Broker Price Opinion (BPO)

Real Estate Parcel # 5436-009-024

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Property Address
3181 Le Clede Avenue Los Angeles CA 90039
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Property Owner(s) Wells Fargo NA

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Property Value:
Repair Bid
40,000
Amount: ______________ Occupied: Vacant: ✔

As-is Condition 355,000

$______________ 519,000
Repaired Condition $______________

Value Determined by: Drive-by Inspection: Interior Inspection: ✔

Address / Price of most comparable Listing and Sale:
3175 La Clede Los Angeles CA 90039 549,000
Listing:_______________________________Price:__________DOM:______________ 27
Sale:_________________________________Price:__________Date Closed:________

Subject Property Data:

Property Type 2 Unit

_________________ (SFR, MFR, Condo, etc.)

# Bedrooms 4
_________________ Year Built 1960
______________

# Baths 2.5
_________________ Basement (Yes/No) NO
______________

Square Feet 1,909

_________________ YES
Listed for Sale (Yes/No) ______________

Additional Property Features: (please check if available)

Air Conditioning Garage ✔ Fenced
City Water ✔ Pool Additional Lots
City Sewer ✔ Outbuildings Deck

If property is or was listed for sale, attach listing information.

Report By: Ernie Espinoza

____________________________________________________

Email: ernie.espinoza@gadishproperties.com
___________________________________________________

Phone: 626.278.1415
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 Referred By:
INVESTMENT PROPERTY PROFORMA Asset Manager:
11/14/2010
Address: Sqft:
1,909 Purchase at: $355,000
Opening Bid $355,000
Bedrooms 4 Per Sq Ft $ 186
Baths 1.75
Year Built 1960
2 unit property - Room mix 3/1 and 1/1

Per Original Cash

Holding Period % Sq Ft Budget Investment
Sales Price (Re-Sale Value) ARV (AFTER REPAIR VALUE) 100.0% $ 271.87 $ 519,000.00

Less Cost of Sales

Purchase Price 68.4% $ 185.96 $ 355,000.00 $ 355,000
Construction / Repairs 7.7% 20.95 $ 40,000.00 $ 40,000.00
Delinquent Property Taxes 0.0% - $ -
Delinquent Special Taxes (HOA) 0.0% - $ -
Delinquent Federal Taxes (IRS Lien) 0.0% - $ -
Eviction Costs 0.0% - $ - $ -
Fire Insurance Policy 0.0% 0.14 $ 257.72 $ 257.72
Recording/Doc Transfer Tax 0.1% 0.21 $ 400.00 $ 400.00
Temporary Utilities(Gas,Water,SCE) 0.1% 0.16 $ 300.00 $ 300.00
Monthly Maintenance 3 0.05% 0.16 $ 300.00 $ 300.00
Other - 1% Finders Fee 0.0% - $ - -
Total Cost of Sales 76.4% $ 207.57 $ 396,257.72 $ 396,258

Gross Profit 23.6% $ 64.30 $ 122,742.29

Less Point of Sale Expenses

Sales Commission-In House 2.5% $ 6.80 $ 12,975.00
Sales Commission-Co Op 2.5% 6.80 $ 12,975.00
Property Taxes - Current Year Proration 0.5% 0.42 $ 804.00
Escrow/Title Closing Costs 0.5% 1.36 $ 2,595.00
Pest Inspection Report 0.1% 0.08 $ 150.00
Natural Hazard Disclosure 0.1% 0.07 $ 125.00
Homebuyers Warranty 0.0% - $ -
1% Asset Mgt Co. Fee 0.0% - $ -
Total Point of Sale Expenses 6.2% $ 15.52 $ 29,624.00 $ -

Contribution Margin 17.5% $ 48.78 $ 93,118.29 $ -

Other Expenses

Cost Of Funds 3 1.00% 6.23 $ 11,887.73

Total Other Expenses 1.0% $ 6.23 $ 11,887.73 $ -

Net Profit 16.5% $ 42.55 $ 81,230.55

Return on Investment (Net Profit/Total Cash Investment) 20.50%

Annualized ROI (based on 90 day sales) x 4 82.00%

Director Director Date Director Date

C:\Users\Ernesto Espinoza\Desktop\La Clede\Proforma La Clede 11/14/2010

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Ernesto Espinoza <erespinoza@gmail.com>

1 message

Thu, Nov 11, 2010 at 2:31

ernie.espinoza@gadishproperties.com <ernie.espinoza@gadishproperties.com>
PM
Reply-To: Ernie Espinoza <ernie.espinoza@gadishproperties.com>
To: Ernie Espinoza <ernie.espinoza@gadishproperties.com>

STATUS: Active ADDRESS: 3181 LA CLEDE AVE , LOS ANGELES 90039 LP: $374,900

Add'l Photos View Larger Map

AREA: (21) Silver Lake - Echo
RESIDENTIAL INCOME DOM: 44 MLS#: 10-481295 LD: 09/27/2010
Park
APN: 5436-009-024 ADP: STYLE: MAP: 594/F2 SP: 0
APX
NUM UNITS: 2 POOL: No CVD PKG: 0 SD:
LSZ: 5,401/AS
APX SF: 1,909/AS APX LDM: TRASH: NUM PKG: 2
YB: 1960 GI: $0 GRM: 0.00 SCHED/ACT: Actual WATER:
RC: 100 GOI: 0 CAP: TAXES: VAC: 100%
CONST: AOE: INS: GRDN: MGMNT:
NUM STO: 0 ATE: $0 ELEC: MAINT: POOL EXP:
ZONE: LARD2 NOI: $0 GAS: MGR: ELEV:
ASSED IMP ASSED LND
ASSED TOT VAL: LT: 299
VAL: $26,026 VAL: $28,729

Type Number of Units Bedrooms Baths Furnished(y/n) Revenue

Unit 1 1 1 1.00 No $0
Unit 2 1 3 1.50 No $0

DIRECTIONS: Glendale Blvd. to La Clede Avenue.

REMARKS: Great investment opportunity to own a duplex in the heart of Atwater Village. Two units on a lot. Front unit is a
three bedroom one bath with open floor plan. Rear unit is a one bedroom one bath, with nice sized kitchen and living area.
Tons of potential located close to shopping, schools, and public transportation. Buyer do their own investigation to satisfy
themselves as to the condition, permits, and zoning. This is a Fannie Mae HomePath approved Property. Purchase this
property for as little as 3% down! This property is approved for HomePath Mortgage Financing and HomePath Renovation
Mortgage Financing. Call listing agent today for more information! Close by December 31, 2010 and receive up to 3.5% in

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closing costs assistance! Plus, selling agent receives $1,500 bonus. Click HomePath.com Special Offers for more details
or ask me. Eligibility restrictions apply.

AIR: None HEAT: Other

ROOF: FIN:
WATERFRONT: DISC: Lender Owned/REO
SEWER: TYPE: DUPLEX
EQUIP: None TENANT PAYS:
OWNER PAYS: OCC/SHOW:
SPA: SALE TYPE: Real Estate Owned

LP: $374,900 DOM: 44 LD: 09/27/2010 SP: SSP: BLOG Y/N: Yes LP/SF: $196.39
OLP: $374,900 CD: SD: WD: AVM Y/N: Yes SP/SF:

Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features
of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the
accuracy of all information through personal inspection and with appropriate professionals. Copyright © 2010 by Combined
L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed. Prepared by: Ernesto Espinoza DRE# 01516070

Page:1

STATUS: Active ADDRESS: 3175 LA CLEDE AVE , LOS ANGELES 90039 LP: $549,000

Add'l Photos View Larger Map

RESIDENTIAL INCOME DOM: 27 AREA: (22) Los Feliz MLS#: 10-484975 LD: 10/14/2010
APN: 5436-009-026 ADP: No STYLE: Mid-Century MAP: 594/F2 SP: 0
NUM UNITS: 2 APX LSZ: 5,401/VN POOL: No CVD PKG: 2 SD:
APX SF: 1,262/VN APX LDM: TRASH: NUM PKG: 4
YB: 1949 GI: $0 GRM: 11.98 SCHED/ACT: Scheduled WATER:
RC: GOI: 0 CAP: TAXES: VAC: 100
CONST: AOE: INS: GRDN: MGMNT:
NUM STO: 0 ATE: $0 ELEC: MAINT: POOL EXP:
ZONE: LARD2 NOI: $0 GAS: MGR: ELEV:
ASSED IMP VAL: $38,611 ASSED TOT VAL: ASSED LND VAL: $172,005 LT: 299

Type Number of Units Bedrooms Baths Furnished(y/n) Revenue

Unit 1 2 2 1.00 No $2,000

DIRECTIONS: WEST OF FLETCHER, NORTH OF PERLITA.

REMARKS: "I feel the need the need for La Clede." Two sweet mid-century homes on one lot with 2 bedrooms and 1
bath each! New hardwood floors, renovated kitchens and baths, new central A/C and heat, bolted foundations, separate
yard spaces and two garages perfect for storage, studio space or a launching pad for Rock-n-Roll greatness. This
property is chock-full of possibilities: live in one and rent out the other to minimize your mortgage, buy with a buddy and

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enjoy your own mid-century compound, or be lord/lady of the land and bathe in the stream of rental income. Whatever you
choose to do with this property, Group3 guarantees you’ll do it in style.

AIR: Central HEAT: Central

ROOF: FIN: Cash To New Loan
WATERFRONT: DISC: None
SEWER: In Street TYPE: Detached
EQUIP: Dishwasher,Garbage Disposal,Range/Oven TENANT PAYS:
OWNER PAYS: OCC/SHOW: MLS Lock Box,Supra Lock Box,Vacant
SPA: SALE TYPE: Standard

LP: $549,000 DOM: 27 LD: 10/14/2010 SP: SSP: BLOG Y/N: Yes LP/SF: $435.02
OLP: $575,000 CD: SD: WD: AVM Y/N: Yes SP/SF:

Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features
of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the
accuracy of all information through personal inspection and with appropriate professionals. Copyright © 2010 by Combined
L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed. Prepared by: Ernesto Espinoza DRE# 01516070

Page:2

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