1550-1604 Pleasant Avenue in Boyle Heights FULLY ENTITLED 34 UNIT PROJECT WITH PLANS NEAR APPROVAL

ASKING $2,998,000

OFFERING MEMORANDUM ED KOENIG IRE | DRE 00831815 KOENIG PROPERTIES | DRE: 00984953 Represented by

34 UNIT DELIVERED APPROVED PLANS ASKING PRICE: $2,998,000 1550-1604 Pleasant Avenue in Boyle Heights private schools. more thantwentypublicschools,and ten Heights hasover100,000residences, art andculture.Thevibrantcityof Boyle has anabundanceofactivitiesrelated to It boastsmanyauthenticrestaurantsand interest includingmariachiPlazaand a nearbymetrostationandmanypointsof .Itiscentrallylocatedwith city locatedontheeastsideofdowntown BOYLE HEIGHTSisaculturallyrich details: asking $2,998,000

• TOTAL LOT SQFT: 15,918

• ZONING: R3-1 RIO-CUGO

• TOC: TIER 3 (70%)

• APN: 5174-024-005 / 5174-024-005

• 4 UNITS DESIGNATED TO AFFORDABLE

• PRICE PER UNIT: $88,176

• RENTABLE SQFT: 45,844 34 UNIT Development Deal • PRICE PER SQFT: $67.62 DELIVERED WITH APPROVED PLANS • ESTIMATED GOI: $1,219,695 ($2.22 AVERAGE RPF) • ESTIMATED EXPENSES: $426,893.00 (35%) Build 34 UNITS, plus have space for office and recreational applications. Boyle Heights is prime for residential and business development. Pleasant • VACANCY: $60,985 (5%) View is a design of 5 LEVELS of residential living and ONE LEVEL of • PROJECTED NOI: $731,817.00 proposed subterranean parking (25 Autos). The total proposed BUILDING AREA is 52,311 SQFT with a RESIDENTIAL AREA of 45,844 SQFT. Current use: Vacant lot / SFR delivered vacant.

WWW.EDKOENIG.COM | ED KOENIG - INVESTMENT REAL ESTATE the unit mix one STUDIO / 634 SQFT nine 1 BED+1 BATH / 1012-1096 SQFT eight 2 BEDS + 2 BATHS / 1177-1350 SQFT fourteen 3 BEDS + 2.5 BATHS / 1395-1511 SQFT two 4 BEDS + 3&4 BATHS / 1690-1909 SQFT

• OFFICE 270 SQFT • RECREATION ROOM 420 SQFT • common space

45,844 sqft total space

WWW.EDKOENIG.COM | ED KOENIG - INVESTMENT REAL ESTATE WWW.EDKOENIG.COM | ED KOENIG - INVESTMENT REAL ESTATE Elevation plans 1550-1604 Pleasant Avenue

&SITE LOCATION in Boyle Heights N parcel

1550-1604

• 500 FEET TO THE GOLD LINE AT • 600 FEET TO WHITES MEMORIAL MEDICAL CENTER • .08 MILE TO USC / COUNTY MEDICAL CENTER • .08 MILES TO USC HEALTH SCIENCES CAMPUS • 1.5 MILES FROM •

WWW.EDKOENIG.COM | ED KOENIG - INVESTMENT REAL ESTATE the highlights • OPEN SPACE DESIGN

• ALL UNITS HAVE BALCONIES WITH VIEWS

• 3,100 + SQFT OF ROOF TOP DECK

• GREAT UNIT MIX / STUDIO TO 4 + 4

• UPGRADED FINISHES THROUGHOUT

• STAINLESS STEEL APPLIANCES

• WASHER AND DRYERS IN ALL UNITS

• PASSENGER ELEVATOR FROM PARKING T0 ROOF TOP DECK

1550 -1604 PLEASANT AVENUE is a prime Boyle Heights location boasting magnificent views of the City of Angels. It is 1.5 miles from downtown Los Angeles and minutes to the Arts District, Little Tokyo and the best eclectic mix of lifestyle the city has to offer. Public transportation is avilable in every direction and Boye Heights Is adjacent to many major freeways and thoroughfars. From the 1550 - 1604 address it is only a 500 foot walk to the Gold Line at Mariachi Plaza! Local and highly rated eateries are a bike ride away.

WWW.EDKOENIG.COM | ED KOENIG - INVESTMENT REAL ESTATE THE VIBE IN

BOYLEBoyle HEIGHTS i is one of LAs mostHeights historic and vibrant neighborhoods, where one can feel the past and present intermingle. It is located east of Down- town L.A., just across the Los Angeles river from the lofts and skyscrapers. It is a charming, walkable and bikeable neighbourhood of six square miles just across the 6th Street bridge.

Once called home by “Queen of the Boogie” legend Hadda Brooks, jazz musi- cian Herb Alpert of Herb Alpert and the Tijuana Brass, and modern recording artist and producer will.i.am, the area is now defined by charming mom-and-pop stores, taco stands and mariachis. You’ll find a fairly large concentration of retail on Cesar E. Chavez Boulevard and on 1st Street. The neighborhood is home to one of the city’s early parks, an art studio that’s tied to the Chicano Movement of the civil rights era, and the long tradition of street art.

One of the joys of Boyle Heights is that you’ll find a good amount of restaurants that are embedded in the neighborhood’s history. Spots like El Tepeyac, Al & Bea’s and Otomisan. Yet, Boyle Heights is also home to younger restaurants, like Guisados and Un Solo Sol, who are carving out their own niches in the neighborhood.

WWW.EDKOENIG.COM | ED KOENIG - INVESTMENT REAL ESTATE 1550-1604 Pleasant Avenue in Boyle Heights 34 UNIT DELIVERED WITH NEAR APPROVED PLANS / ASKING PRICE: $2,998,000

meetED KOENIG ed, a Southern native and Real Estate Broker has been representing Income Property Owners since 1982. With a sales volume nearing $500 million in total production he’s no stranger to all aspects Real Estate. His client database includes first time investors to high profile clients, along with many large portfolio holders and reputable builders and developers in the Greater Los Angeles area. Ed and his team are committed to providing the elite service and attention that every client expects.

Are you expanding your portfolio, liquidating assets, exchanging/trading equity or would like to know more about land development opportunities, call Ed and his team for a private consultation.

DIRECT: 818.903.8088 WWW.EDKOENIG.COM contact EMAIL: [email protected] view more listings at:

Success delivered. wealth built. Investment returned.

This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Koenig Properties has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of any type of contaminating substances and the physical condition of the improvements thereon.

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Koenig Properties has not verified, and will not verify, any of the information contained herein, nor has Koenig Properties conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ED KOENIG IRE | NORTHRIDGE CA 91325 DRE 00831815