boyle heights, california development opportunity

318N. MATHEWS STREET

BOYLE HEIGHTS, CALIFORNIA

DEVELOPMENT OPPORTUNITY

OFFERING MEMORANDUM

DARIO [email protected] 01884474

BOYLE HEIGHTS, LOS ANGELES, CALIFORNIA 90033


Pacific Union Commercial and Pacific Union International do not guarantee the accuracy of estimates, square footages, lot size, government approvals, government conditions, government allowances, construction feasibility, construction concepts, construction plans, construction progress, inspections, investigations, reports or other information concerning the condition or features of the property, project or possible projects provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with appropriately licensed professionals and city officials. All pro-formas, possibilities, projections, assumptions, concepts, construction plans, studies, estimates, etc. are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property is to rely on their own pro-formas, projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are shown for illustrative purposes and not necessarily meant to be an actual depiction of what can be built. | Svidler License 01884474.

For further information contact:

.............................................................. ABOUT DARIO

............................................................ THE OFFERING

............................................ PROPERTY OVERVIEW

.................................................. PROPERTY PHOTOS

............................................... POINTS OF INTEREST

................................................................................ MAPS

................................... AREA/MARKET OVERVIEW

.................................................... METRO GOLD LINE

............................................................... WALK SCORE

............................... AREA JOBS - ARTS DISTRICT

............................................................ ZIMAS REPORT

........................................................... ASSESSOR MAP

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TABLE OF CONTENTS

PACIFIC UNION COMMERCIAL


318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 3

Dario SvidlerExecutive Vice President & Regional DirectorCommercial Division, Pacific Union

I grew up with Real Estate all around me. My father, a Structural Engineer and practicing General Contractor, and my mother, an Architect, have been bringing me to their job sites since I was born.

I have experienced all facets of the Construction and Real Estate Businesses, ranging from Commercial and Industrial to all types of Residential. As a Real Estate Salesperson, I have sold in excess of $200 million in Real Estate and am well on my way to doubling that number. My talent in finding Value-Add Properties have made me an indispensable asset to a select group of Clients and Investors looking to add higher-yielding properties to their portfolio.

I am a member of the Real Estate and Construction Division of the Jewish Federation and an alumnus of the American Jewish University.

License 01884474




A COMMITMENT TO YOUWHAT WE ARE.

First, and foremost, Pacific Union is a California-based real estate brokerage that leverages our global network, media savvy and command of the market to provide our clients with a discreet and peerless level of real estate services.

We are a select group of the finest, principled and reputable agents in the market.

We are distinguished in the marketplace by our emphatic sales volume, and reputed for our integrity, market intelligence and a genuine connection to our communities. We are proud of these accomplishments. We work diligently everyday to maintain them.

This is what we are.

WHO WE ARE.

What a company is should be driven by who they are at the core and what they believe in that drives them to do what they do.

In this regard, Pacific Union is a group of professionals that believe in the sanctity of real estate ownership and the inalienable right everyone has to own real estate.

To support our beliefs, we create optimum conditions required to provide the deepest level of regard, respect, care, empathy, commitment and services possible to buyers, sellers, our associates and our competitors.

We are people who care about the lives, the careers, the families, the financial securities and the peace of mind for everyone we touch.







Two Blocks from the Metro Gold Line Station.

THEOFFERINGBOYLE HEIGHTS DEVELOPMENT OPPORTUNITYPresented for sale is 318 N. Mathews St. in the improving and gentrifying Los Angeles City neighborhood

of Boyle Heights. This vacant 3,077sf duplex is prime for redevelopment due to it’s large 8,545sf R3-1

lot surrounded on three sides by two alleys and the street. While an 11 unit by-right development

is doable, encouraged is a fully Transit Oriented Communities development utilizing it’s Tier 3 TOC

density bonus. Build approximately 20 units (2 low income) and have as little parking on site as 10

spots. Potential for on-grade construction makes this a perfect development play for someone that

understands the Boyle Heights market and sees the potential in this burgeoning market.




PROPERTY OVERVIEW

318 N. Mathews St., Boyle Heights, Los Angeles, CA

PRICE $974,000

CURRENT USE Vacant DuplexBuilding 1 946 Sq. Ft.

Building 2 2,131 Sq. Ft.

LOT SIZE 8,546.5 Sq. Ft.ZONING R3-1-CUGUTOC Tier 3ALLEYS On Side & on BackAPN 5180-008-010

PROPERTY HIGHLIGHTS

• Build to a +7% CAP with sub $3 psf rents and $250 psf construction costs

• Area Rents have strong upward mobility with little to no new construction

• TOC incentives in the Tier 3 zone include 70% density bonus, reduced

setbacks and extra height

• Price per buildable-door on market-rate units w/TOC is sub $60K

• Owner will entertain all reasonable offers but none with

entitlement timelines

• 0.3 Miles from the Soto Gold Line Metro Station

Buyer and Buyer’s Representative to rely solely on their own research and investigations. This information is provided as a courtesy.




PROPERTY PHOTOS




318 Mathews St.

POINTS OF INTEREST




POINTS OF INTEREST




MAPS




A vibrant community whose cultural richness is matched by its culinary delights.

AREA/MARKETOVERVIEWBOYLE HEIGHTSThe neighborhood of Boyle Heights has long been known as a bustling, if somewhat insular, Latino enclave in Eastside Los Angeles. But the arrival of the city’s light rail system in 2009 changed all that. It made Boyle Heights more accessible to outsiders, and since then, a wave of gentrification has swept the area. The neighborhood is in flux; the former Sears building, a massive 10-story Art Deco-era tower, is slated for a multi-use community hub with retail, residential, offices, and creative spaces set to be completed in 2020.

You will find Boyle Heights just to the east of downtown Los Angeles. It is a neighborhood full of culture which borders the Arts District and is home to some of the city’s most authentic Mexican restaurants. The community has one of the highest population densities in the city of Los Angeles and in Los Angeles County.

One of the local recreation centers in Boyle Heights provides a great space for a nice afternoon. Hollenbeck Park has scenic views and gives a bit of a reprieve from the fast pace of the neighborhood. Take a stroll to sightsee the old Sears Building, Olympic Boulevard, and Soto Street. The neighborhood boasts quite a variety of small Mexican shops that can keep you busy while trying to explore them all.

Soto Metro Gold Line Station 2330 E 1st St, Los Angeles 90033

0.3 Miles away / 2 Blocks away 12 Bike Rack Spaces & 4 Bike Lockers available on site.

PACIFIC UNION COMMERCIAL 318 N. MATHEWS STREET | PRESENTED BY DARIO SVIDLER | 17

318 North Mathews Street Boyle Heights, Los Angeles, 90033

Commute to Downtown East Los Angeles

https://www.walkscore.com/score/318-n-mathews-st-los-angeles-ca-90033

About this Location 318 N. Mathews St. has a Walk Score of 89 out of 100. This location is Very Walkable so most errands can be accomplished on foot.

318 N. Mathews St. is a six minute walk from the Metro Gold Line (804) at the Soto Station stop.

This location is in the Boyle Heights neighborhood in Los Angeles. Nearby parks include Evergreen Recreation Center, Evergreen Playground and State Street Playground.


https://www.downtownla.com/images/reports/BID.Survey17.Results.v23.pdf https://www.renthop.com/average-rent-in/arts-district/los-angeles-ca

Spotify to launch LA offices in DTLA's Arts District

DTLA's Arts District is about to get a little more crowded, according to LA real estate blog The Real Deal, which reported that the company is close to leasing a 100,000-square-foot office in the At Mateo complex. Currently, the music streaming giant's LA office is located in an 8,200-square-foot facility on Sunset Boulevard in West Hollywood.

https://therealdeal.com/la/2018/01/30/spotify-nearing-deal-for-major-expansion-into-arts-district-sources/

Denim Company Commits To the Arts District

The denim company Lucky Brand has long had a big stake in the Arts District, with an approximately 50,000-square-foot headquarters at 540 S. Santa Fe Ave., and a two-level, 25,000-square-foot manufacturing facility two blocks away at 1245 Factory Place.

http://www.ladowntownnews.com/development/denim-company-commits-to-the-arts-district/article_a0842336-c31b-11e7-b6a5-7b50d4dc070b.html

Warner Music leaving Burbank, Westside for downtown L.A.'s Arts District

Already a growing haven for artists, fashionistas, foodies and techies, the Arts District is about to get a major influx of song and dance.

In a shift that reflects the increasing importance of infusing the music industry with tech culture, Warner Music Group plans to move hundreds of employees from Burbank and the Westside into a renovated former auto plant in the downtown neighborhood.

http://www.latimes.com/business/la-fi-warner-arts-district-20161008-snap-story.html

Sky-Rocketing Arts District Rents

More Jobs Coming to the Arts District - Prospective Employees Looking for non-Arts District Rents

Under 30 Minutes by Public Transportation and around 10 Minutes by Car from Mathews to the Arts District.





City of Los AngelesDepartment of City Planning

5/9/2018PARCEL PROFILE REPORT

Address/Legal InformationPIN Number 127-5A225 49Lot/Parcel Area (Calculated) 8,546.5 (sq ft)Thomas Brothers Grid PAGE 635 - GRID B4

PAGE 635 - GRID B5Assessor Parcel No. (APN) 5180008010Tract DENNIS AND COOK'S SUBDIVISION OF LOT 3 OF THE MATHEWS

AND FICKETT TRACTMap Reference M R 36-85Block NoneLot 8Arb (Lot Cut Reference) NoneMap Sheet 127-5A225Jurisdictional InformationCommunity Plan Area Boyle HeightsArea Planning Commission East Los AngelesNeighborhood Council Boyle HeightsCouncil District CD 14 - José HuizarCensus Tract # 2042.00LADBS District Office Los Angeles MetroPlanning and Zoning InformationSpecial Notes NoneZoning R3-1-CUGUZoning Information (ZI) ZI-2129 EAST LOS ANGELES STATE ENTERPRISE ZONE

ZI-2458 Clean Up Green Up Supplemental Use DistrictZI-2452 Transit Priority Area in the City of Los Angeles

General Plan Land Use Medium ResidentialGeneral Plan Note(s) YesHillside Area (Zoning Code) NoSpecific Plan Area None Subarea NoneSpecial Land Use / Zoning NoneDesign Review Board NoHistoric Preservation Review NoHistoric Preservation Overlay Zone NoneOther Historic Designations NoneOther Historic Survey Information NoneMills Act Contract NoneCDO: Community Design Overlay NoneCPIO: Community Plan Imp. Overlay None Subarea NoneCUGU: Clean Up-Green Up Boyle HeightsNSO: Neighborhood Stabilization Overlay NoPOD: Pedestrian Oriented Districts NoneSN: Sign District NoStreetscape NoAdaptive Reuse Incentive Area NoneAffordable Housing Linkage Fee

PROPERTY ADDRESSES318 N MATHEWS ST

ZIP CODES90033

RECENT ACTIVITYNone

CASE NUMBERSCPC-7337CPC-2016-2905-CPUCPC-2015-1462-CACPC-2007-5599-CPUCPC-1986-445-GPCORD-184246ORD-166585-SA1700BORD-129279ORD-107853ENV-2016-2906-EIRENV-2015-1463-NDENV-2013-3392-CEENV-2007-5600-EIRND-83-381-ZC-HD

This report is subject to the terms and conditions as set forth on the website. For more details, please refer to the terms and conditions at zimas.lacity.org(*) - APN Area is provided "as is" from the Los Angeles County's Public Works, Flood Control, Benefit Assessment.

zimas.lacity.org | planning.lacity.org

Residential Market Area Low Non-Residential Market Area MediumTransit Oriented Communities (TOC) Tier 3CRA - Community Redevelopment Agency NoneCentral City Parking NoDowntown Parking NoBuilding Line None500 Ft School Zone No500 Ft Park Zone NoAssessor InformationAssessor Parcel No. (APN) 5180008010APN Area (Co. Public Works)* 0.196 (ac)Use Code 0200 - Residential - Double, Duplex, or Two Units - 4 Stories or LessAssessed Land Val. $167,987Assessed Improvement Val. $118,314Last Owner Change 11/14/2013Last Sale Amount $365,003Tax Rate Area 4Deed Ref No. (City Clerk) 6-771LE

210361519199451712224

Building 1 Year Built 1905 Building Class D35A Number of Units 1 Number of Bedrooms 2 Number of Bathrooms 1 Building Square Footage 946.0 (sq ft)Building 2 Year Built 1905 Building Class D55C Number of Units 1 Number of Bedrooms 4 Number of Bathrooms 1 Building Square Footage 2,131.0 (sq ft)Building 3 No data for building 3Building 4 No data for building 4Building 5 No data for building 5Additional InformationAirport Hazard NoneCoastal Zone NoneFarmland Area Not MappedUrban Agriculture Incentive Zone YESVery High Fire Hazard Severity Zone NoFire District No. 1 NoFlood Zone NoneWatercourse NoHazardous Waste / Border Zone Properties NoMethane Hazard Site Methane Buffer ZoneHigh Wind Velocity Areas NoSpecial Grading Area (BOE Basic Grid Map A-13372)

Yes

Oil Wells NoneSeismic Hazards



ZIMAS REPORT




Active Fault Near-Source Zone Nearest Fault (Distance in km) 1.77326544 Nearest Fault (Name) Upper Elysian Park Region Los Angeles Blind Thrusts Fault Type B Slip Rate (mm/year) 1.30000000 Slip Geometry Reverse Slip Type Poorly Constrained Down Dip Width (km) 13.00000000 Rupture Top 3.00000000 Rupture Bottom 13.00000000 Dip Angle (degrees) 50.00000000 Maximum Magnitude 6.40000000Alquist-Priolo Fault Zone NoLandslide NoLiquefaction NoPreliminary Fault Rupture Study Area NoTsunami Inundation Zone NoEconomic Development AreasBusiness Improvement District NonePromise Zone NoneRenewal Community NoRevitalization Zone Central CityState Enterprise Zone EAST LOS ANGELES STATE ENTERPRISE ZONETargeted Neighborhood Initiative NoneHousingDirect all Inquiries to Housing+Community Investment Department Telephone (866) 557-7368 Website http://hcidla.lacity.orgRent Stabilization Ordinance (RSO) YesEllis Act Property NoPublic SafetyPolice Information Bureau Central Division / Station Hollenbeck Reporting District 466Fire Information Bureau Central Batallion 1 District / Fire Station 2 Red Flag Restricted Parking No



ZIMAS PUBLIC Generalized Zoning 05/09/2018City of Los Angeles

Department of City Planning

Address: 318 N MATHEWS ST Tract: DENNIS AND COOK'SSUBDIVISION OF LOT 3 OF THEMATHEWS AND FICKETT TRACT

Zoning: R3-1-CUGU

APN: 5180008010 Block: None General Plan: Medium ResidentialPIN #: 127-5A225 49 Lot: 8

Arb: NoneStreets Copyright (c) Thomas Brothers Maps, Inc.

ZIMAS REPORT




ASSESSOR MAP

DARIO [email protected] 01884474

PACIFIC UNION COMMERCIAL150 S. Rodeo Drive, Suite 100

Beverly Hills, CA 90212

For further information contact:

Pacific Union Commercial and Pacific Union International do not guarantee the accuracy of estimates, square footages, lot size, government approvals,

government conditions, government allowances, construction feasibility, construction concepts, construction plans, construction progress, inspections,

investigations, reports or other information concerning the condition or features of the property, project or possible projects provided by the seller or obtained

from public records or other sources and the buyer is advised to independently verify the accuracy of all information through personal inspection, with

appropriately licensed professionals and city officials. All pro-formas, possibilities, projections, assumptions, concepts, construction plans, studies, estimates, etc.

are presented as a possible scenarios; buyer, their agents and everyone else associated with the purchase of this property is to rely on their own pro-formas,

projections, assumptions, investigations, consultations, estimates, etc. If images of construction projects are listed, they are shown for illustrative purposes and

not necessarily meant to be an actual depiction of what can be built. | Svidler License 01884474.




boyle heights, california development opportunity

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