7243-7249 atoll ave. north hollywood, ca 91601 · 7243-7249 atoll street features a multi-tenant...

7243-7249 ATOLL AVE.NORTH HOLLYWOOD, CA 91601

OFFERING MEMORANDOM

OWNER-USER OPPORTUNITYINDUSTRIAL

TABLE OF CONTENTS

SECTION ONE 04EXECUTIVE PROFILE

SECTION TWO 10PROPERTY INFORMATION

©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.

This Memorandum (“Offering Memorandum”) has been prepared by Hudson Commercial Partners, 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 Commercial Partners, 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 Commercial Partners 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 Commercial Partners, Inc. reserves the right to request the return of any or all of the information enclosed.

SECTION 1 | EXECU

TIVE OVERVIEW

NORTH HOLLYWOOD WEST DEVELOPMENT

6150 Laurel Canyon Blvd.

The former Laurel Plaza shopping center at 6150 Laurel Canyon Boulevard

as a mixed-use complex with a mix of low-rise and mid-rise buildings. Plans call

for three-to-six-story structures on a current parking lot, resulting in 742 residen-

tial units and 190,000 square feet of retail and restaurant space. Proposed

commercial uses include a gym, a supermarket, and a multiplex supermarket.

HUDSON COMMERCIAL PARTNERS, INC. - 76 -HUDSON COMMERCIAL PARTNERS, INC.

PROPERTY DESCRIPTION

site description Physical description

PROPERTY INFORMATION

DESCRIPTION SPECIFICATION

BUILDING SIZE 11,027 SF

PARCEL AREA 18,400 SF

APN 2327-002-009

NUMBER OF FLOORS 1

FLOOR-TO-AREA RATIO 0.60

ZONING LAM2

PARKING TBD

PARKING RATIO TBD

YEAR BUILT 1950

TENANCY Multi-Tenant

DESCRIPTION SPECIFICATION

CONSTRUCTION TYPE Frame-Stucco

FOUNDATION Reinforced Concrete

FIRE PROTECTION TBD

HVAC TBD

RESTROOMS Yes

CROSS STREET Atoll Ave & Sherman Way

HIGHWAY ACCESS 5, 101, 118 & 170 Freeway

LOT DIMENSIONS 115’ x 150’

STREET FRONTAGE 115’ on Atoll Ave

PROPERTY DESCRIPTION

7243-7249 Atoll Street features a multi-tenant industrial building consisting of two buildings on one parcel with secured gated parking. Constructed in 1950-1953 and fully renovated in 2018. Building one(1) is approximately 7,880 SF f industrial and Building 2 is 3,147 SF. Property provides immediate opportunity for an owner user to occupy approximately 55% of the building while receiving supplemental income from the current tenants. Furthermore the subject property provides an immediate income stream to an owner operator which allows an owner to reduce their occupancy cost. In addition, an owner user has the flexibility of occupying up to 100% as the remaining short duration leases expire.

Building improvements include the following:• New exterior roll up doors and fire rated metal doors• New stucco and paint• New windows• New cutters and down spouts• Roof has been repaired and serviced• New ventilation vents and swamp coolers• All new cooper plumbing for the larger L shaped building• The interior of the smaller building has been redone• New asphalt overlay and re-striped parking lot• Side chain linked fence has been replaced with a new concrete block wall

Now is the time to take advantage of the market and protect your business from future rental market spikes. Rather than paying rent to a landlord or investing your money in an alternative investment, your rent will pay off the property mortgage and provide a more attractive after-tax return. Current SBA rates are at 3.25%-3.5%.


ASSUMED ANNUAL APPRECIATION RATE OF: 3.0%BORROWER DOWN PAYMENT (10%): $330,000

Year 5

Year 10

Year 15

Year 20

SUMMARY TERMS

PRICE $3,300,000

DOWN PAYMENT (10%) $330,000

BUILDING SIZE 11,027 SF

PRICE PER FOOT ON BUILDING $299,27

LOT SIZE 18,400 SF

PRICE PER FOOT ON LAND $179.35

YEAR BUILT 1950

ZONING LAM2

DESCRIPTION ESTIMATED PSF

OPERATING EXPENSES

TAXES (1.192%) $40,260 $3.65 PSF

INSURANCE $2,646 $0.24 PSF

UTILITIES $19,849 $1.8 PSF

REPAIRS & MAINTENANCE $1,323 $0.12 PSF

TOTAL OPERATING EXPENSES $64,078 $5.81 PSF

DEBT SERVICE $176,520 $16.02 PSF

TOTAL OCCUPANCY COSTS $240,598 $21.83 PSF

MONTHLY OCCUPANCY COSTS(before tax advantages of ownership) $20,050 $1.81 PSF

SUMMARY TERMS

LOAN AMOUNT $ 2,970,000

LOAN TYPE SBA

BLENDED SBA RATE SBA Rate

BLENDED AMORTIZATION 22.5 years

SALES COMPARISON APPROACH ESTIMATED ANNUALIZED | USER OCCUPANCY COSTS

NEW LOAN

USER OCCUPANCY COSTS LEASE VS. OWN

PROPERTY SIZE 11,027 SF 11,027 SF

LEASE ASSUMPTIONS: Rent Per Month Rent Per SF

START-UP COSTS:

Prepaid rent and security deposit (2 mo.’s total) Lessee TI costs, net of lessor TI allowance** Total startup costs

GROSS MONTHLY COSTS: Rent payment Lease operating costs** Gross monthly cash cost

LEASE BENEFITS (PER MONTH): Depreciation tax benefit at 35% tax rate Avg. monthly principal paydown | equity build Tax benefit on rent deduction at 35% tax rate Tax benefit on operating costs at 35% tax rate Lease-out income (net of tax at 35% rate)

NET COST AFTER LEASE BENEFITS: Est. appreciation benefit, per month

NET COST AFTER LEASE BENEFITS

PROJECTED RENT COST IN YEAR 10 Net rent cost (after tax benefits at 35% rate) Assumed annual rent escalation

$299$0

$299

$1.33$0.48$1.81

$0.19$0.65$0.24$0.17$0.00

-$0.05$1.20

$0.62$0.75

-$0.13

$16,541

$1.50

$33,081$0

$33,081

$16,541$3,418

$19,959

$0$0

$5,789$1,196

$0$0

$6,986

$12,973$0

$12,973

$16,927

$3,300,000$0

$3,300,000

$330,000$16,500

$5,000$351,500

$14,710$5,293

$20,003

$2,098$7,126$2,654$1,853

$0-$517

$13,213

$6,790$8,250

-$1,460

LEASE SCENARIO OWN SCENARIO PER/SF PER/SFAMOUNT AMOUNT

GROWTH IN PROPERTY VALUE & OWNER EQUITY

Disclaimer: This sample analysis is based on a series of assumptions, including loan interest rates and annual appreciation rates, and is meant only to be illustrative in nature. The analysis is not a guarantee of any actual results of any loan or purchase transaction or ownership of any real property, all of which are subject to risks, uncertainties and assumptions that are difficult to predict and beyond our control. No warranties or representations, express or implied, are made as to the accuracy of the information contained herein, and same is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, withdrawal without notice, prior sale, lease or financing. We include projections, opinions, assumptions or estimates for example only, and they may not represent future performance of the property. You and your financial and legal advisors should conduct your own evaluation of the property and transaction economics.

ANALYSIS LIMITATIONS:THIS ANALYSIS DOES NOT INCLUDE SUPPLEMENTAL INCOME STREAM FROM POTENTIAL

TENANTS - LOWERING OCCUPANCY COSTS SIGNIFICANTLY

Gross Lease

$1.50$0.31$1.81

$0$0

$0.53$0.11$0.00

$0$0.63

$1.18$0.00

$1.18

$1.543.0%

PURCHASE ASSUMPTIONS: Purchase Price Improvements - Additional Total

START-UP COSTS: Borrower cash down payment (10%) Estimated fees on 1st mortgage** Est. appraisal, environmental, other fees** Total startup costs

GROSS MONTHLY COSTS: Mortgage payment Ownership operating costs** Gross monthly cash cost

OWNERSHIP BENEFITS - EXCEL. APPRECIATION (PER MONTH): Depreciation tax benefit at 35% tax rate Avg. monthly principal paydown | equity build Tax benefit on rent deduction at 35% tax rate Tax benefit on operating costs at 35% tax rate Lease-out income (net of tax at 35% rate) Interest on startup cost difference (net of 35% tax)

NET COST AFTER OWNERSHIP BENEFITS EXCEL APPRE: Est. appreciation benefit, per month

NET COST AFTER OWNERSHIP BENEFITS INCL. APPRE:

PROPERTY VALUE

$3,825,604

$4,434,924

$5,141,292

$5,960,167

LOAN BALANCE

$2,587,161

$2,089,365

$1,503,234

$812,985

OWNER EQUITY

$1,238,443

$2,345,559

$3,638,059

$5,147,182


RENT ROLL FLOOR PLAN

1 3 5 8 11

7 10 13 15 17

2 4 6 9 12 14 16

18

7249 Atoll

7243 B

7247 Atoll

7249 Atoll7243 C

7243 B

7243 Atoll

Vacant

7243 ATOLL AVENUEMeasurements are approximate, we make no guarantee, warrenty or representation about

it, It is your responsibility to independently con�rm its accuracy.

Measurements are approximate, we make no guarantee, warrenty or representation aboutit, It is your responsibility to independently conrm its accuracy.

UNIT TENANT & OPERATION SF MONTHLY LEASE START END TERM OPTION TORENEW

Unit A 7243 Office for Total Planning 1,250 SF $1,800.00 06/19

Unit B & C 7243 Adam Frozdz Co Inc. - WoodWork 4,600 SF $5,000.00 03/01/89

Unit A & B 7247 Bad Romantic LLC (Music Recording Studio) 3,150 SF $5,150.00 04/18 04/30/21 3% increase/yr 1 x 2 year

Unit 7249 MedExpress (Medical Supply) 2,020 SF $2,987.00 06/18 01/31/21 3% increase/yr 1 x 4 year

11,020 SF $14,937.00

12 - BROOKFIELD PARTNERS, INC.NORTH HOLLYWOOD METRO STATION

SECTION 2 | PRO

PERTY INFO

RMATIO

N


PLAT MAP AERIAL OVERVIEW


PROPERTY AERIAL PROPERTY EXTERIOR PHOTO


PROPERTY EXTERIOR PHOTO EXTERIOR PHOTO


INTERIOR PHOTOS INTERIOR PHOTOS


LOCATION OVERVIEW

NORTH HOLLYWOOD

is a neighborhood in the San Fernando Valley region of the city of Los Angeles. It is home to the NoHo Arts District and the Academy of Television Arts & Sciences, and it has seven public and eight private schools. There is a municipal park and a recreation center. The neighborhood is an important transportation center, and it is also the place where many notable people have lived or worked.

North Hollywood was established by the Lankershim Ranch Land and Water Company in 1887. It was first named “Toluca” before being renamed “Lankershim” in 1896 and finally “North Hollywood” in 1927. Although named “North Hollywood”, it is not contiguous with its well-known namesake district of Hollywood, and is separated from Hollywood by several neighborhoods and the Santa Monica Mountains.

DEMOGRAPHICS

The 2000 U.S. census counted 77,848 residents in the 5.87-square-mile North Hollywood neighborhood—or 13,264 people per square mile, about an average population density for the city. In 2008, the city estimated that the population had increased to 87,241. In 2000 the median age for residents was 30, considered an average age for city and county neighborhoods; the percentage of residents aged 19 to 34 was among the county’s highest.

The neighborhood was considered “moderately diverse” ethnically within Los Angeles. The breakdown was Latinos, 57.7%; whites, 27%; Asians, 5.7%; blacks, 5.6%; and

others, 4%. Mexico (43.2%) and El Salvador (16%) were the most common places of birth for the 46.4% of the residents who were born abroad—a high percentage for Los Angeles. The percentages of never-married men and never-married women were among the county’s highest.

The median yearly household income in 2008 dollars was $42,791, considered average for the city but low for the county. The percentages of households that earned $40,000 or less were high for the county. Renters occupied 75.4% of the housing stock, and house- or apartment-owners held 24.6%.

GEOGRAPHY

North Hollywood is bordered on the north by Sun Valley and on the northeast and east by Burbank. Toluca Lake borders North Hollywood on the southeast and south, and Studio City abuts it on the southwest. It is flanked by Valley Village and Valley Glen on the west.

EDUCATION

Eighteen percent of North Hollywood residents aged 25 and older had earned a four-year degree by 2000, an average figure for both the city and the county. The percentage of the same-age residents with less than a high school diploma was high for the county.

LOCATION OVERVIEW


LOCATION OVERVIEW - ARTS DISTRICT

The NoHo Arts District is a one-square-mile community in North Hollywood that is home to more than 20 live, professional theatres, dance studios, art galleries, public art, music recording venues, acting and art workshops, international dining options, clothing and specialty shops, and businesses that create a myriad of art forms.

Business and theater owners in the Universal City/North Hollywood Chamber of Commerce established a theater and arts district in 1992 with support from the Los Angeles Department of Cultural Affairs. They chose “NoHo”, a play off the well-known SoHo Arts District neighborhood of New York City.

Today, The NoHo Arts District, in conjunction with

greater North Hollywood, is being transformed into a regional center, in large part as a result of the construction of Metro Stations for the Red Line and the Orange Line, two lines that have made the neighborhood into a regional hub for the San Fernando Valley. Medium- and high-density developments are being built around the Metro Station, making the Arts District a center of citywide development, with the intent of creating a walkable urban village. North Hollywood’s landscape (and the Art’s District as a result) has been transformed in recent years, with condominium towers (including a fifteen-story building on Lankershim Boulevard being built in the midst of older one-story bungalows and small apartment complexes.

NOHO ARTS DISTRICT

HUDSON COMMERCIAL PARTNERS, INC. - 2726 -HUDSON COMMERCIAL PARTNERS, INC.NORTH HOLLYWOOD AT NIGHT

NORTH HOLLYWOOD is a neighborhood in the San Fernando Valley region of the city of Los Angeles. It is home to the NoHo Arts District and the Academy of Television Arts & Sciences, and it has seven public and eight private schools.

There is a municipal park and a recreation center. The neighborhood is an important transportation center, and it is also a place where many notable people have lived or worked.

North Hollywood was established by the Lankershim Ranch Land and Water Company in 1887. It was first named “Toluca” before being renamed “Lankershim” in 1896 and finally “North Hollywood” in 1927. It is not contiguous with Hollywood, being separated by other parts of the San Fernando Valley and the Hollywood Hills.

NO RTH HOLLYWOOD , CA

3 A

REA

OVER

VIEW

• NOHO ARTS DISTRICT - home to contemporary theaters, art galleries, cafes, and shops. The area features more than twenty professional theaters, producing new work and classics, diverse art galleries, public art, and professional dance studios. The district also features the largest concentration of music recording venues west of the Mississippi. A Metro Rail station is located here, the North Hollywood station of the Red Line, and serves as the terminus of the Metro Orange Line busway.

• ACADEMY OF TELEVISION ARTS & SCIENCES - a professional honorary organization dedicated to the advancement of the television industry in the United States. Founded in 1946, the organization presents the Primetime Emmy Awards, an annual ceremony honoring achievement in U.S. primetime television.

In addition to recognizing outstanding programming through its Primetime Emmy Awards, the Television Academy publishes the award-winning emmy magazine and through the Academy of Television Arts & Sciences Foundation, is responsible for the Archive of American Television, annual College Television Awards, Fred Rogers Memorial Scholarship, acclaimed student internships and other educational outreach programs.

• UNIVERSAL STUDIOS - a film studio and theme park. It is one of the oldest and most famous Hollywood film studios still in use. It was initially created to offer tours of the real Universal Studios sets and is the first of many full-fledged Universal Studios Theme Parks located across the world. Woody Woodpecker is the official mascot for Universal Studios Hollywood.

NEARBY ATTRACT IONS

134

134

134

170

170

101

101

NOHO ARTSDISTRICT

TOLUCA WOODS

VALLEY VILLAGE

STUDIO CITY UNIVERSAL CITY

TOLUCA LAKEWARNER

BROS STUDIOS

LAKESIDE GOLF CLUB

SOUTHWEDDINGTON

PARK

NORTHHOLLYWOOD

PARK

BUENAVISTA PARK

NORTH HOLLYWOODHIGH SCHOOL

CAMPBELL HALL SCHOOL

OAKWOOD AT TOLUCA HILLSAPARTMENTS BY AVALON

WARNER BROS STUDIOTOUR HOLLYWOOD

UNIVERSAL STUDIOSHOLLYWOOD

THE WALT DISNEY STUDIOS

UNIVERSAL CITY WALK

PORTO’S BAKERYBURBANK (CUBAN)

LOS ANGELES RIVER

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POPULATION 1 MILE 2 MILES 3 MILES 5 MILES

2016 Population - Current Year Estimate 29,477 100,737 196,533 624,605

2021 Population - Five Year Projection 30,803 105,301 204,259 646,655

AGE 1 MILE 2 MILES 3 MILES 5 MILES

2016 Median Age 37 38 39 38

HOUSEHOLDS 1 MILE 2 MILES 3 MILES 5 MILES

2016 Households - Current Year Estimate 15,496 48,117 87,152 269,464

2021 Households - Five Year Projection 16,092 50,046 90,230 278,020

15

KELLY BETPOLICEManaging Principal

4605 Lankershim Blvd. Suite 214Universal City, CA 91602

Cal BRE: 01470894

CONTACT

C: 310.403.8544F: 818.332.4977E: [email protected]

7243-7249 atoll ave. north hollywood, ca 91601 · 7243-7249 atoll street features a multi-tenant...

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