Rare Assemblage in Hollywood Media District 13,415 SF of R3-Zoned Land Potential New Small Lot SFR or Apartment/Condo Project
TAMARIND AVE
LEXINGTON AVE
N BRONSON AVE
EXCLUSIVE OFFERING MEMORANDUM *PLEASE DO NOT DISTURB THE TENANTS* The THE HOFFMAN COMPANY BROKER CONTACT Hoffman SOUTHERN CALIFORNIA OFFICE CA BRE #01473762 Bryant Brislin, CA BRE #01877964 ompany C 714.814.5624 | [email protected] C 18881 Von Karman Avenue, Suite 150 T 949.553.2020 | F 949.553.8449
Land Brokers Irvine, California 92612 www.hoffmanland.com Nick Giannini, CA BRE #01849360 Realty Advisors C 949.378.1200 | [email protected] DISCLAIMER
The information contained in this offering material (“Brochure”) is furnished solely for the purpose of a review by prospective purchaser of any portion of the subject property in the City of Los Angeles, County of Los Angeles, California (“Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of Scheel Dallape Inc. d/b/a The Hoffman Company Organization (“The Hoffman Company”). The material is based in part upon information obtained by The Hoffman Company from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Seller, The Hoffman Company, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspec- tions, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.
This Brochure was prepared by The Hoffman Company. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation.
In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.
This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by The Hoffman Company or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Seller and The Hoffman Company expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or to ter- minate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any condi- tions to Seller’s obligations there under have been satisfied or waived. The Hoffman Company is not authorized to make any representations or agreements on behalf of Seller.
This Brochure is the Property of The Hoffman Company and may be used only by parties approved by The Hoffman Company. The Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to The Hoffman Company immediately upon request of The Hoffman Company or Seller and (ii) that this Bro- chure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of The Hoffman Company and Seller.
Please be advised, Buyer acknowledges that The Hoffman Company Organization, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting The Hoffman Company to submit an offer on its behalf acknowl- edges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers.
The terms and conditions set forth above apply to this Brochure in its entirety. TABLE OF CONTENTS
1 Property Overview 4
2 Aerials, Maps & Photos 5-8
3 Area Overview 9-19
4 Market Overview 20-21 PROPERTY OVERVIEW 1
Site Detail
Located within the heart of the Hollywood Media District, this rare assemblage (two, separately-owned parcels) of +/- 13,415 sf or R3 zoned land is an exciting de- veloper opportunity. These parcels are ripe for a builder to develop either small lot single family homes, apartments or condos. This is located within a short walking distance to Sunset Gower Studios, Emerson College, Nickelodeon Studios, and the huge, soon-to-open Columbia Square creative office campus with Viacom as the anchor tenant. Savy builders will sell or rent these units fast to entertainment types and other young professionals who are migrating to this easterly part of Hol- lywood. Future renters/homeowners can walk one block to the south to enjoy the immensely popular outdoor movie screenings at Hollywood Forever.
A developer can potentially do a project of 10-12 single family/SLO residences or up to 21 units in a multifamily scenario.
Address APN Acreage SF Broker Contact 1205 North Bronson Avenue 5534-009-011 0.15 6,709 Bryant Brislin 1209 North Bronson Avenue 5534-009-010 0.15 6,706 C 714.814.5624 Total 0.30 13,415 [email protected] CA BRE #01877964 Area/Municipality 1205 North Bronson: Unoccupied Duplex Hollywood (City of Los Angeles) 1209 North Bronson: Duplex with each unit rented out. Nick Giannini Total Income: $4,266.67/month C 949.705.0930 Zoning [email protected] R3-1 Listing Price CA BRE #01849360 $2,600,000 GP Designation The Hoffman Company Medium Residential Desired Terms 18881 Von Karman Avenue, Suite 150 30-45 Day Escrow. Inspection subject to accepted offer Irvine, CA 92612 Council District only T 949.553.2020 CD 13 – Mitch O’Farrell F 949.553.8449 www.hoffmanland.com Neighborhood Council CA BRE #01473762 Hollywood Studio District
*PLEASE DO NOT DISTURB THE TENANTS*
The Exclusive Offering Memorandum 4 Hollywood Media District | LOS ANGELES Hoffman Company AERIALS, MAPS & PHOTOS 2
Close Up Aerial TAMARIND AVE N BRONSON AVE
1209 N Bronson
1205 N Bronson
LEXINGTON AVE
The Exclusive Offering Memorandum 5 Hollywood Media District | LOS ANGELES Hoffman Company AERIALS, MAPS & PHOTOS 2
Assessor’s Parcel Map
1209 N Bronson
1205 N Bronson
The Exclusive Offering Memorandum 6 Hollywood Media District | LOS ANGELES Hoffman Company AERIALS, MAPS & PHOTOS 2
Zimas Zoning Map
SITE
The Exclusive Offering Memorandum 7 Hollywood Media District | LOS ANGELES Hoffman Company AERIALS, MAPS & PHOTOS 2
Property Photos
1205 N Bronson 1209 N Bronson 1209 N Bronson
Southwesterly view from North Bronson Avenue Westerly view from North Bronson Avenue
1205 N Bronson 1205 N Bronson 1209 N Bronson 1205 N Bronson
Northwesterly view from North Bronson Avenue Westerly view from North Bronson Avenue Directly in front of 1205 N Bronson Ave (MLS Photo)
The Exclusive Offering Memorandum 8 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Area Retail Map
HOLLYWOOD & 101 TheHIGHLAND CENTER The The Hoffman Hoffman Hoffman LOS FELIZ BLVD Company Company Company
FRANKLIN AVE
Large Retail Center Under Construction HOLLYWOOD BLVD HOLLYWOOD BLVD FLAGSHIP STORE Frozen yogurt station, sushi bar, coffee bar, juice bar, wine shop with a humidor and a virtual bartender kiosk. SUNSET BLVD SUNSET AVE
THE The The FOUNTAIN AVE
Under Hoffman BLVDN CAHUENGA Construction
N HIGHALND AVE SUBJECT SITE Hoffman AVEN WESTERN Hoffman N LA BREA AVE N NORMANDIE SANTA MONICA BLVD
Company VINE ST ompany ompany N C C
The Exclusive Offering Memorandum 9 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Proximity to Nearby Colleges & Educational Facilities
The The 101
Hoffman HoffmanHOLLYWOOD BLVD Company Company
The SUNSET BLVD Hoffman Company FOUNTAIN AVE
he he SUBJECT SITE T N CAHUENGA BLVD T
N HIGHALND AVE Upscale Private School N LA BREA AVE N GOWER ST HOFFMAN HoffmanSANTA MONICA BLVD
N Company Company
The Exclusive Offering Memorandum 10 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Public Transit
LOS FELIZ BLVD
1.5 Hollywood/Highland Hollywood/Western Miles Metrolink Metrolink 101
Sunset/Vermont M HOLLYWOOD BLVD M 1 Metrolink N WESTERN AVEN WESTERN Mile
N HIGHALND AVE SUNSET AVE M VERMONT AVE FOUNTAIN AVE N LA BREA AVE BLVDN CAHUENGA VINE ST GOWER ST N NORMANDIE N VIRGIL AVE
SUBJECT SITE
SANTA MONICA BLVD N
The Exclusive Offering Memorandum 11 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Active/Future Multi-Family Projects TH: Townhome | M/U: Mixed Use | SLO: Small Lot Ordinance (Single Family Detached) | Aff: Affordable | Apts: Apartments | Comm: Commercial
The The The
1,014 Apts; 28 live/ Hoffman Hoffman N work; 175K Retail Hoffman CA H U E LOS FELIZ BLVD N
G
Indigo Hotel 225 Apts A
B
Company 100 Rooms C+ RetailompanyL Company V
D
79 Apts 120 Aff. Sr. 6K Retail 300 Apts HOLLYWOOD BLVD New Apts + Retail M Future 40SF M Retail Center 280 Apts + 248 Apts (Under Construction) 12k Retail + Retail SUNSET BLVD 40 Un Aff. Metropolitan 39 New Apts Hollywood M 76 Apts Crossroads 79 Units Future of the World: (Under Construction) FOUNTAIN AVE Future 30 Story 200 Apts Condo Tower, 187 Units + Comm/Office 370 Apts + Retail Future 32 Story m/u Project 70K Retail Apt Tower & SUBJECT SITE 150 Un SANTA MONICA BLVD Future 5 Star
THE Hotel M 22 New The 7 Story Apt Bldg The Coming Soon 2 New Resi-Towers Units + 184 Units + Retail/Comm 101 Retail 166 Apts + Retail 13K Retail Hoffman Hoffman Hoffman
MELROSE AVE VINE ST ompany 85 Apts +
C Company Retail Company N M FAIRFAX AVE FAIRFAX MARTEL AVE LA BREA AVE HIGHLAND AVE AVE ROSSMORE BLVD LARCHMONT WESTERN AVE N NORMANDIE
The Exclusive Offering Memorandum 12 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Area Points of Interest
The The The Hoffman Hoffman Hoffman Company Company Company
N CAHUENGA BLVD
101
HOLLYWOOD BLVD
SUNSET AVE THE The The NEWLY COMPLETED FOUNTAIN AVE Hoffman offman offman
H AVEN WESTERN H N HIGHALND AVE N LA BREA AVE N NORMANDIE SUBJECT SITE VERMONT AVE N VIRGIL AVE
Company SANTA MONICA BLVD
VINE ST Company Company N
The Exclusive Offering Memorandum 13 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Studio Proximity Map
The The The Hoffman Hoffman Hoffman
Company 3 Company Company Miles
Future 14 Story Tower in Planning Stages
2 Miles
he he1 he T T Mile T Hoffman Hoffman Hoffman SUBJECT SITE
Company Company Company N
The Exclusive Offering Memorandum 14 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
New Creative Office Proximity – Hollywood Media District
FORMOSA SOUTH AT THE LOT 1601 VINE
The The The COLUMBIA SQUARE Under Construction H5 Story/95koffman sf Office Bldg Hoffman Hoffman FUTURE TENANTS Company Company Company Under Construction Future 8-story Office Bldg + Retail Two New Office Buildings, 33k SF Retail Renovated Historic LA BREA/ROMAINE HOLLYWOOD 959 Structures, Apts.
[ Anchor Tenant ]
SUBJECT SITE 5901 SUNSET The The The
Under Construction – Bldg Refurbishment (33k sf Office+11.5k Retail) + One New Under Construction ACADEMY SITE HBldgoffman (8.6k sf Retail) Two Office Bldgs (5 Stories) Hoffman Hoffman Company Company Company
Future Mixed-Use Campus Future Mixed Use
for creative media compa- 274k Office Space + N nies: 300k sf Offices, 220 26k Ground Floor Commercial Apts & 15k sf Retail
The Exclusive Offering Memorandum 15 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Park Proximity
134 GRIFFITH PARK, consisting of 4,210 acres of parkland and natural open space, is the larg- est municipal134 park with urban wilderness area in the United States.
The The TRecreationhe • Jogging • Picknicking • Biking • Camping • Hiking • Sports: Tennis, Soccer, Hoffman Hoffman H• Horsebackoffman Riding Swimming, Golf Amenities • Griffith Observatory • Autry National Cen- • Greek (outdoor) ter/ Museum 5 Griffith Park Theatre • L.A. Equestrian Center • L.A. Zoo • Travel Town (Railroad Company Company C• Naturalompany Open Space Museum) Lake Hollywood Park
ELYSIAN PARK is the oldest park in the City of Los Angeles. At 600 acres, it is also the City’s second largest park.
Recreation • Jogging • Biking • Hiking Runyon Canyon LAKE HOLLYWOOD PARK • Picknicking • Natural Open Space “Best Dog Park in LA” • Sports: Tennis, Baseball, Golf, Basketball
101
THE 2 SUBJECTT heSITE The
RUNYON CANYON PARK 160H acres offman 110 Hoffman HElysian Parkoffman Company Company Company
The Exclusive Offering Memorandum 16 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Area Attractions Map: Greater Los Angeles
POINTS OF INTEREST
170 1 LAX The 27 The 28 101 2 USC Hoffman Hoffman 210 3 UCLA SHERMAN 14 ompanyOAKS ompany C 405 C 4 LA Live/Nokia Center 22 13 27 The The 5 Staples Center Griffith Park 26 offman offman 6 LA Convention Center H 20 & Observatory H Company18 Company 7 Walt Disney Concert Hall The The 8 LAC + USC Medical Center 19 21 Hoffman Hoffman 9 Chinatown/Olvera Street SUBJECT SITE ELYSIAN PARK 10 Dodger Stadium Company 101 Company5 11 11 16 he he Elysian Park BEVERLY HILLS T 10 T 12 Exposition Park 3 23 Hoffman17 Hoffman 24 8 13 Griffith Park/Griffith Observatory 9 10 Company 7 Company 14 LA Zoo The The4 5 15 Santa Monica Pier Hoffman 6HoffmanLOS SANTA MONICA 10 ANGELES 16 Getty Museum 60 Olvera Street Company 2 Company 17 LACMA The The 18 Hollywood Bowl 15 12 Hoffman Hoffman 19 Dolby Theater 20 Greek Theater CompanyEXPOSITION PARK Company TheSANTA MONICA PIER The 21 Pantages Theatre Hoffman Hoffman 22 Universal Studios Company Company 23 Rodeo Drive 24 UCLA Medical Center The ChinatownThe 25 NOHO Arts District Hoffman Hoffman 710 26 Hungtingon Library & Gardens 405 LAX AIRPORT 110 1 Company Company 27 California Institue of Technology
The Exclusive Offering Memorandum 17 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Los Angeles Info & Demographics
City Info Income (2010) Population (2013) Median Household Income $49,745 State: California Total: 100,097 County: Los Angeles Rank in County: 5th Mayor: Eric Garcetti Rank in State: 66th Climate Average Temperature Incorporated: April 4, 1850 MedianAge: 33.4 January high 68.2º, low 47.8º Website: www.lacity.org Average Household Size: 3.15 LOS ANGELES July high 83.1º, low 63.6º Average Family Size: 3.46 Nicknames: “L.A”, “City of Angels” Average Rainfall 14.93 inches
The Exclusive Offering Memorandum 18 Hollywood Media District | LOS ANGELES Hoffman Company AREA OVERVIEW 3
Area Schools Exhibit
W SUNSET BLVD
FOUNTAIN AVE
VINE STREET E.S. VINE ST
SANTA MONICA BLVD 101
2 JOSEPH LE CONTE M.S. N GOWER ST BERNSTEIN H.S. HOLLYWOOD PRIMARY CENTER
3 4 1 SUBJECT SITE
BRONSON AVE
N VAN NESS AVE N
N WILTON PL
1 Hollywood Primary Center (K-3) 2 Vine Street Elementary (4-6) 3 Joseph Le Conte Middle School (7-8) 4 Helen Bernstein Senior High School (9-12) 1115 Tamarind Ave 955 N Vine St 1316 N Bronson Ave, 1309 N Wilton Pl Los Angeles, CA 90038 Los Angeles, CA 90038 Hollywood, CA 90028 Hollywood, CA 90028 3-Year Weighted Avg. API: 760 3-Year Weighter Avg. API: 746 2013 Growth API: 765 2013 Growth API: 637
The Exclusive Offering Memorandum 19 Hollywood Media District | LOS ANGELES Hoffman Company MARKET OVERVIEW 4
New Home Comparable Projects
he THE GATSBY he 2775T CAHUENGA T NOW SELLING GRAMERCY 29 TWENTY Hoffman Hoffman COMING SOON NOW SELLING CLOSING OUT Company Company The The 15 SLO Hoffman Hoffman 42 SLO Company Company The The 33 THs 32 SLO Hoffman Hoffman ROW 3 SL-70 Company Company SOLD OUT SUBJECT SITE NOW SELLING The The Hoffman LATITUDES Hoffman Company NOW SELLING Company The The 19 SLO 70 SLO Hoffman Hoffman Company Company THE COLONY The The SOLD OUT 63 THs Hoffman HoffmanMORTON VILLAGE FOUNTAIN+GOWER Company 5112 MELROSE Company NOW SELLING The COMING SOON The CLOSING OUT Hoffman Hoffman
C10 ompanySLO (Phase 2) Company P. JosephThe Homes The 15 SLO+3 Rehabbed Bungalows 11H SLOoffman Hoffman 47 SLO Company Company
The Exclusive Offering Memorandum 20 Hollywood Media District | LOS ANGELES Hoffman Company MARKET OVERVIEW 4
New Home Comparable Projects | Price to Size Graph Price-to-Size Graph
$1,500,000 The The Hoffman Hoffman $1,400,000 Company Company he he $1,300,000 T T Hoffman Hoffman $1,200,000 Company Company The The Hoffman Hoffman $1,100,000 Company Company he he $1,000,000 T T Hoffman Hoffman Price $900,000 Company Company The The Hoffman Hoffman $800,000 Company Company he he $700,000 T T Hoffman Hoffman $600,000 Company Company The The Hoffman Hoffman $500,000 1,000 Company 1,500 Company2,000 2,500 The SF The Hoffman Hoffman Gramercy 5112 Melrose 2775 Cahuenga Gatsby SL-70 Latitudes Morton Row3 Colony SUBJECT Company Company
The Exclusive Offering Memorandum 21 Hollywood Media District | LOS ANGELES Hoffman Company THE HOFFMAN COMPANY www.hoffmanland.com The Hoffman SOUTHERN CALIFORNIA OFFICE COACHELLA VALLEY OFFICE NORTHERN CALIFORNIA OFFICE NEVADA OFFICE Company 18881 Von Karman Avenue, Suite 150 777 E Tahquitz Way, Suite 200 2121 North California Blvd., Suite 290 3753 Howard Hughes Parkway, Suite 200 Irvine, California 92612 Palm Springs, California 92262 Walnut Creek, California 94596 Las Vegas, Nevada 89169 Land Brokers T 949.553.2020 | F 949.553.8449 T 760.969.7357 | F 949.553.8449 T 925.478.8429 F 949.553.8449 T 702.784.7680 | F 949.553.8449 Realty Advisors