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

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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. NON-ENDORSEMENT NOTICE Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. 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 5 EAGLE ROCK BOULEVARD 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. 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. 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. 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. 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
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