THE CENTENNIAL DOWNTOWN

Transcription

1 I N F O R M AT I O N A L F LY E R N BEAUDRY AVE AL NTE NN IAL ST DOWNTOWN LOS ANGELES NE CE PI ST 101 E AC 110 ALPINE ST A RO CEN R TER E IGU F TEN NIA LS T 110 PROPERT Y DETAILS BROKER CONTAC T Approved Tentative Map for 28 Unit Condo Building 26 Residential and 2 Commercial Condo Units Bryant Brislin, CA BRE # C bbrislin@hoffmanland.com 1021 Alpine Street, Los Angeles, CA Disclaimer: information contained herein is provided from sources deemed reliable. does not guarantee the accuracy of any of the information herein. All information should be independently verified. Nick Giannini, CA BRE # C ngiannini@hoffmanland.com Sarah Bockhorst, CA BRE # T sbockhorst@hoffmanland.com

2 SITE DETAIL ADDRESS 1021 Alpine Street, Los Angeles, CA, CONSTRUCTION TYPE Podium 3-over-2 (3 levels of living over 2 levels of parking, with one subterranean) ASSESSOR S PARCEL NUMBER COMMUNITY PLAN AREA Central City North PROPERTY SIZE +/- 035 Acres +/-15,141 Square Feet MUNICIPALITY City of Los Angeles GENERAL PLAN General Commercial CURRENT USE Six Rental Units Averaging a Gross of $5,500/month ZONING C1-1 CONDITIONS OF APPROVAL Available Upon Request; applicant is required to relocate two existing SFRs on the site. ENTITLEMENTS (TT-71385) Approved Tentative Tract Map for a mixed-use development consisting of (26) residential condominium units and (2) commercial condominium units (ENV MND) Mitigated Negative Declaration (DIR DB) Density Bonus UNIT MIX (To Be Verified With Architect During Due Diligence) UNIT TYPE A B & BR C & CR D E & ER F G (TH) Commercial Commercial UNIT # 201, 301, , 203, 302, 303, 402, , 206, 304, 306, 404, , 305, , 208, 307, 308, 407, A B TOTALS BED n/a n/a UNIT COUNT UNIT SF 1, ,696 1,140 1,845 CURRENT TENANTS current tenants will need to be relocated; the expense is estimated to be $100,000 for that. Buyer to verify and determine. HISTORICAL RESIDENCE(S) developer is conditioned to re-locate said structure(s); the expense is estimated to be $100,000 for that. Buyer to verify and determine. PLAN STATUS Civil Engineering Plans are in plan check (2 nd or 3 rd round) Archi/Structural Plans have been through one round of plan check (revisions will be submitted soon) NEIGHBORHOOD COUNCIL Historic Cultural

3 SITE DETAIL COUNCIL DISTRICT CD 1 Ed Reyes (Councilman) SCHOOLS Buyer To Verify Schools That Service Subject Property Los Angeles Unified School District Contact: (213) Castelar Street Elementary School (K-5) 840 Yale Street, API = 862 State Rank = 8 Florence Nightingale Middle School (6-8) 3311 N. Figueroa Street, API = 734 State Rank = 3 Belmont Senior High School (9-12) 1575 W. 2nd Street, API = 645 State Rank = 2 the Centennial Downtown PRICE & TERMS Consult Agents For Guidance BROKER CONTACT Bryant Brislin CA BRE # C bbrislin@hoffmanland.com Nick Giannini CA BRE # C ngiannini@hoffmanland.com Sarah Bockhorst CA BRE # T sbockhorst@hoffmanland.com

4 I N F O R M AT I O N A L F LY E R NN CENTE IAL ST CLOSE UP DRONE AERIAL ALPINE ST

5 I N F O R M AT I O N A L F LY E R PROJEC T HIGHLIGHTS LS T W AY CE T ES PIN AL SITE Y new multifamily projects underway. Alley in the Rear. NN IA LE Walking distance to Chinatown which is undergoing a major Renaissance with various a Hard Corner with an NT E AL subject site sits on DASH BUS STOP front units, facing the south, will have Great Views of the Downtown Skyline from the 2nd story up. Less than one block from the Eastside Deli which has a busy lunch crowd of LA City public employees (LAUSD, LAPD, et al), Kaiser Permanente employees, Dept of Water & Power employees, et al who are Potential Renters or Buyers. Immediately Adjacent to a DASH Bus Stop which takes riders to the USC Medical Center in Boyle Heights, the Gold Line Metrolink Station in Chinatown, various stops in Downtown LA proper, etc. for just twenty-five cents. DASH BUS STOP the Centennial Downtown RENDERING OF BLOSSOM PLAZA - RECENTLY OPENED Flexibility to Sell the Units as Condominiums or Lease as Apartments, the project is entitled as condominiums, however a developer could likely build this as a rental project if preferred. Excellent Multifamily Fundamentals, with high barrier to entry, and double digit rent growth. NIAL ST CENTEN

6 I N F O R M AT I O N A L F LY E R DO UG LA S SURROUNDING DEVELOPMENT SET SUN BLVD Gaspar + Galvez 17 SLO 110 ELYSIAN PARK AV E 450 Mill in Capital Improvements In Progress 42 New Condos (Under Const.) Figueroa Terrace Y WA IU EN NIA 92 Apts - Opened 2014 AD ST LS T 28 Future Condos 262 Units - 43K Retail Blossom Plaza FIG UE RO AT ER NT CE AY W Winsom Cafe - Echo Park N M the Centennial Downtown D OA BR 123 Aff. Apts. Chinatown Metro Apts METRO GOLDLINE CHINATOWN STATION 101 M W Ce Lotus Garden 60 Units Aff sa AL rc PIN ha ES ve T ILL GR E AV NH APPROX. 1/4 MILE DOWNTOWN L.A. D AN ST ve za (formerly Meruelo-Maddux) Recent Application Filed for 621 Resi Units + 30k sf Retail 280 Apts & 17,000 Retail 355 Apts Under Construction 43k sf Commercial/Retail Planned

7 I N F O R M AT I O N A L F LY E R VICINIT Y AERIAL BELMONT HIGH SCHOOL FLORENCE NIGHTENGALE MIDDLE SCHOOL the Centennial Downtown Mill in Capital Improvements Planned CASTELAR ELEMENTARY SCHOOL 1 APPROX. 1/4 MILE DOWNTOWN L.A. 110 M METRO STATION LINCOLN/CYPRESS M METRO STATION CHINATOWN

8 I N F O R M AT I O N A L F LY E R LINCOLN HEIGHTS/CHINATOWN DASH STATION DASH Lincoln Heights/ Chinatown Clockwise Route DASH Lincoln Heights/ Chinatown Counterclockwise Route Bus Stop Immediately Adjacent to Subject Site for DASH system which takes riders to the USC Medical Center in Boyle Heights, the nearby Gold Line Station in Chinatown, and many other Downtown locations for just 25 Cents. DASH Downtown Los Angeles Route B DASH Downtown Los Angeles Route D DASH Downtown Los Angeles Route A DASH Boyle Heights/ the Centennial East LA Route Commuter Express Route 409 Downtown Commuter Express Route 419 Commuter Express Routes 422 & 423 Metro Rail Red Line Metro Rail Purple Line Metro Rail Gold Line Bus Stop Multiple Route Stop Points of Interest A Time Point T Transfer Point Metro Rail Station & Entrance Close proximity to LAC + USC Medical Center City of Los Angeles Department of Transportation (213, 310, 323 or/o 818)

9 I N F O R M AT I O N A L F LY E R PROXIMIT Y TO GOLD LINE/PUBLIC TRANSPORTATION the Centennial Downtown in MILE in Ch 1/2 at ow n Ch 1/2 M i at ow n HOLLYWOOD

10 I N F O R M AT I O N A L F LY E R RETAIL MAP OF NEARBY NATIONAL CREDIT TENANTS/MID-TO-LARGE SIZED RETAILERS 1.5 the Centennial Downtown MILES 3.5 MILES

11 JOB PROXIMITY EXHIBIT Our 2015 Survey captures the Downtown Renaissance in full bloom, continuing the remarkable trajectory charted over the past 17 years. Median household income of respondents was consistent with past surveys at just under $100K. Similarly consistent were high levels of educational attainment and professional accomplishment. RESPONDENTS Median Age Education (Bachelor s Degree or higher) Median Household Income LIVE 38 76% $96.6K Burbank LIVE/WORK 37 80% $99.9K WORK 45 73% $99.6K VISIT 47 69% $71.5K Equally noteworthy are the attitudes expressed about DTLA. More than half had a very positive overall experience, while less than 5% indicated a negative experience, and respondents overwhelmingly said Downtown is moving in the right direction. 8 Mi Pasadena It is also clear that DTLA has emerged as a premier destination for events and activities with Downtowners attending more events ranging from arts and culture to sports and entertainment in the Downtown area than anywhere else in the city, in some categories by a margin of 2 or 3 to 1. Glendale 4 Mi 7 Mi Those who live and work Downtown are a particularly dynamic group: younger, with higher incomes and education, they are also more likely to be self-employed or a small business owner. Equally compelling, those who neither live nor work Downtown are a surprisingly enthusiastic group, almost 7 of 10 of whom are passionate about, and attend events in DTLA. Taken together, the survey data paints a picture of a vibrant and engaged Downtown population and a rapidly rising urban center that has captured the imagination and aspirations of all Angelenos. Beverly Hills Century City 10 Mi 11 Mi Hollywood 5 Mi the Centennial Downtown 1/4 Mi Downtown Los Angles 3 Mi LAC + USC Medical Center Source: 2015 Downtown Los Angeles Survey Report

12 ASSESSOR S PARCEL MAP

13 TENTATIVE TRACT NO

14 SITE PLAN

15 2ND, 3RD AND 4TH FLOOR PLAN

16 LOWER PARKING PLAN

17 BASEMENT PARKING PLAN

18 EAST & SOUTH ELEVATIONS

19 A-A SECTION

20 I N F O R M AT I O N A L F LY E R PROPERT Y PHOTOS View from Alpine Street looking northeast at subject site (existing homes) View from Alpine Street and Centennial Street looking north at subject site (existing homes) From Centennial Street looking southwest, subject site on right side (view of Downtown LA in distance) Existing structures on subject site. View from Centennial Street looking west at subject site.

21 I N F O R M AT I O N A L F LY E R DRONE PHOTOS SUBJECT PROPERTY SUBJECT PROPERTY +/- 42 UNIT CONDO PROJECT UNDER CONSTRUCTION