OFFERING MEMORANDUM

6119 FOUNTAIN AVE LOS ANGELES CA 90028PRICE $2,999,000

SETH HAMILTON 714.397.6077SETH@STREETLAMPPROPERTIES.COMBRE# 01897619

STREETLAMPPROPERTIES.COM

Turn key | No rent control | High cash flow5.3% CAP RATE / 13.81 GRM

NEW CONSTRUCTION FOURPLEXLOCATED IN PRIME HOLLYWOOD NEIGHBORHOOD

T A B L E O F C O N T E N T S

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T H E O F F E R I N G2 Front unit3 Rear unit5 Property overview6 Site7 Site plans

P R O P E R T Y D E TA I L S13 Rent roll/MLSlisted rent comps14 MLS listed sale comps

S C H O O L S16 Attractions19 Other properties21 Contact

S T R E E T L A M P R O P E R T I E S . C O M1

We are pleased to announce the offering of a new construction green certified fourplex in a prime Hollyood location near Sunset and Gower! This property is under construction with an anticipated completion end of March 2017. The property will be deliveredvacant and is not subject to rent control.

This luxury fourplex offers 11 bedrooms and 12.5 bathrooms in four townhouse style units. All units are finished with high quality materials, private laundry rooms, open floorplans and stainless steel kitchen appliances. All units are equipped with separate meters for water, gas, electricity as well as a fifth common area electric and water meter for servicing exterior lighting and landscape irrigation. Plans include installation of ‘LID’ containers for rain runoff capturing, drought tolerant landscaping and energy efficient appliances and fixtures presenting the buyer with a low maintenance green certified property.

This project boasts a 92 walk score and is just a block from sunset blvd in the mix of all the activity. It is also in close proximity to public transportation, and major freeways making it easy and convenient for daily commuting.

New construction four unit projects such as this are a great find and when available lease at higher rates than competing older properties. Nieghborhood rents are very strong, bringing a 13.81 Grm and 5.3% Cap rate to the buyer.

The developer is willing to entertain offers prior to completion. Don’t hesitate to contact us with any questions or to submit an offer.

T H E O F F E R I N G

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P R I V AT E L A Y O U T S

L U X U R Y L I V I N G

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THE PROPERTY: APN: 5546-021-028

# of Units: 4

Year Built: 2017

Building Size (SF): 6,420

Lot Size (SF): 6,441

Zoning: LAR3

THE OFFERING: List Price: $2,999,000

GRM: 13.81

Cap Rate: 5.3%

Price per SF: $467.13

Price per Unit: $749,750

AMENITIES: Covered Parking: 8

Uncovered Parking: 0

Laundry: Private Each Unit

Floors: 3

Tenant Meters: (water/gas/electric) 4

Owner/Common Meters: (water/electric) 1

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S I T E

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P R O P E R T Y D E T A I L SSUMMARIZED PRICING METRICS BUILDING DESCRIPTION PROPOSED FINANCING

PRICE: $2,999,000 NO. OF UNITS 4 LOAN AMOUNT $2,009,330DOWN (33%): $989,670 YR. BUILT 2017 INTEREST RATE 3.8%PRO FORMA GRM: 13.81 YR. RENOVATED - MONTHLY PAYMENT $9,363PRO FORMA CAP RATE: 5.3% ZONING LAR3-1XL LTV 67%$/UNIT: $749,750 LOT SIZE (SQ FT) 6,441 AMORTIZATION (YEARS) 30$/SF: $467 GROSS SF 6,420 DSCR 1.42

ANNUALIZED OPERATING DATA PRO FORMA ANNUALIZED EXPENSES PRO FORMAFIXED EXPENSES

GROSS POTENTIAL RENTAL INCOME $217,200 REAL ESTATE TAXES 1.19% $35,688 GAIN (LOSS)-TO-LEASE $0 INSURANCE .35/SQ FT $2,247GROSS SCHEDULED RENTAL INCOME $217,200 UTILITIES $918 LESS: VACANCY 5% -$10,860EFFECTIVE GROSS INCOME $206,340 CONTROLLABLE EXPENSES LESS: EXPENSES $46,253 PROPERTY MANAGEMENT $1050/UNIT $4,200 MISCELLANEOUS INCOME $0 REPAIRS & MAINTENANCE $400/UNIT $1,600NET OPERATING INCOME $160,087 UNIT TURNOVER $400/UNIT $1,600

DEBT SERVICE -$112,351.45 TOTAL EXPENSES $46,253PRE-TAX CASH FLOW 4.8% $47,735.45 EXPENSES/UNIT $11,563 PRINCIPAL REDUCTION $35,996.91 EXPENSES/SQ FT $7.20TOTAL RETURN 8.46% $83,732.36 % OF EGI 22.4%

P U B L I C LY L I S T E D R E N T A L C O M P S

UNIT # STATUS UNIT TYPE UNIT SIZEPRICE/ SQ FT

SCHEDULED GROSS INCOME LAUNDRY GARAGE FLOORS

1 VACANT 2B/2.5B 1,255 $3.03 $3,800 PRIVATE ROOM 2 ATTACHED 32 VACANT 3B/3.5B 1,891 $2.64 $5,000 PRIVATE ROOM 2 ATTACHED 33 VACANT 3B/3.5B 1,972 $2.59 $5,100 PRIVATE ROOM 2 ATTACHED 34 VACANT 3B/3B 1,302 $3.23 $4,200 PRIVATE ROOM 2 ATTACHED 34 VACANT 11B/12.5B 6,420 $2.87 $18,100 4 PRIVATE 8 GARAGES 3

ADDRESS STATUS UNIT TYPE YR. BUILT UNIT SIZE RENT $/SF LEASE/LIST DATE5941 BARTON AVE #103 ACTIVE 2B/2.5B 2016 1,500 $3,950 $2.63 1/16/175941 BARTON AVE ACTIVE 2B/2.5B 2016 1,750 $4,335 $2.48 11/30/161550 N EL CENTRO AVE ACTIVE 2B/2.5B 2016 1,968 $5,400 $2.74 1/31/171550 N EL CENTRO AVE ACTIVE 2B/2B 2016 1,303 $4,800 $3.68 1/31/177320 HAWTHORN AVE #304 LEASED 2B/2B 1985 1,130 $4,325 $3.83 10/6/166068 W STUDIO CT LEASED 3B/3.5B 2015 1,500 $5,500 $3.67 8/1/166546 LA MIRADA AVE LEASED 3B/3.5B 2016 1,600 $4,595 $2.87 8/31/166683 FRANKLIN AVE #6 LEASED 2B/3B 2008 1,860 $4,700 $2.53 8/10/161944 N WHITLEY AVE #PH313 LEASED 3B/3B 1964 1,650 $4,300 $2.61 10/5/16317 S ORANGE DR LEASED 3B/3B 1927 1,500 $4,200 $2.80 7/20/16COMPARABLE AVERAGE: 1,576 $4,611 $2.98

SUBJECT PROPERTY: VACANT 2017 1,605 $4,525 $2.82S T R E E T L A M P R O P E R T I E S . C O M13

R E N T R O L L

P U B L I C LY L I S T E D S A L E C O M P SADDRESS STATUS UNIT COUNT BED BATH COUNT YR. BUILT SQ FT PRICE GRM $/SF SALE/LIST DATE316 N KENMORE AVE SOLD 4 12B/7B 2015 4,650 $1,975,000 14.61 $424.73 2/27/01248 S SYCAMORE AVE ACTIVE 4 8B/8B 1928 6,912 $3,500,000 24.53 $506.37 5/20/016546 LA MIRADA AVE SOLD 4 10B/12B 2016 5,920 $2,690,000 13.41 $454.39 3/29/016007 BARTON AVE PENDING 4 10B/8B 2016 5,550 $2,699,000 13.77 $486.31 4/30/01637 S BURNSIDE AVE ACTIVE 6 10B/6B 1939 6,595 $2,900,000 18.40 $439.73 3/14/01301 N DOUGLAS ST ACTIVE 4 12B/8B 2016 4,844 $2,399,000 15.81 $495.25 5/9/01868 S LUCERNE BLVD ACTIVE 2 5B/4B 2010 4,960 $2,285,000 12.69 $460.69 4/4/01159 S DETROIT ST ACTIVE 2 6B/4B 1929 5,188 $2,275,000 0.00 $438.51 3/13/01617 N PLYMOUTH ACTIVE 4 16B/16B 1924 4,368 $2,700,000 14.06 $618.13 9/9/016508 CERRITOS PL ACTIVE 8 16B/8B 1927 6,620 $3,400,000 16.71 $513.60 5/27/01COMPARABLE AVERAGE: 1972 5,561 $2,682,300 16.00 $483.77

SUBJECT PROPERTY: VACANT 4 11B/13B 2017 6,420 $2,999,000 13.81 $467.13

COMP $/SQ FT $483.77SUBJECT SQ FT 6,420SUGGESTED VALUE $3,105,802

COMP GRM 16.00SUBJECT GROSS POTENTIAL RENT $217,200SUGGESTED VALUE $3,475,087

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S C H O O L S

1 Stratford School .33 miles

2 Hollywood Primary Center .34 miles

3 Citizens of the World .35 miles

4 Joseph Le Conte Junior High School .35 miles

5 Montessori Shir Hashirim .43 miles

6 Vine Street Elementary School .49 miles

7 Helen Bernstein High School .52 miles

8 Apex Academy .52 miles

9 Santa Monica Community Charter School .56

10 Grant Elementary .64 miles

11 Hollywood Senior High School .93 miles

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D E M O G R A P H I C SW A L K S C O R EW A L K 9 2 %

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A F R I C A N A M E R I C A N 1 , 0 7 5A S I A N O R P A C I F I C I S L A N D E R 2 1I N D I A N 5 7M I X E D R A C E S 5 8 7O T H E R 1 1 6W H I T E 7 , 8 9 8H I S P A N I C 2 2 , 6 6 0

L O C A L FA V O R I T E S

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S T R E E T L A M P R O P E R T I E S . C O M

648 N. RAMPART BLVD, LOS ANGELES 90026

FEBRUARY 2017; $1,849,000; 3 UNITS - 10B/10B (1X 4B/4B, 2X 3B/3B); TOTAL SQ FT 4,917, LOT SF 7,301; GROSS RENTS TBD. GREAT SETUP OF THREE UNITS IN ECHO PARK WITH DETACHED MAIN HOUSE AND A DETACHED 2,682 SQ. FT DUPLEX IN THE REAR OF THE LOT. | ACCEPTING BACKUP OFFERS

627 N MARIPOSA AVE, LOS ANGELES 90004

MARCH 2017; $2,249,000; 4 UNITS - 12B/10B (2X 3B/2.5B, 1X 3B/2B, 1X 3B/3B); TOTAL SQ FT 4,962, LOT SF 7,504; GROSS RENTS TBD. THIS PROPERTY BOASTS 4 LARGE SIZED UNITS CENTRALLY LOCATED BETWEEN HOLLYWOOD AND KOREATOWN. | PREMARKET - ACCEPTING OFFERS

5313 RIVERTON AVE, NORTH HOLLYWOOD 91601

APRIL 2017; PRICE TBD; 4 UNITS - 12B/10B (1X 3B/2B, 1X 3B/2.5B, 2X 3B/3B); TOTAL SQ FT 5,554, LOT SF 5,400; GROSS RENTS TBD. FOUR TRI-LEVEL TOWNHOUSE STYLE UNITS. AWESOME NORTH HOLLYWOOD LOCATION SITUATED JUST MINUTES FROM NOHO ARTS DISTRICT AND TOLUCA WOODS | PREMARKET - ACCEPTING OFFERS

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5756 FULCHER AVE, NORTH HOLLYWOOD 91601

APRIL 2017; PRICE TBD; 3 UNITS - 11B/8.5B (1X 3B/2.5B, 2X 4B/3B); TOTAL SQ FT 4,673, LOT SF 6,999, GROSS RENTS TBD. MIRROR IMAGE TO 5650 FULCHER. LOCATED JUST 1 MILE FROM THE NOHO ARTS DISTRICT, VALLEY VIL-LAGE AND TOLUCA WOODS. PROJECT IS BEGINNING CONSTRUCTION IN AUGUST 2016. | PREMARKET - ACCEPTING OFFERS

1005 N. OXFORD AVE, LOS ANGELES 90029

FEBRUARY 2017; $2,249,000; 4 UNITS - 12B/12B (4X 3B/3B); TOTAL SQ FT 5,850, LOT SF 6,025; GROSS RENTS TBD. NEW CONSTRUCTION FOURPLEX LOCATED IN A CENTRAL HOLLYWOOD NEIGHBORHOOD. PROPERTY HAS TWO BUILD-INGS WITH 4 LARGE SIZED UNITS TOTALING ALMOST 6,000 SQ FT OF LIVABLE SQ FT. | ACCEPTING BACKUP OFFERS

5650 FULCHER AVE, NORTH HOLLYWOOD 91601

APRIL 2017; PRICE TBD; 3 UNITS - 11B/8.5B (1X 3B/2.5B, 2X 4B/3B); TOTAL SQ FT 4,673, LOT SF 6,999, GROSS RENTS TBD. PROPERTY BOASTS A DETACHED FRONT HOUSE AND A REAR DUPLEX. LOCATED JUST 1 MILE FROM THE NOHO ARTS DISTRICT, VALLEY VILLAGE AND TOLUCA WOODS. PROJECT IS BEGINNING CONSTRUCTION IN AUGUST 2016.| PREMARKET - ACCEPTING OFFERS

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C O N T A C T I N F O

P L E A S E V I S I T :S T R E E T L A M P R O P E R T I E S . C O MF O R M O R E I N F O R M AT I O N O N O U R U P C O M I N G P R O P E R T I E S .

I n f o r m a t i o n P r o v i d e d b y : S e t h H a m i l t o n , B R E # 0 1 8 9 7 6 1 9C i t i v e s t R e a l t y S e r v i c e s , B R E # 0 1 8 7 5 8 2 3

2 . 5 % C o o p e r a t i n g B r o k e r C o m p e n s a t i o n

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