Turnkey Property with Upside

• 14% upside in rental income via renovating the remaining classic unit and capturing existing loss-to-lease on renovated units
• 6% cash-on-cash return after raising all units to market rent
• Strong in-place income stream allows for a higher leverage acquisition loan versus comparable investments

Excellent Physical Attributes

• The Property features all townhome style units with large and open floorplans
• All units include a complete set of appliances (range, dishwasher, refrigerator, & microwave)
• The Property features controlled access and ample gated parking (1.5 spaces/unit)

Proximity to Employment and Major Developments

• Space Odyssey is just minutes away from major employers such as SpaceX and Boeing, and a short drive from major employment hubs such as El Segundo, Playa Vista, Howard Hughes Center, Venice, and Culver City.
• The Property is a short drive from transformative developments such as Sofi Stadium, Intuit Dome, Hollywood Park, and the Forum.

Strong Multifamily Fundamentals

• Over the next 5 years, rents are projected to grow 3.25% annually while average occupancy remains above 97.0%
• Single family homes continue to rapidly appreciate (up 27% over the last 5 years) making homeownership unattainable for 96% of the population in Hawthorne