Offering Memorandum 1015–1025 East 16th Street Los Angeles, CA 90021
LA PRODUCTION STUDIOS NON-ENDORSEMENT AND DISCLAIMER NOTICE
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Disclaimer THIS IS AN OFFERING MEMORANDUM COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
LA PRODUCTION STUDIOS Los Angeles, CA ACT ID Y0140645 CONTENTS
1 Investment Overview
2 Market Comparables
3 Market Overview
1
INVESTMENT OVERVIEW Executive Summary
PROPERTY OVERVIEW
Marcus & Millichap is pleased to present this exceptional 12,384 square foot • State-of-the-Art Film/Music/Dance Studio Film Production / Dance Studio property featuring one of the largest special- Located in the Heart of Downtown Los ized dance floors available in Los Angeles. This charming brick building is fully Angeles: Walking Distance to the Arts District renovated with state-of-the-art lighting, audio equipment, modern offices, new kitchen and bathrooms. Additionally, there is a changing area with lockers and • Approximately 12,384-Square Foot Building shower facilities. This is an ideal studio for dance, music, and film production. Renovated in 2010 • This asset is located in the heart of Downtown Los Angeles and is walking dis- Secure on-site parking for up to 6 cars. tance from the famous Arts District. A large enclosed patio provides comfortable • Corner Lot of Approximately 14,022 Square outside lounging and high ceilings and roll-up doors make loading convenient. Feet – Excellent Visibility – M2 Zoning There is easy access to the 5, 10, 101, and 110 Freeways. This property is a LA PRODUCTION STUDIOS corner lot of approximately 14,022 square feet with excellent visibility and high • Two Large Dance Floors (4,900 Square Feet traffic counts. There is an ample amount of street parking that is available.LOCAL MAP and 2,800 Square Feet) • Brick Building Built in 1932 with Bow Truss Ceilings and Two Roll-Up Doors
• Lighting Grids Across the Ceiling and Ultra-High Qual-ity Sound System
• Power Supply: 800a, 120-240v, 3p 4w
• Fully Renovated Offices, Conference Room, Kitchen, Bathrooms, Separate Locker Rooms and Shower Areas
• Easy Access to the 5, 10, 101, and 110 Freeways
• Current Owner Invested Over $1 Million in Capital Improvements
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7 Investment Overview // 7 8 \\ LA Production Studios State-of-the-Art Dance/ Film Studio
LA Production Studio offers many advantages including: exposed brick walls, beau-tiful bow truss ceilings, a superior sound system, grid lighting across the ceilings, heavy power supply with 800 amps/240-480 volts, two large dance floors (4,900 square feet and 2,800 square feet), built-in offices and conference room, full kitchen, locker/change rooms, male and female bathrooms and showers, fenced patio that can also be used to park vehicles and more. The property has high visibility from its corner location and the roof can be easily seen from the 10 Freeway.
This unique studio was originally designed to film a pilot TV Show that featured dancers performing in front of judges, and later was a site where Michael Jackson was scheduled to rehearse for his “This Is It” tour. The studio has one of the largest permanent dance stages in Los Angeles and it features an open and versatile floorplan that can be easily modified to accommodate alternative uses such as offices and creative loft space or even manufacturing. There is convenient access the I-10, I-110 and I-5 freeways, and two large grade level roll-up doors for loading.
Investment Overview // 9 Excellent Downtown LA Location
Downtown Los Angeles is currently undergoing a renaissance period and is experiencing its largest construction boom in modern times. This explosive growth is fueled by a combination of several factors including: foreign invest-ment, relatively abundant lending sources, pent up demand for new properties following a time of low construction activity, historically low interest rates, and an improving economy. Despite all the cranes poking up into the skyline, Los Ange-les County remains significantly under-supplied for housing and industrial space is in short supply as developers have taken old warehouses and converted them to alternative uses such parking garages, retail properties, or residential housing.
Numerous new projects are coming on-line near LA Production Studio. “The Reef” is just south of the 10 Freeway in downtown and is scheduled to be built as two high-rise towers with over 1,000 apartments or condo units, an outdoor plaza, public gardens, farmers’ market, grocery store, pharmacy, restaurants, and more. This single project will add over 1 million square feet of commercial space on 9.7 acres of land.
City Market is another enormous development that is within proximity of LA Production Studio. This mega-project will extend from Ninth to Twelfth streets between San Pedro and San Julian Streets. There are plans for 945 new res-idential units (some of which will be inside a new 38 story tower), a 210-room Business Class Hotel, more than 200,000 square feet of ground floor retail space, creative office space, and a campus for a creative arts college including greenways.
10 \\ LA Production Studios The Reef Rending
City Market Rendering
The Film Industry in Los Angeles
In early 1910, director D.W. Griffith was sent by the American Mutoscope and Biograph Company to the West Coast with his acting troop consisting of actors Blanche Sweet, Lillian Gish, Mary Pickford, and Lionel Barrymore, among others. They started filming on a vacant lot near Georgia Street in downtown Los Angeles. The company decided while there to explore new territories, traveling several miles north to a little village that was friendly and enjoyed the movie company filming there. This place was called "Hollywood." Griffith then filmed the first movie ever shot in Hollywood, In Old California (1910), a melodrama about California in the 1800s, while it was still part of Mexico. (Source: http://www.newworldencyclopedia.org/ entry/Film_industry_(United_States))
The first motion picture studio was built in 1919, in Edendale, just east of Hollywood, by Selig Polyscope Company, and the first one built in Hollywood was founded by filmmaker David Horsley's general manager Al Christie in 1911, in an old building on the southeast corner of Sunset Boulevard and Gower Street. From these humble beginnings California’s motion picture industry grew faster and larger than anyone could have imagined.
Today California is the worldwide leader in production (thanks in large part to tele- vision) with over $30 Billion of annual production spending. LA County alone has an employment base of approximately 160,000 entertainment industry workers and approximately 13,000 employers. The entertainment industry ranks third largest in LA County. California has added many new digital media and similar jobs. Several local colleges and universities support the film, broadcast, animation, and music industries with strong academic programs, most notable are: Cal Arts, American Film Institute, Loyola Marymount, USC, and UCLA.
Investment Overview // 13 LA PRODUCTION STUDIOS
REGIONAL MAP Regional Map
6 14 \\ LA Production Studios LA PRODUCTION STUDIOS
LOCAL MAP Local Map
7 Investment Overview // 15 Floor Plan
16 \\ LA Production Studios Ceiling & Lighting Plan
Investment Overview // 17 Nearby Projects
1 Metropolis 15 1600 Figueroa 2 Olympia 16 888 South Hope 3 Apex II 17 Cambria Hotel 4 Shenzhen Hazens Tower 18 820 Olive 5 Olympic Tower 19 1300 Figueroa 6 Oceanwide Plaza 20 Mack Urban Tower 7 1233 Grand 21 1400 Figueroa 8 1133 Hope 22 1364 Hill Street 9 913 Figueroa 23 Hope Street Hotel Project 10 1212 Flower 24 1344 Flower Street 11 Circa 25 1400 Flower Street 12 1323 Grand 26 Morrison Hotel 13 Los Angeles Convention Center 27 Emerald 14 Fig+Pico
18 \\ LA Production Studios LA PRODUCTION STUDIOS LA PRODUCTION STUDIOS 8 SALES COMPARABLES MAP
LA PRODUCTION STUDIOS (SUBJECT)
1 1375 E 15th Street
2 771 East 9th Street Investment Overview // 19
3 The Fortress
4 937 E 10th St
5 960-962 E 12th St
6 1920 E Olympic Blvd
7 1128 S Flower St
8 Bookbinders Company
9 235 W 31st St
10 1531 Paloma St
11 1365-1367 E 16th St
12 1801 S Olive St
13 12th Street Plaza
14 1800 S Grand Ave
15 1201 S Santa Fe Ave
16 1354 E 15th St
SALES COMPARABLES ON MARKET COMPARABLES
11
2
MARKET COMPARABLES LA PRODUCTION STUDIOS
8 SALES COMPARABLES MAP LA PRODUCTION STUDIOS LA PRODUCTION STUDIOS LA PRODUCTION(SUBJECT) STUDIOS Market Comparables Map 8 SALES COMPARABLES MAP 1 1375 E 15th Street LA PRODUCTION STUDIOS 8 2 771 East(SUBJECT) 9th Street SALES COMPARABLES MAP
3 LA1 ThePRODUCTION1375 Fortress E 15th STUDIOS Street
2 771 East 9th Street 14 1375937 E E 10th 15th St Street 3 The Fortress 25 771960 -East962 E9th 12th Street St 4 937 E 10th St 36 The1920 Fortress E Olympic Blvd 5 960-962 E 12th St 74 9371128 E S10th Flower St St 6 1920 E Olympic Blvd 85 960Bookbinders-962 E 12th Company St 7 1128 S Flower St 96 1920235 W E 31stOlympic St Blvd 8 Bookbinders Company 107 11281531 PalomaS Flower St St 9 235 W 31st St 118 Bookbinders1365-1367 E Company16th St 10 1531 Paloma St 129 2351801 W S 31st Olive St St 11 1365-1367 E 16th St 13 12th Street Plaza 10 1215311801 Paloma S Olive St St 14 1800 S Grand Ave 11 13136512th-1367 Street E 16thPlaza St
1215 14180112011800 S SantaOliveS Grand St Fe Ave Ave
1316 1512th13541201 StreetE 15thS Santa Plaza St Fe Ave
14 1618001354 S GrandE 15th AveSt
15 1201 S Santa Fe Ave
16 1354 E 15th St
SALES COMPARABLES ON MARKET COMPARABLES SALES COMPARABLES ON MARKET COMPARABLES
11 SALES COMPARABLES 11 ON MARKET COMPARABLES 22 \\ LA Production Studios
11 Market Comparables
PROPERTYLA PRODUCTION NAME STUDIOS PROPERTYLA PRODUCTION NAME STUDIOS SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG ON MARKET COMPARABLES ON MARKET COMPS AVG ON MARKET COMPARABLES ON MARKET COMPS AVG
Average PriceAverage Per Square Price Per Foot Square Foot
$700.00 $700.00 $630.00 $630.00 $560.00 Avg. $481.61 $560.00 $490.00 Avg. $481.61 $490.00 $420.00 Avg. $475.57
$420.00 $350.00 Avg. $475.57
$280.00 $350.00
$210.00 $280.00 $140.00 $210.00 $70.00 $140.00 $0.00 Los Angeles 1375 E 15th 771 East The 937 960-962 E 1920 E 1128 S Bookbinders 235 1531 1365-1367 1801 S 12th Street 1800 S 1201 1354 $70.00 Production Street 9th Street Fortress E 10th St 12th St Olympic Flower St Company W 31st St Paloma St E 16th St Olive St Plaza Grand Ave S Santa E 15th St Studios Blvd Fe Ave $0.00 Los Angeles 1375 E 15th 771 East The 937 960-962 E 1920 E 1128 S Bookbinders 235 1531 1365-1367 1801 S 12th Street 1800 S 1201 1354 Production Street 9th Street Fortress E 10th St 12th St Olympic Flower St Company W 31st St Paloma St E 16th St Olive St Plaza Grand Ave S Santa E 15th St Studios Blvd Fe Ave
12
Market Comparables // 23 12 Market Comparables
SALES COMPARABLES
LA PRODUCTION STUDIOS
8 SALES COMPARABLES MAP 1 2 LA PRODUCTION STUDIOS (SUBJECT)
1 1375LA E 15th PRODUCTION Street STUDIOS 1375 EAST 15TH STREET 771 EAST 9TH STREET LOS ANGELES, CA 90021 LOS ANGELES, CA 90021 LOS ANGELES, CA 90021 2 771 East 9th Street
3 The Fortress
4 937 EAsking 10th St Price UNPRICED Close of Escrow 3/31/2017 Close of Escrow 6/28/2016 Price/SF Days on Market 140 Sales Price $3,250,000 5 960-962 E 12th St $0 Year Built 1932 Sales Price $4,160,000 Rentable SF 9,114 6 1920 E Olympic Blvd Occupancy 0% Rentable SF 12,000 Price/SF $356.59 7 1128Power S Flower St 800a 120-240v 3p 4w Price/SF $346.67 Year Built 1981 8 BookbindersClear HeightCompany 18' Year Built 1968 Occupancy 100%
9 235 WPercentage 31st St of Office 0.00% Parking Ratio 1.00 / 1,000 SF Parking Ratio 1.00 / 1,000 SF
10 1531 Paloma St Power 400a/240v Percentage of Office 21.00%
11 1365-1367 E 16th St NOTES NOTES 12 1801 S Olive St 12,000 SF Industrial Warehouse with air conditioning, fenced Corner multi-use, modern block building features 9-car park- 13 12th Street Plaza parking for 12 vehicles. and 400a/240v power supply. Buyer ing lot. Two blocks east of San Pedro. Property has heating 14 1800 S Grand Ave was an owner-user. and air conditioning.
15 1201 S Santa Fe Ave
16 1354 E 15th St 24 \\ LA Production Studios
SALES COMPARABLES ON MARKET COMPARABLES
11 Market Comparables
SALES COMPARABLES
3 4 5
THE FORTRESS 937 EAST 10TH STREET 960–962 EAST 12TH STREET 2135 BAY STREET, LOS ANGELES, CA 90021 LOS ANGELES, CA 90021 LOS ANGELES, CA 90021
Close of Escrow 6/5/2017 Close of Escrow 11/8/2016 Close of Escrow 8/7/2017 Sales Price $3,500,000 Sales Price $13,800,000 Sales Price $4,650,000 Rentable SF 5,600 Rentable SF 32,600 Rentable SF 8,282 Price/SF $625.00 Price/SF $423.31 Price/SF $561.46 Year Built 1913 Year Built 1968 Year Built 1968 Power 400a/240v Parking Ratio 0.36 / 1,000 SF Occupancy 100%
NOTES NOTES NOTES Music Recording Studio / Industrial Warehouse sold to an Multi-Property Sale included two Industrial Properties (937 E Showroom property built in 1968. Multi-tenant building with owner-user who plans to use the property for photography 10th Street and 940 Stanford Ave). Buyer plans to redevelop. retail clothing tenants. and event space. 5,600 sq. ft. building renovated in 2014.
Market Comparables // 25 Market Comparables
SALES COMPARABLES
6 7 8
1920 OLYMPIC BOULEVARD 1128 SOUTH FLOWER STREET BOOKBINDERS COMPANY LOS ANGELES, CA 90021 LOS ANGELES, CA 90015 1240 SOUTH HOPE STREET, LOS ANGELES, CA 90015
Close of Escrow 7/25/2016 Close of Escrow 8/17/2017 Close of Escrow 12/30/2016 Sales Price $4,000,000 Sales Price $4,050,000 Sales Price $8,711,048 Rentable SF 8,438 Rentable SF 9,492 Rentable SF 15,000 Price/SF $474.05 Price/SF $426.68 Price/SF $580.74 Year Built 1965 Year Built 1915 Year Built 1918 Occupancy 100% Power 200a/240v Clear Height 20' Clear Height 13' Percentage of Office 13.00% NOTES NOTES Parties to this transaction did not wish to disclose details of This subject was part of a portfolio of three properties that the transaction. Buyer is a local investor who owns several NOTES sold, including 1220, 1224, and 1240 S Hope Street. The properties in the greater downtown area. buyer is a developer. Class "C" Industrial Building built in 1915. The property was sold to an owner-user.
26 \\ LA Production Studios Market Comparables
SALES COMPARABLES ON MARKET COMPARABLES
9 10 11
235 WEST 31ST STREET 1531 PALOMA STREET 1365–1367 EAST 16TH STREET 2135 BAY STREET, LOS ANGELES, CA 90007 LOS ANGELES, CA 90021 LOS ANGELES, CA 90021
Close of Escrow 1/7/2016 On Market On Market Sales Price $2,700,000 List Price $2,300,000 List Price $4,500,000 Rentable SF 5,000 Rentable SF 5,088 Rentable SF 10,434 Price/SF $540.00 Price/SF $452.04 Price/SF $431.28 Year Built 1957 Year Built 1965 Year Built 1965 Parking Ratio 2.00 / 1,000 SF Parking Ratio 0.59 / 1,000 SF Parking Ratio 1.74 / 1,000 SF Power 100a/240v 3p 4w Power 120-240v 1p 3w Percentage of Office 12.00% Clear Height 16' NOTES Percentage of Office 11.00% Manufacturing Building with one drive-in 9' (w) x 9' (h). NOTES Masonry construction. Fenced parking area for three vehicles. This was a 1031 Exchange for both the Buyer and Seller. The NOTES property was sold "as-is" and was reported to be in average Industrial Warehouse with 4 dock-high loading doors. Sprin- condition. klered building with 2,000 SF of office space. Concrete tilt-up construction. Large lot size of 0.62 Acre provides parking for 18 vehicles. Market Comparables // 27 Market Comparables
ON MARKET COMPARABLES
12 13 14
1801 OLIVE STREET 12TH STREET PLAZA 1800 SOUTH GRAND AVENUE LOS ANGELES, CA 90015 1141 EAST 12TH STREET, LOS ANGELES, CA 90021 LOS ANGELES, CA 90015
On Market On Market On Market List Price $3,750,000 List Price $9,400,000 List Price $5,250,000 Rentable SF 11,427 Rentable SF 1976 Rentable SF 11,728 Price/SF $328.17 Price/SF $475.71 Price/SF $447.65 Year Built 1948 Year Built 1967 Year Built 1922 Occupancy 100% Parking Ratio 1 Occupancy 100% Divisible 4 Units Clear Height 24'0" Clear Height 18' Percentage of Office 50.00% Percentage of Office 15.00%
NOTES NOTES NOTES 1922 Brick Warehouse at the southernmost end of the South Two story Retail / Creative Loft space, divided into 4 units. This property is also known as 12th Street Plaza. This ware- Park neighborhood. This is an owner-user building and the CRA Development Area with contract parking available. house property has ready to issue permits for 16 retail stores seller will vacate upon sale. Existing tenants are month-to-month. and a parking lot area.
28 \\ LA Production Studios Market Comparables
ON MARKET COMPARABLES
15 16
1201 SOUTH SANTA FE AVENUE 1354 EAST 16TH STREET LOS ANGELES, CA 90021 LOS ANGELES, CA 90021
On Market On Market List Price $11,800,000 List Price $2,800,000 Rentable SF 19,020 Rentable SF 4,880 Price/SF $620.40 Price/SF $573.77 Year Built 1923 Year Built 1971 Parking Ratio 0.83 / 1,000 SF Power 400a NOTES Clear Height 15' 1201 South Santa Fe is a brick masonry building with wood bow trusses with a ceiling height of 14 feet at the edges, and pitches to approximately 23 feet in the center. 2348 East 8th Street has a minimum clearance height of 16 feet and a flat NOTES roof. Gated parking for four vehicles. Single tenant building with masonry construction. Located in LA's Central Industrial district.
Market Comparables // 29
3
MARKET OVERVIEW LA PRODUCTION STUDIOS
Market Overview MARKET OVERVIEW GREATER DOWNTOWN LOS ANGELES OVERVIEW
Greater Downtown Los Angeles consists of the Downtown, Mid-Wilshire and Hollywood submarkets. Continued revitalization of the market will METRO HIGHLIGHTS boost population gains. The population base of 817,000 people will expand as more than 12,000 citizens are added over the next five years, DOWNTOWN RENAISSANCE filling new residential projects. Downtown houses numerous The downtown area is undergoing a major renaissance due to the light rail and corporations, retail and entertainment venues that draw commuters into mixed-use projects such as L.A. Live attracting businesses and residents. the city daily. RAPID HOUSEHOLD GROWTH Household formation will increase briskly during the next five years at a level above the national rate.
ROBUST HEALTH SECTOR Healthcare provides a large number of jobs in the downtown area, employing thousands of workers and supported by public healthcare initiatives.
ECONOMY
. Major employers in the market include Farmers Insurance, Kaiser Permanente, Paramount Pictures, Deloitte, Ernst & Young, University of Southern California and Transamerica Insurance. . Building conversions and mixed-use developments that include housing are bringing residents back into the area. Young, urban professionals desiring shorter commutes and downsizing households seeking to live near amenities are absorbing these units. . A well-educated population provides companies with a skilled workforce. Roughly 37 percent of people age 25 and older hold a bachelor’s degree; among those residents, 11 percent also have earned a graduate or professional degree. DEMOGRAPHICS
2016 2016 2016 2016 MEDIAN POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME: 817K 348K 36.1 $39,300 Growth Growth U.S. Median: U.S. Median: 2016-2021*: 2016-2021*: 1.5% 3.1% 37.7 $57,200
* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
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32 \\ LA Production Studios LAPROPERTY PRODUCTIONNAME STUDIOS
Demographics MARKETINGDEMOGRAPHICS TEAM Created on July 2017
POPULATION 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles . 2021 Projection . 2016 Estimate Total Population 29,865 486,688 1,338,345 $200,000 or More 1.21% 1.69% 1.88% . 2016 Estimate $150,000 - $199,000 1.50% 1.40% 1.75% Total Population 29,721 475,224 1,320,899 $100,000 - $149,000 3.13% 4.72% 6.00% . 2010 Census $75,000 - $99,999 4.72% 5.39% 7.14% Total Population 28,122 453,174 1,271,074 $50,000 - $74,999 12.16% 11.76% 14.53% . 2000 Census $35,000 - $49,999 14.38% 12.75% 14.39% Total Population 29,398 435,058 1,262,462 $25,000 - $34,999 15.91% 12.47% 13.23% . Daytime Population $15,000 - $24,999 18.82% 19.34% 17.59% 2016 Estimate 60,128 676,593 1,303,682 Under $15,000 28.18% 30.47% 23.48% HOUSEHOLDS 1 Miles 3 Miles 5 Miles Average Household Income $40,022 $42,583 $48,759 . 2021 Projection Median Household Income $26,745 $25,129 $31,682 Total Households 7,539 147,985 406,125 Per Capita Income $10,926 $13,784 $15,133 . 2016 Estimate POPULATION PROFILE 1 Miles 3 Miles 5 Miles Total Households 7,439 140,901 395,776 . Population By Age Average (Mean) Household Size 3.70 3.11 3.20 2016 Estimate Total Population 29,721 475,224 1,320,899 . 2010 Census Under 20 32.80% 28.12% 28.40% Total Households 6,991 132,748 377,308 20 to 34 Years 26.61% 30.12% 27.30% . 2000 Census 35 to 39 Years 8.07% 7.52% 7.52% Total Households 6,865 117,944 359,233 40 to 49 Years 13.65% 12.76% 13.30% 50 to 64 Years 12.93% 13.33% 14.66% Age 65+ 5.93% 8.16% 8.83% Median Age 29.62 30.32 31.61 . Population 25+ by Education Level 2016 Estimate Population Age 25+ 17,399 288,790 823,828 Elementary (0-8) 33.28% 25.93% 22.74% Some High School (9-11) 19.55% 17.04% 15.68% High School Graduate (12) 17.65% 20.50% 21.44% Some College (13-15) 11.62% 11.99% 14.15% Associate Degree Only 2.59% 3.65% 4.27% Bachelors Degree Only 6.45% 9.95% 11.85% Graduate Degree 1.36% 3.82% 4.07% . Time Travel to Work Average Travel Time in Minutes 31 34 34
Source: © 2016 Experian
21 Market Overview // 33 DemographicsPROPERTYLA PRODUCTION NAME STUDIOS MARKETINGDEMOGRAPHICS TEAM
Population Race and Ethnicity In 2016, the population in your selected geography is 29,721. The The current year racial makeup of your selected area is as follows: population has changed by 1.10% since 2000. It is estimated that the 34.19% White, 8.39% Black, 0.06% Native American and 1.71% population in your area will be 29,865.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: represents a change of 0.48% from the current year. The current 70.77% White, 12.80% Black, 0.19% Native American and 5.36% population is 52.30% male and 47.70% female. The median age of Asian/Pacific Islander. People of Hispanic origin are counted the population in your area is 29.62, compare this to the US average independently of race. which is 37.68. The population density in your area is 9,459.20 people per square mile. People of Hispanic origin make up 87.30% of the current year population in your selected area. Compare this to the US average of 17.65%.
Households Housing There are currently 7,439 households in your selected geography. The The median housing value in your area was $339,973 in 2016, number of households has changed by 8.36% since 2000. It is compare this to the US average of $187,181. In 2000, there were estimated that the number of households in your area will be 7,539 1,231 owner occupied housing units in your area and there were five years from now, which represents a change of 1.34% from the 5,633 renter occupied housing units in your area. The median rent at current year. The average household size in your area is 3.70 persons. the time was $464.
Income Employment In 2016, the median household income for your selected geography is In 2016, there are 42,990 employees in your selected area, this is also $26,745, compare this to the US average which is currently $54,505. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 16.68% 29.53% of employees are employed in white-collar occupations in since 2000. It is estimated that the median household income in your this geography, and 70.01% are employed in blue-collar occupations. area will be $29,581 five years from now, which represents a change In 2016, unemployment in this area is 5.80%. In 2000, the average of 10.60% from the current year. time traveled to work was 31.00 minutes.
The current year per capita income in your area is $10,926, compare this to the US average, which is $29,962. The current year average household income in your area is $40,022, compare this to the US average which is $78,425.
Source: © 2016 Experian
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34 \\ LA Production Studios Market Overview // 35 Presented By Einar Roden Associate 515 S. Flower St., Ste. 500 Los Angeles, CA 90071 (213) 628-4500 [email protected]
Stanley Wang Associate 515 S. Flower St., Ste. 500 Los Angeles, CA 90071 (586) 668-1114 [email protected]
LA PRODUCTION STUDIOS