o Excellent builder opportunity to deliver an attractive quantity of entry-level detached product in a high-demand market for new housing inventory o 15 SLO approved Vesting Tentative Map: VTTM-73527-SL o Plans include 4 guest parking spaces, community park area and no HOA fees o Site delivered with RTI (ready-to-issue) plans o B permit bond estimate issued by City of L.A Engineering Department o Proposed single family homes range 1,503-1,833 SF [3 stories each 2 car garage each] o Anticipated end home value sales $500,000+ price range o Total Salable: 25,584 SF with 6 unit types o Price: $1,900,000 $1,600,000 Evanisko Realty & Investment, Inc. BRE: 01383591
Property Aerial Location Mission Hills Fully Entitled 15 Unit SLO
Page 4: Project Summary Page 5: Property Aerial Page 6: Parcel Map Page 7-8: Loca4on Ameni4es Page 9-10: Site Plans [Colored] Page 11: Ves4ng Tenta4ve Tract Map Page 12: Project Breakdown Page 13-15: Floor Plans [A-F] Page 16: En4tlement Status Page 17: Project Consultants Page 18-24: Recent Land Sale Ac4vity Page 25: New Home Sales North Valley Projects Page 26-27: Property Pictures Page 28: Transac4onal Details Table of Contents
The 15 home small lot subdivision project at Lassen Street presents a truly unique opportunity to obtain a fully entitled and ready-to-issue (RTI) permit development project with plans approved by the L.A City Planning/Building and Safety Departments. The site consists of 22,726 SF of flat vacant raw land with 100 feet of frontage facing Lassen Street. The site has an approved Vesting Tentative Tract map for 15 single-family homes pursuant to the L.A Small Lot Subdivision Ordinance. Each home is three (3) stories with two (2) car garages on the first floor. The project consists of 6 unit types (A through F) ranging from 1,503 to 1,833 SF. The project includes 4 guest parking spaces for visitors and a communal picnic area for the enjoyment of the residents. There will be a small monthly maintenance fee for the handling of the trash/recycling but no HOA. The Mission Hills area is conveniently located near interstates 405, 118 and 5 freeways. Providing commuter access to the greater Los Angeles area. The North Valley is undergoing a transformative period with multiple single-family and commercial development projects surrounding the site but none yet completed in Mission Hills. This project is positioned to be the first of its kind in the Mission Hills area where new housing is in great demand. Retail developer giant, Primestor, is in the process of building a catalytic 14 acre retail project just within ½ mile from the site that will bring major national retailers to the immediate vicinity. Property Information Address: 15340 Lassen St., APN: 2656-005-160 Existing Improvements: VACANT LAND Zoning: (T)(Q)RD1.5-1 Land Area: 22,726 SF Dimensions: 100 Ft. x 227 Ft. Topography: Flat Council District: CD #7 Felipe Fuentes Vesting Tentative Tract No.: VTTM-73527-SL Project Summary 4
Tentative Map Approval, Final Map Submitted, Construction Drawings in Final Plan Check VTT-70518-SL; 5 single-family lots pursuant to the L.A. Small Lot Subdivision Ordinance Proposed single family homes range 1,764-1,876 SF each [Total Sellable: 8,932 SF] Prime North Hollywood location steps from Metro Station Anticipated end home values in the $800K s Large corner lot site with alley Price: $1,900,000 Property Aerial 5
100 x 227 Parcel Map 6
Devonwood Park 1.1 mi Heritage Chris4an School 0.5 mi 0.2 mi Lassen Elementary 1.1 mi Sepulveda Ambulatory Care Center Mission Hills Golf Course Subject Property 1.2 mi Sepulveda Middle School Plummer Elementary School James Monroe High School 1.4 mi 1.3 mi Location Amenities 7
Olivo at Mission Hills 10310 Sepulveda Blvd. Overview: Primestor purchased Mission Hills Plaza, a 14-acre property, in 2007 for a poten4al redevelopment opportunity. Plans for redevelopment of the center are now being formalized with the possible addi4on of new na4onal credit tenants, a revamped façade with improvements to the exterior of the center and a possible realignment of center entrances and parking flow. 0.5 mi Subject Property Location Amenities: Primestor Olivo at Mission Hills 8
14 15 12 13 10 11 8 9 6 7 5 4 3 2 1 Lassen Street Site Plan (Colored) 9
5 `. rear setback 5 `. side setbacks Communal Open space Trash Recycle 4 guest parking spaces Two car garages on all lots Fire truck turnaround lane 15 `. front yard setbacks Entry driveway 27 `. wide Lassen Street Site Plan (Colored) 10
VTTM No. 73527-SL 11
Unit & Floor Plan Breakdown Lot Floor Plan SF Bd. Ba. 1 A 1,565 3 3 ½ 2 F 1,833 4 3 ½ 3 B 1,503 3 3 ½ 4 C 1,774 4 3 ½ 5 B 1,503 3 3 ½ 6 C 1,712 4 3 ½ 7 B 1,503 3 3 ½ 8 D 1,668 4 3 ½ 9 C 1,774 4 3 ½ 10 E 1,718 4 3 ½ 11 C 1,774 4 3 ½ 12 C 1,774 4 3 ½ 13 C 1,774 4 3 ½ 14 C 1,774 4 3 ½ 15 C 1,774 4 3 ½ Total Salable 25,423 Project Breakdown 12
Floor Plan B 1,503 SF Ø 3 Bd / 3 1/2 Ba Floor Plan A 1,565 SF Ø 3 Bd / 3 1/2 Ba 1 st level 2 nd level 3 rd level 13
Floor Plan C 1,774 SF Ø 4 Bd / 3 1/2 Ba Floor Plan D 1,717 SF Ø 4 Bd / 3 1/2 Ba Floor Plan E 1,768 SF Ø 4 Bd / 3 1/2 Ba 1 st level 2 nd level 3 rd level 14
Floor Plan F 1,833 SF Ø 4 Bd / 3 1/2 Ba 1 st level 2 nd level 3 rd level 15
Vesting Tentative Map: Approved 10/01/2015 Approved with conditions to be made prior to issuance of grading, building permits or recordation of final map. Subdivider shall make suitable arrangements to assure compliance, satisfactory to the Department of Building and Safety and all reviewing agencies. Building Permit: Zone Change: Building Line Removal: CD s submitted Received comments on CD s 12/27/2015 Condition clearance status: Plans will be deemed RTI upon final submission of corrections and LABS clearance. Approved January 12, 2016 Zone change approval RD2 to RD1.5 Approved January 12, 2016 20 foot building line not required B permit Soils Report: Received Performance Bond Estimate: 2/4/2016 Bond estimated amount $177,000 Approved March 14, 2016 Entitlement Status 16
Work Consultant Contact Info Architectural Plans Structural Engineer Civil Engineering Plans Grading Plans Drainage Plans U4lity Plan Survey Soils Engineer Uriu & Associates Techna Land Co. Inc. Eric K Chiang GeoTech Services, Inc. Upon Request En4tlement Expediter QES, Inc. Electrical Consultant Abrari & Associates Mechanical Engineer CBME, Inc. Project consultants 17
6 Subject Property 2 1 5 4 3 Recent Land Sale Activity - Map 18
1 14840 Nordhoff St Panorama City, CA 91402 [1.7 Miles From Subject Property] Land Area: 93,894 SF Zoning: [Q]RD1.5-1 [Low Medium II Residential] Close of Escrow: 10/09/2015 Sold Price: +/- $6,925,000 ($119,000 per door) Proposed Use: 58 SLO Under Construction Fully Entitled at COE Recent Land Sale Activity - Detail 19
2 9223-9251 N. Lemona Ave North Hills, CA 91343 [1.4 Miles From Subject Property] Land Area: 104,907 SF Zoning: (T)(Q)RD3-1 [Low Medium I Residential] *represented buyer and seller Close of Escrow: 5/22/2015 Sold Price: $3,500,000 ($100,000 per door) Proposed Use: 35 SLO Under Construction Entitled during COE [Sold by Evanisko Realty] Recent Land Sale Activity - Detail 20
3 14111 Sherman Way Van Nuys, CA 91405 [4.9 Miles From Subject Property] Land Area: 251,341 SF Zoning: (T)(Q)RD1.5-1 [Low Medium II Residential] Close of Escrow: 11/13/2013 Sold Price: +/- $18,390,000 ($130,318 per door) Proposed Use: 128 SLO + 4 SFR Under Construction Fully Entitled at COE Recent Land Sale Activity - Detail 21
4 14717 Sherman Way Van Nuys, CA 91405 [3 Miles From Subject Property] Land Area: 94,905 SF Zoning: [Q]RD1.5-1 [Low Medium II Residential] Close of Escrow: 7/2/2013 Sold Price: +/- $11,088,000 ($176,000 per door) Proposed Use: 63 SLO Under Construction Fully Entitled at COE Recent Land Sale Activity - Detail 22
5 15207 Saticoy St. Van Nuys, CA 91405 [3.1 Miles From Subject Property] Land Area: 219,450, SF Zoning: [T][Q] RD2-1 [Medium II Residential] Close of Escrow: 2013 Sold Price: +/- $5,500,000 ($75,000 per door) Proposed Use: 73 SLO Under Construction (Phase 1 of 4 Complete) Sold: Ø Phase 1 of 4 almost sold out (2 homes out of 18 remaining as of 03-01-2016) Ø Approx. sales between $470,000- $480,000/ea. [1,489 SF 1,494 SF] Ø Approx. $315 - $321/PSF Recent Land Sale Activity - Detail 23
6 9750 White Oak Ave. Northridge, CA 91325 [3.1 Miles From Subject Property] Land Area: 103,953 SF Zoning: [T][Q] RD3-1 [Low Medium I Residential] Close of Escrow: 7/9/2013 Sold Price: $6,075,000 ($225,000 per door) Proposed Use: 27 SLO Under Construction Fully Entitled at COE Recent Land Sale Activity - Detail 24
16314 Benjamin Ct. Granada Hills, CA 91344 [2.8 Miles From Subject Property] SF: 2,358 SF [Two Level] Bd / Ba: 4 / 3 Close of Escrow: 12/17/2015 Sold Price: $555,000 ($281 per SF) HOA: $152/mo. Built: 2012 Mission Villas 71610 Patriot Way Van Nuys, CA 91405 [3 Miles From Subject Property] SF: 1,489 +/- SF [Two Level] Bd / Ba: 4 / 2 Close of Escrow: Jan-March 2015 Sold Price: $478,900 ($321 per SF) HOA: $20/mo. Built: 2015-2016 [Phase 1: 16 of 18 homes sold] Heritage Collec6on 14681 ½ Sherman Way Van Nuys, CA 91405 [3 Miles From Subject Property] SF: 1,409 SF [Tri Level] Bd / Ba: 3 / 3 Close of Escrow: 2015 Sold Price: $478,000 ($339 per SF) HOA: $133/mo. Built: 2014 Richmond America 14111 Sherman Way Van Nuys, CA 91405 [5 Miles From Subject Property] SF: 1,676 SF +/- [Tri Level] Bd / Ba: 3 / 2.5 Close of Escrow: 8/14/2015 Sold Price: $535,000 ($319+/- per SF) HOA: $112/mo. Built: 2014-2015 Greenwood Square New Home Sales - North Valley 25
Property Pictures 26
Property Pictures 27
Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by the owner to handle the marketing and disposition of this land asset. Transaction Structure: Seller will allow 30 days for buyer to conduct their due diligence after which the initial deposit will become non-refundable. Escrow closing TBD. Price: $1,900,000 $1,600,000 Submit Offers To: Chris Martinez: chris@evaniskorealty.com Office: 818-985-9700 Cell: 323-481-8517 ALL PROPOSALS WILL BE REVIEWED BY LANDOWNER AND BROKER AS RECEIVED. Contact for entitlement information and supporting documentation. (818) 985-9700 www.thedevelopmentbrokers.com This brochure has been prepared to provide summary, unverified 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 theses matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All interested parties must take appropriate measures to verify all of the information set forth herein. Transactional Details 28