Potential 18 SLO Development Site Strohm Ave. North Hollywood, CA 91601
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- Juliet Blair
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1 A quadruple lot assemblage of unrestricted RD1.5 zoned property consisting of 28,254 SF gross land area. Site abuts two 20 alleys. Located in the City of Los Angeles [North Hollywood] a stone s throw from the City of Burbank. Non rent-controlled property; existing SFR on each lot. All detached SFR sales within a 1-mile radius of site COE since 6/2014 average $673,000+ sales price and an average YBLT of 1944 [$417/FT]. No submitted plans or TTM. $2,750,000 Evanisko Realty & Investment, Inc. BRE
2 Gross Land Area: 28,254 SF Existing Improvements: Four SFR Zoning: RD1.5-1 FAR: 3:1 Topography: Flat Site Dimensions: Approx 200 X 125 Council District: CD 2 Paul Krekorian Price: $2,750,000 Evanisko Realty & Investment, Inc. BRE
3 This brochure has been prepared to provide summary, unverified information to interested parties, and to establish only a preliminary level of interest in the subject development opportunity. The information contained in this brochure has been obtained from sources we believe to be reliable. However, Evanisko Realty & Investment, Inc. has not verified, and will not verify, any of the information contained herein, nor has Evanisko Realty & Investment, Inc. conducted any investigation regarding theses matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All interested parties must take appropriate measures to verify all of the information set forth herein. All offers and correspondence regarding this opportunity are to be directed to: Frank Evanisko (818) frank@evaniskorealty.com
4 Quadruple Lot Assemblage
5 5 LOT # Strohm Ave. APN: Lot Size: 6,266 SF SFR: 806 SF [2+1] YBLT: 1948 Lease Rate: $1,700 LOT # Strohm Ave. APN: Lot Size: 6,250 SF SFR: 1,074 SF [3+1] YBLT: 1949 Lease Rate: $2,300 Seller 1 $2,050,000 LOT # Strohm Ave. APN: Lot Size: 6,250 SF SFR: 1,298 SF [2+1] YBLT: 1947 Lease Rate: $1,900 LOT # Strohm Ave. APN: Lot Size: 6,238 SF SFR: 923 SF [2+1] YBLT: 1947 Lease Rate: Owner Oc. Seller 2 $700,000 Existing Improvements
6 6 Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by ownership to handle the marketing and disposition of this rare quadruple lot assemblage of RD1.5 zoned property located in North Hollywood just steps from the City of Burbank. The site consists of four adjacent RD1.5 lots totaling 28,254 sq. ft. of land inclusive of ½ of the two abutting [20 ] alleys. The site lends itself to a multitude of potential multifamily development scenarios including the potential to develop up to 18 detached single family homes under the Los Angeles Small Lot Ordinance. Gross Land Area: 28,254 SF Existing Improvements: Four SFR Zoning: RD1.5-1 FAR: 3:1 Topography: Flat Site Dimensions: Approx 200 X 125 Council District: CD 2 Paul Krekorian Price: $2,750,000 Property Summary
7 7 Parcel Map
8 8 MBK Homes ½ Mile North 27 Small Lot Homes ON MKT Subject Site City of Burbank NoHo Metro Station NoHo 14 Meta Senior Artist Chandler Partners 156 Unit Apartment Under Construction The Hesby New 308 Unit Apartment 15 Unit Site Sold 4/1/2014 Peach Grove 10 Attached Townhome Condo Nearing Completion North Hollywood Activity
9 9 New Construction 10 Attached Townhome Condominiums W. Peach Grove St. Unit Size: Approx 1,790 SF Pricing: $700K s each Subject Site City of Burbank Approx 1 Mile South North Hollywood Activity Condo Development
10 10 Entitled 15-Unit Condo Development Site Camarillo St. 14,700 SF Lot R3/C2 Land Sale: 4/1/2014 Approximate Land Sales Price: $2,000,000 Subject Site City of Burbank Approx 1.25 Miles Southwest North Hollywood Activity Land Comp 1
11 11 Entitled 16-Unit SLO Development Site Ben Ave. Valley Village, CA ,2440 SF Lot Zoned RD1.5 Land Sale: 4/1/2014 Approximate Land Sales Price: $4,000,000 Subject Site City of Burbank Exactly 2 Miles Southwest North Hollywood Activity Land Comp 2
12 12 The Hesby 5031 Hesby St. 308 Apartments Completed $2,100-$2,750/Mo. 2+2 $2,665-$3,100/Mo. Subject Site City of Burbank Approx 1.25 Miles Southwest North Hollywood Activity No Ho Rental Rate New Const.
13 13 North Hollywood Metro Station Red Line Orange Line Approx.85 Miles West Subject Site City of Burbank North Hollywood Activity Public Transportation
14 14 Vineland Metro MBK Homes 27 SLO For Sale Approx 1.3 Miles Northwest 6550 N. Vineland Ave. North Hollywood, CA Unit Size: Approx 1,629 SF Unit Sales: $438K-$460K Subject Site City of Burbank North Hollywood Activity SLO Sales
15 15 List Price ADOM Sale Price BR BA YBLT SF Min $389,500 6 $425, ,400 Max $1,790, $2,150, ,000 AVG $666, $673, ,612 ** Data Source: SRAR ** Closed sales average $417/FT. 1-Mile Radius - Closed SFR Sales 1,400-2,000 SF Since 6/1/2014
16 16 For construction financing contact: Miles McClain Production Officer Southern California Home Builder Lending Office Mobile Financing Contact
17 17 Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by ownership to handle the marketing and disposition of this potential development site. Price: $2,750,000 SUBMIT ALL INQUIRIES TO: ALL PROPOSALS WILL BE REVIEWED BY LANDOWNER AND BROKER AS RECEIVED. For additional information/guidance on this and other development opportunities contact: Evanisko Realty & Investment, Inc. (818) Evanisko Realty & Investment, Inc. BRE: Transactional Information
18 18 No Ho Core Apartment Land Activity Burbank Blvd. Burkill LLC 36,847 SF Land Entitled 125 Units [14 Low Income] Chandler Blvd. Prudential Financial 25,498 SF Land ON MKT [In Contract] 5508 Klump Ave. NoHo Mission Apartments LLC 36,270 SF Land R4 CRA Sold 11/21/13 Entitled 84 Unit Site 5401 Lankershim Blvd. Prudential Financial 36,155 SF Land C4 CRA ON MKT [In Contract] +/- $5.5M Albers St. Private Owner 18,024 SF R4 CRA Triple Lot Assemblage 5518 Bonner St. Bonner LLC 14,510 SF Land R4 CRA Sold 11/7/13 Under Const. Circa $1,650, Case Ave. Aria Venture Capital LLC Zoning: R4 CRA Sold 7/31/14-90 Units Proposed Otsego St NoHo LLC 29,681 SF Land R4 CRA SOLD 8/15/14 Circa $4,000, Cumpston St Cumpston LLC 11,857 SF Land R4 CRA 25 Units 2+2 $2, $1,895 Almost Complete No Ho Station Chandler Blvd. Babak Akhavan 25,347 SF R4 /C2 SOLD 8/12/13 Price?? Prudential Financial 7 Total Acres C4 CRA +/- 800 Potential Units Evanisko Realty & Investment, Inc. BRE
19 10
Triple RD1.5 Lot Assemblage Strohm Ave. North Hollywood, CA 91601
Proposed Escrow Timeline Contract Date Day 1 Contingency Removal Day 30 Escrow Close Day 60 Potential to build 18 units utilizing SB1818; all parking within at-grade podium garage Proposed scenario above
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