THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR
ORON MAHER BROKER DIRECTOR, ESQUIRE 310.349.3604 [email protected]
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com CONFIDENTIALITY & DISCLAIMER
BRC Advisors operates a commercial real estate business and is an affiliate or franchisee (“Affiliate”) of BRC Advisors Global Affiliates, LLC (“SperryCGA”). BRC Advisors is independently owned and operated. BRC Advisors and the owner (“Owner”) of the property referenced herein (“Property”) present this Confidential Offering Memorandum (“Memorandum”) to assist the recipient(s) (“You” or “Your”) in evaluating the Property and it is intended solely for Your limited use in determining whether you desire to acquire the Property. This Memorandum contains brief, selected information pertaining to the Property and should not be considered all-inclusive or permanent. The information in this Memorandum has been obtained from sources believed to be reliable, but BRC Advisors and SperryCGA have not verified it and Owner, BRC Advisors and SperryCGA do not make any guaranty, warranty or representation, express or implied, as to the accuracy or completeness of this Memorandum or the information contained herein.
You should independently verify each item of information in this Memorandum and have the same reviewed by your tax or investment advisor and/or legal counsel. This Memorandum and any communications You may have with BRC Advisors, SperryCGA and/or Owner and their respective officers, brokers, agents or employees regarding this Memorandum or the Property does not in any way constitute any legal, investment or tax advice to You. All assumptions, projections, estimates and/or opinions in this Memorandum are provided as examples only and all information is subject to change, error, omissions and/or withdrawal without notice. Any references in the Memorandum to area, height, acreage, building or premises size or square footage are approximations only and should be independently verified by You. Any references in the Memorandum to any lease or tenant information, including without limitation the premises, rental rates, rent escalations, common area expenses, percentage rents and lease maturities should be independently verified by You. You should conduct your own investigations and due diligence of the Property, including without limitation environmental and physical condition inspections and reach your own conclusions regarding the suitability of the Property for investment.
BRC Advisors, SperryCGA and Owner assume no responsibility for the accuracy or completeness of any information in this Memorandum. BRC Advisors and Owner expressly disclaim any implied or expressed warranties of merchantability, fitness for a particular purpose or non-infringement of intellectual property relating to this Memorandum. In no event shall BRC Advisors, SperryCGA or Owner be liable for any damages resulting from the reliance on or use of any information in this Memorandum, including but not limited to direct, special, indirect, consequential or incidental damages.
By accepting receipt of this Memorandum, You agree to the following: (a) This Memorandum is of a highly confidential nature, will be held in the strictest confidence and shall be returned to BRC Advisors upon request; (b) You shall not contact any property manager, contractor, employee or tenant of the Property regarding the Property or this Memorandum, without prior approval of BRC Advisors or Owner; and (c) You understand and agree that BRC Advisors represents Owner and not You and (iv) this Memorandum and this information contained therein shall not be used by You in any way that is detrimental to Owner, BRC Advisors or SperryCGA. Neither BRC Advisors, SperryCGA nor Owner shall have any obligation to pay any commission, finder’s fee, or any other compensation to any broker or other person. You may provide information to persons retained by You to evaluate the Property only after first obtaininga signed confidentiality agreement from such persons and providing a copy of such agreement to BRC Advisors.
The Owner expressly reserves the right, at its sole and absolute discretion, to reject any or all expressions of interest or offers to Purchase or Lease the Property, and/or to terminate discussion ith You or any other person or entity at any time with or without notice which may arise as a result of review of the Memorandum. The Owner shall have no legal commitment or obligation to You or any person or entity reviewing this Memorandum or making an offer to purchase, lease, or finance the Property unless and until written agreement(s) for the purchase or finance of the Property that are satisfactory to Owner in its sole and absolute discretion have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein ave been satisfied or waived.
In the event that there is any conflict between any rent rolls, income statements, rents, or operating expenses enumerated in this offering memorandum ("Marketed Information"); and actual leases, estoppel certificates, utility statements, and other operating expenses actually incurred by Seller/Owner ("Actual Information"); then, the "Actual Information" shall supercede any "Marketed Information." Neither Listing Agent nor Seller/Owner make any warranties about Marketed Information and are not responsible for any conflicts between "Marketed Information" and "Actual Information." Buyer must not rely upon "Marketed Information" and must satisfy themselves with regards to "Actual Information."
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com confidentiality & disclaimer // 2 table of contents
property information Executive Summary 5 Property Description 6 Additional Photos 8 location information Regional Map 10 Location Maps 11 Aerial Map 12 Close-up Aerial Map 13 Plat Map 14 demographics Demographic Reports 16 Demographics Map 17
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com table of contents // 3 section 1 property information
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 1 // 4 executive summary
property overview 2280, 2286, and 2290 N Glendale Blvd are three contiguous lots in the exclusive Silver Lake Terrace neighborhood with magnificent, head-on views of Silver Lake Reservoir. Surrounded by multi-million dollar homes, the three lots combine for a total of +/-23,067 square feet and zoned R2-1VL. 2280 and 2286 N Glendale Blvd are both +/- 7,403 square feet and 2290 N Glendale Blvd is +/- 8,261 square feet. The subject site is perched 30’ from Glendale Blvd in the exclusive neighborhood of Silver Lake Terrace. Homes in the area sell for in excess of $700 per square foot. The lots are west of Interstates 5 and 2 (Glendale Freeway) on the southeast corner of Glendale Blvd and Bancroft Ave. Silver Lake has been named one of the “Best Big-City Neighborhoods” by CNN Money and “Los Angeles’ Best Hipster Neighborhood” by Forbes Magazine.
property summary property highlights Sale Price: $2,000,000 • Located in exclusive Silver Lake Terrace neighborhood Property Address: 2280-2290 N Glendale Blvd • Surrounded by multi-million dollar homes Los Angeles, CA 90039 • Many homes in the area sell in excess of $700 per square foot Property Type: Land Total Lot Size: +/-23,067SF • Head-on views of Silver Lake Reservoir # of Parcels: 3 • Perched approximately 30’ from Glendale Blvd APNs: 5440-006-027 • 3 contiguous lots totaling: +/- 23,067 SqFt 5440-006-028 5440-006-029 Zoning: R2-1VL zoning Market: Los Angeles R2-1vl Sub Market: Silver Lake Cross Streets: N Glendale Blvd & Bancroft Ave
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 1 // 5 property description
property description 1) APN# 544-0006-027 2280 N. Glendale Blvd., Los Angeles, CA 90039 • Total Square Footage: 7,403 SF • Total Usable Square Footage: 7,400 SF • Land W’ x D’: 50 x 148 • Zoning: LAR2 • Setbacks: • Front Yard: 7 Ft • Side Yard: 5 Ft • Rear Yard: 15 Ft • Total Usable Area: 5,040 SF • Total Buildable Area: 15,120 SF
2) APN# 544-0006-028 3) APN# 544-0006-029 2286 N. Glendale Blvd., Los Angeles, CA 90039 2290 N. Glendale Blvd/2346 W. Bancroft Ave., Los Angeles, • Total Square Footage: 7,403 SF CA 90039 • Total Usable Square Footage: 7,400 SF • Total Square Footage: 8,261 SF • Land W’ x D’: 50 x 148 • Total Usable Square Footage: 7,792 SF • Zoning: LAR2 • Land W’ x D’: 63 x 148 • Setbacks: • Zoning: LAR2 • Front Yard: 7 Ft • Setbacks: • Side Yard: 5 Ft • Front Yard: 7 Ft • Rear Yard: 15 Ft • Side Yard: 5 Ft • Total Usable Area: 5,040 SF • Rear Yard: 15 Ft • Total Buildable Area: 15,120 SF • Total Usable Area: 6,678 SF • Total Buildable Area: 20,034 SF All information provided obtained in this report have been obtained over the phone and over the counter with the LADBS Zoning counter however neither seller not listing agent warrants this information. Buyer must conduct their own due diligence to determine zoning and building potential for the site and satisfy themselves using their own architects, land use consultants, attornies, and other professionals.
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 1 // 6 property description
As stated by the LADBS Zoning counter the lots have a lot of freedom in terms of how much SF developer desires to build. The buildable area for each lot in accordance to zoning LAR2 is three times (3X) the usuable area.
Parking for each unit is determined by the number habitual rooms are developed for each building on the lot. A habitual room includes the kitchen(s), living room(s), & bedroom(s). Refer to the description below:
Habitual Rooms & Parking: • Less than three habitual rooms - 1 parking needed • Three habitual rooms - 1.5 parking needed • More than three habitual rooms - 2 parking needed
One of the parking units developed must be covered. The second parking unit does not have to be covered.
Parking is also not included in the square footage of the building. In the case that a lot is required to build 2.5, 3.5, 4.5, etc. parking places the .5 is rounded down and the required amount of parking needed would be 2, 3, 4, etc.
Each lot can build two buildings on it and if there are, for example, 4 habitual rooms in one building and 4 habitual rooms in the other building - a total of 4 parking spots are needed. Two of which must be covered and two of which do not have to be covered.
All information provided obtained in this report have been obtained over the phone and over the counter with the LADBS Zoning counter however neither seller not listing agent warrants this information. Buyer must conduct their own due diligence to determine zoning and building potential for the site and satisfy themselves using their own architects, land use consultants, attornies, and other professionals.
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 1 // 7 additional photos
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 1 // 8 section 2 location information
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 2 // 9 regional map
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 2 // 10 location maps
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 2 // 11 aerial map
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 2 // 12 Close-up aerial map
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 2 // 13 plat map
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 2 // 14 section 3 demographics
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 3 // 15 demographics report
1 Mile 2 Miles 3 Miles
Total Households 14,503 62,077 164,547
Total Persons per Household 2.6 2.7 2.7
Average Household Income $78,349 $62,919 $54,325
Average House Value $674,449 $637,730 $604,743
1 Mile 2 Miles 3 Miles
Total Population 37,006 167,841 448,129
Median Age 35.5 33.9 33.9
Median Age (Male) 35.6 33.3 33.1
Median Age (Femaile) 35.0 34.6 34.9
*Demographic data derived from 2010 U.S. Census
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 3 // 16 demographics map
1 Mile 2 Miles 3 Miles
Total Population 37,006 167,847 448,129
Population Density 11,779 13,556 15,849
Median Age 35.5 33.9 33.9
Median Age (Male) 35.6 33.3 33.1
Median Age (Femaile) 35.0 34.6 34.9
Total Households 14,503 62,077 164,547
Total Persons per Household 2.6 2.7 2.7
Average Household Income $78,349 $62,919 $54,325
Average House Value $674,449 $637,730 $604,743 *Demographic data derived from 2010 U.S. Census
THREE contiguous PARCELS WITH VIEWS OF SILVER LAKE RESERVOIR 2280-2290 n gLENDALE bLVD, lOS ANGELES, CA 90039
The Oron Maher Commercial Group, SperryCGA - BRC Advisors // 9301 Wilshire Blvd, Suite 216, Beverly Hills, CA 90210 // oronmaher.com section 3 // 17