17-Unit Small Lot Subdivision Development Opportunity in Los Angeles’ Eagle Rock Neighborhood

4035 EAGLE ROCK BOULEVARD LOS ANGELES, CA 90065

17-unit small lot subdivision development opportunity in Los Angeles’ Eagle Rock neighborhood. CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

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EXCLUSIVELY LISTED BY: NEEMA AHADIAN IMAN MOSSANEN Senior Vice President of Investments Associate of Investments Tel: (310) 909-5444 Tel: (310) 909-5422 Fax: (435) 915-3662 Fax: (435) 915-3662 [email protected] [email protected] License: CA 01346750 License: CA 01978006

2 EXECUTIVE DEVELOPMENT SALES AREA 01 SUMMARY 02 INFORMATION 03 COMPARABLES 04 OVERVIEW

Site East Elevation

3 EXECUTIVE SUMMARY

4035 EAGLE ROCK BOULEVARD, LOS ANGELES, CA 90065

4035 Eagle Rock is 17-unit small lot subdivision development opportunity located in Los Angeles’ Eagle Rock neighborhood between Verdugo Rd and York Blvd, an established neighborhood with numerous development projects underway.

The subject property features a large 26,499 square foot lot, zoned [Q]C2-1VL-CDO that will be delivered permit RTI for 3 mixed-use units with ground level commercial space and 14 solely residential units.

Centrally located with close proximity to some of Los Angeles largest employers and some of LA’s major central job hubs. Eagle Rock is strategically positioned along California State Route 2 providing residents easy access to centers of commerce like Downtown Glendale, Burbank, Pasadena, and Downtown Los Angeles.

Located just minutes from the Highland Park Metro Station, part of the Metro Union Station/San Gabriel Line that serves the cities of Los Angeles, Pasadena, Arcadia, and Downtown Azusa; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area.

The subject property features a high walk score of 79 with close proximity to transportation options as well as a vibrant neighborhood cultural life including numerous art galleries, boutiques, bars, and restaurants along the intersection of Eagle Rock Blvd & Colorado Blvd. High academic ratings and test scores among Eagle Rock area public schools have been a huge draw to the large population of young couples looking to establish their families in the area.

4 EAGLE ROCK BOULEVARD

5 PROPERTY INFORMATION

4035 Eagle Rock Blvd., ADDRESS Los Angeles, CA 90065

OFFERING PRICE $4,250,000

PRICE PER SF (LAND) $160

LOT AREA 26,499 SF

SALE PRICE PER UNIT $250,000

Entitlement of 17 Small Lot Homes Approved by L.A. SALE CONTINGENCY City Planning Dept. Delivered ASSUMED permit RTI at the close of escrow.

APN 5473-004-052

ZONING [Q]C2-1VL-CDO

COUNCIL DISTRICT 14

Site East Elevation - Unit D

6 7 134

GLENDALE

EAGLE ROCK

4035 EAGLE ROCK BOULEVARD LOS ANGELES, CA 90065

EAGLE ROCK BOULEVARD 8 INVESTMENT HIGHLIGHTS

4037 Eagle Rock is 17-unit small lot subdivision development opportunity located in Los Angeles’ Eagle Rock neighborhood between Verdugo Rd and York Blvd, an established neighborhood with numerous development projects underway.

HIGHLAND Centrally located with close proximity to some of Los Angeles PARK largest employers and some of LA’s major central job hubs. Eagle Rock is strategically positioned along California State Route 2 providing residents easy access to centers of commerce like Downtown Glendale, Burbank, Pasadena, and Downtown Los Angeles.

9 SILVER LAKE ELYSIAN PARK

LA RIVER

GLASSELL PARK RECREATION CENTER COMPLEX

COFFEE

GLASSELL PARK EAGLE ROCK BOULEVARD ROCK EAGLE

10 LOS FELIZ

ATWATER VILLAGE

COFFEE

4035 EAGLE ROCK BOULEVARD LOS ANGELES, CA 90065

11 PROPERTY DEVELOPMENT INFO

PROJECT DESCRIPTION 17 Total Units (3) Type A: 4 Story Mixed-Use Units with private 2 car garage Commercial at Ground Floor, Residential Above (6) Type B: 4 Story Residential Units with private 2 car garage (6) Type C: 4 Story Residential Units with private 2 car garage (2) Type D: 4 Story Residential Units with private 2 car garage

Average Unit Size: 1,844 SF Grand Total: 31,353 SF

DEVELOPMENT HIGHLIGHTS • Integrated driveway and pedestrian access • Community trash enclosures • 4 guest parking spaces • Grasscrete at unit driveway

12 SUMMARY

FLOOR PLAN A FLOOR PLAN B FLOOR PLAN C FLOOR PLAN D

No. of Units 3 6 6 2

Residential Floor Area 2,002 SF 1,672 SF 1,876 SF 1,713 SF

Commercial Floor Area 211 SF none none none

No. Bedroom 3 4 4 3

No. Bathrooms 3.5 4.5 4.5 3.5

Est Sales Price $1,007,000 $855,000 $905,000 $866,000

Est. Sales Price Per SF $455 $511 $482 $506 4-Story Mixed-Use Units with private 2 car 4 – Story Residential 4-Story Residential 4-Story Residential Unit Type garage. Commercial Units with private 2 car Units with private 2 car Units with private 2 car at Ground Floor, garage garage garage Residential above Levels 4 4 4 4

Parking 2 2 2 2

13 SITE PLAN

14 4035 EAGLE ROCK BOULEVARD LOS ANGELES, CA 90065

EAGLE ROCK BOULEVARD

15 TYPE A FLOOR PLAN

16 TYPE B FLOOR PLAN

17 TYPE C FLOOR PLAN

18 TYPE D FLOOR PLAN

19 SALES COMPARABLES

1 2 3

DISTANCE 1.2 mi DISTANCE 0.4 MI DISTANCE 1.7 MI 2224.5 STRATA LANE 1548 W CHIA WAY 4335 N MALLOW ROAD ADDRESS ADDRESS ADDRESS (LOS ANGELES) (LOS ANGELES) (EAGLE ROCK) SALE PRICE $769,000 SALE PRICE $914,469 SALE PRICE $972,693 SUB TYPE SFR/D SUB TYPE SFR/A SUB TYPE SFR/D PRICE PER SF $502.61 PRICE PER SF $481.30 PRICE PER SF $512.21 BR/BA 3/4,0,0,0 BR/BA 3/2,0,1,0 BR/BA 3/2,0,1,0 SQFT 1530/ SQFT 1900/B SQFT 1899/B YR BUILT 2016 YR BUILT 2018 YR BUILT 2018 LSQFT/AC 0 LSQFT/AC 1,521/0.0349 LSQFT/AC 2,298/0.0528 BAC 2.5 BAC 2.5 BAC 2.5 SALE DATE 3/22/2019 SALE DATE 9/26/2018 SALE DATE 6/21/2019

20 SALES COMPARABLES

4 5 6

DISTANCE 1.9 MI DISTANCE 2.3 MI DISTANCE 3.2 MI 118 S AVENUE 50, #106 315 S AVENUE 57 6893 POLLARD ST ADDRESS ADDRESS ADDRESS (HIGHLAND PARK) (LOS ANGELES) (HIGHLAND PARK) SALE PRICE $789,990 SALE PRICE $845,000 SALE PRICE $858,883 SUB TYPE TWNHS/A SUB TYPE SFR/D SUB TYPE SFR/D PRICE PER SF $553.21 PRICE PER SF $437.60 PRICE PER SF $447.57 BR/BA 2/2,0,1,0 BR/BA 3/2,1,0,1 BR/BA 3/3,0,1,0 SQFT 1428/B SQFT 1931/D SQFT 1919/S YR BUILT 2017/BLD YR BUILT 2018 YR BUILT 2018/BLD LSQFT/AC 1,428/0.0328 LSQFT/AC 1,795/0.0412 LSQFT/AC 1,300/0.0298 BAC 3 BAC 2.5 BAC 5 SALE DATE 8/31/2018 SALE DATE 5/24/2019 SALE DATE 12/1/2018

21 SALES COMPARABLES

7 8 9

DISTANCE 2.0 MI DISTANCE 2.8 MI DISTANCE 2.2 MI 133 S BOEING LN 2210 POLYSCOPE PL 2753 WAVERLY DR ADDRESS ADDRESS ADDRESS (HIGHLAND PARK) (LOS ANGELES) #804 (SILVER LAKE) SALE PRICE $966,692 SALE PRICE $890,000 SALE PRICE $1,049,900 SUB TYPE SFR/D SUB TYPE SFR/D SUB TYPE TWNHS/A PRICE PER SF $492.71 PRICE PER SF $632.55 PRICE PER SF $632.09 BR/BA 3/3,0,1,0 BR/BA 3/1,1,1,0 BR/BA 3/2,0,1,0 SQFT 1962/S SQFT 1407/A SQFT 1661/B YR BUILT 2018/SLR YR BUILT 2015/ASR YR BUILT 2017/BLD LSQFT/AC 1,311/0.0301 LSQFT/AC 1,525/0.035 LSQFT/AC BAC 2.5 BAC 2.5 BAC 2.5 SALE DATE 9/13/2018 SALE DATE 6/3/2019 SALE DATE 8/22/2018

22 10 1

9 4 7 5

DISTANCE 3.8 MI 2203 ROSEY WAY ADDRESS (LOS ANGELES) 8 SALE PRICE $1,050,000 SUB TYPE SFR/D PRICE PER SF $646.55 BR/BA 3/4,0,0,0 10 SQFT 1624/ YR BUILT 2015 LSQFT/AC 1,656/0.038 BAC 2.5 SALE DATE 12/10/2018

23 AREA OVERVIEW

GLASSELL PARK EAGLE ROCK Glassell Park is a community located between Atwater Village, Eagle Rock is located in Northeast Los Angeles in the San Eagle Rock, Highland Park, and Mount Washington. The area Rafael Hills. Pasadena can be found to its east. Highland Park is bordered by the Los Angeles River to the South, the Verdugo to its south. Silver Lake to its southwest and Glendale to the mountains to the north, and Mount Washington to the east. northwest.

The neighborhood is located in a relatively hilly region of the Eagle Rock earned its name due to the large rock outcropping San Rafael Hills mountain range. Due to its hilly geography, that resembles the profile of an eagle’s head at certain parts of many Glassell Park homes are built on hillsides with views of the the day when the shadow can be seen. In 1911, Eagle Rock surrounding area. The neighborhood gets its name from Andrew became a city and it joined Los Angeles in 1923. Glassell, a famous attorney and developer who was granted a large portion of the land during the Great Partition of 1871. Since then, Eagle Rock has become an ethnically diverse, high- income neighborhood. It houses Occidental College and has a Glassell Park has experienced tremendous change in the last 10 number of historically significant buildings. years. Hipsters from Atwater Village, Highland Park, and Silverlake are migrating into Glassell Park and occupying the apartments Eagle Rock is a family based community with new, hip eaters and homes. popping up, including The Oinkster, Red Herring, Little Beast, Eagle Rock Brewery Public House, etc.. Colorado Boulevard is The area provides a certain level of affordability that allows its main thoroughfare millennials to purchase or rent their own little piece of Los Angeles at a fraction of the cost of the rest of Los Angeles. Quaint coffee shops, trendy night clubs, and local breweries line the narrow commercial streets of Glassell Park providing entertainment and dining to local residents. Median home prices in Glassell Park have increased by 10.5% over the past 1 year, and values are expected to continue rising as millennials keep pouring in, and the city continues investing in infrastructure. Several large development/ improvement projects are expected to hit the area in the next 5 years, making it an attractive area to investors seeking value where nobody else is looking.

24 NORTHEAST LOS ANGELES 1 MILE 3 MILES 5 MILES 2019 Population 31,660 380,347 1,213,036 GLENDALE 2019 Households 13,244 126,107 409,093 2019 Owner Occ. Housing Units 47.23% 36.16% 28.51% 2019 Renter Occ. Housing Units 52.77% 63.84% 71.49% 2019 Vacant 2.36% 2.76% 2.88%

PASADENA GRIFFITH PARK EAGLE ROCK

GLASSELL PARK HIGHLAND PARK

SILVER LAKE MOUNT ELYSIAN VALLEY WASHINGTON

CYPRESS PARK MONTECITO HEIGHTS

LINCOLN HEIGHTS 25 AREA OVERVIEW

LA RIVER REVITALIZATION PROJECT Glassell Park stands to benefit greatly from the city's $1.6-billion Los Angeles River revitalization project.

The proposed Project involves restoring 11 miles of the Los Angeles River from approximately Griffith Park to downtown Los Angeles, while maintaining existing levels of flood risk management. Restoration measures considered include RETAILERS NEARBY creation and reestablishment of historic riparian strand and freshwater marsh habitat to support increased populations of wildlife and enhance habitat connectivity within the study area, as well as to provide opportunities for connectivity to ecological zones, such as the Santa Monica Mountains, Verdugo Hills, Elysian Hills, and San Gabriel Mountains. Restoration includes the reintroduction of ecological and physical processes, such as a more natural hydrologic and hydraulic regime that reconnects the river to historic floodplains and tributaries, TAYLOR YARD VILLAGE PROJECT reduced flow velocities, increased infiltration, improved natural Nestled alongside the banks of the LA River in Cypress Park, sediment processes, and improved water quality. The proposed the 17-acre Taylor Yard Village masterplan includes 95 paired Project also includes opportunities for passive recreation that and detached SFR homes plus 262 apartments. Just steps is compatible with the restored environment. away from the 40-acre Rio de Los Angeles State Park, residents will enjoy a central paseo including lush landscaping and 25,000 sqft of retail space in the future. The Taylor Yard Village offers the rarest of opportunities to live your dream in the heart of Los Angeles. Half of the project has been completed and is currently being leased, while the other half is still undergoing construction.

26 AREA OVERVIEW

The subject property DEMOGRAPHICS features a high walk score of 79 with 1 MILE % 3 MILE % 5 MILE % close proximity to transportation 2019 Estimate - - 285,038 - 743,577 - options“ as well as a vibrant 2010 Census - - 277,139 - 725,502 - neighborhood cultural life including Average Age - - 39.40 - 39.00 - numerous art galleries, boutiques, bars, 2019 Avg Household Income - - $84,023 - $81,956 - and restaurants along the intersection 2019 Med Household Income - - $58,648 - $55,463 - of Eagle Rock Blvd. & Colorado Blvd. 2019 Median Home Value - - $686,741 - $731,848 -

SCHOOLS 2019 Population By Race 30,739 - 285,038 - 743,577 - High academic ratings and test scores among White 20,602 67.02% 209,090 73.36% 529,972 71.27% Eagle Rock area public schools have been a Black 727 2.37% 6,811 2.39% 26,555 3.57% huge draw to the large population of young Am. Indian & Alaskan 388 1.26% 3,885 1.36% 12,003 1.61% couples looking to establish their families in the area. Asian 8,047 26.18% 55,073 19.32% 150,272 20.21% Hawaiian & Pacific Island 65 0.21% 542 0.19% 1,513 0.20%

GREAT Other 910 2.96% 9,637 3.38% 23,262 3.13% PARENT SCHOOL NAME SCHOOLS RATING RATING 2019 Population by Education 23,328 - 221,755 - 580,862 - Delevan Drive 4 out of 5 9 Some High School, No Diploma 4,648 19.92% 46,105 20.79% 129,895 22.36% Elementary School stars High School Grad 3,923 16.82% 38,381 17.31% 97,756 16.83% Public - K to 6 4 out of 5 Some College, No Degree 5,470 23.45% 51,815 23.37% 126,106 21.71% Eagle Rock High School 7 stars Associate Degree 1,523 6.53% 17,624 7.95% 47,221 8.13%

Public - 7 to 12 Bachelor Degree 5,697 24.42% 46,261 20.86% 119,372 20.55%

Advanced Degree 2,067 8.86% 21,569 9.73% 60,512 10.42%