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N. Lake Ave. for SALE

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N. Lake Ave. for SALE FOR SALE 80 - 100 N. Lake Ave. PASADENA, CA 91107 EDWARD MATEVOSIAN STEVE HAYASHI CBRE Coldwell Banker Commercial George Realty Lic. 01358783 Lic. 00814022 + 1 818 823 8967 + 1 626 376 2866 [email protected] [email protected] Affiliated Business Disclosure reference purposes only and are based on Property unless and until written agreement(s) CBRE, Inc. operates within a global family of assumptions relating to the general economy, for the purchase of the Property have been fully companies with many subsidiaries and/or related market conditions, competition and other factors executed, delivered and approved by the Owner and entities (each an “Affiliate”) engaging in a broad beyond the control of the Owner and CBRE, Inc. any conditions to the Owner’s obligations therein range of commercial real estate businesses Therefore, all projections, assumptions and other have been satisfied or waived. By receipt of this including, but not limited to, brokerage services, information provided and made herein are subject Memorandum, you agree that this Memorandum property and facilities management, valuation, to material variation. All references to acreages, and its contents are of a confidential nature, that investment fund management and development. square footages, and other measurements are you will hold and treat it in the strictest confidence At times different Affiliates may represent various approximations. Additional information and an and that you will not disclose this Memorandum clients with competing interests in the same opportunity to inspect the Property will be made or any of its contents to any other entity without transaction. For example, this Memorandum available to interested and qualified prospective the prior written authorization of the Owner or may be received by our Affiliates, including CBRE purchasers. In this Memorandum, certain CBRE, Inc. You also agree that you will not use this Investors, Inc. or Trammell Crow Company. Those, documents, including leases and other materials, Memorandum or any of its contents or other, Affiliates may express an interest in the are described in summary form. These summaries in any manner detrimental to the interest of the property described in this Memorandum (the do not purport to be complete nor necessarily Owner or CBRE, Inc. “Property”) may submit an offer to purchase the accurate descriptions of the full agreements Property and may be the successful bidder for the referenced. Interested parties are expected to If after reviewing this Memorandum, you have no Property. You hereby acknowledge that possibility review all such summaries and other documents of further interest in purchasing the Property, kindly and agree that neither CBRE, Inc. nor any involved whatever nature independently and not rely on the return this Memorandum to CBRE, Inc. Affiliate will have any obligation to disclose to contents of this Memorandum in any manner. you the involvement of any Affiliate in the sale or Disclaimer purchase of the Property. In all instances, however, Neither the Owner or CBRE, Inc, nor any of © 2020 CBRE, Inc. The information contained in this CBRE, Inc. will act in the best interest of the their respective directors, officers, Affiliates or document has been obtained from sources believed client(s) it represents in the transaction described representatives make any representation or reliable. While CBRE, Inc. does not doubt its in this Memorandum and will not act in concert warranty, expressed or implied, as to the accuracy accuracy, CBRE, Inc. has not verified it and makes with or otherwise conduct its business in a way or completeness of this Memorandum or any of its no guarantee, warranty or representation about it. that benefits any Affiliate to the detriment of any contents, and no legal commitment or obligation It is your responsibility to independently confirm other offeror or prospective offeror, but rather shall arise by reason of your receipt of this its accuracy and completeness. Any projections, will conduct its business in a manner consistent Memorandum or use of its contents; and you are opinions, assumptions or estimates used are for with the law and any fiduciary duties owed to the to rely solely on your investigations and inspections example only and do not represent the current or client(s) it represents in the transaction described of the Property in evaluating a possible purchase of future performance of the property. The value of in this Memorandum. the real property. this transaction to you depends on tax and other factors which should be evaluated by your tax, Confidentiality Agreement The Owner expressly reserved the right, at its financial and legal advisors. You and your advisors This is a confidential Memorandum intended sole discretion, to reject any or all expressions of should conduct a careful, independent investigation solely for your limited use and benefit in interest or offers to purchase the Property, and/or of the property to determine to your satisfaction determining whether you desire to express further to terminate discussions with any entity at any time the suitability of the property for your needs. interest in the acquisition of the Property. This with or without notice which may arise as a result of Memorandum contains selected information review of this Memorandum. The Owner shall have pertaining to the Property and does not purport no legal commitment or obligation to any entity to be a representation of the state of affairs of reviewing this Memorandum or making an offer the Property or the owner of the Property (the to purchase the Property unless and until written “Owner”), to be all-inclusive or to contain all agreement(s) for the purchase of the Property or part of the information which prospective have been fully executed, delivered and approved investors may require to evaluate a purchase by the Owner and any conditions to the Owner’s of real property. All financial projections and obligations therein have been satisfied or waived. information are provided for general 80 & 100 N. Lake Ave. 2 01 Property Overview The property consists of ±21,326 SF of Land per title. Property There are various city easements. Usable square footage to be verified by any potential purchaser. Seller makes no Overview representations as to what the usable square footage is. 80 N. LAKE AVE. PASADENA, CA 91101 APN: 5738-008-034 N.100 Lake Ave. Building Area: ±5,997 SF* Lot Area: ±15,566 SF* N.80 Lake Ave. Year Built: 1946 Zoning: PSC- 100 N. LAKE AVE. PASADENA, CA 91101 APN: 5738-008-033 Building Area: ±5,905 SF* Lot Area: ±5,760 SF* Year Built: 1946 Zoning: PSC- PURCHASE PRICE: $8,500,000 *Per Assessor’s Office 80 & 100 N. Lake Ave. 4 Aerial Map 80 N.100 Lake Ave. N. Lake Ave. Great corner location only a short walk away from the Lake Gold Line Station. S. LAKE AVE. 80 & 100 N. Lake Ave. 5 Property Property is within the Alcohol Density Overlay district, Overview which has requirements regarding public notice and seperation requirements. DEVELOPMENT POTENTIAL (WITH TOC OR DB) 80 N. Lake Ave. MAXIMUM FAR N/A EXISTING CONDITIONS MAXIMUM HEIGHT N/A FLOOR AREA 5,997 SF STORIES N/A UNITS 0 MINIMUM SETBACKS N/A YEAR CONSTRUCTED 1946 MAX BUILDABLE AREA, FOOTPRINT N/A ASSESSED IMPROVEMENT VALUE $624,240 MAX BUILDABLE AREA, ENVELOPE N/A ASSESSED LAND VALUE $3,329,280 MAX DWELLING UNITS No residential use permitted DEVELOPMENT POTENTIAL (BY-RIGHT) AFFORDABLE UNITS REQUIRED N/A MAXIMUM FAR 3:1 PARKING REQUIRED N/A Feet: 75 ft. - 75 ft. max height, 90 ft. max MAXIMUM HEIGHT height if untilizing height averaging TRANSITIONAL HEIGHT LIMITATIONS N/A MINIMUM SETBACKS None REQUIRED OPEN SPACE N/A JURISDICTIONAL MAX BUILDABLE AREA, FOOTPRINT 15,750 sq. ft. Lot 2, Farris and Lyman’s Sub of Lots 32 MAX BUILDABLE AREA, ENVELOPE 47,250 sq. ft. LEGAL DESCRIPTION and 33 of Lands of the Mutual Orchard MAX DWELLING UNITS No residential use permitted Co San Pascual Tract AFFORDABLE UNITS REQUIRED None LAND USE Commercial See Chapter 17.46 for minimum parking RESTRICTIONS PARKING REQUIRED required per use RENT STABILIZATION ORDINANCE N/A Long Term: If non-residential FA exceeds COMMUNITY DESIGN OVERLAY N/A 15,000 sq. ft., required bicycle parking will be 5% of vehicle parking HISTORIC PRESERVATION OVERLAY N/A REQUIRED BICYCLE PARKING Short Term: If non-residential FA exceeds SPECIFIC PLAN N/A 15,000 sq. ft., required bicycle parking will be 5% of vehicle parking Q/T CONDITIONS N/A TRANSITIONAL HEIGHT LIMITATIONS None Required D LIMITATIONS N/A 30% of net floor area (per Urban Housing COASTAL ZONE N/A REQUIRED OPEN SPACE requirements) COMMUNITY REDEVELOPMENT AGENCY N/A Housing is prohibited along Lake Avenue OPPORTUNITY ZONE No OTHER DEVELOPMENT NOTES from Green Street north to the 210 Freeway. 80 & 100 N. Lake Ave. 6 Property Property is subject to the requirements of the Overview Central District Specific Plan, which could limit the development potential of the site. DEVELOPMENT POTENTIAL (WITH TOC OR DB) 100 N. Lake Ave. MAXIMUM FAR N/A EXISTING CONDITIONS MAXIMUM HEIGHT N/A FLOOR AREA 5,905 SF STORIES N/A UNITS 0 MINIMUM SETBACKS N/A YEAR CONSTRUCTED 1968 MAX BUILDABLE AREA, FOOTPRINT N/A ASSESSED IMPROVEMENT VALUE $520,000 MAX BUILDABLE AREA, ENVELOPE N/A ASSESSED LAND VALUE $1,248,480 MAX DWELLING UNITS No residential uses DEVELOPMENT POTENTIAL (BY-RIGHT) AFFORDABLE UNITS REQUIRED N/A MAXIMUM FAR 3:1 PARKING REQUIRED N/A Feet: 75 ft. - 90 ft. max building height if MAXIMUM HEIGHT utilizing height averaging TRANSITIONAL HEIGHT LIMITATIONS N/A MINIMUM SETBACKS None REQUIRED OPEN SPACE N/A JURISDICTIONAL MAX BUILDABLE AREA, FOOTPRINT 5,761 SF Arris and Lyman’s sub of Lots 32 and 33 MAX BUILDABLE AREA, ENVELOPE 17,283 SF of lands of the mutual orchard co San MAX DWELLING UNITS No Residential Uses LEGAL DESCRIPTION Pascual Tract Lot Com W on S line of Lot 1, 50 ft.
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