3792 Ashwood AveLos Angeles, CA 90066--------------------

7 UNITS IN MAR VISTA SHORT BIKE RIDE TO VENICE BEACH

3792 ASHWOOD AVELOS ANGELES, CA 90066

OFFERING MEMORANDUM

3792 Ashwood AveLos Angeles, CA 90066

PRESENTED BY

LOCATION OVERVIEWMarket OverviewProperty Location

PROPERTY SUMMARYProperty Highlights Property Details

FINANCIALSFinancial Overview Rent Roll

PHOTOGRAPHY

COMPARABLESSales Comps Rent Comps

Kenny StevensBRE# 01090251

310.963.7851kenny@prosserstevens.com

MARKETING PACKAGEOVERVIEW

www.prosserstevens.com | hello@prosserstevens.com | 310.963.7851449 South Beverly Drive, First Floor, Beverly Hills, CA 90212

---------------------------

3792 Ashwood AveLos Angeles, CA 90066LOCATIONMAR VISTA, CA ---------------------------

MAR VISTA - LOS ANGELES, CA 900663792 Ashwood Ave, is located in the booming, culturally rich neighborhood of Mar Vista — Close tothe Mar Vista Sunday Farmer's Market, Venice Beach, Marina Del Rey, Silicon Beach, Santa Monica,and Culver City. Located only a short bike ride from trendy Abbot Kinney Blvd where some of thebest shopping and restaurants in LA are located. Easy commute to LAX, Downtown LA and BeverlyHills and all that West LA has to offer!

Over the course of just a couple of years, Mar Vista has been among the most significant emergingsubmarkets in Los Angeles. Its central location on the Westside along with its proximity to Venice andSilicon Beach has made this area irresistible to residents. With Venice and Playa Vista filling up fastand Santa Monica virtually out of space, developers and brokers are eying Mar Vista as the nextprevalent neighborhood.

Venice has become one of the most expensive neighborhoods in Los Angeles. According to the realestate website Zillow, it is the seventh most expensive neighborhood in which to buy a house, itsmedian home value — $1,578,200 — coming in just behind the Hollywood Hills and just ahead ofBeverlywood. According to ApartmentList.com, the average rental price of a two-bedroomapartment in Venice is $4,900 a month — well ahead of Westwood, Santa Monica, Brentwood, evenBel-Air and the Hollywood Hills. When you rank neighborhoods in the city of L.A. by price per squarefoot of real estate, Venice becomes even loftier: According to data provided to L.A. Weekly byZillow, Venice is tied with Bel-Air for No. 2. Only the Pacific Palisades is more expensive per squarefoot. As for median rental price per square foot, Venice is the most expensive place in L.A.

Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to over 500tech startup companies. Major technology companies have opened Offices in the region includingGoogle, Yahoo!, YouTube, BuzzFeed, Facebook, AOL, Electronic Arts, EdgeCast Networks, andMySpace. The region is considered the second- or third-largest tech hub in the world, according tovarious reports. This has had major impacts on the type and availability of office space and on homeprices in Mar Vista, Playa Vista, Playa Del Rey, Westchester, Santa Monica, and Venice, as theseareas have become more desirable due to this influx.

3792 Ashwood AveLos Angeles, CA 90066LOCATIONOVERVIEW ---------------------------

3792 Ashwood AveLos Angeles, CA 90066--------------------

PROPERTY DESCRIPTION3792 Ashwood Avenue, located in the rapidly growing Westsideneighborhood of Mar Vista. This 1949 bungalow-style property islocated just 1.5 miles from the world-famous Venice BeachBoardwalk. Entertainment value and proximity to a variety of westsideneighborhoods add to this property’s long-term appreciation. Thebuilding has five (5) singles with full kitchen and bath as well as two (2)1+1 unit, all of which have hardwood floors, private entrances, andindividual parking spaces. Several units have been beautifullyrenovated with stainless steel appliances, new fixtures, quartz countertop, new cabinets, and updated bathrooms. Additional renovationsto the property include; new contemporary landscaping, new frontfence, as well as a newly paved parking lot.

PROPERTY DETAILSUnits (2) 1+1, (5) Singles Major Intersection Venice Blvd and Ashwood AveMarket Mar VistaAPN 4245-021-001Zoning Type LARD1.5Building SF 2,499 SFUnits (2)1+1, (5) Single

PROPERTY SUMMARY PROPERTY DETAILS

3792 Ashwood AveLos Angeles, CA 90066PROPERTY SUMMARY PROPERTY HIGHLIGHTS

7 UNITS IN MAR VISTA• Charming, quiet gated property • Owner can raise rents by 5% annually• Excellent location on the Venice-Mar Vista border• Easy bike ride to the beach, Abbot Kinney Blvd, Santa Monica• Excellent unit mix for AirBnB rentals• Approximately 20% upside in rents• Several units have been beautifully renovated• 7 open parking spaces• Simple to manage

---------------------------

3792 Ashwood AveLos Angeles, CA 90066FINANCIALSFINANCIAL OVERVIEW - $2,050,000 ---------------------------

Purchase Price: $2,050,000 UNIT MIX CURRENT PRO FORMADown Payment: $2,050,000 100% Units Beds Baths Range Monthly Rent MonthlyYear Built: 1949 2 1 1 $1,430 - $2,395 $3,825 $2,395 $4,790Units: 7 5 Studio 1 $1,070 - $1,895 $7,754 1,750-1,895 $9,185Approx. Lot Size: 6,001 Sq. Ft.Cost per Unit: $292,857Expense / Unit: $6,844 Scheduled Rent: $11,579 $13,975

CURRENT PRO FORMA

GRM: 14.69 12.18 Laundry Income: $50 $50CAP: 4.27% 5.63% Monthly Gross Income: $11,629 $14,025

Annual Gross Income: $139,548 $168,300

CURRENT PRO FORMA ITEM AMOUNTScheduled Gross Income: $139,548 $168,300 Taxes: (based on new purchase price) 1.25% $25,625Less Vacancy Reserve Rate: ($4,186) 3.00% * ($5,049) 3.00% *Insurance: $3,987Gross Operating Income: $135,362 $163,251 *Utilities: $7,739Less Expenses: ($47,908) 34% * ($47,908) 28% *Repairs & Maintenance: $2,164Net Operating Income: $87,453 $115,343 Professional Mgmt: $6,768Less Debt Service: $0 $0 *Landscape $1,625Pre-Tax Cash Flow: $87,453 4.27% ** $115,343 5.63%Plus Principal Reduction: $0 $0 Total Expenses: $47,908Total Return Before Taxes: $87,453 4.27% ** $115,343 5.63% Expense / Unit: $6,844

INVESTMENT SUMMARY SCHEDULED INCOME

*Expenses are 2017 Actuals

ANNUAL INCOME ANNUAL EXPENSES

Sheet1

INVESTMENT SUMMARYSCHEDULED INCOME

Purchase Price:$2,050,000UNIT MIXCURRENTPRO FORMA

Down Payment:$2,050,000100%UnitsBedsBathsRangeMonthlyRentMonthly

Year Built:1949211$1,430 - $2,395$3,825$2,395$4,790

Units:75Studio1$1,070 - $1,895$7,7541,750-1,895$9,185

Approx. Lot Size:6,001Sq. Ft.

Approx. Bldg. NRSF:Sq. Ft.

Cost per NRSF:$747

Cost per Unit:$292,857

Expense / NRSF:$13.13

Expense / Unit:$6,844Scheduled Rent:$11,579$13,975

CURRENTPRO FORMA

GRM:14.6912.18Laundry Income:$50$50

CAP:4.27%5.63%Monthly Gross Income:$11,629$14,025

Annual Gross Income:$139,548$168,300

ANNUAL INCOMEANNUAL EXPENSES

CURRENTPRO FORMAITEMAMOUNT

Scheduled Gross Income:$139,548$168,300Taxes: (based on new purchase price) 1.25%$25,625

Less Vacancy Reserve Rate:($4,186)3.00%*($5,049)3.00%*Insurance:$3,987

Gross Operating Income:$135,362$163,251*Utilities:$7,739

Less Expenses:($47,908)34%*($47,908)28%*Repairs & Maintenance:$2,164

Net Operating Income:$87,453$115,343Professional Mgmt:$6,768

Less Debt Service:$0$0*Landscape$1,625

Pre-Tax Cash Flow:$87,4534.27%**$115,3435.63%*Expenses are 2017 Actuals

Plus Principal Reduction:$0$0Total Expenses:$47,908

Total Return Before Taxes:$87,4534.27%**$115,3435.63%Expense / Unit:$6,844

* As a percent of the scheduled gross income. ** As a percent of the down payment

Sheet2

CurrentMarketLease

Unit #Unit TypeRentRentDateNotes

131211 + 1$2,395$2,39512/1/17

3792Studio$1,779$1,8952/13/17

37941 + 1$1,430$2,395

13117Studio$1,750$1,7504/1/17

13117 1/2Studio$1,070$1,895

13119Studio$1,895$1,895Vacated 4/10/18

13119 1/2Studio$1,260$1,895

Laundry$50$50

MONTHLY TOTAL:$11,629$14,170

ANNUAL TOTAL:$139,548$170,040

3792 Ashwood AveLos Angeles, CA 90066FINANCIALSRENT ROLL

Current Market LeaseUnit # Unit Type Rent Rent Date Notes

13121 1 + 1 $2,395 $2,395 12/1/20173792 Studio $1,779 $1,895 2/13/20173794 1 + 1 $1,430 $2,395

13117 Studio $1,750 $1,750 4/1/201813117 1/2 Studio $1,070 $1,750

13119 Studio $1,895 $1,895 Vacated 4/10/1813119 1/2 Studio $1,260 $1,895

Laundry $50 $50MONTHLY TOTAL: $11,629 $14,025

ANNUAL TOTAL: $139,548 $168,300

---------------------------

Sheet1

INVESTMENT SUMMARYSCHEDULED INCOME

Purchase Price:$3,300,000UNIT MIXCURRENTPRO FORMA

Down Payment:$3,300,000100%UnitsBedsBathsAverageMonthlyRentMonthly

Year Built:1906421$2,210-$3,300$10,819$3,300$13,200

Units:721 + loft1$1,879-$1,927$3,805$2,700$5,400

Approx. Lot Size:3,060Sq. Ft.111$944$944$2,500$2,500

Approx. Bldg. NRSF:4,416Sq. Ft.

Cost per NRSF:$747

Cost per Unit:$471,429

Expense / NRSF:$13.13

Expense / Unit:$8,282Scheduled Rent:$15,568$21,100

CURRENTPRO FORMAStorage Income:$0$0

GRM:17.6613.03Laundry Income:$0$0

CAP:3.73%5.69%Monthly Gross Income:$15,568$21,100

ROI:3.73%5.69%Annual Gross Income:$186,816$253,200

ANNUAL INCOMEANNUAL EXPENSES

CURRENTPRO FORMAITEMAMOUNT

Scheduled Gross Income:$186,816$253,200Taxes: (based on new purchase price) 1.25%$41,250

Less Vacancy Reserve Rate:($5,604)3.00%*($7,596)3.00%*Insurance:$1,208

Gross Operating Income:$181,212$245,604*Utilities:$1,311

Less Expenses:($57,976)31%*($57,976)23%*Repairs & Maintenance:$5,315

Net Operating Income:$123,236$187,628Professional Mgmt:$7,142

Less Debt Service:$0$0Misc:$1,750

Pre-Tax Cash Flow:$123,2363.73%**$187,6285.69%*Expenses are 12-month actuals

Plus Principal Reduction:$0$0Total Expenses:$57,976

Total Return Before Taxes:$123,2363.73%**$187,6285.69%Expense / NRSF:$13.13

* As a percent of the scheduled gross income. ** As a percent of the down paymentExpense / Unit:$8,282

Sheet2

CurrentMarketLease

Unit #Unit TypeRentRentDateNotes

131211 + 1$2,395$2,39512/1/17

3792Studio$1,779$1,8952/13/17

37941 + 1$1,430$2,395

13117Studio$1,750$1,7504/1/18

13117 1/2Studio$1,070$1,750

13119Studio$1,895$1,895Vacated 4/10/18

13119 1/2Studio$1,260$1,895

Laundry$50$50

MONTHLY TOTAL:$11,629$14,025

ANNUAL TOTAL:$139,548$168,300

3792 Ashwood AveLos Angeles, CA 90066PROPERTY SUMMARY PROPERTY PHOTOS ---------------------------

3792 Ashwood AveLos Angeles, CA 90066PROPERTY SUMMARY PROPERTY PHOTOS ---------------------------

3792 Ashwood AveLos Angeles, CA 90066PROPERTY SUMMARY PROPERTY PHOTOS ---------------------------

3792 Ashwood AveLos Angeles, CA 90066COMPARABLESSALES COMPS

Property Photo Address Sale Price COE # ofUnitsCost/Unit

BuildingSF GRM CAP

YearBuilt Unit Mix Comments

3792 Ashwood AveLos Angeles, CA 90066 $2,050,000 - 7 $292,857 2,499 14.69 4.27%

1949/

1954

(2) 1+1(5) Studio Subject Property

13910 Beethoven St Los Angeles, CA 90066 $4,075,000 9/26/17 13 $313,462 7,841 n/a n/a 1969 (13) 1+1

2 Los Angeles 90066 3632 S Centinela AveLos Angeles, CA 90066 $2,200,000 3/31/17 6 $366,667 6,200 17.92 n/a 1944(2) 3+2(2) 2+2(2) 2+1

3 3913 Beethoven StLos Angeles, CA 90066 $1,980,000 9/5/17 4 $495,000 2,596 18.33 4.14% 1964(1) 2+1(3) 1+1

4 4320-4326 Inglewood BlvdLos Angeles, CA 90066 $2,350,000 5/4/17 6 $391,667 5,316 n/a 2.57% 1953(4) 2+1(2) 1+1

5 561 Washington BlvdVenice, CA 90292 $4,250,000 3/8/17 10 $425,000 6,280 19.69 2.96% 1954(2) 2+1(8) 1+1

6 2700 Abbot Kinney Blvd Venice, CA 90291 $5,650,000 7/13/16 15 $376,667 11,180 22.84 2.27% 1959(1) 2+1.5(8) 2+1(6) 1+1

7 3745 S Centinela AveLos Angeles, CA 90066 $1,763,000 8/15/17 5 $352,600 4,554 17.97 3.53% 1959(3) 2+1(2) 1+1

---------------------------

3792 Ashwood AveLos Angeles, CA 90066COMPARABLESSALES COMPS

Sales Comps3910 Beethoven St

3632 S Centinela Ave

3913 Beethoven St

4326 Inglewood Blvd

561 Washington Blvd

2700 Abbot Kinney Blvd

3745 S Centinela Ave

3792 Ashwood Ave

6

6

7

7

---------------------------

3792 Ashwood AveLos Angeles, CA 90066COMPARABLESRENTAL COMPS

Property Photo Address Rent Unit Type Comments

3792 Ashwood AveLos Angeles 90066

$1,430 - $2,395 1 + 1Subject Property

Several units have been fully renovated with hardwood floors, new kitchen and bathroom.

$1,895 Large Studio

$1,750 Small Studio

1 11923 Venice Blvd #2Los Angeles, CA 90066 $2,399 1 + 1

2 12602 Venice Blvd #110Los Angeles, CA 90066 $1,625 Studio Gated entry. Vinyl floors throughout. 1 parking space.

3 21 Westminster Ave #106Venice, CA 90291 $1,900 Studio358 sqft studio. No parking. Closer to the beach. Unit interior

is outdated and not as nice as subject property.

411900 Venice Blvd #4Los Angeles, CA 90066 $1,695 Studio

53629 Beethoven StLos Angeles, CA 90066 $2,195 1 + 1

6 2700 Abbot Kinney Blvd #6Venice, CA 90291 $2,495 1 + 1No parking. Closer to the beach. Not as updated as subject

property.

72610 Abbot Kinney Blvd Venice, CA 90291 $1,650 Studio

No parking. 1 mile to the beach. Unit located on 1st floor of 2 story building. Unit is outdated with old appliances and

carpet.

---------------------------

3792 Ashwood AveLos Angeles, CA 90066COMPARABLESRENTAL COMPS

6

---------------------------

Rental Comps11923 Venice Blvd

12602 Venice Blvd

21 Westminster Ave

11900 Venice Blvd

3629 Beethoven St

2700 Abbot Kinney Blvd

2610 Abbot Kinney Blvd

67

3792 Ashwood Ave

7

3792 ASHWOOD AVELOS ANGELES, CA 90066

Kenny Stevens310.963.7851

KENNY@PROSSERSTEVENS.COMBRE# 01090251

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. Buyer must

verify the information and bears all risk for any inaccuracies.

BRE# 01931128

PRESENTED BY

Slide Number 1Slide Number 2Slide Number 3Slide Number 4Slide Number 5Slide Number 6Slide Number 7Slide Number 8Slide Number 9Slide Number 10Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 17