TOWNCO LP — Market Position & Competitive Landscape

Portfolio Overview

27-Unit Westside Portfolio — Investment Summary

Property	Units	SF	Built	Sales Price	$/Unit	$/SF	FY1 NOI	FY1 Cap	Loss-to-Lease
12780 Venice Blvd Mar Vista · 90066	12	9,128	1953	$3,650,000	$304K	$400	$152,632	4.01%	21%
1508 S Centinela Ave West LA / Sawtelle · 90025	9	6,478	1963	$2,525,000	$281K	$390	$107,781	4.04%	31%
1217 S Holt Ave Pico-Robertson · 90035	6	4,378	1954	$1,900,000	$317K	$434	$81,220	4.04%	21%
Portfolio Total	27	19,984	—	$8,075,000	$299K	—	$341,633	4.03%	24%

Listing Recommendations

Listing Strategy — All Properties

Property	Units	Rec. List Price	$/Unit (List)	Expected Close	$/Unit (Close)	$/SF	Cap on Cost	Comp Support
12780 Venice Blvd 21% LTL · 12u scale	12	$3,832,500	$319K	$3,650,000	$304K	$400	4.01%	3 comps, $284K avg — 7% above
1508 S Centinela Ave 31% LTL · strongest value story	9	$2,651,250	$295K	$2,525,000	$281K	$390	4.04%	7 comps, $325K avg — 14% below
1217 S Holt Ave 21% LTL · BH adjacent	6	$1,995,000	$333K	$1,900,000	$317K	$434	4.04%	6 comps, $335K avg — 5% below
Portfolio Total	27	$8,478,750	$314K	$8,075,000	$299K	—	4.03%	16 CoStar sales analyzed

Recommended list prices set at 5% above expected close to provide negotiation room while maintaining credibility with comp support. Centinela priced 14% below comp avg — strongest value story in the portfolio. All 16 comps are CoStar-verified C-class pre-1979 RSO sales.

$8.5M

Portfolio List Price

27 units · 3 Westside locations

24%

Loss-to-Lease

Weighted gap to market rents

$50M

Market Volume

16 RSO trades in 12 months

Low

Vacancy

Stabilized cash flow, all 3 properties

Buyer Returns

Proforma Performance — FY1 to FY5

12780 Venice Blvd — $3,650,000 · 12u · $304K/unit

Year	NOI	Cap on Price	Cap on Cost	DCR
FY1	$152,632	4.01%	4.01%	1.13x
FY2	$211,136	5.78%	5.55%	1.56x
FY3	$237,959	6.52%	6.26%	1.76x
FY4	$247,159	6.77%	6.50%	1.83x
FY5	$256,652	7.03%	6.75%	1.90x

Exit caps: 5.00% / 5.25% / 5.50%. Acq. loan: $2,472,438 (65% LTC) at 5.50% I/O. CapEx: $75K FY1 + $75K FY2. RUBS: $100/unit/mo projected.

1508 S Centinela Ave — $2,525,000 · 9u · $281K/unit

Year	NOI	Cap on Price	Cap on Cost	DCR
FY1	$107,781	4.04%	4.04%	1.71x
FY2	$147,125	5.83%	5.51%	2.34x
FY3	$163,654	6.48%	6.13%	2.60x
FY4	$174,239	6.90%	6.53%	2.77x
FY5	$181,082	7.17%	6.78%	2.88x

Exit caps: 5.50% / 5.75% / 6.00%. Acq. loan: $1,142,717 (42.8% LTC) at 5.50% I/O. CapEx: $56,250 FY2 + $56,250 FY3. 22% physical vacancy (2 vacant units) — immediate lease-up upside.

1217 S Holt Ave — $1,900,000 · 6u · $317K/unit

Year	NOI	Cap on Price	Cap on Cost	DCR
FY1	$81,220	4.04%	4.04%	1.23x
FY2	$112,641	5.93%	5.60%	1.71x
FY3	$137,176	7.22%	6.82%	2.08x
FY4	$142,024	7.47%	7.07%	2.15x
FY5	$147,024	7.74%	7.31%	2.23x

Exit caps: 5.50% / 5.75% / 6.00%. Acq. loan: $1,206,000 (60% LTC) at 5.50% I/O. CapEx: $100K FY2. 1 vacant unit (Unit 6) — immediate lease-up to $2,600/mo. 1111 Holt Ave (same street, $298K/u, 5.04% cap) validates pricing.

Strategic Recommendations

Execution Plan

1. Lead with Venice. Largest building, 21% LTL, deepest rent growth runway. A strong Venice close at $3.5M+ establishes pricing credibility for the portfolio.

2. Market Centinela to 1031 exchangers. Sawtelle/West LA location and 31% loss-to-lease make this ideal for exchange buyers on a deadline. Priced 14% below comp avg — strongest value story. Exchange buyers pay above market to meet timelines.

3. Price Holt to the 1111 Holt comp. Same-street comp at $298K/unit and 5.04% cap validates subject at $317K/unit. BH-adjacent location commands premium positioning.

4. Leverage existing Lee Investor and Broker Network. Lee & Associates' owner-operated model and national platform provide direct access to qualified 1031 exchangers, family offices, and local private investors across the Westside.

5. Create urgency with scarcity. 100% of recent buyers are LA-local private investors. Use "first time on market in X years" positioning for each building. Buyers respond to scarcity — it compresses negotiation timelines and supports pricing.

Market Intelligence

Why the Market Will Pay Top Dollar

$50M

Traded

16 C-class RSO sales in 12 months

100%

Local Buyers

All private — no institutional discounting

4.0–6.2%

Cap Range

Buyers accepting compressed yields for Westside RSO

24%

Avg LTL

Weighted portfolio loss-to-lease

1. Buyer demand is strong and concentrated. 100% of recent buyers are LA-local private investors — individuals who know the market, move quickly, and pay fair value. No institutional discounting. No lowball hedge fund offers.

2. Supply is structurally scarce. Westside supply constraints, RSO protections, and barriers to entry ensure vintage product rarely trades. Santa Monica and Culver City rental markets are supply-constrained, pushing demand into Mar Vista and West LA.

3. Your portfolio has scale advantages. At 27 units across 3 buildings, TOWNCO is larger than the typical 7-unit Westside trade. Scale attracts serious buyers — 1031 exchangers, family offices, and operators who can't assemble this kind of Westside position one building at a time.

4. Loss-to-lease drives premium pricing. The 24% gap between current rents and market rents is not a weakness — it's the reason buyers will pay a premium. Every sophisticated buyer will model the rent upside and price accordingly. This is how value-add multifamily commands above-market pricing.

5. Sales prices are comp-supported. Every price is validated by CoStar-verified closed sales. Centinela at 14% below comp avg offers the strongest value story. All 16 comps are C-class pre-1979 RSO transactions with 100% local private buyers.

Analysis based on 16 C-class pre-1979 RSO closed sales, Westside LA, past 12 months. CoStar Group 03/04/2026 via Lee & Associates.

Proforma vs. Market — 12780 Venice Blvd

Current Underwriting in Context

Metric	U/W Assumption	Comp Evidence	Market Context
1BR Market Rent 9 units (75% of building)	$2,300	$2,167 avg (vintage) Range: $2,100–$2,245 · 5 vintage comps	$133 above vintage avg Vintage unrenovated 1BR: $2,100–$2,250. Proforma at $2,300 slightly above — defensible with light cosmetic on turnover.
2BR Market Rent 3 units (25% of building)	$2,600	$2,623 avg Range: $2,550–$2,700 · 4 comps	At low end Within $23 of comp avg. Renovated 2BRs in area asking $2,695–$2,700.
Sales Price / Unit 12 units · $3.65M	$304K	$284K avg (3 comps) Range: $222K–$326K	7% above 3-comp avg Washington Pl ($222K, 10u), Abbot Kinney ($303K, 16u), McLaughlin ($326K, 10u). Subject at $304K justified by 12u scale + 21% LTL.
Sales $/SF 9,128 SF	$400	$376 avg Range: $254–$440 · 3 comps	Within range Washington Pl at $254/SF, Abbot Kinney at $434/SF, McLaughlin at $440/SF. Subject at $400/SF is within range.
Loss-to-Lease FY1 starting point	21%	Current: $22,531/mo · Market: $28,500/mo $5,969/mo gap · $71,628/yr	Strong runway 9×1BR and 3×2BR. Rent growth 3%/yr. FY3 stabilized cap: 6.52%.
Exit Cap Rate 5-year hold	5.00–5.50%	4.35%–5.81% (CoStar) Washington Pl 4.35% · Abbot Kinney 4.75% · McLaughlin 5.81%	Within comp range All 3 comps are C-class pre-1979. Cap range 4.35%–5.81%. Exit assumption within range.
Vacancy Stabilized assumption	5%	5.3% submarket CoStar Q3 2025 LA Metro	In line Low vacancy. 5% standard for stabilized proforma.

Rent Comps — Mar Vista / 90066

Active Listings Within 0.5 Miles

2-Bedroom Comps

$2,550/mo

$3.19/sf · 800 SF

12541 Pacific Ave

0.3 mi

2 bed1 bath

ParkingA/C

$2,595/mo

—

4055 Wade St

0.4 mi

2 bed1 bath

Parking

$2,600/mo

$2.74/sf · 950 SF

12627 Washington Pl

0.4 mi

2 bed2 bath

Parking

$2,695/mo

$2.70/sf · 1,000 SF

4100 Wade St

0.5 mi

2 bed1 bath

Garage

$2,700/mo

—

12710 Matteson Ave

0.2 mi

2 bed1 bath

No parking

$2,595/mo

—

12624 Pacific Ave

0.2 mi

2 bed1 bath

No parking

1-Bedroom Comps (Vintage Only)

$2,100/mo

—

3970 Sawtelle Blvd

0.4 mi

1 bed1 bath

VintageC-class

$2,145/mo

—

12732 Venice Blvd

0.1 mi

1 bed1 bath

Same streetVintage

$2,150/mo

—

12740 Venice Blvd

0.1 mi

1 bed1 bath

Same streetVintage

$2,195/mo

—

3175 S Barrington Ave

0.5 mi

1 bed1 bath

Vintage

$2,245/mo

—

3916 Sawtelle Blvd

0.4 mi

1 bed1 bath

Vintage

$2,623

2BR Vintage Avg

U/W: $2,600

$2,167

1BR Vintage Avg

U/W: $2,300 · Range: $2,100–$2,245

21%

Loss-to-Lease

$71,628/yr gap to market

$304K

$/Unit

CoStar avg: $284K (3 sales)

1BR comps filtered to vintage unrenovated only — no new construction or gut-renovated. Proforma at $2,300 is slightly above vintage range ($2,100–$2,245); defensible with light cosmetic on turnover.

Sources: Zillow Rental Manager, Apartments.com · Mar 3, 2026

Comparable Sales — Mar Vista / Venice / Del Rey

Recent Transactions (CoStar 03/04/2026)

Property	Age	Units	Price	$/Unit	$/SF	Cap	Date
11417 Washington Pl 8,750 SF · Mar Vista	78	10	$2,220,000	$222,000	$254	4.35%	Jan 2026
2700 Abbot Kinney Blvd 11,180 SF · Venice	67	16	$4,850,000	$303,125	$434	4.75%	Dec 2025
3651 McLaughlin Ave 7,414 SF · Mar Vista	65	10	$3,260,000	$326,000	$440	5.81%	Sep 2025
Subject — 12780 Venice Blvd Value-add · 21% LTL	73	12	$3,650,000	$304,167	$400	4.01%	Mar 2026

3-comp avg: $284K/unit. Subject at $304K = 7% above avg. Justified by 12u scale + 21% LTL → 6.52% stabilized FY3 cap. Cap range: 4.35%–5.81%. All buyers local. All C-class pre-1979.

COMPARABLE SALES MAP — 12780 VENICE BLVD

Comp Locations

Pin	Address	Units	$/Unit	Cap	Date
1	11417 Washington Pl Mar Vista	10	$222K	4.35%	Jan 2026
2	2700 Abbot Kinney Blvd Venice	16	$303K	4.75%	Dec 2025
3	3651 McLaughlin Ave Mar Vista	10	$326K	5.81%	Sep 2025
★	12780 Venice Blvd Subject · 9,128 SF	12	$304K	4.01%	Mar 2026

Proforma vs. Market — 1508 S Centinela Ave

Current Underwriting in Context

Metric	U/W Assumption	Comp Evidence	Market Context
1BR Market Rent 5 units (56% of building)	$2,300–$2,395	$2,098 avg (vintage) Range: $1,850–$2,395 · 4 comps (pre-1979 RSO)	At renovated ceiling Vintage unrenovated: $1,850–$2,195. Renovated same street (1522 S Centinela): $2,395. U/W matches best-in-class vintage.
2BR/2BA Market Rent 1 unit (Unit 8 — VACANT)	$3,200	Limited vintage 2BR/2BA Post-1990 comps removed; vintage 2BR data thin	Above vintage market No pre-1979 RSO 2BR/2BA comps in immediate radius. $3,200 benchmarked to renovated vintage 2BR listings in broader Westside. Vacant — immediate lease-up opportunity.
2BR/1BA Market Rent 1 unit (Unit 9)	$3,000	Limited 2/1 comps 2BR vintage range: $2,550–$3,000	At top of vintage range 2BR/1BA is uncommon. $3,000 reflects renovated premium for this config in Sawtelle corridor.
Studio Market Rent 2 units (22% of building)	$2,000–$2,100	$1,894 (vintage micro) Limited vintage studio data	In line Micro studio ($1,894/193 SF) is only pre-1979 RSO studio comp. Post-1990 new-build comps excluded.
Sales Price / Unit 9 units · $2.525M	$281K	$325K avg Range: $280K–$447K · 7 CoStar sales	14% below avg Saltair ($280K, 15u) is floor. Carmelina $294K, Ohio Ave $289K cluster near subject. Goshen Ave ($447K, 9u) sets ceiling. Strongest value story in portfolio.
Sales $/SF 6,478 SF	$390	$393 avg Range: $246–$567 · 7 comps	Below avg $/SF Saltair at $246/SF anchors the low end. Stoner at $320/SF, Ohio Ave at $337/SF. 1246 Saltair at $567/SF sets ceiling. Subject at $390/SF is below avg.
LTC / Leverage Acquisition loan sizing	42.8%	65% standard FY1 DCR at 42.8%: 1.71x	Below standard Sized to FY1 DCR of 1.71x. Higher equity requirement due to 22% physical vacancy (2 vacant units). By FY3, DCR exceeds 2.6x.
Exit Cap Rate 5-year hold	5.50–6.00%	4.10%–5.70% (CoStar) Carmelina 4.10% · Saltair 4.39–4.50% · McClellan 5.42% · Ohio 5.70%	Conservative exit Exit assumption above most comps. Four comps with caps bracket the 5.50–6.00% exit range.

Rent Comps — West LA / Sawtelle / 90025

Active Listings Within 0.5 Miles

1-Bedroom Comps

$1,850/mo

—

1550 Centinela Ave #213

Same block · 0.03 mi

1 bed1 bath

GatedA/CReduced

$1,950/mo

—

1560 S Centinela #215

Same block · 0.04 mi

1 bed1 bath

Top floorRenovated

$2,195/mo

$3.66/sf · 600 SF

1216 Armacost Ave #10

Sawtelle · 0.3 mi

1 bed1 bath

Vintage

$2,395/mo

—

1522 S Centinela Ave

Same street · 0.01 mi

1 bed1 bath

RenovatedKey comp

2-Bedroom & Studio Comps

$2,550/mo

—

Vintage 2BR — West LA corridor

Sawtelle · 0.5 mi

2 bed1 bath

Vintage

Post-1990 construction rent comps removed from this section: 1750 Sawtelle (built 2015, $3,263), 1801 Federal Ave (luxury, $3,495), The SW (new build, $2,352). Vintage 2BR and studio comps are limited in this immediate radius — U/W rents benchmarked to broader Westside vintage listings.

$2,098

1BR Comp Avg (vintage)

U/W: $2,300–$2,395

$2,550

2BR Vintage Range

U/W: $3,000–$3,200

$1,894

Studio (vintage micro)

U/W: $2,000–$2,100

31%

Loss-to-Lease

$43,932/yr gap · 2 vacant units

Sources: Apartments.com, Zillow, Rentable, WestsideRentals · Mar 3, 2026

Comparable Sales — West LA

Recent Transactions (CoStar 03/04/2026)

Property	Age	Units	Price	$/Unit	$/SF	Cap	Date
1447 S Saltair Ave 17,052 SF · West LA	59	15	$4,200,000	$280,000	$246	4.50%	Sep 2025
11727 Ohio Ave 7,697 SF · West LA	65	9	$2,597,000	$288,556	$337	5.70%	Feb 2026
1320 S Carmelina Ave 6,875 SF · West LA	63	9	$2,650,000	$294,444	$385	4.10%	May 2025
1246 S Saltair Ave 4,320 SF · West LA	71	8	$2,450,000	$306,250	$567	4.39%	Feb 2026
1703 Stoner Ave 9,056 SF · West LA	53	9	$2,900,000	$322,222	$320	—	Nov 2025
1236 McClellan Dr 6,935 SF · West LA	64	9	$3,050,000	$338,889	$440	5.42%	Oct 2025
12039 Goshen Ave 8,829 SF · West LA	59	9	$4,025,000	$447,222	$456	—	Jun 2025
Subject — 1508 S Centinela Value-add · 31% LTL · 2 vacant	63	9	$2,525,000	$280,556	$390	4.04%	Mar 2026

7-comp avg: $325K/unit. Subject at $281K = 14% below avg. Strongest value story in portfolio. Cap range: 4.10%–5.70%. All West LA submarket. 100% local private buyers.

COMPARABLE SALES MAP — 1508 S CENTINELA AVE

Comp Locations

Pin	Address	Units	$/Unit	Cap	Date
1	1447 S Saltair Ave West LA	15	$280K	4.50%	Sep 2025
2	11727 Ohio Ave West LA	9	$289K	5.70%	Feb 2026
3	1320 S Carmelina Ave West LA	9	$294K	4.10%	May 2025
4	1246 S Saltair Ave West LA	8	$306K	4.39%	Feb 2026
5	1703 Stoner Ave West LA	9	$322K	—	Nov 2025
6	1236 McClellan Dr West LA	9	$339K	5.42%	Oct 2025
7	12039 Goshen Ave West LA	9	$447K	—	Jun 2025
★	1508 S Centinela Ave Subject · 6,478 SF	9	$281K	4.04%	Mar 2026

Proforma vs. Market — 1217 S Holt Ave

Current Underwriting in Context

Metric	U/W Assumption	Comp Evidence	Market Context
1BR Market Rent 4 units (67% of building)	$2,600	$2,649 (1BR avg) Holt Ave: $2,495–$2,850 · 4 comps	At vintage avg Same-block vintage (1221 S Holt) at $2,495. Renovated Holt comps: $2,600–$2,850. U/W at $2,600 is within range.
Studio Market Rent 1 unit (Unit 2)	$2,100	Limited studio comps BH-adjacent studio data thin	In line $2,100 benchmarked to broader Pico-Robertson vintage studio listings.
2BR Market Rent 1 unit (Unit 3)	$2,900	$2,350 unrenovated 907 S Holt (same st) · $2,900 renovated	At renovated level Same-street 2BR at $2,350 unrenovated, $2,900 renovated. $2,900 market assumes light renovation on turnover.
Sales Price / Unit 6 units · $1.9M	$317K	$335K avg Range: $243K–$448K · 6 Pico-Rob sales	5% below avg 1111 Holt Ave ($298K, 6u, 5.04% cap) = same street, best direct comp. Alcott ($243K) and Olympic ($244K) set floor. Wooster ($420K) and Sherbourne ($448K) set ceiling.
Sales $/SF 4,378 SF	$434	$337 avg Range: $267–$406 · 6 comps	Above avg $/SF Alcott at $267/SF, 1111 Holt at $299/SF, Olympic at $314/SF. Shenandoah at $406/SF. Subject at $434/SF reflects smaller building premium.
LTC / Leverage Acquisition loan sizing	60%	65% standard Venice: 65% · Centinela: 42.8%	Near standard FY1 DCR 1.23x. Unit 6 vacant — immediate lease-up to $2,600/mo improves coverage. By FY3, DCR exceeds 2.0x.
Exit Cap Rate 5-year hold	5.50–6.00%	4.00%–6.17% (CoStar) Shenandoah 4.00% · 1111 Holt 5.04% · Olympic 5.99% · Alcott 6.17%	Within comp range BH-adjacent product generally trades tighter. 5.75% mid-case within historical Pico-Robertson range.
Vacancy Physical vs stabilized	5%	Unit 6 vacant $0 current · $2,600 market	Immediate upside Unit 6 vacant/owner-occupied. Lease-up at $2,600/mo = $31,200/yr incremental revenue. 5% stabilized assumption standard.

Rent Comps — Pico-Robertson / BH Adjacent / 90035

Active Listings Within 0.5 Miles

1-Bedroom Comps (on S Holt Ave)

$2,495/mo

—

1221 S Holt Ave #1

Same block · 0.01 mi

1 bed1 bath

Same streetVintage

$2,650/mo

—

925 S Holt Ave #2

Same street · 0.1 mi

1 bed1 bath

RenovatedStainless

$2,600/mo

—

814 S Holt Ave #5

Same street · 0.1 mi

1 bed1 bath

RenovatedGranite

$2,850/mo

—

La Cienega Park area

BH border · 0.2 mi

1 bed1 bath

BH adjacentUpgraded

2-Bedroom Comps

$2,350/mo

$2.35/sf · 1,000 SF

907 S Holt Ave #6

Same street · 0.1 mi

2 bed2 bath

Same streetUnrenovated

$2,900/mo

—

Beverlywood / Pico-Rob

0.3 mi · elevator bldg

2 bed2 bath

RenovatedElevator

$2,649

1BR Comp Avg

U/W: $2,600

$2,625

2BR Comp Avg

Unrenov: $2,350 · Renov: $2,900

21%

Loss-to-Lease

$63,672/yr gap · 1 vacant unit

$317K

$/Unit

CoStar avg: $335K (6 sales)

Sources: Apartments.com, Rent.com, Homes.com, RentCafe · Mar 3, 2026

Comparable Sales — Pico-Robertson

Recent Transactions (CoStar 03/04/2026)

Property	Age	Units	Price	$/Unit	$/SF	Cap	Date
6147 Alcott St 5,466 SF · Pico-Rob	99	6	$1,458,000	$243,000	$267	6.17%	Dec 2025
8686 W Olympic Blvd 6,218 SF · Pico-Rob	100	8	$1,950,000	$243,750	$314	5.99%	Aug 2025
1111 Holt Ave 5,974 SF · Same street as subject	73	6	$1,785,000	$297,500	$299	5.04%	Dec 2025
1026 S Shenandoah St 5,304 SF · Pico-Rob	72	6	$2,152,000	$358,667	$406	4.00%	Oct 2025
1036 S Wooster St 6,114 SF · Pico-Rob	61	5	$2,100,000	$420,000	$343	—	Dec 2025
919 S Sherbourne Dr 5,744 SF · Pico-Rob	68	5	$2,240,000	$448,000	$390	—	Nov 2025
Subject — 1217 S Holt Ave Value-add · 21% LTL · 1 vacant	72	6	$1,900,000	$316,667	$434	4.04%	Mar 2026

1111 Holt Ave = SAME STREET as subject. 6u, $298K/u, 5.04% cap — best direct comp. 6-comp avg: $335K/unit. Subject at $317K = 5% below avg. Cap range: 4.00%–6.17%. All Pico-Robertson submarket.

COMPARABLE SALES MAP — 1217 S HOLT AVE

Comp Locations

Pin	Address	Units	$/Unit	Cap	Date
1	6147 Alcott St Pico-Robertson	6	$243K	6.17%	Dec 2025
2	8686 W Olympic Blvd Pico-Robertson	8	$244K	5.99%	Aug 2025
3	1111 Holt Ave Same street	6	$298K	5.04%	Dec 2025
4	1026 S Shenandoah St Pico-Robertson	6	$359K	4.00%	Oct 2025
5	1036 S Wooster St Pico-Robertson	5	$420K	—	Dec 2025
6	919 S Sherbourne Dr Pico-Robertson	5	$448K	—	Nov 2025
★	1217 S Holt Ave Subject · 4,378 SF	6	$317K	4.04%	Mar 2026

YOUR LISTING TEAM

Why Lee & Associates — West Los Angeles

Maximum Price Achieved — Maximum rents and sales prices achieved throughout the Los Angeles market. Superior market tour justifying maximum price. Pat Ayau and Travis Majick bring over 45 years of combined experience in LA commercial and multifamily real estate.

Proven Marketing Process — Our managed process delivers multiple offers and maximum exposure. Global, national, and local investor database specializing in multifamily, 1031 exchange, and value-add buyers. Bound direct mail, digital marketing, CoStar/LoopNet syndication, targeted email campaigns to 2,000+ LA-area agents and principals.

Superior Negotiation Skills — Lee & Associates operates as an extension of the owner — our focus is always your best interest. Trusted negotiation experience ensuring clients receive maximum pricing. Detailed knowledge of competition, active listings, and latest concessions in every Westside submarket.

Impeccable Reputation — Pat and Travis provide credibility to the property and process, and are recognized as experts in the Los Angeles multifamily market. Lee & Associates' owner-operated model means principals are directly involved in every transaction — not delegated to junior associates.

MEET THE TEAM

Your Advisors

Pat Ayau

Founding Principal & Corporate Officer

DRE #00887794 · payau@leewestla.com · (310) 899-2712 office · (310) 505-4014 cell

For the past 35 years, Hawaii native Patrick Ayau has represented some of Los Angeles's most recognized landlords and tenants. He specializes in office building leasing and sales, and has developed shopping centers, office, industrial and mixed-use buildings in Hawaii, Colorado and California. In 2021, his development project L&O at 5101 Lankershim — a 297-unit mixed-use project anchored by Amazon Fresh Market — was awarded Best Mixed-Use Large Format, Los Angeles by the American Institute of Architects and the LA Business Council.

Travis Majick

Analyst & Marketing Specialist

DRE #01893530 · (310) 498-2556

Travis Majick specializes in representing buyers and sellers of multifamily, investment, and NNN properties throughout Southern California with a focus on Hollywood and Westside Los Angeles. His experience spans brokerage, development, and mortgage financing, providing a holistic approach to transactions. His expertise includes analyzing real estate portfolios and providing valuations, performing due diligence, structuring 1031 exchange transactions, sourcing and marketing properties for highest and best use, and transaction management. Travis has successfully closed more than $150 million of transactions and mortgage originations over his career.

THE FIRM

Lee & Associates — National Platform, Local Expertise

$115B+

Transaction Volume

Past 5 Years

2B+ SF

Brokered Sale & Lease

Past 5 Years

1,600

Professionals

Internationally

Since 1979, Lee & Associates has reimagined how commercial real estate companies should be structured. Each office is owned and operated by its professionals — as shareholders, our interests are directly aligned with our clients. Lee & Associates is home to the 5th largest number of SIOR members in the world and is ranked in the top 10 CCIM designee companies in North America.

TRACK RECORD

Past & Current Projects

5101 Lankershim (L&O)

North Hollywood

297 Units · Mixed-Use
AIA Award Winner

975 Manhattan

K-Town West, Koreatown

100,595 SF · Multifamily Development

3323 Olympic

K-Town East, Koreatown

118,962 SF · Mixed-Use Development

11828 Washington

Kensington Court, Culver City

94,915 SF · Mixed-Use Development

12717 Washington

Triangle Project, Culver City

165,000 SF · Mixed-Use Development

6100 Canoga Ave

Woodland Hills

861 Units · Development

MARKETING PLAN

How We Sell Your Properties

Preparation

Detailed buyer analysis, competitive positioning, property branding, and crafting the value proposition that sets your assets apart.

Offline Marketing

High-end print collateral, property signage, broker networking events, and targeted direct mail to a curated investor list.

Online Marketing

Digital brochures, email campaigns to 2,000+ agents, CoStar/LoopNet syndication, social media, online press releases, and targeted outreach.

Measuring Results

Key performance metrics tracked throughout the campaign. Regular reporting on prospect activity, offer status, and market feedback to inform pricing decisions.

Market Position &Competitive Landscape

Market Position &
Competitive Landscape