FOR SALE OR LEASE > 6507-6509 DE LONGPRE AVE LOS ANGELES, CA NATHAN PELLOW Executive Vice President License No. 01215721 213 532 3213 nathan.pellow@colliers.com JAMES ROBBINS Senior Associate License No. 01944738 213 532 3269 james.robbins@colliers.com PATRICK MOODY Associate License No. 02024230 213 327 3334 patrick.moody@colliers.com
> TABLE OF CONTENTS EXECUTIVE SUMMARY Executive Summary...3 Property Highlights...4 Floor Plan...7 Property Photos...8 Rent Roll / Income & Expense Summary - Proforma...12 Plat Map...13 Location Map...14 Amenities Map...16 Featured Developments...18 Sales Comparables...20
> EXECUTIVE SUMMARY SUMMARY ADDRESS 6507-6509 De Longpre Avenue Los Angeles, CA BUILDING SF 4,590 LAND SF 7,199 THE OFFERING Colliers International, as Exclusive Broker, is pleased to present the op- 6507-6509 De Longpre Ave in Hollywood, CA - an irreplaceable location in the heart of the booming Hollywood market. ASKING PRICE $4,250,000 ASKING LEASE RATE $4.00 PSF NNN BUILDING PSF $925 LAND PSF $590 equipped with a gated parking lot suitable for up to 15 cars. The property is centrally located in downtown Hollywood. Its location provides easy access to Hollywood amenities, world-famous production studios, new/existing developments and the 101 freeway. 6507-6509 De Longpre underwent a major renovation in 2008 and the result was an architecturally sound build- This compound provides the perfect opportunity for owner/users and investors to purchase a new building in the heart of Hollywood. P. 3
> AMENITIES PROPERTY HIGHLIGHTS MAP P. 4
PROPERTY HIGHLIGHTS Sales Price: $4,250,000 Lease Rate: $4.00 PSF NNN Price PSF Building: $925 Price PSF Land: $590 Square Feet: 3,600-4,590 SF Proforma Cap Rate: 5.2% Address: 6507-6509 De Longpre Avenue APN: 5546-014-016 Property Type: Building Size: Lot Size: Zoning: 4,590 SF 7,199 SF LAC2 Year Built: 1948 Year Renovated: 2008 Stories: 1 Parking: 10 gated spaces, potential for 15 tandem spaces
BUILDING HIGHLIGHTS > Fully renovated in 2008 > Bright space with high ceilings and skylights throughout > Private gated parking > Private gated & landscaped courtyard > Private writers bungalow with full shower > Fully wired with data/telecom/security/ sound system > Walking distance to restaurants, bars, new hotels and the Arclight theater > Irreplaceable location in the heart of booming Hollywood
> FLOOR PLAN 4,590 SF +/- 3,600 SF +/- 990 SF +/- P. 7
> INTERIOR PHOTOS - FRONT BUILDING P. 8
> INTERIOR PHOTOS - FRONT BUILDING P. 9
> INTERIOR PHOTOS - FRONT BUILDING P. 10
> INTERIOR PHOTOS - REAR BUILDING P. 11
> RENT ROLL / INCOME & EXPENSE SUMMARY - PRO FORMA Unit Use PSF/Mo. SF Per Month Per Year 1 $4.00 4,590 $18,360 $220,320 Total 4,590 $18,360 $220,320 Monthly Yearly Total Rent $18,360 $220,320 Expenses Insurance $300 $3,600 Taxes $2,000 $24,000 HVAC $58.33 $700 Gardening/Sprinkler $150 $1,800 Exterminator $50 $600 Roof Service $100 $1,200 Utilities (Electric, Gas, Water) $600 $7,200 Pest Control $50 $600 Cleaning (Interior 1x per week) $500 $6,000 Trash Service $150 $1,800 Total Expenses $3,908 $46,900 NOI $18,360 $220,320 NOI Value Cap Rate $220,320 $4,250,000 5.2% P. 12
> PLAT MAP P. 13
> LOCATION MAP LOCATION MAP 6507-6509 DE LONGPRE AVE P. 14
> AMENITIES P. 15
> AMENITIES MAP 37 SUNSET BLVD 6507-6509 De Longpre Avenue 47 16 54 40 4 7 42 43 60 21 20 50 9 28 24 36 25 26 48 41 27 1 6 38 49 58 29 59 30 15 31 56 53 3 8 12 11 23 52 10 17 19 18 51 5 44 45 32 2 39 55 13 22 57 34 VINE STREET 35 33 14 46 P. 16
> AMENITIES Studio/Theaters 1 ArcLight Cinemas 2 Hollywood Palladium 3 Hollywood Pantages Theatre 4 Arena Cinelounge Lounge 5 The Fonda Theatre 6 The Montalban Hotels/Residences 7 Dream Hollywood 8 W Hollywood 9 The Hollywood Hotel 10 Instrata Sunset Vine Tower Apartments Food (continued) 27 Stella Barra Pizzeria 28 Big Wangs Hollywood 29 Kabuki Japanese 30 800 Degrees Pizza 31 Jersey Mike s Subs Development 32 Palladium Residences - 731 Apartment Units 33 Rise Hollywood - 369 Apartment Units 34 The Academy Hollywood - 250 Apartment Units 35 Onni s Hollywood Tower - 429 Residential Units 36 Hollywood Ivar Garden - 21 Story Hotel Other 48 Amoeba Music 49 Capital Records Building 50 CNN Tower 51 Sunset Media Center 52 Equinox 53 Hollywood/Vine Metro Station 54 US Postal Service 55 Southern California Hospital Hollywood 56 Bank of America 57 LAPD 58 Trader Joes 11 The Camden Apartments 12 1600 VINE 13 Hollywood Proper Residences 14 Villa Elaine Apartments 15 Sunset & Vine 16 Hudson Hollywood Apartments Food 17 Starbucks 18 Tender Greens 19 Chipotle 20 21 22 23 McDonald s 24 Umami Burger 25 Jack In The Box 37 Crossroads of the World - 760 Units & 308 Hotel Rooms 38 Millenium Hollywood - Two Towers, 30 Stories each 39 Essex Hollywood - 200 Multifamily Units Bar/Nightlife 40 Warwick 41 Lure Nightclub 42 Tao 43 Beauty & Essex 44 Good Times at Davey Wayne s 45 The Argyle 46 Sassafras Saloon 47 No Vacancy 59 Walgreens 60 26 Veggie Grill P. 17
> FEATURED DEVELOPMENTS 4 Hollywood Ivar Gardens 6409 Sunset Boulevard 3 Onni s Hollywood Tower 1360 N. Vine Street 2 The Academy 1341 N. Vine Street SUBJECT PROPERTY 6507-6509 De Longpre Avenue 1 Rise Hollywood 1311 North Cahuenga Boulevard P. 18
1 Rise Hollywood - 1311 N Cahuenga Blvd 2 The Academy - 1341 N Vine St This 7-story development calls for 369 apartments and 2,500 square feet of commercial space. The amenities include an underground parking structure, gym, and outdoor deck areas. The development is located just 1 block from the subject property and is set to be complete in the second half of 2018. Kilroy Realty has begun the construction process on a $450-million development project that will feature 250 square feet of retail space. The mixed-use complex consists of 2 mid-rise structures along with a 23-story residential tower, and is located just 2 blocks east of the subject property. Construction began in 2016 and there is 3 Onni s Hollywood Tower - 1360 N Vine St 4 Hollywood Ivar Gardens - 6409 Sunset Blvd tower that will include 429 units, 60,000 square feet of pedestrian friendly commercial space and parking for 677 vehicles. Open space is a major attraction to the 262-foot and a grocery store. The development is located just 3 blocks from the subject property, and if approved by the city, will be completed in 2021. The current Jack in the Box on Sunset will be transformed into a 21-story hotel featuring 275 rooms, parking for 135 vehicles, and roughly 2,000 square feet of commercial space. The art-deco inspired structure will include a roof- across from the CNN Tower, a few blocks north of the subject property and will take 22 months to construct no timetable on when it will break ground. P. 19
> SALES COMPARABLES SALES COMPARABLES MAP 4 1 6507-6509 DE LONGPRE AVE 8 5 2 10 1 5 9 7 3 6 P. 20
> SALES COMPARABLES SALES COMPARABLES # BUILDING PHOTO PROJECT NAME / ADDRESS BUILDING SIZE PRICE / PSF SALES PRICE DATE SOLD NOTES 6507-6509 De Longpre Avenue Los Angeles, CA 90028 4,590 SF -- -- -- Subject property 1 818 North La Brea Avenue Los Angeles, CA 90038 5,340 SF $749.06 $4,000,000 09/01/2017 Property delivered vacant for owner/user purchase 2 6424 Santa Monica Boulevard Los Angeles, CA 90038 6,006 SF $791.88 $4,750,000 05/09/2017 Reverse 1031 Exchange - on the market for just over a month 3 709 North Gardner Street Los Angeles, CA 90046 2,832 SF $847.46 $2,400,000 04/26/2017 All cash, owner/user sale 4 1601 Ivar Avenue Los Angeles, CA 90028 5,414 SF $785.00 $4,250,000 04/06/2017 Owner/User Sale 5 910 North Citrus Avenue Los Angeles, CA 90038 5,000 SF $700.00 $3,500,000 12/14/2016 P. 21
> SALES COMPARABLES SALES COMPARABLES # BUILDING PHOTO PROJECT NAME / ADDRESS BUILDING SF PRICE / PSF SALES PRICE DATE SOLD NOTES 6 5707-5709 Melrose Avenue Los Angeles, CA 90038 10,390 SF $952.84 $9,900,000 12/01/2016 1031 Exchange 7 755 Seward Street Los Angeles, CA 90038 6,000 SF $841.67 $5,050,000 11/29/2016 Owner/User Sale, building was purchased raw for custom build-out tailored to the buyers business 8 1400 North Cahuenga Boulevard Los Angeles, CA 90028 11,845 SF $1,392.99 $16,500,000 08/18/2016 Redevelopment 9 843 Seward Street Los Angeles, CA 90038 4,234 SF $879.78 $3,725,000 07/01/2016 Owner/User purchase, property was renovated in late 2015 10 953 North Cole Avenue Los Angeles, CA 90038 2,800 SF $1,062.50 $2,975,000 In Escrow Average Price PSF: $900.31 P. 22
FOR SALE OR LEASE > 6507-6509 DE LONGPRE AVE LOS ANGELES, CA NATHAN PELLOW Executive Vice President License No. 01215721 213 532 3213 nathan.pellow@colliers.com JAMES ROBBINS Senior Associate License No. 01944738 213 532 3269 james.robbins@colliers.com PATRICK MOODY Associate License No. 02024230 213 327 3334 patrick.moody@colliers.com