Site is poised for a multitude of potential development scenarios including SLO, condo, apartment, senior housing, affordable housing, and charter school. An extremely rare one-of-a-kind 2.27 acre single [R3 & RA zoned ] parcel with 164 of frontage on Sepulveda Blvd. Under current ownership for 22 years. Ownership may entertain subject-to-entitlement purchase and closing scenarios. $6,000,000 Evanisko Realty & Investment, Inc. BRE 01383591
Disclosure The Opportunity Current General Plan and Zoning Distribution Basic Property Information Quick Specs Basic Property Information Location Basic Property Information Residential Valuation Snapshot Potential Development Scenario A Affordable Housing and/or Senior Housing +/-126 Units 4 5 6 7 8 9 10-12 Potential Development Scenario B Small Lot Subdivision +/- 54 Lots 13-18 Potential Development Scenario C Charter School Development Current Surrounding Uses Recent Land Sales Activity Transactional Guidance Broker Contact Information 19-20 21-22 23-27 28 29 Table of Contents
4 This brochure has been prepared to provide summary, unverified information to interested parties, and to establish a level of interest in the subject development opportunity. The potential development scenarios outlined herein shall serve only as a guide to highlight certain feasible future uses of the site; all of which will require some form of discretionary governmental approval. Evanisko Realty & Investment, Inc. has been engaged on an exclusive basis with the understanding that the Sellers will cooperate with the selected Buyer s intended entitlement pursuit. 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. Purchase offers and correspondence regarding this opportunity are to be directed to: Frank Evanisko BRE: 01383591 (818) 985-9700 frank@evaniskorealty.com Disclosure
5 The substantial size and uniquely advantageous orientation of the site presents a multitude of development possibilities. This brochure shall serve as a preliminary guide to understanding the existing site parameters and some of the potential future uses of the property. Possible development scenarios for the site include but are not limited to: A. +/- 126 affordable and/or senior apartments B. +/- 54 SLO or townhome condominiums C. Charter school or +/- 76 apartment units + charter school PARTNERSHIP-STYLE SALE TRANSACTION: Ownership may entertain subject-toentitlement purchase and closing scenarios allowing a builder to drastically diminish entitlement risk under one or more of the aforementioned development scenarios. Closing may occur upon the award of the selected Buyer s desired entitlement procedure. The Opportunity
6 RA-1 Zoning Low Residential GP Approx 53,265 SF R3-1 Zoning Medium Residential GP Approx 45,382 SF **The R3-1 portion has a depth of approximately 274 from Sepulveda Blvd. Current General Plan and Zoning Distribution
7 APN 2656-016-005 Land Area Existing Improvements Zoning Topography Trees +/- 98,754.2 SF [2.27 Acres] Vacant, 11,074 SF educational facility R3-1 and RA-1 Flat No oak trees or other species of protected trees exist on the site Approximate Site Dimension: 164 X 590 Council District CRA CD7 Felipe Fuentes Pacoima/Panorama City Basic Property Information Quick Specs
8 The site is located within the North Hills neighborhood of Los Angeles City 1.65 miles south of the 118 Freeway and 3 miles east of Cal State Northridge. The site is positioned close to several major shopping centers, hospitals, and is directly adjacent to schools and public transportation. Basic Property Information Location
9 According to the MLS, all detached single family homes in the North Hills community of Los Angeles [the geographic boundary specified below] SOLD since 6/1/2014 average an end sales price of $453,809 with an average size of 1,728 square feet. Current residential activity pictured above source: Zillow Basic Property Information Residential Valuation Snapshot
10 Example of a 126-unit senior housing community - developed by Meta Housing Corp. Possible Development Scenario A Affordable Housing and/or Senior Housing +/- 126 Units
11 Front Portion of Site [164 X 274 ] 45,382 SF Land Zoned R3-1 76-Unit Total Potential Yield Includes 35% Bonus Density Rear Portion of Site [168 X 316 ] 53,265 SF Land Zoned RA-1 50-Unit Total Potential Yield Assumes the exact DU/ACRE as the adjacent Plummer Village Senior Apartments Under an affordable housing and/or senior housing development scenario, density would be maximized within the R3-1 portion of the property by utilizing the 35% bonus density to reach a by-right unit count of 76 units. Assuming a unit count density equivalent to that of the adjacent Plummer Village Senior Apartments, the RA-zoned portion of the site would yield 41 DU/ACRE or a total of 50 units. This may be achieved through various entitlement mechanisms the least invasive being a variance. Plummer Village achieved a density of 41 DU/ACRE on the adjacent RA-1 parcel through a variance; ZV-1981-362 Possible Development Scenario A Affordable Housing and/or Senior Housing +/- 126 Units
12 Plummer Village Senior Apartments 79,450 SF Land Zoned RA-1 Existing 75 Unit Senior Apartments Developed to a density of 41 DU/ACRE The concentration of massing would likely diminish from four stories within the R3-1 portion to three stories within the RA-1 portion of the site. A 28 access drive would likely extend along the southerly boundary of the site and along the rear of the site providing both fire access and a significant buffer between the new building and surrounding residential uses. The total unit count yield under these assumptions would reach approximately 126 units. The listing price represents a land price per door of $47,619/unit under this potential 126 unit development scenario. Possible Development Scenario A Affordable Housing and/or Senior Housing +/- 126 Units
13 Possible Development Scenario B Small Lot Subdivision +/- 54 Lots
14 Required Entitlement Mechanisms for this Scenario: 1. General Plan Amendment (and concurrent RD1.5 zone change) from a mix of Medium Residential [R3-1] and Low Residential [RA-1] to a cohesive Low Medium II Residential. This will allow a developer to blend the unit count density distribution across entire site without increasing the current by-right overall unit count density. 2. Concurrent subdivision filing Possible Development Scenario B Small Lot Subdivision +/- 54 Lots
15 Required Entitlement Mechanisms for this Scenario: 1. General Plan Amendment (and concurrent RD1.5 zone change) from a mix of Medium Residential [R3-1] and Low Residential [RA-1] to a cohesive Low Medium II Residential. This will allow a developer to blend the unit count density distribution across entire site without increasing the current by-right overall unit count density. 2. Concurrent subdivision filing The listing price represents a land price per door of $111,111 per lot under this potential 54 lot SLO scenario. Possible Development Scenario B Small Lot Subdivision +/- 54 Lots
16 Required Entitlement Mechanisms for this Scenario: 1. General Plan Amendment (and concurrent RD1.5 zone change) from a mix of Medium Residential [R3-1] and Low Residential [RA-1] to a cohesive Low Medium II Residential. This will allow a developer to blend the unit count density distribution across entire site without increasing the current by-right overall unit count density. 2. Concurrent subdivision filing The configuration above has been created by Office PS Architects who has been retained by Evanisko Realty & Investment, Inc. to assist in determining the residential development potential of the land under certain entitlement assumptions. Possible Development Scenario B Small Lot Subdivision +/- 54 Lots
17 Existing General Plan Use Distribution Potential SLO Scenario General Commercial Medium Residential Low Medium II Residential Low Residential Low Residential Very Low Residential Possible Development Scenario B Small Lot Subdivision +/- 54 Lots
18 Proposed General Plan Use Distribution Potential SLO Scenario General Commercial Low Medium II Residential Low Medium II Residential Low Residential Low Medium II Residential Very Low Residential Under the proposed general plan amendment pictured above, the subject property would adopt a cohesive general plan designation of Low Medium II Residential and a concurrent zone change to RD1.5. These proposed entitlement mechanisms would produce a substantial net decrease in proposed residential unit count from the current allowable by-right unit count from 76 to +/- 54 [see potential SLO lot plan contained herein]. More importantly, the proposed general plan amendment would allow for an even distribution of residential units across the site thus facilitating a developer s ability to offer marketable for-sale townhomes or SLO homes to first-time homebuyers. The resulting project would also produce a logical density step-down as the liaison between the three story 75-unit Plummer Village Apartments and the single family homes directly to the south. Possible Development Scenario B Small Lot Subdivision +/- 54 Lots
19 Possible Development Scenario C Charter School Development
20 RA-1 Portion 53,265 SF Land Charter School Development R3-1 Portion 53,265 SF Land +/- 76 Unit Apartment Development Sepulveda Blvd. 28 Access Drive Easement A charter school facility may be developed and operated on the entire site or a section of the site with only a CUP needed on the RA-1 portion of the property. A charter school facility may be developed and operated on only the RA-1 portion of the property with an apartment building of +/- 76 units developed on the R3-1 portion of the property. A 28 access drive would be maintained as an easement across the R3-1 portion. The scenario above contemplates utilizing the RA-1 portion of the property for the development of a charter school with an apartment building developed on the R3-1 portion. The scenario assumes that a 28 access drive across the southerly portion of the R3 would be maintained to grant access to the new charter school. Under this scenario, a charter school would be operable under a CUP and the R3-1 land would be developed by-right. Possible Development Scenario C Charter School Development
21 9459 Sepulveda Blvd. Commercial [Q]C2-1VL corner Automotive Sales Hometown Inn 9401 Sepulveda Blvd. 64 Unit Hotel Property Current General Plan - Low Medium II Residential Current Zoning: RD1.5-1 Built 1960 when zoning was C2 Plummer Village 15450 Plummer St. 75 Unit Senior Apartments 79,450 SF Lot 31 Parking Spaces Current General Plan Low Residential Current Zoning: RA-1 Project approved with variance ZV-1981-362 Adjoining Single Family Homes Five SFR s abut the subject property Current Surrounding Uses
Francisco Sepulveda Middle School API Score: 731 Hometown Inn 64 Unit Hotel Commercial Corner Single Family Homes Plummer Village 75 Unit Senior Apartments Nursery Cell Tower
23 D Subject Property A C B Recent Land Sales Activity
24 A 15136 Nordhoff St. [2,691 Feet From Subject Property] Land Area: 89,704 SF Zoning: RA-1 [Low Medium II Residential] Close of Escrow: 12/4/2014 Sold Price: $4,675,000 ($52/FT) Proposed Use: Charter School Development Recent Land Sales Activity
25 B 14111 Sherman Way Van Nuys, CA 91405 [3.15 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) and ($73/FT) Proposed Use: 128 SLO + 4 SFR Under Construction Fully Entitled at COE Recent Land Sales Activity
26 C 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) and ($117/FT) Proposed Use: 63 SLO Under Construction Fully Entitled at COE Recent Land Sales Activity
27 D 9750 White Oak Ave. Northridge, CA 91325 [2.87 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) and ($58/FT) Proposed Use: 27 SLO Under Construction Fully Entitled at COE Recent Land Sales Activity
28 Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by the owner to handle the marketing and disposition of this land asset. Title: Title will be Fidelity National Title Officer: Patti Porter/Rep: Janis Okerlund Price: $6,000,000 CONTACT FRANK EVANISKO FOR ADDITIONAL GUIDANCE ON OFFER SUBMISSIONS FRANK@EVANISKOREALTY.COM ALL PROPOSALS WILL BE REVIEWED BY LANDOWNERS AND BROKER AS RECEIVED. For additional information/guidance on this and other development opportunities contact: Evanisko Realty & Investment, Inc. (818) 985-9700 www.thedevelopmentbrokers.com Transactional Guidance
29 When we look at your property.we envision what it can be. Frank Evanisko frank@evaniskorealty.com David Melaugh melaugh@evaniskorealty.com Chris Martinez chris@evaniskorealty.com Evanisko Realty & Investment, Inc. BRE 01383591