a premier mixed-use retail & office opportunity …...the property consists of a two-story...

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LOS FELIZ A PREMIER MIXED-USE RETAIL & OFFICE OPPORTUNITY 1710-1716 NORTH VERMONT AVENUE & KINGSWELL AVENUE (PARKING LOT) LOS ANGELES, CA 9 0 0 2 7 OFFERING MEMORANDUM

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LOS FELIZ A PREMIER MIXED-USE RETAIL &

OFFICE OPPORTUNITY

1710-1716 NORTH VERMONT AVENUE

& K INGSWELL AVENUE

(PARKING LOT)

L O S A N G E L E S , C A 9 0 0 2 7

O F F E R I N GM E M O R A N D U M

NON-ENDORSEMENT & DISCLAIMER NOTICE

CONFIDENTIALITY & DISCLAIMERThe 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.

© 2017 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICEMarcus & 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 corporation 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.

1710-1716 North Vermont Avenue

Los Angeles, CA 90027

(Activity ID: ZAA0140194)

1710-1716 NORTH VERMONT AVENUEA PREMIER LOS FELIZ MIXED-USE RETAIL & OFFICE OPPORTUNITY

EXCLUSIVELY LISTED BY

O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A

WWW.MARCUSMILLICHAP.COM

ARIA POURNAZARIANSenior Associate

National Retail Properties Group213.943.1874

[email protected] CA 01918248

MIKE MALICKFirst Vice President Investments

Senior Director-National Office and Industrial Properties Group

[email protected]

License CA 01067781

CAROL SONGOffice Specialist

National Office and Industrial Properties Group

[email protected]

License CA 01348993

FEATURING RENOVATED OPEN AIR TWO-STORY PATIO &

PRIVATE OFFICES WITH SKYLIGHTS & EXPOSED BRICK

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EXECUTIVE SUMMARYSECTION 1 Offering Process • Offer Process Investment Overview • Investment HighlightsFinancial Overview • Rent Roll • Parcel Map Floor Plan • Local & Regional MapProperty Photographs

LOCATION OVERVIEWSECTION 3 Los Feliz • Amenities • Developments

TABLE OF CONTENTS

EXCLUSIVELY LISTED BY:

39 COMPARABLES PROPERTIESSECTION 4 Sales Comparables • Sales Comparables Map Sales Comparables Details

1710-1716 NORTH VERMONT AVENUEA PREMIER LOS FELIZ MIXED-USE RETAIL & OFFICE OPPORTUNITY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate

Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap (Activity ID: ZAA0140194)

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EXECUTIVESUMMARY

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1710-1716 NORTH VERMONT AVENUE4638 KINGSWELL AVENUE

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GRIFFITH PARKHOLLYWOOD SIGN

1710-1716 North Vermont Avenue

Parking Lot

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4531 HOLLYWOOD BOULEVARDMixed-Use | 202 Units | 14,725 SF Commercial

CHILDREN’S HOSPITAL

HO

LLYWO

OD B

OULEVAR

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ROCKWELL

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OFFER PROCESS

A Restaurant and Office Building Measuring Approximately 16,290 SF*

1710-1716 NORTH VERMONT AVENUE 4638 KINGSWELL AVENUE

INTEREST OFFEREDMarcus & Millichap has been selected to exclusively market for sale 1710-1716 North Vermont Avenue, a restaurant/office property and 4638 Kingswell Avenue, a parking lot in Los Angeles, California. It is a 100% fee simple interest with two parcels totaling approximately 15,861 square feet improved with a building measuring approximately 16,290 square feet, which includes a basement of 1,000 square feet.

PROPERTY TOURSTours must be arranged with Marcus & Millichap. Please do not contact the tenants, on-site management or staff without prior approval. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.

OFFER PROCESS AND TIMELINEOffers are being sought for the purchase of 1710-1716 North Vermont and 4638 Kingswell Avenue from qualified purchasers. The prospective purchaser will be selected by the owner on the basis of:

1) Purchase price 2) Financial capability 3) Proposed use 4) Due diligence and escrow timeframe

PROPERTY SPECIFICS

Property AddressParking Lot Address

1710 -1716 North Vermont Avenue4638 Kingswell AvenueLos Angeles, CA 90027

Property TypeProperty Sub-type

Mixed-UseRestaurant / Office

APN (Building) APN (Parking Lot)

5590-026-0035590-026-005

Zoning (Building)Zoning (Parking Lot)

LAC4LAR2

Rentable Area 16,290 SF*

TOC Tier 3 Overlay

Total Parcel SizeParcel Size (Building)Parcel Size (Parking Lot)

15,861 SF8,398 SF7,463 SF

Year Built/Renovated 1922/2009

Number of Buildings One

Number of Floors Two

Number of Offices Eight

Construction Masonry

Parking +/- 29 Spaces

Power Buyer to verify

Sprinklers Yes

HVAC Yes

Utilities All Utilities Provided

Restrooms 3 Women’s & 3 Men’s

*The total square footage includes the basement of 1,000 SF.

PROPERTY DETAILS

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INVESTMENT OVERVIEW

Marcus & Millichap is pleased to present for sale a rare dual parcel mixed-use opportunity located at 1710-1716 North Vermont and 4638 Kingswell Avenue,

in the heart of the eminent Los Feliz submarket. The property consists of a two-story building measuring approximately 16,290 square feet including the

basement which has a line kitchen that measures approximately 1,000 square feet. Built in 1922, the two-story patio restaurant was extensively renovated in

2009. The first floor is occupied by Rockwell, a restaurant, bar and cabaret venue. The second floor includes eight offices of which all are on month-to-month

leases allowing for an immediate repositioning play or owner-user occupancy. The building is situated

on a parcel of land measuring approximately 8,398 square feet with an adjacent parking lot measuring

approximately 7,463 square feet. The adjacent lot is located at 4638 Kingswell Avenue with 29 spaces

serving the parking needs of the building. The parking lot is located in a Tier 3 TOC overlay, thereby

giving it a nice development potential down the road.

Los Feliz is a relaxed hillside enclave that draws both established and up-and-coming creative types.

There are plenty of old-school watering holes, hip shops, vintage stores, coffee shops and trendy

bistros such as The Figaro Bistro. Los Feliz is home to the historic single movie screen, the Vista

Theater, numerous bars, restaurants catering to nightlife, and a pair of exemplary Frank Lloyd Wright

homes located on Vermont Avenue as well as Hollywood Boulevard. The neighborhood borders

sprawling Griffith Park, beloved by locals for its hiking, concerts at the Greek Theater and stargazing

at Griffith Observatory and Planetarium. Largely catering to a young and creative professional

demographic, the area has witnessed a dynamic change, while still retaining its artsy character and

individual Los Feliz personality.

The current tenant, Rockwell is one such example of the Los Feliz market with a trendy and unpretentious restaurant, bar, and live entertainment. This is an

outstanding opportunity for investors seeking to acquire in one of the most desirable submarkets in Los Angeles, as well as the possible owner-user seeking

office space in a vibrant and creative submarket.

ROCKWELL RESTAURANT

► Premier Los Feliz-Vermont Corridor

► Rare Dual Parcel Offering with Lot Included as Part of the Sale

► 2019 CUP Allows Alcohol, Entertainment & Dancing Uses

► Beautifully Renovated in 2009 with Extensive Improvements

to Patio, Offices, and Exterior

► 29 Parking Spaces (Separate Adjacent Parcel)

► Minutes to the Hospital District (Saban Research Institute,

Children’s Hospital, Kaiser Permanente) Slated for Major

Redevelopment

► Development Potential: Tier 3 TOC

► Walk to the Vermont / Sunset Metro Red Line Station

INVESTMENT HIGHLIGHTS

Value-Add Opportunity

High-Urban Retail & Office

Surrounded by SeveralNearby Developments

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1710 N Vermont Ave

ROCKWELL

STEP INTO ROCKWELL: PATIO, L IVE MUSIC, COMFORT EATS

& CREATIVE COCKTAILS

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STEP INTO ROCKWELL: PATIO, L IVE MUSIC, COMFORT EATS

& CREATIVE COCKTAILS

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A PIECE OF HISTORY: SARNO’S

In 1946, Frances and Umberto Sarno moved with their young children from Chicago to Los Angeles. The

Sarno family had owned a bakery outside of Naples, and the couple had continued the tradition in Chicago.

They quickly found a suitable 1920s-era building at 1712 N. Vermont Avenue in village-like Los Feliz. Los Feliz

at the time was a comfortable middle-class neighborhood with a diverse Anglo, Jewish, German and Italian

population. The Sarno family moved into an apartment upstairs, while downstairs they set to work in the newly

christened Sarno’s Bakery. Working in the bakery was a family affair, and soon became a neighborhood classic

with Caffe Dell’ Opera next door.

The bakery quickly became popular with the local Italian American community who sat at little round tables

conversing in the mother tongue. Over the years Umberto encouraged his Angelino “paisans” to go into

business, and the Vermont stretch of Los Feliz would eventually include other Italian eateries like the Dresden

Room, Palermo, Luigi’s and Guy Pasquini’s tiny Moka d’Oro, Los Angeles’ first espresso bar. The café became

a cozy restaurant, serving hearty Italian classics, sandwiches with fresh bread from the bakery. Soon, the

walls were lined with pictures of visiting celebs like Sophia Loren, Tony Bennett, and Alberto’s hero, Luciano

Pavarotti, who was honored with a life-sized picture in the front window.

Although the era is long gone, Sarno’s Bakery has gone through its own Italian Renaissance. Converting the

old bakery side into a large, open-air patio, the building became the home of Rockwell’s beginning in 2009.

The bustling Rockwell, with a large stage takes up the middle of the dining area where most nights the glitzy

musical revue series; the spirit of the original Sarno’s lives on.

A LOS FELIZ LANDMARK

A LOS FELIZ LANDMARK

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FINANCIAL OVERVIEW

EXPENSES - CURRENT

Real Estate Taxes $92,820

Property Insurance $10,000

Property Management (2%) $7,176

Legal/Accounting/Administrative $2,750

Utilities (Office) $4,400

Repairs & Maintenance (Office) $2,600

Total Expenses $119,746

RENT ROLL

MONTHLY LEASE TERM

FLOOR SUITE TENANT NAMEUNIT

SIZE SFANNUAL

RENTRENT/

SFCURRENT

RENTLEASETYPE

START DATE END DATE OPTIONSRENT

ADJUSTMENTS

1st Front

RestaurantRockwell 4,480 $162,912 $3.03 $13,576 MG 5/31/2009 9/30/2024 None Flat

1stBack

RestaurantV-Bar

(Rockwell) 6,620 $144,000 $1.81 $12,000 MG 4/31/2009 9/30/2024 None Flat

2nd 101 Sidewalk Grill 300 $9,600 $2.67 $800 MG M-T-M None

2nd 102 Chandler Wood 300 $9,600 $2.67 $800 MG M-T-M None

2nd 103 Owner Occupied 250 - - - MG M-T-M None

2nd 104 Thomas Thonson 300 $8,100 $2.25 $675 MG M-T-M None

2nd 105 Rockwell1 - - - - MG None

2nd 106 Owner Occupied 200 - - - MG M-T-M None

2nd 107 Owner Occupied 300 - - - MG M-T-M None

2nd 108 Diamond & Elia 250 $6,000 $2.00 $500 MG M-T-M None

2nd 109 Diamond & Elia 300 $9,000 $2.50 $750 MG M-T-M None

TOTAL $434,568 $37,014

1 Suite 105 is occupied by Rockwell and is incorporated as part of the back of the restaurant (V-Bar).

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ROCKWELL RESIDENCY & CONDITIONAL USE PERMIT

JEFF GOLDBLUM and THE MILDRED SNITZER

Jeff Goldblum is famous for his starring roles in films such as Jurassic Park, The Big Chill, and The Fly. When he’s not busy on a movie set, Jeff Goldblum owns

Wednesday nights in Los Angeles. A few years ago, he put together a jazz band and dubbed it “The Mildred Snitzer Orchestra” and took up a residency playing

jazz piano at the Rockwell Table & Stage in Los Feliz. The performances are casual, unstructured and entertaining, with the man of the hour playing keys one

moment, holding court and posing for photos with attendees the next.

CONDITIONAL USE PERMITThe conditional use permit was re-issued in September 2019 and approved for alcohol consumption,

public dancing, and entertainment.

HOURS OF OPERATIONS

Lunch: Monday - Friday 11:30 am - 3 pmDinner: 7 Days Per Week 3 pm - CloseBrunch: Saturday & Sunday 10 am - 3 pmHappy Hour: Daily 4 pm - 7 pm

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TENANT PROFILE - ROCKWELL

Located at 1714 North Vermont Avenue, the indoor remodeled dining room opens each

night with music shows beginning at 8pm. The outdoor patio space is open daily. After-

work specials catering to the young and creative professional audience is served on the

patio until sunset while brunch is served daily featuring brunch specials and innovative

beverages. DJs spin Thursday through Saturday evenings and at Sunday Brunch

adding an additional level of ambience and liveliness. Continuing the Sarno’s tradition of

service, superior cuisine and Hollywood’s love for entertainment in the heart of Los Feliz

is Rockwell Table & Stage. Nestled privately behind the dining room is an expansive,

open-concept, multi-level patio. Beneath the branches of a mighty coral tree patrons can

enjoy a masterfully prepared fare by Chef Wayne Elias all while basking in the warmth

of Los Feliz sun and magic of the Hollywood stars. The business operates under an

existing Condition Use Permit license that permits the sale and dispensing of a full line of

alcoholic beverages within the existing restaurant as well as limited public dancing.

CHEF WAYNE ELIAS AND CHRIS DIAMONDThe aforementioned Chef Wayne is master of cuisine on

the tables of Rockwell, but transforms tables via Crumble

Catering located at the property. As the caterer of choice for

corporations, studios, celebrities and Los Angeles socialites,

Crumble Catering’s event planning staff is well known and

established in the local culinary scene. Whether it’s an

elegant dinner for 10, or a major corporate party for 5,000

guests complete with elephants and camels, Crumble

Catering has served all.

Chris and Wayne have built their reputation by catering some

of the largest fundraisers in Los Angeles such as the Elton

John Aids Foundation Gala dinner for the last ten years on

Oscar Night, private and fundraising events for Fortune 500

companies, and exclusive events for numerous “A-List”

celebrities. (Website: http://crumblecatering.com)

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FLOOR PLAN

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FLOOR PLAN

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate

Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap (Activity ID: ZAA0140194)

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PREMIER LOS FELIZ LOCATION

LOS FELIZ/VERMONT CORRIDOR

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LOCATION OVERVIEW

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1710-1716 NORTH VERMONT AVENUE4638 KINGSWELL AVENUE

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LOS FELIZA RARE SPOT IN LOS ANGELES

Los Feliz is a hillside neighborhood in the central region of Los Angeles,

California, abutting Hollywood and encompassing part of the Santa Monica

Mountains.

The neighborhood is named after its colonial Spanish-Mexican land grantee,

José Vicente Feliz, and, along with present-day Griffith Park, makes up the

original Rancho Los Feliz land concession. According to the Mapping L.A.

project of the Los Angeles Times, Los Feliz is part of Central Los Angeles. It is

flanked on the north by Griffith Park, on the northeast by Atwater Village, on the

southeast by Silver Lake, on the south by East Hollywood, and on the northwest

by Hollywood and Hollywood Hills. With over 4,210 acres of both natural

chapparal-covered terrain and landscaped parkland and picnic areas, Griffith

Park is one of the largest municipal parks with urban wilderness areas in the

United States and home to the famed Griffith Observatory.

Los Feliz Village is the southern section of Los Feliz, home to most of the

commercial storefronts in the district. It is centered on the thoroughfares of

Vermont and Hillhurst Avenues and spans from about Prospect Avenue to Los

Feliz Boulevard. There are several coffee shops, restaurants, and small clothing

and vintage stores. Los Feliz Village is home to numerous bars and restaurants

catering to nightlife. They are mostly on Hillhurst Avenue between Los Feliz

Boulevard and Prospect Avenue, and on Vermont Avenue between Franklin

Avenue and Hollywood Boulevard. Some were classic dive bars in their heyday,

frequented by the likes of Charles Bukowski, Lawrence Tierney, poets, artists,

writers, and other creative types.

96Walker’s ParadiseDaily errands do not require a car

70Excellent TransitTransit is convenient for most trips

58BikeableBikes add to the charm of the area

AREA SCORES

WALK SCORE

TRANSIT SCORE

BIKE SCORE

LA COMMUNITY COLLEGE

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CAFE LOS FELIZ

GRIFFITH PARK

LOS FELIZ THEATER GLAZE FIRE

JENI’S SPLENDID ICE CREAM

DRESDEN FIGARO BISTROT

KISMET

VISTA THEATRE

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MARKET DRIVERS

AREA AMENITIES

► Griffith Park, Griffith Observatory & Planetarium

► Greek Theater

► Vista Movie Theater

► Los Feliz Theater

► Los Angeles Zoo

► Barnsdall Park

► Kaiser Permanente Los Angeles Medical Center

► Children’s Hospital and Saban Research Institute

► Hollywood Presbyterian Medical Center

► Vermont/Sunset Red Line Metro Station

► Hollywood Hotel

► Los Angeles City College

► International School of Los Angeles

► Numerous Retail, Restaurant Venues, and Banks

Within Walking Distance

AMENITIES MAP

RESTAURANTS & BARS

1 Messhall Kitchen

2 Stamp Proper Foods

3 Little Dom’s

4 Yuca’s

5 Trattoria Farfalla

6 Jeni’s Splendid Ice Creams

7 Alcove

8 Ye Rustic Inn

9 Atrium

10 Figaro Bistrot

11 Drawing Room

12 Dresden

13 Home

14 Spitz

15 Best Fish Taco in Ensenada

16 Kismet

17 Bar Covell

18 HomeState

19 Good Luck Bar

20 Tiki-Ti

COFFEE SHOPS

1 Starbucks

2 Cafe Los Feliz

3 Coffee Bean & Tea Leaf

4 Blue Bottle Coffee

5 Maru Coffee

6 House of Pies

7 Bru Coffeebar

8 The Guest House

9 Starbucks

10 Go Get Em Tiger

SHOPPING & ENTERTAINMENT

1 McCall’s Meat & Fish Co.

2Lassens Natural Foods &

Vitamins

3 Jasmine’s Garden

4 Glaze Fire

5 Los Feliz Theater

6 Skylight Books

7 Skylight Theatre Company

8 LA Municipal Art Gallery

9 Barnsdall Art Park

10 Vista Theatre

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PREMIER LOS FELIZ-VERMONT

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PREMIER LOS FELIZ-VERMONT

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DEVELOPMENT MAP

1860 WESTERN AVENUEMixed-Use | 87 Units | 6,000 SF Commercial

4718 FRANKLIN AVENUECondos | 6 Units

ROCKWELL

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4850 HOLLYWOOD BOULEVARDMixed-Use | 101 Units | 10,000 SF Commercial

4765 HOLLYWOOD BOULEVARDApartments | 18 Units

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4531 HOLLYWOOD BOULEVARDMixed-Use | 202 Units | 14,725 SF Commercial

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KAISER PERMANENTE EXPANSION/BARNSDALL PARK

This unique park, which offers breathtaking views of Los Angeles and the Hollywood Sign, is

also home to the Barnsdall Gallery Theatre, Junior Arts Center and the famous Hollyhock House

that was designed in the 1920’s by the internationally acclaimed architect Frank Lloyd Wright.

Barnsdall Art Park officially reopened on June 4, 2003, after a three-year remodel, with brand

new visual and design art exhibits. The park is a Los Angeles Historic-Cultural Monument, and

a facility of the City of Los Angeles Department of Cultural Affairs offering several local art and

educational services as well as a number of community inspired events: art shows, wine tasting

and concerts. Located in extremely close-proximity to the Subject Property, Barnsdall Park

supports the narrative as “ground zero” of the Los Feliz cultural scene.

Kaiser’s expansion would be implemented in three phases. The first phase, closest to Fountain

and Vermont would begin in 2020 and would be completed by 2024. The second phase would

begin in 2024 and would be completed by 2028. The third phase would begin in 2028 and

would be completed by 2030.

The new medical office building and parking structure at 1345 Vermont (and 1328 North New

Hampshire Avenue, presently a duplex) will rise to 129 feet, or five stories above grade. The four

stories below grade will provide 582 parking stalls across 285,780 square feet, a figure which would

include retail spaces on the ground floor and the medical portion will largely constitute 128,500 SF.

Hollywood Presbyterian Medical Center:Patient care tower details include construction which began in May 2018 with the ER portion

of the development complete in 2020. A repositioning development of 174,954 square feet will

be dedicated to an acute care facility which will double the size of the hospital: maternity and

neonatal intensive care unit, medical surgical unit, seven operating rooms, pre-operative and

recovery beds, cardiac catheterization labs. 1300 North Vermont Avenue will replace the existing

hospital building and emergency department.

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DEMOGRAPHIC HIGHLIGHTS

POPULATION 1 MILE 3 MILE 5 MILE

2019 Total Population: 59,800 407,012 1,091,422

2024 Population: 60,360 414,149 1,111,442

Population Growth 2019-2024: 0.94% 1.75% 1.83%

Average Age: 40.00 38.40 38.50

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2019 Total Households: 26,825 168,874 439,453

HH Growth 2019-2024: 1.09% 1.72% 1.87%

Average Household Size: 2.10 2.30 2.40

HOUSING 1 MILE 3 MILE 5 MILE

Median Home Value: $917,101 $847,193 $786,151

Median Year Built 1958 1961 1962

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate

Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap (Activity ID: ZAA0140194)

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COMPARABLEPROPERTIES

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1710-1716 NORTH VERMONT AVENUE4638 KINGSWELL AVENUE

ADDRESS SALES PRICECLOSE OF ESCROW

BUILDING SIZE

PRICE PER SF

LAND SIZEYEAR BUILT/ RENOVATED

NOTES

1710-1716 North Vermont Avenue Undisclosed For Sale 16,290 SF N/A 15,861 SF 1922/2009

29 Parking Spaces in

Separate lot

1 - 1936-1940 Hillhurst Avenue $2,200,000 11/29/18 2,765 SF $795.66 6,752 SF 1925 6 Surface Parking Spaces

2 - 627 North Larchmont Boulevard $3,300,000 6/6/18 4,230 SF $780.14 6,970 SF 1921

3 - 6503-6515 Hollywood Boulevard $11,250,000 12/13/17 23,998 SF $468.79 16,553 SF 1921

4 - 6501 Hollywood Boulevard $3,700,000 6/16/17 7,000 SF $528.57 4,800 SF 199420 Surface

Parking Spaces

AVERAGE PRICE PER RENTABLE SF $538.26

SALES COMPARABLES

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All items

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627 NORTH LARCHMONT BOULEVARDLos Angeles, CA 90004

2

SALE PRICE $2,200,000

Sale Date 11/29/18

Price Per SF $795.66

Building Size 2,765 SF

Parcel Size 6,752 SF

Year Built 1925

Notes 6 Parking Spaces

1936-1940 HILLHURST AVENUELos Angeles, CA 90027

SALE COMPARABLES

SALE PRICE $3,300,000

Sale Date 6/6/18

Price Per SF $780.14

Building Size 4,230 SF

Parcel Size 6,752 SF

Year Built 1925

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6501 HOLLYWOOD BOULEVARDLos Angeles, CA 90028

6503-6515 HOLLYWOOD BOULEVARDLos Angeles, CA 90028

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SALE PRICE $11,250,000

Sale Date 12/13/17

Price Per SF $468.79

Building Size 23,998 SF

Parcel Size 16,553 SF

Year Built 1921

SALE PRICE $3,700,000

Sale Date 6/16/17

Price Per SF $528.57

Building Size 7,000 SF

Parcel Size 4,800 SF

Year Built 1994

Notes 20 Parking Spaces

SALE COMPARABLES

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E X C L U S I V E LY L I S T E D B Y

MIKE MALICKFirst Vice President Investments

[email protected]

License CA 01067781

ARIA POURNAZARIANSenior Associate213.943.1874

[email protected] CA 01918248

CAROL SONGOffice Specialist213.943.1853

[email protected] CA 01348993