a unique value-add street retail opportunity …...as been selected to exclusively market 850 north...
TRANSCRIPT
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SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
A UNIQUE VALUE-ADD STREET RETAIL OPPORTUNITY IDEALLY LOCATED ON A SIGNALIZED CORNER IN THE
GENTRIFYING SUB-MARKET OF EAST HOLLYWOOD IN AN OPPORTUNITY ZONE AND A TIER 3 TOC
Situated in a QUALIFIED OPPORTUNITY ZONE
850 N. Vermont Avenue, Los Angeles, CA 90029
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INVESTMENT ADVISORS:
BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) [email protected]: CA #01434685www.BrandonMichaelsGroup.com
G R O U P
BRANDON MICHAELS
SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
16830 Ventura Blvd. Suite 100, Encino, CA 91436www.marcusmillichap.com
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICE
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corpora-tion of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
ANDREW LEFFFirst Vice President InvestmentsDirector, National Retail GroupTel: (818) 212-2815Fax: (818) [email protected]: CA #01865688
TEAM MEMBERSSean BrandtVaughn BrownBen BrownsteinNicole CottrellMatthew NoronaSteven SchechterAustin Sreden
TABLE OF CONTENTS
01
04
02
03
PROPERTY OVERVIEW
FINANCIAL ANALYSIS
COMPARABLES ANALYSIS
AREA OVERVIEW
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HOLLYWOOD FW
Y
HOLLYWOOD FW
Y
HOLLYWOOD FWY
HOLLYWOOD FWY
SILVER LAKE BLVD
SILVER LAKE BLVD
N HOOVER STN HOOVER ST SUN
SET
BLVD
SUN
SET
BLVD
NORMAL AVE
NORMAL AVE
SANTA MONICA BLVD
SANTA MONICA BLVD
N VERMONT AVEN VERMONT AVE
CLING
TON
ST
CLING
TON
ST
N VERMONT AVEN VERMONT AVE
LITTLE LITTLE BANGLADESHBANGLADESH
HOLLYWOODHOLLYWOOD
EAST HOLEAST HOLLYWOOLYWOODD
SILVER LAKESILVER LAKE
LOS LOS FELIZFELIZ
CENTRAL LACENTRAL LA
OAKWOODOAKWOOD
BEVERLY BEVERLY HILLSHILLS
BEVERLY BEVERLY GROVEGROVE WEST WEST
HOLLYWOODHOLLYWOOD
MELROSEMELROSE
SUNSET STRIPSUNSET STRIP
EAST HOLLYWOOD • CAEAST HOLLYWOOD • CASituated in a QUALIFIED OPPORTUNITY ZONE
850 N. Vermont Avenue, Los Angeles, CA 90029
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PROPERTY OVERVIEW1
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N VER
MONT AVE
N VER
MONT AVE
N M
AD
ISON
AVE
N M
AD
ISON
AVE
N VIRGIL AVE
N VIRGIL AVE
SANTA MONICA BLVDSANTA MONICA BLVD
SANTA MONICA BLVDSANTA MONICA BLVD
EAST HOLEAST HOLLYWOOLYWOODD
THAI TOWNTHAI TOWN
LITTLE AMENIALITTLE AMENIA
The Brandon Michaels Group of Marcus & Millichap as been selected to exclusively market 850 North Vermont Avenue, ideally located on the northeast corner of North Vermont Avenue and Normal Avenue.
850 N Vermont consists of a 8,588 square foot multi-tenant retail building currently ~65% occupied by tenants on short term or month-to-month leases. This creates an opportunity for an investor to realize immediate upside through making improvements and stabilizing the asset at market rents. The property is situated on 12,632 square-feet of land zoned LAC2 and benefits from Tier 3 TOC incentives. The property is also located within a Qualified Opportunity Zone.
850 North Vermont Avenue is an ideal investment opportunity due to it’s central location and close proximity to some of LA’s most sought after neighborhoods, including Koreatown, Hollywood, Silver Lake, and Echo park. The property benefits from good transit and high walk scores. It is neighboring the Metro’s Vermont/Santa Monica station and 4 blocks north of the 101-Freeway. It is directly across the street from the entrance to Los Angeles City College. The immediate area is benefiting from rapid growth and gentrification, as evidenced by multiple new and upcoming developments nearby.
A UNIQUE VALUE-ADD STREET RETAIL OPPORTUNITY IDEALLY LOCATED ON A SIGNALIZED CORNER IN THE GENTRIFYING SUB-MARKET OF EAST
HOLLYWOOD IN AN OPPORTUNITY ZONE AND A TIER 3 TOCSituated in a QUALIFIED OPPORTUNITY ZONE
850 N. Vermont Avenue, Los Angeles, CA 90029
Situated in a QUALIFIED OPPORTUNITY ZONE
850 N. Vermont Avenue, Los Angeles, CA 90029
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N HELIOTROPE D
R
N HELIOTROPE D
R
N VERMONT AVE
N VERMONT AVE
N EDGEM
ONT ST
N EDGEM
ONT ST
McDonald's
HOLLYWOOD FWY
HOLLYWOOD FWY
DOWNTOWN DOWNTOWN LOS ANGELESLOS ANGELES
CHINA TOWNCHINA TOWN
850 N. Vermont Avenue is located in East Hollywood, on the border of the burgeoning neighborhood of Silver Lake. The neighborhood embodies originality, independence, and creativity. Here, residents will find mellow vibes and discover local cafes and watering holes. Additionally, East Hollywood is ideally situated in the epicenter of some of the most desirable neighborhoods on the east side of Los Angeles – Los Feliz, Hollywood, Korea Town and the revitalized Downtown LosAngeles. 4100 Melrose is just a few blocks away from hip and trendy Sunset Junction, the retail, dining and entertainment hub at the intersection of Sunset and Santa Monica Boulevards. At Sunset Junction, residents have access to a multitude of hip, eclectic selections for dining, shopping and nightlife.
Due to its ideal central location and walkability, residents enjoy unparalleled access to a wide variety of employment, entertainment and cultural experiences that few other neighborhoods in Los Angeles can match. As part of its recent revitalization, East Hollywood continues to set the bar in terms of being a major employment hub and highly sought after location for a younger, trendier clientele looking for the quintessential urban experience. The area is ripe for continued success in attracting a younger, but more affluent demographic.
850 N. Vermont Avenue enjoys easy access to the major employment hubs of Los Angeles. It is close to the 101 freeway which connects to Downtown andHollywood. Downtown Los Angeles, Hollywood, and Los Feliz are just moments away.
EAST HOLLYWOOD IS A GENTRIFYING LOS ANGELES COUNTY SUB-MARKET BORDERED BY CELEBRITY-EMBEDDED HOLLYWOOD, SUPER-
CREATIVE SILVER LAKE, AND LA’S BIG-BUSINESS DOWNTOWNSituated in a QUALIFIED OPPORTUNITY ZONE
850 N. Vermont Avenue, Los Angeles, CA 90029
Situated in a QUALIFIED OPPORTUNITY ZONE
850 N. Vermont Avenue, Los Angeles, CA 90029
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STRONG EAST HOLLYWOOD SIGNALIZED CORNER LOCATION
DENSELY POPULATED EAST HOLLYWOOD SUBMARKET UNDERGOING SIGNIFICANT EXPANSION
VALUE-ADD OR OWNER-USER OPPORTUNITYUNIQUE FUNDAMENTALS CREATE A DEVELOPMENT OPPORTUNITY WITHIN AN OPPORTUNITY ZONE AND A TIER 3 TOC
• NE signalized corner of Vermont Avenue and Normal Avenue
• Direct access to the 101 Freeway and close proximity to Hollywood, K-Town, Silver Lake, DTLA
• Significant redevelopment in the immediate area
• Excellent visibility and frontage
• Centralized location within close proximity to transit and the interstate 101 Ventura Freeway
• Average household income north of $60,544 within a one-mile radius
• Over 1,133,727 people within 5 miles
• More than 26,683 households within 1 mile of the subject property
• Home to a mix of local and national retailers, local eateries, nightlife/entertainment options
• Situated directly across the street from the entrance to LACC
• Nearly 8,600 square feet of existing retail on M2M leases offering immediate upside or owner-user flexibility
• 12,854 square-feet of land
• 15 parking spaces in the rear of the property
• Excellent visibility and frontage along Vermont Avenue
• Units average 1,900 SF which are easily leasable with minimal costs
• High daily traffic counts north of 44,016 vehicles per day
• Walker’s paradise with a walk score of 91 out of 100
• Significant growth projections with an average population age of 37
• Tier 3 TOC
• Opportunity Zone
• Walking distance to Vermont/Santa Monica metro station
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PROPERTY HIGHLIGHTS
INTEREST OFFERED:
100% fee simple interest in 850 N. Vermont Avenue, a 8,588 SF retail building located on 4,963 SF of land in Los Angeles, CA 90069.
TERMS OF THE SALE:
Property is being offered on a free and clear basis.
PROPERTY TOURS:
Prospective purchases are encouraged to visit the site and review all due diligence materials prior to submitting offers. Access to an outline due diligence is available portal. All property tours must be coordinated through the listing team.
ADDRESS: 850 N. Vermont AvenueLos Angeles, CA 90029
PRICE: $4,700,000
BUILDING SF: 8,588 SF
LAND SF: 12,854 SF
PRICE/SF (BUILDING): $547
PRICE/SF (LAND): $366
CURRENT CAP RATE: 1.28%
PRO FORMA CAP RATE: 4.69%
TOC: Tier 3
ZONING: LAC2
OPPORTUNITY ZONE: Yes
APN NUMBER: 5539-010-021
Situated in a QUALIFIED OPPORTUNITY ZONE
850 N. Vermont Avenue, Los Angeles, CA 90029
14 1514 15
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SITE
The subject property is located on the northeast corner of N. Vermont Avenue and Normal Avenue.
SQUARE FOOTAGES
The total building square footage is 8,588 SF. The total land square footage is 12 ,854 SF.
PARKING SPACES
15 free surface spaces are available. The parking ratio is 1.75/1,000 SF.
APN NUMBER / ZONING
The APN number is 5539-010-021. The zoning is LAC2.
TOC / OPPORTUNITY ZONE
The property is located within a Tier 3 TOC in an Opportunity Zone
WALK SCORE
The property has a walk score of 91 out of 100.
91WALK SCORE
PROPERTY DETAILS
15PARKING SPACES
44,016TRAFFIC COUNTS ALONG
N VERMONT AVE
16 17
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The Opportunity Zone program was created to stimulate private investment in Opportunity Zone communities in exchange for capital gain tax incentives. Instead of dedicating taxpayer money to developing thousands of low-income census tracts across the US, this program
aims to stimulate the investment of the estimated $6.1 trillion of unrealized private gains held by US households. In exchange for investing in communities within Qualified Opportunity Zones, investors can access capital gains tax incentives both immediately and over the long term.
Unlike existing programs designed to encourage private investment in low-income areas through tax advantages, the Opportunity Zone program is less restrictive, less costly, and less reliant upon government agencies to function. Existing programs, such as the New Markets Tax Credit (NMTC) Program and Low Income Housing Tax Credit (LIHTC) Program, are more limited in supply and subject to annual Congressional approval and/or tax credit allocation authority. Because the tax credit system limits the number of credits issued each year, it inherently limits the number of investors who can participate, and therefore the amount of money that can be invested into the development of a community under the program.
The designation of Opportunity Zones is designed to help spur the development of identified communities. In exchange for investing in Opportunity Zones, investors can access capital gains tax incentives available exclusively through the Opportunity Zone program. To access these tax benefits, investors must invest in Opportunity Zones specifically through Opportunity Funds. Opportunity Funds can only invest in the construction of new buildings and the substantial improvement of existing unused buildings. If an Opportunity Fund invests in the improvement of an existing building, it must invest more in the improvement of the building than it paid to buy the building. Whether the building is constructed from the ground up or improved, the development of the building must be completed within 30 months of purchase.
In exchange for following the rules of the Opportunity Zone program and investing in Qualified Opportunity Zones through Qualified Opportunity Funds, investors can receive substantial capital gain tax incentives immediately and over the long term.
When an investor divests an appreciated asset, such as stocks or real estate, they realize a capital gain, which is a taxable event. Under the Opportunity Zone Program, if an investor reinvests a qualifying capital gain into an Opportunity Fund, they can defer and reduce their tax liability on that gain. Beyond that, they can also potentially receive tax-free treatment for all future appreciation earned through the fund. Together, these tax incentives can boost after-tax returns for Opportunity Fund investors.
• Those who invest realized capital gains into a Qualified Opportunity Fund can defer paying capital gains tax for those earnings until April 2027 for investments held through December 31, 2026. Gains must be invested in a Qualified Opportunity Fund within 180 days in order to qualify for any tax treatment available under the Opportunity Fund program.
• Those who hold their Opportunity Fund investments for at least five years prior to December 31, 2026, can reduce their liability on the deferred capital gain principal invested in the Opportunity Fund by 10%. If the investment is held for a minimum of seven years prior to December 31, 2026, the tax liability can be reduced by 15% total.
• Those who hold their Opportunity Fund investment for at least 10 years can expect to pay no capital gains taxes on any appreciation in their Opportunity Fund investment. That’s because Opportunity Fund gains earned from Opportunity Zone investments can qualify for permanent exclusion from the capital gains tax if the investment if held for at least 10 years.
Tax Benefits of Qualified Opportunity Funds
Sale ofProperty
Gain from Prior-Sale is Deferred
10% Basis Step-Up on
Deferred-Gain
5% Basis Step-Up on De-
ferred-Gain
Basis Step-Up to FMV
of QOF
180 Days Prior to QOFInvestment
PriorInvestment
Gain Reinvest-ed into QOF
QOFInvestment
+5 Years
QOFInvestment
+7 Years
QOFInvestment10+ Years
No Capital Gains When Opportunity Funds are Held for at Least 10 Years
20262019 2020 2021 2022 2023 2024 2025 2027 2028 2029
YEAR 72026
Tax on original capital gain is reduced by
anothe 5%(15% total reduction)
YEAR 102029
All capital gains taxes are now eliminated on potential points from
Opportunity Fund
YEAR 12019
Rollover gain intoOpportunity Fund( defer tax on gain)
YEAR 52024
Tax on original capital gain is
reduced by 10%
APRIL 15,2027
Pay taxes on original deferred
capital gains (minus 15% reduction)
California’s 2018 Strategy
Goal: Build an equitable and sustainablepipeline of investment projects
State InterAgency OZ Work Group and Web Portal
Local Project Predevelopment
Activity
CatalyticFoundation
Support
Community Partnerships and
Roundtables
OZ Project Pipeline: Key Anchors
Local Economic Ecosystems and
Strategies
Existing State and Local Project and Planning Invest-
ments
Community Anchors: Ed’s and
Med’s, Schools, Utilities, Work-force, Entrepre-
neurs, etc.
Project Preparation, Planning, Public Engagement
California’s OZ Pipeline State “Dealbook”
OP ZoneFunds
OP ZoneFunds
OP ZoneFunds
OPPORTUNITY ZONE
18 19
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FINANCIAL ANALYSIS2
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ADDRESS TENANT SF SF % LEASE EXPIRATION INCREASES OPTIONS RENT RENT/SF PRO FORMA RENT
PRO FORMA RENT/SF
850 Vacant 2,900 34% $6,525.00 $2.25
852 Billiards 2,900 34% 6/30/2020 Next $5,575 1-1 Year $5,450.00 $1.88 $6,525.00 $2.25
854 Hana Kitchen 1,350 16% 11/30/2021 3% 2-5 Year $2,875.00 $2.13 $3,037.50 $2.25
856 Tattoo 1,350 16% $3,100.00 $2.30 $3,037.50 $2.25
TOTAL 8,500 100% - - - $11,425.00 $1.34 $19,125.00 $2.25
INCOME AND EXPENSE CURRENT PRO FORMA
Scheduled Lease Income $137,100 $229,500
NNN Charges $76,785
Effective Gross Income $137,100 $306,285
Vacancy 4% $9,180
Expenses $76,785 $76,785
Net Operating Income $60,315 $220,320
ADDRESS: 850 N. Vermont AvenueLos Angeles, CA 90029
PRICE: $4,700,000
BUILDING SF: 8,588
PRICE/SF: $547
LAND SF: 12,854
PRICE/SF (LAND): $366
CURRENT CAP RATE: 1.28%
PRO FORMA CAP RATE: 4.69%
EXPENSE BREAKDOWN PER YEAR PER SF
Taxes @1.25% $58,750 $6.84
Insurance $5,153 $0.60
Utilities $4,723 $0.55
Repairs & Maintenance $4,294 $0.50
Trash $1,718 $0.20
Reserves $2,147 $0.25
Net Operating Income $76,785 $8.94/$0.75
RENT ROLL
OPERATING DATA
PRICING
FINANCIAL ANALYSIS
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COMPARABLES ANALYSIS3
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SALES COMPARABLESADDRESS PRICE BUILDING
SFPRICE/SF
(BLDG) LAND SF PRICE/SF (LAND) ZONING SALES DATE
1 4015-4029 Beverly BlvdLos Angeles, CA 90004 $2,450,000 6,043 $405.43 6,499 $376.98 LAC2 06/24/2019
24906, 4910, 4918-4926 Santa Monica BlvdLos Angeles, CA 90029
$6,400,000 10,872 $588.47 18,722 $341.84 C2, Los Angeles 09/27/2019
3 611-615 N Virgil AveLos Angeles, CA 90004 $4,125,000 6,505 $634.13 13,835 $298.16 C2* 08/05/2019
4 700 N Virgil AveLos Angeles, CA 90029 $5,250,000 5,676 $924.95 16,868 $308.28
C2-2, Los
Angeles06/28/2019
5 632 N Western AveLos Angeles, CA 90004 $4,200,000 7,926 $529.90 8,712 $482.09 LAC2 06/19/2019
6 737-747 N Western AveLos Angeles, CA 90029 $6,000,000 12,910 $464.76 20,804 $288.41 C4 12/17/2019
7 641 N Western AveLos Angeles, CA 96064 $4,000,000 7,552 $529.66 12,197 $327.95 C2 11/19/2019
AVERAGE $4,632,143 8,212 $582.47 13,948 $346.24 - -
$582AVG PRICE/SF (BUILDING)
$346AVG PRICE/SF(LAND)
850 N. Vermont Ave
1 4015-4029 Beverly Blvd
2 4906, 4910, 4918-4926 Santa Monica Blvd
3 611-615 N Virgil Ave
4 700 N Virgil Ave
5 632 N Western Ave
6 737-747 N Western Ave
7 641 N Western Ave1
34
5
6
7
SALES COMPARABLES - RETAIL | PRICE/SF (BUILDING)
2
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RENT COMPARABLESADDRESS RENTABLE SF SF LEASED RENT/SF/YR RENT/SF/MON LEASE START LEASE TYPE
1 5118-5128 Santa Monica BlvdLos Angeles, CA 90029 10,000 1,320 $34.20 $2.85 Jan 2020 MG
2 1131 N Vermont AveLos Angeles, CA 90029 5,882 950 $25.20 $2.10 Dec 2019 MG
3 663-677 N Berendo StLos Angeles, CA 90004 13,616 2,237 $24.00 $2.00 Dec 2019 NNN
4 4906 E Santa Monica BlvdLos Angeles, CA 90029 3,152 3,152 $33.00 $2.75 Nov 2019 NNN
5 4703-4709 Melrose AveLos Angeles, CA 90029 4,018 800 $31.56 $2.63 Oct 2019 NNN
6 4800-4814 Melrose AveLos Angeles, CA 90029 6,577 546 $36.00 $3.00 Oct 2019 NNN
7 4531 Fountain AveLos Angeles, CA 90029 1,856 1,856 $38.76 $3.23 Jul 2019 NNN
8 4122-4136 Beverly BlvdLos Angeles, CA 90004 4,782 700 $25.68 $2.14 Jul 2019 NNN
9 900-904 N Virgil AveLos Angeles, CA 90029 5,554 1,895 $47.40 $3.95 May 2019 MG
AVERAGE 6,160 1,495 $32.87 $2.74 - -
$2.74AVG RENT/SF/MON
$32.87AVG RENT/SF/YR
850 N. Vermont Ave
1 5118-5128 Santa Monica Blvd
2 1131 N Vermont Ave
3 663-677 N Berendo St
4 4906 E Santa Monica Blvd
5 4703-4709 Melrose Ave
6 4800-4814 Melrose Ave
7 4531 Fountain Ave
8 4122-4136 Beverly Blvd
9 900-904 N Virgil Ave
1
3
4
56
7
8
9
RENT COMPARABLES | RENT/SF/MONTH
2
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AREA OVERVIEW4
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EAST HOLLYWOODEast Hollywood is bordered by Celebrity-embedded Hollywood, super-creative Silver Lake, and LA’s big-business Downtown.
Just east of Hollywood and just west of supremely hip Silver Lake, East Hollywood hails from somewhere between LA’s bastion of embedded stars and its outpost for artistic savants. Unpretentious and fastidiously unkempt, East Hollywood boasts neighborhood dive bars, streetside churro stands, and community fairs where sidewalk musicians make all the noise they want. East Hollywood is defined by its diversity—Thai town, Little Armenia, and a strong Hispanic community compose this neighborhood’s distinctive culture.
East Hollywood contains arguably one of the loveliest outdoor spaces in Los Angeles, Barnsdall Art Park. Commissioned by the wealthy and eccentric heiress Alice Barnsdall, the hilltop space has a gorgeous view of downtown and has an arts center, gallery and theater, as well as the Hollyhock House, designed by Frank Lloyd Wright.
AREA OVERVIEW
HO
LLYWO
OD
: 2 MILES
SILVER LAKE: 1.9 M
ILESKO
REATOW
N: 2.7 M
ILESD
TLA: 4 MILES
NOTABLE PLACES• Barnsdall Art Park• Hollyhock House• Vista Theatre• The Braille Institute• West Coast headquarters• Los Angeles City College• Self-Realization Fellowship
• Kaiser Permanente Los Angeles Medical Center• Hollywood Presbyterian Medical Center• Children’s Hospital Los Angeles.
METRO RED LINE850 N. Vermont Avenue is walking distance to the Vermont/Santa Monica station.
The Red Line is a heavy rail subway line running between Downtown Los Angeles
via the districts of Hollywood and Mid-Wilshire to North Hollywood within Los
Angeles where it connects with the Orange Line (bus rapid transit) service for
stations to the Warner Center in Woodland Hills and Chatsworth.
AREA OVERVIEW
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SILVER LAKE RESERVOIR
Away from the cafes and boutiques of Sunset Boulevard, though, the twin reservoirs that give the community its name are a great place to take a stroll, walk the dog, do some bird-watching or have a picnic.
2.4 MILES FROM SUBJECT PROPERTY
SUNSET JUNCTIONMost of the best things to do in Silver Lake are situated along Sunset Boulevard, with Sunset Junction being the closest thing the neighborhood has to a walkable center.
1.1 MILES FROM SUBJECT PROPERTY
BARNSDALL ART PARKThe park contains a 299-seat proscenium space rented at nominal fees to individuals and organizations for live theatre, dance, music, spoken word, lectures, films, and other events.
1.5 MILES FROM SUBJECT PROPERTY
AREA OVERVIEW
Los Angeles City College (LACC) is a public community college in East Hollywood, Los
Angeles. A part of the Los Angeles Community College District, it is located on Vermont
Avenue south of Santa Monica Boulevard on the former campus of the University of California,
Los Angeles (UCLA). From 1947 to 1955, the college shared its campus with California State
University, Los Angeles (Cal State LA) then known as Los Angeles State College of Applied
Arts and Sciences, (LASCAAS) before the University moved to its present campus of 175
acres in the northeastern section of the City of Los Angeles, 5 miles (8 km) east of the Civic
Center. The college facilities include more than a dozen multistory classroom buildings
including a library, computer labs, fitness centers, theatre, and TV/film studios.
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DEMOGRAPHICS
Total Population within a 5-mile radius of 850 N. Vermont Avenue. Median Age: 37
MALE
High School or Less High School Graduate Bachelor’s or Associate Graduate Graduate Degree
FEMALE
1,133,727
51% 49%
52% 23% 19% 6%
EDUCATION
1,133,727Population
within 5-m radius
63,339Businesses
within 5-m radius
$45,890Median HH incomewithin 5-m radius
$72,583Average HH income
within 5-m radius
362,559Renter Occupied Households
within 5-m radius
81,340Owner Occupied Households
within 5-m radius
1 MILE 3 MILES 5 MILES
2019 Population 74,954 548,384 1,133,727
2019 Households 26,683 215,643 443,898
2019 Average Household Size 2.60 2.40 2.40
2019 Median Household Income $41,178 $42,405 $45,890
2019 Average Household Income $60,544 $66,649 $72,583
2019 Owner Occupied Housing Units 3,046 31,369 81,340
2019 Renter Occupied Housing Units 23,638 184,274 362,559
<$25,000 8,133 67,373 136,233
$25,000 - $50,000 7,577 54,884 99,433
$50,000 - $75,000 4,286 32,837 65,555
$75,000 - $100,000 2,675 20,647 44,241
$100,000 - $125,000 1,541 12,952 29,632
$125,000 - $150,000 646 6,913 17,525
$150,000 - $200,000 815 7,904 21,225
$200,000+ 1,010 12,132 30,053
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SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
850 N. Vermont AvenueLos Angeles, CA 90029
BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) [email protected]: CA #01434685www.BrandonMichaelsGroup.com
ANDREW LEFFFirst Vice President InvestmentsDirector, National Retail GroupTel: (818) 212-2815Fax: (818) [email protected]: CA #01865688www.BrandonMichaelsGroup.com