASKY212 South Lasky, Beverly Hills, CA, 90212

PROPERTY NAME

MARKETING TEAM

9940 ROBBINS DR

RENT COMPARABLES

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YEAR BUILT: 1900

3


1 Bdr 1 Bath 1 $3,150

Total/Avg. 1 $3,150

9637 CHARLEVILLE BOULEVARD9637 Charleville Boulevard, Beverly Hills, CA, 90212

YEAR BUILT: 1937

4


1 Bdr 1 Bath 1 $3,600

Total/Avg. 1 $3,600

133 SOUTH REEVES DRIVE133 South Reeves Drive, Beverly Hills, CA, 90212

5

YEAR BUILT: 1936


1 Bdr 1.5 Bath 1 $4,650

Total/Avg. 1 $4,650

9945 YOUNG DRIVE9945 Young Drive, Beverly Hills, CA, 90212

Documents

9940 Robbins Drive Revised...9940 ROBBINS DR SALES COMPARABLES rentpropertyname1 rentpropertyaddress1 rentpropertyname1 rentpropertyaddress1 rentpropertyname1 rentpropertyaddress1