First time on market since 1928 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 summary, unverified information to prospective buyers, and to establish only a preliminary level of interest in the subject property. 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 theses matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Property to be sold in AS-IS condition. Broker makes no representations as to the properties development potential and/or condition. All potential buyers must take appropriate measures to verify all of the information set forth herein by conducting their own due diligence and investigations. Please contact Frank Evanisko for additional information/guidance pertaining to this opportunity (818) 985-9700. Disclosure
Page 4: Property Summary Page 5: Jasmine Villas Activity Page 6: Location Page 7: Aerial Page 8: Zoning Page 9: Parcel Map Page 10: Interior Photos Page 11: Relevant Market Activity Page 12: Transaction Details Table of Contents
Located in Palms just a stone s throw away from Downtown Culver City, the property is the perfect opportunity for a builder/developer to acquire an affordable, well-located, and financeable potential development site. The existing home on the site is full of character and has been very well maintained. Please do not disturb occupants. Call broker for showing appointment. Location: APN: 4313-002-025 General Description: Existing 1264 sq. ft. SFR on a 7500 sq. ft. LAR3-1 lot. Zoning: R3-1: Allows up to 9 units by-right. Existing Improvements: SFR Topography: Flat Council District: CD10 Herb Wesson Lot Dimensions: 50 X 150 CRA: None No Existing Debt Live-in or lease home while pursuing entitlements Price: $575,000 Property Summary 4
Jasmine Villas is a recently completed 27-unit condo development located two blocks from the Clarington Property Jasmine Villas Activity 5
Location 6
Aerial 7
Zoning 8
Parcel Map 9
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3637 Dunn Dr. Recently completed Apartment Building 5,400 Sq. Ft. Lot Zoned R3-1 50X108 Lot Lot Purchased 2005: $610,000 3427 S. Mentone Ave. 70% Completed Apartment Building 8,250 Sq. Ft. Lot Zoned R3-1 55X150 + Alley Lot Purchased 2007: $890,000 Relevant Market Activity 11
Location: APN: 4313-002-025 Zoning: R3-1 Existing Improvements: SFR Entitlements and Due Diligence Information: There are no entitlements. Buyer to be responsible for determining development potential of property. Deal Structure: Seller will allow buyer up to 21 days to conduct their due diligence. Escrow closing date TBD. Deposit Amount: 3% of purchase price shall become non-refundable and credited towards purchase price upon the expiration of Buyer s due diligence period. Price: $575,000 Offer Submissions: All offers must include a lender pre-qualification letter and proof of funds. Commission: Cooperating broker to receive 2.5% of final purchase price at C.O.E. paid by Seller. Please contact Frank Evanisko for additional information/guidance pertaining to this opportunity. frank@evaniskorealty.com Potential Development Site Transaction Details 12