5775west adams

BOULEVARD | LOS ANGELES, CA 90016

WEST ADAM

S BOULEVARD

FAIRFAX AVENUE

executive summary

FAIRFAX AVENUE

Marcus & Millichap has been selected to exclusively market 5775 West Adams Boulevard, ideally located on the northeast corner of West Adams Boulevard and South Genesee Avenue in the West Adams submarket of Los Angeles.

The offering consists of a ~13,924 square-foot lot zoned C2-2D, Tier 3 TOC (“D” limitation requires that new uses and development projects comply with the West Adams CPIO District). 5775 West Adams Boulevard is situated within a qualified Opportunity Zone offering tax benefits for qualified investors.

5775 West Adams Boulevard neighbors a number of high-profile creative/tech hubs such as Blackwelder, Hayden Tract, and the Culver City Arts District. The subject property is also situated just blocks away from the upcoming Cumulus development site, which will include a combined 1,210 apartments and 100,000 square-feet of commercial space.

The neighborhood of West Adams has quickly become one of the most sought-after neighborhoods in Los Angeles. Centrally located between Culver City and Downtown LA, surrounding development and increasing rents has caused nearby residents and businesses to target West Adams, resulting in the rapid improvement and gentrification of the area.

5775 West Adams Boulevard is easily accessible from the 10-Freeway and the La Cienega/Jefferson Metro Expo Line station. The property is currently rented to an auto-repair facility on a month-to-month basis and can be delivered vacant upon the close of escrow.

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address

land sf zoning

asking price price/sf

WEST ADAMS BOULEVARD

FAIRFAX AVENUE

5775 West Adams Boulevard, Los Angeles, CA 90016

$3,200,000 $229.82

13,924 SF C2-2D-CPIOWest Adams CPIO (Subarea: Major Intersections Nodes)Tier 3 TOC

Downtown LA

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investment highlights• Prime West Adams / Culver City Redevelopment Site

• Nearby to Blackwelder, Hayden Tract, Culver City Arts District, Cumulus Mixed-Use Development

• No Long-Term Leases – Can Be Delivered Vacant

• Easily accessible from 10-Freeway & La Cienega/Jefferson Station Metro Expo Line

• Located within a qualified Opportunity Zone

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LOCATION5775 West Adams Boulevard, Los Angeles, CA 90016

SITEThe subject property is located just east of the northeast corner of Fairfax Avenue and W. Adams Boulevard.

SQUARE FOOTAGESThe total land square footage is 13,924 SF.

FRONTAGE AND ACCESS150 feet of frontage on West Adams Boulevard.

POPULATIONOver 1 million people within a 5-mile radius.

APN5048-007-034

property information

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CULVER CITY ARTS DISTRICT

CENTURY CITY

DOWNTOWN CULVER CITY

FUTURE REDEVELOPMENT SITE

FUTURE REDEVELOPMENT SITE

BLACKWELDER CREATIVE CAMPUS

CUMULUS DEVELOPMENT SITE

1,218 Residential Units200,000 SF of Creative Office50,000 SF Grocery Store30,000 SF Retail20,000 Restaurant

NikeApple’s BeatsWild Card MediaAnonymous ContentSmashbox

MandrakeBlum & PoeThinkspace GalleryFather’s OfficeCoolhausRoberts & TiltonWalter MacielHELMS BakerySamuel Freeman

FAIRFAX AVENUE

WEST ADAMS BOULEVARD

5775west adams

BOULEVARD | LOS ANGELES, CA 90016

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BEVERLY HILLS

KAISER PERAMENTE WEST LA MEDICAL CENTER

5775 West Adams

Boulevard neighbors a

number of high-profile

creative/tech hubs such as

Blackwelder, Hayden Tract,

and the Culver City Arts District.

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FAIRFAX AVENUE

WEST ADAMS BOULEVARD8

5775west adams

BOULEVARD | LOS ANGELES, CA 90016

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nearby development

IVY STATION THE CULVER STEPS• 5.2 acre urban infill property immediately adjacent to

the Metro Expo Culver City light rail station• 200,000 SF, 5-story office building• 200 apartments• 148-room boutique hotel• 55,000 SF of retail & restaurant space• 2+ acres of open space with varied programming for

community, residents & guests• Over 1,500 parking spaces including 300 dedicated for

Metro riders• Transit & Mobility: Metro bike hub, new bike lanes and

traffic signal on widened National Blvd., access to 12 bus lines & bicycle routes

Situated between The Culver Studios and The Culver Hotel, The Culver Steps offers tenants a primetime location in the Heart of Screenland. It’s a one-of-a-kind opportunity for morning-to-night commerce, every day of the week—and hundreds of thousands of affluent customers are waiting.

It will hold 75,000 square feet of offices above 40,000 square feet of retail and restaurant space, plus a 35,000-square-foot public plaza.

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5775 West Adams Boulevard

Cumulus Development

Located on an 11.19-acre site in the city of Los Angeles. The project is comprised of one 7-story podium building and a 30-story high rise, as well as 100,000 square feet of retail.

The podium features 24-hour concierge service, 3,600 square feet of co-working space, and a 1-acre public park plaza. 100,000 square feet of landscaped courtyards showcase multiple viewing decks and expansive outdoor social areas featuring a resort style pool and spa.

The tower boasts a roof top deck with multiple seating areas and sweeping view of Los Angeles. The sixth-floor amenity deck features a pool and spa as well as a large indoor-outdoor amenity space with recreational lounges and private event rooms.

CUMULUS

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area overview

WEST ADAMSNestled between Culver City and Downtown Los Angeles, trendy West Adams / Jefferson Park / Jefferson Park is a highly-sought after neighborhood located in the city of Los Angeles, California. The West Adams submarket is approximately 1.48 square miles– averaging roughly 14,686 people per square mile places West Adams / Jefferson Park among the highest population densities in all of Los Angeles.

West Adams / Jefferson Park is one of the oldest neighborhoods in the city of Los Angeles, with most of its buildings developed between 1880 and 1925. West Adams / Jefferson Park is known for the once-upper-crust district of old Victorian mansions. This neighborhood has been through a large gentrification in the past few years. With the upward real estate demand growth and prices, many of these old mansions have been given the historic designation. With this gentrification comes the ever-changing demographics of West Adams/ Jefferson Park. Single family residences are quickly snapped off the market by businessmen/businesswomen who work in Downtown Los Angeles or on the Westside, artists, writers, performers, teachers, or any individual who is looking to live in Los Angeles and have access to both the Westside and Downtown Los Angeles.

EMPLOYMENTThe population over age 16 in the labor force is currently estimated at 189,529. The employment status of this labor force is as follows: 95.2% are employed and 4.8% are unemployed. The United States population over age 16 in the labor force is currently estimated at 165,926,168. The employment status of this labor force is as follows: 95.2% are employed, 4.8% are unemployed. The following occupational categories are for the employed population in this area: 14.7% are in management, business, and financial; 25.4% are in professional and related; 22.8% are in service occupations; 22.5% are in sales and office; 6.2% are in natural resources, construction, and maintenance; 8.3% are in production, transportation, and material moving.

The occupation estimates for the employed population in the United States are as follows: 14.6% are in management, business, and financial; 22.3% are in professional and related; 18.4% are in service; 23.8% are in sales and office; 9.0% are in natural resources, construction, and maintenance; 12.0% are in production, transportation, and material moving. United States are as follows: 14.6% are in management, business, and financial; 22.3% are in professional and related; 18.4% are in service; 23.8% are in sales

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HOUSING24.9% of housing units in the area are estimated to be owner-occupied for the current year. 56.0% of the housing units in the United States are owner occupied. The largest segment of the dwellings in this area are estimated to be structures of 1 Unit -Detached, accounting for 25.9% of structures in the area for the current year. Most of the structures in the United States are 1 Unit-Detached accounting for 61.6% of structures for the current year.

The largest segment of housing units in this area are estimated to have been built 1950-1959, accounting for 14.2% of structures. The largest segment of housing units in the United States are estimated to have been built 1970-1979 for the current year accounting for 15.6% of structures.

1 Mile 3 Miles 5 Miles

2010 Population 39,499 326,144 992,2182014 Population 40,475 336,718 1,026,1742019 Population 40,364 340,044 1,034,4292010 Households 13,272 136,420 408,0132014 Households 13,812 142,972 428,4642019 Households 13,866 145,094 434,4642014 Average Household Size 2.90 2.33 2.362014 Daytime Population 12,552 157,112 517,3752014 Owner Occupied Housing Units 40.29% 31.16% 29.61%2014 Renter Occupied Housing Units 59.71% 68.84% 70.39%2014 Vacant 1.98% 2.67% 2.70%2019 Owner Occupied Housing Units 40.05% 31.00% 29.53%2019 Renter Occupied Housing Units 59.95% 69.00% 70.47%2019 Vacant 1.76% 2.56% 2.55%$ 0 - $14,999 17.9% 15.3% 17.0%$ 15,000 - $24,999 12.9% 10.8% 12.3%$ 25,000 - $34,999 11.9% 9.9% 10.6%$ 35,000 - $49,999 16.6% 13.1% 13.1%$ 50,000 - $74,999 17.1% 16.6% 15.8%$ 75,000 - $99,999 8.6% 10.3% 9.4%$100,000 - $124,999 6.2% 7.4% 6.9%$125,000 - $149,999 2.8% 4.3% 3.9%$150,000 - $199,999 3.6% 5.4% 4.5%$200,000 - $249,999 0.8% 2.5% 2.3%$250,000 + 1.6% 4.6% 4.3%2014 Median Household Income $40,861 $51,326 $46,1512014 Per Capita Income $20,343 $36,068 $33,4482014 Average Household Income $59,377 $84,517 $79,561

DEMOGRAPHICS

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CULVER CITY ARTS DISTRICTThe Culver City Arts District encompasses more than 35 contemporary art galleries, 25 boutique and design retailers and 17 specialty restaurants and coffee bars. It is also home to creative enterprises such as architecture, advertising, culinary arts, post production and interior design. Located on Washington Boulevard between Helms and Fairfax Avenues as well as La Cienega Blvd. between Venice and Fairfax Avenue it is easily accessible by both the Culver City and La Cienega Expo Stations.

Notable places of interest include Cognoscenti Coffee, Coolhaus for icecream, Father’s Office, which is home to celebrty chef Sang Yoon’s famous burger, and Industry Cafe and Jazz for Ethiopian fare.

COGNOSCENTI COFFEE

THE MANDRAKE

BAR & GARDEN

BRUNELLO TRATTORIA

PINCHES TACOS

COOLHAUS

area overviewNOTABLE EMPLOYERS IN CULVER CITY

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WEST ADAM

S BOULEVARD

FAIRFAX AVENUE

ANDREW LEFFSenior AssociateTel: (818) 212-2815Fax: (818) 212-2710andrew.leff@marcusmillichap.comLicense: CA: 01865688

INVESTMENT ADVISOR