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For Sale Investment Offering Memorandum 14546 Hamlin Street Van Nuys, California 91411

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For Sale Investment Offering Memorandum 14546 Hamlin Street Van Nuys, California 91411 FOR SALE INVESTMENT OFFERING MEMORANDUM 14546 HAMLIN STREET VAN NUYS, CALIFORNIA 91411 CODY CHIARELLA MATTHEW HEYN CHALVIS EVANS KYLE BARRATT GERARD POUTIER CBRE, INC. First Vice President Executive Vice President Senior Vice President Senior Sales Director Sales Assistant 234 S Brand Blvd Lic. 01754878 Lic. 01306148 Lic. 01318400 Lic. 01900653 Lic. 02035565 Suite 800 +1 818 502 6730 +1 818 907 4619 +1 818 907 4635 +1 818 907 4650 +1 818 907 4629 Glendale, CA 91204 [email protected] [email protected] [email protected] [email protected] [email protected] EXECUTIVE SUMMARY PROPERTY DESCRIPTION The subject building is centrally located within the San Fernando Valley in Van Nuys. This professional office building is well suited for an owner-user and or investor looking for product in a dense urban location near many governmental type facilities. INVESTMENT SUMMARY Offering Price $4,800,000.00 ($185.29 psf) Address 14546 Hamlin Street, Van Nuys CA 91411 Building Size ±25,905 sq. ft. 2018 NOI $248,204.53 Current Percentage 84% Leased Parcel Numbers 2236-016-011, 2236-016-012 Zoning LACR Land Use Office Building Gilmore Street Van Nuys Boulevard Vesper Avenue Vesper PROPERTY HIGHLIGHTS • Investment opportunity with rental upside Hamlin Street • Redevelopment/conversion opportunity • Owner/user opportunity • Strong urban demographics • Immediately available 2 14546 HAMLIN STREET EXECUTIVE SUMMARY AREA OVERVIEW The San Fernando Valley The San Fernando Valley (known locally and in surrounding areas as “The Valley”) is an urbanized valley located in the Los Angeles metropolitan area of southern California, defined by the mountains of the Transverse Ranges circling it. The San Fernando Valley is +/- 260 square miles bounded by the Santa Susana Mountains to the northwest, the Simi Hills to the west, the Santa Monica Mountains and Chalk Hills to the south, the Verdugo Mountains to the east, and the San Gabriel Mountains to the northeast. The northern Sierra Pelona Mountains, northwestern Topatopa Mountains, southern Santa Ana Mountains, and Downtown Los Angeles skyscrapers can be seen from higher neighborhoods, passes, and parks in the San Fernando Valley. Nearly two thirds of the Valley’s land area is part of the City of Los Angeles and is home to 1.8 million people. The other incorporated cities in the Valley are Glendale, Burbank, San Fernando, Hidden Hills, and Calabasas. 3 14546 HAMLIN STREET EXECUTIVE SUMMARY LOCATION Van Nuys is bordered on the north by North Hills, on the northeast by Panorama City, on the east by Valley Glen, on the south by Sherman Oaks, on the southwest by the Sepulveda Basin, on the west by Lake Balboa and on the northwest by Northridge. Its street and other boundaries are Roscoe Boulevard on the north, Sepulveda Boulevard, the Tujunga Wash, Woodman Avenue and Hazeltine Avenue on the east, Oxnard Street on the south, the Sepulveda Basin on the southwest and Odessa and Hayvenhurst avenues and Balboa Boulevard on the west. 14546 HAMLIN STREET 4 14546 HAMLIN STREET EXECUTIVE SUMMARY AERIAL MAP 14546 HAMLIN STREET 5 14546 HAMLIN STREET EXECUTIVE SUMMARY 14546 Hamlin St. Van Nuys, CA RETAIL AMENITIES MAP Retail Amenity Map Sherman Way. VAN NUYS Vanowen St. VALLEY GLEN SITE Victory Blvd. LOS ANGELES SUPERIOR COURT- Sepulveda Blvd. Ave. Kester Nuys Blvd. Van VAN NUYS Hazeltine Ave. Ave. Woodman Fulton Ave. Oxnard St. Coldwater Canyon Ave. Orange Line Busway Burbank Blvd. © 2014 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. 6 14546 HAMLIN STREET EXECUTIVE SUMMARY PROPERTY PHOTOS 7 14546 HAMLIN STREET RENT ROLL (AS OF 01/17/2019) 8 14546 HAMLIN STREET SALE COMPARABLES Property Address Price/Sq. Ft. Sale Price GLA Sale Date Photo Subject 14546 Hamlin Street $185.29 $4,800,000 25,905 For Sale Building Van Nuys CA 91411 10520-10520 1/2 Victory Blvd 1 $349.95 $642,500 1,836 5/25/2017 North Hollywood CA 91606 14432-14434 Gilmore St 2 $324.46 $1,000,000 3,082 12/30/2016 Van Nuys CA 91401 14541 Hamlin St 3 $317.86 $890,000 2,800 10/14/2015 Van Nuys CA 91411 1122-1133 N Hollywood Way - Point 360 4 $306.25 $9,800,000 32,000 10/11/2016 Burbank CA 91505 Sold Comparables 14120 Victory Blvd 5 $295.86 $900,000 3,042 5/19/2017 Van Nuys CA 91401 8786 Van Nuys Blvd 6 $291.06 $840,000 2,886 9/20/2016 Panorama City CA 91402 14539-14547 Erwin St 7 $400.92 $3,500,000 8,730 For Sale Van Nuys CA 91411 14401 Gilmore St 8 $368.85 $2,295,000 6,222 For Sale Van Nuys CA 91401 5301 Laurel Canyon Blvd 9 $296.13 $5,100,000 17,222 For Sale Active Sales Comparables North Hollywood CA 91607 9 14546 HAMLIN STREET DEMOGRAPHIC COMPREHENSIVE DEMOGRAPHICS14546 HAMLIN ST PLACE OF WORK 1 Mile 3 Miles 5 Miles 10 Miles Total Businesses 3,304 17,939 35,238 118,704 FULLDaytime RETAILEmployment (TotalREPORT Employees) 22,305 139,893 257,752 1,083,291 POPULATION 2016 Population 49,336 316,366 735,135 1,936,726 2021 Population 51,198 329,207 766,660 2,022,863 2010 Population 47,591 303,949 703,786 1,847,273 2000 Population 47,482 299,267 679,604 1,773,250 Percent Pop Change: 2010 to 2016 3.7% 4.1% 4.5% 4.8% Percent Pop Change: 2016 to 2021 3.8% 4.1% 4.3% 4.5% AGE 2016 Population 4 9 , 3 3 6 3 1 6 , 3 6 6 7 3 5 , 1 3 5 1,936,726 Age 0 - 4 3,579 7.3% 21,127 6.7% 47,841 6.5% 108,492 5.6% Age 5 - 9 3,586 7.3% 21,444 6.8% 48,591 6.6% 111,965 5.8% Age 10 - 14 3,204 6.5% 19,471 6.2% 45,171 6.1% 106,968 5.5% Age 15 - 17 1,938 3.9% 11,678 3.7% 27,910 3.8% 67,854 3.5% Age 18 - 20 1,850 3.7% 11,074 3.5% 26,393 3.6% 76,861 4.0% Age 21 - 24 2,720 5.5% 16,087 5.1% 38,202 5.2% 105,394 5.4% Age 25 - 34 8,343 16.9% 52,174 16.5% 117,952 16.0% 314,650 16.2% Age 35 - 44 7,822 15.9% 50,086 15.8% 112,591 15.3% 289,445 14.9% Age 45 - 54 6,671 13.5% 43,616 13.8% 101,525 13.8% 268,153 13.8% Age 55 - 64 5,039 10.2% 34,613 10.9% 82,480 11.2% 226,694 11.7% Age 65 - 74 2,652 5.4% 20,206 6.4% 49,802 6.8% 145,065 7.5% Age 75 - 84 1,214 2.5% 9,658 3.1% 24,711 3.4% 76,134 3.9% Age 85+ 720 1.5% 5,131 1.6% 11,967 1.6% 39,049 2.0% 2016 Median Age 34.4 36.0 36.3 37.6 2016 Average Age 35.5 37.0 37.4 38.8 RACE AND ETHNICITY 2016 Population 4 9 , 3 3 6 3 1 6 , 3 6 6 7 3 5 , 1 3 5 1,936,726 White 25,867 52.4% 181,036 57.2% 417,777 56.8% 1,179,830 60.9% African American 2,498 5.1% 14,655 4.6% 30,955 4.2% 78,787 4.1% Asian 2,837 5.8% 27,785 8.8% 63,811 8.7% 206,630 10.7% Native Hawaiian/Pacific Islander 75 0.2% 421 0.1% 1,023 0.1% 2,445 0.1% American Indian/Alaska Native 433 0.9% 2,005 0.6% 4,745 0.6% 11,018 0.6% Some Other Race 15,612 31.6% 75,842 24.0% 181,923 24.7% 365,109 18.9% 2 or More Races 2,014 4.1% 14,621 4.6% 34,902 4.7% 92,908 4.8% 2016 Hispanic Population 31,779 64.4% 157,399 49.8% 376,635 51.2% 789,652 40.8% Not Hispanic/Latino, White 11,616 23.5% 110,730 35.0% 248,427 33.8% 810,840 41.9% 10 14546 HAMLIN STREET ©2016 CBRE. This information has been obtained from sources believed reliable.
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