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355 East Manchester Blvd 355 EAST MANCHESTER BLVD Parham Khoshbakhtian | Senior Vice President 310.878.6896 | [email protected] Offering Memorandum Cal DRE Lic #01446947 Jenny Eng | Associate 213.631.8788 | [email protected] 101 S Prairie Ave Cal DRE Lic #01931224 Inglewood, CA 90301 NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 1 Section 1 Property Information TABLE OF • Executive Summary CONTENTS • Property Description • Property Details • Property Photos • Site Plan Section 2 Location Information • Location Overview • Location Maps • Area Overview • Property Location • Neighboring Development Projects No warranty, express or implied, is made as to the accuracy of the information contained herein. this information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. NAI Capital CA DRE #01990696 PROPERTY INFORMATION Executive Summary Property Description Property Details Property Photos Site Plan PROPERTY DETAILS 101-105 S Prairie Ave & 661 Manchester Ter, Address Inglewood CA 90301 Bldg Size 13,494 SF Lot Size 34,310 SF APN 4021-004-040 / 4021-004-025 / 4021-004-029 Zoning INRM Year Built 1956 No. of Stories 1 NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 4 PROPERTY DETAILS NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 5 PARCEL MAP NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 6 PROPERTY ZONING FIGURE 3.1 Downtown Zoning Districts • Lot SF – 34,310 SF approximate Stepney St. Downtown Plan Boundary EucalyptusEucalyptusAv. Centinela Av. LaLa BreaBreaAv. Av. • Permitted Uses – Multifamily, wide range of medical, Board & Lodging InglewoodInglewoodAv. Av. Exton Av. Crenshaw/LAX Line houses, private school.Special use permit may be required depending on TOD Mixed Use 1 (MU-1) commercial use. (100% residential building to be built to R3 requirements TOD Mixed Use 2 (MU-2) IMC 12-21) 1 Market St. TOD Mixed Use Corridor (MU-C) Warren Ln. Hazel St. Historic Core (HC) • Lot Area Per Unit – R3 density 1,100 SF of land area per dwelling unit, Edgewood St. Residential Single Family (R-1) Juniper St. Units to conform to minimum size requirements IMC 12-6. Allowable Beach Av. Residential Limited Multi Family (R-2) Hyde Park Bl. increase with state mandated affordable density bonuses. Hyde Park Bl. Residential Limited Multi Family (R-2A) La Colina Dr. Residential Multiple Family (R-3) • Commercial / Mixed use building - 60% Lot coverage Grace Av. Residential Multiple Family (R-4) Oak St. • Mixed-use building - 20% min. / commercial required. Florence Ave. Residential Medical (R-M) • Side Yard Setback – Min 10’ for commercial and mixed use. 100% General Commercial (C-2) Cable Pl. Prairie Av. Prairie Prairie Av. Prairie Heavy Commercial (C-3) residential projects refer to R3 standards Railroad Pl. Civic Center (C-C) Howland Dr. • Front Yard Setback – Min 15’ for commercial and mixed use. 100% Light Manufacturing (M-1) Hillcrest Bl. Hillcrest Hillcrest Bl. Hillcrest residential projects refer to R3 standards Regent St. Parking (P-1) Regent Cir. Regent Cir. Open Space (O-S) • Rear Yard Setback – Min 20’ for commercial and mixed use. 100% Aerick St. Locust St. Locust Locust St. Locust Transportation Corridor (T-C) Fir Av. Fir residential projects refer to R3 standards Queen St. Av. Fir • Height Limit – 6 stories or 75 Feet for Commercial and Mixed use projects. For 100% residential projects refer to R3 standards. Manchester Bl. Manchester Ter. Market St. Market St. Manchester Dr. • Parking – per TOD requirements Olive St. Hillcrest Bl. General commercial 2.5 stalls / 1,000 SF. For specific medical uses see IMC. 0-1 Bedrooms require 1 stall, 2 Bedroom require 1.5 stalls, for projects over 20 units 0.1 stalls for guest 2 minute • Planned Assembly Development – Lot size allows for PAD per IMC 12-39 Kelso St.Spruce Av. 2 minute hoverboard N Grevillea Av. Grevillea Grevillea Av. Grevillea Forum walk (480 ft) (1,060 ft) / TOD Downtown Plan (1 & 3) 2 minute bike (1,760 ft) • Zoning - Inglewood R-M (Residential/Medical) (1 IMC 12-22) Feet 0 500 1,000 2,000 3,000 • Applicable Overlays: Medical Enterprise Overlay Zone Standards (2 IMC 12-22.29) ADOPTED OCT. 2016 31 • TOD Downtown Plan http://www.qcode.us/codes/ inglewood/?topic=12&frames=on Above information is for reference only and should be independently confirmed by interested parties with Inglewood planning http://inglewood.arroyogroup.com/wp-content/uploads/2017/01/The- department. All information was compiled via Inglewood Municipal code: http://www.qcode.us/codes/inglewood/?topic=12&frames=on NewDowntown-Fairview-Heights-TOD-Plan-Design-Guidelines-lo-res.pdf This zoning map is published for the use of NAI Capital, Inc. and its clients only. Redistribution in whole or parts to any third party without the prior written consent of NAI Capital, Inc. is strictly prohibited. This zoning map contains information from sources which we believe to be reliable, but we make no representation, warranty, or guaranty to its accuracy. Logos are for identification purposes only and may be trademarks of their respective companies. For more information regarding zoning info, please contact Aero Collective at [email protected] or 323-553-2376 NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 7 LOCATION INFORMATION Location Overview Location Maps Area Overview Property Location Neighboring Development Projects LOCATION OVERVIEW This property is located in the City of Inglewood on the entire city block of Prairie Ave between Queen St. and Manchester Terr. Inglewood is centrally located within Los Angeles County and serves as the link between the northern and southern halves of Los Angeles. It is also an entry point for over 60 million travelers who come through LAX, the sixth busiest airport in the world. Inglewood is currently experiencing a transformation that will reshape the landscape of this critical Westside city. NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 9 LOCATION MAPS NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 10 AREA OVERVIEW The City of Inglewood is currently experiencing a transformation that will reshape the landscape of this critical Westside city. The city is home to the new Sofi NFL Stadium, which will be home to the Rams and Charges as well as being one of the preeminent concert venues in the world. The plan is for the stadium to host everything from the Olympics opening ceremonies and World Cup games as well as a NCAA bowl game. The neighboring Hollywood Park Tomorrow project is expected to mix over 500,000 square feet of retail space, which includes dozens of shops and restaurants, a luxury movie theater and a refurbished casino, with approximately 2,500 residential units, several hundred thousand square feet of office space, a 300-room hotel, and 25 acres of park space. This area is also the prospective home of the NBA’s Los Angeles Clippers, where owner Steve Ballmer is planning on building the world’s most advanced arena. NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 11 5 MI PROPERTY 3 MI LOCATION 1 MI DEMOGRAPHICS 1 Mile 3 Miles 5 Miles Population 33,286 313,630 912,751 Households 12,796 110,101 303,958 Average HH Income $64,154 $77,512 $77,137 Total Businesses 1,405 9,687 28,887 Total Employees 12,293 87,076 326,831 NAI CAPITAL | 101 S PRAIRIE AVE | INGLEWOOD, CA | 12 SoFi Stadium NEIGHBORING The LA Rams are back in Los Angeles after receiving approval from the NFL in January of 2016. They will return to a brand new 80,000- seat stadium in the city of Inglewood. Named the City of Champions DEVELOPMENT Stadium, it forms part of a larger plan that includes a 300 acre multi-use redevelopment project. This redevelopment project had been on the PROJECTS books for nearly a decade. The new stadium will replace the Hollywood Park Racetrack and Casino, which was demolished earlier, and will be large enough to accommodate two NFL teams. It is currently on track for completion in 2020, which would be just in time to host the 2021 National Football League Super Bowl. Construction on the stadium broke ground on August 13, 2016. The project is scheduled to be completed in August of 2019. The Stadium is being developed by Stan Kroenke, owner of the Rams, and Stockbridge Capital, the primary developer of Hollywood Park Tomorrow. City of Champions Stadium out-bid two competing proposals for the Los Angeles NFL Stadium, one in Carson and the other in the City of Industry. The City of Champions Stadium is allowed to house two NFL teams. The development project is partnered with Stockbridge Capital’s redevelopment of Hollywood Park, which will be home to a dynamic mixed-used, master-planned neighborhood that will include thousands of quality-crafted single family homes, townhouses, and apartments, in addition to a luxury hotel, casino, and retail and office district. Inglewood Market Gateway At around 317,000 SF total, the building lies on a lot of 2.7 acres with 240 apartments units starting on average at $2,500 per Inglewood month for a one bedroom. The site also boasts close proximity Market to thriving emerging neighborhoods such as Ladera Heights, Gateway Fox Hills, and Cheviot Hills which saw housing prices jump over 35% between first quarter of 2016 and first quarter of 2017. The site benefits from being directly across the street from the Florence / La Brea Station which is slated to open in Spring 2020.
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