1812-1830 Wilcox Avenue | Los Angeles | CA 90028 by lorena.lm90

1812-1830 WILCOX AVENUE LOS ANGELES, CA 90028

24-UNIT MULTIFAMILY PORTFOLIO

HOLLYWOOD, CA 90028

1812-1830 WILCOX AVENUE LOS ANGELES, CA 90028

04 16 22 30 35

PROPERTY DESCRIPTION EXECUTIVE SUMMARY LOCATION MARKET COMPARABLES DEMOGRAPHICS

CONFIDENTIALITY & DISCLAIMER 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 partyâ&#x20AC;&#x2122;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 partyâ&#x20AC;&#x2122;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 transaction. All 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 conditions,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

Presented By: Rich Johns

Adam Zunder

CalBRE Lic. #01432215

CalBRE Lic. #01821053

Multifamily Investment Advisor 818.432.1575 richjohns@kw.com

Multifamily Investment Advisor 818.554.5560 azunder@kw.com

1830

Wilcox Avenue

1824

Wilcox Avenue

PROPERT Y DESCRIPTION

1822

Wilcox Avenue

1812

Wilcox Avenue

The Offerings KW Commercial is pleased to present a strategic market positioning analysis for The Wilcox Gateway Apartments, a 24-unit investment opportunity spread across 4 properties and 4 separate / contiguous parcels zoned R4 and located at 1812-1830 Wilcox Avenue within the heart of Hollywood (90028). 1812-1830 Wilcox Avenue is comprised of three properties built in the 1920’s and one property built in 1986 and therefore not subject to rent control. 1812-1830 Wilcox Avenue features a unit composition of Singles, One-Bedroom and Two-Bedroom units - an ideal alignment attracting the area’s young urban demographic and fed by the numerous art and music institutes in the immediate vicinity. The neighboring arts and music institutes include the renowned American Academy of Dramatic Arts, Theatre of Arts College, School of Visual Effects, Musicians Institute, Los Angeles Film School and the Los Angeles Institute of Music. Property Metrics Address 1812 Wilcox Ave. 1822 Wilcox Ave. 1824 Wilcox Ave. 1830 Wilcox Ave. Total:

Units 7 5 6 6 24

Built 1919 1986 1920 1923

Bldg SF 5,100 3,170 3,480 3,846

Land SF 9,690 4,788 4,560 4,176

Parking 10 6 3 3

15,596

23,214

APN 5546-001-009 5546-001-401 5546-001-005 5546-001-004

Potential Development This dynamic location offers an unparalleled urban living experience with a Walk Score of 95 and a Transit Score of 65, affording residents with a lifestyle that is truly “LA”. Prior ownership has entitled the site for a 36-unit luxury condominium/rental development. Proximity to employment, lifestyle, and retail centers in the heart of Hollywood and within immediate proximity to West Hollywood, Silver Lake and DTLA make these units extremely desirable to affluent buyers and renters. 1812-1830 Wilcox Avenue is an extremely rare assemblage and a once in a lifetime potential development opportunity. • 1812 Wilcox Avenue Built in 1919, the property is Seven (7) units and is comprised of (+/- 5,100 SF of improvements) on a large 9,690 parcel of land. The unit mix consists of Three (3) Singles, Two (2) One Bedroom - One Bath, One (1) Two Bedroom - One Bathroom and One (1) Two Bedroom - Two Bathroom units. There is also a large Storage Garage space adding to the income metrics. The property has parking for Ten (10) Vehicles. • 1822 Wilcox Avenue Built in 1986, this property is NOT subject to Los Angeles Rent Control. It consists of Five (5) units and comprised of (+/- 3,170 SF of improvements) on a 4,788 square foot lot. The unit mix consists of Three (3) Singles, One (1) One Bedroom - One Bathroom, and One (1) One Bedroom - One Bathroom apartment units. There is parking for Six (Vehicles). • 1824 Wilcox Avenue Built in 1920, this property is Six (6) Units and is comprised of (+/- 3,480 SF of improvements) on a 4,560 square foot lot. The unit mix consists of Four (4) One Bedroom - One Bathroom and Two (2) Single apartment units. There is parking for 3 Vehicles. • 1830 Wilcox Avenue Built in 1923, this property is Six (6) Units and is comprised of (+/- 3,846 SF of improvements) on a 4,176 square foot lot. The unit mix consists of Three (3) One Bedroom - One Bathroom, Two (2) Singles, and One (1) Two Bedroom - One Bathroom apartment units. This location is the indisputable “CENTER OF LA” – vibrant, dynamic and artistic resident demographic base populating cutting-edge retail, cafes, restaurants and world-class hipster hot spots. An endlessly entertaining region, set at the base of the Hollywood Hills and within a short drive to major employment centers within Hollywood proper, DTLA and Koreatown. The property offers investors a unique and rare balance between strong current income, meaningful rental upside for future vacant apartments and a landbank play with 4 contiguous parcels zoned LAR4. Given the property’s location, strong income metrics and long-term land-bank opportunities, 1812-1830 Wilcox Avenue is an ideal investment for apartment operators seeking immediate returns along with long term wealth preservation and appreciation. Utility metering varies by unit – see rent roll for details.

1812

Wilcox Avenue

1822

Wilcox Avenue

1824

Wilcox Avenue

1830

Wilcox Avenue

investment highlights the OPPORtUnitY:

1812-1830 Wilcox Avenue is a 24-unit investment opportunity located in the center of Hollywood with a densely populated rental submarket of Los Angeles known for excellent rent growth and low vacancy rates.

RARE ASSEMBLAGE:

TRANSIT ORIENTED:

1812-1830 Wilcox Avenue is located approx. 1/2 miles from the Metro Red Line and in route for the 210, 217and 780 Metro Rapid bus lines.

STRONG EMPLOYMENT:

1812-1830 Wilcox consists of 4 contiguous R4 zoned parcels totaling 23,214 SF of land – creating a rare opportunity in one of

Hollywood- submarket is one of the strongest employment centers in the Los Angeles MSA and offers access to a diverse set of employers.

VALUE-ADD AND WEALTH PRESERVATION:

LACK OF HOUSING AFFORDABILITY:

The current income, although strong & stable is slightly below the market metrics. Future market rents can be achieved as the units turn naturally over time.

WELL LOCATED:

The property is in the heart Hollywood and within minutes from Hollywood and Highland, the Magic Castle, the 101 Freeway and all Hollywood has to offer.

GREAT WALKABILITY:

Walk Score of 95 – Walk to LA’s renowned restaurants, retail and entertainment venues, metro red line, parks and schools.

There is a significant affordability gap to home ownership in the Hollywood. As the median home price in the direct area is approximately $837,900, a typical monthly mortgage payment is between more than the average renovated rents at 1812 -1830 Wilcox Street.

NO SEISMIC RETROFIT REQUIRED:

1812-1830 Wilcox Street is not on the list of buildings that require a seismic retrofit.

LOCATED NEAR NEW COMMERCIAL DEVELOPMENTS:

More than 2.3 million SF of commercial space is currently under development in the Hollywood- submarket representing more than $1.58B in project costs, it is estimated that nearly 6,500 new jobs will be created in Hollywood alone.

1812 WILCOX AVENUE

1812 WILCOX AVENUE EXTERIOR

HIGHLIGHTS

1822 WILCOX AVENUE

1822 WILCOX AVENUE EXTERIOR

HIGHLIGHTS

1824 WILCOX AVENUE

1824 WILCOX AVENUE EXTERIOR

HIGHLIGHTS

1830 WILCOX AVENUE

1830 WILCOX AVENUE EXTERIOR

RENT ROLL

1812-1830 Wilcox Avenue Los Angeles, CA 90028

Market Rent Post Renovation

STATUS

UNIT TYPE

Utility Metering

Approx SF

Current Rent / SF

Current Rent

Market Rent / SF

Occupied Occupied Occupied Notice Occupied Occupied Occupied Occupied

2 Bed / 1 Bath Storage 2 Bed / 2 Bath Studio Studio 1 Bed / 1 Bath 1 Bed / 1 Bath Studio

Landlord Tenant Landlord Landlord Landlord Landlord Landlord

1,483 800 1,167 350 450 600 640 410

$1.48 $0.94 $1.97 $4.14 $3.32 $2.92 $2.81 $3.54

$2,195 $750 $2,295 $1,450 $1,495 $1,750 $1,798 $1,450

$1.85 $1.25 $2.31 $4.29 $3.44 $3.04 $2.85 $3.66

$2,750 $1,000 $2,695 $1,500 $1,550 $1,825 $1,825 $1,500

1822‐1 1822‐2 1822‐3 1822‐4 1822‐5

Eviction Occupied Occupied Occupied Occupied

Studio 1 Bed / 1 Bath Studio Studio 2 Bed / 2 Bath

Tenant Tenant Tenant Tenant Landlord

500 634 500 500 1,036

$2.90 $2.76 $2.79 $2.90 $2.38

$1,450 $1,750 $1,395 $1,450 $2,470

$3.10 $2.88 $3.10 $3.10 $2.56

$1,550 $1,825 $1,550 $1,550 $2,650

1824 1826‐1 1826‐2 1828 1828.5 1828.75

Occupied Occupied Occupied Eviction Occupied Lease‐up

1 Bed / 1 Bath 1 Bed / 1 bath 1 Bed / 1 Bath 1 Bed / 1 Bath Studio Studio

Tenant Tenant Tenant Tenant Tenant Tenant

700 665 533 582 500 500

$2.50 $2.63 $3.28 $3.01 $2.90 $2.90

$1,750 $1,750 $1,750 $1,750 $1,450 $1,450

$2.61 $2.74 $3.42 $3.14 $3.10 $3.10

$1,825 $1,825 $1,825 $1,825 $1,550 $1,550

1830 1830.5 1832 1832.5 1834 1834.5

Occupied Occupied Occupied Occupied Occupied Occupied

1 Bed / 1 Bath 2 Bed / 1 Bath 1 Bed / 1 Bath Studio 1 Bed / 1 Bath Studio

Tenant Tenant Landlord Landlord Landlord Landlord 0

829 900 792 350 600 375

$2.17 $2.44 $2.15 $4.29 $3.00 $3.99

$1,798 $2,195 $1,699 $1,500 $1,802 $1,495 $42,087.77

$2.20 $2.78 $2.30 $4.29 $3.04 $4.00

$1,825 $2,500 $1,825 $1,500 $1,825 $1,500 $45,145

UNIT 1812 Wilcox (7 Units) 1812 1812 Garage 1814 1816‐1 1816‐2 1816‐3 1818 1820

1822 Wilcox (5 Units)

1824 Wilcox (6 Units)

1830 Wilcox (6 Units)

Proper ty Details Address: 1812 Wilcox Avenue, Los Angeles, CA 90028 Assessor’s Parcel Number: 5546-001-009 Buildings: One Year Built: 1919 Land Use: Apartments Zoning: LAR4 Stories: Two

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

SITE DESCRIPTION Units: Gross Square Footage: Lot Size Square Footage:

6 ± 5,100 ± 9,690

1822 Wilcox Avenue, Los Angeles, CA 90028 5546-001-401 One 1986 Apartments LAR4 Two

5 ± 3,170 ± 4,788

UTILITIES Electric: Gas:

Separately Metered - LADWP Separately Metered - LADWP

UTILITIES Electric: Gas:

Separately Metered - LADWP Separately Metered - LADWP

CONSTRUCTION Foundation: Framing: Exterior: Roof:

Concrete/Raised Foundation Wood Frame Stucco Flat

CONSTRUCTION Foundation: Framing: Exterior: Roof:

Concrete/Raised Foundation Wood Frame Stucco Flat

Proper ty Details Address: 1824 Wilcox Avenue, Los Angeles, CA 90028 Assessor’s Parcel Number: 5546-001-005 Buildings: One Year Built: 1920 Land Use: Apartments Zoning: LAR4 Stories: Three

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

SITE DESCRIPTION Units: Gross Square Footage: Lot Size Square Footage:

6 ± 3,480 ± 4,560

1830 Wilcox Avenue, Los Angeles, CA 90028 5546-001-004 One 1923 Apartments LAR4 Three

6 ± 3,846 ± 4,176

UTILITIES Electric: Gas:

Separately Metered - LADWP Separately Metered - LADWP

UTILITIES Electric: Gas:

Separately Metered - LADWP Separately Metered - LADWP

CONSTRUCTION Foundation: Framing: Exterior: Roof:

Concrete/Raised Foundation Wood Frame Stucco Flat

CONSTRUCTION Foundation: Framing: Exterior: Roof:

Concrete/Raised Foundation Wood Frame Stucco Pitched

LO C AT I O N OVERVIEW

THE BEST OF HOLLYWOOD

HOLLYWOOD Hollywood is recognized worldwide as the epicenter of the film entertainment industry. It is the premiere location for shopping, dining, hotel and entertainment options by locals and tourists alike. With trendy retail, hip restaurants, nightlife hot spots and exciting entertainment venues, Hollywood offers a vibe and excitement that few cities in the world can match. Hollywood and Highland, one of the most visited tourist attractions in Los Angeles, is located within blocks of the subject properties. The nearly 400,000 square foot outdoor retail center is home to such brands as Louis Vuitton, Lucky Brand, Gap and Express. The center also includes the TCL Chinese Theater (formerly Mann Graumanâ&#x20AC;&#x2122;s Chinese Theatre) and the Dolby Theatre, which serves as the annual site of the Academy Awards.

Sunset + Vine Retail The Sunset + Vine retail center located approximately one mile from Wilcox Avenue Apartments sits below 300 multifamily units at the Sunset and Vine intersection. The 87,000 square foot center is occupied by Walgreens, Bed, Bath, and Beyond and Verizon Wireless.

Pantages Theatre Located at Hollywood and Vine and one mile from Wilcox Avenue Apartments the Pantages Theatre was designed by architect B. Marcus Priteca. The 2,703 capacity theatre is one of Los Angelesâ&#x20AC;&#x2122; leading venues for live theatre.

Henry Fonda Theatre Opened in 1926 the Henry Fonda Theatre was designed in Spanish Colonial revival Style. The 1,200 capacity theatre hosts live events, films and radio broadcasts and is located approximately one mile from Wilcox Avenue Apartments.

Hollywood Bowl The Hollywood Bowl, located approximately a half mile from Wilcox Avenue Apartments, is the largest natural amphitheater in the United States, with a seating capacity of nearly 18,000 patrons. The Hollywood Bowl is home to the Hollywood Bowl Orchestra, the Los Angeles Philharmonic and hosts hundreds of musical events each year

Hollywood Palladium The Hollywood Palladium located a mile and a half from Wilcox Avenue Apartments includes an 11,000 square foot dance floor and capacity for 4,000 people. In 2007, Live Nation signed a 20-year lease to host concerts at the venue.

Runyon Canyon Runyon Canyon Park, located approximately two miles from Orchid Apartments, is a 60-acre park set at the eastern end of the Santa Monica Mountains. The park, which features several hiking trails and a dog park, serves as one of the most popular hiking destinations in Los Angeles with a peak elevation of

HOLLYWOOD MARKET OVERVIEW HOLLYWOOD DEVELOPMENT AND RENTAL MARKET Some of the most successful new developments in Los Angeles are situated in Hollywood, including the W Hotel, Redbury Hotel, the Los Angeles Medical Center, Technicolor Headquarters, ArcLight Hollywood, Emerson College campus, Columbia Square and the future home of the Academy Museum of Motion Pictures. With over $4 billion in capital investments, Hollywood remains one of California’s fastest growing and popular urban submarkets, as evidenced by the following: • Current Multifamily Occupancy is 96.3%; average occupancy since 1997 of 97%, never lower than 95% • Average annual rent growth of 5.6% since 2000 • New units, defined as 2000 or later construction, have a 55% premium to older inventory

Accessibility Part of Hollywood’s appeal is its connectivity with other desirable 16 neighborhoods.

Because of its location amongst the city highway system, it’s easy to get from Hollywood to other parts of the city quickly and conveniently. Residents in search of apartments for rent or houses for rent can also use the LA Transit system to get around the neighborhood or the greater metro area; there are numerous bus lines that serve the Greater Los Angeles neighborhood, including the Hollywood & Highland Red Line Metro stop and has easy access to the 101 Freeway. The neighborhood is also very pedestrian friendly.

1812-1830 WILCOX AVENUE

11 2

8 17

1. Egyptian Theatr atre atr tr

8. Henry Fon F da Theatre

15. Hollyw wood oo Bo Bowl w

2. Man Mann Ma n Grau Gr man a ’s C an Ch Chi h nes esse Thea ese e tre ea

9. Hol ollyw yw ywood wood od Pa o Palla lladiu lla adiu d m di

16. Run unyon yon on Ca on Canyo a on

3. Hollywood and d High gh nd ghlan gh

10. Cinerama m Dome

1 W Hote 17. ote o ot tel

4. Pan Pantag t gess The eatr atre e

11. 1 Loe ews Hol Ho lyw yw wood o Ho H tell

18. Th The T h Redbu Re edbu bu b uryy

5. Sun S set Go ower w Studi Sttud os

12. Motion Picture Museum m

19. M Mus u iciians Institute

6. Roo R sevelt ltt Ho H te tel el el

13. The he Ma he agic Castle

20. Eme E rson College Los Ange Em geles ge les

7. Capit ittol Reco e rd rds ds

14. Sun u set & Vin un Viine

21. Lo Los Angel Los gel F geles Fil i m Scho ool o

9 14 20

10 5

Adjacent Arts & Music Academies 1.

American Academy of Dramatic Arts

Theater of Arts College

School of Visual Effects

Musicians Institute

Los Angeles Film School

Los Angeles Center of Photography

Los Angeles Institute of Music

Los Angeles School of Music

Los Angeles Jazz Society

1812-1830 WILCOX AVENUE

4 2 9

10. SAE Institute - Los Angeles 1

10 3

Red Metro Line Map Magnolia Bl

8 9

UNIVERSAL CITY

ake

er L Silv

CHINATOWN

WESTLAKE/ MACARTHUR PARK l

110

ice

Te m

pl e

1s tS

PICO

Alp

ine

CIVIC CENTER

9t h

CHINATOWN

METROLINK/ AMTRAK

3rd

4th

UNION STATION

LITTLE TOKYO/ ARTS DIST

PERSHING SQUARE 6t

pri

22 21

LIN

OLD

G RO MET

101

7TH ST/ METRO CENTER

U Val nion enc A ia S v t

Pic oB

Ve n

err y

11t

We st

7th 8th St St Jam Oly es M. mp Wo od i

6th St Wil shi re B

leg e

To/from Pasadena

To/from East

DOWNTOWN LOS ANGELES er S

Vie w Pa rk

WESTLAKE

cas

3rd

Wit m

WILSHIRE/ VERMONT

art

Col

L.A.

Vignes

VERMONT/BEVERLY

Alv ara do

Irolo St

Normandie Av

110

8th St

nes

VERMONT/ SANTA MONICA

Vig

7th St

KOREATOWN nsh a

Cre

Hillhurst Av Vermont Av

Normandie Av

Western Av

WILSHIRE/ NORMANDIE

25 26

Virgil Av

Gower St

Cahuenga Bl Vine St Argyle Av

Olympic Bl

z ve

Wilshire Bl

22 23

10 11

WILSHIRE/ WESTERN

Franklin Av

ha .C rE

6th St

VERMONT/SUNSET

101

sa Ce

Highland Av

Melrose Av

HOLLYWOOD/ VINE

Rossmore Av

HOLLYWOOD/ HIGHLAND

Santa Monica Bl

HOLLYWOOD/ WESTERN

7 Selma Av

e Los F

s 6

Sunset Bl

liz Bl

lak eA v

HOLLYWOOD

4 5

Hollywood Bl

3rd St

LOS FELIZ

Beverly Bl

WILCOX AVENUE

g en

HOLLYWOOD HILLS

Hoover St

rha

Univ Cen ersal ter D r

1812-1830

Ea Bl ga en hu Ca t es W Bl

l St

Vineland Av

Colfax Av

Tujunga Av

e od y mp W Ca enga u ah

STUDIO CITY

6 7

UNIVERSAL CITY

TOLUCA LAKE

La Brea Av

Ventura

Universal Hollywood Dr

adw

Moorpark St

Riverside Dr

134

3 4

Alameda St

101

Camarillo St

Hil

shi ker

170

Riverside Dr

Universal Studios/CityWalk John Anson Ford Theater Hollywood Bowl Grauman’s Chinese Theatre Hollywood & Highland El Capitan Theater Pantages Theatre Barnsdall Park Kaiser Medical Center Children’s Hospital of Los Angeles Queen of the Angels Hollywood Presbyterian Medical Center Los Angeles City College Braille Institute Wiltern Theatre Lafayette Park MacArthur Park Good Samaritan Hospital Los Angeles Convention Center Staples Center Music Center Los Angeles City Hall El Pueblo de Los Angeles Patsaouras Transit Plaza Japanese American National Museum Disney Concert Hall Museum of Contemporary Art (MOCA) LA County Main Jail

Bro

Lan

VALLEY VILLAGE

MAP NOTES Metro Red Line Metro Purple Line Metro Rail Station Metro Blue Line Metro Gold Line Metro Orange Line Metrolink/Amtrak Map Notes (see Inset) Freeway

To/from Warner Center

LEGEND

NORTH HOLLYWOOD

Chandler Bl

M a Lo in S sA t Sa ng nP el ed ro es S St t

Burbank Bl

Fi TR O B F gue LU low ro E/E er a Ho XP St St Gr pe SO LIN Ol and t E Hi ive Av Br ll S St oa t dw Sp ay rin g St

NORTH HOLLYWOOD

Cahuenga Av

METRO ORANGE LINE

St To/from Metro Expo Line, Metro Green Line and Long Beach

PAGE 39

FRANKLIN VILLAGE Located just a few blocks from Hollywood’s Central Business District, Franklin Village is one of the smaller urban villages in Los Angeles, but one with strong appeal as evidenced by the wide variety of businesses at its center. The businesses include magazine stands, gift shops, clothing boutiques, record and bookstores, gourmet delis, supermarkets, salons, natural foods stores, a comedy theater, and pet supplies. Although this neighborhood has a young history in terms of its popularity, the high walkability, variety of shops, and nostalgic feeling of early 1920’s architecture in surrounding buildings will continue to attract today’s trend setters.

MA R K E T

C O M PA R A B L E S

RENT COMPARABLES 1812-1830 Wilcox Avenue 1)

1811 North Cherokee Avenue

6358 Yucca Street

1825 Whitley Avenue

6711 Yucca Street

6651 Franklin Avenue

1831 Whitley Avenue

1806 Grace Avenue

1830 Grace Avenue

1851 Ivar Avenue

10) 1812 Grace Avenue 11) 1820 Whitley Avenue 12) 1823 Grace Avenue 13) 944 Whitley Avenue

RENT COMPARABLES Property

Units

Year Built

1812-1830 Wilcox Avenue Los Angeles, CA 90028

1919, 1986, 1920 & 1923

1811 North Cherokee Avenue Los Angeles, CA 90028

1948

6358 Yucca Street Los Angeles, CA 90028

1825 Whitley Avenue Los Angeles, CA 90028

SINGLE Owner / Manager

Rent

Private Owner Owner Managed

ONE BEDROOM Rent/SF

Rent

TWO BEDROOM

Rent/SF

Rent

Rent/SF

$1,314

$1,585

$2,383

Private Owner Owner Managed

$1,450

550

$2.64

1924

Private Owner Owner Managed

$1,525

300

$5.08

1928

Private Owner Owner Managed

$1,200

250

$4.80

6711 Yucca Street Los Angeles, CA 90028

1952

Private Owner Owner Managed

$1,500

6651 Franklin Avenue Los Angeles, CA 90028

1938

Private Owner Owner Managed

$1,699

420

$4.05

1831 Whitley Avenue Los Angeles, CA 90028

1958

Private Owner Owner Managed

$1,750

800

$2.19

1806 Grace Avenue Los Angeles, CA 90028

1925

Private Owner Owner Managed

$1,975

1830 Grace Avenue Los Angeles, CA 90028

1926

Private Owner Owner Managed

$1,975

1851 Ivar Avenue Los Angeles, CA 90028

1930

Private Owner Owner Managed

$1,795

1812 Grace Avenue Los Angeles, CA 90028

1950

Private Owner Owner Managed

$1,825

1820 Whitley Avenue Los Angeles, CA 90028

1988

Private Owner Owner Managed

$2,898

815

$3.56

1823 Grace Avenue Los Angeles, CA 90028

1988

Private Owner Owner Managed

$2,798

821

$3.41

944 Whitley Avenue Los Angeles, CA 90068

1964

Private Owner Owner Managed

$2,398

AVERAGE:

$1,722

600

$2.63

$2,488

910.5

$2.81

$4,922

1,283

$3.00

HIGH:

$1,950

600

$2.63

$3,200

1,032

$3.31

$4,995

1,300

$2.76

LOW:

$1,575

$2.63

$2,195

800

$2.15

$4,850

1,250

$2.30

600

SALE COMPARABLES 1812-1830 Wilcox Avenue 1)

6871 Franklin Avenue

5703 La Mirada Avenue

7006 Lanewood Avenue

1527 McCadden Place

6753 Selma Avenue

SALE COMPARABLES BUILT

UNITS

BLDG.SF

1812-1830 Wilcox Avenue Los Angeles, CA 90028

1919,1986, 1920, & 1923

15,596

6871 Franklin Avenue Los Angeles, CA 90028

1958

18,155

$8,625,000

4.40%

$287,500

$475.08

12/19/2017

2(0+1)

28(1+1)

5703 La Mirada Avenue Hollywood, CA 90038

1962

18,201

$5,500,000

3.88%

14.86

$211,538

$302.18

9/14/2017

3(0+1)

20(1+1)

7006 Lanewood Avenue Los Angeles, CA 90028

1958

14,657

$4,470,000

2.90%

19.04

$248,333

$363.24

11/29/2017

4(0+1)

14(1+1)

1527 N McCadden Place Los Angeles, CA 90028

1924

9,628

$5,525,000

4.25%

$263,095

$573.85

7/3/2018

20(0+1)

1(1+1)

6753 Selma Avenue Los Angeles, CA 90028

1959

5,288

$3,240,000

$294,545

$612.71

5/10/2018

11(0+1)

PROPERTY

PRICE

CAP

GRM

TBD

$/UNIT

TBD

$/SF

TBD

CLOSED

STUDIO

1BDR

2BDR

10(0+1)

10(1+1)

2(2+1) 2(2+2)

4(2+2)

DEMOGRAPHICS SNAPSHOT H O L L Y W O O D POPULATION

TOTAL POPULATION

106,104

MEDIAN AGE

34.00

MALE POPULATION

57,128

FEMALE POPULATION

48,976

HOUSEHOLDS & INCOME

TOTAL HOUSEHOLDS

55,298

# OF PERSONS PER HH

1.96

AVERAGE HH INCOME

$59,668

AVERAGE HH HOUSE VALUE

$572,500

FAMILY HOUSEHOLDS

17,476

NON-FAMILY HOUSEHOLDS

37,822

49+51 3070

Male Population Female Population

53.8% 46.2%

31.6%

68.4%

Family Households Non-family Households

Presented By: Rich Johns

Adam Zunder

CalBRE Lic. #01432215

CalBRE Lic. #01821053

Multifamily Investment Advisor 818.432.1575 richjohns@kw.com

Multifamily Investment Advisor 818.554.5560 azunder@kw.com