Los Angeles, CA 90066

LOCAL MARKET UPDATE

Culver Public Market and Costa Hawkins Overview

Elliot SchwartzCommercial Real Estate Advisor

Tel: (310) 909-2308

Elliot.Schwartz@MarcusMillichap.comSEVEN MULTIFAMILY UNITS AND ONE RETAIL SPACE IN THE HEART OF MAR VISTA

Elliot Schwartz

Tel: (310) 909-2308

elliot.schwartz@marcusmillichap.com

License: CA 02020686

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Non-EndorsementsMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any

corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or

subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information

about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has

been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References

to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus &

Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

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P R E S E N T E D B Y

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Elliot Schwartz

Westside Commercial Real Estate Specialist

West Los Angeles Office

Tel: (310) 909-2308

Cel: (818) 312-3120

Fax: (310) 909-5410

elliot.schwartz@marcusmillichap.com

License: CA 02020686

Marcus and Millichap is proud to present 3993 & 3995 Inglewood

Boulevard in the highly desirable market of Mar Vista in Los Angeles,

California. The property is located on a hard signalized corner of

Washington Place and Inglewood Boulevard. The property is

comprised of two buildings. 3993 is 6 unit, 3,380 square foot building

on a 5,297 square foot lot zoned LAC1. The unit mix is all one

bedroom one bath units. 3995 is a 2,456 square foot mixed use

building on a 5,288 square foot lot zoned LAC1. The building has a

1,370 square foot retail space on the ground floor with Fadivape

currently occupying it. The upstairs unit is a three bedroom one bath

unit providing an investor flexibility in use.

PROPERTY OVERVIEW

3993 & 3995 Inglewood Boulevard

PRICE $2,850,000

LOT SIZE +/- 10,858 Square Feet ($262.47/ Lot SF)

BUILDING SIZE +/- 5,836 Square Feet ($488.34/ Building SF)

APNs 4235-029-039 & 4235-029-040

PARKING 13 Parking Spaces

ZONING LAC1

YEAR BUILT 1905 & 1956

PARKING Thirteen parking spaces

UNITS Seven Multifamily Units and One 1,370 SF

Retail Space

CAP RATE 3.57%

PRICE PER UNIT $356,250 Per Door

BUYERS HIGHLIGHTS

• 25% Rental Upside

• Located in the heart of 90066

• Blocks away from Downtown Mar Vista, Farmers Market, and

upcoming Culver Public Market Development

• Mixed-Use Space

METRICS

UNIT UNIT TYPE RENT

1 1 Bedroom / 1 Bath $1,646

2 1 Bedroom / 1 Bath $1,072

3 1 Bedroom / 1 Bath $1,124

4 1 Bedroom / 1 Bath $1,849

5 1 Bedroom / 1 Bath $1,465

6 1 Bedroom / 1 Bath $1,072

7 3 Bedroom / 1 Bath $2,310

FadiVape 1,370 SF Retail Space $3,300

Total Rent Annually $166,056

Price Per Square Foot of Building $488.34

Price Per Square Foot of Lot $262.47

Price Per Unit $356,250

Net Operating Income $101,778

CAP Rate 3.57%

GRM 17.1

Pro Forma CAP Rate 5.26%

Pro Forma GRM 13.15

OPERATING STATEMENT

MULTIFAMILY

Gross Scheduled Rent $125,291

Laundry* $1,600

Vacancy Factor 2.5%* $-3,132

Effective Gross $123,758

RETAIL

Gross Scheduled Rent $39,600

Vacancy Factor 2.5%* $-990

Effective Gross $38,610

EXPENESES*

Real Estate Taxes $33,915

Insurance $6,428

Utilities $3,047

Repairs & Maintenance $7,642

Landscaping $1,440

Management Fee (5%) $8,118

TOTAL $60,590

*Please review notes page

NotesVacancy Factor Running a total vacancy factor of 5%, however, the building is completely

occupied.

Laundry Estimated potential revenue from laundry.

Real Estate Taxes Real Estate Taxes were calculated with a 1.19% of the purchase price at

$2,850,000.

Expenses Insurance, Utilities, Repairs, Maintenance, and Landscaping were taken from

actual expenses in 2016. This includes turning over unit 4 after a vacancy.

Management Fee The property was underwritten with a 5% management fee, however, the

property is not currently operating with a management company.

The vacancy factor and management fee totals an annual expense of $-12,240. The property has a net

operating income of $117,706 and 4.13% cap rate if the vacancy factor and management fee is removed

from expenses.

GROWING TECH SECTOR

The region’s growing high-tech sector has awarded the Santa

Monica/Venice area the nickname of “Silicon Beach,” attracting

companies such as Google. Mar Vista houses many in this work

force.

WELL-EDUCATED WORKFORCE

Area residents are well educated. A majority of adults possess

at least a bachelor’s degree and more than a quarter also have

a graduate degree.

HIGH INCOMES

Educational attainment translates into a median household

income that is well above the national average. High home

prices, however, keep the homeownership level near 40

percent.

▪ Major employers in the region include entertainment giants 21st Century Fox and Sony Pictures. While roughly 20,000 jobs are in the motion-picture industry, ancillary businesses tied to entertainment are a major source of employment, as is marketing and advertising.

▪ The large healthcare industry is represented by UCLA Medical Group, Cedars-Sinai Medical Center, Providence Health and Services, and the local VA.

▪ Educational institutions including UCLA, Loyola Marymount and Pepperdine University employ more than 42,000 workers.

▪ Tourism and retail shopping are major drivers of the local economy.

DEMOGRAPHICS

ECONOMY

METRO HIGHLIGHTS

2017POPULATION:

300K

2017HOUSEHOLDS:

39.4

2017MEDIAN AGE:

$81,400

2017 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

37.8U.S. Median:

$56,3002.5%

Growth2017-2022*:

1.9%

Growth2017-2022*:

649K

WESTSIDE OVERVIEW

The Venice/Grand View Historic Commercial District: Mar Vista's

historic "downtown" contains buildings built between 1924 and 1960

(including the original Mar Vista Library) in a wide variety of styles.

You can find tattoo parlors, hand-brewed coffee and the weekly

farmers market. Venice/Grandview Historic district is half a mile from

3993-3995 Inglewood Blvd. The subject property has been given a

82 walk score, deemed very walkable where most errands can be

accomplished on foot.

3993-3995 Inglewood Blvd is also blocks away from the new

development on the corner over Washington Blvd and Centinela

Ave. The Culver Public Market is slated to be a 26,000 square foot

space. It’s currently in the entitlement phase and is planning on

having:

• 3.5 story parking lot accommodating 148 cars

• 3 retail pads on the east lot totaling 4,500 square feet

• Market hall on west lot with 5 inline restaurant and/or retail

spaces on the west lot

MAR VISTA

MARKET

OVERVIEW

METRICS

Urbanspace, a curator and developer of public markets, will soon ply its trade in Culver City. Regency Centers, the developer of the Culver Public Market development at Washington

Boulevard and Centinela Avenue, has announced that Urbanspace will be partnering on its project, which is billed as a Westside answer to Downtown's Grand Central Market.

“We take great pride in helping to bring a unique and quality operator like Urbanspace to a new market,” said John Nahas, Vice President of Investments for Regency Centers. “The

market hall component is the anchor of the development, so we couldn’t be more excited to have Urbanspace as a part of the project. The company’s roots are authentic and their

markets in New York and throughout the U.K. are among the best we’ve seen.” Urbanspace, which was founded in 1972, is known for connecting small business owners and chefs to

customers through its centers. The company's previous work includes more than 50 projects.

"Over the past 40 years, with every environment we’ve built – permanent and pop-up – Urbanspace has taken the most important cues from our creative pool of chefs and makers,” said

Eldon Scott, President of Urbanspace. “We’re thrilled to be partnering with some of the most talented chefs in Los Angeles and providing them with the ultimate stage to do what they do

best –– serve delicious food, beverages, and theater with this great, new destination in Culver City.“

The Culver Public Market, totaling approximately 26,000 square feet of rentable space, will rise from two long-vacant lots. Construction is scheduled to begin in Fall 2018, with

completion and opening anticipated early in 2020.Source: Urbanize LA

CULVER PUBLIC MARKET

Site A, located at the northwest corner of Washington and Centinela, is imagined as a one-story building

featuring 21,605 square feet of space for artisanal food vendors, 3.5 story parking structure with 148

vehicle stalls. The market hall is slated to include five inline restaurant or retail spaces. Site B, located at the

northeast corner of the intersection, will feature three one-story retail pads offering 4,500 square feet of

commercial space, with a 20-stall surface parking lot located at the back of the property.

CULVER PUBLIC MARKET

3993 & 3995

Inglewood Blvd

Culver Public Market

Vons

The Culver Public Market is half a mile away from

3993 & 3995 Inglewood Boulevard which is a

great marketing point when a vacancy arises and

the showing process begins. 3993 & 3995

Inglewood Boulevard’s walkability is extremely

attractive to prospective tenants.

P R E S E N T E D B Y

Elliot Schwartz

Westside Commercial Real Estate Specialist

West Los Angeles Office

Tel: (310) 909-2308

elliot.schwartz@marcusmillichap.com

License: CA 02020686