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A Unique Value-Add Street Retail Opportunity Ideally Located on a Signalized Corner in The

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A Unique Value-Add Street Retail Opportunity Ideally Located on a Signalized Corner in The SOUTHERN CALIFORNIA'S PREMIER SALES TEAM A UNIQUE VALUE-ADD STREET RETAIL OPPORTUNITY IDEALLY LOCATED ON A SIGNALIZED CORNER IN THE Situated in a GENTRIFYING SUB-MARKET OF EAST HOLLYWOOD IN AN QUALIFIED OPPORTUNITY ZONE OPPORTUNITY ZONE AND A TIER 3 TOC 850 N. Vermont Avenue, Los Angeles, CA 90029 INVESTMENT ADVISORS: BRANDON MICHAELS ANDREW LEFF Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group Director, National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2815 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #01865688 TABLE OF CONTENTS www.BrandonMichaelsGroup.com TEAM MEMBERS Sean Brandt Vaughn Brown Ben Brownstein PROPERTY OVERVIEW Nicole Cottrell 01 Matthew Norona Steven Schechter Austin Sreden CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish FINANCIAL ANALYSIS only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or 02 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 contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE COMPARABLES ANALYSIS Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The 03 presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corpora- tion of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. BRANDON AREA OVERVIEW 04 MICHAELS 16830 Ventura Blvd. Suite 100, Encino, CA 91436 GROUP www.marcusmillichap.com SOUTHERN CALIFORNIA'S PREMIER SALES TEAM BEVERLY SUNSET STRIP BEVERLY HILLS GROVE WEST CENTRAL LA HOLLYWOOD OAKWOOD HOLLYWOOD LOS FELIZ MELROSE LITTLE HOLLYWOOD FWY SANTA MONICA BLVD BANGLADESH N VERMONT AVE NORMAL AVE CLINGTON ST EAST HOLLYWOOD N VERMONT AVE N HOOVER ST SUNSET BLVD SILVER LAKE Situated in a QUALIFIED OPPORTUNITY ZONE 850 N. Vermont Avenue, Los Angeles, CA 90029 SILVER LAKE BLVD EAST HOLLYWOOD • CA HOLLYWOOD FWY 1 PROPERTY OVERVIEW THAI TOWN N VIRGIL AVE LITTLE AMENIA EAST HOLLYWOOD A UNIQUE VALUE-ADD STREET RETAIL OPPORTUNITY IDEALLY LOCATED SANTA MONICA BLVD ON A SIGNALIZED CORNER IN THE GENTRIFYING SUB-MARKET OF EAST Situated in a HOLLYWOOD IN AN OPPORTUNITY ZONE AND A TIER 3 TOC SANTA MONICA BLVD QUALIFIED OPPORTUNITY ZONE 850 N. Vermont Avenue, Los Angeles, CA 90029 The Brandon Michaels Group of Marcus & Millichap as been selected to exclusively market 850 North Vermont Avenue, ideally located on the northeast corner of North Vermont Avenue and Normal Avenue. 850 N Vermont consists of a 8,588 square foot multi-tenant retail building currently ~65% occupied by tenants on short term or month-to-month leases. This creates an opportunity for an investor to realize immediate upside through making improvements and stabilizing the asset at market rents. The property is situated on 12,632 square-feet of land zoned LAC2 and benefits from Tier 3 TOC incentives. The property is also located within a Qualified Opportunity Zone. N MADISON AVE 850 North Vermont Avenue is an ideal investment opportunity due to it’s central location and close proximity to some of LA’s most sought after neighborhoods, N VERMONT AVE including Koreatown, Hollywood, Silver Lake, and Echo park. The property benefits from good transit and high walk scores. It is neighboring the Metro’s Vermont/ Santa Monica station and 4 blocks north of the 101-Freeway. It is directly across the street from the entrance to Los Angeles City College. The immediate area is Situated in a QUALIFIED OPPORTUNITY ZONE benefiting from rapid growth and gentrification, as evidenced by multiple new and upcoming developments nearby. 850 N. Vermont Avenue, Los Angeles, CA 90029 8 9 DOWNTOWN LOS ANGELES CHINA TOWN McDonald's EAST HOLLYWOOD IS A GENTRIFYING LOS ANGELES COUNTY SUB- Situated in a MARKET BORDERED BY CELEBRITY-EMBEDDED HOLLYWOOD, SUPER- QUALIFIED OPPORTUNITY ZONE 850 N. Vermont Avenue, Los Angeles, CA 90029 Situated in a CREATIVE SILVER LAKE, AND LA’S BIG-BUSINESS DOWNTOWN QUALIFIED OPPORTUNITY ZONE HOLLYWOOD FWY 850 N. Vermont Avenue, Los Angeles, CA 90029 N VERMONT AVE 850 N. Vermont Avenue is located in East Hollywood, on the border of the burgeoning neighborhood of Silver Lake. The neighborhood embodies originality, independence, and creativity. Here, residents will find mellow vibes and discover local cafes and watering holes. Additionally, East Hollywood is ideally situated in the epicenter of some of the most desirable neighborhoods on the east side of Los Angeles – Los Feliz, Hollywood, Korea Town and the revitalized Downtown Los Angeles. 4100 Melrose is just a few blocks away from hip and trendy Sunset Junction, the retail, dining and entertainment hub at the intersection of Sunset and Santa Monica Boulevards. At Sunset Junction, residents have access to a multitude of hip, eclectic selections for dining, shopping and nightlife. Due to its ideal central location and walkability, residents enjoy unparalleled access to a wide variety of employment, entertainment and cultural experiences that few other neighborhoods in Los Angeles can match. As part of its recent revitalization, East Hollywood continues to set the bar in terms of being a major employment hub and highly sought after location for a younger, trendier clientele looking for the quintessential urban experience. The area is ripe for continued success in attracting a younger, but more affluent demographic. 850 N. Vermont Avenue enjoys easy access to the major employment hubs of Los Angeles. It is close to the 101 freeway which connects to Downtown and Hollywood. Downtown Los Angeles, Hollywood, and Los Feliz are just moments away. N HELIOTROPE DR N EDGEMONT ST 10 11 DENSELY POPULATED EAST HOLLYWOOD UNIQUE FUNDAMENTALS CREATE A STRONG EAST HOLLYWOOD SIGNALIZED VALUE-ADD OR OWNER-USER OPPORTUNITY SUBMARKET UNDERGOING SIGNIFICANT DEVELOPMENT OPPORTUNITY WITHIN AN CORNER LOCATION EXPANSION OPPORTUNITY ZONE AND A TIER 3 TOC • NE signalized corner of Vermont Avenue and Normal • Nearly 8,600 square feet of existing retail on M2M leases • Average household income north of $60,544 within a one- • High daily traffic counts north of 44,016 vehicles per day Avenue offering immediate upside or owner-user flexibility mile radius • Walker’s paradise with a walk score of 91 out of 100 • Direct access to the 101 Freeway and close proximity to • 12,854 square-feet of land • Over 1,133,727 people within 5 miles Hollywood, K-Town, Silver Lake, DTLA • Significant growth projections with an average population • 15 parking spaces in the rear of the property • More than 26,683 households within 1 mile of the subject age of 37 • Significant redevelopment in the immediate area property • Excellent visibility and frontage along Vermont Avenue • Tier 3 TOC • Excellent visibility and frontage • Home to a mix of local and national retailers, local eateries, • Units average 1,900 SF which are easily leasable with nightlife/entertainment options • Opportunity Zone • Centralized location within close proximity to transit and minimal costs the interstate 101 Ventura Freeway • Situated directly across the street from the entrance to • Walking distance to Vermont/Santa Monica metro station LACC 12 13 PROPERTY HIGHLIGHTS Situated in a QUALIFIED OPPORTUNITY ZONE 850 N. Vermont Avenue, Los Angeles, CA 90029 850 N. Vermont Avenue ADDRESS: Los Angeles, CA 90029 PRICE: $4,200,000 BUILDING SF: 8,588 SF LAND SF: 12,854 SF PRICE/SF (BUILDING): $489 INTEREST OFFERED: PRICE/SF (LAND): $327 100% fee simple interest
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