A Unique Value-Add Covered Land Opportunity to Acquire a Portfolio of Three Separate Parcels Consisting of a 114-Room Motel
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SOUTHERN CALIFORNIA'S PREMIER SALES TEAM 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 A UNIQUE VALUE-ADD COVERED LAND OPPORTUNITY TO ACQUIRE A PORTFOLIO OF THREE SEPARATE PARCELS CONSISTING OF A 114-ROOM MOTEL AND TWO COMMERCIAL SITES IDEALLY SITUATED ON 131,412 SF OF LAND (3.02 ACRES) ADJACENT TO 405 FREEWAY IN NORTH HILLS, CA INVESTMENT ADVISORS: BRANDON MICHAELS STEVEN SCHECHTER Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group Director, National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2793 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #01089464 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com SEAN BRANDT TEAM MEMBERS Investment Associate Ben Brownstein National Retail Group Nicole Cottrell Tel: (818) 212-2653 Dana Liu Fax: (818) 212-2710 Steven Schechter [email protected] Austin Sreden License: CA #01755166 www.BrandonMichaelsGroup.com 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 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 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 Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The 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 MICHAELS 16830 Ventura Blvd. Suite 100, Encino, CA 91436 GROUP www.marcusmillichap.com SOUTHERN CALIFORNIA'S PREMIER SALES TEAM TABLE OF CONTENTS NORTH HILLS PORTFOLIO 01 MOTEL 6 - 15711 ROSCOE BOULEVARD 02 15701 ROSCOE BOULEVARD 03 15725 ROSCOE BOULEVARD 04 COMPARABLES ANALYSIS 05 AREA OVERVIEW 06 SHERMAN OAKS VAN NUYS SEPULVEDA BOULEVARD Burger King SAN DIEGO FWY OVER 430,000 VEHICLES PER DAY 4 ENCINO LAKE BALBOA 15725 ROSCOE 15701 ROSCOE BOULEVARD BOULEVARD 15711 ROSCOE BOULEVARD ROSCOE BOULEVARD OVER 10,000HASKELL VEHICLES AVENUE PER DAY OVER 55,000 VEHICLES PER DAY NORTH HILLS • CA 5 1 15711 ROSCOE BOULEVARD NORTH HILLS PORTFOLIO 15725 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD Motel 6 - 15711 Roscoe Boulevard 15701 Roscoe Boulevard 15725 Roscoe Boulevard Building SF: 29,202 SF Land SF: 73,152 SF (1.82 Acres) Rooms: 114 Building SF: 5,564 SF Land SF: 36,817 SF (0.85 Acres) Building SF: 2,270 SF Land SF: 15,443 SF (0.35 Acres) The properties can be purchased as a portfolio, individually or a combination of the two EXECUTIVE SUMMARY EXECUTIVE The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale the North Hills Portfolio, a three-parcel portfolio consisting of a 114 room motel located at 15711 Roscoe Boulevard, a commercial site consisting of a vacant 5,564 square foot building situated on 36,817 square feet of land located at 15701 Roscoe Boulevard, and a commercial site consisting of a 2,270 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 square foot auto-use building situated on 15,443 square feet of land located at 15725 Roscoe Boulevard in North Hills, CA. A UNIQUE VALUE-ADD COVERED LAND OPPORTUNITY TO ACQUIRE A PORTFOLIO OF The total portfolio offering consists of 37,036 square feet of buildings situated on 131,312 square feet of land THREE SEPARATE PARCELS CONSISTING OF located in a Tier 1 TOC. The commercial sites offer a [Q]C2-1VL zoning and the rear motel parcel offers a mixed- A 114-ROOM MOTEL AND TWO COMMERCIAL zoning of [Q]C2-1VL and R3-1. SITES IDEALLY SITUATED ON 131,412 SF OF LAND (3.02 ACRES) ADJACENT TO 405 FREEWAY The flexibility in the site offers a multitude of potential options in a dense LA County sub-market that has IN NORTH HILLS, CA experienced year over year growth since 2010. TOTAL BUILDING SF TOTAL LAND SF ZONING TOC 37,036 SF 131,412 SF (3.02 ACRES) R3-1/[Q]C2-1VL TIER 1 8 LAKE BALBOA VAN NUYS NORTH HILLS PORTFOLIO 15711 ROSCOE BLVD 15711 ROSCOE ROSCOE BOULEVARD OVER 55,000 VEHICLES PER DAY BLVD 15701 ROSCOE 15725 ROSCOE BOULEVARD OVERSAN 430,000 DIEGOVEHICLES PER FWYDAY 15701 ROSCOE BOULEVARD HASKELL AVENUE OVER 10,000 VEHICLES PER DAY 15725 ROSCOE BLVD 15725 ROSCOE 15711 ROSCOE BOULEVARD Burger King COMPARABLES ANALYSIS COMPARABLES 9 AREA OVERVIEW Van Nuys Airport San Diego 405 Freeway Through SFV Lake Balboa Park This North Hills Portfolio is ideally located along Roscoe Boulevard at the signalized intersection of Roscoe Boulevard and Haskel Avenue. Roscoe Boulevard is a main east/west commercial thoroughfare that spans the entire San Fernando Valley. The subject properties benefit from over 231 feet of frontage along Roscoe Boulevard, excellent LOCATION OVERVIEW LOCATION ingress and egress at the signalized intersection, and outstanding freeway visibility from the Interstate 405 San Diego 15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343 Freeway. Daily traffic counts exceed 45,000 vehicles per day along Roscoe Boulevard and over 430,000 vehicles per day along the 405 freeway. The site’s centralized East San Fernando Valley location is well positioned within one of LA County’s densest sub-markets within close proximity to downtown Los Angeles, the Westside, Warner Center, and EXCELLENT EAST SAN FERNANDO VALLEY LOCATION IDEALLY POSITIONED ALONG all major airports. ROSCOE BOULEVARD IN THE DENSELY North Hills is a community in the East San Fernando Valley within the City of Los Angeles, California. With Northridge POPULATED HIGH-GROWTH SUB-MARKET to the west, Panorama City to the east, Van Nuys to the south, and Granada Hills to the north, this densely populated OF NORTH HILLS, CA sub-market has over 38,000 people and 9,900 households within one mile of the subject properties, over 320,000 people and 92,000 households within three miles, and over 772,000 people and 237,000 households within five miles. The immediate area has undergone significant growth, with an over 6.6% growth in population over the last nine years and additional growth projected over the upcoming five years. The average household income is over $57,000 within one mile, over $70,000 within three miles of the subject properties, and over $79,000 within five miles of the subject properties. The median household income is over $39,000 within one mile and increased to over $50,000 and $58,000 within three and five miles respectively. VAN NUYS AIRPORT LAKE BALBOA PARK SEPULVEDA BASIN CALIFORNIA STATE RECREATION AREA UNIVERSITY, NORTHRIDGE 1.6 MILES FROM SUBJECT PROPERTY 2.9 MILES FROM SUBJECT PROPERTY 3.2 MILES FROM SUBJECT PROPERTY 4.0 MILES FROM SUBJECT PROPERTY 10 NORTH HILLS EAST PANORAMA CITY RAYMER NORTH HILLS PORTFOLIO SEPULVEDA BLVD BLVD 15711 ROSCOE 15701 ROSCOE BLVD 15701 ROSCOE 15711 ROSCOE BOULEVARD Burger King 15725 ROSCOE BOULEVARD 15701 ROSCOE BOULEVARD OVERHASKELL 10,000 VEHICLES AVENUE PER DAY SAN DIEGO FWY BLVD 15725 ROSCOE OVER 430,000 VEHICLES PER DAY COMPARABLES ANALYSIS COMPARABLES ROSCOE BOULEVARD OVER 55,000 VEHICLES PER DAY 11 AREA OVERVIEW 11 SIGNIFICANT VALUE-ADD COVERED LAND 1 OPPORTUNITY Unique value-add covered land opportunity to acquire 3.02 acres of land OVER 55,000 VEHICLES PER DAY ROSCOE BOULEVARD HASKELL AVENUE • with underperforming structures in a dense East San Fernando Valley OVER 10,000 VEHICLES PER DAY location Portfolio presents a multitude of potential options and creates a value- • add proposition for investors looking to re-position well-located