FOR SALE Rare [Q] R3-1 lot on Mariposa Avenue and Melrose Avenue Within close proximity to Hollywood, DTLA, and Koreatown Potential to develop up to 6 residential units Close convenience to 101 Freeway 7,138 SF lot 50 X 142.71 PRICE: $449,000 The Development Brokers 12400 Ventura Blvd. #606 Studio City, CA 91604 818.985.9700 Phone 818.985.9703 Fax
This brochure has been prepared to provide unverified summary 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 these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Broker and Owner make no representations/warranties as to the development potential of land. All interested parties must take appropriate measures to verify all of the information set forth herein. Please be advised, Buyer acknowledges that Evanisko Realty & Investment, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting Evanisko Realty & Investment, Inc. to submit an offer on its behalf acknowledges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers. Evanisko Realty & Investment, Inc. has a policy of pro-active broker co-operation with the investment brokerage community. A co-operating broker fee of 2% of the purchase price shall be paid at closing to the cooperating broker that represents the buyer that acquires this property. It is Evanisko Realty & Investment, Inc. s policy to not co-operate with brokers that represent themselves as Principals. Please contact Evanisko Realty & Investment, Inc. for additional information/guidance pertaining to this property. When we look at your property, we envision what it can be Disclosure 2
Page 4: Property Summary Page 5: Zimas Page 6-7: Site Location Page 8: Parcel Map Page 9: Zoning Description Page 10-11: Zone Change Ordinance Page 12-14: Tree Protection Ordinance Page 15: Transaction Details Page 16: Company Information Table of Contents 3
This unique R3-zoned property brings a well-timed opportunity to potentially develop up to 6 residential units near one of Los Angeles s busiest and well-known streets, Melrose Avenue. The lot has a [Q] condition which restricts the density to 1 unit per every 1,200 SF. To maximize the development potential of this property, we recommend pursuing four concurrent discretionary actions: 1. Submit application for 6 unit condo subdivision 2. Slight modification for 6 th unit as by-right density calculation of 1:1,200 will yield 5.948 units 3. Apply for removal of 35 building line 4. Apply for removal of oak tree Ownership is selling the property as-is and will not be agreeable to long escrows contingent upon any form of entitlement. Site Location: 656 N Mariposa Ave, Existing Improvements: Vacant land. Oak tree located on property. (For more information please see pages 12, 13 & 14) APN: 5520-004-051 Total Land Area: 7,138 SF Current Zoning: [Q] R3-1 (See Zoning Description pg 9) Entitlements: No subdivision application or plans have been submitted Land Dimensions: Refer to Parcel Map (pg 8) [50 X 142.71 ] Topography: Flat Jurisdictional Information: City of Los Angeles CD13 Eric Garcetti Price: $449,000 Property Summary 4
Zimas 5
Site Location 6
2.4 Miles to Hollywood 2.2 Miles Silver Lake / Echo Park Area 0.9 Miles to Beverly/Vermont Metro Red Line Station 1.1 Miles to Koreatown 5.1 Miles to Dodger Stadium 4.3 Miles to Downtown Los Angeles Site Location 7
Parcel Map 8
1:1200 Sq/Ft Density 5.948 Units By-Right (See Q Condition) [Q] R3-1 Pertains to density limitations. Maximum density of multiple-unit residential development shall not exceed one dwelling unit for each 1,200 square feet of lot (See Zone Change Ordinance page) 3:1 FAR No height limit Zoning Description 9
Maximum density of multiple-unit residential development shall not exceed one dwelling unit for each 1,200 square feet of lot Zone Change Ordinance 10
1:1200 Sq/Ft Density 5.948 Units allowed Zone Change Ordinance 11
For the full ordinance documents please contact the broker To obtain a protected tree report please contact: Kay J. Greeley, PE, PLA, BCMA ISA Board Certified Arborist WE-11408 Seven Elk Ranch Design Inc. 284 Valley Gate Road Simi Valley, CA 93065 Tel: 805-577-8432 Email: kaygreeley@earthlink.net Tree Protection Ordinance 12
Tree Protection Ordinance 13
Distance from front to the tree: approx. 120 ft Oak Tree Distance from (L) Side to tree: approx. 25 ft Distance from (R) side to tree: approx. 25 ft Distance from back to tree: approx. 27 ft. These are only approximations. All interested parties are encouraged to conduct their own investigations and appropriately verify all of the information and measurements. Tree Protection Ordinance 14
Deal Structure: Only cash offers will be entertained. Buyer will be allowed up to 30 day to conduct their due diligence after which a 5% deposit will become non-refundable and released to seller [removal of all buyer contingencies]. Escrow to close within 30 days thereafter. Price: $449,000 Submit Offers To: Evanisko Realty & Investment, Inc. Chris Martinez ALL PROPOSALS WILL BE REVIEWED BY PROPERTY OWNER AND BROKER AS RECEIVED Commission: 2 % to cooperating broker For additional information/guidance on this and other development opportunities contact: Evanisko Realty & Investment, Inc. (818) 985-9700 Transaction Details 12400 Ventura Blvd. #606 Studio City, CA 91604 818.985.9700 Phone 818.985.9703 Fax 15
INFILL LAND SALES CONSTRUCTION FINANCING MARKET INTELLIGENCE The Development Brokers.com Frank Evanisko President frank@evaniskorealty.com David Melaugh Vice President melaugh@evaniskorealty.com Chris Martinez Land Broker chris@evaniskorealty.com Evanisko Realty & Investment, Inc. 12400 Ventura Blvd. #606 Studio City, CA 91604 P. (818) 985-9700 F. (818) 985-9703 Lic. 01383591 www.thedevelopmentbrokers.com Our Business Evanisko Realty & Investment, Inc. facilitates the transaction of infill development opportunities within the Southern California marketplace. Since its inception in 2003, Evanisko has sold or structured various partnerships for the redevelopment of over 100 sites ranging from 6,000 SF single family lots to high profile/high density downtown land assemblages. Harnessing the power of real time local development market information has been the key to Evanisko s ability to effectively and properly advise clients through each step of every transaction. Maintaining a vertically integrated development-based niche [Sales and Finance] has allowed Evanisko to clearly differentiate itself within the local brokerage community. An effective broker recognizes the fact they are in the business of information.