ATTRACTIVE ASSUMABLE DEBT

Existing $9,000,000 loan in-place at a 4.0% fixed interest rate until September 2026 (subject to lender approval).

SIGNIFICANT UPSIDE POTENTIAL

Currently, three units are restricted to 50% AMI, offering a strategic investor the chance to transition existing low-income tenants to Section 8. This move could potentially increase annual rental income by approximately $70,000. Additionally, since the onset of the pandemic, the current out-of-state ownership has taken a conservative approach to building operations, choosing to keep rents below market to maintain consistently high occupancy. Market rents for similar properties nearby are approximately 12% higher.

AFFLUENT DEMOGRAPHICS

The average household income in Larchmont Village/Hancock Park is more than $130,000 and 40 percent of households earn more than $100,000 annually.

BEST-IN-CLASS AMENITY SET

The Metropolitan is a well-amenitized boutique luxury asset featuring a rooftop terrace with barbecue picnic area and cabana style lounges, community room with big screen TV lounge and table tennis, complimentary coffee bar, open central courtyard with resort-inspired lounge areas, extensive pet spa/dog wash area, and on-site leasing office among other features that are uncommon for an apartment community less than 50 units in size.

EXCELLENT ACCESSIBILITY TO EMPLOYMENT HUBS

Centrally located in Los Angeles, residents can access over 100 million square feet of office space and thousands of high-wage jobs in the booming surrounding employment hubs within a 5 to 20-minute drive including industry giants such as Netflix, Paramount, and Viacom.

WALKING DISTANCE TO LARCHMONT VILLAGE

Residents can walk to Larchmont Village, one of the most popular urban villages in Los Angeles that features countless shopping, dining, and everyday amenities. With a 93 Walk Score, residents at The Metropolitan at Larchmont Village can accomplish most errands on foot.

STRATEGIC ENHANCEMENT OPPORTUNITIES

Investors will have the opportunity to implement strategic enhancements to the Property’s common areas which will elevate rents. Concepts include converting the community room into a fitness center, installing package lockers near the main entrance lobby, and adding a storage area in the parking garage.