offering price: $1,79 · 2020. 7. 21. · 2.ursuant to lamc section 12.22 a.25(g)(3), the applicant...

Jonathan PrakashExecutive Managing Director, Partner

310.301.2351 | [email protected]

DRE: #01483131In Association with KW Commercial

Derrick VartanianExecutive Managing Director, Partner

310.301.2353 | [email protected]

DRE: #01816119

4712 & 4716 S Normandie Avenue. Los Angeles, CA 90037 Offering Price: $1,795,000

EXCLUSIVE DEVELOPMENT OPPORTUNITY - 11,014 SF LOT ZONED C2-1VL

MVP CalDRE 02004120

BRING ALL OFFERS!!!

24712 & 4716 S Normandie Avenue. Los Angeles, CA 90037

MVP Commercial 3

TABLE OF CONTENTS

OFFERING MEMORANDUM


In Association with KW Commercial

1. THE PROPERTY

Summary Of Terms

2. EXECUTIVE SUMMARY

The Offering & Investment & Location Highlights

3. DEVELOPMENT ANALYSIS BY

Development By Right And 100% Affordable Housing

4. MARKET OVERVIEW

City Of Los Angeles

Geography

Submarket

Greater La Area

Demographics

Major Employers

Retail Centers

Colleges & Universities

Health Care Centers

Parks And Recreation

6

7

8-11

12

13

14

15

16

17

18

19

20

21

CalDRE 02004120

MVP Commercial 5

Norm

andie Ave

4712 & 4716 S NORMANDIE AVE LOS ANGELES, CA 90037

4712 & 4716 S Normandie Avenue. Los Angeles, CA 90037 6

THE PROPERTY

SUMMARY OF TERMS4712 S Normandie Ave. LA CA 90037 (APN # 5017-004-003)

4716 S Normandie Ave. LA CA 90037 (APN # 5017-004-025)

PARCEL MAP

There are several developments either in the planning phase or being constructed

in a 1 mile radius of the subject property. The parcels directly across the street

located on Normandie Ave and W 48th St recently sold for $1,850,000 ($176.97

per Lot SF) in February 2019. See the information on the left in regards to the

new owner’s Proposed Project: 100% Affordable Housing for 43 Units (BUYER

TO VERIFY). Further, the building directly adjacent to the north of the subject

parcels is currently for sale as well.

Price

Total Lot Size

Zoning

Price per Lot Square Foot

Transit Oriented Community (TOC)

Frontage

Opportunity Zone

Number of Existing Buildings

Building Size and Age

$1,795,000

11,014 SF

C2-1VL

$162.97

Tier 2

Approximately ≈ 90 Feet

No

One

750 SF | 2001

To Owners: ☐ Within a 100-Foot Radius And Occupants: ☐ Within a 100-Foot Radius Within a 500-Foot Radius Within a 500-Foot Radius

☐ Abutting a Proposed Development Site And: Interested Parties/Others

This notice is sent to you because you own property or are an occupant residing near a site for which an application was filed with the Department of City Planning. All interested persons are invited to attend the public hearing where you may listen, ask questions, and/or present testimony regarding the project. The environmental document, will be among the matters considered at the hearing. The hearing officer or decision-maker may consider all the testimony presented at the hearing, written communications received prior to or at the hearing, and the merits of the project as it relates to existing environmental and land use regulations. Please note that your attendance at the hearing is optional.

Project Site: 4719-4721 South Normandie Avenue, 1409-1411 West 48th Street Case No. CPC-2019-2592-DB-CU-SIP Council District: 8 – Harris-Dawson CEQA No. Exempt from CEQA per Senate Bill 35 Related Cases: None Held By: Hearing Officer on behalf of the

City Planning Commission Date: July 18, 2019 Plan Area South Los Angeles Time: 1:00 p.m. Zone: C2-1VL-CPIO

Place: Los Angeles City Hall, Room 1020 200 N. Spring St. Los Angeles, CA 90012 (Please use the 201 N. Main Street entrance)

Plan Overlay: South Los Angeles Alcohol Sales; South Los Angeles Community Plan Implementation Overlay (“CPIO”) Subarea General Corridor

Land Use: Neighborhood Commercial

Staff Contact: Connie Chauv, City Planning Associate 200 North Spring Street, Room 721 Los Angeles, CA, 90012 [email protected] (213) 978-0016

Applicant: Chesterfield Apartments, LP

Representative: Jessica Hencier, Craig Lawson & Co., LLC

PROPOSED PROJECT: The project is the construction, use, and maintenance of a 5-story, 67-foot tall residential building comprised of 43 dwelling units (100% affordable, exclusive of one market-rate manager’s unit, including 5 Very Low Income and 37 Low Income units). The project will provide four (4) parking spaces at grade level, and will provide 38 long-term and 6 short-term bicycle parking spaces. The project will be 28,807 square feet in floor area with a Floor Area Ratio (“FAR”) of 2.73:1. The site currently serves as surface parking, with no trees on the subject site or right-of-way.

REQUESTED ACTION(S): 1. Pursuant to LAMC Section 12.22 A.25(g)(3), a ministerial review of a Density Bonus Compliance Review, for a project totaling 43 dwelling units,

including 5 dwelling units for Very Low Income household occupancy and 37 dwelling units for Low Income household occupancy for a period of 55 years, with the following three (3) Off-Menu Incentives:

a. A 12-foot Ground Floor Height in lieu of the 14-foot Ground Floor Height, as measured from the finished floor to the underside of the structure above as otherwise required by CPIO Section II-2.A.1(a);

b. A 2.73:1 FAR in lieu of the otherwise permitted 1.5:1 FAR for the C2-1VL-CPIO Zone; andc. A building height of 67 feet and 5 stories, in lieu of the 45 feet and 3 stories otherwise permitted by the C2-1VL-CPIO Zone;

2. Pursuant to LAMC Section 12.22 A.25(g)(3), the Applicant requests the following four (4) Waivers of Development Standards:a. A 15-foot rear yard in lieu of the 17 foot rear yard otherwise required for a 5-story building in the C2-1VL-CPIO Zone;b. A 5-foot northerly side yard in lieu of the 8 foot side yard otherwise required for a 5-story building in the C2-1VL-CPIO Zone;c. A 0-foot southerly side yard in lieu of the 8 foot side yard otherwise required for a 5-story building in the C2-1VL-CPIO Zone; and d. A 30 percent reduction in required open space for 3,028 square feet of open space in lieu of 4,325 square feet otherwise required by

LAMC Section 12.21 G.Initial HN (Non-Commission) –rev. 03/27/19 Page 2

3. Pursuant to Los Angeles Municipal Code (“LAMC”) Section 12.24 U.26, a ministerial review of a Conditional Use for a 48 percent increase in density over the project site, for 43 dwelling units in lieu of the otherwise permitted base density of 29 dwelling units.

4. Pursuant to California Government Code (“Gov.”) Section 65913.4, a ministerial review of a Streamlined Infill Project that satisfies all of the objective planning standards of Gov. Section 65913.4(a) and is therefore subject to the streamlined, ministerial approval process provided by Gov. Section 65913.4(b) and (c).

5. Pursuant to Gov. Section 65913.4 and Public Resources Code Section 21080(b)(1), determine based on the whole of the record, that the Streamlined Infill Project is Statutorily Exempt from the California Environmental Quality Act (“CEQA”) as a ministerial project.

Puede obtener información en Español acerca de esta junta llamando al (213) 978-1300

_______________________________

GENERAL INFORMATION

FILE REVIEW - The complete file is available for public inspection between the hours of 8:30 a.m. to 4:00 p.m., Monday through Friday. Please call or email the staff identified on the front page, at least three (3) days in advance to assure that the files will be available. Files are not available for review the day of the hearing.

TESTIMONY AND CORRESPONDENCE - Your attendance is optional; oral testimony can only be given at the public hearing and may be limited due to time constraints. Written testimony or evidentiary documentation may be submitted prior to, or at the hearing. Decision-makers such as Associate Zoning Administrators function in a quasi-judicial capacity and therefore, cannot be contacted directly. Any materials submitted to the Department become City property and will not be returned. This includes any correspondence or exhibits used as part of your testimony.

REQUIREMENTS FOR SUBMISSION OF MATERIALS – Written materials may be submitted prior to the hearing via email, in person or by U.S. mail to the staff identified on the front of this page or to the decision-maker or hearing officer at the public hearing. An original plus three (3) copies must be submitted prior to, or at the hearing. To the extent possible, please also submit all materials electronically (flash drive, CD or via email). Materials must be presented on letter size (8 ½ " x 11") or legal size (8 ½ " x 14") paper. All oversized exhibits must be folded to fit into a legal-sized folder. Plans (i.e. site plans, floor plans, grading plans) must be presented on paper size not smaller than ledger size (11” x 17”). The case number must be written on all communications, plans and exhibits.

EXHAUSTION OF ADMINISTRATIVE REMEDIES AND JUDICIAL REVIEW - If you challenge these agenda items in court, you may be limited to raising only those issues you or someone else raised at the public hearing agenized here, or in written correspondence on these matters delivered to this agency at or prior to the public hearing. If you seek judicial review of any decision of the City pursuant to California Code of Civil Procedure Section 1094.5, the petition for writ of mandate pursuant to that section must be filed no later than the 90th day following the date on which the City's decision became final pursuant to California Code of Civil Procedure Section 1094.6. There may be other time limits which also affect your ability to seek judicial review.

ACCOMMODATIONS - As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability. The hearing facility and its parking are wheelchair accessible. Sign language interpreters, assistive listening devices, or other services, such as translation between English and other languages, may also be provided upon written request submitted a minimum of seven (7) working days in advance to: [email protected]. Be sure to identify the language you need English to be translated into, and indicate if the request is for oral or written translation services. If translation of a written document is requested, please include the document to be translated as an attachment to your email.

MVP Commercial 7

EXECUTIVE SUMMARY

THE OFFERINGSUBJECT PROPERTY :

4712 & 4716 S Normandie Ave. LA CA 90037

MVP Commercial Investment Real Estate of KW Commercial is pleased to

present this Development Opportunity in the Vermont Square neighborhood

in Los Angeles located at 4712 and 4716 S Normandie Avenue Los Angeles,

CA 90037. The site consists of two parcels (APN # 5017-004-003 and APN

# 5017-004-025) that are currently being used as a Car Dealership: there is

one structure on the parcels that is approximately 750 Square Feet built in

2001. However; both parcels can be delivered vacant at the close of Escrow

or with a Sale Leaseback with the current Tenant to the new Buyer.

Both parcels consist of a total of 11,014 Lot Square Footage zoned C2-1VL with

approximately 90 feet of frontage along Normandie Avenue. Also, the

Development Opportunity is located in a Tier 2 Transit Oriented Community (TOC) as

well as being situated in a Community Plan Implementation Overlay (CPIO)

for South Los Angeles. The property could be developed for Retail, Multifamily,

or Mixed Use. The site currently has access to the following utilities: Water

and Electricity. The property is located just south of the intersection of West

Vernon Avenue and South Normandie Avenue. This is a fantastic opportunity

to develop in one of Los Angeles’s up and coming communities.

A savvy Developer or Non-Profit Organization could take advantage of these

programs in order to increase the number of buildable units through density

bonuses at the Development Site as well as look at a 100% Affordable Housing

Project which would significantly reduce parking costs. Lastly, the owners have

owned the parcels for over 10 years which could also be an extra tax incentive

(BUYER TO VERIFY).

INVESTMENT & LOCATION HIGHLIGHTS

• 11,014 Square Foot Lot Zoned C2-1VL

• Located in a Transit Oriented Community (TOC) - Tier 2

• Property can either be Delivered Vacant at COE or with a

Sale Leaseback with the Current Tenant

• 90 Feet of Frontage along Normandie Avenue

• Located in the Highly Desirable Vermont Square

Neighborhood

• Easy Access to the 110 Freeway

• Close to the University of Southern California (USC), Rams

Stadium at Hollywood Park, and the Slauson Mall

Brick+Work

https://www.brickwork.la/properties/normandie-ave-south-la-100-affordable-housing/

Normandie Ave., South LA 100% Affordable Housing

Los AngelesAddress:

Normandie Ave., South LA 100% Affordable HousingTitle:

APN: 5017-004-003 and 5017-004-025

$ 1.85MPrice:

4712-4716 S Normandie Ave. Los Angeles, CA 90037

REQUEST INFO

C2-1VL-CPIO

Zone/District

51

Max Unit

11,014 sq. ft.

Lot Size

Tier 2

TOC

2

Lots

Existing Conditions

Floor Area 750 sq. ft.

Units 0

Year Constructed 2001

Assessed Improvement Value $71,584

Assessed Land Value $154,579

Development Potential (By-Right)

Maximum FAR 1.5:1

Maximum Height

DEVELOPMENT ANALYSIS (1 of 4)

Brick+Work


Feet 45 ft.

Stories 3

Minimum Setbacks

Front 0 ft.

6 ft. for residential uses on ground floor

Side 0 ft.

10% lot width side setback (3 ft. min, 5 ft. max) required if residential

uses at lowest story (add 1 foot of side setback for each story over 2, not

to exceed 16 ft.)

Back 0 ft.

15 ft. rear setback required if residential uses at lowest story (add 1 foot

of back setback for each story over 3, not to exceed 20 ft.)

Max Buildable Area, Footprint 11,014 sq. ft.

Max Buildable Area, Envelope 16,521 sq. ft.

Max Dwelling Units 14

Affordable Units Required None

Parking Required 1 space per unit with less than 3 habitable rooms

1.5 spaces per unit with 3 habitable rooms

2 spaces per unit with more than 3 habitable rooms

1 space per guest room (first 30)

Required Bicycle Parking

Long Term 1 per dwelling unit or guest room

Short Term 1 per 10 dwelling unit or guest room

Transitional Height Limitations Where a parcel is either abutting or across an alley from a

property in the RD1.5 or more restrictive zone, the building

height shall be stepped back within a 45-degree angle as

measured 15 ft. above grade at the property line of the lot

in the more restrictive zone.

Required Open Space 100 sq ft per unit with less than 3 habitable rooms

125 sq ft per unit with 3 habitable rooms

175 sq ft per unit with more than 3 habitable rooms

Other Development Notes By-right projects limited to R3 density by-right

Development Potential (with TOC or DB)

Maximum FAR 3.75:1

Maximum Height

Feet 67 ft.

Projects located in a zone where the maximum height is 45 ft. or less, or

located within a Specific Plan that limits height, height increases over 11

ft. must be stepped-back at least 15 ft. from the exterior face of the

ground floor building located at any street frontage.


Brick+Work


Stories 5

Minimum Setbacks

Front 0 ft.

6 ft. for residential uses on ground floor

Side 0 ft.

5 ft. required side setback if residential uses at lowest story

Back 0 ft.

5 ft. required if residential uses at lowest story (15 ft. rear setback

required if abutting RD or more restrictive zone)

Max Buildable Area, Footprint 11,014 sq. ft.

Max Buildable Area, Envelope 41,303 sq. ft.

Max Dwelling Units 51

Affordable Units Required at least 10% for Extremely Low Income, or 14% for Very Low

Income, or 23% for Low Income

Parking Required No minimum parking required

Required Bicycle Parking

Long Term 1 per 1.5 dwelling units or guest rooms

Short Term 1 per 15 dwelling units or guest rooms

Transitional Height Limitations When bordering specific plan, overlay zone, or RW1 or more

restrictive zone, the building height limit shall be stepped-

back at a 45 degree angle as measured from a horizontal

plane originating 25 ft. above grade at the property line of

the adjoining lot.

Required Open Space Up to 25% decrease in required open space

Other Development Notes Tier 3 TOC Incentives utilized for 100% affordable

development

Jurisdictional

Legal Description Lot FR A & FR 3, Block 13, Vermont Square Tract

Land Use Neighborhood Commercial

Area Planning Commission South Los Angeles

Community Plan Area South Los Angeles

Neighborhood Council Voices

Council District 9

Councilmember Curren D. Price, Jr.


Brick+Work


Restrictions

Rent Stabilization Ordinance No

Community Design Overlay No

Historic Preservation Overlay No

Specific Plan Yes

Q/T Conditions No

D Limitations No

Coastal Zone No

Community Redevelopment Agency No

Hillside Area No

Baseline Mansionization Ordinance No

Interim Control Ordinance No

River Improvement Overlay No

Community Plan Implementation Overlay Yes

Opportunity Zone No

Other

Red Flags

Property is subject to the requirements of the South LA Alcohol Specific Plan, which could limit the development potential of the site.

Property is subject to the requirements of the South Los Angeles CPIO, which could limit the development potential of the site.

Property Report Disclaimer

All data are obtained from government sources. No attempt has been made to verify the data’s accuracy.

By publishing this property, you represent and warrant that you have obtained the authorization from the property owner to market this

property AND to take actions on behalf of the property owner.

This report is for informational purposes only. Do not rely on this report to support real estate or investment decisions. The only authoritative

source for the information in this report is the government agencies from which the data was obtained.



LOCATION OVERVIEW

Los Angeles, the second largest city in the United States, is located

in southern California and is situated in the county of Los Angeles.

This city is known for its sunny climate, sprawling city life, and considered

to be the center of the entertainment capital of the world.

The city of Los Angeles leads its counterparts in several major growth

industries. LA county has more than 87,000 jobs in the fashion

industry surpassing New York city. In addition, Los Angeles houses

700,000 jobs in health services/biomedical field and 190,000 jobs in

the aero-space and technology field.

CITY OF LOS ANGELES

Location Highlights

• In 2015, leisure and hospitality is the leading industry with 488,100

jobs in Los Angeles. In the same year, this sector added 21,500

jobs which represents 4.6% job growth year after year.

• The largest number of manufacturing jobs of any county in the

country.

• Other major industries include health care, education, and

business services.

• L.A.’s coastal regions boast some of the best surf spots, amazing

oceanfront dining and trendy shops.

• Los Angeles has more museums and theatres than any other

city in the United States. Los Angeles has 105 museums and

225 theatres making it the mecca of arts and culture.

• With its rich cultural diversity, Los Angeles has the most

dynamic dining experiences a city has to offer. Each region

of Los Angeles offers a variety of dining options without ever

leaving the general area.

Source: www.discoverlosangeles.com

MVP Commercial 13

LOCATION OVERVIEW

GEOGRAPHYThe city of Los Angeles, surrounded by the San Gabriel Mountain

range and divided by the Santa Monica Mountains, is primarily a

desert basin. This city has 75 miles of coastline and altitudes ranging

from 9 feet below sea level at Wilmington to 10,080 feet above sea

level at Mt. San Antonio. Los Angeles rivers include Rio Hondo,

San Gabriel, Santa Clara and Los Angeles rivers.

City of Los Angeles: 472 square miles

County of Los Angeles: 4,084 square miles

Los Angeles Five-County Area: 34,135 square miles

Source: LACity.org, LACounty.org, California State Association of Counties counties.org


SUBMARKET

New community plans to guide development in South and Southeast Los Angeles were unanimously adopted by the Los Angeles City Council last week, paving the way years of future growth in the area.

The two plans, which were considered simultaneously by the council, affect a broad swath of the city covering more than a dozen neighborhoods, including Historic South-Central, Vermont Square, Florence, and Watts.

The plans include a focus on transit-oriented development and revitalization of commercial corridors, while clearly separating housing and industrial sites to prevent future public health hazards.

https://la.curbed.com/2017/11/27/16705586/south-la-community-plan-update

South Los Angeles

MVP Commercial 15

DOWNTOWN LOS ANGELES

THE GREATER LOS ANGELES AREA

Downtown Los Angeles, a large city with an abundance of historic architecture and cultural attractions, offers incredible restaurants, hotels with amazing views and a thriving nightlife. In the South Park District of Downtown Los Angeles is L.A. Live, an entertainment complex, that host popular attractions like the GRAMMY Museum, Lucky Strick Lanes and Regal Cinemas. In addition, STAPLES Center, adjacent to the L.A. Live, is home to the Los Angeles Lakers, Clippers, Kings and Sparks.

Known for its glitz and glam, Hollywood is home to film, television and music industries. Although most studios have moved to neighboring cities, Hollywood still attracts millions of visitors each year. Hollywood and Highland Center, in the heart of Hollywood, is one of the hottest entertainment centers in Los Angeles. Hollywood is ethnically diverse, heavily populated and offers delicious multicultural cuisines.

Renowned for its sunny skies and beaches, Santa Monica attracts more than 7 million visitors a year. This one of a kind city averages more than 300 days of sunshine a year and has some of the best sunsets on the west coast. Santa Monica has become a walkable and bike-friendly town allowing easy access to shopping, restaurants and attractions such as the Santa Monica Pier and Third Street Promenade.

HOLLYWOOD SANTA MONICA


DEMOGRAPHICS

City of Los Angeles: 4.0 Million

County of Los Angeles: 10.1 Million

Los Angeles Five-County Area: 18.6 Million

POPULATION (2015)

Source: California Department of Finance, Demographic Research Visit

Hispanic or Latino (of any race) 47.9%

Non-Hispanic Whites: 27.5%

Asian/Pacific Islander: 13.7%

African-American: 8.1%

American Indian/Others: 2.8%

Source: U.S. Census Bureau - 2013 American Community Survey

ETHNICITY

Median household income: $48,610

Mean household income $76,557

Median family income: $53,008

Mean family income: $83,965

Median non-family income: $38,227

Mean non-family income: $61,155

Source: 2006-2008 American Community Survey

INCOME

“The diverse, multiethnic population of Los Angeles today

distinguishes the city as the cultural hub of the Pacific Rim.

People from more than 180 countries, speaking 140 different

identified languages, currently call Los Angeles home. Los

Angeles does not have a majority population.”

- www.discoverlosangeles.com

MVP Commercial 17

MAJOR EMPLOYERS

County of Los Angeles 96,500

Los Angeles Unified School District 59,600

City of Los Angeles (including DWP) 46,900

University of California, Los Angeles 46,900

Federal Government (non-Defense Dept.) 43,400

Kaiser Permanente 36,000

State of California (non-education) 29,200

Northrop Grumman Corp. 17,000

Target Corp. 15,000

Providence Health & Services 15,000

Source: California Employment Development Department, The Los Angeles Business Journal, and Almanac research

TOP 10 EMPLOYERS IN LOS ANGELES


RETAIL CENTERS IN THE GREATER LOS ANGELES AREA

RODEO DRIVE

Rodeo Drive is in the center of the Golden Triangle. Some of the most luxurious hotels, shopping and dining in the world occupy this distinguished corridor. The most prestigious and recogniz-able brands in fashion such as Valentino, Saint Laurent, Tiffany & Co., Cartier, Rolex, Chanel and Salvatore Ferragamo are situat-ed on Rodeo Drive.

THE GROVE

The Grove, an entertainment

complex in Los Angeles, features

brand name stores, chain and local

restaurants, a large center park with

an animated fountain and Pacific

Theatres. Visitors can take a free

ride to The Grove Trolley which

travels along First Street between

The Grove and Famer’s Market.

MELROSE AVE

Melrose Avenue is famous for its

underground and new wave retail

stores which became popular in

the 1980’s . This dest inat ion

attracts visitors from all over the

world for its unique shopping

experience, spectacular dining,

and entertainment.

BEVERLY CENTER

Beverly Center, eight-story shopping

mall located at the edge of Beverly

Hills and West Hollywood, provides

a shopping experience unlike its

counterparts in the local area. With

over 100 specialty retail stores,

shoppers are able to get everything

they need in one location. Recently,

the owners have unveiled their plans

to spend $500 million to renovate

the Beverly Center.

MVP Commercial 19

Los Angeles County is home to 113 accredited colleges and universities, including such prestigious institutions as the University of Southern California (USC), UCLA, Pepperdine University, Occidental College, Loyola Marymount University and the Art Center College of Design.

Source: LAEDC

COLLEGES & UNIVERSITIES

University of Southern California

Pepperdine University

University of California, Los Angeles

Art Center College of Design


HEALTH CARE CENTERS

According to U.S. News, UCLA Medical Center, Cedars-Sinai Medical Center, Kesk Medical Center of USC and Kaiser Permante Los Angeles Medical Center are ranked in the top 20 hospitals in California.

UCLA Medical Center

Keck Medical Center of USC

Cedars-Sinai Medical Center

Kaiser Permanente LA Medical

MVP Commercial 21

PARKS AND RECREATION

Spanning an impressive 4,210 acres, it’s easy to get lost in LA’s largest public green space, much of which remains unchanged from the days when Native Americans settled here.

Griffith Observatory

Kenneth Hahn is impressive in both size and topography for a park in the middle of the Westside.

Kenneth Hahn State Recreation Area

Explore the La Brea Tar Pits, which for over 100 years has unearthed prehistoric fossils, and enjoy the Urban Light sculptures from LACMA which is within a stone’s throw.

Hancock Park La Brea

Unlike the touristy turnout just up the road, this park stays quiet throughout the day. The whole family can enjoy the playground, shaded picnic benches and one of the most fantastic views of the Hollywood Sign.

Lake Hollywood Park

MVP Commercial 23

This Confidential Memorandum has been prepared by MVP Commercial Investment Real Estate (“MVP”) and is being furnished to you solely for the purpose of your review of the commercial property located at 4712 & 4716 S Normandie Avenue. Los Angeles, CA 90037. The material contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of MVP Commercial Investment Real Estate and KW Commercial (“Broker”).

By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to MVP as soon as practicable together with all other materials relating to the Property which you may have received from MVP; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of MVP.

This Confidential Memorandum has been prepared by MVP, based upon certain information pertaining to the Property and any information obtained from MVP to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by MVP to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon MVP, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither MVP or KW Commercial, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred.

MVP, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice.

This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memorandum, you agree to release MVP and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. MVP reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time.

CONFIDENTIAL DISCLAIMER

www.mvpcre.com

In Association with KW Commercial

Derrick VartanianExecutive Managing Director, Partner310.301.2353 | [email protected]: #01816119

Jonathan PrakashExecutive Managing Director, Partner310.301.2351 | [email protected]: #01483131

CalDRE 02004120

offering price: $1,79 · 2020. 7. 21. · 2.ursuant to lamc section 12.22 a.25(g)(3), the applicant...

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