NORMANDIE AVE SUBJECT PROPERTY. R3 Development Opportunity. Lisiting Price: $1,300,000

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1 R3 Development Opportunity 632 N Normandie Ave Los Angeles, CA Downtown Los Angeles Flat 6,903/SF R3-1 lot with non rent control units [property to be delivered vacant] Potential to develop up to 15 units using Transit Oriented Communities Incentive Program (TOC Tier 2) Centrally located within minutes to Hollywood, Koreatown, Silverlake and Downtown Los Angeles New construction surrounding the site with rental projection of $3.00 PSF rents Lisiting Price: $1,300,000 P F

2 Disclaimer Notice The information contained herein has been prepared as a preliminary set of information. No representation is made as to the legal validity or accuracy expressed or implied in this brochure. The information has been obtained by sources we believe to be true and this information is submitted subject to errors, omissions, changes or withdrawals without notice. All parties receiving this information must not rely on the accuracy of this information and must take appropriate independent measures to confirm the accuracy of the information contained herein during a due diligence review of records, files and documents that constitute reliable sources of information S Figueroa St Los Angeles, CA P F

3 Map-pin Hollywood 1.5 mi. Map-pin Silver Lake 2.3 mi. Map-pin Dodgers Stadium 5 mi. (cont.) Map-pin Koreatown 1.5 mi. Downtown Los Angeles 5 mi. We are proud to present 632 N. Normandie Avenue located in one of the most eclectic neighborhoods in the City of Los Angeles. The lot is centrally located within two (2) miles from the world famous Hollywood, CA and five (5) miles from the booming Downtown Los Angeles. This is the perfect location for commuters and young professionals to live, work and play. The lot is zoned R3-1 allowing for a by-right 8 unit project. Bonus densities can be obtained using the Transit Oriented Communities (TOC) incentive program. The property will be delivered vacant. ADDRESS 632 N Normandie Ave Los Angeles, CA APN TOTAL SF 1,627 LOT SF 6,903 ZONING R3-1 GENERAL PLAN Medium Residential DIMENSION 46 x 150 (see ) OWNER OCCUPIED Not subject to RSO TOPOGRAPHY Flat TRANSIT ORIENTED CENTER (TOC) Tier 2 COUNCIL DISTRICT 13th Mitch O Farrell PRICE $1,300,000 Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 3

4 (cont.) Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 4

5 (cont.) The subject property is located within the Transit Oriented Communities (TOC) incentive program area. The parcel has been designated with a Tier 2 designation allowing for up to 60% in density bonus. 15 Delevolpment Unit Count Market Rate Low Income 15 2 The by-right developable unit count is eight (8). Utilizing the TOC Tier-2 density bonus incentives a total of 15 units are allowed with nine-percent (9%) set aside units for extremely low income. Depending on your unit mix and parking levels (at-grade or subterranean) your final project may be influenced by such factors. There are additional TOC incentives such as FAR, Height and Parking incentives that may be allowed and should be considered when underwriting this development site For more information contact a Vinco Vinco Realty Group agent. Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 5 0 By Right TOC Tier 2

6 (cont.) (cont.) 10 ft. building line & 6 ft. street dedication The Bureau of Engineering would possibly require an additional 6 ft. street dedication* *The required dedication is included within the 10 ft. building line. Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 6

7 (cont.) 46 x 150 Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 7

8 HOLLYWOOD (cont.) OAKWOOD AVE 546 N OXFORD AVE 535 N. OXFORD AVE 457 N. SERRANO AVE 536 WESTMORELAND AVE UNIT TYPE: APT. UNIT TYPE: APT. UNIT TYPE: APT. UNIT TYPE: QUAD UNIT TYPE: APT. YBLT: 2016 YBLT: 2016 YBLT: 2015 YBLT: 2014 YBLT: 2015 BED/BATH: 1/1 BED/BATH: 1/1 BED/BATH: 1/1.5 BED/BATH: 1/1 BED/BATH: 0/1 SIZE: 680/SF SIZE: 800/SF SIZE: N/A SIZE: 617/SF SIZE: 460/SF RENT: $2,195 RENT: $2,000 RENT: $2,050 RENT: $1,825 RENT: $1,650 PSF: $3.22 PSF: $2.50 PSF: N/A PSF: $2.95 PSF: $3.58 Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 8

9 (cont.) HOLLYWOOD ROSEWOOD AVE 5026 ROSEWOOD AVE N. ALEXANDRIA AVE 5017 MARATHON ST 457 N. SERRANO AVE UNIT TYPE: CONDO UNIT TYPE: APT. UNIT TYPE: APT. (LOFT STYLE) UNIT TYPE: QUAD UNIT TYPE: QUAD YBLT: 2008 YBLT: 2017 YBLT: ENTITLED/FUTURE CON. YBLT: 2014 YBLT: 2014 BED/BATH: 2/2 BED/BATH: 2 / 2 BED/BATH: 2/1 BED/BATH: 4/3 BED/BATH: 4/3 SIZE: N/A SIZE: 1,300/SF SIZE: 850/SF (APPROX.) SIZE: 1,790/SF SIZE: 1,790/SF RENT: $3,000 RENT: $2,950 RENT: $2,800 RENT: $4,600 RENT: $4,600 PSF: N/A PSF: $2.26 PSF: $3.29 PSF: $2.57 PSF: $2.57 Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 9

10 Development Activity (cont.) 12 UNIT PROJECT UNDER CONSTRUCTION ENTITLED 12-UNIT TOWNHOME PROJECT (100 FT. AWAY) NEW QUADRUPLEX BUILT 2017 DOUBLE LOT ASSEMBLAGE SOLD 2017 MARIPOSA AVE Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 10

11 (cont.) PRESENTED BY: Chris Martinez, Land Broker Vinco Vinco Realty Group P: , ext. 1 C: F: chris@vvrealtygroup.com BRE#: Our mission is to assist sellers and investors in achieving their real estate goals by using our local market knowledge, broker network and negotiating skills to obtain positive results for our clients. Vinco Vinco Realty Group has been retained exclusively by the seller(s) to represent and market this property exclusively. Please submit all proposals and inquiries to the listing agent(s) above. Vinco Vinco Realty Group R3 DEVELOPMENT OPPORTUNITY 11