INVESTMENT HIGHLIGHTS

Transcription

1 6821 VICTORIA AVE

2 EXECUTIVE SUMMARY We are pleased to offer for sale a freestanding industrial property located at S. Victoria avenue in Los Angeles. It was built in 1946 as an electrical components factory by entrepreneur Jack Stern. The property is comprised of an existing 8000 sq ft industrial building built in 1946 over a sqft level lot zoned MR1 and provides the opportunity to build up to 10000sqft of additional industrial building based on the current restrictions. This redevelopment opportunity is located in South Los Angeles within close proximity to the the new Hollywood park development. The redevelopment is planned to add the new 80,000 seats RAM stadium, a mixed use development that will bring 3,000 units of housing, 620,000 square feet of retail space, a luxury hotel, and a revamped Hollywood Park Casino over a 238 acres property. The City is also investing in the area through several public works projects, such as the Florence avenue repavement and landscaping, and the redondo blvd pedestrian walk with parking. These public projects will provide momentum for streetscape improvements and district development. The site is conveniently located adjacent to Inglewood between the 405 and 110 highways, both accessible within a 8 minutes drive. Inglewood Santa monica and Downtown Los angeles are both accessible within 30 minutes from the premise. The site is located one block from the Florence ave and Crenshaw blvd cross street which carries a significant traffic volume. LAX is accessible in 12 minutes. The project site is within a short walking distance of subway stations and regional mass transit. Only 1000 feet from the future Fairview Height metro station due to open in 2019 (Crenshaw/ LAX line). Two bus stations are within one block from the property on crenshaw blvd and Florence avenue. The site offers frontage with ingress and egress on victoria avenue. The Los angeles county permanent parcel number is

3 INVESTMENT HIGHLIGHTS RARE OWNER-USER / INVESTMENT / REDEVELOPMENT OPPORTUNITY IN HYDE PARK Delivered fully renovated. Possibility to build to suit Potential for rezoning / variance for a multifamily and work / live redevelopment Plans and approvals for a 8000 to 10000sqft metal / concrete addition. 24 ft clear ceiling height Utilities are already in Eligible for marijuana cultivation and manufacturing according to the new los angeles commercial cannabis location restriction ordinance Excellent ingress/egress. Multiple activities possible from manufacturing, warehousing, creative offices, studios,... Possibility to purchase adjacent lot at 6825 S Victoria, and add 6600sqft with a second street access New underground heavy power 240/120V with 4 tenant meters (2 for the new buiding) STRATEGIC LOCATION located in the rapidly gentrifying Hyde park neighborhood, adjacent to Inglewood 1000 feet from the future Fairview height metro station due to open in 2019 Adjacent to the upcoming multibillion dollars Hollywood park redevelopment project, including the Los angeles Rams stadium Enterprise zone 10 min from LAX, the 405 and fast access to DTLA Adjacent to Florence / Crenshaw cross street 20 minutes from Venice Priced at EXCELLENT MARKET FUNDAMENTALS: SOUTH LOS ANGELES INDUSTRIAL MARKET Significant Rent Growth: 6,8% year on year Very low vacancy: 1% Strong appreciation INVESTMENT SUMMARY Offering price $2,250,000 Zoning MR1 light manufacturing Total Land Area 0.52 acre Total Building Area 8000 to 8973 sqft Property class B APN

4 LOS ANGELES STADIUM AT HOLLYWOOD PARK DOWNTOWN INGLEWOOD FAIRVIEW HEIGHTS METRO STATION 7ELEVEN ARCO FLORENCE AVENUE VICTORIA AVENUE 6821 Victoria ave M LCI ARCHITECTURAL WOODWORK DELTA FLORAL DISTRIBUTORS McDONALD s OBILE

5 PROPERTY HIGHLIGHTS ADDRESS: S Victoria ave, Los Angeles CA APN: GROSS BUILDING SIZE: LAND SIZE: 8000 sqft 0.52 acre YEAR BUILT: 1946 HVAC: no STORIES: Two (2) PARKING: +/- 80 Spaces (4/1,000) ROOF: CONSTRUCTION TYPE: ELEVATOR: SPRINKLERS: ZONING: Flat Masonry no no MR1 Light manufacturing UTILITIES: Water Sewer Electricity Natural Gas Local Phone LADWP City of Los Angeles LADWP N/A AT&T DAILY TRAFFIC COUNTS INTERSECTION AVERAGE DAILY TRAFFIC Florence / Crenshaw 37,589 DISTANCES AND TIME LAX 8.1 miles / 12 min DTLA 9.8 miles / 18 min miles / 7 min miles / 8 min Marina del rey 9 miles / 15 min 4

6 SITE PLAN / PARKING OVERVIEW 5

7 AERIAL VIEW NEW BUILDING FOOTPRINT ADDITIONAL LAND AVAILABLE TO PURCHASE 6

8 AERIAL VIEW / NEARBY DEVELOPMENTS NEW CRENSHAW LAX LINE OPEN 2019 PROPOSED DEVELOPMENT SITE HOLLYWOOD PARK PROJECT 7

9 AVIATION LA CIENEGA INGLEWOOD LA BREA MAR K E T PR AIR IE LA BREA WESTERN NOR MANDIE VERMONT HOOVE R HIGHLAND LA BREA WE ST B R OADWAY AREA DEVELOPMENT CRENSHAW-LAX TRANSIT PROJECT The Metro Crenshaw/LAX Line will extend from the existing Metro Exposition Line at Crenshaw and Exposition Boulevards. The Line will travel 8.5 miles to the Metro Green Line and will serve the cities of Los Angeles, Inglewood and El Segundo, and portions of unincorporated Los Angeles County. The new Metro Rail extension will offer an alternative transportation option to congested roadways and provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. Riders will be able to make easy connections within the entire Metro Rail system, municipal bus lines and other regional transportation services. The Crenshaw/LAX Transit Project will serve the Crenshaw District, Inglewood, Westchester and surrounding area with eight stations at: 1. Expo/Crenshaw 2. Martin Luther King Jr. 3. Leimert Park 4. Hyde Park 5. Fairview Heights 6. Downtown Inglewood 7. Westchester/Veterans 8. Aviation/Century In addition to the alternative transportation option to congested roadways, the project will also provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. The Crenshaw/LAX Project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by Los Angeles County voters in BARRINGTON WASHINGTON BL 1 SUNSET WESTCHESTER PKWY SANTA MONICA BL CENTURY CITY PALMS PALMS BL JEFFERSON Existing Metro Rail & Station Metro Silver Line & Station Purple Line Extension (under construction) Purple Line Extension (approved alignment) WILSHIRE Exposition Transit Corridor Phase 2 (under construction) Harbor Subdivision Crenshaw/LAX Transit Corridor (under construction) Light Rail (LRT) Alignment & Station At-Grade LRT Below Grade LRT Aerial LRT Maintenance Yard Site Parking 405 CULVER INGLEWOOD MARINA FWY MANCHESTER 90 SEPULVEDA BEVERLY DR CHEVIOT HILLS Subject to Change LA CMTA WESTCHESTER OVERLAND SAWTELLE PICO ROBERTSON CULVER CITY 1 SE PULVE DA SEPULVEDA OLYMPIC AIRPORT CADILLAC BURTON BEVERLY HILLS Culver City LAX LA CIENEGA CENTINELA LA TIJERA LA CIENEGA SLAUSON HILLCREST FAIRFAX La Cienega/ Jefferson LADERA HEIGHTS 405 ARBOR VITAE FLORENCE VENICE WASHINGTON STOCKER FAIRVIEW BEACH FAIR FAX Westcheste r/ Veterans Aviation/ Century WEST HOLLYWOOD LA BREA LA B R E A PARK LA BREA OVERHILL HAUSER SAN VICENTE REDONDO BUCKLER OLYMPIC ADAMS MARTIN LUTHER KING JR BL STOCKER ANGELES VISTA SLAUSON 60TH FAIRVIEW HYDE PARK WEST MANCHESTER 90TH CENTURY 108TH RIMPAU LOS ANGELES Expo/ La Brea INGLEWOOD LENNOX Farmdale BALDWIN HILLS Downtown Inglewood Hawthorne/Lennox MID-CITY HANCOCK PARK Hyde Park B L CR E NSHAW ROSSMORE Expo/ Crenshaw EXPOSITION MELROSE 3RD WILSHIRE PICO WASHINGTON SANTA MONICA FWY 8TH BEVERLY 6TH CRENSHAW LEIMERT 48TH 54TH VENICE Martin Luther King Jr Fairview Heights MORNINGSIDE PARK WEST ADAMS LEIMERT PARK Leimert Park VERNON AR LINGTON HYDE PARK SOUTHWEST FLORENCE NE SS VAN ARBOR VITAE WILTON Wilshire/ Western 8TH JEFFERSON MARTIN LUTHER KING JR BL 60TH GAGE WILSHIRE CENTER WE STE R N 10 Expo/Western 60TH NOR MANDIE 101 Vermont/ Beverly Wilshire/ Normandie KOREATOWN Wilshire/ Vermont Expo/ Vermont VERMONT HOOVE R FIGUE R OA TEMPLE BEVERLY BL 3RD 8TH 23RD SILVER LAKE BL 110 RAMPART 6TH Westlake/ MacArthur Park 23rd St J efferson/ Expo USC Par k / USC Slauson Manchester 37th St/ USC B R OADWAY MAIN MAIN 8 MAIN IMPERIAL MARIPOSA GRAND EL SEGUNDO NASH Mariposa El Segundo EL SEGUNDO Aviation/LAX INGLEWOOD R AMONA HAWTHOR NE PR AIR IE IMPERIAL HWY HAWTHORNE YUKON 135TH Crenshaw EL SEGUNDO 120TH VAN NE SS 105 ATHENS WESTERN NOR MANDIE Vermon t/athens Harbor Fwy 110 FIGUE R OA MAIN

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