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6302 N Beck Ave & 11505 Sylvan St | North Hollywood, CA

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CLICK HERE TO VIEW VIDEO 6302 N BECK AVE & 11505 SYLVAN ST NORTH HOLLYWOOD, CA OFFERING MEMORANDUM EXCLUSIVELY LISTED BY DANIEL WITHERS Senior Vice President & Senior Director DIRECT +1 (818) 923-6107 MOBILE +1 (310) 365-5054 [email protected] Lic No. 01325901 (CA) | 2 TABLE OF CONTENTS 04 PROPERTY OVERVIEW 12 AREA OVERVIEW 28 FINANCIAL OVERVIEW 3 | PROPERTY OVERVIEW | 4 THE OPPORTUNITY Matthews Real Estate Investment Services™ is pleased to offer 6302 N Beck Avenue, an 11-unit multifamily building comprised of two and three-bedroom units, and 11505 Sylvan Street, three- bedroom single-family home in North Hollywood, CA. Property is not subject to Los Angeles rent control. 6302 N BECK AVE & 11505 SYLVAN ST Built in 2020, the properties showcase contemporary finishes NORTH HOLLYWOOD, CA including vinyl plank flooring, stainless steel microwaves and stoves, and modern kitchens and bathrooms. The apartment units are individually metered for gas and electric and master-metered for water. The single-family home operates on electric only. 6302 N Beck offers secure gated parking with 24 stalls and the 11505 ADDRESS NUMBER OF UNITS Sylvan Street features a two-car garage. 6302 N Beck Ave & 11505 Sylvan St 12 North Hollywood, CA 91606 Located in the heart of North Hollywood, the property is just minutes away from the NOHO Arts District offering tenants access to contemporary theaters, art galleries, cafes, nightlife, art classes, PROPERTY BUILDING SF and shopping. The property’s proximity to the 170/Hollywood Non-Rent Control ± 15,311 SF Freeway provides easy access to surrounding neighborhoods in Los Angeles as well as the 101 & 134 Freeways. Public transportation options include the North Hollywood Metro Station – Red Line YEAR BUILT LOT SIZE which connects the property to the rest of the San Fernando Valley, 2020 ± 0.49 AC Hollywood, Downtown Los Angeles, and Union Station. **11505 Sylvan St –Owner has taken steps with the City of Los Angeles to complete a lot split which would open up the door for Single Family Residence to be sold individually at a later date. In order to get lot split finalized requires paying Recreation and Park fees. Buyer to confirm with City Planner at (818) 374-5051.** 5 | 6302 N BECK AVE 11505 SYLVAN ST | 6 7 | | 8 BURBANK VICTORY/ TUJUNGA 164 11505 SYLVAN ST NORTH HOLLYWOOD, CA 6302 BECK AVE NORTH HOLLYWOOD, CA 9 | CALIFORNIACALIFORNIA 6302 BECK AVE NORTH HOLLYWOOD, CA 11505 SYLVAN ST | 10 NORTH HOLLYWOOD, CA NOHO ARTS DISTRICT 11505 SYLVAN ST NORTH HOLLYWOOD, CA 6302 BECK AVE NORTH HOLLYWOOD, CA 11 | AREA OVERVIEW | 12 NORTH HOLLYWOOD, CALIFORNIA North Hollywood is a neighborhood in the east San Fernando Valley region of the city business legends in their own right. Among those who make NoHo their home are: of Los Angeles. It is home to the NoHo Arts District and the Academy of Television Universal Studios Hollywood, Universal Studios & Music, The Walt Disney Company, Arts & Sciences, and it has seven public and eight private schools. Once a gritty Warner Brothers, DreamWorks SKG, NBC, Litton Industries, Boeing-Rocketdyne suburb, North Hollywood has transformed into the Valley’s go-to cultural hub over Propulsion, and Power, Countrywide Credit, Academy of Television Arts & Sciences, the last decade with an influx of dance studios, art galleries, and acting workshops— Nestle USA, Nickelodeon Animation Studios, CBS Studio Center, Pinkerton, and and still no shortage of strip malls. Wellpoint Health Networks. NoHo’s highly educated workforce, well-developed infrastructure, hospitable climate, business-friendly municipal governments, and For generations, the San Fernando Valley has been the home of legends. Bob Hope, strategic position along the Pacific Rim have combined to facilitate the establishment Ron Howard, Gene Autry, Sally Field, Clark Gable, John Wayne, Tom Selleck, and of more than 50,000 small businesses. countless others have called the Valley, home. Today, corporate stars have become DEMOGRAPHICS POPULATION 1-MILE 3-MILE 5-MILE 2025 Projection 43,521 306,479 648,076 2020 Estimate 42,848 299,406 632,860 2010 Census 42,275 289,086 610,769 Growth: 2020 to 2025 1.57% 2.36% 2.40% Growth: 2010 to 2020 1.35% 3.57% 3.62% HOUSEHOLDS 1-MILE 3-MILE 5-MILE 2025 Projection 14,201 113,681 238,003 2020 Estimate 13,937 110,666 232,055 2010 Census 13,642 105,979 223,368 Growth: 2020 to 2025 1.89% 2.72% 2.56% Growth: 2010 to 2020 2.16% 4.42% 3.89% INCOME 1-MILE 3-MILE 5-MILE 2020 Avg. $68,885 $95,077 $102,935 Household Income 13 | NOHO ARTS DISTRICT The NoHo Arts District is a community in North Hollywood, Los Angeles, California, that is home to contemporary theaters, art galleries, cafes, and shops. The community is generally bounded by Hatteras Street to the north, Cahuenga Blvd to the east, Tujunga Ave to the west, and Camarillo Street to the south. The area features more than twenty professional theaters, producing new work and classics, diverse art galleries, public art, and professional dance studios. The district also features the largest concentration of music recording venues west of the Mississippi. A Metro Rail station is located here, the North Hollywood station of the Red Line, and serves as the terminus of the Metro Orange Line busway. Business and theater owners in the Universal City/North Hollywood Chamber of Commerce established a theater and arts district in 1992 with support from the Los Angeles Department of Cultural Affairs. They chose “NoHo”, a play off the well-known SoHo Arts District neighborhood of New York City. Today, The NoHo Arts District, in conjunction with greater North Hollywood, is being transformed into a regional center, in large part as a result of the construction of Metro Stations for the Red Line and the Orange Line, two lines that have made the neighborhood into a regional hub for the San Fernando Valley. Medium- and high-density developments are being built around the Metro Station, making the Arts District a center of citywide development, with the intent of creating a walkable urban village. North Hollywood’s landscape (and the Art’s District as a result) has been transformed in recent years, with condominium towers (including a fifteen-story building on Lankershim Boulevard being built in the midst of older one-story bungalows and small apartment complexes. NOHO GROWTH The theater district includes two new large venues that expand upon existing theaters, the newly redesigned NoHo Arts Center (formerly the American Renegade Theatre) and the redesigned Historical El Portal. They add to the existing 31 theaters located in and around the NoHo Arts District. NoHo Commons, developed by J.H. Snyder Company, is located near the NoHo Arts District’s commercial core and subway station. The $100-million, 292-unit loft apartment project by Snyder was the first segment to be completed of NoHo Commons, part of a “transit village” taking form at the terminus of the Metro Red Line subway and the Orange Line busway. The NoHo Commons construction and development consisted of three phases, complete with the construction of a Laemmle Theatre. Phase III also consisted of the construction of an eight-story office on the corner of Lankershim and Weddington in 2009. The building’s primary tenant is currently the Art Institute of California-Hollywood. NoHo 14, a 180-unit, fourteen-story apartment building, was built in 2004 as one of the first large-scale developments in the neighborhood. Currently, the NoHo Arts District, in conjunction with the Community Redevelopment Agency-Los Angeles, is working on beautification efforts to make the area more appealing to businesses. The current focus is primarily on revamping storefronts on Lankershim Blvd and Magnolia Blvd with Burbank Blvd to follow. North Hollywood plans a mixed-use development at Lankershim and Chandler, surrounding the Metro Red and Orange line terminals. The projects would re-develop 15.6 acres with 1,720,000 square feet of commercial and residential space. The first would be a smaller development with 750 residential units, 40,500 square feet of retail space, and 200,000 square feet of offices. The second would include 1,500 units of housing, 150,000 square feet of retail, and 450,000 square feet of offices (and 5,400 parking spaces). | 14 NOHO WEST A transformation is underway for this new mixed-use lifestyle center at the current Macy’s site on Laurel Canyon Boulevard at Oxnard Street in North Hollywood. The redevelopment will repurpose the existing Macy’s building to serve office and retail uses, and incorporate a walkable main street retail concept and amenity-rich residential apartments. The design for the site layout weaves the new development into the existing fabric of the neighborhood to include SALE FOUR BLOCKS OF SHOPS, RESTAURANTS AND OFFICES shopping, working and leisure that compliments the active and contemporary NOHO West community. NOHO West will offer expanded retail shopping opportunities around a large open-air plaza, an office building, new residences, and abundant public open spaces. The retail main street may include a mix of regional retailers, restaurants, and cafes, a specialty market and cinema. This anticipated mix of uses will create MIX OF LOCAL AND NATIONAL RETAILERS a unique opportunity to live, work and shop in a walkable, vibrant setting. A STATE-OF-THE-ART, MULTI-SCREEN MOVIE THEATER WITH FULL-SERVICE DINING AND RESERVED SEATING OFFICE SPACE OCCUPYING THE RENOVATED MACY’S BUILDING NOHO WEST SITE PLAN AMENITY-RICH RESIDENTIAL APARTMENT UNITS The proposed site plan is organized around the new central plaza and retail- lined main street connecting Oxnard Street to Laurel Canyon Boulevard, parallel to the freeway. New office space in the renovated Macy’s building and the second story theatre over Building D front the plaza and activate the main street.
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