BANK-OWNED Potential 23-Unit Apartment Site $1,150,000 NOW $999,000 Site Analysis Provided By: 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 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. Site and development analysis provided by DEA Architects, AIA is deemed feasible but not guaranteed. 23-unit apartment scenario is based on site s by-right allowances with the exception of a variance eliminating guest parking requirement on northerly lot [a variance granted in previous entitlement on site]. DEA Architects makes no warranties regarding this analysis but will provide a phone consultation with prospective buyer during escrow due diligence period to discuss potential entitlement. Buyer may chose to retain DEA architects at their discretion. Please contact Frank Evanisko for additional information/guidance pertaining to this opportunity (818) 985-9700. Disclosure
Page 5: Property Summary Page 6: New Cartwright Schematic Garage Floor Plan Page 7: New Cartwright Schematic Typical Floor Plan Page 8: Project Highlights Page 9: Cartwright Village Development Page 10: Location Page 11: Zoning Overlay Page 12: Parcel Map Page 13: Aerial View Page 14: DE Architects Bio Page 15: Transaction Details Table of Contents
4
Location: 5338 and 5340 Cartwright Ave. APN: 2416-027-003, 004 Zoning: R3-1VL General Description: Vacant double lot. Approximately 13,500 SF of R3 land in the City of Los Angeles No Ho Arts District. DEA Architects Development Analysis: 23-unit apartment building with garage at-grade level [23 standard, 8 compact spaces]. 3-stories of residential units above. Proposed project would include two very-low income units [one 1+1 and one 2+2], 14 market-rate 1-bed units at approximately 750 SF [one space per unit pkg] and 7 market-rate 2-bed units at approximately 1,000 SF [2 spaces per unit pkg]. Initial parking study and second floor layout provided herein. Previous Plans/Entitlements: 15-Unit Apartment with partial subterranean garage. 15-Unit Condo with full subterranean garage TTM 63040. Plans for each previous scenario available upon request. Assemblage Potential: Neighboring lot also for sale to south of double lot. Existing SFR. 5334 Cartwright Ave. 6,750 SF lot. R3 Zoning. Contact broker for details. Site Dimensions: Approx 100 Frontage X 135 CRA: North Hollywood Council District: 4 - Tom LaBonge $999,000 Contact Broker regarding possible Seller financing on land acquisition. Property Summary 5
No Ho Arts District Bank-owned development site Property last sold 10/18/2005 for $1,950,000. Now available at $1,150,000. Possible Seller financing on land acquisition View of No Ho Lofts from site Project Highlights 8
View of Cartwright Village Condos from site Cartwright Village Development 9
Location 10
Zoning Overlay 11
Parcel Map 12
Chanlder Blvd. No Ho Lofts www.thenoholofts.net FOR SALE Cahuenga Blvd. Cartwright Village Condos 5334 Cartwright Ave. FOR SALE Aerial View 13
Location: APN: 2416-027-003, 004 Zoning: R3-1VL Existing Improvements: Vacant Land Full Due Diligence Information: Provided upon execution of CNDA. Full set of structural plans for 15-unit apartment and 15-unit condo building by Reiss, Brown, Ekmekji Inc. Partial set of previously approved architectural plans for 15-unit apartment building by Robbins & Brown, Inc. [Firm No longer in business] Supplemental Soils Engineering Investigation by A.G.I. Geotechnical, Inc. Soils Approval Letter Dated: 12/5/2008 Property Survey Deal Structure: Seller will allow buyer up to 30 days to conduct their due diligence. Escrow closing date TBD. Deposit Amount: 3% of purchase price shall become non-refundable, and credited against purchase price upon the expiration of Buyer s due diligence period. Financing: Contact Broker regarding possible Seller financing. Price: $999,000 Commission: Cooperating broker to receive 2.5% of final purchase price at C.O.E. paid by Seller. Contact: Frank Evanisko for additional information/guidance pertaining to this opportunity. frank@evaniskorealty.com Transaction Details 12400 Ventura Blvd. #606 Studio City, CA 91604 818.985.9700 Phone 818.985.9703 Fax 15