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90% Permit Ready Development Site for 18 Townhome Units

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90% Permit Ready Development Site for 18 Townhome Units GLENDALE Los Feliz Blvd. 90% Permit Ready Development Site for 18 Townhome Units Utilizing Small Lot Ordinance Finley Ave. ± Messhall Kitchen 0.65 Acres in Los Feliz Stamp Proper Foods Starbucks Reserve Little Dom’s LOS FELIZ Cafe Los Feliz The Coffee Bean & Tea Leaf Lassens Blue Bottle Coffee ATWATER Albertsons Yuca’s VILLAGE Hillhurst Ave. All Time Rendering N. Vermont Ave. Franklin Ave. Trattoria Farfalla Farfalla Vinoteca House of Pies Jeni’s Splendid Ice Cream N. Edgemont St. Alcove Mustard Seed Cafe U.S. Postal Service Bru Coffeebar 5 Palermo Italian Fred’s 62 Los Feliz Branch Los Feliz Theater Library Skylight Books Figaro Bistrot Simply Thai Il Capriccio The Punchbowl Tub Tim Siam 1739 Public House La Pergoletta The Dresden Sidewalk Home Grill Rockwell Table SITE & Stage Bank of Snatch the Mic America Yoga Vibe Starbucks U.S. Bank Desert Rose Hollywood Blvd. Prospect Ave. Go Get Em Tiger Kismet RotisserieSogo RollHome Bar State Rite Aid SILVERLAKE Hollywood Blvd. JONS International Marketplace Friday, December 11, 2020 by 5:00 PM OFFER DUE DATE: www.The4773.com Barnsdall Art Park Vermont/Sunset Metro Station Rendering 2 4773 HOLLYWOOD BLVD | LOS ANGELES, CA 4773 Hollywood Blvd. DOWNTOWN LOS ANGELES Hollywood Presbyterian Medical Center SILVERLAKE Vons EAST Vermont/Sunset HOLLYWOOD Metro Station Crossroads Trading Kaiser Permanente Hollywood Blvd. Home State Sogo Roll Bar Go Get Em Tiger Kismet Rotisserie Umami Burger Starday Vintage JONS International Prospect Ave. Marketplace Starbucks U.S. Bank Rite Aid Rockwell Table & Stage Barnsdall Art Park Snatch the Mic The Dresden N. Vermont Ave. Bank of America Sidewalk Grill 1739 Public House Hollywood Blvd. Il Capriccio N. New Hampshire Ave. SITE N. Berendo St. WEST SANTA MONICA CENTURY CITY HOLLYWOOD BEVERLY HILLS The Hollywood Roosevelt Hollywood & Highland W Hotel Hollywood/Vine Capital Records Metro Station Bolt EaHo Torung Petco Marshalls Ralphs Hollywood/Western The Dixie Hollywood HOLLYWOOD Metro Station Thai Barbeque Harvard and Stone El Adobe Market Sanamluang Cafe Sapp Coffee Shop Kruang Tedd Bravo Pizza Tabula Rasa Bar Carousel Restaurant Franklin Ave. Cruzer Pizza Adele’s of Hollywood Papillon International Bakery Most Unique Flowers Barnsdall Art Park Taron Bakery Out of the Closet N. Edgemont St. N. Berendo St. Hollywood Blvd. SITE N. New Hampshire Ave. TRAFFIC COUNTS AT MAJOR CROSS STREETS Hollywood Blvd & N. New Hampshire Ave. 27,045 ADT 27,840 Hollywood Blvd & N. Edgemont St. Converted Approach Count TABLE OF CONTENTS I. EXECUTIVE SUMMARY II. COMPARABLES III. AREA OVERVIEW SITE © 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. Layout ID:L04 MapId:7585112 Contacts: LAURIE LUSTIG-BOWER KADIE PRESLEY WILSON Executive Vice President First Vice President OFFER DUE DATE: Friday, December 11, 2020 Lic. 00979360 Lic. 01476551 by 5:00 PM +1 310 550 2556 +1 310 550 2575 [email protected] [email protected] www.The4773.com LOS FELIZ I N. Vermont Ave. SITE Hollywood Blvd. Executive Summary Executive Summary CBRE, Inc. as exclusive agent is pleased to present for sale 4773 Hollywood Boulevard, a fully entitled, nearly ready to issue permits development site to build 18 small lot ordinance townhomes with attached garages in one of Los Angeles’ most desirable residential neighborhoods, Los Feliz. Located at 4773 Hollywood Boulevard at the intersection of Berendo Street, the townhome community will have two entry points with three rows of homes. All homes will be three stories and comprised of three or four bedrooms, three and one half baths, and tandem two-car garages. Six of the townhomes fronting Hollywood Boulevard will feature flexible space with 14’ ceilings, and two-car garages with subterranean lifts. Fourteen of the homes will have rooftop sundecks with panoramic views of Griffith Park Observatory, the Hollywood Hills, the Hollywood Sign and Downtown Los Angeles. Homes will range in size from ±1,964 square feet to ±2,622 square feet. The ±28,409 square foot vacant parcel sits directly across the street from Barnsdall Art Park in the highly coveted submarket of Los Feliz. The park is a Los Angeles Historic-Cultural Monument and features Frank Lloyd Wright’s first Los Angeles project, Hollyhock House, a Unesco World Heritage Site. 4773 Hollywood Boulevard boasts an outstanding WalkScore of 93 out of 100. It is a six minute walk to the Vermont/Sunset Metro Station Red Line and is just one block from the popular retail shops and restaurants that line Vermont Avenue. The property is offered to the market on an unpriced basis. Offers are due Friday, December 11, 2020 by 5:00pm. 8 4773 HOLLYWOOD BLVD | LOS ANGELES, CA Investment Highlights Permit Ready for 18 Excellent Los Feliz Townhome Units Location Griffith Observatory Outstanding Six Minute Walk to WalkScore® of 93 the Metro Red Line Connecting Hollywood to DTLA One Block to Retail Across the Street from Shops and Restaurants Barnsdall Art Park and Along Vermont Avenue Frank Lloyd Wright’s Los Feliz Theater Hollyhock House Excellent Proximity to Walking Distance to: Multiple Employment • Kaiser Permanente Centers • Children’s LA Hospital • Hollywood Presbyterian 9 4773 HOLLYWOOD BLVD | LOS ANGELES, CA Hollyhock House Property Information Unit Mix Balconies Rooftop Private Unit Type Units Avg SF SF Deck SF Yard SF 4773 Hollywood Blvd. ADDRESS 3+2 3 2,475 283 714 0 Los Angeles, CA 90027 3+2 2 2,475 283 714 0 ASSESSOR PARCEL 5589-030-030 3+2 1 2,622 283 714 0 NUMBER 3+3 4 2,078 0 500 0 SITE AREA ±0.65 or ±28,409 SF 3+3 4 1,978 100 0 200 4+3 4 2,078 0 500 193 ±135' along Hollywood Blvd. & SITE DIMENSIONS ±211' along Berendo St. Total 18 39,533 2,098 8,284 1,572 Average 2,196 117 460 87 ZONING C2-1D & RD1.5-1XL GENERAL PLAN LAND Highway Oriented Commercial USE Vermont / Western Station SPECIFIC PLAN AREA Neighborhood Area Plan (“SNAP”) TRANSIT ORIENTATED Tier 3 COMMUNITY NEIGHBORHOOD Los Feliz Neighborhood Council COUNCIL COUNCIL DISTRICT CD4 – David Ryu 10 4773 HOLLYWOOD BLVD | LOS ANGELES, CA Rendering 11 4773 HOLLYWOOD BLVD | LOS ANGELES, CA Development Status 4773 N. HOLLYWOOD BOULEVARD – 18DU SMALL LOT ORDINANCE Building Permits Pricing Recommendations & Assumptions Construction Drawings Plan Check / Permit Status ENTITLEMENT September 26, 2018 Final (“CD’s) in Plan Check APPROVALS Unappealable City Council Approval 4773 Hollywood Blvd. @ 1.5/Month (1-year marketing window) Grading & Light Impact RTI subject to posting bonds, Home Configuration Unit Base (Sept 2018) Base+PremiumDevelopment Assumptions/Totalpaying permit Pricefees ARCHITECTURE & Construction drawings need to be Plan ENGINEERING 100% complete for final plan check Bed Bath Flrs Cars Mix Size Price PSF Sale Price PSF Opt/Upgr Pre mium90% RTI Totalsubject Price to receivingPSF C 3 2.5 3 2T 6 1,964 $1,475,000 $751 $1,551,428Onsite $790 Improvements$73,750 $76,428Departmental $1,625,178 Clearances, $827 posting VESTED TENTATIVE bonds, paying permit fees VTT-74730-SL-2A C1 3 2.5 3 2T 2 1,964 $1,327,500 $676 $1,403,928 $715 $66,375 $76,428 $1,470,303 $749 TRACK MAP B 3 2.5 3 2 2 2,350 $1,625,000 $691 $1,701,428 $724 $81,250 $76,42890% RTI subject $1,782,678 to Departmental $759 A.1 & A.3 2+F 3.5 3 1+L 2 2,361 $1,584,375 $671 $1,660,803Offsite $703 Improvements$79,219 $76,428Clearances, $1,740,022 posting bonds, $737 paying ZONING ADMINISTER ZA-2016-4902-ZAA-SPPA-SPP-DI-1A A & A.2 2+F 3.5 3 1+L 3 2,417 $1,675,000 $693 $1,751,428 $725 $83,750 $76,428permit fees $1,835,178 $759 AGENCY 90% RTI subject to Departmental B.1 3 2.5 3 2 2 2,424 $1,507,500 $622 $1,583,928Building $653 Architecture$75,375 & $76,428 $1,659,303 $685 Clearances; paying park fees, A.4 2+F 3.5 3 1+L 1 2,622 $1,775,000 $677 $1,851,428Structural $706 $88,750 $76,428 $1,940,178 $740 CEQA ENV-2016-4903-CE school fees, paying permit fees Total/Average: 18 2,214 $1,541,042 $699 $1,617,470 $734 $77,052 $76,428 $1,694,522 $769 The table above provides BASE pricing along with estimated average option/upgrade revenue and average premium revenue. Given the unique nature of the site, the individual floorplans, and overall premium potential, we conducted a unit-by-unit pricingParkingstrategy to more accurately predict revenues. Each unit will have an See pages 14-15 for detailed unit-by-unit revenues attached two-car garage with car lift, which will have The 6 homes along Hollywood Blvd (Plans A.1-A.4) have Vasari vault garagedirect liftsaccess(shown to the unit; in picture to the Right).
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