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Home , Carroll Avenue, Glendale Boulevard, Los Feliz Boulevard, Sunset Boulevard

UNPARALLELED ECHO PARK DEVELOPMENT OPPORTUNITY

FOR SALE: 1485 - 1501 W (ECHO PARK), CA 90026

101

Downtown Dodger Los Angeles Stadium 110

110 0.75 miles 1.75 miles

101 Echo Park RARE ±36,044 SQ. FT. SITE IN PRIME ECHO PARK TABLE OF CONTENTS FOR MORE INFORMATION PLEASE CONTACT

THE OFFERING 3 ROBERT BONANOMI Lic. 00547357 +1 818 907 4633 PROPERTY SUMMARY 5 [email protected] Property Overview Property Highlights ED MATEVOSIAN Parcel Map Lic. 01358783 +1 818 502 6744 Aerial Map [email protected] Zoning

GEOFF MULLEN Lic. 01966425 MARKET OVERVIEW 12 +1 818 907 4631 Market Overview [email protected] Development Pipeline NATALIE AGHAEI Demographics Lic. 01939416 +1 310 948 2948 [email protected] DEVELOPMENT PIPELINE 18 Development South Park District Development THE OFFERING THE OFFERING

CBRE, Inc. is pleased to present rare development opportunity to purchase nine contiguous parcels in thriving Echo Park. These nine contiguous parcels comprise of approximately 36,044 square feet, or approximately 0.83 acres, in the heart of Echo Park. These parcels are located along Sunset Boulevard and are zoned C2-1VL and RD2-1VL. Buyer to verify zoning and allowable units with the city. CALL FOR OFFERS: FRIDAY, APRIL 1 AT 5PM PRICE: BEST OFFER

Addresses: 1485 W. Sunset Blvd, 1487 W. Sunset Blvd, 1489 W. Sunset Blvd, 1501 W Sunset Blvd, & 1314 McDuff St, Los Angeles, California 90026

APNs: 5406-001-014 5406-001-016 5406-001-017 5406-001-018 5406-001-019 5406-001-020 5406-001-021 5406-001-022 5419-027-007

Submarket: Echo Park

Site Area: ±36,044 sq. ft. (±0.83 AC)

Building Area: ±19,772 sq. ft.

Ownership: Fee Simple

CBRE | 4 PROPERTY SUMMARY PROPERTY OVERVIEW 1485 - 1501 WEST SUNSET BOULEVARD

Laveta Terrace

Laveta Terrace

W Sunset Blvd

Mc Duff St

9 8 7

6 5 4

3 2

1 Portia St

PARCEL INFORMATION INVESTMENT SUMMARY

ADDRESS APN# ZONING BLDG. SF LOT SF 1 Land 5406-001-014 LARD2 0 ±1,238 Total Land Area: ±36,044 SF 2 1485 W. Sunset Blvd. 5406-001-016 LAC2 ±3,672 ±2,749 3 1487 W. Sunset Blvd. 5406-001-017 LAC2 ±7,000 ±5,747 4 1489 W. Sunset Blvd. 5406-001-018 LAC2 ±4,100 ±5,044 Total Building Area: ±19,772 SF 5 Land 5406-001-019 LAC2 0 ±267 6 Parking Lot 5406-001-020 LAC2 0 ±4,758 7 Parking Lot 5406-001-021 LAC2 0 ±4,759 8 1314 McDuff St. 5406-001-022 LARD2 0 ±6,482 9 1501 W. Sunset Blvd. 5419-027-007 LAC2 ±5,000 ±5,000 CBRE | 6 PARCEL MAP 1501 W SUNSET BLVD

1501 W Sunset Blvd APN 5419-027-007

CBRE | 7 PARCEL MAP 1485-1489 W SUNSET BLVD & 1314 MCDUFF ST.

1485-1489 W Sunset Blvd & 1314 McDuff St.

APNs 5406-001-014 5406-001-016 5406-001-017 5406-001-018 5406-001-019 5406-001-020 5406-001-021 5406-001-022

CBRE | 8 ZONING 1485 - 1501 WEST SUNSET BOULEVARD

CBRE | 9 PROPERTY HIGHLIGHTS

STRENGTHS

• Excellent location in the heart of it all!

• Extremely rare development opportunity

• Strong and dense rental neighborhood surrounding these sites

• Quick access to all of Los Angeles

• Solid demographics: Within a mile radius of the subject site, daytime employment is near 9,000 individuals and population is over 43,600 individuals. Within half a mile radius of subject site, the average home value is north of $667,000.

Blue Bottle Coffee

UNMATCHED FUTURE POTENTIAL With Downtown Los Angeles and Silver Lake just around the corner, Echo Park is continuously expanding in business, culture, sports, restaurants and entertainment.

Button Mash Arcade

CBRE | 10 AERIAL MAP

2 Atwater Village Eagle Rock

Los Feliz

2

101 Silver Lake 5

SUBJECT PROPERTY

Echo Park

101 110

Koreatown 5

Downtown 10 Los Angeles

110

CBRE | 11 MARKET OVERVIEW MARKET OVERVIEW ECHO PARK

ECHO PARK WORLD CLASS DINING. LEGENDARY NIGHTLIFE. Surrounded by Elysian Park, Elysian Valley, Silver Lake and Chinatown, Echo Park is a diverse, up and coming neighborhood where you’ll find variety of attractions. Echo Park is a densely populated neighborhood of over 43,000 residents. It has one high school and eight other schools. Districts within Echo Park: • Angelino Heights • Elysian Heights • Historic Filipinotown • Victor Heights

Top Attractions: • Echo Park Lake o The Echo Park neighborhood was named after this famous lake o Home to the famous “Lady of the Lake” statue o Recently underwent a $45 million renovation • Baxter Street Stairs o Popular place to exercise; fascinating views of Downtown Los Angeles, Dodger Stadium Mohawk Bend Restaurant , and the Hollywood sign • o Street lined with Victorian manors that date to the 19th century • Chavez Ravine Arboretum o Features over 100 varieties of trees from all over the world • The Echoplex o 350-person music venue that is home to big name performers and inde pendent rock acts o Rolling Stones had a surprise performance at the Echoplex in 2013 • El Prado o Wine and beer bar • Origami Vinyl o One of the best record stores in Los Angeles; located on Sunset Boulevard • Taco Zone o Famous taco truck located in the Vons parking lot at Alvarado and Montana • Valerie Confections o Popular breakfast, pastry, and afternoon tea joint • Golden Road Brewery Elysian Park: 2nd largest Shepard Fairey’s Gallery o Recently purchased by Anheuser-Busch park in Los Angeles

CBRE | 13 MARKET OVERVIEW SILVER LAKE

SILVER LAKE Lake has become the center of the alternative and indie rock scene in Los Angeles. The Silver Lake, known as one of “the city’s hippest neighborhoods”, is bordered by Atwater neighborhood was home to two major street festivals each year: the Silver Lake Jubilee Village, Elysian Valley, Echo Park, Westlake, Los Feliz, and East Hollywood. This neigh- and the Sunset Junction Street Fair. The last festival was held in 2010. Since the indie borhood was named and built around the Silver Lake Reservoir. Silver Lake is famous for rock music scene is particularly prominent in this neighborhood, comparisons are often the notable individuals who have lived there, its restaurants, and its nightlife (bars/clubs). drawn between Silver Lake and New York City’s Williamsburg district. As a result, it is The neighborhood has three public and four private schools. sometimes referred to as the “Williamsburg of the West”. Top Attractions: Beginning in the 1970s, the Silver Lake neighborhood started to develop its own unique • Silver Lake Reservoir culture. Since 2000, gentrification has intensified in the neighborhood, including the o Includes the Silver Lake Recreation Center, the Silver Lake Walking Path opening of many stylish independent boutiques, coffee shops, fitness studios, and restau- (which circumnavigates the reservoirs ±2.25 miles), and the Silver Lake Meadow rants. • The Industry o Opera venue and ballet studio Silver Lake is a very creative neighborhood and therefore, it attracts art and film-oriented • Akbar residents. The neighborhood was home to Walt Disney’s first large studio from 1925 to o Hetero-friendly bar on the corner of Sunset and Fountain 1939, located at Hyperion Avenue and Boulevard. Since the 1990s, Silver • Bar Keeper: Joe Keeper’s Sunset Junction shop o Hidden gem with an impressive inventory of spirits, bitters, tins, glasses and fountains • Yolk o Children’s clothing, home décor, and toy store • Broome Street General Store o Store-café with outdoor seating; serves Gimme coffee and Cube sandwiches • Cliff’s Edge o Bugalow-like shaded restaurant with delicious dishes, overarching trees, and a rustic, romantic feel • Rockaway Records o Inventory of new and rarely used records; wide collection of memorabilia • The Satellite o Once a gay disco called Dreams, this indie rock venue then became known as Spaceland and is now called The Satellite; known as an incubator for the Silver Lake independent rock scene • Silverlake Wine o Boutique wine shop on , which focuses on educating the community about small wine productions and holds weekly tasting events CBRE | 14 MARKET OVERVIEW LOS FELIZ

LOS FELIZ Los Feliz, a hillside neighborhood in central Los Angeles, is bordered by Griffith Park, Atwater Village, Silver Lake, East Hollywood, and Hollywood. The neighborhood is named after its colonial Spanish-Mexican land grantee, José Vicente Feliz. Rancho Los Feliz had a succession of owners after the Feliz family. One owner, Griffith J. Griffith, donated over half of the ranch to the city of Los Angeles and the ranch became one of the largest city-owned parks in the country (Griffith Park).

Districts within Los Feliz: • The Los Feliz Hills— contains multimillion-dollar homes • Los Feliz Estates— north of • Laughlin Park • Los Feliz Village • Los Feliz Square • Los Feliz Knolls • The Greek Theatre • Franklin Hills o Completed in 1929 and renovated since then, the Greek Theatre is designed with over 6,000 seats; today, contemporary and classical music Los Feliz is known for its entertainment and architectural history— it has been home to acts consistently perform here movie stars, musicians, and the Hollywood elite. It boasts some of the best-known res- • Homestate idential architecture in the city, including two homes designed by Frank Lloyd Wright. o Austin, Texas-inspired breakfast tacos Mickey Mouse was “born” in Los Feliz: Walt Disney drew his first image of the now-leg- • Skylight Books endary character in the garage of his uncle’s house, located in Los Feliz. Disney’s first o Independent bookstore with a wonderfully curated selection of books and second animation studios were also located in Los Feliz. • Una Mae’s o Boutique store that sells jewelry, shoes, and apothecary items Top Attractions: • Vista Theatre • Bar Covell o Single-screen theatre originally open to the public in 1923; seats around o Beers on tap and wonderful place to learn about wine 400 persons • Berendo Stairs to Griffith Observatory • Alcove Café and Bakery o Great hike up to Griffith Observatory; stunning views of Los Angeles o Popular, trendy, casual café, which attracts customers from all over Los • Drawing Room Angeles o Red-hued dive bar; songs are chosen from the jukebox with a top-notch music selection CBRE | 15 TRANSPORTATION

SUBJECT

CENTER OF IT ALL: Less than 1 mile to Dodger Stadium and less than 2 miles to the thriving Downtown Los Angeles

CBRE | 16 DEMOGRAPHICS

.5 MILE 1 MILE 3 MILE .5 MILE 1 MILE 3 MILE

Place of Work Job Type

Daytime Employment (Total Employees) 2,743 8,958 355,357 Blue Collar 17.15% 19.26% 23.33%

Population White Collar 59.13% 54.74% 50.11%

2015 Population 12,319 43,601 502,591 Service & Farm 23.72% 26.00% 26.56%

2020 Population 12,828 45,182 522,936 Housing Value

Percent Pop Change: 2015 to 2020 4.13% 3.63% 4.05% 2015 Median Home Value $622,804 $565,236 $520,905

Age 2015 Average Home Value $667,458 $632,469 $605,750

2015 Median Age 35.65 35.46 35.82 Housing Units

2015 Average Age 37.29 37.06 37.41 2015 Housing Units 5,202 16,532 203,111

Households 2015 Occupied Housing Units 4,841 15,437 186,997

2015 Households 4,841 15,437 186,997 2015 Vacant Housing Units 361 1,096 16,114

2020 Households 5,098 16,161 196,607 2015 Owner-Occupied Housing Units 999 3,386 28,479

Percent HH Change: 2015 to 2020 5.32% 4.69% 5.14% 2015 Renter-Occupied Housing Units 3,842 12,051 158,518

Average Household Size 2.54 2.76 2.56

Household Income

2015 Average Household Income $59,031 $58,291 $50,256

2020 Average Household Income $62,663 $61,410 $51,881

CBRE | 17 DEVELOPMENT PIPELINE DEVELOPMENT PIPELINE ECHO PARK, SILVER LAKE, LOS FELIZ, EAST HOLLYWOOD

Status Address Developer/Owner Unit Count Submarket

Alta 5550 Under Construction; 1 5550 Hollywood Blvd, Wood Partners / Astani Enterprises 280 Silver Lake Partially Affordbale Los Angeles, CA 90027

HoM @ West Temple Under Construction; 2 3221 West Temple St, Sharp Capital 67 Silver Lake Partially Affordbale Los Angeles, CA 90026

Temple Union Under Construction; 3 330 N Union Ave, Bond Companies 69 Silver Lake Market Rate Los Angeles, CA 90026

5750 Hollywood Planned; 4 5750 Hollywood Blvd, Cambra Realty 161 Silver Lake Market Rate Los Angeles, CA 90028

Bellevue Avenue and Silver Lake Boulevard Planned; 5 NWC Bellevue Ave & Silver Lake Blvd, CIM Group 136 Silver Lake Market Rate Los Angeles, CA 90026

Coronel Affordable Planned; 6 1601 North Hobart Blvd, Hollywood Community Housing 54 Silver Lake Market Rate Los Angeles, CA 90027

1311 N. Cahuenga Blvd Planned; 7 1311 North Cahuenga Blvd, Cal-Coast Development 369 East Hollywood Market Rate Los Angeles, CA 90028

6200 Sunset Planned; 8 6200 Sunset Blvd, Hanover Company 270 East Hollywood Market Rate Los Angeles, CA 90028

Essex Hollywood Planned; 9 6250 W. Sunset Blvd, Essex Property Trust 200 East Hollywood Market Rate Los Angeles, CA 90028

City Lights Planned; 10 Hollywood Blvd & Hillhurst Ave, Chandler Pratt & Partners 202 Los Feliz Market Rate Los Angeles, CA 90027

CBRE | 19 DEVELOPMENT PIPELINE ECHO PARK, SILVER LAKE, LOS FELIZ, EAST HOLLYWOOD

Status Address Developer/Owner Unit Count Submarket

Visayas Haven Planned; 11 422 North Alvarado St, Fallbrook Multifamily Investments 59 Silver Lake Fully Affordable Los Angeles, CA 90026

4100 Sunset Planned; 12 4100 Sunset Blvd, Frost/Chaddock Developers 92 Silver Lake Partially Affordable Los Angeles, CA 90029

Deluxe Hollywood Planned; 13 North Western Ave & Fernwood Ave, LaTerra Development 254 Silver Lake Partially Affordable Los Angeles, CA 90028

525 North Wilton Place Planned; 14 525 North Wilton Pl, Frost/Chaddock Developers 88 East Hollywood Partially Affordable Los Angeles, CA 90004

Paseo Plaza Hollywood Planned; 15 5601 Santa Monica Blvd, CIM Group 700 East Hollywood Partially Affordable Hollywood, CA 90038

The Lexington Planned; 16 6677 Santa Monica Blvd, DS Ventures 695 East Hollywood Partially Affordable Los Angeles, CA 90038

MR2 Lofts Planned; 17 6901 Santa Monica Blvd, Onni Group 231 East Hollywood Partially Affordable Los Angeles, CA 90038

4311 Sunset Planned; 18 4311 Sunset Blvd, Frost/Chaddock Developers 122 Los Feliz Partially Affordable Los Angeles, CA 90029

Sunset 4000 Prospective; 19 4000 Sunset Blvd, Frost/Chaddock Developers 98 Silver Lake Market Rate Los Angeles, CA 90029

Step Up on Western Prospective; 20 1011 N Western Ave, Palm Communities 97 East Hollywood Fully Affordable Los Angeles, CA 90029

TOTAL PIPELINE UNIT COUNT IN ECHO PARK, LOS FELIZ, SILVER LAKE, EAST HOLLYWOOD 4,244 CBRE | 20 Source: Costar, AXIOMetrics, Pierce Eislen DEVELOPMENT PIPELINE MAP

SUBJECT

1) ALTA 5550 11) VISAYAS HAVEN 2) HOM @ WEST TEMPLE 12) 4100 SUNSET 3) TEMPLE UNION 13) DELUXE HOLLYWOOD 4) 5750 HOLLYWOOD 14) 525 NORTH WILTON PLACE 5) BELLEVUE AVE & SILVER LAKE BLVD 15) PASEO PLAZA HOLLYWOOD 6) CORONEL AFFORDABLE 16) THE LEXINGTON 7) 1311 N. CAHUENGA BLVD 17) MR2 LOFTS 8) 6200 SUNSET 18) 4311 SUNSET 9) ESSEX HOLLYWOOD 19) SUNSET 4000 10) CITY LIGHTS 20) STEP UP ON WESTERN CBRE | 21 DEVELOPMENT DOWNTOWN LOS ANGELES

Downtown Los Angeles’ rapid development frenzy and gentrification is spreading to its nearby counterpart, Echo Park; subject site is less than 2 miles away from thriving Downtown Los Angeles

CBRE | 22 DISCLOSURE

AFFILIATED BUSINESS DISCLOSURE CONFIDENTIALITY AGREEMENT DISCLAIMER

CBRE, Inc. operates within a global family of companies with This is a confidential Memorandum intended solely for your limited accuracy or completeness of this Memorandum or any of its © 2016 CBRE, Inc. The information contained in this document many subsidiaries and/or related entities (each an “Affiliate”) use and benefit in determining whether you desire to express contents, and no legal commitment or obligation shall arise by has been obtained from sources believed reliable. While CBRE, engaging in a broad range of commercial real estate businesses further interest in the acquisition of the Property. reason of your receipt of this Memorandum or use of its contents; Inc. does not doubt its accuracy, CBRE, Inc. has not verified it including, but not limited to, brokerage services, property and and you are to rely solely on your investigations and inspections and makes no guarantee, warranty or representation about This Memorandum contains selected information pertaining facilities management, valuation, investment fund management of the Property in evaluating a possible purchase of the real it. It is your responsibility to independently confirm its accuracy to the Property and does not purport to be a representation and development. At times different Affiliates may represent property. and completeness. Any projections, opinions, assumptions or of the state of affairs of the Property or the owner of the various clients with competing interests in the same transaction. estimates used are for example only and do not represent the Property (the “Owner”), to be all-inclusive or to contain all or part The Owner expressly reserved the right, at its sole discretion, to For example, this Memorandum may be received by our Affiliates, current or future performance of the property. The value of this of the information which prospective investors may require to reject any or all expressions of interest or offers to purchase the including CBRE Investors, Inc. or Trammell Crow Company. Those, transaction to you depends on tax and other factors which should evaluate a purchase of real property. All financial projections and Property, and/or to terminate discussions with any entity at any or other, Affiliates may express an interest in the property be evaluated by your tax, financial and legal advisors. You and information are provided for general reference purposes only time with or without notice which may arise as a result of review described in this Memorandum (the “Property”) may submit an your advisors should conduct a careful, independent investigation and are based on assumptions relating to the general economy, of this Memorandum. The Owner shall have no legal commitment offer to purchase the Property and may be the successful bidder of the property to determine to your satisfaction the suitability of market conditions, competition and other factors beyond the or obligation to any entity reviewing this Memorandum or making for the Property. You hereby acknowledge that possibility and the property for your needs. control of the Owner and CBRE, Inc. Therefore, all projections, an offer to purchase the Property unless and until written agree that neither CBRE, Inc. nor any involved Affiliate will have assumptions and other information provided and made herein agreement(s) for the purchase of the Property have been any obligation to disclose to you the involvement of any Affiliate are subject to material variation. All references to acreages, fully executed, delivered and approved by the Owner and any in the sale or purchase of the Property. In all instances, however, square footages, and other measurements are approximations. conditions to the Owner’s obligations therein have been satisfied CBRE, Inc. will act in the best interest of the client(s) it represents Additional information and an opportunity to inspect the Property or waived. in the transaction described in this Memorandum and will not will be made available to interested and qualified prospective By receipt of this Memorandum, you agree that this Memorandum act in concert with or otherwise conduct its business in a way purchasers. In this Memorandum, certain documents, including and its contents are of a confidential nature, that you will hold and that benefits any Affiliate to the detriment of any other offeror leases and other materials, are described in summary form. treat it in the strictest confidence and that you will not disclose this or prospective offeror, but rather will conduct its business in a These summaries do not purport to be complete nor necessarily Memorandum or any of its contents to any other entity without manner consistent with the law and any fiduciary duties owed accurate descriptions of the full agreements referenced. the prior written authorization of the Owner or CBRE, Inc. You to the client(s) it represents in the transaction described in this Interested parties are expected to review all such summaries and also agree that you will not use this Memorandum or any of its Memorandum. other documents of whatever nature independently and not rely contents in any manner detrimental to the interest of the Owner on the contents of this Memorandum in any manner. or CBRE, Inc.

Neither the Owner or CBRE, Inc, nor any of their respective If after reviewing this Memorandum, you have no further interest directors, officers, Affiliates or representatives make any in purchasing the Property, kindly return this Memorandum to representation or warranty, expressed or implied, as to the CBRE, Inc.

CBRE | 23 FOR MORE INFORMATION PLEASE CONTACT

ROBERT BONANOMI ED MATEVOSIAN GEOFF MULLEN NATALIE AGHAEI Lic. 00547357 Lic. 01358783 Lic. 01966425 Lic. 01939416 +1 818 907 4633 +1 818 502 6744 +1 818 907 4631 +1 310 948 2948 [email protected] [email protected] [email protected] [email protected]

CBRE, Inc. | 234 S. Brand Blvd | Glendale, CA 91204 | www.cbre.com/lanorth