670 s. la brea avenue inglewood, ca 90301€¦ · 670 s. la brea avenue inglewood, ca 90301 prime...

670 S. LA BREA AVENUEINGLEWOOD, CA 90301PRIME INGLEWOOD CORNER RETAILOWNER-USER/RETAIL REPOSITIONING OPPORTUNITY

OFFERING MEMORANDOM | $800,000

2

S L

a B

rea

Ave

W Century Blvd

W Manchester Blvd

SUBJECT PROPERTY

W Arbor Vitae St

This Memorandum (“Offering Memorandum”) has been prepared by Hudson Partners, Inc. and BRC Advisors, Inc. based on information that was furnished to us by sources we deem to be reliable. No warranty or representation is made to the accuracy thereof; subject to correction of errors, omissions, change of price, prior sale, or withdrawal from market without notice.

This Memorandum is being delivered to a limited number of parties who may be interested in and capable of purchasing the Property. By its acceptance hereof, each recipient agrees that it will not copy, reproduce or distribute to others this Memorandum in whole or in part, at any time, without the prior written consent of Hudson Partners, Inc. and BRC Advisors, Inc., and it will keep permanently confidential all information contained herein not already public and will use this Confidential Memorandum only for the purpose of evaluating the possible acquisition of the Property.

This Memorandum does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information, which prospective buyers may need, or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of the Owner and, therefore, are subject to material variation. This Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Memorandum.

This Memorandum is being delivered by Hudson Partners Inc. and BRC Advisors, Inc., to prospective purchasers with the understanding that all prospective purchasers will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Additional information and an opportunity to inspect the site will be made available to interested and qualified prospective purchasers. Hudson Partners, Inc. and BRC Advisors, Inc., reserves the right to request the return of any or all of the information enclosed.

3

E 1

01st

ST

© 2019 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Hudson Commercial Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Hudson Commercial Partners, Inc. and the Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

TABLE OF CONTENTS

SECTION ONE 04EXECUTIVE PROFILE

SECTION TWO 12PROPERTY INFORMATION

Los Angeles Stadium& Entertainment

District

W Manchester BlvdS

Pra

irie

Ave

W Century Blvd

Pincay Dr

THE FORUM

CLIPPERS STADIUM

0.8 MILES FROM SUBJECT PROPERTY

SECTION 1 | EXECU

TIVE OVERVIEW

RAMS & CHARGERSSTADIUM

6 - HUDSON COMMERCIAL PARTNERS, INC.

PROPERTY DESCRIPTION

Hudson Commercial Partners is pleased to present the opportunity to acquire 670 S La Brea Ave, a freestanding, 1676 SF building on a 4688 SF lot that fronts tremendous traffic visibility above 30,000CPD. The asset also offers the investor added value in the acquisition of a building within a high density, urbanized community that is centrally located to the 405 and 105 Freeways.

The expansive INCSYY zoning on this corner site allows for many commercial service repositioning opportunities, including but not limited to: • National Credit Fast Food Tenant • Hotel or Motel • Auto Rental and Sales • Auto Repair • Mobile Home Sales • Car Wash

670 S. La Brea Ave. is strategically situated just three blocks west of the expansive Centinela Hospital Medical Center. Which brings $1.1 Billion per year in gross revenues and staffs 345 beds.

Of even greater potential is the subject property’s close proximity to the Los Angeles Stadium at Hollywood Park (6 short blocks, 0.9 miles, 4 minute drive), a sports and entertainment district under construction in Inglewood. The stadium will serve as the home to the Los Angeles Rams and the Los Angeles Chargers of the National Football League (NFL).

The stadium and surrounding development around the site include a new entertainment complex with 8.5 million square feet of office tower space, including: • A 6,000-seat music and theatre venue • ballrooms • A multiplex movie theater • A lake • Luxury hotels • High-scale dining • An NFL Flagship Campus, including the new NFL Network studio and headquarters for the league’s digital properties. In addition to Rams and Chargers games, the stadium will host Super Bowl LV in 2021

HUDSON COMMERCIAL PARTNERS, INC. - 7

site description Physical description

PROPERTY INFORMATION

DESCRIPTION SPECIFICATION

BUILDING SIZE 1,676 SF

PARCEL AREA 4,688 SF

APN 4021-031-007

CONDITIONAL USE PERMIT Auto Related

FLOOR-TO-AREA RATIO 0.36

ZONING INCSYY

PARKING 6 Spaces

PARKING RATIO 3.58/1,000 SF

YEAR BUILT 1926

TENANCY Single-Tenant

ALLOWED USES Mortuary | Retail | Auto

HIGHWAY ACCESS 105 and 405 Freeways

DESCRIPTION SPECIFICATION

CONSTRUCTION TYPE Concrete Masonry

FOUNDATION Concrete Slab

CURRENT USE Auto Repair

FIRE PROTECTION Fire Extinguisher

HVAC None

RESTROOMS 1 Restroom

POWER 200 Amp

CEILING HEIGHT 12 Feet

LOT DIMENSIONS 128.22’ x 81.57’ x 100’

STREET FRONTAGE 128.22 Feet on S La Brea Avenue

TRAFFIC COUNT ± Vehicles Per Day


SUMMARY TERMS

PRICE $800,000

DOWN PAYMENT (20%) $160,000

BUILDING SIZE 1,676 SF

PRICE PER FOOT ON BUILDING $477.33

LOT SIZE 4,688 SF

PRICE PER FOOT ON LAND $170.65

YEAR BUILT 1926

ZONING INCSYY

DESCRIPTION ESTIMATED PSF

OPERATING EXPENSES

TAXES (1.125%) $10,000 $5.96

INSURANCE $1,000 $0.59

UTILITIES $3,200 $1.90

REPAIRS & MAINTENANCE $2,800 $1.67

CAPITAL RESERVES/MISC $750 $0.45

TOTAL OPERATING EXPENSES $17,750 $10.59

DEBT SERVICE $41,963 $25.04

TOTAL OCCUPANCY COSTS $59,713 $35.63

MONTHLY OCCUPANCY COSTS(before tax advantages of ownership) $2.96 PSF

SUMMARY TERMS

LOAN AMOUNT $640,000

LOAN TYPE Conventional

RATE $4.75%

AMORTIZATION 25 Years

DUE 20 Years

MONTHLY $3,496.98/Mo.

SALES COMPARISON APPROACH ESTIMATED ANNUALIZED | USER OCCUPANCY COSTS

LOAN ASSUMPTIONS - CONVENTIONAL FINANCING

USER OCCUPANCY COSTS


Stadium-Adjacent Housing

Two apartment buildings “inspired by high-design boutique hotels”—is scheduled

to open in late 2020 or early 2021. In total, phase one will offer 314 apartments

ranging from studios to three-bedroom units,


TENANT SQ. FT. RENT PSF LEASE TERM LEASE TYPE OPTIONS TO RENEW

German AutoRepair 1,676 SF $5,000 $2.98 MTM Modified Gross None

Monthly 1,676 SF $3.42

Annual

RENT ROLL - CURRENT

Note: Seller to deliver property vacant at close of escrow


RAMS & CHARGERS STADIUM - 0.8 MILES FROM SUBJECT PROPERTY


SECTION 2 | PRO

PERTY INFO

RMATIO

NCURRENT CONSTRUCTION


PLAT MAP


AERIAL

SUBJECT PROPERTY670 S LA BREA AVE., INGLEWOOD, CA 90301

S L

A B

RE

A A

VE

72’

4,688 SFLOT

81.57’

E TAM

ARACK AVE

100’

128.

22’


PROPERTY PHOTO


REAR ALLEY


ARTICLE 9. “C-S” COMMERCIAL SERVICE ZONE REGULATIONS

3/25/19, 3)30 PMArticle 9. “C-S” COMMERCIAL SERVICE ZONE REGULATIONS

Page 1 of 2http://www.qcode.us/codes/inglewood/view.php?topic=12-9&showAll=1&frames=on

Inglewood Municipal CodeUp Previous Next Main Collapse Search Print No Frames

CHAPTER 12 PLANNING AND ZONING

Article 9. “C-S” COMMERCIAL SERVICE ZONE REGULATIONS

Section 12-26. C-S Zone. Permitted Uses.

The following uses shall be permitted in the C-S Commercial Service Zone unless otherwise provided in thisChapter. (1) Any use permitted in the C-2 zone except convalescent or retirement homes, group homes, orphanages,half-way houses, fraternities or sororities. (2) Automobile sales (new and used), including automobile auction houses. (3) Automobile servicing and repair (including painting, body and fender work) subject to Section 12-16.6and when conducted within a fully enclosed building that has no openings (doors or windows) within twenty-fivefeet of any property zoned R-1, R-1 1/2, R-2, or R-3. (4) Automobile rental and leasing (including limousines) and nonambulatory transportation uses, subject to allthe following conditions: (a) A rental or leasing office open to the public shall be maintained on the premises: the storage ofautomobiles without such office is prohibited. (b) The rental, leasing or storage of trucks, trailers, inoperable vehicles and/or buses is prohibited. (c) Only minor, incidental servicing of automobiles and nonambulatory vehicles is permitted on the premisesand only when conducted within a fully enclosed building. (d) The site shall be improved and maintained per the parking lot requirements of Article 19 of this Chapter. (5) Automobile glass shop. (6) Battery shops. (7) Boat and marine sales and services, but not to include manufacturing or the testing of hydroplanes orsimilar equipment. (8) Car wash. (9) Carburetor repair shop. (10) Motorbike or motorcycle sales and service but not to include dyno or similar testing equipment. (11) Mobile home sales (including campers). (12) Radiator shop. (13) Radio repair. (14) Tire sales and service. (15) Trailer sales. (16) Truck sales and service. (17) Bath houses, Turkish baths, massage parlors, acupressure establishments and similar uses, subject toSpecial Use approval. (18) Adult-oriented businesses subject to the conditions of Article 24.1 of this Chapter.


ARTICLE 9. “C-S” COMMERCIAL SERVICE ZONE REGULATIONS - (CONTINUED)



Inglewood Municipal CodeUp Previous Next Main Collapse Search Print No Frames

CHAPTER 12 PLANNING AND ZONING

Article 9. “C-S” COMMERCIAL SERVICE ZONE REGULATIONS

Section 12-26. C-S Zone. Permitted Uses.

The following uses shall be permitted in the C-S Commercial Service Zone unless otherwise provided in thisChapter. (1) Any use permitted in the C-2 zone except convalescent or retirement homes, group homes, orphanages,half-way houses, fraternities or sororities. (2) Automobile sales (new and used), including automobile auction houses. (3) Automobile servicing and repair (including painting, body and fender work) subject to Section 12-16.6and when conducted within a fully enclosed building that has no openings (doors or windows) within twenty-fivefeet of any property zoned R-1, R-1 1/2, R-2, or R-3. (4) Automobile rental and leasing (including limousines) and nonambulatory transportation uses, subject to allthe following conditions: (a) A rental or leasing office open to the public shall be maintained on the premises: the storage ofautomobiles without such office is prohibited. (b) The rental, leasing or storage of trucks, trailers, inoperable vehicles and/or buses is prohibited. (c) Only minor, incidental servicing of automobiles and nonambulatory vehicles is permitted on the premisesand only when conducted within a fully enclosed building. (d) The site shall be improved and maintained per the parking lot requirements of Article 19 of this Chapter. (5) Automobile glass shop. (6) Battery shops. (7) Boat and marine sales and services, but not to include manufacturing or the testing of hydroplanes orsimilar equipment. (8) Car wash. (9) Carburetor repair shop. (10) Motorbike or motorcycle sales and service but not to include dyno or similar testing equipment. (11) Mobile home sales (including campers). (12) Radiator shop. (13) Radio repair. (14) Tire sales and service. (15) Trailer sales. (16) Truck sales and service. (17) Bath houses, Turkish baths, massage parlors, acupressure establishments and similar uses, subject toSpecial Use approval. (18) Adult-oriented businesses subject to the conditions of Article 24.1 of this Chapter.



(19) Escort, dating, and introduction services subject to approval by the Permits and License Committee and thegranting of a Special Use Permit by the Planning Commission or the City Council. (20) Trade school teaching body and fender work and automobile painting subject to the provisions ofsubsection (3) above, and subject to Special Use Permit approval. (21) Mortuaries. Mortuaries shall be subject to Special Use Permit approval when adjacent to a residentially-developed or residentially-zoned property.(Ord. 87-7 5-19-87; Ord. 96-17 9-10-96; Ord. 98-28 12-15-98; Ord. 01-14 10-2-01; Ord. 02-21 6-11-02; Ord.04-22 9-28-04; Ord. 11-03 4-19-11) Section 12-26.1. Building Height.

No building hereafter erected or structurally altered shall exceed six stories or seventy-five feet in height. Section 12-26.2. Yards.

No front, side or rear setbacks shall be required, except as necessary to provide landscaped buffers along streets.(Ord. 1853 2-18-66; Ord. 1957 8-30-68; Ord. 2119 9-1-72; Ord. 2346 7-3-79) Section 12-26.3. Same. Signs.

It shall be unlawful, after the effective date hereof, to erect or structurally alter any sign, or to maintain any signwhich has been erected or structurally altered after said effective date, in the C-S Commercial Service Zone, exceptas permitted in Article 23 of this Chapter. Section 12-26.4. Residential Use Prohibited.

No new residential structure shall be constructed nor any existing residential structure enlarged in the C-S Zone.(Ord. 2346 7-3-79)

View the mobile version.


ARTICLE 9. “C-S” COMMERCIAL SERVICE ZONE REGULATIONS - (CONTINUED)



(19) Escort, dating, and introduction services subject to approval by the Permits and License Committee and thegranting of a Special Use Permit by the Planning Commission or the City Council. (20) Trade school teaching body and fender work and automobile painting subject to the provisions ofsubsection (3) above, and subject to Special Use Permit approval. (21) Mortuaries. Mortuaries shall be subject to Special Use Permit approval when adjacent to a residentially-developed or residentially-zoned property.(Ord. 87-7 5-19-87; Ord. 96-17 9-10-96; Ord. 98-28 12-15-98; Ord. 01-14 10-2-01; Ord. 02-21 6-11-02; Ord.04-22 9-28-04; Ord. 11-03 4-19-11) Section 12-26.1. Building Height.

No building hereafter erected or structurally altered shall exceed six stories or seventy-five feet in height. Section 12-26.2. Yards.

No front, side or rear setbacks shall be required, except as necessary to provide landscaped buffers along streets.(Ord. 1853 2-18-66; Ord. 1957 8-30-68; Ord. 2119 9-1-72; Ord. 2346 7-3-79) Section 12-26.3. Same. Signs.

It shall be unlawful, after the effective date hereof, to erect or structurally alter any sign, or to maintain any signwhich has been erected or structurally altered after said effective date, in the C-S Commercial Service Zone, exceptas permitted in Article 23 of this Chapter. Section 12-26.4. Residential Use Prohibited.

No new residential structure shall be constructed nor any existing residential structure enlarged in the C-S Zone.(Ord. 2346 7-3-79)

View the mobile version.


Hollywood Park Casino ReevampThe Clippers will be playing in a brand new, 18,500-seat arena starting in 2024.

includes a 26-acre complex with a sports medicine clinic, facilities for community

sports groups, dining and retail spaces, a solar-panel-clad roof, indoor-outdoor

“sky gardens,” team offices, and an outdoor game-viewing area with massive

digital screens.

0.8 MILES FROM SUBJECT PROPERTY


JAY MARTINEZManaging Principal

11846 Ventura Blvd.Suite 140Studio City, CA 91604

Cal BRE: 01367663

CONTACT

C: 310.658.3357P: 818.699.1603F: 818.688.8140

E: [email protected]

DARIN SPILLMANPresident


Cal BRE: 01366902

CONTACT

C: 310.592.8269P: 818.699.1605F: 818.688.8140


MICHAEL CRISWELLBusiness Development


CONTACT

C: 323.559.1936F: 818.688.8140


670 s. la brea avenue inglewood, ca 90301€¦ · 670 s. la brea avenue inglewood, ca 90301 prime...

Documents