Barranca Townhouses. Covina, CA DIRECTOR CAL DRE # DIRECTOR CAL DRE #

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1 Barranca Townhouses Covina, CA DIRECTOR CAL DRE # DIRECTOR CAL DRE #

2 453 S. Barranca represents an exceptional investment opportunity in a central Covina location. Built in 1963, this 10-unit, garden-style walkup building has a pitched concrete shingled roof and slab foundation. There is a favorable unit mix consisting of (two) 2-bed/1-bath units, (one) 2-bed/1.5-bath TH unit, (three) 2-bed/1.75-bath [one flat; two townhouse] units, (three) 3-bed/1.75-bath TH units, and (one) 3-bed/2.5-bath TH units. Unit amenities include gas stoves/ovens, forced air heat, and wall mounted A/C. Common areas feature gated parking, a laundry room with 2 washers/2 dryers, and a newer 100 gallon hot water heater. Tenants additionally benefit from the asset s close proximity employment hubs, shopping and entertainment options, and the 10 and 210 freeways. Address City State Zip APN Built Units Building SF Lot Size SF Zoning Parking Metering 453 S. Barranca Avenue Covina, CA ,446 21,138 CVR3-RD Total: 8 Carport, 4 Tuck-Under, 1 Garage Individual Gas & Electric Wood-frame/Stucco; Pitched Concrete Shingled Roof and a Slab 2

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4 Pricing Price $/Unit $/SF GRM CAP Market GRM Market CAP List Price $ 3,1 0 0,0 0 0 $310,000 $ % % Down Payment Loan to Value Amort Years Interest Payments List Price $1,550,000 50% $1,550,000 50% % ($7,854) Units Type Estimated SF Avg Current Current /SF Total Market Total Market 2 2/1 Flat 875 $1,550 $1.77 $3,100 $1,650 $3, /1.5 TH 975 $1,575 $1.62 $1,575 $1,750 $1, /1.75 TH 1,025 $1,575 $1.54 $3,150 $1,800 $3, /1.75 Flat 1,025 $1,800 $1.76 $1,800 $1,800 $1, /1.5 TH 1,275 $1,800 $1.31 $1,800 $1,900 $1, /1.75 TH 1,275 $1,675 $1.31 $1,675 $1,900 $1, /2 TH 1,275 $1,675 $1.25 $1,675 $1,900 $1, /2.5 TH 1,325 $1,660 $0.00 $1,660 $1,950 $1,950 Scheduled Monthly $16,435 $18,100 Laundry $150 $150 Total Monthly Scheduled Income $16,585 $18,250 Scheduled Gross Income $199,020 $219,000 Less Vacancy 3% $5,971 $6, Gross Operating Income $193,049 $212,430 Expenses Current Market Real Estate Taxes % $36,467 $36,467 Direct Assessments (Actual) $3,770 $3,770 Gardener Estimate $1,200 $1,200 Insurance $0.45/SF $5,150 $5,150 Utilities $14,652 $14,652 Trash $3,500 $3,500 Maintenance & Repairs Estimate 8% SGI $15,922 $17,520 Reserves Estimate $200 /unit/year $2,000 $2,000 Total % of SGI Per SF Per Unit Total Total List Price 42% $7.22 $8,266 $82,661 $84,259 Return Current NOI Mkt NOI Less Debt Cash Flow Mkt Cash Flow Cash/Cash Mkt Cash/Cash List Price $110,388 $128,171 ($94,243) $16,145 $33, % 2.19% 4

5 Unit # Type Esim ated SF C urrent C urrent /SF M ark et M ark et /SF Occupied 1 3/2.5TH 1,325 $1,660 $1.25 $1,950 $1.47 Yes 2 2/1.5TH 975 $1,575 $1.62 $1,750 $1.79 Yes 3 3/1.5TH 1,275 $1,800 $1.41 $1,900 $1.49 Yes 4 2/1.75TH 1,025 $1,575 $1.54 $1,800 $1.76 Yes 5 3/2TH 1,275 $1,675 $1.31 $1,900 $1.49 Yes 6 2/1.75TH 1,025 $1,575 $1.54 $1,800 $1.76 Yes 7 3/1.75TH 1,275 $1,675 $1.31 $1,900 $1.49 Yes 8 2/1.75 Flat 1,025 $1,800 $1.76 $1,800 $1.76 No 9 2/1 Flat 875 $1,550 $1.77 $1,650 $1.89 Yes 10 2/1 Flat 875 $1,550 $1.77 $1,650 $1.89 Yes Comments $1,660 Effective 4/1/18 Moved in 12/1/17 1 yr lease Vacant Total Monthly $16,435 $18,100 Laundry Income $150 $150 Total Monthly Income $16,585 $18,250 Scheduled Gross Income $199,020 $219,000 Units Type Estimated Unit SF Avg Current Current /SF Avg Market Market /SF Total Units Occupied Units Occupancy % 2 2/1 Flat 875 $1,550 $1.77 $1,650 $ % 1 2/1.5 TH 975 $1,575 $1.62 $1,750 $ /1.75 TH 1,025 $1,575 $1.54 $1,800 $ /1.75 Flat 1,025 $1,800 $1.76 $1,800 $ /1.5 TH 1,275 $1,800 $1.41 $1,900 $ /1.75 TH 1,275 $1,675 $1.31 $1,900 $ /2 TH 1,275 $1,675 $1.31 $1,900 $ /2.5 TH 1,325 $1,660 $1.25 $1,950 $1.47 5

6 Address & Total Units Bldg. SF Unit Mix Built Sale Date Price Price/Unit Price/SF Cap Rate GRM E Badillo St 15, / /30/17 $4,600,000 $230,000 $ % West Covina, Ca /1 Total Units: 20 Comments +/- 11% upside in rents. Well maintained. Some interiors upgraded S San Jose Ave 26, / /14/17 $8,205,000 $293,036 $ % Covina, Ca /1.5TH Total Units: / E Foothill Blvd 12, / /17/17 $3,510,000 $319,091 $ % Glendora, Ca /2 Total Units: E Foothill Blvd 7, / /28/17 $3,000,000 $300,000 $ % Glendora, Ca /1 Total Units: /2 - Total/Averages $285,532 $ % S 453 S. Barranca Avenue 11, /1 Flat 1963 List Price $3,100,000 $310,000 $ % Covina, CA /1.5 TH Total Units: /1.75 TH 1-2/1.75 Flat 1-3/1.5 TH 1-3/1.75 TH 1-3/2 TH 1-3/2.5 TH +/- 8% upside in rent. Major rehab 2015, exterior and 80% of interiors. Additional 2 non-conforming units. +/- 17% upside in rents. One story property. Upgraded kitchens and baths. +/- 18% upside in rents. Well maintained, no major upgrades. Garage parking. Comments +/- 14% Upside in s. 6

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8 Built Un its Un its Type SqFt Ren t R/SF Un its Type SqFt Ren t R/SF 1 Las Cas itas /1.5TH 990 $1,875 $ /1.5TH 1,090 $1,900 $ S San Jose Ave /2 1,090 $1,895 $1.74 +Den Covina, Ca Two Bed Three Bed Comments Major upgrades 2015 exterior and 80% of interiors. Garages. 2 Sou th Hills /1.5 TH 1,225 $2,408 $ /2 1,550 $2,800 $ E Virginia Ave /2 1,275 $2,550 $2.00 West Covina, Ca Brookwood Apartmen ts /2TH 1,200 $1,800 $1.50 N/A N/A N/A N/A E Arrow Highway 170 Covina, Ca Major upgrades Garages, pool, spa, diswashers, fireplaces (some). Well maintained, some upgrades. Clubhouse, pool, fitness center. Dishwashers, fireplaces (some). 4 Pac if ic Trails /2 775 $1,825 $2.35 N/A N/A NA N/A E Arrow Highway 82 Covina, Ca Total/Averages 2-Bed 1,093 $2,059 $ Bed 1,320 $2,350 $1.78 S 453 S. Barranca Avenue 1963 CURRE NT CURRE NT Covin a, CA /1 Flat 875 $1,550 $ /1.5 TH 1,275 $1,800 $ /1.5 TH 975 $1,575 $ /1.75 TH 1,275 $1,675 $ /1.75 TH 1,025 $1,575 $ /2 TH 1,275 $1,675 $ /1.75 Flat 1,025 $1,800 $ /2.5 TH 1,325 $1,660 $1.25 MARKET MARKET 2 2/1 Flat 875 $1,650 $ /1.5 TH 1,275 $1,900 $ /1.5 TH 975 $1,750 $ /1.75 TH 1,275 $1,675 $ /1.75 TH 1,025 $1,800 $ /2 TH 1,275 $1,675 $ /1.75 Flat 1,025 $1,800 $ /2.5 TH 1,325 $1,660 $1.25 Well maintained. Many upgrades inside and out. Dishwashers, patio/balconies. Comments 8

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