DOWNTOWN LA DEVELOPMENT LAND FOR SALE W. Sixth Street Los Angeles, CA 90057

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1 DOWNTOWN LA DEVELOPMENT LAND FOR SALE 1930 W. Sixth Street Los Angeles, CA 90057

2 OVERVIEW LAND SIZE, square feet BUILDING SIZE, square feet ZONING LAC - /R APN - - TENANT MTM, $, /month Absolute NNN PRICE Subject to offer EXECUTIVE SUMMARY, as Exclusive Agents, is pleased to present the opportunity to acquire a future development site strategically positioned in the rapidly growing Westlake/MacArthur Park neighborhood of Los Angeles. This vibrant area of Los Angeles is currently going through a significant transformation spurred on by the emerging developments in Koreatown to the west and downtown LA to the east. The development site is conveniently located on the signalized corner of West Sixth Street and Westlake Avenue, offering developers a unique third point of ingress/egress utilizing the alley.

3 LOCATION W. Sixth Street, Los Angeles, CA THREE POINTS OF INGRESS / EGRESS Over 13,000 square feet of land available for sale, currently used for automobile sales. This corner lot is located at a signalized corner of Sixth and Westlake with excellent visibility in a high traffic area, and situated in an up-and-coming neighborhood approximately one mile from the Financial District in downtown LA. Due to the increasing amount of commercial and residential developments around the subject property, the long-term investment of this corner lot provides ever increasing value to any potential use.

4 ZONING AND LAND USE - The site allows for 33 units to be built by right. - The site falls under tier 4 of Transit Oriented Communities (TOC) Affordable Housing Incentive Program. - 80% density bonus for a total of 60 units by right. - No parking requirements for affordability component. - 11% ELI (extremely low income), 15% VL (very low), or 25% low income. FAR : (no height restriction) BY RIGHT UNITS units TOC TIER -Transit Oriented Communities Affordable Housing Incentive Program DENSITY BONUS % - units FAR BONUS % - : AFFORDABILITY COMPONENT PARKING REQUIREMENT None

5 THE NEIGHBORHOOD Westlake and MacArthur Park Westlake is LA's second-densest neighborhood and one of the most densely populated communities in the U.S. In the heart of a booming residential submarket, Westlake is experiencing a tremendous amount of investment and development geared toward young professionals. Westlake is situated between downtown LA and Koreatown. MacArthur Park is one of LA's oldest historic parks and is set to get a facelift as part of a community revitalization project. Key upgrades have been approved by the City of Los Angeles and are expected to cost upward of $20 million over the coming years. The plan would add an outdoor classroom, picnic and amphitheater-style seating areas, a new boathouse, workout equipment beside the lake, and improve the park's entrances. A newly designed entranceway features a pair of 15-foot pillars that light up to display the words "Westlake" and "MacArthur Park". 7 S. ALVA SEVEN E. D. AKE AV IRE BLV WESTL ST. K VIEW WILSH S. PAR 6 5 LET ST. D. ONDE IRE BLV 1 STREET S. CAR WILSH SIXTH RADO ST. 3 4 TH STR EET W. Sixth Street WILSH IRE BLV D.

6 Subject Property THE LAKE ON WILSHIRE DEVELOPMENT APPROVED BY LA CITY PLANNING COMMISSION The proposed development includes a 41-story tower, a boutique hotel, and a Sri Lankan cultural center. The Los Angeles City Planning Commission has voted to approve a proposed development that calls for the construction of a high-rise apartment building near MacArthur Park. The project, known as The Lake on Wilshire, is highlighted by a proposed 41-story tower that would rise on a current parking lot at the corner of Wilshire Boulevard and Bonnie Brae Street. The new construction would create 478 apartments including studio, one-, and two-bedroom dwellings atop parking for 933 vehicles. According to the project s website, plans call for 39 residential units to be set aside for very low-income households. Save for the tower, perhaps the most visible element of the proposed development is a colorful performing arts center, which would feature an art gallery, classrooms, and an 850-seat auditorium. The facility would be oriented around Sri Lankan culture. An existing 14-story office building, constructed in the 1920s, is slated for a conversion to a 220-room boutique hotel as part of the project. The mixed-use complex is being developed by Dr. Walter Jayasinghe or Dr. J a local physician who has owned the subject property for decades. The official project website states that he has had a 40-year presence in the Westlake neighborhood. A recent article published by Streetsblog LA has questioned the merits of the project, arguing that it does not provide enough affordable housing and could spur new investment in the surrounding community. Official website: thelakeonwilshire.com

7 SURROUNDING DEVELOPMENTS 1 PASEO AT CALIFORNIAN Six-story Spanish Colonial Revival-style structure to feature 53 low-income housing units. 2 TH & PARK VIEW Transit-oriented development to consist of a five-story structure containing 82 residential units, 83 underground parking spaces, and approximately 7,000 square feet of ground-floor retail and restaurant space. 3 HAYWORTH THEATRE RENOVATION Plans for the theater, designated a historic cultural landmark by the City of LA, is to turn the second floor into production offices for writers and editors. 4 ZINC APARTMENTS Low-rise building to feature 152 luxury apartments above approximately 7,500 square feet of ground-floor retail space. 5 WILSHIRE Existing 230,000 square feet retail space to be renovated for 248 residential units. 6 S. CORONADO ST. Planned 122-unit apartment complex. 7 EIGHTH & PARK VIEW Six-story building to feature 144 studio, one-, and two-bedroom apartments, approximately 4,600 square feet of ground-floor commercial space, and an interior courtyard.

8 W. Sixth Street NEARBY RETAILERS 1. El Pollo Loco 2. Ross 3. Bank of America 4. Holiday Inn 5. Yoshinoya 6. Carl s Jr. 7. Pollo Campero 8. Jack in the Box 9. Rite Aid 10. Li le Caesars Pizza 11. Starbucks 12. McDonald s 13. Panda Express 14. Mid City BBQ 15. U.S. Postal Office 16. Home Depot Eleven 18. Subway 19. Wells Fargo 20. Chase 19 20

9 DEMOGRAPHIC OVERVIEW POPULATION. MILES. MILES MILE Total Population Median Age Median Age (Male) Median Age (Female),,, HOUSEHOLDS & INCOME. MILES. MILES MILE Total Households # of Persons per HH Average HH Income Average House Value,.,,.,,.,,