offering memorandum 12240 pacific ave los …...designs mixed with quirky style has developed into a...

OFFERING MEMORANDUM

12240 PACIFIC AVE

LOS ANGELES, CA 90066

BRETT LYON

(310) 780-1899

[email protected]

LIC. 01717818

WOODY STAHL

(310) 710-3829

[email protected]

LIC. 01399621

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12240 PACIFIC AVE


LYON STAHL INVESTEMENT REAL ESTATE • 2

TABLE OF CONTENTS

THE PROPERTY 3

Property Overview / Highlights

Property Photographs

Floor Plan

Local Map

Aerial Map

THE FINANCIALS 14

Financial Overview

Rent Roll

COMPARABLES 17

Sold Comparables

Sold Comparables Map

Lease Comparables

Lease Comparables Map

On-Market Comparables

On-Market Comparables Map

THE LOCATION 26

City Overview

County Overview

DISCLAIMER AND CONFIDENTIALITY AGREEMENT 33

OFFERING MEMORANDUM

12240 PACIFIC AVE

Los Angeles, CA 90066

LYON STAHL INVESTMENT REAL ESTATE

PROPERTY

OVERVIEW

12240 PACIFIC AVE



PROPERTY OVERVIEW

PROPERTY SUMMARY

PRICE $6,899,000

ADDRESS 12240 Pacific Ave

CITY, STATE, ZIP Los Angeles, CA 90066

COUNTY Los Angeles

YEAR BUILT 1964

NUMBER OF UNITS 13

BUILDING SIZE 6,532 SF

LOT SIZE 7,500 SF

CAP RATE 3.81%

PRO FORMA CAP RATE 4.28%

GRM 17.71

PRO FORMA GRM 15.99

PRICE / BLDG SF $1,056.18

PRICE / LOT SF $919.86

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PROPERTY OVERVIEW

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PROPERTYPHOTOGRAPHS

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STUDIOPHOTOGRAPHS

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1-BED/1-BATH PHOTOGRAPHS

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FIRST FLOORFLOOR PLAN

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SECOND FLOORFLOOR PLAN

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GARAGE & PARKING LAYOUT

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LOCAL MAP

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AERIAL MAP

OFFERING MEMORANDUM

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FINANCIAL

OVERVIEW

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FINANCIAL OVERVIEW

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RENT ROLL

OFFERING MEMORANDUM

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COMPARABLES

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Address Price Units Year BuiltBuilding

SizePrice/Unit Price/SF Cap Rate GRM DOM

Averages $4,648,750 9.5 N/A 7,779 SF $504,361 $593.59 3.97% 17.04 N/A

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2

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ON-MARKET COMPARABLES

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ON-MARKETCOMPARABLES MAP

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Address Price UnitsYear Built

Building Size Price/Unit Price/SF Cap Rate GRM Sale Date

Averages $2,961,250 12 N/A 9,541 SF $331,070 $430.99 3.95% 17.92 N/A

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SOLD COMPARABLES

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SOLDCOMPARABLES MAP

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Address Date Leased Year Built Unit Type Unit Size Rental Rate

Averages N/A N/A 1-Bed/1-Bath 712 SF $2,438

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4

LEASE COMPARABLES

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LEASE COMPARABLES MAP

OFFERING MEMORANDUM

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LOCATION

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LOCALRETAIL/RESTAURANTS

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SILICON BEACH

COMPANY MAP

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CITY PROJECTS

Ivy Station was envisioned as 500,000 square feet of high quality, state-

of-the-art office, with 200 apartments, a hotel, stores and restaurants

within a landmark, destination-oriented environment.

The highly-anticipated upcoming Culver City development, is located

at the intersections of Venice, Washington and National Boulevards.

Just adjacent to the Metro Expo Line of Culver City, this area is

expected to become an energetic center of life for residents and

visitors alike.

12240 PACIFIC AVE



CITY PROJECTS

Google will occupy 584,000 square feet of the prominent Pico Boulevard

center (formerly known as the Westside Pavilion). Owner Hudson Pacific

Properties Inc. announced it is renovating into a stylish office complex with

street-to-rooftop windows. The property has been renamed One Westside as

part of its radical mall to creative office renovation, which has been

budgeted for as much as $360 million before Google starts adding its own

improvements.

“Google’s selection of One Westside demonstrates the strength of the Los

Angeles tech and media industries and exemplifies the type of creative office

space that is in demand from large tech and media tenants,” Hudson

Pacific’s Chief Executive Victor Coleman said. Google can be expected to

occupy the space in 2022

12240 PACIFIC AVE



Mar Vista has developed into one of LosAngeles’ most desirable neighborhoods MarVista is one of Los Angeles’ westside's hottestsubmarkets, just a short distance from Venice,Culver City, Santa Monica and the prime retailcorridors on Rose Avenue and Abbot KinneyBoulevard.

Filled with trendy coffee shops, restaurants,salons, book stores, and studios, Mar Vista hasdeveloped into one of Los Angeles’ mostdesirable neighborhoods with cutting-edgedesigns mixed with quirky style has developedinto a neighborhood where foodies, families,local artists and bohemians come together attop eateries and neighborhood haunts.

Surrounded by Venice, Santa Monica, CulverCity and West Los Angeles, and with closeproximity to the beach as well as the 405freeway, Mar Vista is a convenientneighborhood with easy access to the best theWestside has to offer.

CITY OVERVIEW

12240 PACIFIC AVE



Los Angeles County is the most heavily populated county withapproximately 9.9 million people, including about 1 million thatlive in unincorporated areas of the county. The metropolis –formed by the six neighboring counties of Los Angeles, Ventura,Kern, San Bernardino, Riverside, and Orange – is home toapproximately 19 million residents. Los Angeles County is home toone of the most educated labor pools in the country and offers alabor force of more than 4.7 million, of which more than 1.5 millionare college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eightstates According to the United States Conference of Mayors, LosAngeles County boasts a GDP among the twenty largest in theworld. Los Angeles County’s continued economic growth, incontrast to other areas of the state and nation, is due to itsdiversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast ofCalifornia, and covers 4,061 square miles, including the SanClemente and Santa Catalina islands. The county is comprised ofapproximately 88 vibrant and diverse cities hosting more than244,000 business establishments – the greatest concentration inthe state. Los Angeles County has a Gross Domestic Product(GDP) of approximately $446 billion – placing it among the top 20economies in the world. The combined GDP of Los Angeles andits five surrounding neighboring counties places it in the top 10.California is generally considered to be in the top five.

If Los Angeles County were its own nation, its economy would bethe 18th largest in the world. It is home to more than 244,000businesses, with more minority and women owned businessesthan any other state in the nation and is the nation’s topinternational trade center and manufacturing center. LosAngeles is recognized worldwide as a leader in entertainment,health sciences, business services, aerospace and internationaltrade. Because the Los Angeles area is so large and diverse, it hassomething to offer everyone. While Hollywood and the LosAngeles beach culture are part of our collective image of LosAngeles, the city also has more museums than any other city andsome of the best hotels in the world.

COUNTY OVERVIEW

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is

intended to be reviewed only by the party receiving it from Broker and should not be made available to anyone else without

the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you

will hold it in the strictest confidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in

the subject property (“Property”). The information in this Memorandum has been obtained from sources Broker believes to be

reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever

including but not limited to the accuracy or completeness of the information, veracity or accuracy of the information,

condition of the Property or its compliance or lack of compliance with applicable governmental requirements,

developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square

footage of the Property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the

compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition

or business Property and does not purport to be an all – inclusive representation regarding the Property or to contain all or

part of the information which prospective investors may require to evaluate the purchase of the Property. Additional

information and an opportunity to investigate the Property will be made available to interested and qualified prospective

purchasers. All information is based on assumptions relating to the general economy, market conditions, competition and

other factors beyond the control of Broker, therefore, all information is subject to material variation. The information

contained herein is not a substitute for a thorough due diligence investigation. Interested parties are expected to review all

information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the

Property, and/or to terminate discussions at any time with or without notice. The Owner shall have no legal commitment or

obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any

conditions to the Owner’s obligations therein have been satisfied or waived.

DISCLAIMER & CONFIDENTIALITY AGREEMENT


BRETT LYON

(310) 780-1899

[email protected]

LIC. 01717818

WOODY STAHL

(310) 710-3829

[email protected]

LIC. 01399621

offering memorandum 12240 pacific ave los …...designs mixed with quirky style has developed into a...

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