Millard Creek | Altadena, CA

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MARKETING PACKAGE

2000 N. LAKE AVE, ALTADENA, CA 91001

2000 N. LAKE AVE

MARKETING PACKAGE TABLE OF CONTENTS 01

Property Overview

02 Financial Analysis 03 Location Overview CONTACT INFORMATION

tom jonsson Director (424) 325-2621

will james Director (424) 325-2610

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2000 N. LAKE AVE, ALTADENA, CA 91001

SECTION ONE

PROPERTY OVERVIEW

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2000 N. LAKE AVE, ALTADENA, CA 91001

PROPERTY OVERVIEW

DETAILS

Street Address City State Zip Code APN Rentable Square Feet Lot Size Year Built

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2000 N. Lake Ave Altadena CA 91001 5845-016-013 16,440 SF 17,167 SF 2019

Number of Units

11

Residential Parking

21 Spaces

Number of Buildings

1

Commercial Parking

7 Spaces

Number of Stories

3

Zoning

Water

Master-Metered

Electric

Individually Metered

Gas

Individually Metered

Construction

Wood-frame Stucco

Roof

LCC2

Unit Mix

(1) 1 Bed / 1.5 Bath (8) 2 Bed / 2.5 Bath Townhomes (2) Commercial Retail

Flat

2000 N. LAKE AVE, ALTADENA, CA 91001

PROPERTY OVERVIEW

HIGHLIGHTS

Millard Creek Millard Creek in a new construction luxury townhome mixed-use community built in 2019 and located in Altadena, California. The property is not subject to rent control and consists of both residential and commercial retail/office spaces.’ The residential units consist of eight (8) two-story townhomes each with 2 bedrooms and 2 1/2 bathrooms that range in size from 1,600-1,760 sq. ft. In addition, there is also a 1 bedroom 1 ½ bath single story residential units that is a dedicated affordable income unit. Lastly, there are two 1,000 sq. ft. commercial spaces currently occupied both with 5-year leases signed in 2020.

This new development is nestled in the charming area of North Lake Avenue with units that feature breathtaking views of the San Gabriel mountains. The subject property is surrounded by million dollar homes and sits just a few blocks from the Montecedro Senior Living Project and is also close to JPL and the Estate Area of Altadena.

Millard Creek puts you within reach of Old Town Pasadena, The Shops on Lake Avenue, the 210 freeway, the Gold Line, and the best 10 Colleges and Universities in Pasadena. Amenities include: • Open floor plans.

• Contemporary cabinetry.

• Large storage closets.

• Fire pit lounge area.

• Stainless steel appliances.

• Spacious walk-in closets with built-in shelving.

• Programmable thermostats.

• Large den/family room or office.

• Appliances provided to tenants include washer, dryer, dishwasher,

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2000 N. LAKE AVE, ALTADENA, CA 91001

PROPERTY OVERVIEW

FIRST FLOOR & PARKING MAP

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2000 N. LAKE AVE, ALTADENA, CA 91001

PROPERTY OVERVIEW

INTERIOR PHOTOS

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2000 N. LAKE AVE, ALTADENA, CA 91001

PROPERTY OVERVIEW

INTERIOR PHOTOS

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2000 N. LAKE AVE, ALTADENA, CA 91001

PROPERTY OVERVIEW

INTERIOR PHOTOS

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2000 N. LAKE AVE, ALTADENA, CA 91001

SECTION TWO

FINANCIAL ANALYSIS

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2000 N. LAKE AVE, ALTADENA, CA 91001

FINANCIAL ANALYSIS

PRICING ANALYSIS

$7,595,000 Price Price per Unit Price per Square Foot

CURRENT $7,595,000 $690,455 $461.98

CAP Rate

3.09%

GRM

20.04

NOI

$234,801

This information has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless James Capital Advisors, Inc. from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

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2000 N. LAKE AVE, ALTADENA, CA 91001

FINANCIAL ANALYSIS

FINANCING

Down Payment Loan Amount Interest Rate Amortization / Fixed Period Term

$3,797,500 (50%) $3,797,500 3.00% 30-Year / 5-Year 360 Month

CURRENT Debt Service

-$192,125

Pre-Tax Cash Flow (1.12%)

$42,676

Principle Reduction

-$79,284

Total Return (3.21%)

$121,960

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2000 N. LAKE AVE, ALTADENA, CA 91001

FINANCIAL ANALYSIS

INCOME AND EXPENSE ANNUAL

INCOME

CURRENT

ANNUAL

EXPENSE

CURRENT

Gross Income

$378,936

Taxes

Gross Potential Income

$378,936

Insurance

$4,500

$18,947

Water

$4,200

$359,989

Power

$3,600

$125,188

Repairs & Maintenance

$2,400

$234,801

Elevator Maintenance

$2,040

Off-Site Management Fee

$14,400

Vacancy Allowance (5%) Effective Gross Income Operating Expenses (35%) Net Operating Income

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$80,204

Trash

$1,800

Gardener / Janitorial

$3,600

Pest Control

$1,800

Telephone Expense

$2,400

Miscellaneous

$1,000

Reserves

$2,000

Direct Assessments

$1,244

Operating Expenses

$125,188

2000 N. LAKE AVE, ALTADENA, CA 91001

FINANCIAL ANALYSIS

RENT SCHEDULE UNIT #

UNIT TYPE

SQ. FOOTAGE

RENT

RENT PER SF

1

2 Bed / 2.5 Bath Townhouse

1,720 SF

$3,250

$1.89

2

2 Bed / 2.5 Bath Townhouse

1,760 SF

$3,150

$1.79

3

2 Bed / 2.5 Bath Townhouse

1,730 SF

$3,200

$1.85

4

2 Bed / 2.5 Bath Townhouse

1,820 SF

$3,800

$2.09

5

1 Bed / 1.5 Bath Townhouse

680 SF

$688

$1.01

6

2 Bed / 2.5 Bath Townhouse

1,760 SF

$3,395

$1.93

7

2 Bed / 2.5 Bath Townhouse

1,600 SF

$3,250

$2.03

8

2 Bed / 2.5 Bath Townhouse

1,600 SF

$3,250

$2.03

9

2 Bed / 2.5 Bath Townhouse

1,770 SF

$3,395

$1.92

Commercial A*

The Source of Lake, LLC

1,000 SF

$2,100

$2.10

Commercial B*

Riot Media, Inc

1,000 SF

$2,100

$2.10

16,440 SF

$31,578

TOTAL

* Commercial A - Lease Commencement 5/1/2020 ; Lease Expiration 4/30/2025 * Commercial B - Lease Commencement 4/1/2020; Lease Expiration 5/31/2025

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2000 N. LAKE AVE, ALTADENA, CA 91001

FINANCIAL ANALYSIS

PROPERTY PHOTO

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2000 N. LAKE AVE, ALTADENA, CA 91001

FINANCIAL ANALYSIS

PROPERTY PHOTO

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2000 N. LAKE AVE, ALTADENA, CA 91001

SECTION THREE

LOCATION OVERVIEW

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2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

Altadena, CA

Altadena, CA Altadena is an unincorporated community of Los Angeles County, next to and within the foothills of the San Gabriel Mountains. It is bounded on three sides by wilderness (the Arroyo Seco, Angeles National Forest, and Eaton Canyon), and on the south by the city of Pasadena. Throughout its history and up until today, as Altadena celebrates its 125th year, this distinct geography has nurtured an independent spirit and given the community a close-to-nature feel.

The area offers residents an open and nature-like vibe because it sits at the foothills of the Angeles National Forest. Altadena gives off a comfortable feeling of being at home in the country, and this is illustrated through the lack of paved sidewalks and towering residential buildings. In fact, visitors are more likely to see English-style cottage homes or sprawling estates with horses instead of contemporary condominiums.

While Altadena exemplifies a rustic community with mountainside activities readily available to the public, it’s still only a short ride away from Los Angeles’s busy metropolitan areas and its popular hotspots. While there are many charming attractions to see in Altadena, The Rosebowl in Pasadena, the Santa Anita racetrack, and the LA County Arboretum in Arcadia, are only a short 15-minute drive away. Altadena is also located close to DTLA, Chinatown, and Universal’s CityWalk.

Eaton Canyon Falls

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2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

Pasadena, CA

Pasadena, CA Pasadena is located at the base of the San Gabriel Mountains, just 11 miles northeast of Downtown Los Angeles. Known as the City of Roses, Pasadena is the most populous city and the primary cultural center of the San Gabriel Valley. With its substantial downtown area, observers consider it as either a suburb of nearby Los Angeles, or as a significant urban center in its own right. Its population was 137,122 at the 2010 census and an estimated 141,029 in 2019, making it the 41st largest city in California.

With historic buildings, luscious landscapes, and California sunshine that provides a plethora of light, Pasadena is the perfect place to escape to.

Pasadena has become the most exciting place for nightlife in the San Gabriel Valley. With bustling Old Pasadena’s 200 boutiques, national retailers, restaurants and clubs in the western section, chic shopping and dining on South Lake and abundant services in the eastern area, Pasadena is really the place to be. Pasadena is a cultural oasis with 14 museums and 11 performing arts organizations, including the Pasadena Playhouse and Norton Simon Museum. Pasadena also boasts the worldrenowned California Institute of Technology, whose alumni and faculty have garnered 32 Nobel Prizes. Most visitors to Pasadena will also not want to miss the nearby Huntington Library, Art Collections, and Botanical Gardens which features a large art collection but is more famous for its 150 acres of botanical gardens.

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Pasadena City Hall

2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

Major EMployers Nasa’s JPL The Jet Propulsion Laboratory (JPL) is a federally funded research and development center and NASA field center, less than 4 miles from the subject property. Established in 1936, JPL has more than 6,000 employees. The laboratory’s primary function is the construction and operation of planetary robotic spacecraft, though it also conducts Earth-orbit and astronomy missions.

Among the laboratory’s major active projects are the Mars Science Laboratory mission (which includes the Curiosity rover), the Mars Reconnaissance Orbiter, the Juno spacecraft orbiting Jupiter & the Spitzer Space Telescope.

Nasa’s JPL

California Institute of Technology The California Institute of Technology is a private research university in Pasadena, less than 3 miles away from the subject property. The university is one among a small group of institutes of technology in the United States which is primarily devoted to the instruction of pure and applied sciences. As of October 2019, there are 74 Nobel laureates who have been affiliated with Caltech, including 38 alumni and faculty members Caltech ranked number one in the U.S. for the percentage of its graduates who go on to earn a PhD. As of 2019, they have over 2,300 annually enrolled students and more than 300 academic staff.

California Institute of Technology

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2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

AERIAL

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2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

AERIAL

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2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

WALKABILITY 1.

Aldi 2246 Lake Ave, Altadena, CA 91001 0.4 MILES FROM SUBJECT PROPERTY

2. Rite Aid 735 E. Altadena Dr, Altadena, CA 91001 0.8 MILES FROM SUBJECT PROPERTY

3. North Lake Square Shopping Center 1301 N. Lake Ave, Pasadena, CA 91104 0.9 MILES FROM SUBJECT PROPERTY

4. Altadena Elementary School 743 E. Calaveras St, Altadena, CA 91001 0.5 MILES FROM SUBJECT PROPERTY

5. Longfellow Elementary School 1065 E. Washington Blvd, Pasadena, CA 91104 0.9 MILES FROM SUBJECT PROPERTY

6. Eliot Arts Magnet 2184 Lake Ave, Altadena, CA 91001 0.2 MILES FROM SUBJECT PROPERTY

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2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

WALKABILITY

01 ALDI

Aldi has more than 11,000 stores with an annual revenue of $53 billion.

02 RITE AID

Rite aid has more than 2,500 stores with an annual revenue of $21 Billion.

04 ALTADENA ELEMENTARY SCHOOL

This school is located less than 0.5 miles from the subject property.

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03 NORTH LAKE SQUARE SHOPPING CENTER

Dense retail area with 80,845 Sq. Ft & 22 different national retailers.

05 LONGFELLOW ELEMENTARY SCHOOL

This school is located one mile from the subject property.

06 ELIOT ARTS MAGNET

This drama school is located 0.2 Miles from the Subject Property.

2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

Point of Interest 1.

Eaton Canyon Falls Eaton Canyon Falls Trail, Altadena, CA 91001 2.2 MILES FROM SUBJECT PROPERTY

2. Norton Simon Museum 411 W. Colorado Blvd, Pasadena, CA 91105 3.9 MILES FROM SUBJECT PROPERTY

3. Rose Bowl Stadium 1001 Rose Bowl Dr, Pasadena, CA 91103 3.3 MILES FROM SUBJECT PROPERTY

4. Old Pasadena 1 E. Colorado Blvd, Pasadena, CA 91105 3.4 MILES FROM SUBJECT PROPERTY

5. The Huntington Library & Art Museum 1151 Oxford Rd, San Marino, CA 91108 4.4 MILES FROM SUBJECT PROPERTY

6. Los Angeles County Arboretum 301 N. Baldwin Ave, Arcadia, CA 91007 6.8 MILES E FROM SUBJECT PROPERTY

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2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

Point of Interest

EATON CANYON FALLS

NORTON SIMON MUSEUM

ROSE BOWL STADIUM

OLD PASADENA

THE HUNTINGTON LIBRARY & ART MUSEUM

LOS ANGELES COUNTY ARBORETUM

This forty-ft waterfall is located in the Eaton Canyon Natural Area Park.

Old Town was once the original commerical center of Pasadena.

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The collections include: European paintings, sculptures & tapestries.

a collections-based educational and research institution.

This world-famous stadium has a capacity for over 92,542 visitors.

an arboretum, botanical garden, & historical site with over 127 acres.

2000 N. LAKE AVE, ALTADENA, CA 91001

LOCATION OVERVIEW

DEMOGRAPHICS

POPULATION

1-Mile

3-Mile

5-Mile

22,791

151,655

271,696

2020 Estimate

22,949

151,963

272,240

2010 Census

23,282

150,242

269,146

1-Mile

3-Mile

5-Mile

2025 Projection

8,009

57,809

103,482

2020 Estimate

8,079

57,960

103,770

8,153

54,013

98,752

Average Income

$118,877

$110,567

$128,370

Median Income

$90,149

$83,636

$97,368

2025 Projection

HOUSEHOLDS

2010 Census

Old Town Pasadena Old Pasadena, often referred to as Old Town Pasadena or just Old Town, is the original commercial center of Pasadena. With 22 blocks designated as a National Register Historic District, Old Pasadena abounds with impeccably restored late 19th and early 20th-century architecture. “Old Pas,� as locals affectionately call it, offers open-air shopping plazas, hidden laneways and a lively strip of retailers and restaurants along the main drag, Colorado Boulevard.

Old Pasadena is less than 3.5 miles away from the subject property.

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2000 N. LAKE AVE, ALTADENA, CA 91001

JAMES CAPITAL ADVISORS, INC.

DISCLAIMER

The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation

by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto.

The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.

A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property.

Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

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www.jamescapitaladvisors.com

@jamescapitaladvisors

JAMES CAPITAL ADVISORS, INC.

THANK YOU FOR YOUR TIME CONTACT

tom jonsson Director

(424) 325-2621

tom@jamescapitaladvisors.com CA RE Lic. 01755842

will james Director

(424) 325-2610

will@jamescapitaladvisors.com CA RE Lic. 01734419

James Capital Advisors, Inc.

www.jamescapitaladvisors.com

@jamescapitaladvisors