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N. Mathews Street 318 N. MATHEWS STREET BOYLE HEIGHTS, CALIFORNIA DEVELOPMENT OPPORTUNITY OFFERING MEMORANDUM 318 N. MATHEWS STREET BOYLE HEIGHTS, LOS ANGELES, CALIFORNIA 90033 For further information contact: DARIO SVIDLER 310.500.3301 [email protected] License 01884474 Pacific Union Commercial and Pacific Union International do not guarantee the accuracy of estimates, square footages, lot size, government approvals, government conditions, government allowances, construction feasibility, construction concepts, construction plans, construction progress, inspections, investigations, reports or other information concerning the condition or features of the property, project or possible projects provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with appropriately licensed professionals and city officials. All pro-formas, possibilities, projections, assumptions, concepts, construction plans, studies, estimates, etc. are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property is to rely on their own pro-formas, projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are shown for illustrative purposes and not necessarily meant to be an actual depiction of what can be built. | Svidler License 01884474. 318 N. MATHEWS STREET TABLE OF CONTENTS 4 .............................................................. ABOUT DARIO 6 ............................................................ THE OFFERING 7 ............................................ PROPERTY OVERVIEW 8 .................................................. PROPERTY PHOTOS 12 ............................................... POINTS OF INTEREST 15 ................................................................................ MAPS 16 ................................... AREA/MARKET OVERVIEW 17 .................................................... METRO GOLD LINE 18 ............................................................... WALK SCORE 19 ............................... AREA JOBS - ARTS DISTRICT 20 ............................................................ ZIMAS REPORT 22 ........................................................... ASSESSOR MAP PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 3 318 N. MATHEWS STREET Dario Svidler Executive Vice President & Regional Director Commercial Division, Pacific Union License 01884474 I grew up with Real Estate all around me. My father, a Structural Engineer and practicing General Contractor, and my mother, an Architect, have been bringing me to their job sites since I was born. I have experienced all facets of the Construction and Real Estate Businesses, ranging from Commercial and Industrial to all types of Residential. As a Real Estate Salesperson, I have sold in excess of $200 million in Real Estate and am well on my way to doubling that number. My talent in finding Value-Add Properties have made me an indispensable asset to a select group of Clients and Investors looking to add higher-yielding properties to their portfolio. I am a member of the Real Estate and Construction Division of the Jewish Federation and an alumnus of the American Jewish University. PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 4 318 N. MATHEWS STREET A COMMITMENT TO YOU WHAT WE ARE. First, and foremost, Pacific Union is a California-based real estate brokerage that leverages our global network, media savvy and command of the market to provide our clients with a discreet and peerless level of real estate services. We are a select group of the finest, principled and reputable agents in the market. We are distinguished in the marketplace by our emphatic sales volume, and reputed for our integrity, market intelligence and a genuine connection to our communities. We are proud of these accomplishments. We work diligently everyday to maintain them. This is what we are. WHO WE ARE. What a company is should be driven by who they are at the core and what they believe in that drives them to do what they do. In this regard, Pacific Union is a group of professionals that believe in the sanctity of real estate ownership and the inalienable right everyone has to own real estate. To support our beliefs, we create optimum conditions required to provide the deepest level of regard, respect, care, empathy, commitment and services possible to buyers, sellers, our associates and our competitors. We are people who care about the lives, the careers, the families, the financial securities and the peace of mind for everyone we touch. PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 5 318 N. MATHEWS STREET THE OFFERING BOYLE HEIGHTS DEVELOPMENT OPPORTUNITY Presented for sale is 318 N. Mathews St. in the improving and gentrifying Los Angeles City neighborhood of Boyle Heights. This vacant 3,077sf duplex is prime for redevelopment due to it’s large 8,545sf R3-1 lot surrounded on three sides by two alleys and the street. While an 11 unit by-right development is doable, encouraged is a fully Transit Oriented Communities development utilizing it’s Tier 3 TOC density bonus. Build approximately 20 units (2 low income) and have as little parking on site as 10 spots. Potential for on-grade construction makes this a perfect development play for someone that understands the Boyle Heights market and sees the potential in this burgeoning market. Two Blocks from the Metro Gold Line Station. PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 6 318 N. MATHEWS STREET PROPERTY OVERVIEW 318 N. Mathews St., Boyle Heights, Los Angeles, CA PRICE $1,075,000 CURRENT USE Vacant Duplex Building 1 946 Sq. Ft. Building 2 2,131 Sq. Ft. LOT SIZE 8,546.5 Sq. Ft. ZONING R3-1-CUGU TOC Tier 3 ALLEYS On Side & on Back APN 5180-008-010 PROPERTY HIGHLIGHTS • Build to a +7% CAP with sub $3 psf rents and $250 psf construction costs • Price per buildable-door on market-rate units w/TOC is sub $60K • Area Rents have strong upward mobility with little to no new construction • Owner will entertain all reasonable offers but none with • TOC incentives in the Tier 3 zone include 70% density bonus, reduced entitlement timelines setbacks and extra height • 0.3 Miles from the Soto Gold Line Metro Station Buyer and Buyer’s Representative to rely solely on their own research and investigations. This information is provided as a courtesy. PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 7 318 PROPERTY PHOTOS N. MATHEWS STREET PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 8 318 PROPERTY PHOTOS N. MATHEWS STREET PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 9 318 PROPERTY PHOTOS N. MATHEWS STREET PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 10 318 PROPERTY PHOTOS N. MATHEWS STREET PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 11 318 POINTS OF INTEREST N. MATHEWS STREET 318 Mathews St. PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 12 318 POINTS OF INTEREST N. MATHEWS STREET PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 13 318 POINTS OF INTEREST N. MATHEWS STREET PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 14 318 MAPS N. MATHEWS STREET PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 15 318 N. MATHEWS STREET AREA/MARKET OVERVIEW BOYLE HEIGHTS The neighborhood of Boyle Heights has long been known as a bustling, if somewhat insular, Latino enclave in Eastside Los Angeles. But the arrival of the city’s light rail system in 2009 changed all that. It made Boyle Heights more accessible to outsiders, and since then, a wave of gentrification has swept the area. The neighborhood is in flux; the former Sears building, a massive 10-story Art Deco-era tower, is slated for a multi-use community hub with retail, residential, offices, and creative spaces set to be completed in 2020. You will find Boyle Heights just to the east of downtown Los Angeles. It is a neighborhood full of culture which borders the Arts District and is home to some of the city’s most authentic Mexican restaurants. The community has one of the highest population densities in the city of Los Angeles and in Los Angeles County. One of the local recreation centers in Boyle Heights provides a great space for a nice afternoon. Hollenbeck Park has scenic views and gives a bit of a reprieve from the fast pace of the neighborhood. Take a stroll to sightsee the old Sears Building, Olympic Boulevard, and Soto Street. The neighborhood boasts quite a variety of small Mexican shops that can keep you busy while trying to explore them all. A vibrant community whose cultural richness is matched by its culinary delights. PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 16 Soto Metro Gold Line Station 2330 E 1st St, Los Angeles 90033 0.3 Miles away / 2 Blocks away 12 Bike Rack Spaces & 4 Bike Lockers available on site. PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 17 318 North Mathews Street Boyle Heights, Los Angeles, 90033 Commute to Downtown East Los Angeles About this Location 318 N. Mathews St. has a Walk Score of 89 out of 100. This location is Very Walkable so most errands can be accomplished
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