CRENSHAW METRO DEVELOPMENT 5879 Crenshaw Blvd - Los Angeles 90043 Proposed: 32-Units / 500 SF Ground Flr Retail presented by: Julian B. Curry BRE# 01925848 323.813.1585 The information provided herein is from sources we be- A Charge Properties Inc. Exclusive Investment Offering lieve are reliable. While we do not doubt its accuracy, we 325 N Larchmont Blvd #332 I Los Angeles CA 90004 have not verified it and make no representations, guaran- [email protected] tees or warranties about it. CRENSHAW METRO DEVELOPMENT 5879 Crenshaw Blvd - Los Angeles 90043 ASKING PRICE $1,849,000 PROPERTY USE CHURCH & DUPLEX YEAR BUILT 1944 & 1946 BUILDING SIZE 3,096 SF APPROX. LAND SIZE 8,418 SF APPROX. APN 4005-003-012 ZONING LAC2 TOC TIER 4 HIGHLIGHTS Plans Submitted for Walk Score = 81 Rapidly Changing Adjacent to On-Grade 32-Units / 500 SF Retail Mixed-Use “Very Walkable” Dense Urban Infill Crenshaw/LAX Metro with No Required Bike Score = 52 Rental Pocket Lightrail Stop Auto Parking - TOC Tier 4* “Bikeable” Charge Properties Inc. EXECUTIVE SUMMARY The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it. Crenshaw Metro Development Nestled in the heart of the Crenshaw District, Crenshaw Metro Development is a mixed-use redevelopment investment opportunity. Located at 5879 Crenshaw Blvd, Los Angeles 90043, the improved site sits on an approx. 8,418 SF lot zoned LAC2-2D-SP. The property is conveniently situated on the heavily trafficked, major North-South artery of Crenshaw Blvd, surrounded by neighboring essential retail and directly adjacent to the upcoming Metro Line - Hyde Park Station. Due to its proximity to major bus and rail transit stops, the site qualifies for an 80% density bonus increase in the amount of allowable units and no required residential parking for Eligible Housing Developments under the Transit Oriented Communities Affordable Housing Program Tier 4 Guidelines. Plans for the site have been submitted to the Subject Property City of Los Angeles for a mixed-use development with 32-unit apartments (1s & 2s) and 500 SF of ground floor retail, taking advantage of both the density and parking incentives. Currently, the site is improved with a small church and duplex (2+1s), respectively built in 1946 & 1944, both to be delivered vacant at the close of escrow. This offering presents a unique redevelopment opportunity for investors seeking a feasible project in one of South L.A.’s strongest rental pocket. CONFIDENTIALITY AGREEMENT InvestmentCharge RealProperties Estate Associates Inc. PROPERTY INFORMATION TheThe information information provided provided herein herein is from is from sources sources we we believe believe are are reliable. reliable. While While we we do do not not doubt doubt its itsaccuracy, accuracy, we we have have not not verified verified it andit and make make no representations,no representations, guarantees guarantees or orwarranties warranties about about it. it. 5879 Crenshaw Blvd 90043 3521 East 4th Street ChargeInvestment Properties Real Estate Associates Inc. AERIAL MAP The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it. Downtown L.A. Leimert Park Village View Park Prep Academy Slauson Ave Crenshaw Blvd Subject Property ChargeInvestment Properties Real Estate Associates Inc. RETAIL MAP The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it. CRENSHAW METRO DEVELOPMENT 5879 Crenshaw Blvd - Los Angeles 90043 Subject Property Charge Properties Inc. PARCEL MAP The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it. Hyde Park Station CONFIDENTIALITY AGREEMENT ChargeInvestment Properties Real Estate Associates Inc. CRENSHAW/LAX TRANSIT CORRIDOR TheThe information information provided provided herein herein is is from from sources sources we we believe believe are are reliable. reliable. While While we we do do not not doubt doubt its its accuracy, accuracy, we we have have not not verified verified it it andand makemake nono representations, representations, guaranteesguarantees oror warrantieswarranties aboutabout it. it. Incentives Overview Tier 4 Overlay *On-Site Restricted Affordable Units. In each Tier, a Housing Development shall provide On-Site Restricted Affordable Units at a rate of at least the minimum percentages described below. The minimum number of On-Site Restricted Affordable Units shall be calculated based upon the total number of units in the final project. Tier 4 - 11% ELI, or 15% VL or 25% Lower *Increase in Number of Dwelling Units. In each Tier, the maximum increase in the otherwise maximum allowable number of dwelling units permitted under the applicable zoning ordinance shall be as follows: Tier 4 - 11% ELI, or 15% VL or 25% Lower *Floor Area Ratio (FAR). In each Tier, the maximum increase in the allowable FAR permitted shall be equal to the following, provided that any additional floor area provided through this section is utilized only by residential uses: Tier 4 – Percentage increase of up to 55%, or an FAR increase resulting in at least a 4.25:1 FAR in commercial zones, whichever is greater. *Residential Minimum Parking Requirements. The Transit Oriented Communities Affordable Housing Tier 4 – No required parking for residential Incentive Guidelines (TOC Guidelines) developed pursuant units in an Eligible Housing Development. to Measure JJJ was released on September 22, 2017. https://planning.lacity.org/odocument/39fae0ef-f41d-49cc-9bd2-4e7a2eb528dd/ TOCGuidelines.pdf Charge Properties Inc. TOC AFFORDABLE HOUSING INCENTIVE GUIDELINES The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it. Destination Crenshaw los angeles, ca estination Crenshaw is an under- construction 1.3-mile-long open-air Rendering of Upper Level Viewing Deck museum along Crenshaw Boulevard D in Los Angeles, California, dedicated to preserving the history and culture of African Americans. The project includes new pocket parks, outdoor sculptures, murals, street furniture, and landscaping. The design of the park features four nodes along its length, each featuring a theme celebrating the heritage of the area’s African American art. The southernmost end of the project, called Welcome Park and themed “Improvisation”, starts near Slauson Avenue. It features the Crenshaw Monument, a 120-foot- tall (6.1 m) totem that spells out Crenshaw in giant letters. The major commercial corridor for the Hyde Park, Leimert Park and Baldwin Hills/ Crenshaw neighborhoods is known as “the heart of African American commerce in Los Angeles”. The project was conceived to celebrate the Crenshaw business district as a black community amid fears of gentrification with the arrival of the Crenshaw/ LAX light rail line and the NFL Stadium in Inglewood. Charge Properties Inc. DESTINATION CRENSHAW INFORMATION The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it. Julian B. Curry [email protected] BRE# 01925848 323.813.1585 325 N Larchmont Blvd #332, Los Angeles, CA 90004 Charge Properties Inc. CONTACT INFORMATION The information provided herein is from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and make no representations, guarantees or warranties about it..