Prime-located entitled land subdivision with construction documents for 12 small lot single family homes each consisting of 6 bedrooms and 6 bathrooms

Venice Dozen

Venice Dozen

Linkage Fee considered accounted for in land pricing.Existing fourplex vacant/Ellised. Existing triplex vacant/Ellised.

Venice Dozen

Venice Dozen

Future residents will enjoy views of the Pacific Ocean and the general enhanced lifestyle that such proximity affords.

Located between Lincoln Blvd. and Centinela Ave. just 2.3 miles to the beach, the entitled

Venice Dozen development will afford a builder with the perfect opportunity to build an

attractive quantity of large single-family SLO homes at one of the most supply constricted

submarkets in the City of Los Angeles. Perhaps one of the most risk adverse opportunities in the

market hedged against both entitlement and market risk due to its irreplaceable location and

product type which offer both sell and rent options upon completion.

A project of this format/size/locational quality is a near anomaly intoday’s legislative and land-constrained environment.

The proposed six-bedroom homes average 2,133 salable SF each with a potential valuation of

$650/PSF. The land price of $4,750,000 approximately 28% of the potential gross project

revenue potential.

Evanisko Realty & Investment, Inc.

Frank Evanisko818.985.9700frank@evaniskorealty.comBRE: 01383591www.TheDevelopmentBrokers.com

4

Venice DozenEntitled Land For 12 Small Lot Single Family Homes

Build and Sell

Build and Hold

The Site:

✓ 12610-12616 Venice Blvd. Mar Vista [Los Angeles], CA 90066

✓ APN: 4235-002-002 and 4235-002-003

✓ 100’ X 147.31’ double lot assemblage - 14,731 SF of land zoned R3-1

✓ Currently a vacated [Ellised] triplex and fourplex

✓ 15’ wide rear alley

5

Venice Dozen

12616 Venice [Vacant Triplex]

12610 Venice [Vacant Fourplex]

Alle

y

Ve

nic

e B

lvd

.

The Site:

✓ 12610-12616 Venice Blvd. Mar Vista [Los Angeles], CA 90066

✓ APN: 4235-002-002 and 4235-002-003

✓ 100’ X 147.31’ double lot assemblage - 14,731 SF of land zoned R3-1

✓ Currently a vacated [Ellised] triplex and fourplex

✓ 15’ wide rear alley

6

Venice Dozen

7

Project Specifications:

The site is entitled (approved Vesting Tentative Tract #82822) for 12 nearly identicalslab on grade four story 6” detached single family homes with roof decks.

Unit Bed/Bath SF SF GarageAnticipated

ValueValue/PSF

1 6/6 2124 322 $1,380,600 $650/FT

2 6/6 2132 309 $1,385,800 $650/FT

3 6/6 2132 309 $1,385,800 $650/FT

4 6/6 2132 309 $1,385,800 $650/FT

5 6/6 2132 309 $1,385,800 $650/FT

6 6/6 2150 313 $1,397,500 $650/FT

7 6/6 2124 322 $1,380,600 $650/FT

8 6/6 2132 309 $1,385,800 $650/FT

9 6/6 2132 309 $1,385,800 $650/FT

10 6/6 2132 309 $1,385,800 $650/FT

11 6/6 2132 309 $1,385,800 $650/FT

12 6/6 2150 313 $1,397,500 $650/FT

Totals 72/72 25,604 3742 $16,642,600 $650/FT

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8

Critical Project Facets:

Critical Project Facet Status Intended Status of Delivery

Vesting Tentative Tract Map Approved Approved

Construction Drawings In Plan CheckAt a pre-determined mutually

agreeable status / RTI

MEPMechanical design plan check is

not required.

Seller providing plans for HVAC

design. Plumbing permits for

potable water lines and site

drainage are approved and will

be provided.

Grading/LID

Soil conditions prohibit infiltration.

Moving forward with a permavoid

system.

At a pre-determined mutually

agreeable status

Final MapDraft under preparation to be

submitted momentarily

At a pre-determined mutually

agreeable status

DWP [Rear Line Encroachment]

Pole at rear of property to be

upgraded and relocated. Cost

TBD

At a pre-determined mutually

agreeable status

DWP [Dry Utility Plans] Conduit plan being draftedBuyer will assume process to

complete during construction

B-Permit/Street Lighting

B-Permit has not been filed as of

yet, Seller has street lighting plan

ready to go.

At a pre-determined mutually

agreeable status

Existing Consultant Arrangements

Arch/Civil/Geo/Etc.Assignable under existing terms

Buyer may assume existing

agreements at COE

Venice Dozen

Project Documents Inventory:

The full documents set will be sent upon request in the exact labeled order.

1. Letter of Determination VTT-82822-SL2. Site Plan VTT-82822-SL3. Architectural Reference Schematic4. Architectural Submittal Set5. Structural Set6. Landscape Plan7. Topographic Survey8. Soils Report9. Soils Approval Letter10. DWP Encroachment Application11. Preliminary Title Report and Subdivision Report Folder12. Venice NHD Report Folder

9

Venice Dozen

10

Venice DozenProject Pricing: $4,750,000

➢ Our Clients have set a pricing expectation to ensure project viability under an exit strategy

involving individual SLO sales AND as a build-and-hold under a co-live operational concept.

➢ Conservative underwriting and costing assumptions have been considered in the selection

of the pricing for the project including the applicable Linkage Fee.

➢ The price of the subject development opportunity was set to reflect a conservative valuation

based on an individual home sell-out. The co-live operational concept, however, is wholly

viable and could afford an exceptional return as a build and hold opportunity. We explore

valuation data points for both individual home sales and suite rates for a co-live operational

concept later in this brochure.

➢ Contact Evanisko to discuss the contributing assumptions in greater depth.

11

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12

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Project Cross Section of Unit Type C Facing South

GarageBD 1

BD 2Living

BD 4BD 3

BD 5BD 6

(Office)

Roof Deck

Each of the six bedrooms have an associatedbathroom thus establishing strong viability of apotential co-live operational concept.

13

Venice Dozen

Floorplans For Unit Type BType B accounts for 8 of the 12 homes

Salable: 2132 SFGarage: 309 SF

Habitable Roof Area [Roof Deck]: 177 SF

Garage

BD 1

BD 2

Living

BD 4

BD 3BD 5

BD 6(Office)

14

Venice DozenThe Build and Rent Co-Live Operational Concept

As a means of addressing the housing crisis spurned by the lack of pricing

accessibility, many developers have trended towards the execution of an

operational concept whereby rooms within a home or apartment unit are rented

individually to separate tenants. Under the most conventional co-live

concept/operational model, a room (referred to as a suite) would be individually

leased and occupied. The concept’s goal is to ultimately offer a reduced “entry

price” for the tenant who can then live at a desirable location at a rate

significantly less than it would cost to lease a unit under a conventional

apartment operational format.

For example, a new studio apartment in the subject vicinity would lease in the

$2,400-$2,800 range.

However, based on the market data for co-live suites in the direct vicinity, we

would anticipate one could operate the Venice Dozen as a co-live community of

essentially 72 individual suites…each generating +/- $2,000 per month.

We explore some of this market data on the following pages.

The price of the subject development opportunity was set to reflect a conservative

valuation based on an individual home sell-out. The co-live operational concept,

however, is wholly viable and could afford an exceptional return as a build and

hold opportunity.

15

Venice Dozen

Starcity – Venice [property is approximately 1.4 miles from the subject site]

2432 Penmar Ave. Venice, CA 90292

➢ Building permits/CofO reflect a four-unit apartment building on a 5,541 SF lot. 24 total bedrooms (suites).

➢ Suites start at $1,900 and this would grant communal (shared) bathroom use. One tenant per suite.

➢ At the subject property we anticipate a similar rent per room (suite) as they

each have their own private bathroom though locationally Starcity Venice is

slightly superior.

Co-Live Comp

#1

16

Venice Dozen

Haven Co-Living [livinghomes] – Venice [property is approximately 1.6 miles from the subject site]

742-748 Brooks Ave. Venice, CA 90291

➢ Building permits/CofO reflect four single family homes approx. 2,200 SF each

➢ Broker website reflects an asking rent of $9,000 for one of the homes it its entirety.

➢ Haven Co-Living advertises approx. $1,000 per person. Two or three people would occupy each room/suite.

Co-Live Comp

#2

17

Venice Dozen

Outsite Co-Living – Venice [property is approximately 1.3 miles from the subject site]

2034 Louella Ave., Venice, CA 90291

➢ Building permits/CofO reflect a 2,471 SF single family five bed/four bath house on an R1 lot.

➢ A suite is advertised at $1,895. We presume this is single occupancy per suite (bedroom).

Co-Live Comp

#3

18

Venice DozenThe Build and Sell Exit

Homebuilders have gravitated towards the small lot concept as a viable means

of delivering ownership product with the dense Los Angeles infill environment. The

2009-2020 real estate cycle has proven its viability as a marketable single-family

home product type in the City of Los Angeles.

Whereas, new homes build on conventional single family lots in the applicable

market vicinity would trade in the range of $3-5 million dollars, a single-family small

lot home would sell for substantially less yet still afford the same advantages of

home ownership.

Small lot projects afford the merchant homebuilder opportunities to deliver

subdivisions in dense infill locations which are insulated against radical market

fluctuations endured in out-fill locations. They also afford economies of scale

which the production of single custom homes do not.

19

Venice Dozen

1. COMP: 11900 Venice Blvd. Los Angeles, CA. 90066

2. COMP: 12464 Washington Place. Los Angeles, CA. 90066

3. COMP: 11724 Culver Blvd. Los Angeles, CA. 90066

1

2 3

12610 Venice Blvd. Los Angeles, CA. 90066

20

1

RESIDENCE SQ.FT. MIX ROOF

DECK

$/PRICE $/PSF SOLD

Unit A 2,146 3/3,0,1,0 YES $1,389,000 $647.25 OCT-2018

Unit B 2,310 4/3,0,1,0 YES $1,350,000 $584.44 OCT-2018

UNIT C 2,146 3/3,0,1,0 YES $1,289,000 $600.65 OCT-2018

UNIT D 2,525 4/3,0,1,0 YES $1,350,000 $599.47 OCT-2018

11900 Washington Place. Los Angeles, 90066

1.1 Mile(s) From Subject

Venice Dozen

Small Lot

Comp #1

21

RESIDENCE SQ.FT. MIX ROOF

DECK

$/PRICE $/PSF SOLD

Unit A 2,121 3/2,0,0,1 NO $1,440,000 $678.93 MAY-2019

Unit B 2,153 3/2,0,0,1 NO $1,440,000 $668.83 JUN-2019

UNIT C 2,110 3/2,0,0,1 NO $1,410,000 $668.25 SEPT-2019

12646 Washington Place. Los Angeles, 90066

1.1 Mile(s) From Subject

2

Venice Dozen

Small Lot

Comp #2

22

RESIDENCE SQ.FT. MIX ROOF

DECK

$/PRICE $/PSF SOLD

Unit 1 2,072 3/3,0,1,0 NO $1,285,000 $620.17 SEPT-2019

Unit 2 2,038 4/3,0,1,0 NO $1,300,000 $638.00 MAR-2020

Unit 3 2,058 4/3,0,1,0 NO $1,285,000 $624.39 SEPT-2019

Unit 4 2,032 4/3,0,1,0 NO $1,300,000 $639.76 OCT-2019

Unit 5 2,058 3/3,0,1,0 NO $1,285,000 $624.39 SEPT-2019

Unit 6 2,072 3/3,0,1,0 NO $1,325,000 $639.48 OCT-2019

Unit 7 2,032 4/3,0,1,0 NO $1,270,000 $625.00 SEPT-2019

Unit 9 2,038 4/3,0,1,0 NO $1,285,000 $630.52 JAN-2020

Unit 10 2,032 4/3,0,1,0 NO $1,285,000 $632.38 OCT-2019

11724 Culver Blvd. Los Angeles, 90066

2 Mile(s) From Subject

3

Venice Dozen

Small Lot

Comp #3

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. Any elevation or rendering is

provided for reference purposes only. A buyer must verify the information and bears all risk for any inaccuracies. All materials and

information received or derived from the Listing Brokers, their directors, officers, agents, advisors, affiliates and/or any third-party

sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the Property,

compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the

Property, projected financial performance of the Property for any party’s intended use or any and all other matters. Neither Listing

Broker nor their respective directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied,

as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any

source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due

diligence to determine these and other matters of significance to such party. The Listing Brokers will not investigate or verify any such

matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN

INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or in escrow for a transaction is urged to verify all

information and to conduct its own inspections and investigations including through appropriate third party independent professionals

selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and

reports and consulting appropriate independent professionals. The Listing Brokers shall not serve as financial advisors to any party

regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial

modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be

provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any

applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to

determine rents or potential rents from or for the Property. Legal questions should be referred to an attorney. Tax questions should be

discussed with a certified public accountant or tax attorney. Title questions should be referred to a title officer or real estate and/or

land-use counsel. Questions regarding the condition of the property and whether the property complies with applicable governmental

requirements should be discussed with appropriate engineers, architects, contractors, other consultants and/or governmental

agencies.

23

Venice Dozen

Build and Sell

Build and Hold

Please return this signed Confidentiality Agreement for access to the Due Diligence Package

contents listed on the Due Diligence inventory list contained within this brochure.

The undersigned has been advised that Evanisko Realty & Investment, Inc. (the “Broker”) has

been retained on an exclusive basis by the property owners (“Owner”) with respect to the

offering for sale of an entitled development site in Los Angeles, CA (the “Property”). The Owner

has indicated that all inquiries and communications with respect to the contemplated

investment in and acquisition of the Property be directed to the Broker. The undersigned is a

principal in connection with the possible acquisition of the Property.

The Broker has available, for your review, certain information (“Confidential Information”)

concerning the potential acquisition of the Property. On behalf of the Owner, Broker shall make

such Confidential Information available to the undersigned upon execution of this Confidentiality

Agreement. The Confidential Information is intended solely for your own limited use in

considering whether to pursue the acquisition of the Property. This is not an agreement to sell the

Property or an offer of sale. No agreement shall be binding upon the Owner, or any of its

associated or affiliated companies, nor shall any agreement be deemed to exist, at law or

equity, until the Owner of the Property enters into a formal and final binding written agreement

regarding the acquisition of the Property.

By executing this Confidentiality Agreement you agree that the Confidential Information

provided is confidential, that you will hold and treat it in the strictest confidence, and that you will

not disclose or permit anyone else to disclose the Confidential Information to any person, firm or

entity without prior written authorization of the Owner and the Broker, except in connection with

the evaluation of the Property that the information may be disclosed to your partners,

employees, legal counsel and lenders or pursuant to a court order. Additionally you agree to

not to disclose your receipt of the Confidential Information, your interest in purchasing the

property and/or the terms or conditions of any offer(s) you make to purchase the Property or

take any other action that could adversely effect the potential development of the Property.

Owner expressly reserves the right, in its sole discretion, to reject ay or all proposals or expressions

of interest in the Property and to terminate discussions with any party at any time with or without

notice.

Accepted and Agreed [Date] ______________________ Signature _________________________

Name [Print] ___________________________________ Company ________________________

Address ____________________________ City __________ State _________ Zip __________

Phone ________________ Office _________________ Email ____________________________

24

Venice Dozen

Frank EvaniskoBRE 01383591(818) 985-9700

frank@evaniskorealty.com

25

Inglewood DevelopmentInglewood Zoning MapRTI EntitlementsEntitled LandShovel ReadyRTIPermit ReadyOpportunity ZoneTransit OrientedTOCBy Right DevelopmentInfill DevelopmentDevelopers DreamConstruction CostsConstructionDeveloperEquityOpportunity FundZoning ConsultantSubdivisionMaster PlanMultifamily Multifamily DevelopmentBuilderPodium DevelopmentMixed UseType V ConstructionR3 LandRD1.5 LandNew Land ListingOff MarketOff Market LandLand AdvisorsHoffman LandCBREDario SvidlerUrbanize LACurbed LABisnowPCBCLand SpecialistConstruction LenderAffordable HousingTax Credit DevelopmentLand Entitlements

Statement of Purpose.

Since its inception in 2003, Evanisko Realty & Investment, Inc. has

pursued the mastery of a uniquely balanced implementation of

commercial real estate brokerage and strategic advisory services.

The ability to play a concurrent transactional and consultative role has

established Evanisko as one of the most visionary strategic partners for

stakeholders in transactions involving real estate slated for all forms of

redevelopment in the Southern California marketplace.

Evanisko’s closed transactional resume spans dozens of Southern

California zoning jurisdictions, project uses, and sizes with a special

focus on exclusive landowner representation in the marketing and sale

of real estate slated for various forms of housing product types.

LINK TO COMPANY BROCHURE

Ruben OganesyanBRE 01925499(818) 658-0056

ruben@evaniskorealty.com

Venice Dozen

Venice Dozen