Fully Entitled Development Site to Build 12 Small Lot Homes1025 With North WilcoxAttached Avenue |Garages Hollywood, CA Ready to Issue for Building Permits 1025 North Wilcox Avenue | Hollywood, CA CAPITOL RECORDS HOLLYWOOD FWY PANTAGES THEATER W HOTEL SUNSET BRONSON STUDIOS AVALON HOLLYWOOD/VINE METRO HOLLYWOOD PALLADIUM SUNSET GOWER STUDIOS LOS ANGELES FILM SCHOOL ARCLIGHT CINEMAS HOLLYWOOD ATHLETIC CLUB WARWICK HOLLYWOOD CAHUENGA BOULEVARD STRATFORD SCHOOL HOLLYWOOD RECREATION CENTER GOLDS GYM HUDSON THEATRES EDGE PERFORMING ARTS CENTER SANTA MONICA BOULEVARDSITE Located in a Designated Opportunity Zone Census Tract www.1025WilcoxLofts.com | Price Reduction: $4,950,000 $4,500,000 LAURIE LUSTIG-BOWER KAMRAN PAYDAR Executive Vice President Senior SalesRAO’S DirectorHOLLYWOOD +1 310 550 2556 +1 310 550 2529 [email protected] [email protected] Lic. 00979360 Lic. 01242590 1 1025 North Wilcox Avenue | Hollywood, CA TABLE OF CONTENTS CONTACT LAURIE LUSTIG-BOWER Executive Vice President EXECUTIVE SUMMARY +1 310 550 2556 7 [email protected] Lic. 00979360 KAMRAN PAYDAR SALES COMPARABLES 14 Senior Sales Director +1 310 550 2529 [email protected] Lic. 01242590 AREA OVERVIEW 22 www.1025WilcoxLofts.com 2 1025 North Wilcox Avenue | Hollywood, CA DOWNTOWN LOS ANGELES KOREATOWN HOLLYWOOD FOREVER CEMETERY LEMONADE LARCHMONT VILLAGE PARAMOUNT PICTURES STUDIO CAFE GRATITUDE PAVILIONS MELROSE AVENUE CVS PHARMACY LOS ANGELES TENNIS CLUB VINE STREET ELEMENTARY PROVIDENCE MILK STUDIOS WILSHIRE COUNTRY CLUB EDGE PERFORMING ARTS CENTER PUBLIC STORAGE GOLDS GYM SITE SANTA MONICA BOULEVARD GRUB RAO’S HOLLYWOOD HOLLYWOOD SUNSET LAS PALMAS STUDIOS 3 1025 North Wilcox Avenue | Hollywood, CA SANTA MONICA BOULEVARD SEWARD STREET ROMAINE STREET HUDSON AVENUE SITE WILCOX AVENUE 4 1025 North Wilcox Avenue | Hollywood, CA PROJECT RENDERING 5 1025 North Wilcox Avenue | Hollywood, CA SITE PACIFIC OCEAN 6 1025 North Wilcox Avenue | Hollywood, CA EXECUTIVE SUMMARY 1 SITE 7 1025 North Wilcox Avenue | Hollywood, CA THE OFFERING CBRE, Inc. as exclusive agent is pleased to present for sale Wilcox Homes: A fully entitled, Ready To Issue development site to build 12 small lot ordinance townhomes with attached garages in world famous, vibrant, Hollywood, California. Located at 1025 N. Wilcox Avenue on a ±12,224 square foot parcel, Wilcox Homes boasts an outstanding WalkScore of 92 out of 100, and is proximate to an abundance of shopping, employment, restaurant, destination nightlife and entertainment options. Sunset Boulevard, Hollywood Boulevard and two Metro subway portals are a short walk from the Property. The Project design offers attractive ±1,500 square foot three-level townhome units each with a ±350 square foot attached garage. All units have spacious 2-bedroom-plus-den floorplans. Area shopping and entertainment attractions include Hollywood/Sunset, The Grove/3rd & Fairfax, Larchmont Village, Koreatown, and Melrose Avenue. Key area employers include Paramount Pictures, Children’s Hospital, Kaiser Permanente, and Sunset Bronson Studios. Hollywood’s outstanding, central location is minutes away from key employment centers including Downtown Los Angeles, West Hollywood, Wilshire Boulevard’s Miracle Mile, Beverly Hills, and Century City. 8 1025 North Wilcox Avenue | Hollywood, CA The Property is Located in a Designated Opportunity Zone Census Tract. The U.S. Investing in Opportunities Act, passed in 2017 as part of the new federal tax bill, created a number of potential federal capital gains tax incentives for long- term investment in Opportunity Zones. Opportunity Zones provide the following capital gains incentives: • No up-front tax bill on federal capital gains rolled into a Qualified Opportunity Fund • When investments are held for five years, 10% increase in rolled-over federal capital gains basis • When investments are held for seven years, 15% increase in rolled-over federal capital gains basis • Investors can defer their original tax bill until December 31, 2026 at the latest, or until they sell their Opportunity Fund investments, if earlier. • Opportunity fund investments held in the fund for at least 10 years are not taxed for federal capital gains. Click here for IRS Opportunity Zones Frequently Asked Questions Click here for Opportunity Zone Interactive Map 9 1025 North Wilcox Avenue | Hollywood, CA PARCEL MAP ADDRESS: 1025 N. Wilcox Los Angeles, CA 90038 SUBMARKET: Hollywood ASSESSOR PARCEL NUMBER: 5533-013-025 & 5533-013-026 PRICE REDUCTION: $4,950,000 $4,500,000 ESTIMATED LOT AREA: ±12,224 Square Feet WEBSITE: www.1025WilcoxLofts.com ZONING: R3-1 OWNERSHIP INTEREST Fee Simple CITY COUNCIL DISTRICT CD-13 10 OPPORTUNITY 1025 North Wilcox Avenue | Hollywood, CA HIGHLIGHTS • Desirable infill location in world-famous Hollywood DEMOGRAPHIC • Fully entitled development site & EMPLOYMENT • Nearly Ready to Issue for building permits HIGHLIGHTS • WalkScore of 92 out of 100 – a “Walker’s Paradise” • Located in a designated Opportunity Zone census $96,488 AVERAGE HOUSEHOLD INCOME tract: Potential for favorable capital gains tax WITHIN 3 MILES PROJECTED BY 2022 incentives. • Local restaurants include: Osteria Mozza, 52.7% OF THE POPULATION AGE 25 AND Lemonade, Sweet Fin Poke, Pressed Juicery, OVER IN THIS AREA HAVE EARNED A Salt & Straw, Rao’s Hollywood, Cafe Gratitude, BACHELOR’S, MASTER’S, PROFESSIONAL, OR Providence, Tender Greens, and Trois Mec DOCTORATE DEGREE • Local grocers and pharmacy include: Sprouts, THE POPULATION WITHIN 3 MILES IS Pavilions, Ralphs, Trader Joe’s, Smart & Final, PROJECTED TO GROW TO 459,780 FROM Walgreens, Target, Rite-Aid, and CVS 444,867 BY THE YEAR 2022 • Close to an abundance of destination hotels, clubs and nightlife including: W Hotel, Lowe’s Hollywood WITHIN 3 MILES OF THE PROPERTY THERE Hotel, The Hollywood Roosevelt, Good Times ARE 23,416 BUSINESSES WITH 230,291 at Davey Wayne’s, AVALON Hollywood, Sound EMPLOYEES Nightclub and Lucky Strike Live • Nearby world-class entertainment venues include: The Hollywood Bowl, The Pantages Theater, the Hollywood Palladium, El Capitan Theater, the Fonda Theater, Chinese Theater, and Grauman’s Egyptian Theater 11 1025 North Wilcox Avenue | Hollywood, CA • Nearby parks include Las Palmas Playground, OPPORTUNITY Yucca Park Whitley Heights Historic District, De Longpre Park, Runyon Canyon Park, Barnsdall HIGHLIGHTS (CONT.) Art Park and Griffith Park • Proximate to the 101 Freeway and linkage to the Greater Los Angeles freeway system • Easy access to prime Los Angeles shopping, dining, and entertainment venues including: Hollywood/ • Close to Los Angeles International Airport and Sunset, The Grove, Larchmont, Koreatown, Melrose Bob Hope Airport Avenue • Nearby high-identity streets include Santa Monica Boulevard, Highland Avenue, Vine Street, Sunset Boulevard • Proximate to two Metro Red Line subway portals at Hollywood/Vine and Hollywood/Highland • Weekly Hollywood Farmer’s Market – Sundays at Selma and Ivar • Convenient access to nearby top employers at Kaiser Permanente, Paramount Pictures, Children’s Hospital of Los Angeles, Universal Studios, and Sunset Gower Studios. Many other employers are located in Columbia Square, and along Sunset Boulevard • Convenient access to employment centers in West Hollywood, Beverly Hills, Downtown Los Angeles, Universal City, Burbank, Glendale and Pasadena 12 1025 North Wilcox Avenue | Hollywood, CA SUMMARY OF ENTITLEMENTS UNIT MIX SUMMARY REPRESENTATIVE UNIT FLOOR AREA Spacious Townhomes With Attached Garages AREA LEVEL UNIT UNIT SIZE FLOOR PLAN UNIT A1 Unit A1 1,491 SF 2-bedroom-plus-den 251 SF GROUND FLOOR Unit A1 - Garage 345 SF 620 SF SECOND FLOOR Unit A2 1,493 SF 2-bedroom-plus-den 620 SF THIRD FLOOR Unit A2 - Garage 347 SF Unit A3 1,493 SF 2-bedroom-plus-den TOTAL 1491 SF Unit A3 - Garage 347 SF UNIT A1 - GARAGE Unit A4 1,493 SF 2-bedroom-plus-den 345 SF GROUND FLOOR Unit A4 - Garage 347 SF TOTAL 345 SF Unit A5 1,493 SF 2-bedroom-plus-den Unit A5 - Garage 347 SF 1025 N. WILCOX WILCOX Unit A6 1,493 SF 2-bedroom-plus-den Provided Parking 24 Spaces 1025 N Wilcox Avenue Unit A6 - Garage 347 SF Los Angeles, CA 90038 PROJECT INFO: ADDRESS: 1025 N. WILCOX AVENUE, 90038 APN: 5533013026 Unit A7 1,493 SF 2-bedroom-plus-den ZONE: R3-1 NEIGHBORHOOD COUNCIL: CENTRAL HOLLYWOOD VHFHSZ: NO HILLSIDE GRADING: NO METHANE ZONE: YES TRACT: STRONG & DICKENSON'S SOUTH HOLLYWOOD NO. 1 PIN #: 144B185 855 Unit A7 - Garage 347 SF PARCEL AREA (CALC.): 6,128.9 (SQ. FT.) MAP SHEET: 144B185 COUNCIL DISTRICT: CD 13 - MITCH O'FARELL BASELINE HILLSIDE ORDINANCE: NO BASELINE MANSIONIZATION ORDINANCE: NO SPECIFIC PLAN AREA: NONE Unit A8 1,493 SF 2-bedroom-plus-den DESIGN REVIEW BOARD: NO OWNER: 1025 N. WILCOX, LP 8200 WILSHIRE BLVD., STE 400 BEVERLY HILLS, CA 90211 ARCHITECT: Unit A8 - Garage 347 SF JAY VANOS 1733 S. LA CIENEGA BLVD. LOS ANGELES, CA 90035 PHONE: 310.280.0193 EMAIL: [email protected] SURVEY: OFER SHAPIRA Unit B1 1,516 SF 2-bedroom-plus-den SURVEY & DRAFTING SERVICES, INC. 434 NORTH VISTA ST. LOS ANGELES, CA 90036 SOILS ENGINEER: JUAN CARLOS VIDAL A.G.I. GEOTECHNICAL, INC. 16555 SHERMAN WAY, SUITE A Unit B1 - Garage 347 SF VAN NUYS, CA 91406 PHONE: 818.785.5244 SUBDIVISION/TRACT MAP: DAVID SILVERMAN ADVANCED ENGINEERING & CONSULTING 9040 INDEPENDENCE AVE. CANOGA PARK, CA 91304 Unit B2 1,515 SF 2-bedroom-plus-den PHONE: 818.885.5000 Unit B2 - Garage 344 SF Unit C1 1,509 SF 2-bedroom-plus-den Unit C1 - Garage 355 SF Unit C2 1,509 SF 2-bedroom-plus-den No. Description Date Unit C2 - Garage 355 SF COVER Building plans and additional