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 on foot.

318 N. Mathews St. is a six minute walk from the Metro Gold Line (804) at the Soto Station stop.

This location is in the Boyle Heights neighborhood in Los Angeles. Nearby parks include Evergreen Recreation Center, Evergreen Playground and State Street Playground.

https://www.walkscore.com/score/318-n-mathews-st-los-angeles-ca-90033

PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 18 More Jobs Coming to the Arts District - Prospective Employees Looking for non-Arts District Rents Under 30 Minutes by Public Transportation and around 10 Minutes by Car from Mathews to the Arts District.

Denim Company Commits To the Arts District The denim company Lucky Brand has long had a big stake in the Arts District, with an approximately 50,000-square-foot headquarters at 540 S. Santa Fe Ave., and a two-level, 25,000- square-foot manufacturing facility two blocks away at 1245 Factory Place. http://www.ladowntownnews.com/development/denim-company-commits-to-the-arts- district/article_a0842336-c31b-11e7-b6a5-7b50d4dc070b.html

Warner Music leaving Burbank, Westside for downtown Spotify to launch LA offices in DTLA's Arts District L.A.'s Arts District DTLA's Arts District is about to get a little more crowded, according to Already a growing haven for artists, fashionistas, foodies and LA real estate blog The Real Deal, which reported that the company is techies, the Arts District is about to get a major influx of song close to leasing a 100,000-square-foot office in the At Mateo complex. and dance. Currently, the music streaming giant's LA office is located in an 8,200- square-foot facility on Sunset Boulevard in West Hollywood. In a shift that reflects the increasing importance of infusing the https://therealdeal.com/la/2018/01/30/spotify-nearing-deal-for-major-expansion-into-arts- music industry with tech culture, Warner Music Group plans to district-sources/ move hundreds of employees from Burbank and the Westside into a renovated former auto plant in the downtown neighborhood. http://www.latimes.com/business/la-fi-warner-arts-district-20161008-snap-story.html

Sky-Rocketing Arts District Rents

https://www.downtownla.com/images/reports/BID.Survey17.Results.v23.pdf https://www.renthop.com/average-rent-in/arts-district/los-angeles-ca

PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 19 318 ZIMAS REPORT N. MATHEWS STREET

Residential Market Area Low City of Los Angeles Non-Residential Market Area Medium Department of City Planning Transit Oriented Communities (TOC) Tier 3 CRA - Community Redevelopment Agency None Central City Parking No 5/9/2018 Downtown Parking No PARCEL PROFILE REPORT Building Line None 500 Ft School Zone No PROPERTY ADDRESSES Address/Legal Information 500 Ft Park Zone No 318 N MATHEWS ST PIN Number 127-5A225 49 Assessor Information Lot/Parcel Area (Calculated) 8,546.5 (sq ft) Assessor Parcel No. (APN) 5180008010 ZIP CODES Thomas Brothers Grid PAGE 635 - GRID B4 APN Area (Co. Public Works)* 0.196 (ac) 90033 PAGE 635 - GRID B5 Use Code 0200 - Residential - Double, Duplex, or Two Units - 4 Stories or Less Assessor Parcel No. (APN) 5180008010 Assessed Land Val. $167,987 RECENT ACTIVITY Tract DENNIS AND COOK'S SUBDIVISION OF LOT 3 OF THE MATHEWS Assessed Improvement Val. $118,314 None AND FICKETT TRACT Map Reference M R 36-85 Last Owner Change 11/14/2013 Block None Last Sale Amount $365,003 CASE NUMBERS Lot 8 Tax Rate Area 4 CPC-7337 Arb (Lot Cut Reference) None Deed Ref No. (City Clerk) 6-771LE CPC-2016-2905-CPU Map Sheet 127-5A225 2103615 CPC-2015-1462-CA Jurisdictional Information 1919945 CPC-2007-5599-CPU Community Plan Area Boyle Heights 1712224 CPC-1986-445-GPC Area Planning Commission East Los Angeles Building 1 ORD-184246 Neighborhood Council Boyle Heights Year Built 1905 ORD-166585-SA1700B Council District CD 14 - José Huizar Building Class D35A ORD-129279 Census Tract # 2042.00 Number of Units 1 ORD-107853 LADBS District Office Los Angeles Metro Number of Bedrooms 2 ENV-2016-2906-EIR Planning and Zoning Information Number of Bathrooms 1 ENV-2015-1463-ND Special Notes None Building Square Footage 946.0 (sq ft) ENV-2013-3392-CE Zoning R3-1-CUGU Building 2 ENV-2007-5600-EIR Zoning Information (ZI) Year Built 1905 ND-83-381-ZC-HD ZI-2129 EAST LOS ANGELES STATE ENTERPRISE ZONE ZI-2458 Clean Up Green Up Supplemental Use District Building Class D55C ZI-2452 Transit Priority Area in the City of Los Angeles Number of Units 1 General Plan Land Use Medium Residential Number of Bedrooms 4 General Plan Note(s) Yes Number of Bathrooms 1 Hillside Area (Zoning Code) No Building Square Footage 2,131.0 (sq ft) Specific Plan Area None Building 3 No data for building 3 Subarea None Building 4 No data for building 4 Special Land Use / Zoning None Building 5 No data for building 5 Design Review Board No Additional Information Historic Preservation Review No Airport Hazard None Historic Preservation Overlay Zone None Coastal Zone None Other Historic Designations None Farmland Area Not Mapped Other Historic Survey Information None Urban Agriculture Incentive Zone YES Mills Act Contract None Very High Fire Hazard Severity Zone No CDO: Community Design Overlay None Fire District No. 1 No CPIO: Community Plan Imp. Overlay None Flood Zone None Subarea None Watercourse No CUGU: Clean Up-Green Up Boyle Heights Hazardous Waste / Border Zone Properties No NSO: Neighborhood Stabilization Overlay No Methane Hazard Site Methane Buffer Zone POD: Pedestrian Oriented Districts None High Wind Velocity Areas No SN: Sign District No Special Grading Area (BOE Basic Grid Map A- Yes Streetscape No 13372) Adaptive Reuse Incentive Area None Oil Wells None Affordable Housing Linkage Fee Seismic Hazards

This report is subject to the terms and conditions as set forth on the website. For more details, please refer to the terms and conditions at zimas.lacity.orgThis report is subject to the terms and conditions as set forth on the website. For more details, please refer to the terms and conditions at zimas.lacity.org PACIFIC UNION COMMERCIAL(*) - APN Area is provided "as is" from the Los Angeles County's Public Works, Flood Control, Benefit Assessment. (*) - APN Area is provided "as is" from the318 Los N.Angeles MATHEWS County's Public Works, STREET Flood Control, | PRESENTEDBenefit Assessment. BY DARIO SVIDLER | 20 zimas.lacity.org | planning.lacity.org zimas.lacity.org | planning.lacity.org 318 ZIMAS REPORT N. MATHEWS STREET City of Los Angeles ZIMAS PUBLIC Generalized Zoning 05/09/2018 Department of City Planning

Active Fault Near-Source Zone Nearest Fault (Distance in km) 1.77326544 Nearest Fault (Name) Upper Elysian Park Region Los Angeles Blind Thrusts Fault Type B Slip Rate (mm/year) 1.30000000 Slip Geometry Reverse Slip Type Poorly Constrained Down Dip Width (km) 13.00000000 Rupture Top 3.00000000 Rupture Bottom 13.00000000 Dip Angle (degrees) 50.00000000 Maximum Magnitude 6.40000000 Alquist-Priolo Fault Zone No Landslide No Liquefaction No Preliminary Fault Rupture Study Area No Tsunami Inundation Zone No Economic Development Areas Business Improvement District None Promise Zone None Renewal Community No Revitalization Zone Central City State Enterprise Zone EAST LOS ANGELES STATE ENTERPRISE ZONE Targeted Neighborhood Initiative None Housing Direct all Inquiries to Housing+Community Investment Department Telephone (866) 557-7368 Website http://hcidla.lacity.org Rent Stabilization Ordinance (RSO) Yes Ellis Act Property No Public Safety Police Information Bureau Central Division / Station Hollenbeck Reporting District 466 Fire Information Bureau Central Batallion 1 District / Fire Station 2 Red Flag Restricted Parking No

PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 21

Address: 318 N MATHEWS ST Tract: DENNIS AND COOK'S Zoning: R3-1-CUGU SUBDIVISION OF LOT 3 OF THE MATHEWS AND FICKETT TRACT APN: 5180008010 Block: None General Plan: Medium Residential This report is subject to the terms and conditions as set forth on the website. For more details, please refer to the terms and conditions at zimas.lacity.org (*) - APN Area is provided "as is" from thePIN Los Angeles #: County's127-5A225 Public Works, Flood 49 Control, Benefit Assessment. Lot: 8 zimas.lacity.org | planning.lacity.org Arb: None Streets Copyright (c) Thomas Brothers Maps, Inc. 318 ASSESSOR MAP N. MATHEWS STREET

PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 22 318 N. MATHEWS STREET

For further information contact: PACIFIC UNION COMMERCIAL 9378 Wilshire Boulevard, Suite 200 Beverly Hills, CA 90212

DARIO SVIDLER 310.500.3301 [email protected] License 01884474

PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 23