Each office independently owned and operated

839 Lakme Ave & 226 E. I St - Development Offering839 Lakme Ave | Wilmington Ave, CA 90744

STEPHEN LAMPEExecutive Vice President(310) 802-2501slampe@remaxcir.comBRE #01164364

OLGA WRIGHTInvestment Associate(310) 802-2550owright@remaxcir.comBRE # 01315042

Excellent corner parcel with alley access for new development➢

R3 zoning allows a maximum density of 10 units can be built➢

Developer to pay relocation fees of $41,000 to existing tenants➢

Current income covers carrying costs during approval process➢

RE/MAX COMMERCIAL & INVESTMENT REALTY23001 Hawthorne Blvd, Suite 205Torrance, CA 90505(310) 802-2500www.remaxcir.com

PROPERTY PHOTOS839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

INVESTMENT DETAILS839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

ANALYSIS

Analysis Date July 2018

PROPERTY

Property 839 Lakme Ave & 226 E. I St -

Property Address 839 Lakme AveWilmington Ave, CA 90744

Year Built 1913

FINANCIAL INFORMATION

All Cash

PURCHASE INFORMATION

Property Type MultiFamily

Purchase Price $615,000

Units 2

Total Rentable Sq. Ft. 1,867

LOANS

Type Debt Term Amortization Rate Payment LO Costs

All Cash

INCOME & EXPENSES

Gross Operating Income $25,347

Monthly GOI $2,112

Total Annual Expenses ($9,996)

Monthly Expenses ($833)

Contact Information

Stephen Lampe

(310) 802-2501

slampe@remaxcir.com

BRE #01164364

Olga Wright

(310) 802-2550

owright@remaxcir.com

BRE # 01315042

FINANCIAL SUMMARY839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

UNIT MIX & MONTHLY SCHEDULED

Type Units Actual Total Market Total 839 Lakme Ave 1 $1,039 $1,039 $1,039 $1,039226 E. I St. 1 $1,161 $1,161 $1,161 $1,161TOTALS 2 $2,200 $2,200

ANNUALIZED INCOME Description Actual Market

Gross Potential Rent $26,404 $26,404Less: Vacancy ($1,056) ($1,056)Effective Gross Income $25,347 $25,347Less: Expenses ($9,996) ($9,996)Net Operating Income $15,352 $15,352

ANNUALIZED EXPENSES Description Actual Market

Property Tax (New 1.193%) $7,337 $7,337Building Insurance $624 $624Pest Control $635 $635Repairs & Maintenance $800 $800Reserves $600 $600Total Expenses $9,996 $9,996Expenses Per RSF $5.35 $5.35Expenses Per Unit $4,998 $4,998

INVESTMENT SUMMARY

Price: $615,000

Year Built: 1913

Units: 2

Price/Unit: $307,500

RSF: 1,867

Price/RSF: $329.41

Lot Size: 8,631 sf

Floors: 1

APN: 7423-011-011

Cap Rate: 2.5%

Market Cap Rate: 2.5%

GRM: 23.29

Market GRM: 23.29

ZONING839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

SEC. 12.10. “R3” MULTIPLE DWELLING ZONE.

The following regulations shall apply in the “R3” Multiple Dwelling Zone:

A. Use – No building, structure or land shall be used and no building or structure shall beerected, structurally altered, enlarged, or maintained, except for the following uses, and, when a“Supplemental Use District” is created by the provisions of Article 3 of this chapter, for suchuses as may be permitted therein:

1. Any use permitted in the “R2” Two–family Zone.

2. Group dwellings.

3. Multiple dwellings.

4. Apartment houses. (Added by Ord. No. 107,884, Eff. 9/23/56.)

5. Boarding houses, rooming houses or light housekeeping rooms. (Amended by Ord. No.113,548, Eff. 6/28/59.)

5.5. Child care facilities for not more than 20 children. (Added by No. 145,474, Eff. 3/2/74.)

6. Accessory uses and home occupations, subject to the conditions specified inSection 12.05 A.16. of this Code. (Amended by Ord. No. 171,427, Eff. 1/4/97, Oper. 3/5/97.)

7. (None)

8. Accessory buildings – Same as R1 Zone – Sec. 12.08 A. (Amended by Ord. No. 107,884,Eff. 9/23/56.)

9. (Deleted by Ord. No. 171,427, Eff. 1/4/97, Oper. 3/5/97.)

10. Name plates and signs, and required automobile parking spaces as provided for inSection 12.21 A. of this Code. (Amended by Ord. No. 171,427, Eff. 1/4/97, Oper. 3/5/97.)

11. Senior Independent Housing. (Added by Ord. No. 178,063, Eff. 12/30/06.)

12. Assisted Living Care Housing. (Added by Ord. No. 178,063, Eff. 12/30/06.)

B. Restriction. (Amended by Ord. No. 173,268, Eff. 7/1/00, Oper. 7/1/00.) For any lotdesignated as Public, Quasi-Public, Public/Quasi-Public Use, Other Public, or Open Space on theland use map of the applicable community or district plan; any lot shown on the map as havingexisting lakes, waterways, reservoirs, debris basins, or similar facilities; any lot shown on themap as the location of a freeway right-of-way; and any property annexed to the City of LosAngeles where a plan amendment was not adopted as part of the annexation proceedings:

ZONING839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

Any of the uses permitted by Subsection A. of this section shall require prior approval inaccordance with the provisions of Section 12.24.1 of this Code.

C. Area – No building or structure nor the enlargement of any building or structure shall behereafter erected or maintained unless the following yards and lot areas are provided andmaintained in connection with such building, structure or enlargement:

1. Front Yard – There shall be a front yard of not less than 15 feet; provided, however, that onkey lots the minimum front yard shall be 10 feet. (Amended by Ord. No. 138,744, Eff.12/24/69.)

2. Side Yards – For a main building not more than two stories in height there shall be a sideyard on each side of said building of not less than five feet, except that where the lot is less than50 feet in width, the side yard may be reduced to 10% of the width of the lot, but in no event toless than three feet in width. For a building more than two stories in height, one foot shall beadded to the width of such side yard for each additional story above the second story, but in noevent shall a side yard of more than 16 feet in width be required. (Amended by Ord. No.110,225, Eff. 11/23/57.)

3. Rear Yard – There shall be a rear yard of not less than 15 feet in depth. (Amended by Ord.No. 121,925, Eff. 6/4/62.)

4. Lot Area – (Amended by Ord. No. 174,994, Eff. 1/15/03.) Every lot shall have aminimum width of 50 feet and a minimum area of 5,000 square feet. The minimum lot area perdwelling unit shall be 800 square feet.

However, where a lot has a width of less than 50 feet or an area of less than 5,000 square feetand was held under separate ownership or was of record as of September 23, 1956, and the lotwas created in conformance with the Subdivision Map Act, the lot may be occupied by any usepermitted in this section, except for those uses explicitly requiring more than 5,000 square feet oflot area. In no case, however, shall more than two dwelling units be permitted where a lot has anarea of less than 4,000 square feet.

The minimum lot area per guest room shall be 500 square feet.Exceptions to area regulations are provided for in Section 12.22 C.

LEGAL MAP839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.

AERIAL MAP839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

LOCATION MAP839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

REGIONAL MAP839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

DEMOGRAPHICS839 Lakme Ave | Wilmington Ave, CA 90744

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

Population Characteristic 1 Mile 3 Mile 5 Mile

Ages 0-4 2,792 8,759 29,426

Ages 5-9 3,205 10,399 35,664

Ages 10-14 2,894 9,595 33,393

Ages 15-19 2,772 9,418 33,177

Ages 20-24 2,889 9,855 34,888

Ages 25-29 2,888 9,810 35,213

Ages 30-34 2,819 9,491 34,483

Ages 35-39 2,701 9,295 34,284

Ages 40-44 2,535 9,102 34,576

Ages 45-49 2,351 8,808 34,692

Ages 50-54 1,977 7,990 32,489

Ages 55-59 1,597 6,968 29,166

Ages 60-64 1,239 5,781 24,622

Ages 65-69 905 4,592 19,533

Ages 70-74 609 3,444 14,734

Ages 75-79 383 2,455 10,509

Ages 80-84 203 1,520 6,798

Household Income 1 Mile 3 Mile 5 Mile

Median Household Income $36,718 $49,807 $51,926

< $10000 715 1,948 9,595

$10000-$14999 913 2,127 10,893

$15000-$19999 812 2,198 9,426

$20000-$24999 497 1,870 9,504

$25000-$29999 716 2,389 8,761

$30000-$34999 716 1,917 8,055

$35000-$39999 632 2,178 7,641

$40000-$44999 552 1,804 6,713

$45000-$49999 260 1,385 6,462

$50000-$60000 661 3,141 12,548

$60000-$74000 1,021 3,848 15,412

$75000-$99999 666 4,663 19,385

$100000-$124999 399 2,868 12,794

$125000-$149999 247 1,787 7,665

$150000-$199999 75 1,345 7,429

> $200000 82 723 5,287

Race Characteristic 1 Mile 3 Mile 5 Mile

Non Hispanic White 14,273 51,016 197,027

Population Black 453 6,707 44,845

Population Am In/AK Nat 119 269 967

Characteristic Housing 1 Mile 3 Mile

Housing Units 9,077 37,829

Occupied Housing Units 8,641 36,025

Owner Occupied Housing Units 2,696 18,866

Renter Occupied Housing Units 5,945 17,159

Vacant Housing Units 436 1,804