IMPERIAL HWY PORTFOLIOE IMPERIAL HWY | LOS ANGELES, CA 90059 | 14 UNITS
863 E IMPERIAL HWY | 7 UNITS
847 E IMPERIAL HWY | 5 UNITS
855 E IMPERIAL HWY | 2 UNITS
DRE 02004120
Jonathan Prakash Derrick Vartanian Executive Managing Director, Partner Executive Managing Director, Partner 310.301.2351 | [email protected] 310.301.2353 | [email protected] In Association with KW Commercial DRE: #01483131 DRE: #01816119 847 E Imperial Hwy, LA 90059 855 E Imperial Hwy, LA 90059 863 E Imperial Hwy, LA 90059 5 Units | $875,000 2 Units | $625,000 7 Units | $1,600,000
MVP TABLE OF CONTENTS
In Association with KW Commercial
OFFERING MEMORANDUM IMPERIAL HWY PORTFOLIO E IMPERIAL HWY | LOS ANGELES, CA 90059
1. EXECUTIVE SUMMARY SUMMARY OF TERMS & THE OFFERING 6-11 2. FINANCIAL ANALYSIS FINANCIAL SUMMARY & RENT ROLL 12-19 3. MARKET OVERVIEW CITY OF LOS ANGELES & GEOGRAPHY 20-21 SUBMARKET / GREATER LOS ANGELES AREA 22-23 DEMOGRAPHICS 24 MAJOR EMPLOYERS 25 RETAIL CENTERS 26 COLLEGES & UNIVERSITIES 27 HEALTH CARE CENTERS 28 PARKS AND RECREATION 29
CalDRE 02004120
MVP Commercial 3 IMPERIAL HWY 847E Imperial Hwy, LA 90059 5 Units | $875,000
5 (1BR/1BA)
855E Imperial Hwy, LA 90059 2 Units | $625,000
2 (3BR/1BA) PORTFOLIO
863E Imperial Hwy, LA 90059 7 Units | $1,600,000
1 (5BR/2BA) + 5 (2BR/1BA) + 1 (1BR/1BA)
EXECUTIVE SUMMARY
THE OFFERING SUBJECT PROPERTY : 847 E Imperial Hwy, Los Angeles CA 90059
MVP Commercial is pleased to present 847 E Imperial Hwy - a five (5) unit multifamily investment opportunity located in South Los Angeles and built in 1955. The two (2) story property consists of five (5) One Bedroom / One Bath units with three (3) of the units on the upper level and two (2) units on the ground floor. All five (5) units have hardwood floors throughout the living space and have been recently renovated with new tile flooring in every kitchen and bathroom. In addition to the flooring, three (3) of the five (5) units have undergone major renovations including new energy efficient windows and fixtures. Further, the Seller has Parking Seismic Retrofit plans in place but has yet to complete the work.
Located just blocks from the 105 and 110 freeways between Central Avenue and Avalon Boulevard, the location of the offering allows for easy access to nearby freeways and shopping centers to accommodate for daily needs.
The property possesses a total of nine (9) parking spots: three (3) of which are in a covered garage. Situated on a lot spanning 5,749 SF with 2,620 SF of building space, the building offers a comfortable amount of room for each unit. The offering is priced at a 6.10% CAP and 10.40 GRM, attractive rates in this active and emerging market.
847 E Imperial Hwy will surely benefit the investor with high returns, providing a premier CAP rate and low annual expenses. With historically high rental demand in the South Los Angeles Multi-Family market an investor can benefit from receiving full rental income from a recently renovated property that provides on-site parking and excellent amenities.
IMPERIAL HIGHWAY PORTFOLIO 6 EXECUTIVE SUMMARY
SUMMARY OF TERMS PARCEL MAP 847 E Imperial Hwy, Los Angeles CA 90059 APN: 6072-013-014
Price $875,000
Price/Unit $175,000
Price/Gross SF: $333.97
Units 5
Number of Stories 2
Year Built 1955
Building Size 2,620 SF
Lot Size 5,769 SF
Zoning RD2-1-CPIO
Parking Spaces 9
INVESTMENT HIGHLIGHTS LOCATION HIGHLIGHTS
• 6.10% CAP | 10.40 GRM • Developing Neighborhood in South Los Angeles • Seller has Seismic Retrofit Plans in Place • Close Proximity to 105 and 110 Freeways • Tremendous Rental Upside • Dense Rent-Controlled Sub Market • Five (5) 1 Bedroom + 1 Bath Units • Close Drive to new LA Ram Stadium (Sofi Stadium) • Newly Renovated Kitchen and Bathroom Floors
MVP Commercial 7 EXECUTIVE SUMMARY
THE OFFERING SUBJECT PROPERTY : 855 E Imperial Hwy, Los Angeles CA 90059
MVP Commercial is pleased to present 855 E Imperial Hwy - a two (2) unit multifamily investment opportunity located in South Los Angeles and built in 1910. The two (2) story property consists of two (2) Three
Bedroom / One Bath units and features a strong CAP rate of 9.01% and a GRM of 8.07 on current rents. Also, the property has 6 parking spaces which could potentially be rented out for additional income.
Located just blocks from the 105 and 110 freeways between Central
Avenue and Avalon Boulevard, the location of the offering allows for easy access to nearby freeways and shopping center to accommodate for daily needs.
Further, the subject property may be eligible for an ADU(s) and would provide an owner with a great opportunity to add units to the lot in order to maximize the value of this asset (BUYER TO VERIFY).
IMPERIAL HIGHWAY PORTFOLIO 8 EXECUTIVE SUMMARY
SUMMARY OF TERMS PARCEL MAP 855 E Imperial Hwy, Los Angeles CA 90059 APN: 6072-013-012
Price $625,000
Price/Unit $312,500
Price/Gross SF: $324.17
Units 2
Number of Stories 2
Year Built 1910
Building Size 1,928 SF
Lot Size 5,769 SF
Zoning RD2-1-CPIO
Parking Spaces 6
INVESTMENT HIGHLIGHTS LOCATION HIGHLIGHTS
• 9.01% CAP | 8.07 GRM • Developing Neighborhood in South Los Angeles • Stabilized Asset with Upside Potential • Close Proximity to 105 and 110 Freeways • Features all 3 Bedroom + 1 Bath Units • Dense Rent-Controlled Sub Market • Potential to Add ADUs to Lot in order to Maximize Investment • Close Drive to new LA Ram Stadium (Sofi Stadium) (BUYER TO VERIFY) • Large Lot Zoned LARD2
MVP Commercial 9 EXECUTIVE SUMMARY
THE OFFERING SUBJECT PROPERTY : 863 E Imperial Hwy, Los Angeles CA 90059
MVP Commercial is pleased to present 863 E Imperial Highway - a seven (7) unit multifamily investment opportunity located in South Los Angeles and built in 1956. The three (3) story wood frame stucco building consists of five (5) Two Bedroom / One Bath units, one (1) One Bedroom / One Bath unit, and one (1) Five Bedroom / Two Bath unit. There are a total of seven (7) parking spaces: three (3) of which are covered spaces. Several units have recently been partially renovated with laminate flooring, new paint, and new plumbing fixtures. In addition to the extensive interior renovations, the property completed Soft Story Parking Retrofitting, had a brand new roof installed in 2017, completely updated electrical systems, upgraded security lighting, and installed a ADT Security System in each unit. Further, the Seller has started plans to convert the top unit into a 3 Bedroom / 2 Bath Unit.
Located between Central Avenue and Avalon Boulevard, 863 E Imperial Highway is conveniently nearby the 105 and 110 Freeway and is also in close proximity to the Watts Towers Arts Center.
863 E Imperial Highway has 6,046 SF of livable space situated on a 5,759 SF lot zoned LARD2. This offering is priced to sell at a 6.37% CAP and 10.01 GRM. This attractive investment will reward an intelligent investor with high returns while remaining in the city of Los Angeles. Due to historically high occupancy rates in this market and low estimated annual expenses, an investor can be confident in receiving full rental income and optimizing their investment.
IMPERIAL HIGHWAY PORTFOLIO 10 EXECUTIVE SUMMARY
SUMMARY OF TERMS PARCEL MAP 863 E Imperial Hwy, Los Angeles CA 90059 APN: 6072-013-011
Price $1,600,000
Price/Unit $228,571
Price/Gross SF: $264.64
Units 7
Number of Stories 2
Year Built 1956
Building Size 6,046 SF
Lot Size 5,759 SF
Zoning RD2-1-CPIO
Parking Spaces 7
INVESTMENT HIGHLIGHTS LOCATION HIGHLIGHTS
• 6.37% CAP | 10.01 GRM • Developing Neighborhood in South Los Angeles • Parking Seismic Retrofit has been Completed • Close Proximity to 105 and 110 Freeways • Excellent Unit Mix: Five (2 Bedroom + 1 Bath), 1 (1 Bedroom + 1 • Dense Rent-Controlled Sub Market Bath), and 1 (5 Bedroom +2 Bath) • Close Drive to new LA Ram Stadium (Sofi Stadium) • Brand New Roof and Completely Upgraded Electrical System • Updated Units with Laminate Flooring, New Paint, New Plumbing Fixtures, and ADT Security System Ready
• Ample On-Site Parking
MVP Commercial 11 FINANCIAL SUMMARY 847, 855, 863 E Imperial Hwy, Los Angeles, CA 90059
PRICING ESTIMATED ANNUALIZED EXPENSES
Price $3,100,000 *Taxes: Rate 1.2% $37,200
Down Payment 25% $775,000 *Insurance $5,827 Number of Units 14 **Utilities $14,359
Cost per Legal Unit $221,429 *Maintenance/Repair $16,066
Current GRM 9.65 **Trash $7,740
Market GRM 8.35 *Off-Site Mgmt 4% $12,853 Current CAP 6.82% *Reserves 1% $3,213 Market CAP 8.38% **Gardening $1,260 Approximate Age 1910, 1955, 1956 **Security Sys $1,920
Approximate Lot Size 17,297 SF
Approximate Building Sqft 8,234 SF *Estimated Expenses* Cost per Net GSF $292.62 **Seller Stated Expenses**
PROPOSED FINANCING Total Expenses $100,438 New First Loan: $2,325,000 Per Net Sqft $9.48 Interest Rate: 3.5% Per Unit $7,174.11 Amortization 30
Monthly Payment: $10,440 SCHEDULED INCOME
DCR 1.70 Monthly Current Rents Monthly Market Rents
LTV 75% No. of Units Bed/Bath Approx. Sqft Rent/Unit Income Rent/Unit Income
6 1+1 $1,430 $8,582 $1,600 $9,600
ANNUALIZED OPERATING DATA 5 2+1 $1,869 $9,345 $2,050 $10,250
Current Rents Market Rents 2 3+1 $3,150 $6,300 $4,050 $8,100
Scheduled Gross Income $321,318 $371,400 1 5+2 $2,400 $2,400 $2,850 $2,850
Less Vacancy Rate Reserve ($9,586) 3.0% ($11,088) 3.0%
Gross Operating Income $311,733 $360,312 Average Rent/Gr. Sqft $2.53 $2.92 Less Expenses ($100,438) 31.3% ($100,438) 27.0% Total Scheduled Rent: $26,627 $30,800 Net Operating Income $211,295 $259,874 Laundry Income $150 $150 Less Loan Payments ($125,283) ($125,283) Misc. Income $0 $0 Pre-Tax Cash Flow $86,012 11.1% $134,591 17.4%* Monthly Scheduled Gross Income $26,777 $30,950 Plus Principal Reduction $45,038 $45,038 Annual Scheduled Gross Income $321,318 $371,400
Total Return Before Taxes $131,050 16.9%* $179,629 23.2%* Utilities Paid by Tenant Gas & Electricity
12 RENT ROLL
UNIT NO. MIX CURRENT NOTES PROFORMA
847-1 1+1 $1,400.00 $1,600.00
2 1+1 $967.54 $1,600.00
3 1+1 $1,550.00 $1,600.00
4 1+1 $1,494.00 $1,600.00
5 1+1 $1,600.00 $1,600.00
855-1 3+1 $2,250.00 $4,050.00
2 3+1 $4,050.00 $4,050.00
863-1 2+1 $1,800.00 $2,050.00
2 2+1 $1,850.00 $2,050.00
3 2+1 $1,850.00 $2,050.00
4 2+1 $1,850.00 $2,050.00
5 2+1 $1,995.00 $2,050.00
6 5+2 $2,400.00 $2,850.00
7 1+1 $1,570.00 $1,600.00
***Brokers do not represent the accuracy of any of this information. Buyer to conduct own investigation of all information provided.***
Monthly Rent $26,627 $30,800
Laundry Income $150 $150
Misc. Income
Yearly Gross Income $321,318 $371,400
MVP Commercial 13 FINANCIAL SUMMARY 847 E Imperial Hwy, Los Angeles, CA 90059
PRICING ESTIMATED ANNUALIZED EXPENSES
Price $875,000 *Taxes: Rate 1.2% $10,500
Down Payment 25% $218,750 *Insurance $1,441
Number of Units 5 **Utilities $3,012
Cost per Legal Unit $175,000 *Maintenance/Repair $3,366
Current GRM 10.40 **Trash $3,900
Market GRM 9.11 *Off-Site Mgmt 4% $3,366
Current CAP 6.10% *Reserves 1% $841
Market CAP 7.42% **Gardening $960
Approximate Age 1955 **Security Sys $840
Approximate Lot Size 5,769 SF
Approximate Building Sqft 2,620 SF *Estimated Expenses*
Cost per Net GSF $333.97 **Seller Stated Expenses**
PROPOSED FINANCING Total Expenses $28,225
New First Loan: $656,250 Per Net Sqft $10.77
Interest Rate: 3.5% Per Unit $5,645.09
Amortization 30
Monthly Payment: $2,947 SCHEDULED INCOME
DCR 1.50 Monthly Current Rents Monthly Market Rents
LTV 75% No. of Units Bed/Bath Approx. Sqft Rent/Unit Income Rent/Unit Income
5 1+1 $1,402 $7,012 $1,600 $8,000
ANNUALIZED OPERATING DATA
Current Rents Market Rents
Scheduled Gross Income $84,138 $96,000
Less Vacancy Rate Reserve ($2,524) 3.0% ($2,880) 3.0%
Gross Operating Income $81,614 $93,120 Average Rent/Gr. Sqft $2.68 $3.05
Less Expenses ($28,225) 33.5% ($28,225) 29.4% Total Scheduled Rent: $7,012 $8,000
Net Operating Income $53,389 $64,895
Less Loan Payments ($35,362) ($35,362)
Pre-Tax Cash Flow $18,027 8.2%* $29,532 13.5%* Monthly Scheduled Gross Income $7,012 $8,000
Plus Principal Reduction $12,712 $12,712 Annual Scheduled Gross Income $84,138 $96,000
Total Return Before Taxes $30,739 14.1%* $42,245 19.3%* Utilities Paid by Tenant Gas & Electricity
14 RENT ROLL
UNIT NO. MIX CURRENT NOTES PROFORMA
1 1+1 $1,400.00 Renovated Unit $1,600.00
2 1+1 $967.54 $1,600.00
3 1+1 $1,550.00 Renovated Unit | Govt Sub Housing $1,600.00
4 1+1 $1,494.00 Renovated Unit | Govt Sub Housing $1,600.00
5 1+1 $1,600.00 $1,600.00
***Brokers do not represent the accuracy of any of this information. Buyer to conduct own investigation of all information provided.***
Monthly Rent $7,012 $8,000
Yearly Gross Income $84,138 $96,000
MVP Commercial 15 FINANCIAL SUMMARY 855 E Imperial Hwy, Los Angeles, CA 90059
PRICING ESTIMATED ANNUALIZED EXPENSES
Price $625,000 *Taxes: Rate 1.2% $7,500
Down Payment 25% 156,250 *Insurance $1,060
Number of Units 2 **Utilities $2,600
Cost per Legal Unit $312,500 *Maintenance/Repair $3,096
Current GRM 8.07 *Off-Site Mgmt $3,096
Market GRM 6.31 *Reserves 4% $774
Current CAP 9.01% **Gardening 1% $720
Market CAP 12.36%
Approximate Age 1910
Approximate Lot Size 5,769 SF
Approximate Building Sqft 1,928 SF *Estimated Expenses*
Cost per Net GSF $324.17 **Seller Stated Expenses**
PROPOSED FINANCING Total Expenses $18,846
New First Loan: $468,750 Per Net Sqft $9.78
Interest Rate: 3.5% Per Unit $9,423.20
Amortization 30
Monthly Payment: $2,105 SCHEDULED INCOME
DCR 2.23 Monthly Current Rents Monthly Market Rents
LTV 75% No. of Units Bed/Bath Approx. Sqft Rent/Unit Income Rent/Unit Income
2 3+1 $3,150 $6,300 $4,050 $8,100
ANNUALIZED OPERATING DATA
Current Rents Market Rents
Scheduled Gross Income $77,400 $99,000
Less Vacancy Rate Reserve ($2,268) 3.0% ($2,916) 3.0%
Gross Operating Income $75,132 $96,084 Average Rent/Gr. Sqft $3.35 $4.28
Less Expenses ($18,846) 24.3% ($18,846) 19.0% Total Scheduled Rent: $6,300 $8,100
Net Operating Income $56,286 $77,238 Laundry Income $150 $150
Less Loan Payments ($25,259) ($25,259)
Pre-Tax Cash Flow $31,027 19.9%* $51,979 33.3%* Monthly Scheduled Gross Income $6,450 $8,250
Plus Principal Reduction $9,080 $9,080 Annual Scheduled Gross Income $77,400 $99,000
Total Return Before Taxes $40,107 25.7%* $61,059 39.1%* Utilities Paid by Tenant Gas & Electricity
16 RENT ROLL
UNIT NO. MIX CURRENT NOTES PROFORMA
855 3+1 $2,250.00 Govt Sub Housing $4,050.00
*857 3+1 $4,050.00 Govt Sub Housing $4,050.00
* Unit rented per bedroom @ $1,350/room
***Brokers do not represent the accuracy of any of this information. Buyer to conduct own investigation of all information provided.***
Monthly Rent $6,300 $8,100
Laundry $150 $150
Yearly Gross Income $77,400 $99,000
MVP Commercial 17 FINANCIAL SUMMARY 863 E Imperial Hwy, Los Angeles, CA 90059
PRICING ESTIMATED ANNUALIZED EXPENSES
Price $1,600,000 *Taxes: Rate 1.2% $19,200
Down Payment 25% $400,000 *Insurance $3,325
Number of Units 7 **Utilities $8,747
Cost per Legal Unit $228,571 *Maintenance/Repair $7,989
Current GRM 10.01 **Trash $3,840
Market GRM 9.07 *Off-Site Mgmt 4% $6,391
Current CAP 6.37% *Reserves 1% $1,598
Market CAP 7.37% **Security Sys $1,080
Approximate Age 1956 **Gardening $960
Approximate Lot Size 5,759 SF
Approximate Building Sqft 6,046 SF *Estimated Expenses*
Cost per Net GSF $264.64 **Seller Stated Expenses**
PROPOSED FINANCING Total Expenses $53,130
New First Loan: $1,200,000 Per Net Sqft $8.79
Interest Rate: 3.5% Per Unit $7,590.04
Amortization 30
Monthly Payment: $5,389 SCHEDULED INCOME
DCR 1.58 Monthly Current Rents Monthly Market Rents
LTV 75% No. of Units Bed/Bath Approx. Sqft Rent/Unit Income Rent/Unit Income
1 5+2 $2,400 $2,400 $2,850 $2,850
ANNUALIZED OPERATING DATA 5 2+1 $1,869 $9,345 $2,050 $10,250
Current Rents Market Rents 1 1+1 $1,570 $1,570 $1,600 $1,600
Scheduled Gross Income $159,780 $176,400
Less Vacancy Rate Reserve ($4,793) 3.0% ($5,292) 3.0%
Gross Operating Income $154,987 $171,108 Average Rent/Gr. Sqft $2.20 $2.43
Less Expenses ($53,130) 33.3% ($53,130) 30.1% Total Scheduled Rent: $13,315 $14,700
Net Operating Income $101,856 $117,978
Less Loan Payments ($64,662) ($64,662)
Pre-Tax Cash Flow $37,194 9.3%* $53,315 13.3%* Monthly Scheduled Gross Income $13,315 $14,700
Plus Principal Reduction $23,246 $23,246 Annual Scheduled Gross Income $159,780 $176,400
Total Return Before Taxes $60,439 15.1%* $76,561 19.1%* Utilities Paid by Tenant Gas & Electricity
18 RENT ROLL
UNIT NO. MIX CURRENT NOTES PROFORMA
1 2+1 $1,800.00 Renovated Unit $2,050.00
2 2+1 $1,850.00 Renovated Unit | Govt Sub Housing $2,050.00
3 2+1 $1,850.00 Renovated Unit | Govt Sub Housing $2,050.00
4 2+1 $1,850.00 Renovated Unit | Govt Sub Housing $2,050.00
5 2+1 $1,995.00 Renovated Unit | Govt Sub Housing $2,050.00
6 5+2 $2,400.00 Renovated Unit | Govt Sub Housing $2,850.00
7 1+1 $1,570.00 Renovated Unit | Govt Sub Housing | Plans to Convert to 3+2 $1,600.00
***Brokers do not represent the accuracy of any of this information. Buyer to conduct own investigation of all information provided.***
Monthly Rent $13,315 $14,700
Yearly Gross Income $159,780 $176,400
MVP Commercial 19 LOCATION OVERVIEW
CITY OF LOS ANGELES
Location Highlights
• In 2015, leisure and hospitality is the leading industry with 488,100 jobs in Los Angeles. In the same year, this sector added 21,500 jobs which represents 4.6% job growth year after year. • The largest number of manufacturing jobs of any county in the country. • Other major industries include health care, education, and business services. • L.A.’s coastal regions boast some of the best surf spots, amazing oceanfront dining and trendy shops. • Los Angeles has more museums and theatres than any other Los Angeles, the second largest city in the United States, is located city in the United States. Los Angeles has 105 museums and in southern California and is situated in the county of Los Angeles. 225 theatres making it the mecca of arts and culture. This city is known for its sunny climate, sprawling city life, and considered • With its rich cultural diversity, Los Angeles has the most to be the center of the entertainment capital of the world. dynamic dining experiences a city has to offer. Each region
The city of Los Angeles leads its counterparts in several major growth of Los Angeles offers a variety of dining options without ever industries. LA county has more than 87,000 jobs in the fashion leaving the general area. industry surpassing New York city. In addition, Los Angeles houses Source: www.discoverlosangeles.com 700,000 jobs in health services/biomedical field and 190,000 jobs in the aero-space and technology field.
IMPERIAL HIGHWAY PORTFOLIO 20 LOCATION OVERVIEW
GEOGRAPHY The city of Los Angeles, surrounded by the San Gabriel Mountain range and divided by the Santa Monica Mountains, is primarily a desert basin. This city has 75 miles of coastline and altitudes ranging from 9 feet below sea level at Wilmington to 10,080 feet above sea level at Mt. San Antonio. Los Angeles rivers include Rio Hondo, San Gabriel, Santa Clara and Los Angeles rivers.
City of Los Angeles: 472 square miles
County of Los Angeles: 4,084 square miles
Los Angeles Five-County Area: 34,135 square miles
Source: LACity.org, LACounty.org, California State Association of Counties counties.org
MVP Commercial 21 SUBMARKET
South Los Angeles
New community plans to guide development in South and Southeast Los Angeles were unanimously adopted by the Los Angeles City Council last week, paving the way years of future growth in the area.
The two plans, which were considered simultaneously by the council, affect a broad swath of the city covering more than a dozen neighborhoods, including Historic South-Central, Vermont Square, Florence, and Watts.
The plans include a focus on transit-oriented development and revitalization of commercial corridors, while clearly separating housing and industrial sites to prevent future public health hazards. https://la.curbed.com/2017/11/27/16705586/south-la-community-plan-update
22 THE GREATER LOS ANGELES AREA
DOWNTOWN LOS ANGELES HOLLYWOOD SANTA MONICA
Downtown Los Angeles, a large city with Known for its glitz and glam, Hollywood is Renowned for its sunny skies and beaches, an abundance of historic architecture home to film, television and music industries. Santa Monica attracts more than 7 million and cultural attractions, offers incredible Although most studios have moved to visitors a year. This one of a kind city restaurants, hotels with amazing views and neighboring cities, Hollywood still attracts averages more than 300 days of sunshine a a thriving nightlife. In the South Park District millions of visitors each year. Hollywood and year and has some of the best sunsets on of Downtown Los Angeles is L.A. Live, an Highland Center, in the heart of Hollywood, is the west coast. Santa Monica has become entertainment complex, that host popular one of the hottest entertainment centers in a walkable and bike-friendly town allowing attractions like the GRAMMY Museum, Los Angeles. Hollywood is ethnically diverse, easy access to shopping, restaurants and Lucky Strick Lanes and Regal Cinemas. In heavily populated and offers delicious attractions such as the Santa Monica Pier addition, STAPLES Center, adjacent to the multicultural cuisines. and Third Street Promenade. L.A. Live, is home to the Los Angeles Lakers, Clippers, Kings and Sparks.
MVP Commercial 23 DEMOGRAPHICS
POPULATION (2015) ETHNICITY
City of Los Angeles: 4.0 Million Hispanic or Latino (of any race) 47.9%
County of Los Angeles: 10.1 Million Non-Hispanic Whites: 27.5%
Los Angeles Five-County Area: 18.6 Million Asian/Pacific Islander: 13.7%
Source: California Department of Finance, Demographic Research Visit African-American: 8.1%
INCOME American Indian/Others: 2.8%
Median household income: $48,610 “The diverse, multiethnic population of Los Angeles today distinguishes the city as the cultural hub of the Pacific Rim. Mean household income $76,557 People from more than 180 countries, speaking 140 different identified languages, currently call Los Angeles home. Los Median family income: $53,008 Angeles does not have a majority population.” - www.discoverlosangeles.com Mean family income: $83,965
Source: U.S. Census Bureau - 2013 American Community Survey Median non-family income: $38,227
Mean non-family income: $61,155
Source: 2006-2008 American Community Survey
IMPERIAL HIGHWAY PORTFOLIO 24 MAJOR EMPLOYERS
TOP 10 EMPLOYERS IN LOS ANGELES
County of Los Angeles 95,210
Los Angeles Unified School District 75,670
City of Los Angeles (including DWP) 72,600
University of California, Los Angeles 51,010
Kaiser Permanente 41,340
Federal Government (Except Postal Service) 30,600
State of California (non-education) 27,990
University of Southern California 22,160
Target Corp. 20,000
Northrop Grumman Corp. 18,000
Source: http://www.laalmanac.com/employment/em21e.php
MVP Commercial 25 RETAIL CENTERS IN THE GREATER LOS ANGELES AREA
RODEO DRIVE THE GROVE MELROSE AVE BEVERLY CENTER
Rodeo Drive is in the center of The Grove, an entertainment Melrose Avenue is famous for its Beverly Center, eight-story shopping the Golden Triangle. Some of the complex in Los Angeles, features underground and new wave retail mall located at the edge of Beverly most luxurious hotels, shopping brand name stores, chain and local stores which became popular in Hills and West Hollywood, provides and dining in the world occupy restaurants, a large center park with the 1980’s. This destination a shopping experience unlike its this distinguished corridor. The an animated fountain and Pacific attracts visitors from all over the counterparts in the local area. With most prestigious and recogniz- Theatres. Visitors can take a free world for its unique shopping over 100 specialty retail stores, able brands in fashion such as ride to The Grove Trolley which experience, spectacular dining, shoppers are able to get everything Valentino, Saint Laurent, Tiffany travels along First Street between and entertainment. they need in one location. Recently, & Co., Cartier, Rolex, Chanel and The Grove and Famer’s Market. the owners have unveiled their plans Salvatore Ferragamo are situat- to spend $500 million to renovate ed on Rodeo Drive. the Beverly Center.
26 COLLEGES & UNIVERSITIES
Los Angeles County is home to 113 accredited colleges and universities, including such prestigious institutions as the University of Southern California (USC), UCLA, Pepperdine University, Occidental College, Loyola Marymount University and the Art Center College of Design.
Source: LAEDC
University of Southern California University of California, Los Angeles
Pepperdine University Art Center College of Design
MVP Commercial 27 HEALTH CARE CENTERS
According to U.S. News, UCLA Medical Center, Cedars-Sinai Medical Center, Kesk Medical Center of USC and Kaiser Permante Los Angeles Medical Center are ranked in the top 20 hospitals in California.
UCLA Medical Center Cedars-Sinai Medical Center
Keck Medical Center of USC Kaiser Permanente LA Medical
IMPERIAL HIGHWAY PORTFOLIO 28 PARKS AND RECREATION
Griffith Observatory Kenneth Hahn State Recreation Area
Spanning an impressive 4,210 acres, it’s easy to get lost in LA’s largest public Kenneth Hahn is impressive in both size and topography for a park in the green space, much of which remains unchanged from the days when Native middle of the Westside. Americans settled here.
Hancock Park La Brea Lake Hollywood Park
Explore the La Brea Tar Pits, which for over 100 years has unearthed Unlike the touristy turnout just up the road, this park stays quiet throughout the prehistoric fossils, and enjoy the Urban Light sculptures from LACMA which day. The whole family can enjoy the playground, shaded picnic benches and one is within a stone’s throw. of the most fantastic views of the Hollywood Sign.
MVP Commercial 29 30 CONFIDENTIAL DISCLAIMER
This Confidential Memorandum has been prepared by MVP Commercial Investment Real Estate (“MVP”) and is being furnished to you solely for the purpose of your review of the commercial property located at 847, 855, & 863 E Imperial Hwy, Los Angeles, CA 90059. The material contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of MVP Commercial Investment Real Estate and KW Commercial (“Broker”).
By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to MVP as soon as practicable together with all other materials relating to the Property which you may have received from MVP; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of MVP.
This Confidential Memorandum has been prepared by MVP, based upon certain information pertaining to the Property and any information obtained from MVP to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by MVP to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon MVP, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither MVP or KW Commercial, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred.
MVP, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice.
This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memorandum, you agree to release MVP and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. MVP reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time.
MVP Commercial 31 In Association with KW Commercial www.mvpcre.com
Derrick Vartanian Executive Managing Director, Partner 310.301.2353 | [email protected] DRE: #01816119
Jonathan Prakash Executive Managing Director, Partner 310.301.2351 | [email protected] DRE: #01483131
CalBRE 02004120