industrial zoning los angeles, ca 90034 residential ......changing the real estate marketplace in...

RESIDENTIAL/INDUSTRIAL RESIDENTIAL/INDUSTRIAL LIVE/WORK/CREATIVE OFFICE

O F F E R I N G M E M O RA N D U M

3373 ROBERTSON BLVD& 3382 ROBERTSON PLL O S A N G E L E S , C A 9 0 0 34

SBA 9 0% FINANCINGSBA 9 0% FINANCINGNO PAYMENT 6 MONTHSNO PAYMENT 6 MONTHS

NEW HYBRIDNEW HYBRIDINDUSTRIAL ZONINGINDUSTRIAL ZONING

INVESTMENT SUMMARY

CONSTRUCTION TYPE Concrete Block/Wood-Frame

ROOF Rolled Composition/Gable Roof

FOUNDATION Concrete Industrial/SFR Raised

CEILING HEIGHT 8'5" SFR / 10'4" Industrial

PARKING 3 Surface Spaces

RESIDENTIAL BD/BTH 2 Bedroom + 1 Bath

OCCUPANCY Vacant

FRONTAGE50 Ft on Robertson Blvd & 70 Ft on Robertson Pl

INVESTMENT SUMMARY EXECUTIVE OVERVIEW

Hudson Partners is pleased to exclusively present 3373 S. Rob-ertson Blvd. This unique property represents a rare opportunity to acquire a multifaceted asset within walking distance to the Ivy Sta-tion redevelopment project, among other exciting developments changing the Real Estate Marketplace in Culver City.

Boasting 1,767 Square feet across two separate structures, 3373 S. Robertson is ideal for an owner/user or live/work opportunity. With highly-leveraged SBA financing, this asset can accommo-date a user looking to occupy at least 51% of the property. The new Hybrid Zoning also provides potential retail and live work possibilities beyond its current uses.

The residential structure, located on the Robertson Blvd side of the parcel, was previously leased as Creative Office space. It features two bedrooms, both roughly the size of small offices, a reception area, one bathroom, and a kitchen/break room area. In addition, there is a courtyard space between the two structures, giving the building some common open space.Additionally, the Industrial-style structure in rear portion of the lot has excellent potential to be converted into creative office space.

Investors may benefit from converting or utilizing the existing footprint of the building and marketing the space to companies seeking price relief from Silicone Beach. This property's access to upscale amenities such as walking distance National Credit res-taurant and retail tenants as well as easy access to freeways/transportation will be attractive to newly-minted Westside Tech Companies/Start ups. Additionally, the property's proximity to companies like Google and Apple, just across the street, present an potentially synergistic opportunity, expanding the space's po-tential tenant base.

HIGHLIGHTS

• High Exposure Corner (Robertson Blvd. & Robertson Place)• Adjacent to Ivy Station Mega-Development • Close to Silicone Beach Tenant-Base • Diversified Product; Residential/Industrial • Just Off Culver City Retail Corridor • Near Projected Tech/Content Creation Hubs

LISTING PRICE $1,450,000

BUILDING SIZE 1,767 SF

RESIDENTIAL 744 SF

INDUSTRIAL 1,023 SF

PARCEL AREA 3,546.9 SF

APN 4312-012-004

PROPERTY TYPE SFR/Industrial/Creative Office

YEAR BUILT 1922 SFR | 1954 Industrial

FAR 0.49

ZONING NI(EC)

LOT DIMENSIONS Irregular Shape

HIGHWAY ACCESS I-10 & I-405

HUDSON COMMERCIAL PARTNERS, INC.3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 900342 3

PROPERTY OVERVIEW

LOCATION

3373 Robertson Blvd. & 3382 Robertson Pl.Los Angeles, CA 90034

SITE

Located on the corner of Robertson Blvd and Robertson Pl in the city of Culver City, CA.

LAND AREA

The property consists of 1 parcel (APN #4312-012-004) totaling 3,546.9 SF of land area.

BUILDING AREA

The subject consists of 2 buildings totaling 1,767 SF of net rentable area.

FRONTAGE & ACCESS

The site features 50 linear feet of frontage along Robertson Blvd and 70 linear feet of frontage on Robertson Pl.

Access points into the buildings include 1entrance off Robertson Blvd and 1 en-trance off Robertson Pl.

BUILT

Built in 1922 the single family residence being used as creative office. Built in 1954 industrial building..

ZONING

Per the county of Los Angeles, the subject site was recently changed to NI(EC) zon-ing which is a hybrid industrial zoning al-low live work units and other commercial uses.

PARKING

Provides 3 spaces which equates to 1.70 spaces per 1,000 SF parking ratio.

DISTANCE TO TRANSIT

Metro Expo Line............................0.2 miles33 Metro Local Line.......................0.1 miles733 Metro Rapid Line....................0.1 miles16 Metro Local Line.......................0.1 miles17 Culver City Sta-UCLA..............0.2 milesCC 7 Culver Blvd..........................0.2 milesCC 1 Washington Blvd.................0.2 miles

PARCEL MAP

ROBERTSON BLVD

ROBERTSON BLVD

RO

BER

TSON

PLR

OB

ERTSO

N PL


PRICE $1,450,000

ADDRESS 1,767 SF

GROSS LAND AREA 744 SF

IMPROVEMENTS 1,023 SF

APN 3,546.9 SF

ENTITLEMENTS 4312-012-004

AVAILABLE REPORTS SFR/Industrial/Creative Office

LAND USE & ZONING CURRENT SPECIFIC PLAN

LAND USE PLANNING

Light Industrial Hybrid Industrial

ZONING M1 New Industry

HEIGHT Height District 1 96 Feet/7 Stories

FAR 1.5:1 2.5:1 or 4.0:1

ZIMAS MAP ‒ NEW ZONING

HybridHybridIndustrialIndustrial

96 Foot96 FootHeight LimitHeight Limit

OFFERING SUMMARY


STATION DEVELOPMENT DEVELOPER STATUS IMPROVEMENTS UNITS SQ. FT.

La Cienega/Jefferson

Cumulus Carmel Partners Under Construction Multi-Family, Office & Retail 1,200 1,900,000

Culvery City

Ive Station Lowe Under Construction Office, Retail & Hotel 200 500,000

8777 Washington Clarion Partners Under Construction Apple & Retail ‒ 133,000

Platform Runyon Completed 2016 Office, Retail & Dining ‒ 80,000

Synapse Runyon Under Construction Office & Retail ‒ 92,000

Access Greystar Completed 2016 Multi-Family & Retail 115 108,000

Culver StepsHackman Capital Partners

Under Construction Amazon & Retail ‒ 110,000

Expo/Sepulveda

Linea Carmel Partners Under Construction Multi-Family & Retail 595 526,000

EXPOSITION LINE ‒NOTABLE AREA PROJECTSEXPOSITION CORRIDOR TRANSIT NEIGHBORHOOD PLAN ‒ NEW INDUSTRY ZONE (NI)

SUMMARY OF USES & DEVELOPMENT STANDARDSThe New Industry zone is an employment zone with uses tailored to 21st century and creative industries such as digital technology, R&D, media, design, publishing, motion picture, and broadcasting. Supporting uses associated with these industries, such as light manufacturing, assembly, and limited retail or restaurants, are also appropriate.

SUMMARY OF PERMITTED USES (PARTIAL LIST)

• Live/Work (50%)• Office• Research and Development• Restaurants, bars, Retail &

Personal Services (20%)• Commercial Hotels• Light Manufacturing &

Assembly• Publishing, Motion Picture,

Broadcasting• Repair and Maintenance

DEVELOPMENT STANDARDS

BASE BONUS

FAR 2.5:1 4.0:1

HEIGHT 96 Feet 5 FeetNOTES:1. If a permitted use is limited by the plan the stated percentage represents the maximum

percent of floor area for that use.2. Projects with Total FAR greater than 2.5:1 may dedicate a maximum of 50% of total floor

area to Live/Work Units.3. Projects are allowed Bonus FAR in exchange for providing Public Benefits as defined in

Section 3 of the plan. - For instance, commercial projects (defined as 70% or more non-residential) are required to provide Vehicle Trip Reduction as a Public Benefit.

4. Height bonus applied to ground floor only.5. This is not intended to be an "all-inclusive" list of development standards, requirements and

restrictions. Please refer to the ECTNP for detailed information.

For more information on the Expo Corridor Transit Neighborhood Plan, or to read a draft plan go to: http://www.latnp.org/expo-line/expo-draft-plan/.

LOS ANGELES METRO ‒ LIGHT RAIL SYSTEMLA's World Class Metro Light Rail system features 93 stations and over 98.5 miles of rail. Los Angeles county voter-approved Measure M provides an estimated $860 million per year over the next 40 years to expand the metro rail systems and ease traffic congestion through a wide range of projects. Los Angeles city voter-approved Transit Oriented Communities Affordable Housing Incentive Program (aka "TOC") creates incentives for all housing developments within one-half mile radius of a major transit stop. The property is adjacent to the Expo Line which features 19 stations connective Downtown LA to Santa Monica. In 2019, the opening of the Crenshaw/LAX metro line will connect the Los Angeles Stadium and LAX to the light rail system, further solidifying the benefits of riding metro.

EXPOSITION CORRIDOR TRANSIT NEIGHBORHOOD PLANThe property is located in sub-area 21 of the Exposition Corridor Transit Neighborhood Plan (aka"ECTNP") approved by the Los Angeles City Council on July 31, 2018. As of September 2018, the planning department reports that the final plan is under legal compliance review by city attorneys and would likely take effect in it's present form on or before early 2019.

Upon implementation of ECTNP the property's land use and zoning will change from Light Industrial/M1 to Hybrid Industrial/New Industry respectively.

SUBJECTPROPERTY

SUBJECT PROPERTY3373 ROBERTSON BLVD

3382 ROBERTSON PL


SFR or CREATIVE OFFICE

HUDSON COMMERCIAL PARTNERS, INC.3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 9003410 11SFR/CREATIVE OFFICE INTERIOR

INDUSTRIAL BLG. 1,023 SF

HUDSON COMMERCIAL PARTNERS, INC.3373 ROBERTSON BLVD. & 3382 ROBERTSON PL. | LOS ANGELES, CA 9003412 13INDUSTRIAL INTERIOR/COMMON AREA

SNAPSHOT: WEST LOS ANGELESWest Los Angeles is in Los Angeles County and is one of the best places to live in California. Living in West Los Angeles offers residents an urban feel and most residents rent their homes. In West Los Angeles there are a lot of bars, restaurants, coffee shops, and parks. Many young professionals live in West Los Angeles and residents tend to be liberal. The public schools in West Los Angeles are above average.

LOS ANGELES COUNTY

The County of Los Angeles holds many disticntions. L.A. is the entertainment capital of the world, a cultural mecca boasting more than 100 museums, and a paradise of idyllic weather. From tourist attractions like the Walk of Fame's collection of stars (numbering more than 2,614 and growing by one or two a month) to career opportuni-ties like those presented in the expanding tech industry, Los Angeles County is the place to be. It is the only city in North America to have hosted the Summer Olympics twice. Downtown L.A. is the largest government center outside of Washington, D.C. Los Angeles County has the only remaining wooden lighthouse in the state (located in San Pedro's Fermin Park) and the largest historical theater district on the National Register of Historic Places (located Downtown on Broadway).

NEIGHBORHOOD

West LosAngeles

CITY

LosAngeles

REGION

LosAngeles

COUNTY

LosAngeles

METRO

LosAngeles

DEMOGRAPHICS

WEATHER 281SunnyDays

79◦Average

High

48◦Average

Low

284SunnyDays

71◦Average

High

55◦Average

Low

WEST LOS ANGELES LOS ANGELES COUNTY

WEST LOS ANGELES UNITED STATES

PROPERTY VALUE MEDIAN

$74,655

HIGH DENSITY, WEST LOS ANGELES DEMOGRAPHICS

• More than 206,636 people within a 5-mile

radius.

• More than 103,388 employees with an Average

Household Income exceeding $74,655

• More than 87,500 households with an Average

Property Value exceeding $945,500

SUBJECTPROPERTY


ABOUT THE NEIGHBORHOOD

Beverly Hills 4 mi Hollywood 7 mi Westwood 5 mi Santa Monica 6 mi

93

Walk Score

Walker's ParadiseDaily errands do not

require a car.

63

Transit Score

Good TransitMany nearby public

transportation options.

91

Bike Score

Biker's ParadiseDaily errands can be

accomplished on a bike.

West LA haw a population of 207k peo-ple and a median household income of $74,655. The population of West LA de-clined from 208,314 to 206,636, and its median household income grew from $69,787 to $74,655.

The population of West LA is 52.1% White Alone, 20.9% Asian Alone, and 17.9% Hispanic or Latino. 41.5% of the people in West LA speak a non-English language, and 84.9% are U.S. citizens.

The median property value in West LA is $945,500, and the homeownership rate is 31.1%. Most people in West LA commute by Drove Alone, and the average commute time is 23.2 minutes. The average car own-ership in West LA is 2 cars per household.

3373 Robertson Boulevard is in the South Robertson neighborhood. South Robertson is the 16th most walk-able neighborhood in Los Angeles with a neighbor-hood Walk Score of 84.

3373 Robertson Boulevard is a four minute walk from the Metro E Line (Expo) at the Culver City Station stop.

NEARBY AMENITIES


SUBJECTPROPERTY ROBERTSON BLVD

ROBERTSON BLVD

ROBERTSON PLROBERTSON PL

EXP

OSI

TIO

N B

LVD

EXP

OSI

TIO

N B

LVD

VENICE BLVD

VENICE BLVD

THEPLATFORM

128K SF NEWCREATIVE OFFICE

NATIONAL BLVDNATIONAL BLVD

IVYSTATION

EXPO

LIN

EEX

PO L

INE

ADJACENT NEW MEGA DEVELOPMENTS

HBO is joining Apple and Amazon in setting up shop in Culver City, which is reemerging as a major entertainment industry hub more than a century after Thomas Ince built the city’s first film studio.

HBO will occupy all 240,000 square feet of office space at the 5.2-acre megaproject, using the building as its new corporate headquarters. Rising from the site of a former park-and-ride lot next to the Culver City light rail stop, Ivy Station will also include 200 apartments, 50,000 square feet of restaurant and retail space, and a 148-room hotel. Construction on the project is set to wrap up next year, with HBO arriving in 2021.

IVY STATION0.4 MILES FROM SUBJECT PROPERTY

This project featuring 128,000 square feet of creative office space is set to rise just across the street from the Ivy Station complex. It’s not yet complete, but has already been leased by Apple for its entertainment division (after HBO backed out and moved across the street). Developed by Lincoln Property Company and Clarion Partners, the project will incorporate more than 28,000 square feet of open space, including a large central courtyard and rooftop deck.

8777 WASHINGTON0.4 MILES FROM SUBJECT PROPERTY


The project, which would rise upon two vacant lots totaling 1.6 acres of land, calls for the construction of low-rise buildings featuring nearly 30,000 square feet of retail and restaurant space.

‒ Site A, located at the northwest corner of Washington and Centinela, is imagined as a one-story building featuring 21,605 square feet of space for artisanal food vendors, attached to a four-level parking structure with 184 vehicle stalls.

‒ Site B, located at the northeast corner of the intersection, is described will feature two one-story buildings offering 5,230 square feet of commercial space, with a 20-stall surface parking lot located at the back of the property.

MARKET HALL3.4 MILES FROM SUBJECT PROPERTY

The project, which sits direclty on the Los Angeles-Culver City border, would consist of a five-story building featuring 97 studio and one-bedroom apartments above 15,000 square feet of ground-floor retail space and approximately 200 underground parking spaces. In exchange for density bonus incentives from the City of Los Angeles, plans call for four units of affordable housing.

MIXED-USE DEVELOPMENT3.0 MILES FROM SUBJECT PROPERTY

NEARBY NEW DEVELOPMENTS

SUBJECTPROPERTY

MIXED-USE DEVELOPMENT

MARKET HALL

WESTDALE

MAR VISTA

MCLAUGHLIN

PARK WEST

STUDIO VILLAGE

CARLSON PARK

BLAIR HILLSCYPRESS GROVE

CULVER CITY

PALMS


EXPO-DOWNTOWN BICYCLE CONNECTOR

Plans to connect the Culver City Expo Line station to the Downtown Culver City shopping district have taken another step forward with the release of the project's feasibility study.

The recommended alternative calls for two-way protected bike lanes on:

• Washington Boulevard between Wesley Street and Ince Boulevard.

• Robertson Boulevard between Venice and Washington Boulevards.

A brief segment of raised two-way bike lanes would complete the connection to Town Plaza, which serves as the gateway to Downtown Culver City.

The project has been refined since first emerging in January through consultation with stakeholders along the proposed route, including Sony Pictures. Plans now call for a center turn lane to be retained through the project, as it provides access to Sony's Imageworks campus.

Consulting firm TranspoGroup has estimated that the bike lane connector would cost approximately $3 million. Culver City will still need to conduct a more detailed environmental review and cost estimate before the project reaches "shovel-ready," condition. When it reaches that point, it could be eligible for funding through sources such as the Measure R and Measure M local returns.

ROBERTSO

N PL

ROBERTSO

N PLROBERTSON BLVD

ROBERTSON BLVD

EXPOSITION BLVDEXPOSITION BLVD

VENICE BLVD

VENICE BLVD

WASHINGTON BLVD

WASHINGTON BLVD

CULVER

BLV

D

CULVER

BLV

D

SUBJECTPROPERTY

EXPO LINEEXPO LINE

CULVER CITYCASTING/SOUND

STUDIOS

SONY PICTURESANIMATION

AMAZONSTUDIOS

THE CULVERSTUDIOS

SONYSTUDIOS


4605 Lankershim Blvd, Suite 214 | Universal City, CA 91602818.212.3057 • www.hudsonpartnersinc.com

© 2020 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. 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.

www.hudsonpartnersinc.com

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.

JAY MARTINEZManaging Principal

c: 310.658.3375p: 818.212.3057f: 818.688.8140e: [email protected]

Cal BRE: 01367663

CONNOR MACLEODSenior Associate

c: 425.387.5540p: 818.699.1603f: 818.332.4977e: [email protected]

Cal BRE: 02083085

industrial zoning los angeles, ca 90034 residential ......changing the real estate marketplace in...

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