PRESTIGIOUS DEVELOPMENT SITE: UP TO 73 RESIDENTIAL UNITS | PACIFIC PALISADES, CALIFORNIA DOWNTOWN LOS ANGELES CENTURY CITY MARINA DEL REY WESTWOOD 10 VENICE 405 SANTA MONICA BRENTWOOD SANTA MONICA PIER PACIFIC OCEAN P P A A C C I F IC C O A S PACIFIC PALISADES T H IG H W A Y W SU N SE 17030 T B W SUNSET BLVD. L site is located approximately V D D 400 feet from the shoreline 1 conceptual rendering BIDS ARE DUE: FRIDAY, JUNE 25, 2021 BY 5PM PRICE: $10,595,000 SUNSET CANYONSANTA YNEZ LAKE 17030 W SUNSET BOULEVARD www.SunsetCanyon-cbre.com The property has 180º ocean and “queen’s necklace” views. TOPANGA MALIBU MALIBU PIER PACIFIC OCEAN 1 PACIFIC PALISADES P A C I F I C C 17030 O A W SUNSET BLVD. S T H IG H W A Y W S UNSE T BLV D site is located approximately 400 feet from the shoreline © 2021 CBRE, Inc. All Rights Reserved. SHERMAN OAKS The property has current geological approval to build WESTWOOD up to 49 apartment units. 405 BRENTWOOD PACIFIC PALISADES SANTA YNEZ LAKE 17030 W SUNSET BLVD. V D W SUNSE T BL 1 AY H W IG H T S A O C IC IF C A PACIFIC OCEAN P site is located approximately 400 feet from the shoreline conceptual rendering SITE PEPPERDINE UNIVERSITY PACIFIC OCEAN PALISADES SHOPPING VILLAGE RIVIERA COUNTRY CLUB SITE WILL ROGERS BEACH PACIFIC OCEAN EXECUTIVE TABLE OF 01 SUMMARY CONTENTS PROPERTY 02 DESCRIPTION CONCEPTUAL 03 DEVELOPMENT LAURIE LUSTIG-BOWER Executive Vice President AREA Lic. 00979360 OVERVIEW +1 310 550 2556 04 [email protected] KAMRAN PAYDAR MARKET First Vice President OVERVIEW Lic. 01242590 05 T +1 310 550 2529 [email protected] EXECUTIVE SUMMARY CBRE, Inc. is pleased to present for sale 17030 W. Sunset Boulevard, a premier Boasting an irreplaceable Southern California surf- development opportunity for up to 73 luxury multifamily residential units located in the and-sun location, the property sits just ±400 feet from upscale Pacific Palisades neighborhood of coastal Los Angeles, California. the Pacific Ocean and is situated with approximately 99 feet of frontage along iconic Sunset Boulevard. The site is located in one of the most desirable residential communities in the Western United States, abounds with stunning natural beauty, and is surrounded by some of the nation’s most appealing demographics with a highly educated population within a 3-mile radius earning projected 2024 average household incomes of $257,691. Pacific Palisades is known as the spot “Where the Mountains Meet the Sea” and is internationally popular among tourists. Visitors come throughout the year to enjoy the famed Getty Villa Museum, legendary Will Rogers Polo Club and State Park, the beautiful weather, and breathtaking coastline. 17030 W SUNSET BLVD. Bids are due Friday, June 25, 2021 BY 5PM Price: $10,595,000 For additional information please visit www.SunsetCanyon-cbre.com OPPORTUNITY HIGHLIGHTS • Irreplaceable coastal Los Angeles property • Local restaurants and shops include: Mastro’s Ocean Club, Il Ristorante Di Giorgio Baldi, Gladstones and Gelson’s Market. • Exceptional Pacific Palisades location O Site is located approximately 400 feet from the shore line. • Proximate to Santa Monica, Brentwood, Marina del Rey, Malibu O Approximately 99 feet of frontage on iconic Sunset Boulevard O Breathtaking natural beauty • Short drive to Santa Monica O Famed Pacific Coast Highway O Silicon Beach tech employers O Abundance of restaurants, retailers, hotels • Located near Caruso’s Palisades Village retail and entertainment venues including Third center. This Pacific Palisades walkable town Street Promenade center features uniquely curated boutiques, O Santa Monica Pier food experiences, a grocer, central park space, and a movie theater. • Convenient access to West LA and South Bay office employment • Opportunity for value creation through entitlements • Minutes away to Malibu’s coastline destinations • Strong market demand for luxury residential product DEMOGRAPHIC HIGHLIGHTS 3-MILE RADIUS $257,691 $2,000,000 78.5% 2024 Projected Average 2019 Average Household Have a Bachelor’s, Master’s, Household Income Unit Value Professional, or Doctoral Degree PROPERTY DESCRIPTION Address 17030 W. Sunset Boulevard Pacific Palisades, California 90272 Submarket Brentwood-Pacific Palisades Assessor Parcel Number 4415-020-008 Estimated Lot Area 42,539 square feet, 0.98 Acres Current Zoning [Q] R3-1 Entitled No Ownership Interest Fee Simple Council District Council District 11, Councilmember Mike Bonin Approximately 99 feet of frontage on Sunset Boulevard. Site is located approximately 400 feet from the shore line. 17030 Sunset Blvd. Overview of Development Potential* Zoning [Q}R3-1 DEVELOPMENT POTENTIAL (BY-RIGHT) DEVELOPMENT POTENTIAL (WITH TRANSIT ORIENTED COMMUNITY OR DENSITY BONUS) Maximum FAR 3:1 Maximum FAR 4.05:1 Maximum Height 45 Feet Maximum Height 56 Feet Max Buildable Area, Footprint 35,467 Feet Max Buildable Area, Footprint 35,991 Feet Max Buildable Area, Envelope 106,401 Feet Max Buildable Area, Envelope 143,641 Feet Max Dwelling Units 53 Max Dwelling Units 73 Affordable Units Required None At least 11% for Very Low Income, 20% for Low Income, Affordable Units Required or 30% for Moderate Income (For Sale) JURISDICTIONAL Land Use Medium Residential Area Planning Commission West Los Angeles Community Planning Area Brentwood-Pacific Palisades conceptual rendering Notes Per ORD-170768, Site is subject to alternative height, setback, and parking requirements. Development Plans on this property will be subject to review by the California Coastal Commission. Property is subject to the City of Los Angeles Baseline Hillside Ordinance, which could limit the development potential of the site. *Source: Brick+Work The full Brick+Work report and Q Condition exhibit are posted in the data room via www.SunsetCanyon-cbre.com CONCEPTUAL DEVELOPMENT Conceptual Development The Canyon Trail The design can be described as a mass that ruptures in reaction to urban, climate, views and environmental considerations. This rupture simultaneously activates public programs and creates a circulation path. The canyon trail behaves as a fluid and continuous circulation path that stimulates perception through light, material, nature and differentiated spaces that expand and contract according to their use. Public spaces are organized sequentially through it, starting with the foyer, moving through the walking trail and “rice fields”, and culminating in the “water creek”. Along the way look-out points and rest areas offer views of the Pacific Ocean and the Santa Monica Mountains. The canyon trail increases the energy efficiency of the proposal by allowing higher sun exposure and natural ventilation which in turn reduce the use of fossil fuel energy sources for heating and cooling. Conceptual Development Proposed Building Mass Fragmented volumes relate to the existing neighborhood scale Conceptual Development Profile Conceptual Development CONCEPTUAL PROJECT DATA Development of a multi-unit apartment building Address: 17030 W. Sunset Blvd. Los Angeles, CA 90272 Site area: 42,500 SF Building foot print: 50% Greenscape: 50% Number of units: 49 Less than 75% of what is allowable as per building code Conceptual Development Unit Configurations UNIT TYPE A UNIT TYPE B UNIT TYPE C Conceptual Development Concept Diagrams PROPOSED GREENSPACE SUNSET CANYON TRAIL ROOFTOP GARDEN Fragmented volume creates Acts as a pedestrian circulation path Increases greenscape, collects a balanced ratio between as well as storm water run off collector energy through PV cells and greenscape and built area (used for greenscape irrigation) reduces solar heat gain Conceptual Development Concept Diagrams NATURAL VENTILATION BRISE SOLEIL INCREASED NATURAL DAYLIGHT Reduces reliance on fossil fuels Overhangs shade the South facing Separated building masses increase and provides an energy source of glass from direct sun exposure the number of facades that receive heating and cooling therefore reducing heat gain natural daylight and therefore decrease energy use Conceptual Development Concept Diagrams OCEAN VIEWS ENVIRONMENTAL DESIGN NO VARIANCES Separate building masses Geothermal cooling/ With this configuration the project create ocean view corridors heating radiant slab requires no variances and is targeted at LEED silver Conceptual Development Light Analysis Apartments with high light exposure 24 Apartments with medium light exposure 12 Apartments with low light exposure 13 AREA OVERVIEW Pacific Palisades Pacific Palisades is a coastal neighborhood and district within the City of Los Angeles, located among Brentwood to the east, Malibu to the west, Santa Monica to the southeast, and the Santa Monica Mountains to the north. Pacific Palisades is tucked in the slope of the Santa Monica Mountains and is home to approximately 24,333 residents. Pacific Palisades is an extremely affluent and primarily residential community with a mixture of large private homes and average household income exceeding $250,000. The Pacific Palisades is known as the place “Where the Mountains Meet the Sea” and is home to many Hollywood celebrities and high-profile industry people. Several TV shows and movies have also been filmed in Pacific Palisades over the years including Baywatch and most recently, Project X. PROXIMITY TO 17030 SUNSET, PACIFIC PALISADES MALIBU: 20 minutes BEVERLY HILLS: 30 minutes SANTA MONICA: 10 minutes SHERMAN OAKS: 30 minutes BRENTWOOD: 14 minutes DOWNTOWN LOS ANGELES: MARINA DEL REY: 24 minutes 30 minutes Pacific Palisades benefits from a highly educated population where more than 75 percent of working-age adults have a bachelor’s degree or higher. The City is broken down into specific areas such as The Alphabet Streets also known as “North Village”, are north of Sunset Blvd. and are characterized by narrow streets. The south section of Pacific Palisades includes The Riviera Country Club and Huntington Palisades which are affluent suburbs. Pacific Palisades is home to The Riviera Country Club exclusive championship golf course. The annual Professional Golfers’ Association competition held at The Riviera was first played in 1926 as the “Los Angeles Open” and has hosted many of the world’s most winning golfers including Jack Nicklaus, Arnold Palmer and Tiger Woods.