S. FAIRFAX AVENUE LOS ANGELES, CALIFORNIA RTI CONSTRUCTION PROJECT OFFERING MEMORANDUM

Transcription

1 S. FAIRFAX AVENUE LOS ANGELES, CALIFORNIA RTI CONSTRUCTION PROJECT OFFERING MEMORANDUM

2 S. FAIRFAX AVENUE LOS ANGELES, CALIFORNIA Exclusively Listed by DARIO SVIDLER calbre# Partners Trust Real Estate Brokerage & Acquisitions does not guarantee the accuracy of estimates, square footages, lot size, government approvals, construction concepts, construction plans, construction progress, inspections, investigations, reports or other information concerning the condition or features of the property or project provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with appropriately licensed professionals and city officials. All pro-formas, projections, assumptions, concepts, construction plans, studies, estimates, etc. are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property to rely on their own pro-formas, projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are just for illustrative purposes and not necessarily meant to be an actual depiction of what can be built Svidler CalBRE#

3 TABLE OF CONTENTS ABOUT DARIO... THE OFFERING... PROPERTY OVERVIEW... RENT ROLL... POINTS OF INTEREST... AREA/MARKET OVERVIEW... FLOOR PLANS... ELEVATIONS 1545 S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 3

4 Dario Svidler Executive Vice President, Commercial Division calbre# I grew up with Real Estate all around me. My father, a Structural Engineer and practicing General Contractor, and my mother, an Architect, have been bringing me to their job sites since I was born. I have experienced all facets of the Construction and Real Estate Businesses, ranging from Commercial and Industrial to all types of Residential. As a Real Estate Salesperson, I have sold in excess of $200 million in Real Estate and am well on my way to doubling that number. My talent in finding Value-Add Properties have made me an indispensable asset to a select group of Clients and Investors looking to add higher-yielding properties to their portfolio. I am a member of the Real Estate and Construction Division of the Jewish Federation and an alumnus of the American Jewish University S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 4

5 A COMMITMENT TO YOU WHAT WE ARE. First, and foremost, Partners Trust is a Los Angeles-based real estate brokerage that leverages our global network, media savvy and command of the market to provide our clients with a discreet and peerless level of real estate services. We are a select group of the finest, principled and reputable agents in the market. We are distinguished in the marketplace by our emphatic sales volume, and reputed for our integrity, market intelligence and a genuine connection to our communities. We are proud of these accomplishments. We work diligently everyday to maintain them. This is what we are. WHO WE ARE. What a company is should be driven by who they are at the core and what they believe in that drives them to do what they do. In this regard, Partners Trust is a group of professionals that believe in the sanctity of real estate ownership and the inalienable right everyone has to own real estate. To support our beliefs, we create optimum conditions required to provide the deepest level of regard, respect, care, empathy, commitment and services possible to buyers, sellers, our associates and our competitors. We are people who care about the lives, the careers, the families, the financial securities and the peace of mind for everyone we touch S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 5

6 THE OFFERING RTI CONSTRUCTION PROJECT We are pleased to present for sale an RTI, 10-unit Apartment Development. The project consists of seven 3 bed, 2 bath units, two 3 bed, 3 bath townhomes and one 2 bedroom, 2 bath unit. One of the 3 bedroom units is reserved for very low-income tenants. Located south of Pico Boulevard on Fairfax Avenue, the location is perfectly situated near jobs, restaurants, nightlife and public transit. This project will be delivered fully entitled with permits ready to be pulled by the new owner S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 6 Partners Trust Real Estate Brokerage & Acquisitions does not guarantee the accuracy of estimates, square footages, lot size, government approvals, construction concepts, construction plans, construction progress, inspections, investigations, reports or other information concerning the condition or features of the property or project provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with appropriately licensed professionals and city officials. All pro-formas, projections, assumptions, concepts, construction plans, studies, estimates, etc. are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property to rely on their own pro-formas, projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are just for illustrative purposes and not necessarily meant to be an actual depiction of what can be built Svidler CalBRE#

7 PROPERTY OVERVIEW 1545 S. Fairfax Avenue, Los Angeles, CA PRICE $1,900,000 PERMIT STATUS RTI TOTAL UNITS 10 UNIT MIX LOW INCOME UNITS 1 LIVABLE SQ. FT. 10,599 LOT SQ. FT. 6,883 LOT DIMENSIONS 55x125 APN PROPERTY HIGHLIGHTS No Rent Control 4 Story Building 5,700 SF Subterranean Garage 17 Parking Spaces 14 Bicycle Spaces Homes with Private Open Space 1545 S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 7 Partners Trust Real Estate Brokerage & Acquisitions does not guarantee the accuracy of estimates, square footages, lot size, government approvals, construction concepts, construction plans, construction progress, inspections, investigations, reports or other information concerning the condition or features of the property or project provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with appropriately licensed professionals and city officials. All pro-formas, projections, assumptions, concepts, construction plans, studies, estimates, etc. are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property to rely on their own pro-formas, projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are just for illustrative purposes and not necessarily meant to be an actual depiction of what can be built Svidler CalBRE#

8 PROJECTED RENT ROLL 1545 Unit Mix Size Rent PSF Market Rent 1 Unit 101 (1st floor, front) $3.15 $2,867 2 Unit 102 (1st floor, middle TH) $3.15 $3,534 3 Unit 103 (1st floor, back) $3.15 $3,361 4 Unit 201 (2nd floor, front) $3.35 $3,548 5* Unit 203 (2nd floor, back) $1.00 $1,067 6 Unit 301 (3rd floor, front) $3.45 $3,654 7 Unit 303 (3rd floor, back) $3.45 $3,681 8 PH1 (4th floor, front) $3.55 $3,759 9 PH2 (4th floor, middle TH, reversed) $3.50 $3, PH3 (4th floor, back) $3.55 $3,788 *Very Low Income - Buyer to verify rental amounts Livable SF 10,599 $33,186 Gross $398, S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 8 Partners Trust Real Estate Brokerage & Acquisitions does not guarantee the accuracy of estimates, square footages, lot size, government approvals, construction concepts, construction plans, construction progress, inspections, investigations, reports or other information concerning the condition or features of the property or project provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with appropriately licensed professionals and city officials. All pro-formas, projections, assumptions, concepts, construction plans, studies, estimates, etc. are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property to rely on their own pro-formas, projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are just for illustrative purposes and not necessarily meant to be an actual depiction of what can be built Svidler CalBRE#

9 POINTS OF INTEREST COMM E RC I A L S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 9

10 AREA/MARKET OVERVIEW PICFAIR VILLAGE, LOS ANGELES Picfair Village takes its name from the majestic Picfair movie theatre which stood at the corner of Pico and Fairfax until the early 1980s. Initially hailed as the New Wilshire...[and] a delightful place for a home, what is now Picfair Village was part of the Santa Monica Land and Water Co. s 1922 development called Pico Boulevard Heights. Their tract office was located on the Pico street car line at Fairfax and Pico. They offered choice lots on Genesee Street starting at $1,250. What is now Picfair Village was once home to the author Walter Mosley for a while, and one of his characters lived on Stanley. The neighborhood has been active since 1998 when it was first named the Pico Fairfax Neighborhood Association. At one of the early meetings, the group voted to change the name to the Picfair Village Community Association. Very Central to LAX, Silicon Beach, Major Freeways and all of Los Angeles S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 10

11 FLOOR PLANS S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 11

12 ELEVATION S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 12

13 ELEVATION S. FAIRFAX AVENUE PRESENTED BY DARIO SVIDLER 13

14 For further information contact: DARIO SVIDLER calbre# PARTNERS TRUST 9378 Wilshire Boulevard, Suite 200 Beverly Hills, CA PARTNERSTRUST.COM Partners Trust Real Estate Brokerage & Acquisitions does not guarantee the accuracy of estimates, square footages, lot size, government approvals, construction concepts, construction plans, construction progress, inspections, investigations, reports or other information concerning the condition or features of the property or project provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with appropriately licensed professionals and city officials. All pro-formas, projections, assumptions, concepts, construction plans, studies, estimates, etc. are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property to rely on their own pro-formas, projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are just for illustrative purposes and not necessarily meant to be an actual depiction of what can be built Svidler CalBRE#