a newly built 65-unit apartment building with a …€¦ · top floor lofts have dramatic 18’...

www.837SoHarvard.com

Open House Tour Dates:Wednesday, October 3, 2018 at 11:00 AM - 2:00PM

Thursday, October 11, 2018 at 11:00 AM - 2:00 PM

A NEWLY BUILT 65-UNIT APARTMENT BUILDING WITH A VESTING TENTATIVE TRACT MAP IN KOREATOWN

WILSHIRE BLVD

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WEST HOLLYWOODHOLLYWOOD

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KOREATOWN

S S

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W 8TH ST

WILSHIRE CENTER

SANTA MONICA CENTURY CITY

BEVERLY HILLS

WEST HOLLYWOOD

W 8TH ST

W 7TH ST

HARVARD ST

JAMES M

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PACIFIC OCEAN

WILSHIRE BLVD

MIRACLE MILE

S WESTERN AVE

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KOREATOWN

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W 8TH ST

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DOWNTOWN LA

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PACIFIC OCEAN

INTERIOR VIEW

PRIVATE ROOFTOP DECK


LAURIE LUSTIG-BOWER Executive Vice President Lic. 00979360 310.550.2556 [email protected]

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PAG E 1 2EXECUTIVE SUMMARY

PAG E 1 8 PROPERTY DESCRIPTION

PAG E 3 5FINANCIAL ANALYSIS

PAG E 4 0AREA OVERVIEW

KAMRAN PAYDAR Senior Sales Director Lic. 01242590 [email protected]

FARAJ KERENDIANKerendian PropertiesDRE Broker Lic: [email protected]

Open House Tour Dates:Wednesday, October 3, 2018 at 11:00 AM - 2:00 PM


INTERIOR VIEW


EXECUTIVE SUMMARY

“A NEWLY BUILT APARTMENT BUILDING WITH A VESTING TENTATIVE TRACT MAP

BOASTING A WALKSCORE OF 97 OUT OF 100”

www.837SoHarvard.com PAGE 13

CBRE, Inc. and Kerendian Properties, as exclusive agents are pleased to present for sale a newly built 65-unit apartment building with a vesting tentative tract map in the thriving Koreatown neighborhood of Los Angeles, California.

Located at 837 S. Harvard Boulevard, the Property boasts a WalkScore of 97 out of 100 – a “Walker’s Paradise” – and features spacious one-, two-, and three-bedroom units. Seven units feature dramatic 18’ ceilings, mezzanine/loft space and private rooftop decks. Common area amenities include secured access entry and gated parking, lobby seating area, fitness center and co-working space.

THE OPPORTUNITY – A NEWLY BUILT APARTMENT BUILDING


Best-in-class design and construction elements include Italian Kitchen Design cabinetry, Caesarstone countertops, Ottimo Ceramics, Inc. porcelain bathroom tile, Delta Trinsic Collection in Chrome plumbing fixtures, and Emtek interior door hardware.

THE OPPORTUNITY – CONTINUED


With the certificate of occupancy to be issued prior to the close of escrow, the Property is ready for immediate lease-up or future condominium sales at an opportune time in one of the most sought-after, densely populated multifamily submarkets in Los Angeles. The building will be delivered vacant.

Koreatown, with it’s vibrant mix of destination restaurants and hotels, employer concentrations, and access to Metro Purple Line subway portals is one of the most densely populated residential communities in the United States. The Property is located within convenient driving distance of key employment centers in Downtown Los Angeles, Hollywood, West Hollywood, Mid-Wilshire/Miracle Mile, Beverly Hills, and Century City.

THE OPPORTUNITY – CONTINUED


LOCATION HIGHLIGHTS

• Exceptional Walk Score of 97, a “Walker’s Paradise”.

• Outstanding Koreatown location:

– Proximate to trendy hotels and nightlife.

– An abundance of shopping centers and boutiques including Koreatown Galleria, Chapman Plaza, and

City Center on 6th.

– Area Restaurants include: Kang Ho-Dong

Baekjeong, Guelaguetza, Shin Beijing, Jihwaja Rice

Bakery, and Cake House.

– Area Amenities include: The Line Hotel, The Wiltern

Theater, Koreatown Plaza.

• Convenient to Key Los Angeles Employer Concentrations:

– Minimal travel time to Downtown Los Angeles,

Hollywood, West Hollywood, Mid-Wilshire/Miracle

Mile, Beverly Hills, and Culver City.

3Proximate to three Metro

subway portals. Wilshire/Normandie

Wilshire/Vermont Wilshire/Western

96.3%Submarket occupancy

Strong income potential

AERIAL

INTERIOR VIEW


PROPERTY DESCRIPTION

THE PROPERTY HAS A VESTING TENTATIVE TRACT MAP.

SPACIOUS 1-, 2-, AND 3-BEDROOM FLOORPLANS WITH LUXURY FINISHES.


ADDRESS837 South HarvardLos Angeles, CA 90005

ASSESSOR PARCEL NUMBER5093-017-043

NUMBER OF BUILDINGS1

NUMBER OF UNITS65

PARKING SPACES107 Gated Subterranean Parking

BUILDING SQUARE FEET±82,436 SF

YEAR BUILT2018

UTILITIESSeparately metered for gas, electricity, and water

Landlord pays for trash removal and sewer

MECHANICALCentral Heating and Air Conditioning

In-Unit Water Heaters

In-Unit Washer/Dryer Hookups

Unit Type Units

1 + 1 27

2 + 2 20

3 + 2.5 9

1 + 1 Townhouse 2

2 + 2 + Loft 6

3 + 2.5 + Loft 1

TOTAL 65

UNIT MIX

CBRE PAGE 20

COMMON AREA AMENITIES

Fitness Center

Community Room

Co-Working Space

Gated Parking

Elevator

Assignable Wrap Insurance For Potential Condo Sale

UNIT FEATURES

Top Floor Lofts have Dramatic 18’ Ceilings

Top Floor Lofts include Private Roof-Top Balcony

Some Penthouse units feature an elegant spiral staircase

In-Unit Washer/Dryer Hookups

Built-In Drawers and Pantries

Walk-In Closets

Kitchen Tile Backsplash

Tile Showers

Caesarstone Countertops

Italian Kitchen Design Cabinetry

Delta Trinsic® Collection in Chrome Plumbing Fixtures

Ottimo Ceramics Porcelain Bathroom Tile

Ma Maison Floors - Luxury Vinyl Tile

Emtek Interior Door Hardware


LIVING ROOM


BEDROOM


BEDROOMS


LIVING ROOM AND KITCHEN


LIVING ROOM AND DINING AREA


BEDROOM


DINING AREA AND KITCHEN


KITCHEN


BATHROOM


BEDROOM


FITNESS CENTER, LOBBY AND PARKING GARAGE


UNIT 504

BED

3

BATH

2.5

SQ.FT.

1,561

Click here for 3D Tour

https://my.matterport.com/show/?m=hY5NUFNWJca


BED

2 Loft

BATH

2

SQ.FT.

1,523

LOFT LOWER LEVEL

MEZZANINE

UNIT 604


https://my.matterport.com/show/?m=9EgJj2Rr9mu


BALCONY


https://my.matterport.com/show/?m=e9QqYZJ9cex


FINANCIAL ANALYSIS


Unit Number SF Type Projected Rent Rent $/SF101 1,236 2 + 2 $3,550 $2.87102 844 1 + 1 $2,900 $3.44103 839 1 + 1 $2,800 $3.34109 1,035 1 + 1 $2,800 $2.70110 1,144 2 + 2 $3,550 $3.10111 1,100 2 + 2 $3,450 $3.14112 1,103 2 + 2 $3,450 $3.13201 1,236 2 + 2 $3,650 $2.95202 844 1 + 1 $2,800 $3.32203 847 1 + 1 $2,800 $3.31204 1,522 3 + 2.5 $4,250 $2.79205 1,147 1 + 1 Townhouse $3,150 $2.75206 845 1 + 1 $2,900 $3.43207 1,576 3 + 2.5 $4,250 $2.70208 897 1 + 1 $2,800 $3.12210 1,138 2 + 2 $3,550 $3.12211 1,100 2 + 2 $3,550 $3.23212 1,103 2 + 2 $3,625 $3.29301 1,236 2 + 2 $3,750 $3.03302 845 1 + 1 $2,800 $3.32303 847 1 + 1 $2,800 $3.31304 1,522 3 + 2.5 $4,250 $2.79306 845 1 + 1 $2,900 $3.43307 1,576 3 + 2.5 $4,250 $2.70308 897 1 + 1 $2,800 $3.12309 935 1 + 1 $3,100 $3.31310 1,138 2 + 2 $3,750 $3.29311 1,100 2 + 2 $3,650 $3.32401 1,236 2 + 2 $3,750 $3.03403 846 1 + 1 $2,800 $3.31404 1,561 3 + 2.5 $4,250 $2.72405 1,148 1 + 1 Townhouse $3,250 $2.83406 845 1 + 1 $3,000 $3.55407 1,576 3 + 2.5 $4,250 $2.70

837 S. HARVARD BLVD.PROJECTED RENT ROLL

Unit Number SF Type Projected Rent Rent $/SF

837 S. HARVARD BLVD.PROJECTED RENT ROLL

408 897 1 + 1 $2,900 $3.23409 935 1 + 1 $3,000 $3.21410 1,138 2 + 2 $3,750 $3.29411 1,100 2 + 2 $3,750 $3.41412 1,103 2 + 2 $3,750 $3.40501 1,236 2 + 2 $3,950 $3.20502 845 1 + 1 $2,900 $3.43503 846 1 + 1 $2,900 $3.43504 1,561 3 + 2.5 $4,450 $2.85506 844 1 + 1 $3,100 $3.67507 1,576 3 + 2.5 $4,450 $2.82509 935 1 + 1 $3,000 $3.21510 1,138 2 + 2 $3,850 $3.38511 1,100 2 + 2 $3,750 $3.41512 1,103 2 + 2 $3,750 $3.40601 1,268 2 + 2 + Loft $4,750 $3.75602 845 1 + 1 $3,200 $3.79603 846 1 + 1 $3,200 $3.78604 1,523 2 + 2 + Loft $4,850 $3.18606 1,495 2 + 2 + Loft $4,950 $3.31607 1,575 3 + 2.5 + Loft $5,250 $3.33608 897 1 + 1 $3,300 $3.68609 935 1 + 1 $3,300 $3.53610 1,138 2 + 2 + Loft $4,950 $4.35611 1,100 2 + 2 + Loft $4,750 $4.32612 1,103 2 + 2 + Loft $4,650 $4.22

104A* 1,561 3 + 2.5 $777 $0.50209A* 935 1 + 1 $622 $0.63312A* 1,103 2 + 2 $699 $0.63402A* 845 1 + 1 $622 $0.76508A* 897 1 + 1 $622 $0.71

Total 72,133 $218,917

PROJECTED RENT ROLL

*Affordable Units

The building has just completed construction and is being sold on a vacant basis. The Projected Rent Roll provided is an estimate of the future rent anticipated.


UNIT MIX SUMMARY

Unit Type Units Avg SF Avg Rent Avg Rent/SF1 + 1 27 878 $2,691 $3.062 + 2 20 1,145 $3,526 $3.08

3 + 2.5 9 1,559 $3,909 $2.511 + 1 Townhouse 2 1,148 $3,200 $2.79

2 + 2 + Loft 6 1,271 $4,817 $3.793 + 2.5 + Loft 1 1,575 $5,250 $3.33


PROJECTED OPERATIONS

ESTIMATED INCOME Annual Per UnitRent Income $218,917 per mon. $2,627,004 $40,415 Per Projected Rent Roll

Total Scheduled Gross Income $2,627,004 $40,415Vacancy 5.0% of SGI ($131,350) ($1,988) Industry Standard

Total Net Rental Income $2,495,654 $37,763Pet Rent $750 per mon. $9,000 $138 Estimated Owner's IncomeOther Income $200 per mon. $2,400 $37 Estimated Owner's Income

TOTAL ESTIMATED INCOME $2,507,054 $37,939

ESTIMATED EXPENSES Annual Per UnitProperty Taxes 1.193027% of est. price Ad Valorem LA County Assessor's OfficeEstimated Direct Assessments $10,000 $154 LA County Assessor's OfficeBusiness Taxes $5,493 $85Insurance $0.35 per SF $28,853 $444 Industry StandardManagement Fee 3.0% EGI $75,212 $1,157 Estimated Owner's ExpensesOn-Site Manager Salary, Benefit, Rent Credit $5,000 per mon. $60,000 $923 Estimated Owner's ExpensesElectricity (Vacant Units and Building) $50 per mon. $840 $13 Estimated Owner's ExpensesWater $600 per mon. $7,200 $111 Estimated Owner's ExpensesSewer $500 per mon. $6,000 $92 Estimated Owner's ExpensesCleaning $1,000 per mon. $12,000 $185 Estimated Owner's ExpensesTurnover $300 per unit $19,500 $300 Estimated Owner's ExpensesRepairs and Maintenance $750 per unit $48,750 $750 Estimated Owner's ExpensesElevator Service $700 per mon. $8,400 $129 Estimated Owner's ExpensesExtermination $150 per mon. $1,440 $22 Estimated Owner's ExpensesLandscaping $250 per mon. $3,000 $46 Estimated Owner's ExpensesTrash Removal $900 per mon. $10,800 $166 Estimated Owner's ExpensesAdministration $1,000 per mon. $12,000 $185 Estimated Owner's ExpensesMarketing $250 per mon. $3,000 $46 Estimated Owner's ExpensesDewatering Sewer Charges $417 per mon. $5,000 $77 Estimated Owner's ExpensesReserves $250 per unit $16,250 $250 Industry Standard

TOTAL ESTIMATED EXPENSES BEFORE PROPERTY TAXES $333,737 $5,134

ESTIMATED NET OPERATING INCOME BEFORE PROPERTY TAXES $2,173,317 $33,436

837 S. HARVARD BLVD.PROJECTED OPERATIONS

INVESTMENT PRO FORMAComments

Criteria: Properties located in LA County, Year built 2000 or newer, 25 units or more, sold over $500 per square foot.

Source: CoStar, Sorted by Price Per Square FootProperty Address Zip Units Sale Price CAP $/Unit $/SF Bldg SF Built Date1318-1320 2nd St 90401 53 $56,784,000 $1,071,396 $1,352 42,000 2016 09/12/17348 S Hauser Blvd (Part of Multi-Property Sale) 90036 1132 $369,824,891 $326,700 $1,124 700,000 2005 07/05/17313 W California Ave 91203 183 $86,200,000 4.30% $471,038 $1,121 76,893 2017 08/01/188500 W Sunset Blvd (Part of Multi-Property Sale) 90069 110 $97,378,930 $885,263 $885 110,000 2017 06/27/17801 S Olive St (Part of Portfolio) 90014 363 $280,000,000 $771,349 $875 320,000 2017 05/19/18702 Arizona Ave 90401 106 $83,000,000 $783,019 $847 98,000 2015 12/27/16420 Santa Monica Blvd (Part of Portfolio) 90401 62 $64,300,000 $1,037,096 $843 76,290 2009 11/21/161511 15th St (Part of Portfolio) 90404 29 $17,600,000 $606,896 $782 22,495 2012 11/21/165555 W 6th St (Part of Multi-Property Sale) 90036 250 $81,675,109 $326,700 $766 226,975 2002 07/05/171411 N Highland Ave 90028 76 $52,000,000 3.60% $684,211 $763 68,137 2016 07/24/189901 Washington Blvd (Part of Portfolio) 90232 131 $94,500,000 $721,374 $763 123,879 2016 11/21/163584 S Figueroa St (Part of Portfolio) 90007 56 $66,250,000 $1,183,035 $693 95,639 2012 05/22/183700-3782 S Figueroa St 90007 120 $87,250,000 $727,083 $679 128,560 2006 06/28/16375 N La Cienega Blvd (Part of Portfolio) 90048 125 $80,500,000 $644,000 $665 121,000 2014 11/21/161430 5th St (Part of Portfolio) 90401 51 $44,000,000 $862,745 $664 66,304 2013 11/21/16770 S Grand Ave (Part of Portfolio) 90017 700 $374,000,000 $534,285 $648 577,000 2015 05/19/18530 W 27th St (Part of Portfolio) 90007 161 $96,250,000 $597,826 $633 152,000 2011 05/22/181502 Broadway St (Part of Portfolio) 90404 32 $17,600,000 $550,000 $606 29,064 2012 11/21/16680 S Berendo St 90005 321 $117,000,000 4.80% $388,704 $598 195,545 2014 09/21/17739 S Ogden Dr 90036 45 $27,100,000 3.40% $602,222 $591 45,844 2015 03/16/161001 S Olive St 90015 201 $110,000,000 $547,264 $589 186,679 2016 04/24/17130 S Sepulveda Blvd (Part of Portfolio) 90049 59 $35,100,000 $594,915 $573 61,295 2012 11/14/161420 5th St (Part of Portfolio) 90401 50 $44,000,000 $880,000 $560 78,534 2013 11/21/16685 S New Hampshire Ave 90005 177 $67,400,000 4.25% $380,791 $556 121,200 2016 10/06/171724 N Highland Ave 90028 270 $132,500,000 3.70% $490,741 $556 238,441 2010 01/03/17635 S Hobart Blvd 90005 159 $73,500,000 4.00% $462,264 $540 136,088 2008 03/01/165416 N Fair Ave (Part of Portfolio) 91601 438 $201,391,278 $459,797 $532 378,717 2007 09/19/173325-3329 S Canfield Ave 90034 28 $15,650,000 3.60% $558,929 $527 29,709 2006 06/27/1812000 Idaho Ave (Part of Portfolio) 90025 34 $23,120,000 $680,000 $527 43,894 2014 11/14/165520 Wilshire Blvd 90036 175 $105,000,000 $600,000 $525 200,000 2016 01/31/177045-7051 Lanewood Ave 90028 43 $23,665,000 $550,349 $524 45,123 2012 03/16/18819-829 Broadway (Part of Portfolio) 90401 97 $33,200,000 $342,268 $513 64,750 2011 11/21/16138 N Beaudry Ave 90012 210 $88,275,000 4.00% $420,357 $508 173,686 2008 06/20/18

3.96% $628,564 $695Average:

837 S. HARVARD BLVD.SOLD MULTI-FAMILY PROPERTY COMPARABLES


SOLD MULTI-FAMILY PROPERTY COMPARABLES


AREAOVERVIEW

“KOREATOWN IS IN FULL BLOOM”

Koreatown

Local Culture Meets Luxe StyleKoreatown is a gorgeous and densely packed three-quarter mile community offering a delightful fusion of history and hipsters. With its labyrinth of bistros, coffee shops, boutique hotels and endless shopping in readapted art deco structures with terra cotta facades, it has an approachable urban aesthetic that both charms and infuses this historic neighborhood with a life that is excitingly new. Local values and luxe style blend with ease and have transformed this area just west of downtown into one of the hippest neighborhoods around. Koreatown is in full bloom.

A Clash of Culture, Coffee and Culinary DelightsKoreatown never sleeps. It is known for having one of the largest concentration of bars, coffee shops and 24 hour restaurants and businesses in Southern California.

Vibrant & HipWith the trendy Line Hotel and the rooftop greenhouse restaurant Commissary, Koreatown is steeped in all things uber-hip.

“KOREATOWN IS KNOWN FOR HAVING ONE OF THE LARGEST CONCENTRATION OF BARS, COFFEE SHOPS AND 24 HOUR RESTAURANTS AND BUSINESS IN

SOUTHERN CALIFORNIA.”


Grocery Stores Located near 837 South Harvard

Jons Marketplace

H Mart

East West Market

Expresion Oaxaquena Market

Sahm Yook Foods Inc

Ralphs

Plaza Market

Sunny Grocery

California Market

Galleria Market

Zion Market

Hannam Supermarket

Lodging

Shelter Hotels

The Line Hotel

JJ Grand Hotel

Oxford Palace Hotel & Galleria

Hotel Normandie LA

Garden Suite Hotel

Attractions Venues Located Near 837 South Harvard

The Wiltern

Korean American National Museum

CGV Cinemas Movie Theater

Marciano Foundation

Shatto 39 Lanes

Grier Musser Museum

Apt 503 Bar

Palmtree L.A.

Dan Sung Sa

Brass Monkey

Gaam

Lock & Key

Beer Belly

Rosen Music Studio

Feel Karaoke

Frank ‘N Hank

Break Room 86

Cafe Bleu

837 South Harvard is proximate to some of

Koreatown’s best food, culture and shopping

destinations.


AREA AMENITIES


NEARBY RESTAURANTS

© 2018 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBREneither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. TheInformation is protected by copyright and shall be fully enforced.

Layout ID:L04 MapId:5732160


© 2018 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBREneither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. TheInformation is protected by copyright and shall be fully enforced.


nearby Parks

Ardmore Recreation Center

South Serrano Avenue Historic District

Normandie Playground

Shatto Recreation Center

Lafayette Park

Wilton Historic District

Harold A Henry Park

Robert Burns Park

MacArthur Park

Seoul International Park

Pico Union Park

Burns Park

famed KOREATOWN Restaurants

The Prince Restaurant & Bar

The Prince is well known bar in Koreatown because it has been used for many television series and movie productions, such as Criminal Minds, The Defenders, Mad Men, New Girl, Eagleheart, Chinatown, Thank You for Smoking, and Prime Suspect.

Park’s Barbeque

“This is the premier Korean barbecue restaurant in Koreatown, and Park’s BBQ delivers with prime grade meats served at the table, along with a slew of other traditional Korean dishes in a clean, smoke-less ambiance. The quality of the meat and banchan is simply unsurpassed. Rivals some of the best in Seoul itself.”

EaterLA

“KOREATOWN’S ARCHITECTURALLY RICH

NEIGHBORHOODS FEATURE ART DECO

BUILDINGS WITH TERRA COTTA FACADES.”


KOREATOWN AREA HIGHLIGHTS

© 2016 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified byeither CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take suchsteps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

Koreatown Shopping Malls


837 S HARVARD BLVD

Koreatown Galleria

Madang Plaza Shopping Mall

Vermont Galleria

City Center On 6Th

Koreatown Plaza

2

3

1

5

4

2

3

1

5

4


KOREATOWN SHOPPING MALLS

Koreatown is a growing, educated, densely populated area. It is the most densely populated district in Los Angeles County.

Populat ion*2017 Population - Current Year Estimate 649,349

2022 Population - Five Year Projection 672,599

2017 HOUSEHOLDs *2017 Population - Current Year Estimate 233,290

2022 Population - Five Year Projection 241,329

Median Age*2018 Median Age 33.9

Renter Occupied Housing Units1 Mile

2017 Renter Occupied Housing Units 85.1%


DEMOGRAPHICS

*Stats shown based on 3-mile radius

Daily Traff ic Counts

W. 8th St. @ Harvard Blvd. 15,120

W. 8th St. @ Western Ave. 41,094

S. Harvard @ Olympic Blvd. 44,375

S. Harvard @ Wilshire Blvd. 26,520

Area employment3 Miles

Businesses 27,540

Employees 283,918


AREA EMPLOYMENT & TRAFFIC COUNTS

KOREATOWN

PACIFIC OCEAN


AREA ATTRACTIONS WITHIN DRIVING DISTANCE

drive t ime by locat ion

LOCATION NAME DRIVE TIME FROM 837 S. HARVARD BLVD

Larchmont Village 10 Minutes

Downtown Los Angeles 15 Minutes

Hollywood 16 Minutes

The Grove 17 Minutes

West Hollywood 23 Minutes

Culver City 25 Minutes

Glendale 29 Minutes

Beverly Hills 29 Minutes

Burbank Airport 36 Minutes

LAX 41 Minutes


DRIVE TIMES

Metro Purple L ine Metro Rail is the rapid transit rail system consisting of six separate

lines (the Blue, Red, Purple, Green, Gold and Expo Lines) which

cumulatively serve 80 stations throughout Los Angeles County.

837 South Harvard is located near three Metro Purple Line subway

portals at Wilshire/Western, Wilshire/Normandie, and Wilshire/

Vermont. The Purple line provides immediate access to the Metro

Red Line with further service to Hollywood. The Red Line has daily

ridership of over 200,000 passengers and directly links Downtown

Los Angeles, Koreatown, Hollywood, and North Hollywood,

terminating at the 7th St./Metro station. This station is a transfer

point to the Blue Line to Long Beach and the Expo Line to Santa

Monica. Along the Red Line, located above its namesake station,

Pershing Square is a popular spot for seasonal free concerts and

outdoor screenings, or you can get a quick bite at the lively Grand

Central Market. The Music Center (including Walt Disney Concert

Hall, the Ahmanson Theatre and Mark Taper Forum, and Dorothy

Chandler Pavilion) and the Museum of Contemporary Art (MOCA)

are among the cultural destinations near the Civic Center station.

The Purple Line currently terminates at Wilshire/Western Station

in the heart of Koreatown. The currently under construction Purple

Line Expansion will eventually extend the Purple Line to West Los

Angeles, offering a dependable alternative for commuters traveling

between Downtown Los Angeles, Miracle Mile, Beverly Hills, and

Westwood.

Los

Ange

les

Rive

r

Los Angeles River

PACIFIC OCEAN

CRENSHAW/

PURPLE LINE EXTENSION

REGIONAL CONNECTOR

LAX LINE

LAX

Universal C

ity/Studio City

Hollywood/V

ine

Hollywood/H

ighland

Universal C

ity/Studio City

Civic Ctr/

Civic Ctr/

Civic Ctr/

Civic Ctr/

GrandGrandGrandGrand

ParkParkParkPark

Westlake/M

acArthur P

ark

Warner Ctr

Roscoe

Pico/Alis

o

Mariach

i Plaza

Long Beach Bl

Artesia

Del Amo

Civic Ctr/

GrandPark

Allen

LakeSierra

Madre Villa

Arcadia

Monrovia

Duarte/City

of Hope

Irwindale

Azusa Downtown

APU/Citrus Colle

ge

Lincoln/Cypress

Heritage Sq

Southwest Museum

Highland Park

Fillmore

Del Mar

Memorial Park

South Pasadena

Westlake/M

acArthur P

ark

Wilshire

/Vermont

Pershing

Chinatown

Union Station

Chinatown

Square

7th St/Metro CtrPico

LATTC/OrthoInstitute

Jefferson/U

SC

LAX FlyAwayAmtrak & MetrolinkLAX FlyAway

LAX FlyAwayLAX FlyAway

LAX FlyAway

LAX FlyAway

LAX FlyAway

LAX FlyAway

LAX Shuttle G

Amtrak & MetrolinkMetro

link

Sherman Way

Warner Ctr

Roscoe

Nordhoff

Chatsworth

Hollywood/W

estern

Vermont/S

anta MonicaHolly

wood/Western

Hollywood/V

ine

Hollywood/H

ighlandNorth

Hollywood

Balboa

Balboa

Woodley

Sepulveda

Sepulveda

Van Nuys

Van Nuys

Woodman

Valley Colle

ge

Laurel Canyo

n

Canoga

Canoga

De Soto

De Soto

Pierce Colle

ge

Pierce Colle

ge

Tampa

Tampa

Reseda

Reseda

Vermont/B

everly

Vermont/S

anta Monica

Vermont/S

unset

Vermont/S

unset

Amtrak & Metrolink

Soto

Indiana

Maravilla

East LA Civic C

tr

Atlantic

El Monte

Cal State LA

LAC+USC Medica

l Ctr

Pico/Alis

o

Mariach

i Plaza

Wilshire

/

Normandie

Wilshire

/Western

ExpoPark

/USC

Expo/Vermont

Expo/Western

Expo/Crenshaw

Farmdale

Expo/La Brea

La Cienega/Jefferson

Culver C

ity

Palms

Westwood/R

ancho Park

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

Expo/Sepulveda

Expo/Bundy

26th St/Bergamot

17th St/S

MC

Downtown Santa Monica

Mariposa

El Segundo

Douglas

Redondo Beach

37th St/USC

Rosecrans

Harbor

Carson

Pacific CoastHwy

GatewayTransit Ctr

Long Beach Bl

AvalonVerm

ont/

AthensCrenshaw

Hawthorne/Lennox

Aviation/L

AX

Lakewood Bl

Norwalk

Norwalk

Slauson

Manchester

Harbor F

wy

5th St

1st St

PacificAv

DowntownLong Beach

PacificAv

Washington

Vernon

Slauson

Florence

Firestone

Compton

Artesia

Del Amo

Wardlow

Willow St

Pacific Coast Hwy

Anaheim St

103rd St/

Willowbrook/Rosa Parks

Watts Towers 103rd St/

Willowbrook/Rosa Parks

DowntownLong Beach

Grand/LATTC

San Pedro St

Watts Towers

Union Station

Little To

kyo/

Little To

kyo/

Arts Dist

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SOUTH LA

CENTRAL LA

SAN FERNANDO VALLEY

SAN GABRIEL VALLEY

EASTSIDE

SOUTH BAY

San Pedro

GATEWAY CITIES

DOWNTOWNLA

SANTAMONICA

SOUTH LA

CENTRAL LA

WESTSIDE

metro.netMetro Rail & Busway

North Hollywood to Union Station

Metro Rail

Wilshire/Western to Union StationPurple Line

Blue Line

Expo Line

Orange Line

Amtrak

LAX FlyAway

Metrolink

Metro Busway

Regional Rail

Green Line

Gold Line

Downtown LA to Long Beach

Downtown LA to Santa Monica

Redondo Beach to Norwalk

East Los Angeles to Azusa

Silver Line Chatsworth to North Hollywood

San Pedro to El Monte

amtrak.com

metrolinktrains.com

lawa.org/flyaway

LAX Shuttle (free)lawa.org

Street Service in Downtown LAand San Pedro

MAY 2016 Subject to Change

Airport Shuttle

Rail Station

StationTransfer

Busway

Station

UNDERCONSTRUCTION

Busway StreetService

Red Line

17-2

413M

M ©

2017

LAC

MTA

APR 2017 Subject to Change


TRANSPORTATION

Purple L ine extension from koreatown to beverly h ills

and west LA


AFFILIATED BUSINESS DISCLOSURE

CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

CONFIDENTIALITY AGREEMENTYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

DISCLAIMERThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

Copyright Notice

© 2018 CBRE, Inc. All Rights Reserved.

CBRE, Inc. Broker Lic. 00409987

© 2018 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

For more information,please contact:

LAURIE LUSTIG-BOWER Executive Vice President

Lic. 00979360 310.550.2556

[email protected]

KAMRAN PAYDAR Senior Sales Director

Lic. 01242590 310.550.2529

[email protected]

FARAJ KERENDIANKerendian Properties

DRE Broker Lic: 01022002323.640.7000

[email protected]


Open House Tour Dates:Wednesday, October 3, 2018 at 11:00 AM - 2:00PM


A NEWLY BUILT 65-UNIT APARTMENT BUILDING WITH A VESTING TENTATIVE TRACT MAP IN KOREATOWN

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