The Orion 4702 Orion Avenue, Sherman Oaks, Ca, 91403

Home , Mulholland Drive, Universal Studios Lot

THE ORION 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403

KEVIN W. HURLEY, Director KEVIN LUTZ, Director 626.484.1897 626.429.0685 [email protected] [email protected] 81 WALK SCORE DRE# 01237798 DRE# 00925595 VERY WALKABLE All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without THE ORION representation or warranty as to completeness , veracity, or accuracy, condition of the 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403 property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations KEVIN W. HURLEY, Director including through appropriate third party independent professionals selected by such 626.484.1897 party. [email protected] All financial data should be verified by the party including by obtaining and reading DRE# 01237798 applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any party regarding any proposed KEVIN LUTZ, Director transaction. 626.429.0685 [email protected] All data and assumptions regarding financial performance, including that used DRE# 00925595 for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW Commercial in compliance with all applicable fair housing and equal opportunity laws.

BROKER OF RECORD 251 S. Lake Avenue, Suite 320 OFFERING MEMORANDUM PASADENA, CA 91103 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403 DRE: 01444805 EXECUTIVE SUMMARY THE ORION 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403 SUMMARY

PROPERTY NAME The Orion

ADDRESS 4702 Orion Avenue CITY, STATE Sherman Oaks, CA, 91403 UNITS 11

YEAR BUILT 1963

GROSS SF 7,650 SF

LAND SF 10,500 SF

PARCEL # 2261-040-003 CONSTRUCTION WoodFrame/Stucco

METERING Seperately Metered gas & electric. Master-Metered for Water

PARKING 19 Spaces: 10 carport & 9 open ZONING LAR3

81 WALK SCORE VERY WALKABLE The Orion is an 11-unit apartment building located spaces. Water is master-metered while gas in prime Sherman Oaks. The building consists of and electricity are individually metered. two, 2-bedroom/1-bath units, two 1-bedroom/1- Located within walking distance to Ventura bath units with a den, six 1-bedroom/ 1-bath Blvd, tenants benefit from local movie units and one studio unit. This 7,650 square feet theaters, trendy restaurants and building is situated on a 10,498 square foot lot numerous shopping options. It also provides offering a courtyard, pool and 19 on-site parking easy access to the 405 and 101 freeways. STUDIO CITY

VAN NUYS VALLEY EXECUTIVE TOWER SHERMAN OAKS PARK DEERVALE-STONE CANYON PARK

SHERMAN OAKS MARTIN POLLARD BRANCH LIBRARY

VENTURA BLVD. MOORPARK ST.

THE ORION

ORION AVE.

MOORPARK ST.

OFFERING MEMORANDUM 4702 Orion Avenue, Sherman Oaks, CA. 91403 STUDIO CITY EXTERIOR PICTURES VAN NUYS VALLEY EXECUTIVE TOWER SHERMAN OAKS PARK DEERVALE-STONE CANYON PARK

SHERMAN OAKS MARTIN POLLARD BRANCH LIBRARY

VENTURA BLVD. MOORPARK ST.

THE ORION THE ORION ORION AVE. 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403

MOORPARK ST. AREA MAP

topanga BEVERLY GLEN state park BEL AIRE TARZANA BENEDICT CANYON ENCINO

VENTURA BLVD. MOORPARK ST. VALLEY EXECUTIVE TOWER SHERMAN OAKS AVE.

THE ORION

SEPULVEDA BLVD VENTURA BLVD.

MOORPARK ST.

81 WALK SCORE OFFERING MEMORANDUM VERY WALKABLE AREA MAP

SEPULVEDA BASIN SAN FERNANDO VALLEY RECREATION AREA VAN NUYS

Woodley Park Archery Range sepulveda dam

LOS ANGELES RIVER

MOORPARK ST.

THE ORION

ORION AVE.

OFFERING MEMORANDUM 81 WALK SCORE 81 WALK SCORE VERY WALKABLE 4702 Orion Avenue, Sherman Oaks, CA. 91403 VERY WALKABLE FINANCIAL ANALYSIS THE ORION 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403

81 WALK SCORE VERY WALKABLE FINANCIAL PRICING PRICE $/UNIT $/SF GRM CAP MARKET GRM MARKET CAP OVERVIEW List Price $3,000,000 $272,727 $392.16 15.97 3.37% 13.81 4.25%

PRICING DOWN PAYMENT LOAN TO VALUE AMORT INTEREST PAYMENTS YEARS PRICING List Price $1,500,000 50% $1,500,000 50% 30 3.50% ($6,736)

Price $3,000,000 Price/Unit $272,727 UNITS TYPE ESTIMATED AVG CURRENT CURRENT TOTAL ESTIMATED TOTAL MARKET Price/SF $392.16 UNIT SF RENT RENT/SF RENT MARKET RENT RENT 1 0/1 500 $935 $1.87 $935 $1,400 $1,400 6 1/1 600 $1,431 $2.38 $8,583 $1,600 $9,600 CURRENT MARKET 2 1/1+den 800 $1,368 $1.71 $2,735 $1,650 $3,300 2 2/1 1,000 $1,650 $1.65 $3,300 $1,850 $3,700 Cap 3.37% 4.25% GRM 15.97 13.81 Scheduled Monthly Rent $15,553 $18,000 Laundry $100 $100 FINANCING Total Monthly Scheduled Income $15,653 $18,100 Scheduled Gross Income $187,836 $217,200 Down Payment 50% $1,500,000 Less Vacancy 3% $5,635 $6,516 Gross Operating Income $182,201 $210,684 Loan to Value 50% $1,500,000 Amort Years 30 Interest Rate 3.50% EXPENSES CURRENT MARKET Payments ($6,736) Real Estate Taxes 1.200129% $36,004 $36,004 Direct Assessments (Actual) $1,665 $1,665 Insurance (Est.) $4,400 $4,400 EXPENSES CURRENT MARKET Trash $3,132 $3,132 Gas $7,620 $7,620 Total $81,250 $83,305 Electric/Sewer/Water $13,830 $13,830 Total/Unit $7,386 $7,573 Landscaping $480 $480 Pest Control/Termite $150 $150 Total/SF $10.62 $10.89 Maintenance & Repairs 7% SGI $13,149 $15,204 Pool $820 $820 RETURN CURRENT MARKET

NOI $100,951 $127,379 Less Debt (80,828) (80,828) TOTAL % OF SGI PER SF PER UNIT TOTAL TOTAL List Price 43% $10.62 $7,386 $81,250 $83,305 Cash Flow $20,123 $46,551 Cash/Cash 1.34% 3.10%

RETURN CURRENT NOI MKT NOI LESS DEBT CASH FLOW MKT CASH FLOW CASH/CASH MKT CASH/CASH List Price $100,951 $127,379 ($80,828) $20,123 $46,551 1.34% 3.10% RENT ROLL

ESTIMATED UNIT # TYPE ESTIMATED CURRENT RENT CURRENT MARKET RENT MARKET RENT/SF OCCUPIED COMMENTS UNIT SF RENT/SF 1 1/1 600 $1,258 $2.10 $1,600 $2.67 Yes 2 1/1 600 $1,475 $2.46 $1,600 $2.67 Yes 3 1/1 600 $1,450 $2.42 $1,600 $2.67 Yes 4 1/1 600 $1,450 $2.42 $1,600 $2.67 Yes 5 1/1 600 $1,450 $2.42 $1,600 $2.67 Yes 6 1/1 600 $1,500 $2.50 $1,600 $2.67 Yes 7 1/1+den 800 $1,160 $1.45 $1,650 $2.06 Yes 8 1/1+den 800 $1,575 $1.97 $1,650 $2.06 No Vacant 9 2/1 1,000 $1,650 $1.65 $1,850 $1.85 Yes 10 0/1 500 $935 $1.87 $1,400 $2.80 Yes 11 2/1 1,000 $1,650 $1.65 $1,850 $1.85 Yes

TOTAL MONTHLY RENT $15,553 $18,000 LAUNDRY INCOME $100 $100 TOTAL MONTHLY INCOME $15,653 $18,100 SCHEDULED GROSS INCOME $187,836 $217,200

UNIT # TYPE ESTIMATED AVG CURRENT CURRENT ESTIMATED MARKET RENT/SF TOTAL OCCUPIED OCCUPANCY UNIT SF RENT RENT/SF MARKET RENT UNITS UNITS %

1 0/1 500 $935 $1.87 $1,400 $2.80 11 10 91% 6 1/1 600 $1,431 $2.38 $1,600 $2.67 2 1/1+den 800 $1,368 $1.71 $1,650 $2.06 2 2/1 1,000 $1,650 $1.65 $1,850 $1.85

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OFFERING MEMORANDUM

4702 Orion Avenue, Sherman Oaks, CA. 91403 SALES COMPARABLES

OCCUPANCY THE ORION % 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403 SALES COMPARABLES

ADDRESS & TOTAL UNITS UNIT MIX BUILT SALE DATE PRICE PRICE/UNIT PRICE/SF CAP GRM

15025-15029 Burbank Blvd 4 - 1/1 1961 Under $2,900,000 $290,000 $362.23 3.96% 15.71 Sherman Oaks, CA. 91411 5 - 2/1 Contract 1. Total Units 10 1 - 3/2

4528 Vista Del Monte Avenue 7 - 1/1 1961 03/12/21 $1,995,000 $249,375 $331.67 3.17% 17.19 Sherman Oaks, CA. 91403 1 - 2/1 2. Total Units 8

15045 Burbank Blvd 4 - 1/1 1958 12/04/20 $1,400,000 $233,333 $357.87 4.60% 14.41 Sherman Oaks, CA. 91411 2 - 2/1 3. Total Units 6

2 - 1/1 1956 10/22/20 $1,740,000 $290,000 $320.09 N/A N/A 5706 Kester Avenue 1 - 2/1 Sherman Oaks, CA. 91411 3 - 2/2 4. Total Units 6

14533 Dickens Street 8 - 1/1 1952 04/28/20 $1,950,000 $243,750 $376.45 4.71% 13.28 Sherman Oaks, CA. 91403 5. Total Units 8

Moorpark Oasis 10 - 1/1 1959 09/27/19 $3,646,000 $260,429 $336.25 2.68% 19.78 15470 Moorpark Street 4 - 2/1 6. Sherman Oaks, CA. 91403 Total Units 14

TOTAL/AVERAGES $2,271,833 $261,148 $347.43 3.82% 16.07

The Orion 1 - 0/1 1963 List Price $3,000,000 $272,727 $392.16 3.37% 15.97 4702 Orion Avenue 6 - 1/1 S. Sherman Oaks, CA. 91403 2 - 1/1+Den Total Units 11 2 - 2/1 4

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S. 4702 Orion Avenue, Sherman Oaks, CA 91403 4.5706 Kester Ave., Sherman Oaks, CA 91411 1. 15025-15029 Burbank Blvd. Sherman Oaks, CA 91411 5.14533 Dickens Street, Sherman Oaks, CA 91403 2. 4528 Vista Del Monte Ave., Sherman Oaks, CA 91403 6.15470 Moorpark Street, Sherman Oaks, CA 91403 3. 15045 Burbank Blvd., Sherman Oaks, CA 91411

OFFERING MEMORANDUM 4702 Orion Avenue, Sherman Oaks, CA. 91403 RENT COMPARABLES THE ORION 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403 RENT COMPARABLES STUDIO ONE BEDROOM TWO BEDROOM COMMENTS

YEAR BUILT TYPE SQ FT RENT R/SF TYPE SQ FT RENT R/SF TYPE SQ FT RENT R/SF TOTAL UNITS

15040 Moorpark Street 1984 0/1 550 $1,467 $2.67 1. Sherman Oaks, CA, 91403 24

1948 0/1 405 $1,490 $3.68 15127-37 Dickens Street 35 2. Sherman Oaks, CA, 91403

14556 Magnolia Blvd 1961 0/1 475 $1,495 $3.15 3. Sherman Oaks, CA, 91403 50

4679 Orion Avenue 1963 1/1 500 $1,595 $3.19 650 sqft unit 4. Sherman Oaks CA, 91403 6 1/1 650 $1,695 $2.61 has a patio

4733 Orion Avenue 1960 1/1 $1,550 5. Sherman Oaks CA, 91403 16

4540 Vista Del Monte Avenue 1962 1/1 700 $1,595 $2.28 6. Sherman Oaks CA, 91403 8

4321 Saugus Avenue 1953 1/1 700 $1,650 $2.36 7. Sherman Oaks CA 91403, 12

15470 Moorpark Street 1959 1/1 850 $1,650 $1.94 8. Sherman Oaks CA, 91403 14

14906 Dickens Street 1954 2/1 880 $1,950 $2.22 9. Sherman Oaks CA, 91403 13

15477 Moorpark Street 1958 2/1 850 $1,850 $2.18 10. Sherman Oaks CA, 91403 12

14961 Dickens Street 1958 2/1 920 $1,990 $2.16 11. Sherman Oaks CA, 91403 8

TOTAL/AVERAGES STUDIO 477 $1,484 $3.11 1-BED 680 $1,623 $2.39 2-BED 883 $1,930 $2.18

The Orion 1963 0/1 500 $935 $1.87 1/1 600 $1,431 $2.38 2/1 1,000 $1,650 $1.65 S. 4702 Orion Avenue 11 MKT 500 $1,400 $2.80 MKT 600 $1,600 $2.67 MKT 1,000 $1,850 $1.85 Sherman Oaks, CA. 91403 1/1+den 800 $1,330 $1.66 MKT 800 $1,650 $2.06 3

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S. 4702 Orion Avenue, Sherman Oaks, CA 91403 6. 4540 Vista Del Monte Avenue, Sherman Oaks CA 91403 1. 15040 Moorpark Street, Sherman Oaks, CA 91403 7. 4321 Saugus Avenue, Sherman Oaks CA 91403 2. 15127-37 Dickens Street, Sherman Oaks, CA 91403 8. 15470 Moorpark Street, Sherman Oaks CA 91403 3. 14556 Magnolia Blvd., Sherman Oaks, CA 91403 9. 14906 Dickens Street, Sherman Oaks CA 91403 4. 4679 Orion Avenue, Sherman Oaks CA 91403 10. 15477 Moorpark Street, Sherman Oaks CA 91403 5. 4733 Orion Avenue, Sherman Oaks CA 91403 11. 14961 Dickens Street, Sherman Oaks CA, 91403 LOCATION OVERVIEW THE ORION 4702 ORION AVENUE, SHERMAN OAKS, CA, 91403 SHERMAN OAKS, CALIFORNIA

Now a vibrant community with mom-and-pop shops and quiet, tree-lined William Mellenthin homes: Prominent Valley developer William Mellen- streets, Sherman Oaks was once blanketed by citrus groves, like much thin constructed hundreds of homes throughout the Valley in the 1930s of the San Fernando Valley. But by the 1950s, it became one of the first through the 1960s. His trademark “birdhouse” ranch-style homes fea- commercially and residentially developed neighborhoods. ture a birdhouse on top of the garage, diamond-paned windows and storybook touches associated with the 1950s. Although most were re- The Los Angeles Suburban Homes Co. bought 47,500 acres of land in modeled, some remain in their original conditions. 1909. A partner in the company and neighborhood namesake, Moses Shopping ’til you drop: Sherman Oaks is famous for its shopping malls, Hazeltine Sherman, purchased for himself a 1,000-acre parcel that would including Westfield Fashion Square and Sherman Oaks Galleria. The become the birthplace of Sherman Oaks. He developed and subdivided Village at Sherman Oaks Business Improvement District includes several it in 1927, then sold it for $780 an acre. eclectic specialty shops and boutiques.

The construction of Mulholland Drive, a route cradling the Santa Monica Recreation: There’s the Van Nuys Sherman Oaks Recreation Center, Mountains and offering spectacular views of Los Angeles, spurred devel- which has an outdoor pool, tennis courts, basketball courts, soccer opment of the area. Accessibility: In close proximity to the 101 and 405 fields, and Dixie Canyon Park, a 20-acre open space preserve with hik- freeways, the neighborhood provides easy access to West Los Angeles ing trails. and neighboring Studio City. DEMOGRAPHICS POPULATION Top Companies in Sherman Oaks, CA 2020 POPULATION 77,099 2010 POPULATION CENSUS 52,677 1. Southern California Edison 2000 POPULATION CENSUS 61,166 2. SpaceX 3. Bank of America 4. Walt Disney Company 5. NBCUniversa RACE & ETHNICITY 6. Kaiser Permanente WHITE 67% 7. Amgen BLACK OR AFRICAN AMERICAN 6% HISPANIC 15% • Sherman Oaks is located 17 miles from Downtown Los ASIAN 7% Angeles & 9 miles from Beverly Hills, residents have TWO OR MORE RACES 5% access to the area’s ever-growing economy nourished by recent and future developments.

• Since 2000, the Downtown Los Angeles population has HOUSEHOLD more than doubled to approximately 70,000 people and is expected to grow over the next 2 decades. $100,563 - 2020 Average Household Income

• Since 2000, the Downtown Los Angeles population has $1,213,689 - 2020 Average Housing Value more than doubled to approximately 70,000 people and is expected to grow to 200,000 over the next two 32.1% Bachelor Degree or Higher decades.

2021 - SHERMAN OAKS RESIDENTIAL HOME SALES

Based on information from California Regional Multiple Listing Service, Inc. as of 01/01/2021-04/30/2021 and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified 188 1.7M 6.2M 29M by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by SOLD AVG. MAX DAYS the office/agent presenting the information.” SALES PRICE SALES PRICE ON MARKET SHERMAN OAKS, CALIFORNIA

AREA SQUARE MILES MEDIAN AGE TOP OCCUPATION 8.108 mi² 38 MANAGEMENT

POPULATION COMMUTE TIME EDUCATION 77,000 35.6 min Bachelor’s Degree

MEDIAN INCOME PROPERTY VALUE $ $100,563 $1,213,689 STUDIO CITY, CALIFORNIA

Studio City is less a city and more a neighborhood itself. It spans just 5.6 miles in the north part of Los Angeles, bordered by Sherman Oaks, Valley Village and Toluca Lake. It’s an excel- lent choice for people who want to be near Downtown LA, but enjoy a quieter lifestyle

There are almost 50,000 people living in Studio City. The median age is 42.5, and about 39% of folks in Studio City have kids under the age of 18. Studio City has a highly educated population; more than 60% of the Studio City population has received their Bachelor’s Degree or higher. There’s also some huge income disparities here; there’s a high unemployment level of 6.1%, while at the same time, 30% of households have an income above $150,000 per year.

Studio City is relatively diverse, with 70% of the population being white Americans. Ten percent of the Studio City population is Hispanic, 49% is Black, and 7.3% is of Asian descent. When talking about Studio City’s demographics, it’s also important to note that the area is home to a relatively high number of celebrities. The proximity to studios and gorgeous surroundings MANAGEMENT have made many A-listers choose Studio City as their home.

The median household income in Studio City is $105,301 per year. This is high, both in relation to the national average, and the median in Los Angeles as a whole. Though there are jobs in many industries in Studio City, the neighborhood got its name because of the many filming studios that call it home. CBS, NBC and Universal Studios all have studios in Studio City. Most people living in Studio City, however, work within Los Angeles, where the top employers are in city government and education. Other major employers in LA include Walt Disney Co., Providence Healthcare & Services, and the Bank of America. CBS STUDIO, STUDIO CITY

Mack Sennett, silent film producer and director, opens his new movie studio at this location (now Ventura Boulevard and Radford Avenue). His previous studio on Glendale Boulevard was the home of the Keystone Kops, Charlie Chaplin, W.C.Fields and Fatty Arbuckle. The area was being developed, and the opening of the studio made sufficient impact that the surround- ing area became known as Studio City. The studio consisted of one office building, a projection room / film editing building, a film library, a two-storey dressing room building attached to a large soundstage, a wardrobe building, garage, and a stage with a sunken swimming pool.

UNIVERSAL STUDIOS HOLLYWOOD

The world-famous Universal Studios Hollywood is a film studio and theme park located just a stone’s throw away (technically it’s in Universal City but we couldn’t resist mentioning). Attrac- tions include The WizardingW orld of Harry Potter, The Simpsons Ride, and other immersive themed lands. During the Studio Tour, visitors ride in a trolley and go behind-the-scenes of various film sets on the Universal Studios lot. At the adjacent Universal CityWalk, a vast se- lection of entertainment, shopping, and dining options are available, along with an 18-screen Universal Cinema and a seven-story IMAX theater.

THE BRADY BUNCH HOUSE, STUDIO CITY

The second most-photographed home in theU .S. after the White House, the Brady Bunch House will forever hold a special place in television history and American pop culture. In 2018, HGTV transformed the iconic ranch home, which was used for exterior shots on the original series, into a replica of the original TV set at Paramount Studios. Everything from the iconic floating staircase and Greg’s attic to the orange-and-green kitchen was recreated, as well as the addition of 2,000 square feet to the original footprint—all without compromising the home’s instantly recognizable street view. VAN NUYS AIRPORT Located in the heart of the San Fernando Valley, Van Nuys Airport (VNY) the FBOs also serve as major leaseholders of airport property, subletting ranks as one of the world's busiest general aviation airports. Dedicated to land and buildings to other airport tenants. noncommercial air travel, VNY averages over 238,000 takeoffs and land- ings annually. VNY has two parallel runways — one with full instrument VNY serves as home to numerous companies that provide aviation sup- landing system — and a FAA tower. The main runway is 8,000 feet in port activities such as aircraft repairs, avionics, interior work and other length and the training runway is 4,000 feet long. VNY has a rich history specialized functions. in aviation, hosting record breakers and celebrities over its 86 years in service. VNY is one of three airports owned by Los Angeles World Airports, including Los Angeles International, LA/Ontario International and LA/ In addition, more than 100 businesses are located on the 730-acre airport, Palmdale Regional. The airport system operates under the direction of a including four major fixed-base operators (FBOs): Bob Hoover's Jet Cen- policy-making Board of Airport Commissioners appointed by the Mayor ter, Castle & Cooke Aviation, Clay Lacy Aviation, and Signature Aviation. of Los Angeles. These operators provide aircraft storage and parking, aviation fuel, aircraft sales, flight instruction, aircraft charter and aircraft maintenance. Some of A Regional Approach to Meeting Passenger Demand NEW DEVELOPMENTS

VEDA LUXURY APARTMENTS IN REDESIGN UNVEILED FOR BIG BIG HOUSING PROPOSAL FOR THE HEART OF SHERMAN OAKS SHERMAN OAKS APARTMENT OLD SUNKIST HEADQUARTERS COMPLEX

Home is more than just four walls and a roof. It’s The project, slated for a five-acre site at Sepulveda Boule- A plan to put residential units, shops, and restaurants around a Brutalist office building constructed in the 1970s in Sher- where friends and family gather after a long work vard and Camarillo Street for the better part of two decades, calls for the construction of a low-rise complex featuring 325 man Oaks is moving ahead after a few years of tweaks and week. It’s that familiar aroma of fresh coffee from apartments, roughly 44,000 square feet of retail space, and negotiations between the developer and the neighborhood. your favorite Ventura Boulevard café. It’s a quiet parking. IMT Residential, which acquired the entitled devel- afternoon drive along Mulholland, and not-so- opment site in July 2019 for $58 million, has retained KFA The project, approved Tuesday by the Los Angeles City Architecture to design the retooled project. Council’s planning and land use management committee, quiet nights out in Downtown. At VÉDA, home is is “an outstanding example of a developer and community at the intersection of all these things. Yet life here Illustrations provided to the neighborhood council depict working together for a very special and exceptional project,” is more than just easy access to your daily desti- a series of low-rise and podium-type structures, arranged says Jeffrey Kalban, chair of the Sherman Oaks neighborhood nations. It’s where formalities are replaced by fun, around a network of private and publicly-accessible open council’s planning and land use committee. and where every living space is decked with the spaces. The buildings, which could stand up to six stories The site at the intersection of Hazeltine and Riverside Drive comforts you crave. in height, are depicted with Tuscan architectural elements, greeting Sepulveda Boulevard with a landscaped central pla- backs up to the Los Angeles River and the 101 Freeway. The za. plan to incorporate a 28,000-square-foot park that would connect to the LA River was especially attractive to the neigh- Construction permits for Via Avanti are currently pending borhood council, and Kalban called it “a true community with the Los Angeles Department of Building and Safety amenity.”

Source: www.liveatveda.com Source: urbanize.city Source: https://la.curbed.com/2020/2/5/21124256/sherman-oaks-sunkist-imt-residential THE ORION PRESENTED BY:

KEVIN W. HURLEY, Director 626.484.1897 [email protected] DRE# 01237798

KEVIN LUTZ, Director 626.429.0685 [email protected] DRE# 00925595