8886 s. vermont avenue los angeles, ca 90044 22-unit ...€¦ · offering memorandum - $1,130,000...

OFFERING MEMORANDUM - $1,130,000LOS ANGELES, CA 90044

8886 S. VERMONT AVENUE22-UNIT APARTMENT DEVELOPMENT SITE

This Memorandum (“Offering Memorandum”) has been prepared

by Pacific Union based on information that was furnished to us by

sources we deem to be reliable. No warranty or representation is

made to the accuracy thereof; subject to correction of errors,

omissions, change of price, prior sale, or withdrawal from market

without notice.

This Memorandum is being delivered to a limited number of

parties who may be interested in and capable of purchasing the

Property. By its acceptance hereof, each recipient agrees that it

will not copy, reproduce or distribute to others this Memorandum

in whole or in part, at any time, without the prior written consent

of Pacific Union, Inc., and it will keep permanently confidential all

information contained herein not already public and will use this

Confidential Memorandum only for the purpose of evaluating the

possible acquisition of the Property.

This Memorandum does not purport to provide a complete or fully

accurate summary of the Property or any of the documents related

thereto, nor does it purport to be all-inclusive or to contain all of

the information, which prospective buyers may need, or desire. All

financial projections are based on assumptions relating to the

general economy, competition and other factors beyond the

control of the Owner and, therefore, are subject to material

variation. This Memorandum does not constitute an indication

that there has been no change in the business or affairs of the

Property or the Owner since the date of preparation of this Memo-

randum.

Pacific Union., reserves the right to request the return of any or all

of the information enclosed.

OFFERING SUMMARY

SPECIF ICATION

PRICE:

PRICE/SF ON LAND:

LOT SIZE:

PRICE PER POTENTIAL UNIT:

NUMBER OF POTENTIAL UNIT:

BUILDABLE SF:

PRICE/BUILDABLE SF:

PROPOSED UNIT MIX:

NUMBER OF STORIES

APPROXIMATE GROSS AREA:

OPEN SPACE AREA:

MAJOR INTERSECTIONS:

$1,130,000

$105/SF

10,735 SF

$51,364/Unit

22 Units ( 3 Affordable Housing Units)

21,908 SF

$51.58/SF

3 Stories

17,894 SF

2,625 SF

S. Vermont Ave & Manchester Ave

DESCRIPT ION

SINGLE - 1 UnitONE-BEDROOM - 9 UnitsTWO-BEDROOM - 12 units

SPECIF ICATION

PROJECT STATUS:

AVEVRAGE UNIT SF:

SUBTERANNEAN:

TYPE OF CONSTRUCTION:

ZONING:

TOC:

APN(s):

FAR REQUIREMENT:

PROPOSED FAR:

ALLOWABLE HEIGHT

FRONTAGE:

LOT DIMENSIONS:

TOTAL PROPOSED PARKING:

BICYCLY PARKING:

Unentitled

+/- 792 SF Avg.

1 Underground Level

Type V-8

LAC2

Tier 2

6038-020-047

1.15:1

1:3/25

45 Feet

84 Feet on S. Vermont Blvd.

84’ x 128’ (approx.)

27 spaces

25 spaces

DESCRIPT ION

PROPERTY DESCRIPT ION

Paci f i c Un ion Commerc ia l i s p leased to p resent fo r sa le an oppor tun i ty to invest in a 22-un i t Apar tment Deve lopment P ro jec t . I t ’ s g reat oppor tun i ty to bu i ld and own/sa le a wonder fu l locat ion in a very fas t g rowing par t o f Los Ange les . P lans a re in p lan check and expected RT I i s December 2018 . . Near pub l i c t ranspor ta t ion , schoo ls and shopp ing . P lease contact me fo r add i t ion-a l in fo rmat ion . P lans wi l l be p rov ided upon rece ip t o f a LOI , p roof o f funds and a b r ie f resume f rom the buyer . One two s to ry apar tments cur rent ly rented on month to month bas is . One vacant house , one vacant two s to ry res ident ia l un i t . One commerc ia l bu i ld ing used fo r a church on month to month bas is . P roper ty wi l l be de l i ve red wi th two res ident ia l tenants and the church .

VERMONT AVENUE

THE FORUM

8886 S. VERMONT AVENUE

AREA HIGHLIGHTS

THE FORUMThe Forum is a multi-purpose indoor arena in Inglewood, California, United States, adjacent to Los Angeles. The arena has capacity of 17,505. the “Fabulous” Forum re-opened on January 15, 2014 with the first of six historic performances by the legendary Eagles. On September 24, 2014, the Forum was listed on the National Register of Historic Places

• The property is zoned C2-1VL and lies within the Transit Oriented Communities (TOC) Tier 2 overlay, allowing an increase of 60% to density on the C2 zone with parking incentives reducing the minimum to a .5 stall per bedroom or 1 space per unit• The lot is 10,734 sf of land located on 8886-8904 S Vermont St Los Angeles, CA• Existing on the lot are three structures, a church, single family residence, and duplex unit. -Church: Month to Month Lease collecting $1,100/mo -Single Family Residence: Vacant -Duplex Unit: 2 Two-Bedroom Units, currently leased under Rent Controltotaling $2,400/mo• Near major commercial and residential upcoming projects: miles away from the airport, downtown and Inglewood• The proposed development would be 3 stories tall, given the 45 foot height limit, and allows for sufficient on-grade parking upon application of TOC incentives for 22 one & two bedroom units (19 market rate units and 3 Extremely Low Affordable Housing Units..

SUBJECT PROPERTY

AVERAGEAGE

AVERAGEHOUSEHOLD

INCOME

32,850 34.10 $49,634 408,741

TOTAL SPECIFIEDCONSUMER SPENDING

$2,436,693

POPULATIONTRAFFICCOUNTS

3 Miles 3 Miles 3 Miles 3 MilesS. Vermont Avenue & W. 90th Street

SOURCE: www.costar.com

S. VERMONT AVENUE

SITE PLAN

PARKING PLAN

FIRST FLOOR PLAN

SECOND FLOOR PLAN

THIRD FLOOR PLAN

ROOF PLAN

ELEVATIONS

This information has been secured from sources we believe to reliable, however we make no representation or warranties or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

ELIZABETH CLARK SENIOR VICE PRESIDENT

Beverly Hills Office150 S Rodeo Dr., Suite 100

Beverly Hills, CA 90212310.740.7283 Cell

[email protected] BRE: 01811246

DAVIS SAADIAN

Beverly Hills Office 150 S Rodeo Dr., Suite 100



SENIOR VICE PRESIDENTKRIS LOWRY

Beverly Hills Office 150 S Rodeo Dr., Suite 100



COMMERCIAL ASSOCIATE

8886 s. vermont avenue los angeles, ca 90044 22-unit ...€¦ · offering memorandum - $1,130,000...

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