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Beverly Hot Springs Development Or User Opportunity BEVERLY BLVD OAKWOOD AVE N OXFORD AVE BEVERLY HOT SPRINGS DEVELOPMENT OR USER OPPORTUNITY KIDDER.COM OFFERING MEMORANDUM | 308 N OXFORD AVE | LOS ANGELES, CA TABLE OF 01 OFFERING SUMMARY The Offering Opportunity CONTENTS Property Photos Metro Map 02 MARKET OVERVIEW Koreatown Overview Koreatown Attractions Notable Sites EXCLUSIVELY LISTED BY Accessibility CHARLES DESANTIS JOHNNY CHOI Executive Vice President Vice President 310.996.2232 310.550.2526 [email protected] [email protected] LIC N° 00961029 LIC N° 01705079 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 Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews. 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. Kidder Mathews 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, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews 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. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies. BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 2 01 OFFERING SUMMARY THE OFFERING OPPORTUNITY 1 OPPORTUNITY 2 PROPERTY PHOTOS METRO MAP BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 3 VERMONT AVE VERMONT / BEVERLY 19 MIN WALK THE 1.1 MILE OFFERING OAKWOOD AVE BEVERLY BLVD BEVERLY A generational boutique hot springs spa opportunity in the prime Koreatown submarket of Los Angeles. SUBJECT Kidder Mathews and CBRE are pleased to present PROPERTY the opportunity to acquire 308 N Oxford Ave, a rare owner-user opportunity centrally located in the heart of Koreatown. Both structures, which include the main spa and a newly developed two-story amenity building, N OXFORD AVE shall be delivered vacant upon close of escrow. Totaling approximately 29,142 square feet of land zoned C2-1 and R3-1, the Property is a developer’s N WESTERN AVE dream. Designated as TOC Tier 3 residential, the TOC zoning increases the FAR on the LAC2 portion up to 3.75:1 and the LAR3 portion up to 4.5:1. BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 4 OPPORTUNITY - OWNER-USER $10,400,000 ($744/SF) OFFERING PRICE PROPERTY SUMMARY Site 1 Address 308 N Oxford Ave, Los Angeles, CA BEVERLY BLVD APN 5521-028-021 Building Size ±12,180 SF 2 3 Zoning C2-1 & R3-1 Parcel Size ±18,675 SF Site 2 Address 319-321 N Serrano Ave, Los Angeles, CA 1 APN 5521-028-005 Building Size 0 SF Zoning R3-1 Parcel Size ±5,300 SF N OXFORD AVE Site 3 Address 311 N Serrano Ave, Los Angeles, CA APN 5521-028-003 Building Size ±1,800 SF Zoning C2-1 & R3-1 Parcel Size ±5,167 SF Total Building Size ±13,980 SF Total Lot Size ±29,142 SF BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 6 BEVERLY HOT SPRINGS SPA HOT SPRINGS SPA IN LOS ANGELES Beverly Hot Springs is located in the middle of Los Angeles, California. It is the only natural hot spring found in the city and is extremely popular among people who are seeking a break from the hustle and bustle of city life to relax and also enjoy the benefits of a full-service spa. The city location also makes Beverly Hot Springs extremely accessible for anyone who wants to enjoy the rejuvenating benefits of natural spring water without having to travel outside of the city. HOT POOL The hot springs at Beverly feature one geothermal pool Hot Springs and Spa was established in the that maintains a temperature of between 95 and 105 same year. It has been an oasis in the busy degrees and can easily accommodate several people at city since. the same time. DRIVING DIRECTIONS TO HOT SPRINGS FACILITIES BEVERLY HOT SPRINGS SPA In addition to the rejuvenating mineral spring, Beverly From Downtown Los Angeles: From San Pedro Hot Spring includes a cold pool for all guests to enjoy Street and South Los Angeles Street, travel on and a full-service spa with a wide array of treatments and US- 101 North and drive for approximately services for you to choose from. There is also free on-site 7 minutes. Follow US-101 North to North parking available.. Vermont Avenue for approximately 6 minutes. Take Exit 6A from US-101 North. Follow Beverly Boulevard to North Oxford Drive and HISTORY OF BEVERLY HOT SPRINGS drive for approximately 5 minutes or 1.2 miles Beverly Hot Springs was discovered by drillers seeking and reaching Beverly Hot Springs Spa. to find oil in the late 19th century and supplied water to early residents of Los Angeles before water mains Beverly Hot Springs is located near the corner were installed in the city in 1915. After the mains were of Beverly Blvd and Oxford Avenue. If you’ve established, the water from the well was bottled and sold hit Oakwood or Normandie Avenues you’ve as drinking water. Business however deteriorated after gone just a bit too far.. World War II and production was eventually discontinued. The well was rediscovered of sorts in 1984 and the Beverly BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 7 PROPERTY PHOTOS BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 8 PROPERTY PHOTOS OAKWOOD AVE BEVERLY BLVD N OXFORD AVE BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 9 BURBANK GLENDALE METRO MAP LOS FELIZ WESTERN / HOLLYWOOD VERMONT / SUNSET SILVERLAKE S NORMANDIE AVE WESTERN / MELROSE VERMONT / SANTA MONICA NORMANDIE AVE / BEVERLY VERMONT / BEVERLY WESTERN / BEVERLY SUBJECT PROPERTY BEVERLY BLVD NORMANDIE AVE / 3RD ST S VERMONT AVE W 3RD ST S WESTERN AVE CHAPMAN PLAZA WILSHIRE / VERMONT WILSHIRE / WESTERN WILSHIRE FINANCIAL TOWER WILSHIRE / NORMANDIE WILSHIRE / VERMONT WILSHIRE PARK PLACE PARAMOUNT PLAZA CENTRAL PLAZA KOREATOWN BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 10 02 MARKET OVERVIEW KOREATOWN OVERVIEW KOREATOWN ATTRACTIONS NOTABLE SITES ACCESSIBILITY BEVERLY HOT SPRINGS OFFERING MEMORANDUM KIDDER MATHEWS 13 MARKET OVERVIEW While these legendary spots are no more, today’s K-Town is home to dozens of prized L.A. establishments. For a trendy overnight stay, consider KOREATOWN the Hotel Normandie, a boutique OVERVIEW property built in the 1920s, or The Line Hotel, an industrial-chic hotel which not only has its own design-driven Just south of Hollywood and west shop, Poketo, but also an ’80s-themed Hodong Baekjeong to start. But don’t of Downtown Los Angeles lies bar, Break Room 86, with karaoke miss out on other Korean specialties, 2019 3-MILE Koreatown, a bustling and culturally suites and boozy push-pops. There’s such as the rice-veggie-egg mix of 656,744 EST. POPULATION diverse 3-square-mile neighborhood the art deco masterpiece The Wiltern, a bibimbap (go to Jeon Ju) or hand- that never seems to sleep. Unlike designated historical landmark, which made noodles (try the gook soo the majority of Los Angeles, which lives on as one of the largest, most soup at Ma Dang Gook Soo). You can tends to wrap up a night out by 2 legendary music venues in the city. cool down with one of the many Ice 2010-2020 1-MILE POPULATION GROWTH a.m. (at the latest), Koreatown is Flakes—towering combos of Korean- 11.37% known for its energetic nightlife Koreatown is home to several style shaved ice with ingredients such and for having the city’s largest multilevel shopping malls, such as fresh fruit, milk pudding, cereal, concentration of 24-hour bars, clubs, as KTP, Koreatown Plaza, which red beans, and nuts—at Oakobing. 2010-2020 3-MILE restaurants, and karaoke hotspots. melds upscale boutiques with more 7.96% POPULATION GROWTH standard apparel and cosmetics K-Town is also home to eclectic non- K-Town, as it’s commonly known, shops. Refuel in the food court, a Korean offerings and many hidden has an equally vibrant history as K-Town staple in its own right, with gems. Start your day with a flower- well. Once a hotbed of old-school many of its stalls slinging authentic, infused cold brew and slice of rose 2010-2020 5-MILE POPULATION GROWTH Hollywood glam, the district inexpensive Korean street food. or lavender cake at Bia Coffee. For 5.87% was home to celebrity enclaves, dinner, consider the fusion dishes including the original Brown Derby Even in a foodie city like Los Angeles, and sophisticated cocktails at restaurant, the Cocoanut Grove Koreatown is often heralded as one of Here’s Looking at You, led by former 2020 3-MILE nightclub, and the Ambassador the best and most diverse restaurant Animal chef Jonathan Whitener, 37.00 AVERAGE AGE Hotel, which hosted a half dozen neighborhoods in the city.
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