Asking Price $ 16,950,000

Transcription

1 PRIME OFFICE BUILDING IN THE HEART OF KOREATOWN Holmes Center - Office Building 3251 West 6 th, Street Los Angeles CA Ryan Yatman T Ext. 302 RYatman@SecuredProperties.com BRE Jay Chu T Ext. 301 JChu@SecuredProperties.com BRE Nader Ghadoushi Mobile: Office Ext. 306 Nader@SecuredProperties.com BRE Wilshire Blvd, Suite 2510 Los Angeles, California T F Building size: 48,762 SF +/- Asking Price $ 16,950,000 All Cash or Terms Acceptable to Seller BRE

2 Offering Summary Secured Properties is pleased to offer a prime multi-tenant office building in the heart of Koreatown. The building is located on the north-west corner of 6 th, Street and New Hampshire. It situated one block north of Wilshire and one block west of Vermont. It is walking distance to the Metro hub at the corner of Wilshire and Vermont. The area is comprised of abundant multi-residential housing, retail, office, condominiums, steady growth of new developments, few hotels and more. Excellent night life due to abundant restaurants... Description of Current Improvements The offering consists of a four-story office building approximately 48,762 square feet built in The lot size is 17,543 square feet of land. Parking accesses is from both New Hampshire Ave. and Berendo Street. The property has always enjoyed a high occupancy rate due to a strong mix of local tenants that cater to the surrounding population. Four-year average occupancy rate is ~ 92.21%. Well more than half of the tenants are still below $2 per square foot rents. New owner will enjoy up to 5% increases on new leases annually. Potential Change of Use (or Occupancy) to retail on ground floor.

3 Site Addresses 3251 West 6 th, Street, Los Angeles, CA Parcel Number: Zoning: LA R4 Site Description Parcel Size Approx. 17,543 SF Building Square Footage Approx. 48,762 SF Year Built 1990 Topography Flat (Minimal Slope) Disclaimer: Square footage, measurements and Zoning Information has been obtained from ZIMAS and Public Records. Buyer will verify the accuracy of the information and rely solely on their own investigations. Neither Broker nor Agents make any representations or warranties, express or implied as to its accuracy. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is the Buyer's responsibility to independently confirm its accuracy and completeness.

4 Offering Summary Price $ 16,950,000 Year Built 1990 Approx. Lot Size 17,543 SF Approx. Rentable Square Feet 48,762 SF Cost per Rentable Square Feet $ 348 Parking spaces Zoning 90 (up to 160 spaces could be available) LA R4 Expenses / Rent-roll Please contact Nader Ghadoushi at Mobile: Office Ext. 306 Nader@SecuredProperties.com BRE

5 Location Description The offering is located in Los Angeles (submarket Mid-Wilshire Zip 90020) in the heart of Koreatown business district on 6 th Street; it s approximately 3 Miles from Santa Monica 10 Freeway and less than 4 miles from downtown Los Angeles. The property is about 1 block from Wilshire and Vermont Metro Station.

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8 Parcel B Parking Lots Parcel B parking lots 2 PARCEL MAP

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10 PARCEL B - Rent Roll DEMOGRAPHICS

11 Demographics Population Population 1 Mile 3 Mile 5 Mile 2015 Total Population: 119, ,198 1,246, Population: 124, ,473 1,285,116 Pop Growth : 3.94% 3.17% 3.14% Average Age: Households 2015 Total Households: 46, , ,847 HH Growth : 3.81% 3.11% 3.08% Median Household Inc: $33,065 $33,783 $37,549 Avg Household Size: Avg HH Vehicles: Housing Median Home Value: $491,646 $514,825 $515,308 Median Year Built: Population 1 Mile Radius 3 Mile Radius

12 Population by Hispanic Origin 1 Mile Radius 3 Mile Radius Population by Race 1 Mile Radius 3 Mile Radius

13 Businesses 1 Mile Radius 3 Mile Radius Tenure of Occupied Housing 1 Mile Radius 3 Mile Radius

14 Consumer Spending Total 1 Mile Radius 3 Mile Radius House Hold Income 1 Mile Radius 3 Mile Radius

15 Traffic Collection Street Cross Street Traffic Volume Year Distance Made with TrafficMetrix Products

16 Public Transportation Transit / Subway Drive Walk Distance Wilshire / Vermont Station (Purple Line) 2 min 5 min 0.2 mi Wilshire / Normandy Station (Purple Line) 3 min 10 min 0.5 mi

17 The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is the Buyer's responsibility to independently confirm its accuracy and completeness. Disclaimer: Square footage, measurements and Zoning Information has been obtained from ZIMAS and Public Records. Buyer will verify the accuracy of the information and rely solely on their own investigations. Neither Broker nor Agents make any representations or warranties, express or implied as to its accuracy. Ryan Yatman Jay Chu Nader Ghadoushi T Ext. 302 T Ext. 301 Mobile: RYatman@SecuredProperties.com JChu@securedproperties.com Office Ext. 306 BRE BRE Nader@SecuredProperties.com BRE Secured Properties 3435 Wilshire Blvd. Suite 2510, Los Angeles, CA Office Fax BRE