WESTSIDE MULTI-FAMILY INVESTMENT OPPORTUNITY

2727 SIXTH STREETSANTA MONICA, CALIFORNIA

EXCLUSIVELY LISTED31 UNITS

MELINDA RUSSELLFirst Vice PresidentPCG Multi-Housing GroupLic. 00860306+1 818 907 4704melinda.russell@cbre.com

CBRE, Inc.111 Universal Hollywood Dr. 27th FloorUniversal City, CA 91608

www.cbre.com/lanorth

PROPERTYHIGHLIGHTS

INVESTMENT HIGHLIGHTS

PROPERTY HIGHLIGHTS

• Most units have ocean or city views

• Great unit mix of 1br, 2br and 1+den

• 97% occupancy in City of Santa Monica

• Upside in rents of over 35%

• Covered and gated parking

• Less than a 5-minute drive to Santa Monica Pier, Marina Del Rey, Santa Monica College, 3rd Street Promenade or 10 freeway

• Assumable fixed rate at 3.5% interest

• Virtually no vacancies in this pocket from Lincoln Boulevard to the Ocean

CBRE is pleased to present a rare op-portunity to acquire a 31 unit apart-ment building located at 2727 6th Street, 6 blocks from the ocean in Santa Monica. 100% leased, this investment provides an exceptional, low risk, core investment in one of West Los Angeles’ most dynamic and supply constrained markets.

SANTA MONICAHIGHLIGHTS

INVESTMENT HIGHLIGHTS

SANTA MONICA HIGHLIGHTS

• Metro Rail expansion underway for 2015 completion

• Est. 91,406 employees in the City of Santa Monica

• The City of Santa Monica employers have over 600 job classifications.

• Est. 6.5 million visitors come to Santa Monica each year

• Santa Monica generates $1.2 billion/year from tourism

• Hotels in Santa Monica, with a supply of over 3,500 rooms, typically operate with occupancy rates in the low 80% range

• Population of Santa Monica as of 2012 is 90,560 and expected to be at 92,060 by 2017

• There are 47,289 Households • Avg household size is 1.87• 73% of households in 2012 were renter

occupied - speaking to the strong demand for rental housing

• The median age is 40.7 with the largest population segments ranging from age 25 to 64 years in age

• Businesses in Santa Monica predominantly include: technology, retail, restaurants, financial and real estate, services including hotels and entertainment, clothing, legal, and healthcare

• Median Household Income is $64,305 as of 2012 (compared to $50,157 for all US households) and expected to move to $79,907 by 2017. Average Household Income is $94,826 (compared to $68,162 for all US households) expected to move to $113,643 by 2017.

• Current per capita income is $50,303 in the area, compared to $26,409 for the US. It is projected to be $60,195 in 5 years, compared to $29,882 for all US households.

• 65% of all housing units are valued at $500,000 to over $1,000,000

Demographic and Income ProfileSanta Monica City, CA_1Santa Monica city, CA (0670000)Geography: Place

AreaStateUSA

Trends 2012-2017

Population Households Families Owner HHs Median HH Income

Annual

Rat

e (i

n p

erce

nt)

4

3.5

3

2.5

2

1.5

1

0.5

0

20122017

Population by Age

0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

Perc

ent

18

16

14

12

10

8

6

4

2

0

2012 Household Income

<$15K11.1%

$15K - $24K8.2%

$25K - $34K8.3%

$35K - $49K12.4%

$50K - $74K15.3%

$75K - $99K9.8%

$100K - $149K15.5%

$150K - $199K8.5%

$200K+11.0%

2012 Population by Race

White Black Am. Ind. Asian Pacific Other Two+

Perc

ent

75

70

65

60

55

50

45

40

35

30

25

20

15

10

5

0

2012 Percent Hispanic Origin: 13.4%

April 30, 2013

Made with Esri Business Analyst

©2013 Esri www.esri.com/ba 800-447-9778 Try it Now! Page 2 of 2

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017.

Demographic and Income ProfileSanta Monica City, CA_1Santa Monica city, CA (0670000)Geography: Place

AreaStateUSA

Trends 2012-2017

Population Households Families Owner HHs Median HH IncomeAnnual Rate

(in

perc

ent)

4

3.5

3

2.5

2

1.5

1

0.5

0

20122017

Population by Age

0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

Perc

ent

18

16

14

12

10

8

6

4

2

0

2012 Household Income

<$15K11.1%

$15K - $24K8.2%

$25K - $34K8.3%

$35K - $49K12.4%

$50K - $74K15.3%

$75K - $99K9.8%

$100K - $149K15.5%

$150K - $199K8.5%

$200K+11.0%

2012 Population by Race

White Black Am. Ind. Asian Pacific Other Two+

Perc

ent

75

70

65

60

55

50

45

40

35

30

25

20

15

10

5

0

2012 Percent Hispanic Origin: 13.4%

April 30, 2013

Made with Esri Business Analyst

©2013 Esri www.esri.com/ba 800-447-9778 Try it Now! Page 2 of 2

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017.

AMENITIES/IMPROVEMENTS

• Pool• Ocean views from many units• Gated covered parking• Elevator• Intercom entry system• Balconies• Central courtyard• Lobby/mail room• 2 new water heaters• $23,000 in elevator system upgrades• New glass front entry• Laundry Room: 2 washers/2 dryers - owned by building• Sun deck with ocean views• Mirrored wardrobes

EXECUTIVE SUMMARY

INVESTMENT SUMMARY

List Price $10,800,000Number of Units 31Year Built 1969Building S.F. 23,700 SF (est.)Approx. Avg. Unit Size 765Lot Size 20,552 SFParking Garages & carports/security gatedZoning R-3Parcel Number 4287-019-027Utilities Individually Metered*No. of Stories 3

* 2 units (103 & 203) are on shared meters with 103A and 203A. Owner is reimbursed for utility charges by the respective tenants.

FINANCING

The property is being offered with assumable fixed rate financing with Chase Bank in the approximate balance of $5,093,000 at a favorable interest rate of 3.5%, amortized over 30 years and fixed for 5 years . The current fixed rate payment is $23,125.80 per month. Assumption fee 1%. Lo

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eles,

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1 of2

INVESTMENTDESCRIPTION

PROPERTY / INVESTMENT DESCRIPTION

2727 Sixth Street in Santa Monica represents a rare opportunity to purchase a 3 story, 31 unit apartment building with ocean views and pool, six blocks from the beach. The property sits on a triple lot, located on the corner of 6th Street and Raymond Street in a residential area comprising single family homes and apartments, with side-walk lined streets, nearby parks, and tranquil views.

Just north of Main Street in Venice, and only 6 blocks from the ocean, and a five minute drive to Marina Del Ray. Venice Beach and Main Street are onlt six blocks away. The property is centrally located to all shopping amenities and conve-niences. Nearby Lincoln Blvd., Ocean Park, and Main Street are all within walking distance of-fering banking, grocery, coffee houses, etc. It is rare that a multi-family asset of this size comes on the market in Santa Monica.

The intercom entry doors lead residents to the lobby and mail room, where the elevator pro-vides access to 3 stories of apartments, over-looking the central pool. All third floor units have ocean or city views and many of the second floor units also have views of the ocean. At the top of the 3rd floor is a roof-top sun-deck which offers views of the Pacific Ocean as well as Brentwood

and the Westside. Many units have upgraded pergo wood floors and ceramic tile kitchens and baths, as well as private balconies with views of beaches. When apartments become vacant they re-lease very quickly due to a lack of available apartments in this price range in Santa Monica. There are virtually no “for rent” signs in the area and wait lists are frequently the case.

This investment opportunity shows an initial re-turn with an estimated upside in rents of over 35%. Many of the rents projected have already been achieved at the property or in the imme-diate area, and several other properties rent for even more. This asset is a true “value add” play with the potential upside that exists. Addition-ally another significant tier of rent levels can be projected with more extensive upgrades on turnover.

The existing low rate fixed financing at a rate of 3.5%, is assumable, and fixed for 5 years.

Due to tremendous expansion of retail and of-fice in the technology, medical and entertain-ment sectors, Santa Monica has been recently dubbed “Silicon Beach” and with good reason when considering the expansion of such interna-tional firms as Yahoo, Viacom, and Google, to

the Santa Monica market.

6TH STREET

RAYMOND AVENUE

HILL STREET

HIGHLAND AVENUE

RAYMOND AVENUE

AERIAL MAP

Santa Monica Pier

PenmerGolf Course

3rd StreetPromenade

Santa MonicaState Beach

JW MarriottSanta Monica

Santa MonicaCollege

City of Santa Monica

Santa MonicaCivic Auditorium

The Village at Santa Monica

Santa Monica UCLA Hospital

Santa MonicaMunicipal Airport

Holiday Inn Santa Monica Beach

Hotel California

Loews Santa MonicaBeach Hotel

Shutters on the Beach

Proposed Metro Rail Station

Santa Monica Place

Casa Del Mar Santa Monica

RAND Corporation JW MarriottSanta Monica

YahooUniversal Music Group

St. Johns Medical Center

Fairmont Miramar Hotel

1 Mile Radius

Color

ado

Ave

Main St

Ocean Front Walk

PROPERTY DESCRIPTIONAERIAL MAP

PHOTOGALLERY

PROPERTY DESCRIPTION

PHOTO GALLERY

CITY OFSANTA MONICA

AREA DESCRIPTION

The City of Santa Monica which encompasses 15.9 square miles, and lies about 16 miles west of the Los Angeles Central Business District, is a highly sought af-ter residential and commercial community at the fore-front of the entertainment, educational, environmental and medical worlds. Incorporated in 1907, it is one of the oldest and richest cities in L.A. County, with historic roots, central access and beach-side location. San-ta Monica is an economic powerhouse, accentuated by its vibrant commercial districts, affluent residential communities and recreational and art venue, high pro-file corporate headquarters and booming tech, media and entertainment sectors. The city has actively pro-moted revitalization and redevelopment of its central core with several projects recently completed or under construction.

The apartment market boasts over 96% occupancy with a diverse age range as tenants from all walks of life, who desire a coastal environment and all the ame-nities offered in this beachfront city. Its residential areas are some of the most prestigious in the County. San-ta Monica has historically outperformed all other Los

Angeles markets, consistently achieving some of the regions highest rents and lowest vacancies. The 2011 population for Santa Monica was 90,377.

The Santa Monica area is conveniently accessed via Pacific Coast Highway, the Interstate 10 and 405 Free-ways. The 10 Freeway delivers visitors right to Pacific Coast Highway at its Western tip. Adjacent communi-ties include Venice Beach, Marina Del Rey, Malibu and Pacific Palisades and Brentwood. Pacific Coast High-way offers a drive up the coast to Malibu. Restaurants, shopping and markets in Santa Monica, are some of the best in the world.

Because it enjoys an average of 310 days of sunshine a year, Santa Monica had become a famed resort town by the early 20th century and has experienced a boom in the late 1980s through the current revitalization of its downtown core creating significant job growth and increased tourism downtown and Civic Center revital-ization, new parks and Metro Line.

Famed attractions include: Santa Monica Pier and

Carousel, built in 1909; La Monica Ballroom on the pier was once the largest ballroom in the US, and the source for many New Year’s Eve national network broadcasts; the Santa Monica Civic Auditorium; Ber-gamot Station a city-owned art gallery that includes the Santa Monica Museum of Art; California Heritage Museum; the Angels Attic dollhouse; Toy Museum and Ocean Front Walk and bike paths.

Shopping and RetailThe Downtown District is the home of the Third Street Promenade, a major outdoor pedestrian-only shopping mall that stretches for three blocks between Wilshire Blvd. and Broadway. Just blocks from the Santa Moni-ca Pier, the Promenade is one of Santa Monica’s larg-est international attractions. Capping the southern end of the promenade is Santa Monica Place, the indoor mall designed by Frank Gehry, renovated in 2007, to a 3 story outdoor luxury shopping center. It re-opened in the fall of 2010 as a modern shopping-entertain-ment complex with the likes of Bloomingdales, Nike, and Nordstrom.

CONTINUED

CITY OFSANTA MONICA

AREA DESCRIPTION (continued)

The Village at Santa Monica, a $350 million mixed-use, mixed-income development that is the final piece in the revitalization of the civic hub in thriving down-town Santa Monica, is the newest and most central piece of Santa Monica’s revitalization.

Steps from the beach, The Village at Santa Monica is an urban mix of 318 luxury condominiums and afford-able rental apartments, 20,000 square feet of retail and restaurants, and walkable plazas and gardens. The Village at Santa Monica, a $350 million mixed-use, mixed-income development that is the final piece in the revitalization of the civic hub in thriving down-town Santa Monica.

Shutters Hotel, Casa Del Mar, Lowes Beach Hotel and the Viceroy Hotel are 5 star destination hotels all within an easy reach of the subject property, offering dining as well as world class lodging.

Palisades Park stretches out along the bluffs overlook-ing the Pacific Ocean and is a favorite walking area to view the ocean. High bluffs separate the north side of the city from the beaches.

Santa Monica has two hospitals: Saint John’s Health Center and Santa Monica-UCLA Medical Center. San-ta Monica has its own government, schools, police and fire department.

Santa Monica is well known as one of the leading sus-tainable cities in all of the U.S., with 3 of every 4 public

works vehicles run on “green” alternative fuel, making it among the largest such fleets in the country. All pub-lic buildings use renewable energy. City officials and residents have made the ongoing cleanup of the Santa Monica Bay a priority, along with extensive curbside re-cycling, farmers’ markets, community gardens, and the city’s bus system. Santa Monica is a bicycle friendly city.

EDUCATION

EDUCATION

The Santa Monica-Malibu Unified School District provides nationally ranked public education at all levels. With 7 elementary schools, and 2 middle schools and 2 high schools. The city of Santa Monica is consistently among the most educated cities in the United States, with 23.8 percent of all residents holding graduate degrees.

Many top private schools are also located in Santa Monica. Santa Monica College is a junior college originally founded in 1929. Many SMC graduates transfer to the University of California system. It occupies 35 acres and enrolls 30,000 students annually. The Frederick S. Pardee RAND Graduate School, associated with the RAND Corporation, is the U.S.’s largest producer of public policy PhDs. is also located in Santa Monica.

Universities and colleges within a 22-mile radius from Santa Monica include Santa Monica College, Loyola Marymount University, Mount St. Mary’s College, Pepperdine University, California State University, Northridge, California State University, Los Angeles, UCLA, USC, West Los Angeles College, California Institute of Technology (Caltech), Los Angeles City College, Los Angeles Southwest College, and Los Angeles Valley College.

AREA DESCRIPTION (continued)

TRANSPORTATION/ ECONOMY

AREA DESCRIPTION (continued)TRANSPORTATIONExpo Phase 2 the long awaited $1.5 billion, light rail expansion of the Los Angeles Metro Expo Line will connect Santa Monica to Downtown Los Angeles in less than 45 minutes, with over 6 miles of tracks. The line will add 19 stations, 7 trains and parking facilities to serve popular destinations like USC, Exposition Park, the Mid-City Communities, the Crenshaw District, Culver City, and West Los Angeles. 4th/Colorado will become the westernmost station in the Metro Rail system, and is just 1 mile from the subject property. Phase 2 construction has already begun and is expected to be fully completed in 2015. Metro estimates that the daily ridership between Santa Monica and downtown Los Angeles will be roughly 64,000 passengers by the year 2030.The city of Santa Monica is also served by the Los Angeles County Metropolitan Transportation Authority’s bus lines. Metro is working on bringing light rail to Santa Monica in the form of the Exposition Line.

Santa Monica runs its own bus service, the Big Blue Bus, which also serves much of West Los Angeles and the University of California, Los Angeles (UCLA).

Nearby freeways include the Santa Monica Freeway (Interstate 10) begins in Santa Monica near the Pacific Ocean and heads east towards downtown Los Angeles, one of the busiest highways in all of North America. Just east of Santa Monica is Interstate 405, the “San Diego Freeway”, a major north-south route in San Fernando Valley, Los Angeles County and Orange County.

Santa Monica has its own airport. Los Angeles International Airport, is a few miles south.

ECONOMY - EMPLOYMENTSanta Monica has become the epicenter for Los Ange-les’ fastest growing companies in the tech, social media, creative tech and electronic, and entertainment indus-tries. These tenants are drawn to the beach side vibe and prefer the creative campuses and environments projected in such tech and entertainment companies that have given rise to the name “Silicon Beach”. This reflects Santa Monica’s tech boom where some of the largest tech and entertainment companies are head-quartered including: Yahoo, Google, Lionsgate Films, the Art Institute, Edmunds.com, eHarmony, Univesrsal Music Group and Sony Computer Entertainment, to name a few. According to the Santa Monica Chamber of Commerce, Santa Monica has over 300 companies representing more than 60 industries within its borders.

SANTA MONICA TOP EMPLOYERS

COMPANY EMPLOYEES

City of Santa Monica 2,528

Santa Monica College 2,086

Saint John’s Health Center 1,796

Santa Monica – UCLA Medical Center 1,780

Santa Monica-Malibu Unified Schools 1,500

RAND Corporation 894

Universal Music Group 850

Beachbody 704

Activision Blizzard 692

ET Whitehall (Shutters and Casa del Mar) 534

Viacom Media Networks 648

Loews Hotels 434

Lionsgate Entertainment 425

Yahoo! 390

MARKET COMPARABLES

SALE COMPARABLES

Address# of Units

Year Built

Sales Price

Date SoldPrice

per UnitPrice PSF Cap Rate Mix

1 817 14th St 7 1923 $2,470,500 11/6/2012 $352,929 $468.08 N/A29% 0+1

57% 2+1 2+2 14% 3+1

2 1311 California Ave 8 1965 $3,000,000 10/15/2012 $375,000 $347.38 4.18%12% 0+1 50% 1+1 38% 2+2

3 2101 California Ave 9 1962 $3,850,000 5/2/2012 $427,778 $347.72 4.42%89% 2+2 11% 3+2

4 928 6th St 12 1969 $5,000,000 12/19/2012 $462,963 $385.48 N/A8% 0+1

50% 1+1 1+2 42% 2+2

5 843 16th St 13 1973 $6,000,000 4/4/2012 $461,538 $335.42 4.00%8% 1+2

92% 2+2

6 834 4th St 32 1972 $10,700,000 11/6/2012 $334,375 $350.82 N/A56% 1+1 41% 2+2 3% 3+3

7 2200 Colorado Ave 350 2001 $167,700,000 9/14/2012 $479,143 $541.11 3.80%54% 1+1

41% 2+1 2+2 5% 3+2

FINANCIAL PROFORMA

INCOME & EXPENSES | EXECUTIVE SUMMARY | RENT ROLL & LOCAL RENT COMPS

Unit Mix Type Plan Approx s.f. Rentable S.F. (Est.) Avg. Current Rent/Sq. Ft. Market Mkt/s.f.

12 2 Bed, 1 Bath A 869 10,428 $1,877 $2.16 $2,465 $2.8417 1 Bed, 1 Bath B 684 11,628 $1,529 $2.24 $2,029 $2.972 1 Bed, 1 Bath/Den C 822 1,644 $1,061 $1.29 $2,250 $2.74

31 765 23,700 $1,634 $2.14 $2,212 $2.89

Income Notes Current Rent Market ProformaTotal Rental Revenue $607,668 $822,876

Less: Vacancy/collection 3.00% ($18,230) ($24,686)

Net Rental Income $589,438 $798,190Other Income

Plus: Laundry Income $9,600 $9,600Plus: Tenant Fees $3,000 $3,000

Effective Gross Income (EGI) $626,991 $831,743

Expenses Per UnitMaintenance & Repairs $526 $16,317 $16,317License & Permit $23 $720 $720Janitorial $193 $5,991 $5,991Utilities $709 $21,966 $21,966Rent Stabilization $146 $4,524 $4,524Contract Services (elev, pest, pool) $155 $4,808 $4,808Payroll - Onsite $799 $24,756 $24,756Landscaping $91 $2,830 $2,830Rubbish $168 $5,194 $5,194Insurance $251 $7,786 $7,786Professional Management Fee 3.50% $708 $21,945 $29,596Real Estate Taxes 1.200000% $4,181 $129,600 $129,600Replacement Reserve $200 $6,200 $6,200

Total Expenses $252,637 $260,288

Per Unit: $8,150 $8,396Per Foot: $10.66 $10.98

Net Operating Income $374,354 $571,455

Less: Debt Service ($277,512) ($277,512)Projected Net Cash Flow $96,842 $293,943

Cash-on-Cash Return 1.70% 5.15%Debt Coverage Ratio 1.35 2.06

Returns (with Principle Reduction)

Avg. Interest Payment ($166,056) ($166,056)Cash Flow (After Principal Reduction) $208,298 $405,399Avg. Principal Reduction $108,382 $0Cash-on-Cash Return (W/Principal Reduction) 3.65% 7.10%Cash Available after Debt Service $99,916 $405,399Debt Coverage Ratio 1.36 2.08

Cap Rate Analysis Price $/Unit $/Foot Current Cap Current GRM Market Cap Market GRMAsking Price $10,800,000 $348,387 $455.70 3.47% 17.50 5.29% 12.97

All Financing Total Loan Amount LTV Down Payment Mo. Payment Debt Constant$5,093,000 47% $5,707,000 ($23,126) 5.4%

First Mortgage (Existing)LTV for this loan Amount Interest Rate Amortization Payment Fees Avg. Mo Int Pmt Avg. Mo Prin Pmt Term (Yrs)

47% $5,093,000 3.50% 30 ($23,126) 1.00% ($13,838) ($9,032) 7

DRAFT REPORT: Privileged & Confidential, For Discussion Purposes Only

PRO FORMA INCOME & EXPENSES

2727 6th StreetSanta Monica, CA

© 2013 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. This is an opinion of value or comparative market analysis and should not be considered an appraisal. In making any decisions that rely upon this analysis, it should be noted that we have not followed the guidelines for development of an appraisal or analysis contained in the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation.

FINANCIAL PROFORMA (continued)

INCOME & EXPENSES | EXECUTIVE SUMMARY | RENT ROLL & LOCAL RENT COMPSEXECUTIVE SUMMARY

Property Information

Number of Units 31Rentable Square Feet 23,700Average Square Feet per Unit 765Vacancy 3.00%Year Built 1969Average Current Rent $1,634Average Market Rent $2,212

Purchase Summary

Offering Price $10,800,000Price Per Unit $348,387Price Per Square Foot $455.70Current GRM 17.50Current Capitalization Rate 3.47%Market GRM 12.97Market Capitalization Rate 5.29%All Cash 10-Year IRR 8.81%Leveraged 10-Year IRR 11.81%

Year One Forecasted Operations Summary

Effective Gross Income $626,991Operating Expenses $116,837Real Estate Taxes $129,600Capital Reserves $6,200

Net Operating Income (NOI) $374,354

DRAFT REPORT: Privileged & Confidential, For Discussion Purposes Only

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

EOY 1 EOY 2 EOY 3 EOY 4 EOY 5 EOY 6 EOY 7 EOY 8 EOY 9 EOY 10

$374

,354

$421

,659

$455

,147

$483

,706

$513

,791

$545

,481

$578

,858

$614

,010

$651

,028

$690

,007

Net Operating Income

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000

18,000,000

EOY 1 EOY 2 EOY 3 EOY 4 EOY 5 EOY 6 EOY 7 EOY 8 EOY 9 EOY 10

$10,

330,

180

$11,

151,

420

$11,

851,

140

$12,

588,

100

$13,

364,

260

$14,

181,

580

$15,

043,

000

$15,

950,

480

$16,

905,

000

$17,

910,

480

Residual Property Value

38.7%

54.8%

6.5%

Unit Mix Summary

2 Bed, 1 Bath

1 Bed, 1 Bath

1 Bed, 1 Bath/Den

INCOME & EXPENSES | EXECUTIVE SUMMARY | RENT ROLL & LOCAL RENT COMPS

FINANCIAL PROFORMA (continued)

RENT ROLLUNIT TYPE CURRENT RENT MARKET RENT

101 1/1 $832.09 $2,000.00

102 2/1 $2,019.09 $2,350.00

103 1/1 $1,104.09 $2,000.00

103-A 1/1 $1,750.00 $2,000.00

104 (Mgr.) 1/1 $1,963.00 $2,000.00

105 1/1 $1,750.00 $2,000.00

106 2/1 $2,350.00 $2,350.00

107 1/1 $1,839.00 $2,000.00

108 1/1 $1,839.00 $2,000.00

201 1/1 $2,051.00 $2,050.00

202 2/1 $1,054.09 $2,395.00

203 1/1 $854.09 $2,050.00

203-A 1/1 $1,800.00 $2,050.00

204 2/1 $1,054.09 $2,395.00

205 2/1 $2,195.00 $2,395.00

206 1+D/1 $1,039.62 $2,250.00

207 1+D/1 $1,082.09 $2,250.00

208 1/1 $1,750.00 $2,050.00

209 1/1 $1,800.00 $2,050.00

210 2/1 $2,168.09 $2,395.00

211 1/1 $1,963.00 $2,050.00

212 1/1 $1,900.00 $2,050.00

301 1/1 $1,054.09 $2,050.00

302 2/1 $2,343.77 $2,550.00

303 2/1 $1,054.09 $2,550.00

304 2/1 $1,039.62 $2,550.00

305 2/1 $2,350.00 $2,550.00

306 2/1 $2,350.00 $2,550.00

307 2/1 $2,545.09 $2,550.00

308 1/1 $926.09 $2,050.00

309 1/1 $832.09 $2,050.00

31 Units $50,652.18 $68,580.00

Laundry $800.00 $800.00

Garage $250.00 $250.00

Total: $51,702.18 $69,630.00

RENTAL COMPARABLES

601 Ashland Ave1+1 $2,450Year Built 1924# Units 6

1114 12th Street2+1 $2,350Year Built 1971# Units 23

1122 9th Street2+2 $2,495Year Built 1969# Units 10

512 Ocean Park Blvd.2+1 $2,6501+1 $1,950Year Built 1922# Units 5

There are very few available apts. in this submarket of Santa Monica.

Please do not disturb Manager or Tenants

Showings by Appointment Only - Call Listing Agent

MELINDA RUSSELLFirst Vice PresidentPCG Multi-Housing GroupLic. 00860306+1 818 907 4704melinda.russell@cbre.com

CBRE, Inc.111 Universal Hollywood Drive, 27th Floor, Universal City, CA 91608 | www.cbre.com/lanorth

© 2013 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.