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W E S T 1 4 T H S T R E WEST 14TH STRE ET South Park Development Opportunity South Park Development Opportunity CONFIDENTIALITY AND DISCLAIMER The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements presented by: and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look Anthony Ying Jay No to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, Senior Retail & Multifamily Investment Advisor Retail Investment Advisor for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. 949.558.0305 949.558.0311 [email protected] [email protected] This Marketing Brochure is a solicitation o f interest only and is not an offer to sell the Property. The Owner expressly DRE #02052345 DRE #02052695 reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real In association with: Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser PACIFIC PARTNERS should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase REAL ESTATE INVESTMENTS & Agreement shall bind the property and each prospective purchaser proceeds at its own risk. Aram Garikian Martin D. Agnew Ryan R-Serling Zac Freehling Associate First Vice President Investments Senior Associate Director 2 3 INVESTMENT OVERVIEW South Park Development Opportunity Development Summary SVN Vanguard, in conjunction with Marcus & Millichap and Pacific Partners, is pleased to present 208 W 14th St, 212-216 W 14th St , 1404 S Olive St, and 1410 S Olive St. This rare, block-to-block, mixed use development opportunity is located at the corner of W 14th St and South Olive St, in the center of the South Park neighborhood of Downtown Los Angeles. The site comprises 0.66 acres and falls within the Greater Downtown Housing Incentive Area, which excludes it from conventional C2 density calculations. The site also falls under the City of Los Angeles Transit Priority Area, Transit Oriented Communities (Tier 3), State Opportunity Zone, and the Los Angeles State Enterprise Zone. The City Center, South Park Neighborhood is encouraged to be a predominantly residential, mixed-use gateway. The subject property is located directly across the street from Jade Enterprises’ proposed 154-unit, mixed use “Emerald” development, and is just blocks away from the Los Angeles Convention and Staples Centers. Numerous other developments surround the site, illustrating the bloom of residential projects in the neighborhood. Furthermore, the population in the immediate area is also becoming increasingly more dense. Stronger demographics and an influx of capital from around the world have created a 208 & 212-216 W 14TH ST wonderful opportunity for a developer/investor to capitalize on the potential of 1404 & 1410 S OLIVE ST this promising pocket of Downtown Los Angeles. Los Angeles, CA 90007 • Located in an Opportunity Zone • With a Potential FAR Of 6:1*, this Development has the Ability to be Over 200,000 Suggested Asking Price: Request for Offer Buildable SF: 28,747 (0.65 acres) Buildable Square Feet Zoning: C2-2D-O • Massive Growth in the Immediate Area – South Park is One of the Most Densely FAR: 6:1 APN’s: 5134-024-001 Developed Areas in Los Angeles’ Recent History 5134-024-006 • Over 20 New & Proposed Mixed-Use Communities within Blocks – with Units Totaling in 5134-024-008 5134-024-010 the Thousands 5134-024-013 • Site is Located Directly Across the Street from Jade Enterprises’ “Emerald” Project • Three of the Nine Proposed Downtown Venues for the 2024 Olympics are Located in the Heart of South Park, Only Blocks Away * See Page 14 for details about FAR 6 7 Site Overview Site Plan •T otal Number of Buildings: 4 1410 S Olive St S Hill St •T otal Rentable Building Area: 40,999 SF Property Summary •T otal Lot Size: 28,747 SF (0.65 Acres) • Rentable Building Area: 10,519 SF • First Floor: 7,352 SF •APN’s: • Second Floor: 3,166 SF 5134-024-001 • Office (included in 10,519): 4,379 SF 5134-024-006 • Mezzanine (not included in 10,519): 3,050 SF 5134-024-008 • Year Built: 1992 5134-024-010 • Lot Size: 13,941 SF ( 0.33 Acres) 5134-024-013 Site Description • Power: 400A/ 120-240V/ 3 Phase W 14th St W 15th St • Warehouse Clear Height: 18’ •Zoning: C2-2D-O Commercial Zoning • Loading: 2 Ground Level Drive In Doors • Parking: 16 Secured Spaces 208 W 14th St Parcel •APN’s: Property Summary 5134-024-008 • Rentable Building Area: 23,280 SF 5134-024-013 • Units: 60 Studios • Zoning: C2-2D-O Commercial Zoning •Year Built: 1914 •Lot Size: 6,323 SF (0.14 acres) Parcel •APN: 5134-024-001 1404 S Olive St •Zoning: C2-2D-0 Commercial Zoning Property Summary • Rentable Building Area: 1,200 212-216 W 14th St SF • Year Built: 1961 Property Summary • Lot Size: 2,407 SF ( 0.06 Acres) • Rentable Building Area: 6,000 SF Site Description • Year Built: 1928 • Parking: 5 Secured • Lot Size: 6,076 SF (0.14 Acres) Spaces Site Description Parcel • Power: 100A/ 240V/ 1 Phase • APN: 5134-024-010 • Clear Height: 14’ • Zoning: C2-2D-O Commercial Zoning S Olive St • Loading: 3 Storefront Roll-Up Doors Parcel • APN: 5134-024-006 • Zoning: C2-2D-O Commercial Zoning 8 9 Quali ied Opportunity Zone Details CANNABIS The federal tax bill passed at the end of December 2017 allows the Governor to designate certain census tracts as Opportunity Zones. Investments made by individuals through special SUBJECT funds in these zones would be allowed to defer or eliminate federal taxes on capital gains. ORDINANCES If a property or business is purchased within a qualified Opportunity Zone and held for a minimum of 5 years, there is a 10% reduction in the capital gains tax; if held for 7 years, the Under California law, adults 21 or older can reduction jumps to 15%; but the biggest benefit comes after holding the asset for at least 10 use, carry, and grow cannabis. Buying cannabis PROPERTY ELIGIBILITY years - the reduction remains at 15% but there is also a ZERO tax on appreciation of aquired (without a valid physician’s recommendation or property. Additionally, when an asset is purchased in these opportunity zones the Investor county-issued medical marijuana identification Cultivation* must invest back into the developement of the property, at least as much or more capital than card) became legal under California law for Type 1A | Type 1C | Type 2A | Type 3A | Type 4 | Type 5 the purchase price. adults 21 or older on January 1, 2018. Use of Indoor Cultivation: Businesses that grow cannabis medicinal cannabis is legal under California law if you have a valid physician’s recommendation Manufacturer 1 & 2* or a valid county-issued medical marijuana Type 6 & 7 identification card. To buy medicinal cannabis, Level 1 Manufacturing: Businesses that produce cannabis products using you must be 18 or older and have either a valid nonvolatile solvents, or no solvents Level 2 Manufacturing: Businesses that produce cannabis products W 14th Street physician’s recommendation, a valid-county using volatile solvents issued medical marijuana identification card or be a Primary Caregiver as defined by the Testing* Health and Safety Code, with a valid physician’s Type 8 recommendation for the patient.
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