OFFERING MEMORANDUM

9949 PINEWOOD AVE TUJUNGA , CA

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EXCLUSIVELY LISTED BY

DANIEL WITHERS Senior Vice President & Senior Director

D: +1 (818) 923-6107M: +1 (310) 365-5054daniel.withers@matthews.com License No. 01325901 (CA)

040616

TABLE OF CONTENTS

Property Overview

Area Overview

Financial Overview

ADAM FELDMAN Associate

D: +1 (818) 923-6112M: +1 (310) 749-8140adam.feldman@matthews.com License No. 0209072 (CA)

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0 1PROPERTY OVERVIEW

9949 PINEWOOD AVE

TUJUNGA , CA

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THE OPPORTUNITY 9949 Pinewood Avenue is a ten-unit apartment building located in Tujunga, CA. Built in 1962 this ten-unit property features a great unit mix of (6) one-bedroom, one-bathroom units and (4) two-bedroom, one-bathroom units.

With 48% upside this property has attractive upside potential for an investor. There has been three apartment transactions in Tujunga in the last 12 months, this is a rare opportunity to purchase a property in this market.

Located directly in-between Tujunga Canyon Boulevard and Foothill Boulevard tenants benef it f rom the restaurants and businesses located around the corner on Foothill Blvd. The Property is a short drive f rom the 210 f reeway which provides access to the rest of the San Fernando and San Gabriel Valley

PROPERTY HIGHLIGHTS • 10-Units built in 1962

• Unit Mix (6) 1+1 (4) 2+1

• 42% Potential rental upside

• Walk Score 77-Very Walkable

• Walking distance to restaurants and businesses on Foothill BLVD

• Healthy Laundry Income

• 7,718 SQFT on a 8,503 SQFT Lot zoned LAR3

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0 2AREAOVERVIEW

9949 PINEWOOD AVE

TUJUNGA , CA

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PROPERTY DEMOGRAPHICS

Sunland-Tujunga is a neighborhood in the San Fernando Valley region of the city of Los Angeles located by the foothills of the San Gabriel Mountains in the Crescenta Valley. Though Sunland and Tujunga began as separate settlements, they are today linked through a single police station, branch library, neighborhood council, chamber of commerce, City Council district, high school, and various civic organizations. Sunland-Tujunga contains the highest point of the city, Mount Lukens.

The Sunland Recreation Center serves as a police department stop-in center. It has a 250-seat gymnasium that is also used as an auditorium. In addition, the facility has a lighted baseball diamond, lighted outdoor basketball courts, a children’s play area, a community room, a lighted athletic f ield, picnic tables and tennis courts. Annual events there include the Easter Carnival and the Watermelon Carnival in mid-August. In addition, the Verdugo Mountain Park is east of central Sunland and south of La Tuna Canyon Road.

McGroarty Arts Center is Historic Cultural Monument No. 63 of the City of Los Angeles. It was built in 1923 by John McGroarty, poet, Los Angeles Times columnist, and author who served two terms as a Democratic congressman f rom California. The building now offers instruction in art, music and performance, exhibitions, and hosts cultural events.

Angeles National Golf Club, at the base of the Angeles National Forest, is the only Nicklaus Design golf course in Los Angeles County and is an 18-hole, par-72 championship golf course.

TUJUNGA, CA

Population 1 Mile 3 Mile 5 Mile2025 Projection 22,442 67,911 182,241

2020 Estimate 21,931 66,308 177,407

2010 Census 23,358 64,045 169,946

Growth 2020-2025 2.33% 2.42% 2.73%

Households 1 Mile 3 Mile 5 Mile2025 Projection 8,160 23,886 65,458

2020 Estimate 7,976 23,381 63,920

2010 Census 7,741 22,820 61,933

Growth 2020-2025 2.31% 2.16% 2.41%

Income 1 Mile 3 Mile 5 MileAverage HH Income $85,219 $112,210 $119,581

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Southern California’s San Fernando Valley, encompassing the City of Burbank, City of Calabasas, City of Glendale, City of Los Angeles and City of San Fernando.

The San Fernando Valley is an urbanized valley in Los Angeles County, California in the Los Angeles metropolitan area, defined by the mountains of the Transverse Ranges circling it. Comprised of nearly 350 square miles of prime southland real estate, the San Fernando Valley is home to more than 1.8 million residents. About 80 percent of the San Fernando Valley is actually part of the City of Los Angeles, but the Valley also includes other independent cities which are attractive locations for business: Burbank, Calabasas, Glendale, Hidden Hills, and San Fernando.

In addition to the many popular studio tours, historical sites, theaters and museums, the San Fernando Valley offers an incredible array of fine dining, shopping, lodging and recreational opportunities, along with world-class attractions at each of the scenic entrances to our Valley, including the magnificent new Getty Center, the Hollywood Bowl and the Los Angeles Zoo at the southern entrances; the site of the granddaddy of all college bowl games — the Rose Bowl — at the east; the Ronald Reagan Presidential Library at the west; and the tallest, fastest roller coasters in the world at Six Flags Magic Mountain to the north.

SAN FERNANDO VALLEY

As home to the world’s major movie studios, the San Fernando Valley is where celebrities live, work, and play. It’s made up of gorgeous suburbs and mini-malls.

Major network and movie studios call it home

MAJOR EMPLOYERS

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ENTERTAINMENTPARAMOUNT PICTURES LOTSan Fernando Valley boasts one of the nation’s largest concentrations of entertainment activity, home to some of the most well-known companies including The Walt Disney Company, Warner Brothers Ent., Universal Studios, Paramount Pictures, CBS Studios, DreamWorks, Starz Media, ABC Inc., and Nickelodeon Animation. Combined, these companies alone employ over 22,900 workers. Warner Brothers is headquartered at their 142-acre studio lot in Burbank, one of the most notable motion picture and television production facilities in the world.

$120 BILL IONECONOMIC IMPACT

±837,000JOBS SUPPORTED

TRANSPORTATIONHOLLYWOOD BURBANK AIRPORTSituated near local communities, business centers, the entertainment industry, and recreational facilities, Van Nuys Airport (VNY) and Hollywood Burbank Airport (BUR) serve as major economic engines for the San Fernando Valley. Based on the most recent data available, these two hubs combine to generate a $3.8 billion economic impact while supporting over 22,000 jobs annually. BUR hosted approximately 5.2 million passengers in 2018, which equates to a 11% increase annually.

$3.8 B ILL IONECONOMIC IMPACT

±22,000JOBS SUPPORTED

ORANGE LINE EXTENSIONConstruction is underway on a $393 million project that will significantly speed up service along the Orange Line bus route. Already among the most popular public transit lines in The Valley, services through the Orange Line are forecast to speed up by 20% with the construction of crossing gates at 35 intersections, helping buses avoid traffic along San Fernando Valley’s busy corridors. Additionally, a pair of aerial bridges will be built at Sepulveda and Van Nuys Boulevard, in addition to new stations above the streets. Construction on all phases of the project are forecast to be completed by 2025 in time for then 2028 Los Angeles Olympics. Decades after completion, Metro plans to convert this line into a light rail corridor that is expected to open by 2057.

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1. UNIVERSAL STUDIOS HOLLYWOOD

2. HOLLYWOOD BOULEVARD

3. RODEO DRIVE

4. THE GETTY

5. HOLLYWOOD BURBANK AIRPORT

6. VAN NUYS AIRPORT

7. THE GREAT WALL OF LOS ANGELES

8. VALLEY RELICS MUSEUM

9. STARLIGHT BOWL

10. THE SORAYA

11. BURBANK TOWN CENTER MALL

12. VENTURA BOULEVARD

13. VILLAGE AT WESTFIELD TOPANGA

ONE OF LOS ANGELES’ TRUE CULTURAL LANDMARKSAND ONE OF THE COUNTRY’S MOST RESPECTED AND

LARGEST MONUMENTS TO INTER-RACIAL HARMONY

OFFERS A CHOICE OF MORE THAN 170 RETAIL SHOPS, RESTAURANTS, ENTERTAINMENT VENUES

AND LIFESTYLE SERVICES

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ONE OF THE OLDEST AND MOST FAMOUS HOLLYWOOD FILM STUDIOS “THE ENTERTAINMENT CAPITAL OF LA”

UNIVERSAL STUDIOS HOLLYWOOD

LA CULTURAL ICON, WITH MUSEUMS, LANDMARKS AND OTHER HOLLYWOOD ATTRACTIONS THAT CELEBRATE L.A.’S RICH FILM AND

ENTERTAINMENT HERITAGE

HOLLYWOOD BLVD

ONE OF THE MOST FAMOUS STREETS ON THE GLOBE WITH MORE THAN 100 WORLD-RENOWNED

STORES

RODEO DRIVE

FRIENDLIEST, MOST CONVENIENT AIRPORT FOR FLYING TO OR FROM LOS ANGELES, HOLLYWOOD, AND THE SAN FERNANDO

VALLEY

HOLLYWOOD BURBANK AIRPORT

THE MAIN BRANCH OF THE WORLD-CLASS MUSEUM MAY LOOK LIKE AN ELEVATED MODERNIST CITY

THE GETTY CENTERRANKS AS ONE OF THE WORLD’S BUSIEST GENERAL

AVIATION AIRPORTS & AVGS OVER 230,000TAKEOFFS AND LANDINGS ANNUALLY

VAN NUYS AIRPORT

ONE OF LOS ANGELES’ TRUE CULTURAL LANDMARKSAND ONE OF THE COUNTRY’S MOST RESPECTED AND

LARGEST MONUMENTS TO INTER-RACIAL HARMONY

GREAT WALL OF LOS ANGELES

BOASTS ITS VAST COLLECTION OF HISTORICALARTIFACTS PERTAINING TO THE SAN FERNANDO

VALLEY AND SURROUNDING AREAS

VALLEY RELICS MUSEUM

CONVENIENT LOCATION AND SEATS 3,000 IN CHAIRBACK SEATING AND 2,000 MORE ON THE

LAWN FOR A TOTAL CAPACITY OF 5,000

STARLIGHT BOWL

PERFORMANCE PROGRAM OF ±50 MUSIC, DANCE, THEATER, AND INTERNATIONAL EVENTS

THE SORAYA

OFFERS A CHOICE OF MORE THAN 170 RETAIL SHOPS, RESTAURANTS, ENTERTAINMENT VENUES

AND LIFESTYLE SERVICES

BURBANK TOWN CENTER

RUNNING 18 MILES, VENTURA BLVD IS THE WORLD’S LONGEST AVENUE OF CONTIGUOUS

BUSINESSES

VENTURA BLVD

2.1 MILLION SF OF RETAIL GLORY & EVERYDAY STOP FOR WOODLAND HILLS

LOCALS AND A DESTINATION POINT

VILLAGE AT WESTFIELD

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SAN FERNANDO VALLEY DEVELOPMENTS

“24”: THE NEW BRATZ DOLLS HEADQUARTERSThis office campus will incorporate creative office, residential, and retail space on a 24-property that was once home to a Los Angeles Times printing plant. New structures holding 660 apartments and ground-floor retail space will be built around the offices, which will serve as the headquarters for MGA Entertainment. The campus will also feature considerable resident amenities, including two pools, community gardens, outdoor walking tracks, and an open-air amphitheater.

WESTFIELD’S MAKEOVER OF WARNER CENTERDeveloper Westfield is planning a major overhaul of the old Promenade mall site that will bring 1,400 housing units and two hotels (with a total of 572 rooms) to the 34-acre site. New streets and pathways will be built throughout the site, breaking up all of the new buildings. It will also include a central 1-acre public square and parks and courtyards throughout. The developer’s planning to erect the project in phases. The estimated price tag: $1.5 billion.

21031 WARNER CENTER LANEA planned 24-acre complex in Warner Center could bring about 1,000 apartments and condos, a 24-story hotel, and a trio of 15-story office buildings to a site near De Soto and Burbank avenues. The project would transform the Warner Center Corporate Park, which is now occupied by a collection of low-rise buildings. Developer Michael Adler of Adler Realty told the Daily News that he expected to receive the city’s decision on the plans in roughly six months.

IZEK SHOMOFF’S REDO OF PANORAMA TOWERS Downtown developer Izek Shomof wants to repurpose a 13-story midcentury office building designed by Welton Becket. His plan is to incorporate into housing and retail in the tower and to build an outdoor mall and parking structure to complement it. The high-rise has been empty since the 1994 Northridge earthquake. Shomof bought it in 2015, paying $12.5 million.

BURBANK TOWN CENTERThe Burbank Town Center’s Ikea has moved about 1 mile away, and developers Crown Realty and Development Inc. have big plans for the spot it left behind. They intend to raze the old Ikea and build 765 multi-family units; an additional 70 for-sale units would be built at 800 North San Fernando Boulevard. The rest of the mall would be thoroughly renovated, with the help of CAPREF Manager LLC, to include an open-air plaza and 40,000 square feet of new retail space.

THE ICON AT PANORAMA CITYBeverly Hills-based Icon Company plans to tear down three commercial buildings, including the shuttered Montgomery Ward, at Roscoe Boulevard and Tobias Avenue, to make way for seven new buildings measuring 584,000 square feet. That space would hold 423 units of multifamily housing plus 200,000 square feet of commercial floor area. At the center of all of that? A six-level parking garage with spaces for 1,690 cars.

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WEDDINGTON GOLF AND TENNIS MAKEOVERThe Weddington family wants to give their golf course a facelift, and the latest version of the plan includes constructing 200 apartments in a 41-foot-tall structure on about a quarter of the site along the way.

6606 VARIEL AVENot far from the Orange Line’s Canoga Station, developers Evolution Strategic Partners have plans for a residential project rising seven stories tall. Renderings on Urbanize LA show an E-shaped, 271-unit apartment building. The complex would have a pool and rooftop decks, plus two levels of parking.

8845 SEPULVEDA BLVDThis North Hills project—with 364 apartments—will replace a former plant nursery with a complex of four buildings ranging in height from 45 to 85 feet. Forty-four of the units will be earmarked for tenants with low incomes. The project also includes a parking garage with 557 spots, plus a swimming pool and a dog run.

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It’s time to stop thinking of the Valley as a sleepy suburb. From Chatsworth to North Hollywood, plans are in the pipeline to make neighborhoods more city-like, meaning denser and maybe more walkable and bikeable and more transit-f riendly.

In the coming years, developers will build thousands of new units of housing, create open space, bring in new retailers, and build new off ices, creating mini villages within neighborhoods.

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Los Angeles officially the City of Los Angeles and often known by its initials L.A., is the most populous city in California; the second most populous city in the United States, after New York City; and the third most populous city in North America, after Mexico City and New York City. With an estimated population of nearly four million people, Los Angeles is the cultural, financial, and commercial center of Southern California. The city is known for its Mediterranean climate, ethnic diversity, the entertainment industry, and its sprawling metropolis.

The City of Los Angeles holds many distinctions. L.A. is the entertainment capital of the world, a cultural mecca boasting more than 100 museums, many of them world-class, and a paradise of idyllic weather. From tourist attractions like the Walk of Fame’s collection of stars (numbering more than 2,614 and growing by one or two a month) to career opportunities like those presented in the expanding tech industry, Los Angeles is the place to be. It is

the only city in North America to have hosted the Summer Olympics twice - and by 2028 the third time. Downtown L.A. is the largest government center outside of Washington, D.C. Los Angeles has the only remaining wooden lighthouse in the state (located in San Pedro’s Fermin Park) and the largest historical theater district on the National Register of Historic Places (located Downtown on Broadway).

Los Angeles is on the leading edge of several growth industries. The Los Angeles metropolitan area, with more than 23,000 art jobs, is the country’s leading artistic center, surpassing the previous champion, New York. In other words, Los Angeles has both a larger concentration and an absolute number of artists than New York. The L.A. five-county area is also a major tech center, with more than 700,000 people at work in health services/biomedical activities and 190,000 people in aerospace. Here are some more facts and figures about Los Angeles: the city, the county, and the region.

LOS ANGELES

It is the largest and most populous city in the state of California and the cultural, financial, and

commercial center of Southern California.

Los Angeles County employs over 100,000 people alone

A culturally diverse city, with a growing culinary scene, shopping, museums, and a reputation for

being the creative center of America.

The LA economy is famously and heavily based on the entertainment industry, with a particular focus on television, motion pictures, interactive games, and recorded music - the Hollywood district of Los Angeles and its surrounding areas are known as the “Movie Capital of the United States” due to the region’s extreme commercial and historical importance to the American motion picture industry. Other signif icant sectors include shipping/ international trade - particularly at the adjacent Port of Los Angeles and Port of Long Beach, together comprising the United States’ busiest seaport - as well as aerospace, technology, petroleum, fashion and apparel, and tourism.

L.A. County is an entertainment, manufacturing and international trade behemoth, with a fast-growing high-tech and digital media industry cluster largely centered in West L.A. and, increasingly, in the Hollywood area and beyond. With $807 billion in annual output, Los Angeles County ranks among the world’s largest economies. Its GDP, which would rank No. 19 in the world if it were a standalone nation, is larger than Switzerland and Saudi Arabia, and right behind Netherlands and Turkey, underscoring the magnitude of the region’s economy.

LOS ANGELES ECONOMY

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ATTRACTIONSSome of the world’s best-known and most iconic landmarks and attractions call Los Angeles home: the Hollywood Sign; Griff ith Observatory; the Getty Center; the Walt Disney Concert Hall at the Music Center in Downtown L.A.; the Hollywood Walk of Fame; the TCL Chinese Theatre; Space Shuttle Endeavour at the California Science Center; the Battleship USS Iowa located at the Port of Los Angeles in San Pedro; Air Force One at the Ronald Reagan Library; and Universal Studios Hollywood, with its dynamic immersive experience, The Wizarding World of Harry Potter™.

Tourism accelerated Los Angeles County’s economic prosperity in 2018 as visitors pumped an all-time high $23.9 billion directly into the L.A. economy, generating a record $36.6 billion in total economic impact. A new economic impact report released today by Los Angeles Tourism & Convention Board demonstrates the power of tourism in Los Angeles during National Travel & Tourism Week, an annual event established by Congress and organized by the U.S. Travel Association to celebrate the impact of travel.

Tourism supported 534,258 jobs in L.A. County’s Leisure & Hospitality sector, its highest total on record, employing 1 in every 8.5 workers in the county. Reaffirming the strength of the sector, tourism added 9,700 new jobs last year.

TOURISM50 MILLION 50 Million People who traveled to Los Angeles last year

$22 BILLION LA visitors spent $22 billion on hotels, restaurants, shopping, attractions and more

525,000 There are 525,000 jobs supported by the Los Angeles tourism industry

8 YEARS LA has celebrated 8 consecutive years of record growth

ARTS & CULTUREWith various museums and exhibits, Los Angeles is full of inspiring art and diverse cultural experiences. In fact, Los Angeles has more museums and theatres than any other city in the U.S., making it the perfect place to be immersed in arts and culture. Los Angeles is home to more than 105 museums, 225 theaters, 55 magnif icent structures by the world’s top architects and 16 of the world’s most beautiful gardens. It also boasts more than 1,500 theatrical productions annually. The city also has one of the premier contemporary art museums in the world, the Broad, located in Downtown L.A., and also one of the largest collections of cars in the nation at the Peterson Automotive Museum.

SPORTSWith famous venues like the Staples Center at L.A. LIVE, home to the NBA’s Los Angeles Lakers and Los Angeles Clippers, NHL’s L.A. Kings, and Dodger’s Stadium, where the Los Angeles Dodgers serve as a main attraction sports fans flock to in L.A. Los Angeles is also home to several esteemed universities that have large sports followings such as USC and UCLA.

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0 3FINANCIALOVERVIEW

9949 PINEWOOD AVE

TUJUNGA , CA

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9949 PINEWOOD AVENUE TUJUNGA, CA 91042

Number of Units: 10

Year Built: 1962

APN: 2568-013-030

Gross Sq. Ft.: 7,718

Average S.F. Per Unit: 772

Lot Size (Acres): 0.20

Density: 50

LIST PRICE PRICE/UNITPRICE/FOOT

CURRENT MARKET

CAP RATE GRM CAP RATE GRM

$1,995,000 $199,500 $258.49 4.51% 13.21 7.34% 9.36

INVESTMENT SUMMARY

UNIT MIX

TOTALUNITS

UNIT MIX

UNITMIX %

CURRENT MARKET

AVG RENT MONTHLY RENT RENT MONTHLY RENT

6 1+1 60% $1,061 $6,363 $1,630 $9,780

4 2+1 40% $1,481 $5,922 $1,920 $7,680

Scheduled Monthly Rent: $12,285 $17,460

Scheduled Yearly Rent: $147,420 $209,520

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CURRENT MARKET

Scheduled Gross Income: $147,420 $209,520 42% UpsideLess Vacancy Reserve: $7,371 5.0% $10,476 5.0%Laundry Income: $3,600 $3,600 *Gross Operating Income: $143,649 $202,644Expenses: $53,768 36.5% $56,128 26.79% *Net Operating Income: $89,881 $146,516Loan Payments: $70,213 $70,213Pre-Tax Cash Flow: $19,668 2.84% $76,303 11.03% **Plus Principal Reduction: $25,006 $25,006Total Return Before Taxes: $44,674 6.46% $101,310 14.64% **

* As a percent of Scheduled Gross Income

** As a percent of Down Payment

ANNUAL OPERATING SUMMARY

PRO FORMA ESTIMATES % OF SGI CURRENT PER UNIT MARKET PER UNIT % OF SGI

Property Taxes 1.174% x Sale Price 16.31% $23,427 $2,343 $23,427 $2,343 11.2%Off-Site Management 4.0% x GOI 4.00% $5,746 $575 $8,106 $811 3.9%Insurance $0.30 x GSF 1.61% $2,315 $232 $2,315 $232 1.1%Repairs & Maintenance $500 x Units 3.48% $5,000 $500 $5,000 $500 2.4%Turnover $200 x Units 1.39% $2,000 $200 $2,000 $200 1.0%Landscaping $120 x Units 0.84% $1,200 $120 $1,200 $120 0.6%Pest Control $48 x Units 0.33% $480 $48 $480 $48 0.2%Utilities $800 x Units 5.57% $8,000 $800 $8,000 $800 3.8%Trash $360 x Units 2.51% $3,600 $360 $3,600 $360 1.7%General Administration $200 x Units 1.39% $2,000 $200 $2,000 $200 1.0%

Total Expenses 37.43% $53,768 $5,377 $56,128 $5,613 26.8%

CURRENT PER UNIT % OF SGI

Non-controllable expenses: Taxes, Ins., Reserves: $25,742 $2,574 17.5%

Total Expense without Taxes $30,341 $3,034 20.58%

PRO FORMA ANNUAL OPERATING EXPENSES

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UNIT MIX RENT MARKET RENT

1 2+1 $1,458 $1,920

2 1+1 $992 $1,630

3 1+1 $1,236 $1,630

4 1+1 $912 $1,630

5 2+1 $1,363 $1,920

6 2+1 $1,181 $1,920

7 1+1 $966 $1,630

8 1+1 $1,236 $1,630

9 1+1 $1,021 $1,630

10* 2+1 $1,920 $1,920

Totals 10 $12,285 $17,460

Averages $1,229 $1,746

RENT ROLL

Loan Amount $1,303,000 Terms: 30

Down Payment: 35% $692,000 Interest: 3.50%

Yearly Pmt: $70,213 Monthly Pmt: $5,851

Debt Coverage: 1.28

FINANCING

Please contact a Barrington Capital agent for f inancing options:

BRIAN KREBS(949) 777-5988brian.krebs@barringtoncapcorp.com

*Vacant

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SALES COMPARABLES

PROPERTY ADDRESS YEAR BUILT UNITS SF SALE PRICE PRICEPER UNIT PRICE PER SF CAP RATE GRM SALE DATE

9949 Pinewood Ave,Tujunga, CA 1962 10 7,718 $1,995,000 $199,500 $258.49 4.51% 13.21 -

3239 Altura Ave,Glendale, CA 1985 18 31,935 $4,930,000 $273,888 $154.38

- - 7/31/20

7323 Valmont St,Tujunga, CA 1940 8 6,114 $1,875,000 $234,375 $306.67

- 14.35 12/31/19

3221 Altura Ave,La Crescenta, CA 1964 29 27,080 $2,730,000 $142,633 $152.75 4.35%

- 12/20/19

4133 La Crescenta Ave,La Crescenta, CA 1959 14 10,505 $1,158,500 $165,500 $220.56

- - 12/10/19

2754 Montrose Ave,Montrose, CA 1962 10 7,996 $696,000 $139,200 $174.09 4.03% 16.14 12/10/19

3221 Altura Ave,La Crescenta, CA 1964 29 27,080 $2,730,000 $142,633 $152.75

- - 12/4/19

2936 Honolulu Ave,La Crescenta, CA

- 5 4,067 $1,100,000 $220,000 $270.47 - - 11/27/19

2677 Honolulu Ave,Montrose, CA 1954 6 4,030 $1,510,000 $251,666 $374.69 -

- 7/16/19

2841-2851 Montrose Ave,Glendale, CA 1963 46 38,248 $12,780,000 $277,826 $334.14

4.18% 14.84 3/29/19

AVERAGES $205,302 $237.83 4.19% 15.11

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ADDRESS YEAR BUILT NUMBER OF UNITS UNIT MIX ASKING RENT

9949 Pinewood Ave, Tujunga, CA 1962 10 2+1 $1,481

10230 Samoa Ave, Tujunga, CA 1972 24 2+1 $1,970

2387 Florencita Ave, Montrose, CA 1963 10 2+1 $1,950

10097 Tujunga Canyon Blvd, Tujunga, CA 1964 12 2+2 $1,900

8567 Foothill Blvd, Sunland, CA 1988 71 2+2 $1,850

AVERAGES $1,918

RENT COMPARABLES

ADDRESS YEAR BUILT NUMBER OF UNITS UNIT MIX ASKING RENT

9949 Pinewood Ave, Tujunga, CA 1962 10 1+1 $1,061

10204 Tujunga Canyon Blvd, Tujunga, CA 1959 6 1+1 $1,750

10356 Commerce Ave, Tujunga, CA 1983 42 1+1 $1,705

3930 Park Place, Montrose, CA 1963 10 1+1 $1,695

10340 Commerce Ave, Tujunga, CA 1964 12 1+1 $1,375

AVERAGES $1,631

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This Offering Memorandum contains select information pertaining to the business and affairs for 9949 Pinewood Ave. , Tujunga, CA 91042. I t has been prepared by Matthews Real Estate Investment Services™. This Offering Memorandum may not be al l- inclusive or contain al l of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is conf idential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Sel ler or Matthews Real Estate Investment Services™. The material is based in part upon information supplied by the Seller and in part upon f inancial information obtained f rom sources it deems rel iable. Owner, nor their off icers , employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal l iabil ity is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without rel iance upon the material contained herein and conduct their own due dil igence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1 . The Offering Memorandum and its contents are conf idential ;

2 . You wil l hold it and treat it in the strictest of conf idence; and

3. You wil l not , directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services™ expressly reserve the right , at their sole discretion, to reject any and al l expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and unti l a written agreement for the purchase and sale of the Property has been ful ly executed and delivered.

I f you wish not to pursue negotiations leading to the acquisit ion of the Property or in the future you discontinue such negotiations, then you agree to purge al l materials relating to this Property including this Offering Memorandum.

A prospective purchaser ’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be l imited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Sel ler or Matthews Retai l Advisors or any of their aff i l iates or any of their respective off icers , Directors, shareholders, owners, employees, or agents for any damages, l iabil ity, or causes of action relating to this sol icitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

CONFIDENTIALITY & DISCLAIMER STATEMENT

EXCLUSIVELY LISTED BY 9949 PINEWOOD AVE

TUJUNGA , CA

DANIEL WITHERS Senior Vice President & Senior Director

D: +1 (818) 923-6107M: +1 (310) 365-5054daniel.withers@matthews.com License No. 01325901 (CA)

ADAM FELDMAN Associate

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