6855 n. figueroa street los angeles, ca 90042 · 2020. 1. 6. · 8.5% rent growth over 2017-2018 in...
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6855 N. Figueroa StreetLos Angeles, CA 90042O�ering Memorandum
Presented By:
Andrew Wilkey
Listing Agent
DRE: 01998185
(949) 355-3384
Audubon Center at Debs Park
Otono
Sonomama
Block Party
Heritage Square
Permanent Records
6855 N. Figueroa St. Los Angeles, CA
Location Overview
Neighborhood Description
Location Highlights
Nearby Developments
Local Hotspots
Property Summary
Property Description
Property Details
Photography
Financials
Set Up
Rent Roll
Sales Comparables
Rental Comparables
We sweatthe details,
so you don’t have to.
NeighborhoodOverview
Introducing:
Highland ParkA trend-setting neighborhood
Highland Park is a community just south of Eagle Rock and Pasadena with Mt. Washington,
Cypress Park and Glassell Park neighboring to the east. Of all neighborhoods in Northeast
LA, Highland Park is the most notorious for rapid change and growth. An area once
plagued with questionable characters has now become a pleasant hybrid of legacy
two central hubs of lifestyle and culture in Highland Park. Residents will find gastropubs, art
galleries, music halls, critically acclaimed dining and a burst of nightlife throughout either
street on any given night.
Figueroa has become increasingly desirable after the arrival of the Highland Park Metro
Gold Line Stop. The street is home to legendary venues like Highland Park Bowl, Highland
Park Theater, Masonic Temple, etc. There are endless options within walking distance. The
own little piece of Los Angeles at a fraction of the cost. Average home values in Highland
Park have increased by 5.7% in the last year and are expected to continue rising as millennials
keep puring in. Several large development/improvement projects are expected to hit the
area in the next few years, making it an attractive area to investors seeking value where
nobody else is looking.
LocationHighlights
1416 Havenhurst Dr.
1403 N. Laurel Ave.
Home prices in Highland Park haveappreciated nearly 9% over 2016 prices.
$90,000 average household incomewithin 3-mile radius bodes well forapartment fundamentals
New construction townhomes selling outfor over $900K on Figueroa, a few blocksfrom the subject property
8.5% rent growth over 2017-2018 inHighland Park
Single-family home prices in HighlandPark exceeding that of Greater LA forthe first time
The Metro Gold Line stop four blocksaway provides access into DTLA within15 minutes
NearbyDevelopments 1414 Eaton Street
Four single-family homes
4328 N. Eagle Rock Blvd.
45 small lot homes
118 South Avenue 50
24 small lot homes
4201 N. Figueroa Street
16,000 SQ FT mixed use space
229 East Avenue 39
100 Condominiums
1118 Avenue 56
20 single family homes
6040 Figueroa Street
43,000 SF mixed use space
5015 N. Figueroa Street
20,000 SF o�ce & retail space
5109 Echo Street
24 small lot homes
5109 Echo St.5105 N. Figueroa St.
4328 N. Eagle Rock Blvd. 118 Avenue 56
1414 Eaton Street 118 S. Avenue 50
Rental Comps Map 1) 8535 N W Knoll Dr.
3) 1420 N. Laurel Ave.
3) 1134 Alta Loma Rd.
4) 1550 N. Laurel Ave.
1346 N. Laurel
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Nearby Developments Map 1) 1414 Eaton St.
4) 4201 N. Figueroa St.
7) 6040 Figueroa St.
2) 4344 Eagle Rock Blvd.
5) 229 E. Avenue 39
8) 5015 N. Figueroa St.
3) 1118 South Avenue 50
6) 1118 Avenue 56
9) 5109 Echo St.
6855 N. Figueroa St.1
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Catch LA
Conservatory Laugh Factory8000 Sunset
Chateau MarmontSUR Restaurant
Sunset Plaza
Local Hotspots Mr. Holmes Bakehouse
Sycamore Grove Park
Cafe Birdie
ETA Highland Park
Highland Park Bowl
Kindness & Mischief
The Greyhound
Checker Hall
Lodge Room
Highland Park MetroStation
Cafe BirdieGreyhound Bar & Grill
Mr. HolmesKindness & Mischief
Highland Park Bowl
Local Hotspots Map
6855 N. Figueroa St.
Neighborhood - LA Metro
Metro Rail
Red LineNorth Hollywood to Union Station
Purple LineWilshire/Western to Union Station
Blue LineDowntown LA to Long Beach
Expo LineDowntown LA to Santa Monica
Green LineRedondo Beach to Norwalk
Gold LineEast Los Angeles to Azusa
Metro Busway
Orange LineChatsworth to North Hollywood
Silver LineSan Pedro to El Monte
6855 N. Figueroa St.
PropertyOverview
Property Description6845, 6849 and 6855 N. Figueroa Street is located in the rapidly
growing Northeast Los Angeles neighborhood of Highland Park
and minutes away from the new LA River Wetlands project. The
of three separate parcels. The land is zoned RD 1.5-1 and will be
delivered with RTI permits to build 8 small-lot townhomes.
- Opportunity to build 8 small-lot homes in Highland Park
- Northeast LA location adjacent to Eagle Rock, Pasadena,
Atwater Village and Glendale
- Minutes away from the LA River Revitalization Project
- Large flat vacant corner lot measuring 13,710 SF
- Triple Lot with (3) APN #’s zoned RD 1.5-1
- Delivered with RTI permits to build 8 small lot town homes
- Total buildable SF is 12,852 (average home size of 1,606 SF)
- Townhomes are 3 story with 2-car garage, balcony and roof
deck
Property Highlights:
Units: Vacant Land
Intersection:Figueroa &Burwood
Market:Highland Park(NELA)
APN: 5554-004-0015486-003-0025486-003-003
Zoning: RD 1.5-1
Lot Size Sq Ft:13,710 SF
Property Summary - Parcel Map
Property Summary | Tract Map
Property Summary | Lot Matrix
Units / Floors LOT 1
431 S.F.
296 S.F.
654 S.F.
632 S.F.
1582 S.F.
64.5%
LOT 2
368 S.F.
360 S.F.
690 S.F.
704 S.F.
1754 S.F.
60.5%
LOT 3
398 S.F.
132 S.F.
567 S.F.
587 S.F.
1286 S.F.
65.1%
LOT 4
418 S.F.
425 S.F.
710 S.F.
747 S.F.
1882 S.F.
64.1%
LOT 5 LOT 6 LOT 7 LOT 8
1st Floor
Residential
1st Floor
Parking
2nd Floor
3rd Floor
Total
Lot Coverage
Grand Total Residential: 12,852 S.F.
398 S.F.
132 S.F.
567 S.F.
587 S.F.
1286 S.F.
64.5%
422 S.F.
425 S.F.
710 S.F.
753 S.F.
1888 S.F.
63.8%
398 S.F.
132 S.F.
567 S.F.
568 S.F.
1286 S.F.
36.3%
422 S.F.
425 S.F.
710 S.F.
753 S.F.
1888 S.F.
54.5%
Building Square Feet (Per Zoning)
Property Summary | Site Plan Elevations
Property Summary | Site Plan Elevations
Property Summary | Site Plan Elevations
Property Summary | Site Plan Elevations
Property Summary | First Floor Plan
Property Summary | Second Floor Plan
Property Summary | Third Floor Plan
Property Summary | Roof Deck Plan
Photography | Aeiral Views
Photography | Aeiral Views
Photography | Aeiral ViewsPhotography | Aeiral Views
Photography | Aeiral Views
Photography | Renderings
Photography | Renderings
Photography | Renderings
Comparables
Address
COE
Sub
Market
Sales PricePer Home
Price / SF
Bldg.
Size
Lot
Size
Stories
Unit
Mix
Comparables | Sales Comps
3540La Clede Ave.
08/11/2017
Atwater Village
$920,000
$511 / SF
1800 SF
2000 SF
3
3 + 3 TH
3116 RiversEdge Ct.
03/27/2018
Atwater Village
$1,020,000
$520 / SF
1958 SF
2178 SF
3
3 + 4 TH
10/04/2018
Silver Lake
$1,048,000
$623 / SF
1681 SF
1640 SF
3
3 + 4 TH
2926 RowenaAve. #6
5103 E. EchoSt.
09/18/2018
Highland Park
$1,025,000
$498 / SF
2,055 SF
1,311 SF
3
3 + 3.5 TH
Echo Park
1631 PrestonLn.
07/27/2018
$1,100,000
$718 / SF
1530 SF
1651 SF
3
3 + 3 TH
6855 N. Figueroa St.
Subject Property
Highland Park
$950,000 - $1,050,000
$600 / SF +
1606 SF (Avg.)
1464 SF (Avg.)
3
3 + 3.5
1346 N. Laurel
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3
42
3
45
1385 Marengo Ave.
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2
4
3
5
07/27/2018
COE
5) 1631 Preston Ln.
Address
Echo Park
Sub-Market
$1,100,000
Avg. Sales Price:$1,022,600
Avg. Price / SF$574
Sales Price
$718 / SF
Price/SF
1530 SF
Bldg.Size
1651 SF
LotSize
08/11/20172) 3540 La Clede Ave. Atwater Village $920,000 $511 / SF 1800 SF 2000 SF 3
10/04/20184) 2926 Rowena Ave. Silver Lake $1,048,000 $623 / SF 1681 SF 1640 SF 3
3
03/27/20183) 3116 Rivers Edge Ct. Atwater Village $1,020,000 $520 / SF 1958 SF 2178 SF 3
09/18/20181) 5103 E. Echo St. Highland Park $1,025,000 $498 / SF 2055 SF 1311 SF 3
Stories
Sales Comparables MapSubject Property: 6855 N. Figueroa Street
6855 N. Figueroa St.
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We sweat the details,
so you don’t have to.
Thank you for the opportunity, welook forward to representing you on this listing.
If you have additional questions, please contact:
Andrew Wilkey
DRE: 01998185
(949) 355-3384