8234-8236 blackburn avenue

8234-8236 Blackburn AvenueLos Angeles, California 90048

Development Opportunity in Prime Beverly Grove Location

$2,450,000

8234-8236 Blackburn Ave

Table of Contents

3 Investment Summary ▪ The Opportunity ▪ Property Location ▪ Aerial Photos

7 Market Overview ▪ Apartment Market Overview ▪ Major Employers ▪ Places of Interest ▪ Nearby Developments ▪ Demographics

12 Comparables ▪ Sales Comparables ▪ Sales Comparables Map ▪ Land Sales Comparables ▪ Land Sales Comparables Map ▪ Condo Sales Comparables ▪ Condo Sales Comparables Map ▪ Rent Comparables ▪ Rent Comparables Map

Copyright © 2021 Transwestern. California Brokerage License #01263636. The information in this offering memorandum was gathered by Transwestern from sources believed reliable. Transwestern has not verified the information and makes no guarantee, warranty or representation about it. It is the potential buyer’s responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. Potential buyers and their advisors should conduct a careful, independent investigation of the property to determine to their satisfaction the suitability of the property for their needs.

John SwartzManaging Director

[email protected]

CA Lic 01873487

Josh KaplanManaging Director

[email protected]

CA Lic 01934177

Transwestern Real Estate Services601 S. Figueroa St, Suite 3650

Los Angeles, CA 90017213.624.5700

transwestern.com

Troy LuceroSenior Associate

[email protected]

CA Lic 02015701

3

Transwestern as exclusive listing agent is pleased to present the opportunity to acquire a 6,250-square-foot development site located at 8234 Blackburn Avenue, Los Angeles, CA in the prime Beverly Grove neighborhood of Los Angeles. The site is zoned R3-1-O | TOC Tier 1 and would allow a developer to build seven units by-right and 12 units with the TOC density bonus1. Currently, there is a vacant 3,897-square-foot duplex on the site. The unit mix was comprised of two 3bed+1.75bath units. The units have been stripped down to the studs and are currently uninhabitable making it favorable for a new developer not to have to go through the Ellis process1. In addition, none of the units have been leased since July 2006.

Investment Summary

8234-8236 Blackburn Avenue Los Angeles, CA 90048

Offering Price: $2,450,000

Build 7 Units By Right | 12 Units with TOC Density Bonus

APN: 5511-035-023

Gross Land Size: 6,250 SF

Lot Frontage: +/- 50 Feet

Lot Depth: +/- 125 Feet

Zoning: R3-1-O

Transit Oriented Communities (TOC): Tier 1

Current Improvements: Vacant 3,897 SF two-story duplex

1 Source: zimas.lacity.org.


4

8234-8236 Blackburn Avenue is situated a block south of West 3rd Street just west of S LaJolla Avenue and east of S Sweetzer Avenue. The site is adjacent to Beverly Hills, West Hollywood and Mid-Wilshire/Miracle Mile. Boasting a Walk Score of 92 out of 100 (Walker’s Paradise), the site is surrounded by major employment centers, shopping districts, world-famous restaurants and cultural centers, most of which are within walking distance (less than a mile) from the site. A short drive to either the 10 or 110 Freeways provides access to all of the major employment centers including Downtown Los Angeles, West Los Angeles, The South Bay and the San Fernando Valley.

The immediate area (1-mile radius) demographics are second-to-none with an average household income of $137,538. In addition, over 68% of the adult population has a bachelor’s, graduate or professional degree.

Property Location

jGreystone Park

Wilshire Country Club

Hillcrest Country Club

Rancho Park Golf Course

Hollywood Forever Memorial Park

BEVERLY HILLS

WEST HOLLYWOOD

PARK LA BREA

HANCOCK PARK

CENTURY CITY

PICO

FAIRFAX

MCMANUS

MID CITY

LARCHMONT

OLYMPIC PARK

CHEVIOT HILLS

WINDSOR SQUARE

JEFFERSON PARK

HARVARD HEIGHTS

SOUTH ROBERTSON

CENTRAL HOLLYWOOD

ARLINGTON HEIGHTS

WILSHIRE CENTER-KOREATOWN

§̈¦10 §̈¦10

W Pico Blvd

Wilshire Blvd

W 3rd St

W Olympic Blvd

Melrose Ave

Beverly Blvd

W Adams Blvd

Venice Blvd

W Washington Blvd

Hau

ser

Blv

d

evA aer

B aL S

evA xafri aF

S

evA nret se

W S

Cren

shaw

Blv

d

lP notli

W N

S Ro

bert

son

Blv

d

Sunset Blvd

San Vicente Blvd

N Beverly Dr

Motor Ave

Vin

e St

lP notli

W S

dvlB agenei

C aL S

evA not gnilr

A

evA aer

B aL N

evA nret se

W N

Manning Ave

Burton Way

W Sunset Blvd

W 18th St

evA eidna

mroN

N

tS r endra

G N

rD yneho

D N

Overland Ave

dvlB agenei

C aL N

N Palm

Dr

rD ylreve

B S

Cadillac Ave

rD li

wreveB

rD yneho

D S

Cattaraugus Ave

Irol

o St

N W

hittier Dr

National Blvd

S Santa Monica Blvd

Cast

le H

eigh

ts A

ve

S H

igh

lan

d A

ve

evA ei dna

mroN

S

evA ero

mssoR

S

Avenue of the Stars

N H

igh

lan

d A

ve

evA xafri aF

N

Holloway Dr

W Beverly Blvd

tS re

woG

N

N San Vicente Blvd

Hillsboro A

ve

Westw

ood Blvd

dvlB nostrebo

R N

Monte Mar Dr

Santa Monica Blvd

S C

anfie

ld A

ve

Club Dr

tS rendra

G S

S B

ever

wil

Dr

Edgewood Pl

David Ave

N Canon Dr

tS rendra

G N

S Fa

irfa

x Av

e

UV2

UV2

£¤101

£¤101


Less than a mile from the property, CBS Television

city is anticipating $1.25 -billion-dollar overhaul

by real estate developer Hackman Capital, which

acquired the property in 2019. The plan is to add

1.13 million square feet of new space to address

the needs of modern studios. The renovation will

double the number of sound stages from 8 to 15, as

well as adding new production support facilities,

offices for rent, and garage structures for up to

5,300 vehicles. Once completed, the project will

generate and estimated $2.4 billion annually in

new economic output from approximately 19,000

direct and indirect jobs.

5

Century City

Beverly Hills

Aerial View Facing Westside


6

The Grove

Downtown LA

Park La Brea

Aerial View Facing Downtown LA


7

Los Angeles County Apartment Market OverviewCOVID-19 upended what is typically one of the country’s most stable apartment markets, but the L.A. apartment sector appears to be regaining its footing. Apartment demand is intensifying in 2021 as the public health situation improves, and average rents are growing for the first time since the outbreak.

The average vacancy rate in Los Angeles County stands at 6.1% in Q1 2021. While this is a decades-long high, Los Angeles remains one of the tightest rental markets in the nation with the nationwide vacancy rate being 6.5%.

Despite near-term issues related to the pandemic, the metro economy possesses many positive attributes. The metro is an attractive location for educated talent throughout the nation with growth forecasted in technology, design and entertainment industries. More people making six-figure paychecks continue to move to L.A. than are leaving.

Apartment Market Submarket DataThis submarket encompasses several of L.A.’s premier office nodes, some of the most desirable residential real estate in the nation, and world-famous retail and tourist attractions. Nearby is a concentration of talent agencies, media, finance, and law firms along with medical and health care practices. The presence of Cedars-Sinai Medical Center attracts a concentration of businesses that cater to a high-net-income population, and CBS’ Television City, which was one of the first and largest complexes built expressly for television production and broadcasting, is at the center of $1.3-billion-dollar investment in the area.

According to Yardi Matrix for A type buildings, the Beverly Grove apartment market reported an occupancy rate of 92.0% for the 1st Quarter of 2021. The average monthly rental rate for 1st Quarter 2021 was $4,338.

Condominium Submarket DataAccording to The Multiple Listing Service (MLS), the average sales price per square foot (PSF) for condominiums built between 2017 – 2021 between April 2020 – April 2021 was reported to be $1,523 PSF and the median sales price PSF reported was $1,134.

Market Overview


8

BEVERLY HILLS

PARK LA BREA

FAIRFAX

Wilshire Blvd

W 3rd St

Melrose Ave

W Olympic Blvd

Beverly Blvd

W Pico Blvd

S Fa

irfa

x Av

e

Burton Way

S La

Bre

a A

ve

San Vicente Blvd

tS rendra

G N

N Palm

Dr

rD ylreve

B S

evA xafri aF

N

evA aer

B aL N

S D

ohen

y D

rr

D ynehoD

N

dvlB nostrebo

R S Hau

ser

Blvd

S H

igh

lan

d A

ve

dvlB agenei

C aL N

N H

igh

lan

d A

ve

dvlB agenei

C aL S

W Beverly Blvd

N San Vicente Blvd

dvlB nostrebo

R N

S San Vicente Blvd

Beverw

il Dr

N Beverly Dr

tS rendra

G S

S B

ever

wil

Dr

Edgewood Pl

Beverly Blvd

N L

a C

ien

ega

Blv

d

San Vicente Blvd

rD yneho

D S

dvlB nostr ebo

R N

N D

ohen

y D

r

S San Vicente Blvd

UV2

W 6th St

W 8th St

Oakwood Ave

Whitworth Dr

W 3rd St

Clinton St

Waring Ave

W 1st St

Clifton Way

W 9th St

W 4th St

S D

etro

it S

t

Rosewood Ave

Alden Dr

tS atsi

V N

rD

mlE

S

W 2nd St

Charleville Blvd

W 5th St

evA ero

macyS

S

S O

ran

ge D

r

S C

lark

Dr

tS ti ort e

D N

Colgate Ave

rD

mlaP

N

rD ll a

wS

S

Gregory Way

rD aekli

K N

Park W

ay N F

ulle

r A

ve

Dayton Way

evA surti

C N

S Co

chra

n Av

e

Drexel Ave

evA letra

M N

Alcott St

rD yeltnu

H

evA leruaL

N

rD

mlaP

S

Elevado Ave

N H

arp

er A

ve

evA surti

C S

lP aitt esni o

P N

evA tlo

H S

rD ree

P aL S

Orange St

rD tsruhka

O N

N L

a Jo

lla A

ve

rD elpa

M S

N A

lta Dr

Maryland Dr

S R

odeo

Dr

evA aso

mroF N

Blackburn Ave

evA odnalr

O N

lP nedda

CcM

N

S W

eth

erly

Dr

S B

urns

ide

Ave

rD tno

mlA

S

rD tsruhka

O S

evA eesene

G N

N A

lta

Vist

a B

lvd

N M

aple Dr

Mas

selin

Ave

rD nona

C S

evA htro

wyaH

N

N Elm

Dr

evA nosru

C N

N A

rden Dr

Packard St

evA yel nat

S N

S Ri

dgel

ey D

r

S R

exfo

rd D

r

S Cu

rson

Ave

evA hgrubnid

E N

N Rexford Dr

tS drofde

B S

S La

Jolla

Ave

evA tf or

C N

lP nedda

CcM

S

S W

oost

er S

t

S C

resc

ent

Dr

Wes

tbou

rne

Dr

Alvi

ra S

t

N H

illcrest Rd

S Cl

over

dale

Ave

S D

unsm

uir

Ave

dR llihtooF

S M

ansfi

eld

Ave

evA gni dl uap

S N

S Sw

eetz

er A

ve

rD oni

maC l

E S

N Sierra D

r

Lindenhurst Ave

Warner Dr

rD sevee

R S

S G

enes

ee A

ve

rD tno

mlA

N

rD enruobreh

S S

evA atino

B arreiS

N

Ashcroft Avet

S haodnanehS

S

N Crescent Dr

rD egnar

O N

Stea

rns

Dr

dvlB st hgi e

H t necserC

N

S St

anle

y Av

e

Hi P

oint

St

S O

rlan

do A

ve

rD tnuo

mtseW

N Canon Dr

S Cr

esce

nt H

eigh

ts B

lvd

evA rezt ee

wS

N

rD llon

K tseW

N

evA dleifsna

M N

evA ero

macyS

N

S Tr

emai

ne A

ve

S Sp

auld

ing

Ave

S Po

int

View

St

S O

gden

Dr S Lo

ngw

ood

Ave

S H

ayw

orth

Ave

dR sgni

K N

rD nedg

O N

N Alpine Dr

S O

rang

e G

rove

Ave

S Re

dond

o Bl

vd

S C

rest

Dr ev

A ainoviL

evA ero

macyS

N

W 1st St

N M

ansfi

eld

Ave

evA tf or

C N

Waring Ave

S M

ansfi

eld

Ave

Clinton St

W 4th St

S Ci

trus

Ave

S La

Jolla

Ave

rD egnar

O N

Rosewood Ave

Rosewood Ave

S O

rang

e D

r

Gregory Way

rD tsruhka

O N

Foothill Rd


LFP Internet Group, LLC

SLS Hotel

CBS Television City

NBCUniversal

Nordstrom

Cedars-Sinai

S. Mark Taper FoundationDecurion

Four Seasons Hotel

Academy of Motion Picture Arts and Sciences

Major Employers

▪ CBS Television City

▪ Cedars-Sinai Medical Center

▪ LFP Internet Group LLC

▪ Nordstrom

▪ S. Mark Taper Foundation

▪ SLS Hotel, A Luxury Collection Hotel

▪ Four Seasons Hotel

▪ Academy of Motion Pictures Arts and Sciences

▪ NBCUniversal

▪ Decurion

9

jGreystone Park




Hollywood Forever Memorial Park

BEVERLY HILLS

WEST HOLLYWOOD

PARK LA BREA

CRESCENT

HANCOCK PARK

CENTURY CITY

PICO

FAIRFAX

MCMANUS

MID CITY

LARCHMONT

OLYMPIC PARK

CHEVIOT HILLS

WINDSOR SQUARE

JEFFERSON PARK

HARVARD HEIGHTS

SOUTH ROBERTSON

CENTRAL HOLLYWOOD

ARLINGTON HEIGHTS

WILSHIRE CENTER-KOREATOWN

§̈¦10 §̈¦10

W Pico Blvd

Wilshire Blvd

W 3rd St

W Olympic Blvd

Melrose Ave

Beverly Blvd

W Adams Blvd

Venice Blvd

W Washington Blvd

Hau

ser

Blv

d

evA aer

B aL S

evA xafri aF

S

evA nret se

W S

Cren

shaw

Blv

d

lP notli

W N

S Ro

bert

son

Blv

d

Sunset Blvd

San Vicente Blvd

N Beverly Dr

Motor Ave

Vin

e St

lP notli

W S

dvlB agenei

C aL S

evA not gnilr

A

evA aer

B aL N

evA nret se

W N

Manning Ave

Burton Way

W Sunset Blvd

W 18th St

evA eidna

mroN

N

tS r endra

G N

rD yneho

D N

Overland Ave

dvlB agenei

C aL N

N Palm

Dr

rD ylreve

B S

Cadillac Ave

rD li

wreveB

rD yneho

D S

Cattaraugus AveIr

olo

St

N W

hittier Dr

National Blvd

S Santa Monica Blvd

Cast

le H

eigh

ts A

ve

S H

igh

lan

d A

ve

evA ei dna

mroN

S

evA ero

mssoR

S

Avenue of the Stars

N H

igh

lan

d A

ve

evA xafri aF

N

Holloway Dr

W Beverly Blvd

tS re

woG

N

N San Vicente Blvd

Hillsboro A

ve

Westw

ood Blvd

dvlB nostrebo

R N

Monte Mar Dr

Santa Monica Blvd

S C

anfie

ld A

ve

Club Dr

tS rendra

G S

S B

ever

wil

Dr

Edgewood Pl

David Ave

N Canon Dr

tS rendra

G N

S Fa

irfa

x Av

eUV2

UV2

£¤101

£¤101

Los Angeles County Museum of Art

La Brea Tar Pits

Larchmont Village

Beverly Hills Golden Triangle

Peterson Automotive Museum

Melrose Ave Shopping District

Places of Interest

j

j

FAIRFAX

W 3rd St

Beverly Blvd

Wilshire Blvd

Melrose Ave

evA xafriaF

S

Burton Way

tS rendra

G N

evA xafri aF

N

dvlB agenei

C aL N

S San Vicente Blvd

W Beverly Blvd

N San Vicente Blvd

N R

ober

tson

Blv

d

tS rendra

G Sdvl

B ageneiC aL

S

dvlB nostr ebo

R S

N L

a C

ien

ega

Blv

d

dvlB nostrebo

R N

N San Vicente Blvd

N San Vicente B

lvd

dvlB nostrebo

R S

W 6th St

Oakwood Ave

W 4th St

W 5th St

W 1st St

Colgate Ave

Drexel Ave

W 3rd St

tS atsi

V N

Orange St

Rosewood Ave

Maryland Dr

Blackburn Ave

Clifton Way

N F

ulle

r A

ve

Clinton St

rD aekli

K N

evA all oJ aL

S

evA tf or

C N

evA letra

M N

evA leruaL

N

S Sw

eetz

er A

ve

N H

arp

er A

ve

Lindenhurst Ave

Huntley D

r

N L

a Jo

lla A

ve

N O

rlan

do

Ave

tS derfl

A N

evA eesene

G N

evA htro

wyaH

N

Charleville Blvd

tS serolF

N

Alden Dr

evA hgrubnid

E N

dR sgni

K N

S O

rlan

do A

ve

rD kral

C N

evA nosru

C N

N S

wal

l Dr

evA yel nat

S N

S C

resc

ent

Hei

ghts

Blv

dW

estbourne Dr

N S

pau

ldin

g A

ve

rD evor

G ehT

N L

a Pe

er D

r

Ashcroft Ave

N S

wee

tzer

Ave

S C

lark

Dr

S Sw

all D

r

S Vi

sta

St

dvlB st hgi e

H t necserC

N

dvlB r esua

H

evA atino

B arreiS

N

N O

gden

Dr

evA r ell uF

S

N S

tan

ley

Dr

N H

amilt

on D

r

N Le D

oux R

d

evA hgrubnid

E S

Rangely Ave

evA letra

M S

N C

arso

n R

d

S La

Pee

r D

r

rD zanr

A

Dorrington Ave

rD na

malliW

S

Norw

ich Dr

S H

amel

Dr

N H

amel

Dr

N A

rnaz

Dr

evA tl o

H S

N G

ale

Dr

S La

pee

r D

r

N W

illam

an D

r

S O

gden

Dr

dR l e

maH

S

S C

arso

n R

d

Bonner Dr

N O

ran

ge G

rove

Ave

S Curson Ave

Westm

ount Dr

Beverly Pl

rD yel nat

S S

N Sherbourne D

r

evA l eruaL

S

rD aekli

K S

S Le

Dou

x R

d

S Sh

erb

ourn

e D

r

S Burnside Ave

Gilm

ore

Ln

N L

apee

r D

r

rD llon

K tseW

N

rD zanr

A S

evA htro

wyaH

S

W 2nd St

rD el a

G S

evA nil essa

MS H

amilt

on D

r

rD yel egdi

R S

Alandele Ave

S Le

Dou

x R

d

rD kral

C N

S Sw

all D

r

S Fuller A

ve

rD enruobreh

S S

Rosewood Ave

Colgate Ave

Colgate Ave

Colgate Ave

rD lla

wS

N

Hauser Blvd

S W

illam

an D

r

Rosewood Ave

rD kral

C S

rD nedg

O S

Lindenhurst Ave

Clinton St tS serol F

N

dR sgni

K N

evA r ezt ee

wS

N

W 1st St

Rangely Ave

Rosewood Ave

Clinton St

N L

a Pe

er D

r

Cedars-SinaiMedical Center

Taboo Salon

DrybarFacehaus Toast Bakery Cafe

SweetfinBelcampo Meat Co.

Verve Coffee Roasters

Manpuku

Toca Madera

The Izaka-ya

Cod Seafood HouseSon Of A Gun

Joan’s On Third

The Orlando

SLS Hotel

Sofitel

Magnolia Bakery


▪ West Third Street

▪ The Grove

▪ LA Farmers Market

▪ Beverly Center

▪ Beverly Connection

▪ Beverly Hills Triangle

▪ Larchmont Village

▪ Melrose Avenue Shopping District

▪ Petersen Automotive Museum

▪ Craft Contemporary Museum

▪ The La Brea Tar Pits and Museum

▪ Los Angeles County Museum of Art

▪ Pavilion for Japanese Art

▪ Urban Lights

▪ Levitated Mass

Things to Do on West Third


10

BEVERLY HILLS

WEST HOLLYWOOD

PARK LA BREA

CRESCENT

FAIRFAX

Wilshire Blvd

W 3rd St

Melrose Ave

W Olympic Blvd

Beverly Blvd

Burton Way

tS rendra

G N

evA xafri aF

S

N L

a B

rea

Ave

rD yneho

D N

S La

Bre

a A

ve

N Palm

Dr

Sunset Blvd

dvlB agenei

C aL N

San Vicente Blvd

N Beverly Dr

rD ylreve

B S

rD yneho

D S

W Sunset Blvd

evA xafri aF

N

Holloway Dr

W Beverly Blvd

dvlB nostrebo

R S

N San Vicente Blvd

dvlB nostrebo

R N

S San Vicente Blvd

Hau

ser

Blvd

dvlB agenei

C aL S

S Santa Monica Blvd

tS rendra

G S

rD li

wreveB

S

Beverly Blvd

rD yneho

D S

San Vicente Blvd

N D

ohen

y D

r

dvlB agenei

C aL N

dvlB nostr ebo

R N

S San Vicente Blvd

W 6th St

W 3rd St

Oakwood Ave

W 8th St

Willoughby Ave

Park Way

tS atsi

V N

Clifton Way

Charleville Blvd

Gregory Way

Foothill Rd

W 4th St

Elevado Ave

tS tiorte

D S

N Rexford Dr

Alden Dr

Waring Ave

Romaine St evA letra

M N

Clinton St

N Elm

Dr

evA leruaL

N

W 5th St

W 1st St

N H

arp

er A

ve

Carmelita

Ave

Dayton Way

lP aittesni o

P N

tS ti ort e

D N

N Canon Dr Colgate Ave

rD

mlaP

N

N L

a Jo

lla A

ve

N Crescent Drr

D aekliK

N evA aso

mroF N

N F

ulle

r A

ve

evA odnalr

O N

rD

mlE

S

Drexel Ave

N A

lta Dr

evA eesene

G N

N C

urs

on A

ve

N Alpine D

r

evA yel nat

S N

Rosewood Ave

evA htro

wyaH

N

rD yeltnu

H

S Sy

cam

ore

Ave

evA hgrubnid

E N

N M

aple Dr

rD kce

P S

W 9th St

rD

mlaP

S

N H

illcrest Rd

S C

lark

Drr

D ll aw

S S

Orange St

rD tsruhka

O N

N S

pau

ldin

g A

ve

Maryland Dr

Blackburn Ave

N A

rden Dr

Rodeo Dr

rD elpa

M S

N Sierra D

r

rD oedo

R S

N A

lta

Vist

a B

lvd

rD t no

mlA

S

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Lindenhurst Ave

rD oni

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Warner Dr

rD sevee

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Ave

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W 1st St

Rosewood Ave

Gregory Way

Rosewood Ave

W 4th St

dR llihtooF

S La

Jolla

Ave

Romaine St

Waring Ave

Clinton St

725 N Croft Ave

411-439 S Hamel Rd

316-320 N La Cienega Blvd

333 S San Vicente Blvd

Wilshire & San Vicente

6401 Wilshire Blvd


6401 Wilshire BoulevardUnder construction 16-story 112-unit multifamily development over 6,000 square feet of street-fronting commercial space by WS Communities.

Wilshire & San VicenteProposed 12-story building would feature approximately 145,000 square feet of office space above 5,000 square feet of ground-floor retail and parking development by Stockdale Capital Partners.

411-439 S Hamel RoadUnder construction four-story building 37-unit condominium complex being developed by ETCO Homes.

725 N Croft AvenueUnder construction four-story 31-unit multifamily townhome-style units designed by Kevin Tsai Architecture is being developed by Etco Homes.

316-320 N La Cienega BoulevardProposed six-story building would feature 66 apartments above 4,100 square feet of ground floor retail. NMDA is designing along with Togawa Smith Martin the 320 La Cienega development.

333 S San Vicente BoulevardProposed 19-story 153-unit multifamily development designed by Nadel Architects. Construction is scheduled to begin 2021 and will take approximately 3 years to complete.

Nearby Developments

1 MILE 3 MILE 5 MILEPOPULATION # % CHANGE # % CHANGE # % CHANGE

2010 Census 38,662 308,781 906,685

2020 Estimate 40,931 0.56% 323,140 0.44% 945,456 0.41%

2025 Projection 41,852 0.45% 333,320 0.62% 974,106 0.60%

HOUSEHOLD # % CHANGE # % CHANGE # % CHANGE

2010 Census 20,483 147,244 386,192

2020 Estimate 21,384 0.42% 153,226 0.39% 400,782 0.36%

2025 Projection 21,725 0.32% 157,136 0.51% 411,885 0.55%

ETHNICITY/RACE # % # % # %

White 30,371 74.2% 203,901 63.1% 460,437 48.7%

Black 1,474 3.6% 30,698 9.5% 100,218 10.6%

Asian 3,520 8.6% 73,676 22.8% 319,564 33.8%

Hispanic Origin (Any Race) 6,140 15.0% 35,869 11.1% 169,237 17.9%

Other 29 7.2% 523 16.2% 2,156 22.8%

EDUCATION # % # % # %

Less Than 9th Grade 393 1.2% 11,431 4.6% 55,985 8.2%

Some High School 426 1.3% 8,449 3.4% 39,599 5.8%

High School Graduate 2,718 8.3% 27,335 11.0% 98,997 14.5%

GED/Alternative Credential 295 0.9% 2,485 1.0% 7,510 1.1%

Some College, No Degree 4,421 13.5% 39,760 16.0% 108,556 15.9%

Associate Degree 1,899 5.8% 14,661 5.9% 38,233 5.6%

Bachelor's Degree 13,754 42.0% 90,951 36.6% 210,967 30.9%

Graduate/Professional Degree 8,809 26.9% 53,676 21.6% 122,893 18.0%

WORKPLACE & INCOME # % # % # %

Median Household Income $97,421 $79,886 $61,868

Average Household Income $137,538 $123,584 $103,349

All Employees 22,866 168,186 462,045

White Collar 20,145 88.1% 133,540 79.4% 321,583 69.6%

Blue Collar 755 3.3% 12,614 7.5% 55,445 12.0%

Services 1,966 8.6% 22,032 13.1% 85,016 18.4%

Daytime Population 71,910 423,538 1,091,123

2020 POPULATION

40,931 (+0.56% since 2010)

2025 POPULATION

41,852 (+0.45% est. over 2020)

MEDIAN AGE

39.7 years old

EDUCATION

68.9% have bachelor’s or higher

AVERAGE INCOME

$137,538

Demographics

12

PROPERTY ADDRESS SALE DATESALE PRICE $ PSF LAND SF

LAND ACRES ZONING COMMENTS

8447 Romaine St Los Angeles, CA 90019

Nov-2020 $2,700,000 $416 6,495 0.15 [Q] R4-1 TOC Tier 3

8457 Blackburn Ave Los Angeles, CA 90048

Dec-2019 $6,550,000 $469 13,962 0.32 R3-1-O TOC Tier 3

745 N Croft Ave Los Angeles, CA 90069

Sep-2019 $3,200,000 $492 6,499 0.15 R3-1 TOC Tier 2

8377-8387 Blackburn Ave Los Angeles, CA 90048

Aug-2019 $10,760,000 $508 21,192 0.49 R3-1-O TOC Tier 3

TOTAL / AVERAGE $23,210,000 $482 48,148

8234-8236 Blackburn Ave $2,450,000 $392 6,250 SF R3-1-O TOC Tier 1

Land Sales Comparables

13

j

j

j

j

The Grove

Greystone Park

Franklin Canyon Park




The Los Angeles Country Club

BEVERLY HILLS

WEST HOLLYWOOD

HOLLYWOOD

PARK LA BREA

WESTWOOD VILLAGE

WEST LOS ANGELES

BEL AIR

HANCOCK PARK

CENTURY CITY

PICO

FAIRFAX

MID CITY

LARCHMONT

OLYMPIC PARK

WINDSOR SQUARE

HOLLYWOOD HILLS

SOUTH ROBERTSON

CENTRAL HOLLYWOOD

ARLINGTON HEIGHTS

HOLLYWOOD STUDIO DISTRICT

§̈¦405

Wilshire Blvd

W Pico Blvd

W Olympic Blvd

W 3rd St

Melrose Ave

W Sunset Blvd

Beverly Blvd

Vin

e S

t

Hollywood Blvd

Venice BlvdevA xafri aF S

evA aer B aL S

N H

ighl

and

Ave

Sunset Blvd

San Vicente Blvd

W Washington Blvd

N Beverly Dr

Hau

ser B

lvd

evA aer B aL N

S Beverly Glen Blvd

lP notliW S

Cre

nsha

w B

lvd

dvlB nostreboR S

Franklin Ave

Burton Way

Hilgard Ave

Westwood Blvd

W 18th St

dvlB ageneiC aL S

t S r endr aG

N

Manning Ave

rD yneho

D N

dvlB ageneiC aL

N

Motor Ave

tS rewo

G N

Arli

ngto

n A

ve

N P

alm D

r

rD ylreveB S

rD li

wr eveB

rD yneho

D S

N W

hittier Dr

S Santa Monica Blvd

evA xafri aF N

S H

ighl

and

Ave evA ero

mssoR S

Avenue of the Stars

Overland Ave

Holloway Dr

W Beverly Blvd

N San Vicente Blvd

Cadillac Ave

Hillsboro A

ve

S Sepulveda Blvd

Monte Mar Dr

S C

anfie

ld A

ve

Castle H

eights Ave

Laurel Canyon B

lvd

tS rendraG S

S B

ever

wil

Dr

Edgewood Pl

N Canon Dr

tS rendr aG

N

Manning Ave

UV2

UV2

£¤101£¤101

745 N Croft Ave

8447 Romaine St

8457 Blackburn Ave8377-8387 Blackburn Ave


Land Sales Comparables

14

PROPERTY ADDRESS YR BUILT UNIT# SALE DATESALE PRICE $ PSF UNIT SF UNIT TYPE

1253 N Sweetzer Ave West Hollywood, CA 90069

2020

8 Sep-2020 $1,150,000 $1,264 910 1B/1BA

5 Jul-2020 $1,185,000 $1,213 977 1B/1BA

509 N Orlando Ave West Hollywood, CA 90069

2020

104 Mar-2020 $1,320,000 $1,091 1,210 2B/2BA

301 Mar-2020 $1,800,000 $1,230 1,464 2B/2BA

124 N Flores St Los Angeles, CA 90048

1939 Sep-2019 $1,416,480 $1,086 1,304 2B/2BA

118 N Flores St Los Angeles, CA 90048

1939 Sep-2019 $1,349,920 $1,042 1,296 2B/2BA

1030 N Kings Rd West Hollywood, CA 90069

2018

402 Jul-2019 $1,450,000 $1,259 1,152 2B/2BA

307 Jul-2019 $1,332,500 $1,181 1,128 2B/2BA

132 N Swall Dr Los Angeles, CA 90048

2018

101 Mar-2019 $1,475,000 $1,126 1,310 2B/2BA

203 Feb-2019 $1,975,000 $1,103 1,790 3B/4BA

TOTAL / AVERAGE $14,453,900 $1,153 12,541

Condo Sales Comparables

j

j

j

j

The Grove

Greystone Park






BEVERLY HILLS

WEST HOLLYWOOD

HOLLYWOOD

PARK LA BREA

WESTWOOD VILLAGE

WEST LOS ANGELES

BEL AIR

HANCOCK PARK

CENTURY CITY

PICO

FAIRFAX

MID CITY

LARCHMONT

OLYMPIC PARK

WINDSOR SQUARE

HOLLYWOOD HILLS

SOUTH ROBERTSON

CENTRAL HOLLYWOOD

ARLINGTON HEIGHTS


§̈¦405

Wilshire Blvd

W Pico Blvd

W Olympic Blvd

W 3rd St

Melrose Ave

W Sunset Blvd

Beverly Blvd

Vin

e S

t

Hollywood Blvd

Venice Blvd

evA xafri aF S

evA aer B aL S

N H

ighl

and

Ave

Sunset Blvd

San Vicente Blvd

W Washington Blvd

N Beverly Dr

Hau

ser B

lvd

evA aer B aL N

S Beverly Glen Blvd

lP notliW S

Cre

nsha

w B

lvd

dvlB nostreboR S

Franklin Ave

Burton Way

Hilgard Ave

Westwood Blvd

W 18th St

dvlB ageneiC aL S

t S r endr aG

N

Manning Ave

rD yneho

D N

dvlB ageneiC aL

N

Motor Ave

tS rewo

G N

Arli

ngto

n A

ve

N P

alm D

r

rD ylreveB S

rD li

wr eveB

rD yneho

D S

N W

hittier Dr

S Santa Monica Blvd

evA xafri aF N

S H

ighl

and

Ave evA ero

mssoR S

Avenue of the Stars

Overland Ave

Holloway Dr

W Beverly Blvd

N San Vicente Blvd

Cadillac Ave

Hillsboro A

ve

S Sepulveda Blvd

Monte Mar Dr

S C

anfie

ld A

ve

Castle H

eights Ave

Laurel Canyon B

lvd

tS rendraG S

S B

ever

wil

Dr

Edgewood Pl

N Canon Dr

tS rendr aG

N

Manning Ave

UV2

UV2

£¤101£¤101

1030 N Kings Rd

1253 N Sweetzer Ave

132 N Swall Dr

118 N Flores St

124 N Flores St

509 N Orlando Ave


Condo Sales Comparables

16

PROPERTY ADDRESS UNIT TYPE UNIT SFMONTHLY

RENTRENT PSF COMMENTS

935 N San Vicente Bl

2bed+2bath 1,324 $7,000 $5.29

Built in 2017 | 7-Unit Building

2bed+2bath 1,372 $7,600 $5.54

717 N Orlando Ave 2bed+2bath 1,250 $6,500 $5.20 Built in 1986 | 8-Unit Building

105 S Doheny Dr 1bed+2bath 925 $5,075 $5.49 Built in 2020 | 35-Unit Building

725 N Alfred St 2bed+2bath 1,000 $5,245 $5.25 Built in 1990 | Renovated 2010 | 18-Unit Building

9035 Dicks St 1bed+1bath 724 $3,750 $5.18 Built in 1924 | Fully Renovated | 3-Unit Building

1030 N Kings Rd 2bed+2bath 1,083 $5,900 $5.45 Built in 2018 | 25-Unit Building

Rent Comparables

17

PROPERTY ADDRESS UNIT TYPE UNIT SFMONTHLY

RENTRENT PSF COMMENTS

375 N La Cienega Blvd

Studio 404 $2,327 $5.76

Built in 2015 | 125-Unit Building

1bed+1bath 763 $5,111 $6.70

909 S Le Doux Rd 1bed+1bath 750 $3,995 $5.33 Built in 2019 | 21-Unit Building

8229 W 4th St 1bed+1bath 758 $4,500 $5.94 Built in 1930 | 2-Unit Building

TOTALS/ AVERAGES UNIT TYPE UNIT SF

MONTHLY RENT RENT PSF

Studio 404 2,327 $5.76

1bed+1bath 749 4,339 $5.79

1bed+2bath 925 5,075 $5.49

2bed+2bath 1,111 5,882 $5.29

Rent Comparables

j

j

j

j

The Grove

Greystone Park






BEVERLY HILLS

WEST HOLLYWOOD

HOLLYWOOD

PARK LA BREA

WESTWOOD VILLAGE

WEST LOS ANGELES

BEL AIR

HANCOCK PARK

CENTURY CITY

PICO

FAIRFAX

MID CITY

LARCHMONT

OLYMPIC PARK

WINDSOR SQUARE

HOLLYWOOD HILLS

SOUTH ROBERTSON

CENTRAL HOLLYWOOD

ARLINGTON HEIGHTS


§̈¦405

Wilshire Blvd

W Pico Blvd

W Olympic Blvd

W 3rd St

Melrose Ave

W Sunset Blvd

Beverly Blvd

Vin

e S

t

Hollywood Blvd

Venice Blvd

evA xafri aF S

evA aer B aL S

N H

ighl

and

Ave

Sunset Blvd

San Vicente Blvd

W Washington Blvd

N Beverly Dr

Hau

ser B

lvd

evA aer B aL N

S Beverly Glen Blvd

lP notliW S

Cre

nsha

w B

lvd

dvlB nostreboR S

Franklin Ave

Burton Way

Hilgard Ave

Westwood Blvd

W 18th St

dvlB ageneiC aL S

t S r endr aG

N

Manning Ave

rD yneho

D N

dvlB ageneiC aL

N

Motor Ave

tS rewo

G N

Arli

ngto

n A

ve

N P

alm D

r

rD ylreveB S

rD li

wr eveB

rD yneho

D S

N W

hittier Dr

S Santa Monica Blvd

evA xafri aF N

S H

ighl

and

Ave evA ero

mssoR S

Avenue of the Stars

Overland Ave

Holloway Dr

W Beverly Blvd

N San Vicente Blvd

Cadillac Ave

Hillsboro A

ve

S Sepulveda Blvd

Monte Mar Dr

S C

anfie

ld A

ve

Castle H

eights Ave

Laurel Canyon B

lvd

tS rendraG S

S B

ever

wil

Dr

Edgewood Pl

N Canon Dr

tS rendr aG

N

Manning Ave

UV2

UV2

£¤101£¤101

909 S Le Doux Rd

8229 W 4th St

1030 N Kings Rd

105 S Doheny Dr

935 N San Vicente Blvd

375 N La Cienega Blvd

717 N Orlando Ave725 N Alfred St9035 Dicks St


RentComparables

John SwartzManaging Director

[email protected]

CA Lic 01873487

Josh KaplanManaging Director

[email protected]

CA Lic 01934177

Transwestern601 S. Figueroa St, Suite 3650

Los Angeles, CA 90017213.624.5700

transwestern.com

The information provided herein was obtained from sources believed reliable; however, Transwestern makes no guarantees, warranties or representations as to the completeness of accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior to sale or lease, or withdrawl without notice. Copyright © 2021 Transwestern. CA Lic 01263636.

Troy LuceroSenior Associate

[email protected]

CA Lic 02015701

Los Angeles Multifamily Investment Services Group

8234-8236 blackburn avenue

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