The firm’s specific investment focus is aimed at
identifying, acquiring and developing undervalued
multi-family and commercial properties. We
intend to invest $5M in the ground up construction
of said project and a year and a half from now, it
will become an asset worth $9M-$12M that will
have a positive cash flow within three months of
receiving the Certificate of Occupancy.

Investment
Strategy

LYNDALE FRISON

5607 S FIGUEROA ST

LOS ANGELES, CA 90037

60 UNIT AFFORDABLE HOUSING
APARTMENT

Investment Highlights

• Rare opportunity for a 4 story apartment complex in the Greater Los
  Angeles region;
• The USC / Figueroa Corridor had seen many changes over the years,
  but the construction of this apartment complex marks a new
  chapter. It embodies the spirit of collaboration and the belief that
  when people come together with a shared purpose, they can create
  something truly remarkable and helpful to the community;
• Unobstructed views in all directions on top floor;
• Low Set Aside Requirement;
• Option for Parallel Plan Check – entitled and approved within 4-6
  months;
• Positive Cash flowing within 3 months of Certificate of Occupancy.

Investment Summary

Purchase Price - $5,000,000

Price Build-able/Door - $91,000

Lot Size - 8451 sq. ft.

Proposed Build-able Units - 55

2025 Annual Rents - $1,254,000

2026 Projected Rents - $1,287,000

2027 Projected Rents - $1,320,000

Who We Are

As President and Founder of FP Community Development 1, LLC,
Lyndale Frison has led the firm’s investment, development and
construction operations since founding FP Real Estate Advisors, LLC
over 15 years ago. Lyndale has been involved in the development of
over 900 residential units and over $250M of development projects.

Lyndale has a wealth of experience in dealing with many government
and public agencies such as HUD, CRA, CHFA, OSHPUD, Los Angeles
Housing Department.

Lyndale Frison

Our team has gathered a group of advisors that excel in every facet of
real estate development and property management. They assist in
overseeing and structuring sales and acquisition transactions, debt and
equity placements. He has over twenty-five years of experience in
finance, acquisitions, asset managing, developing and the building of
multifamily and commercial real estate projects throughout the Greater
Los Angeles Region. Lyndale has acted as President of Figueroa
Economical Housing Development Corporation assisting persons that
are less fortunate to acquire adequate housing and improving their
overall quality of life.

Advisors

We are working on plans to build 55-60 apartment units on this site. We
built two buildings adjacent to it (5503 South Figueroa Street and 5506
South Figueroa Street) in 1998-2000. LA is currently some 270,000 units
short of the affordable housing it would need to meet current demand.
Some 3,500 housing units are at high or very high risk of losing their
affordability terms, threatening to push more families into homelessness.

Current Site: 5607 South Figueroa Street Los
Angeles, California 90037

Affordable Housing

In October 2022, LAist reported that over the past decade, Los Angeles lost eight times more affordable housing units
than it gained for its lowest-income residents. According to city records, from 2010 to 2019, 110,000 houses and
apartments affordable to low earners were lost, while only 13,000 were built.

“Affordable,” in this case, means costing no more than 30% of such a household’s gross income—a standard typically
used by federal and non-profit housing programs. Statistics like this go a long way toward illustrating the precocity
and hardship faced by the working class in high-cost cities like LA that have failed miserably to get a handle on their
housing crisis.

Statistics like this can also mislead. The obvious follow-up question to the statement, “Los Angeles lost 110,000
affordable units,” is the answer to the question, “So where did they go?” And I have routinely seen casual observers of
the housing crisis misunderstand the answer or make incorrect assumptions.

Were they demolished?

Were they replaced by high-end units?

Were they sucked into space by an alien ship with a tractor beam? (Okay, I haven’t seen any casual observers suggest
this.)

The answer is right there in the LAist article, but it’s a few paragraphs deeper. While some were presumably physically
demolished, replaced, or renovated, the vast majority were “lost to higher prices.” The house or apartment didn’t go
anywhere; the rent just went up.

Where Has LA’s Affordable Housing Gone?

L. Frison Real Estate Holdings LLC

5701 S Figueroa Street Los Angeles, CA 90037

+1 (310) 508-9163