O F F E R I N G M E M O R A N D U M

14924 R O S C O E B LV DPA N O R A M A C I T Y, C A 91402

A 17-U N I T VA LU E-A D D I N V E S TM E N T L O C AT E D I N A Q U A L I F I E D O P P O R T U N I T Y Z O N E

NEEMA AHADIANSenior Vice President InvestmentsWest Los Angeles OfficeDirect 310.909.5444neema.ahadian@marcusmillichap.comLicense CA 01346750

E X C LU S I V E LY L I S T E D B Y:

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

C O N F I D E N T I A L I T Y & D I S C L A I M E RThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus

& Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared

to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained

herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect

to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements,

the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon,

or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained

in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information

contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy

or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service

mark of Marcus & Millichap Real Estate Investment Services, Inc.

© 2018 Marcus & Millichap. All rights reserved.

N O N - E N D O R S E M E N T N O T I C EMarcus & 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. Activity ID: XXXXXX

A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N L Y .P L E A S E C O N S U L T Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E T A I L S .

01 INVESTMENT OVERVIEW

02 AREA OVERVIEW

03 FINANCIALS

04 SALES & RENT COMPARABLES

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GROSS SF

13,422

LOT SIZE

17,070

UNITS

17

Marcus & Millichap is pleased to present 14924 Roscoe

Boulevard, in Panorama City, CA. Built in 1963, this 17-unit

property is located on a 17,070 SF lot in the heart of the Valley in

a neighborhood with consistent population growth and rising

rental submarket. The two-story building features bachelor

units, one-bedrooms, two-bedrooms and a three-bedroom

townhouse unit.

This offering presents an investor the opportunity to capture

the 27% rental upside through renovations when the units

turn. Additionally, the subject property has 12 total parking

spaces with no soft-story work required as it has already been

completed by the Seller. The property is being offered at a low

price per unit of $191,176 and 12.64 GRM on current income.

This Panorama City neighborhood continues to grow at a rapid

pace and has consistent rent growth year-over-year. The subject

property sits in an ideal location with many transportation

options and easy access to the 405 & 5 Freeways, giving renters

an easy commute to many areas throughout Los Angeles.

E X E C U T I V E S U M M A R Y

PROPERTY OVERVIEW

Address 14924 Roscoe Blvd, Panorama City, CA 91402

APN 2210-003-060

Zoning R3-1

Number of Units 17

Number of Stories 2

Number of Buildings 1

Year Built 1963

Gross SF 13,422

Lot Size 17,070

Type of Ownership Fee Simple

PARKING

Type Open Spaces - No Soft Story

Number of Spaces 12 Spaces

UTIL ITIES

Water Master Metered

Electric Separately Metered

Gas Separately Metered

CONSTRUCTION

Foundation Concrete

Framing Wood

Exterior Stucco

Parking Surface Asphalt

Roof Flat

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► 14924 Roscoe Boulevard is a 17-unit investment opportunity located in the heart of the Valley, Panorama City; between Sepulveda

Boulevard and Van Nuys Boulevard, a location that provides tenant’s with easy access to the 405 Freeway and Ventura County

Metro line

► The subject property features a two-story building consisting of three bachelor units, six one-bedroom units, seven two-bedroom

units and one three-bedroom townhouse

► Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section

1400Z. The new section 1400Z allows any taxpayer to defer paying tax on capital gains from the sale of property if those gains are

timely invested in a Qualified Opportunity Fund (QOF) which, in turn, must invest 90 percent of its assets in businesses located or

property used in designated

► Located on a 17,070 square foot lot; current zoning is R3-1

► 12 total parking spaces on the side and rear of the property, all LA City Retro-fit work has been completed by the Seller

► Significant rental upside when the units turn with a pro forma CAP rate of 6.61%; current loss to lease of 27% provides an investor a

value-add opportunity through further renovations

► The subject property has security cameras on-site and is within walking distance to many shopping, retail and entertainment

options on Van Nuys Boulevard as well as Sepulveda Boulevard

► 14924 Roscoe Boulevard is located in a densely populated rental submarket of Panorama City with over 330,000 people living

within a three-mile radius; the subject property is located just two miles from the Van Nuys Airport

I N V E S T M E N T H I G H L I G H T S

MAJOR UPSIDE

SOFT -STORY RETROFIT HAS BEEN COMPLETED

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14924 Roscoe Blvd

VAN NUYS

BALBOA

NORTH HILLS

PANORAMA CITY

ARLETA

VALLEY GLEN NORTH HOLLYWOOD

SUN VALLEY

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Panorama City is one of the youngest communities in the San Fernando

Valley and one of the best-known planned communities in Los Angeles County. In an area originally part of one

of the largest dairy and sheep ranches in Southern California, Panorama City was developed in the late 1940s by

developer Fritz Burns and Associates for Kaiser Homes, Inc. (owned by industrialist Henry J. Kaiser).

Panorama City's master plan, by architectural firm Wurdeman and Becket, called for over 4,000 houses,

setting aside thirty-one acres for commercial development and twenty-five acres for parking. The houses combined thoughtful modern designs (mostly in the Ranch and Minimal Traditional styles) with technological innovations perfected during World War II, all for under $10,000.

RETAIL AMENTITIES

Panorama Mal l

Plant Shopping Center

S A N F E R N A N D O VA L L E Y

The San Fernando Valley is a region of Los Angeles County in Southern California, nestled to the northwest of the

Los Angeles Basin. The San Fernando Valley includes the northern half of the city of Los Angeles; two-thirds of the

Valley’s area is within Los Angeles’ city limits. Other cities in the Valley include Van Nuys, Sun Valley, Valley Glen,

North Hollywood & Panorama City. The majority of the Valley is laid out in a grid pattern with streets running east-

west and north-south. The car is the main method of transportation in the Valley, as well as all of the Los Angeles

area, but Metro buses and Metro Rail, and Metrolink commuter trains can help you get around. The Metro Orange

Line is actually a busway that runs east-west from the North Hollywood Metro Rail station to the Warner Center

business district in Woodland Hills then north-south up to its terminus in Chatsworth. Several bike paths and bike

lanes can be found. Walking can be an option in denser neighborhoods such as Downtown Burbank, the NoHo Arts

District, and along Ventura Boulevard. For sheer length and diversity, Ventura Blvd in the San Fernando Valley would

satiate any shopping need in its 10-mile stretch.

FINANCIALS

RENT ROLL SUMMARY

*On-site manager’s unit, rent shown is pro forma for a 2+2

Unit # Unit Type Actual Rents Pro Forma Notes 1 1 3+2 $1,494 $2,400 Townhouse

2 1A Bachelor $765 $1,150

3 2 2+1 $1,447 $1,850

4 3 2+2 $1,074 $1,950 Section 8

5 3A Bachelor $1,100 $1,150

6 4 2+2 $1,950 $1,950 *On-Site Manager

7 5 1+1 $1,500 $1,585

8 6 1+1 $785 $1,585

9 7 1+1 $985 $1,585

10 8 2+2 $1,139 $1,950

11 9 2+2 $1,463 $1,950

12 9A Bachelor $973 $1,150

13 10 2+2 $1,800 $1,950

14 11 1+1 $1,165 $1,585 Section 8

15 12 1+1 $855 $1,585

16 13 1+1 $1,044 $1,585

17 14 2+2 $1,545 $1,950

Total $21,084 $28,910

Bachelor $2,838 $3,450

1+1 $6,334 $9,510

2+1 $1,447 $1,850

2+2 $8,971 $11,700

3+2 $1,494 $2,400

Total Scheduled Rent $21,084 $28,910

Additional Income SCEP $47 $47

Laundry Income $289 $289

Monthly Scheduled Gross Income $21,420 $29,246

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Income Current Pro Forma

Scheduled Gross Income $257,037 $350,949

Less: Vacancy/Collection Allowance (GPR) $(7,711) $(17,547)

Effective Gross Income $249,326 $333,402

Net Operating Income $130,640 $211,353

Operating Expenses Current Per Unit Pro Forma Per UnitTaxes (1.20%) $39,000 $2,294 $39,000 $2,294

Insurance $5,796 $341 $5,796 $341

Utilities $25,044 $1,473 $25,044 $1,473

Management Fee (4%) $9,973 $587 $13,336 $784

Repairs & Maintenance $8,500 $500 $8,500 $500

Waste Removal $11,943 $703 $11,943 $703

Landscape $3,600 $212 $3,600 $212

Pest Control $1,800 $106 $1,800 $106

On-Site Manager $10,320 $607 $10,320 $607

Direct Assessment $1,860 $109 $1,860 $109

License & Fees $850 $50 $850 $50

Current Pro FormaTotal Expenses $118,686 $122,049

Expenses per Unit $6,982 $7,179

Expenses per SF $8.84 $9.09

% of EGI 47.6% 36.6%

INCOME & EXPENSES

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Operating Data Price $3,250,000

Down Payment (40%) $1,300,000

First Trust Deed/Mortgage $1,950,000

Net Operating Income $130,640

Scheduled Gross Income $257,037

Less Vacancy Rate Reserve $(7,711)

Gross Operating Income $249,326

Less Expenses $118,686

Net Operating Income $130,640

Reserves $(3,400)

Less Loan Payments $(115,114)

Pre-Tax Cash Flow $12,126 (0.9%)

Plus Principal Reduction $33,342

Total Return Before Taxes $45,468 (3.5%)

CAP Rate 4.02%

GRM 12.64

Price/Unit $191,176

Price/SF $242.14

Pro Forma

CAP Rate 6.61%

GRM 9.26

PRICING & ANALYSIS

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SALES COMPARABLES

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14924 Roscoe Blvd

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Sale Price $3,250,000

Sale Date N/A

Number of Units 17

YearBuilt 1963

Price per Unit $191,176

Price per Square Foot $242

CAP Rate 4.02%

GRM 12.64

Unit Mix

BACHELOR/GUEST ROOM 3

1 BD/1 BA 6

2 BD/1 BA 1

2 BD/2 BA 6

3 BD/2 BA 1

14924 Roscoe Blvd | Panorama City, CA, 91402

Sale Price $4,350,000

Sale Date 3/29/2019

Number of Units 29

YearBuilt 1962

Price per Unit $150,000

Price per Square Foot $225

CAP Rate 4.44%

GRM 12.78

Unit Mix

SINGLE 8

1 BD/1 BA 17

2 BD/1 BA 4

7461 Hazelt ine Ave | Van Nuys, CA, 91405 1

14924 Roscoe Blvd | Panorama City, CA | SALES COMPARABLES

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Sale Price $4,615,204

Sale Date 11/21/2018

Number of Units 28

YearBuilt 1961

Price per Unit $164,829

Price per Square Foot $265

CAP Rate 4.05%

GRM N/A

Unit Mix

SINGLE 28

7412-7416 Haskell Ave | Van Nuys, CA 91406 2

Sale Price $2,165,000

Sale Date 10/31/2018

Number of Units 12

YearBuilt 1956

Price per Unit $180,417

Price per Square Foot $259

CAP Rate 4.90%

GRM N/A

Unit Mix

1 BD/1 BA 8

2 BD/1 BA 4

14827-14833 Blythe St| Van Nuys, CA 91402 3

14924 Roscoe Blvd | Panorama City, CA | SALES COMPARABLES

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Sale Price $2,190,000

Sale Date 7/27/2018

Number of Units 12

YearBuilt 1960

Price per Unit $182,500

Price per Square Foot $223

CAP Rate 4.72%

GRM 13.84

Unit Mix

1 BD/1 BA 9

2 BD/1 BA 3

14112 Roscoe Blvd | Panorama City, CA 91402 4

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RENT COMPARABLES MAP

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14924 Roscoe Blvd

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14924 Roscoe Blvd | Panorama City, CA | RENT COMPARABLES

PROPERTY NAME UNIT TYPE UNIT SF RENT $/SF PRICE

1 9017 Langdon Ave #5 North Hills, CA 913143 SINGLE 450 $2.78 $1,250

2 9009 Tobias Ave #8 Panorama City, CA 91402 1+1 1,000 $1.60 $1,600

3 9024 Burnet Ave North Hills, CA 91343 1+1 N/A N/A $1,650

4 14941 Roscoe Blvd, Panorama City, CA 91402 1+1 708 $2.40 $1,700

5 8734 Orion Ave, Los Angeles, CA 91402 2+1 850 $2.18 $1,850

6 8960 Orion Ave, North Hills, CA 91343 2+1 1,200 $1.54 $1,850

7 14360 Saticoy St, Van Nuys, CA 91405 2+2 N/A N/A $2,100

8 14695 Parthenia St, Van Nuys, CA 91402 2+2 900 $2.17 $1,950

9 8321 Burnet Ave, North Hills, CA 91343 3+2 1,227 $2.04 $2,500

10 13945 Osborne St, Los Angeles, CA 91331 3+2 1,213 $2.06 $2,500

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NEEMA AHADIANSenior Vice President InvestmentsWest Los Angeles Off ice Direct 310.909.5444neema.ahadian@marcusmil l ichap.comLicense CA 01346750

14924 ROSCOE BLVDPANORAMA CITY, CA, 91402

EXCLUSIVLEY LISTED BY