michaels - images1.loopnet.com · physical condition of the improvements thereon, or the financial...
TRANSCRIPT
G R O U P
BRANDON MICHAELS
SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
816 N. La Cienega Boulevard, Los Angeles, CA 90069
HIGH PROFILE STREET RETAIL IDEALLY LOCATED IN WORLD-RENOWN WEST HOLLYWOOD, CA
INVESTMENT ADVISORS:
BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) [email protected]: CA #01434685www.BrandonMichaelsGroup.com
SAM LIBEROWFirst Vice President InvestmentsNational Multi-housing GroupTel: (818) 212-2795Fax: (818) [email protected]: CA #01933858
G R O U P
BRANDON MICHAELS
SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
16830 Ventura Blvd. Suite 100, Encino, CA 91436www.marcusmillichap.com
CONFIDENTIALITY AND DISCLAIMER
The 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. © 2018 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICE
Marcus & 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 corpora-tion 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.
TEAM MEMBERSSean BrandtVaughn BrownBen BrownsteinNicole CottrellSteven SchechterAustin Sreden
TABLE OF CONTENTS
01
02
03
04
PROPERTY OVERVIEW
FINANCIAL ANALYSIS
COMPARABLES ANALYSIS
AREA OVERVIEW
PROPERTY OVERVIEW1
Rare opportunity to purchase in a strong rental market. Significant amount of movement and turnover in the immediate marketplace, creating an opportunity for new construction to enter the market and position the submarket for the future. Upon completion of surrounding developments and with continuing improvements to the immediate area, the West Hollyowood rental market will experience significant growth and offer outstanding returns for long term investors.
Median age: 39
Average household income within a 1 mile radius: $84,384
Population within a 5 mile radius: 832,111
West Hollywood is at the cultural and geographical heart of the Los Angeles region, surrounded by must-see hotspots in every direction.
• 1.2 million visitors came to West Hollywood last year
• $750 million dollars generated by tourism to our local economy last year
• 16,599 jobs supported by tourism in West Hollywood
DEVELOPMENT IN WEST HOLLYWOOD
DEMOGRAPHICS
AFFLUENT NEIGHBORHOOD
GLOBAL TOURISM DESTINATION
●
●
●
6
From the Sunset Strip to Melrose Avenue, West Hollywood never seems to sleep. There are clubs to be seen, live music to be heard, and coffee shops to work from. Fuel up with breakfast, brunch, lunch and dinner at a plethora of celebrity-frequented restaurants so that you can explore the lively neighborhood until the wee hours of the morning.
Scores of cutting-edge labels can be found in West Hollywood, from avant-garde brands to casually luxe clothing makers. Melrose Avenue is renowned throughout the world as one of Los Angeles’ most walkable and unique shopping destinations.
You can tuck your car away in a hotel garage and stroll to great restaurants, cafes, bars, nightclubs and shopping. Within the city’s 1.8 square miles, you can people-watch on the Sunset Strip, sightsee on Santa Monica Boulevard, stop at a great cafe or restaurant on Melrose Ave. and shop at the gorgeous boutiques of the West Hollywood Design District. It’s easy to sightsee in West Hollywood…all on foot!
DINING
SHOPPING
WEATHER
GETTING AROUND
Southern California’s persistently pleasant weather means it’s practically always the best time to visit West Hollywood. It’s sunny almost 300 days a year and the average high temperature in many parts of L.A. fluctuates less than 10 degrees through the year.
WHY BUY IN
WEST HOLLYWOOD?
7
8
9
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 816 North La Cienega Boulevard, a 3,927 square foot mixed-use retail and office building located just south of Santa Monica Boulevard and just North of Melrose Avenue in the heart of the highly sought-after neighborhood of West Hollywood, CA. Ideally located along La Cienega Boulevard, this high-profile location benefits from high daily traffic counts along a high-end retail thoroughfare. The subject property offers excellent frontage and visibility, benefiting from 41 feet of frontage along La Cienega Boulevard.
West Hollywood is at the cultural and geographical heart of the Los Angeles region, surrounded by must-see hot spots and lined with multi-million-dollar residences. Commonly known as WeHo, the neighborhood is among the top destinations in the world, and this irreplaceable location benefits from high daily traffic counts north of 35,000 vehicles per day. 816 North La Cienega Boulevard is ideally located in the heart of one of the most famously known locales for celebrities, wealthy residents, and tourists alike. There may be no greater concentration of high-end restaurants, retailers, boutiques, and night life than what is found in this world-famous neighborhood.
816 North La Cienega offers the unique opportunity to acquire a high-profile street retail property with flexibility in usages. The ground floor, which consists of approximately 2,000 square feet, is vacant, allowing
an Owner-User Buyer to immediately occupy the space will benefiting from the income stream resulting from the second story tenant. There is currently a lease in place for the second story, which is approximately, 1,927 square feet. The interior of the building has been highly upgraded, creating a modern business environment. There are eight parking spaces in the rear of the property.
816 North La Cienega creates a unique opportunity to acquire a well-located mixed-use building in one of Southern California’s best locations. The affluent surrounding demographic boasts an average income of $113,245 within a one-mile radius and a median household income of $84,384. There are over 46,000 people within one mile of the subject property and over 850,000 people within five miles. The subject property boasts a walk score of 88, making this a very walkable location with direct access to transit. 816 N. La Cienega is situated on 4,792 square feet of land zoned C4-1VL, and is located in a tier 3 Transit Oriented Community.
A WALKABLEDINING ANDSHOPPING DISTRICTBETWEENBEVERLY GROVE AND SUNSET STRIP
816 N. La Cienega Boulevard, Los Angeles, CA 90069
HIGH PROFILE STREET RETAIL IDEALLY LOCATED IN WORLD-
RENOWN WEST HOLLYWOOD, CA
10
INVESTMENT HIGHLIGHTS
• 2,000 square foot ground floor retail space is vacant, creating a unique opportunity for an Owner-User Buyer to immediate occupy the space and generate income from the second story office tenant
• Eight parking spaces in the rear of the property
• 4,792 square feet of land zoned C4-1VL
• Tier 3 TOC
• Ideally located on North La Cienega Boulevard, just south of Santa Monica Boulevard and just north of Melrose Avenue in world famous West Hollywood, CA
• High daily traffic counts north of 35,000 vehicles per day
• Highly walkable location with a walk score of 88
• Close proximity to high end restaurants, retailers, boutiques, and night life option
• Major hotspots and destinations in the immediate area, including the world-famous Sunset Strip, Santa Monica Boulevard, Melrose Avenue, and Robertson Boulevard
• There may be no greater concentration of high-end restaurants, retailers, boutiques, and night life than what is found in this world-famous neighborhood
• West Hollywood is one of the most famously known locales for celebrities, wealthy residents, and tourists alive
• Average income of $113,245 within a one-mile radius
• Median household income of $84,384 within a one-mile radius
• Over 46,000 people within one mile of the subject property and over 850,000 people within five miles
• Over 27,000 households within one mile
IDEAL OWNER-USER OR INVESTMENT OPPORTUNITY
ICONIC WEST HOLLYWOOD SUBMARKET AFFLUENT AND DENSE HIGH-END DEMOGRAPHICS
IRREPLACEABLE LA CIENEGA BOULEVARD LOCATION
Bloomingdale'sMacy'sPradaGucciFendiTiffany & CoLouis Vuitton
VersaceSalvatore FerragamoPiazza LoungeSaint Laurent ParisBurberryDolce & GabbanaMCM
BEVERLY CENTER
MELROSE AVENUE
AppleAthletaAnthropologieBarnes & NobleBanana RepublicCoachCrate & BarrelFreshGAPLe LaboTopshop TopmanSephoraNordstrom
THE GROVE
Blue Jam CafeUrth CafeBCBG MaxazriaDieselJoieMarc JacobsSweet Lady JaneNARSInk Sack
KitsonMoniue LhuillierRevolve ClothingJonathan AdlerTheoryJohnny CupcakesAlexander McQueenTenoversix
MELROSE AVENUE
Alexandar McQueenBalenciagaBottega VenetaBulgariBurberryCartierChanel
CoachDiorDolce & GabbanaFendiGucciHermesLouis Vuitton
RODEO DRIVE
816 N. La Cienega Boulevard, Los Angeles, CA 90069
11
PROPERTY HIGHLIGHTS
PROPERTY INFORMATION
SUMMARY OF TERMS
FINANCIAL INFORMATION
PROPERTY TYPE: Storefront Retail
BUILDING SF: 3,927 SF
LAND SF: 4,963 SF
APN NUMBER: 5529-006-059
ZONING: C4
PRICE: $4,700,000
PRICE/SF (BUILDING): $1,197
PRICE/SF (LAND): $947
CURRENT OCCUPANCY: 49%
PRO FORMA CAP RATE: 4.79%
A HIGH PROFILE STREET RETAIL
PROPERTY WITH FLEXIBILITY IN USAGES
Interest Offered:100% fee simple interest in 816 N. La Cienega Boulevard, a 3,927 SF retail building located on 4,963 SF of land in Los Angeles, CA 90069.
Terms of the Sale:Property is being offered on a free and clear basis.
Property Tours:Prospective purchases are encouraged to visit the site and review all due diligence materials prior to submitting offers. Access to an outline due diligence is available portal. All property tours must be coordinated through the listing team.
4.79%PRO FORMA CAP RATE
$1,197PRICE/SF (BUILDING)
$947PRICE/SF (LAND)
12
816 N. La Cienega Boulevard, Los Angeles, CA 90069
13
BEVERLY GROVE
WEST HOLLYWOOD WEST
BEVERLY HILLS
CENTURY CITY
LA CIENEGA BOULEVARD
WARING AVENUE
816 N. La Cienega Boulevard, Los Angeles, CA 90069
THE INTERIOR OF THE SECOND FLOOR HAS BEEN HIGHLY UPGRADED, CREATING A MODERN BUSINESS ENVIRONMENT
14
PROPERTY DETAILS
SITE
The subject property is located on La Cienega Boulevard between Waring Avenue and Willoughby Avenue.
TRAFFIC COUNTS
The traffic counts along La Cienega Boulevard are about 34,000 vehicles per day.
SQUARE FOOTAGE
The total building square footage is 3,927 SF. The total land square footage is 4,963 SF.
ZONING
The zoning is C4.
PARKING
8 parking spaces are available; Ratio of 2.04/1,000 SF.
APN NUMBER
The APN Number is 5529-006-059.
3,927TOTAL BUILDING SF
4,963TOTAL LAND SF
8PARKING SPACES
34,000 +TRAFFIC COUNTS ON LA CIENEGA BLVD
88WALK SCORE
15
FINANCIAL ANALYSIS2
18
FINANCIAL ANALYSIS
TENANT SF SF % LEASE EXPIRATION RENT RENT/SF PRO FORMA RENT PRO FORMA RENT/SF LEASE TYPE
Vacant 2,000 51% $12,000.00 $6.00 NNN
Anthony Textile 1,927 49% 10/31/2022 $5,332.50 $2.77 $6,744.50 $3.50 MG
TOTAL 3,972 100% - $5,332.50 $18,744.50 $4.77 -
ANTHONY TEXTILE LEASE SCHEDULE
11/1/2019 - 10/31/2020 The greater of $5,492.48 or Fair Market Rent
11/1/2020 - 10/31/2021 The greater of $5,657.25 or Fair Market Rent
11/1/2021 - 10/31/2022 The greater of $5,657.25 or Fair Market Rent
RENT ROLL
ANNUALIZED OPERATING DATAINCOME AND EXPENSE CURRENT PRO FORMA
Scheduled Lease Income $63,990 $224,934
NNN Charges $69,093
Effective Gross Income $243,178
Expenses $69,093 $69,093
Net Operating Income -$5,103 $224,934
EXPENSE BREAKDOWN PER YEAR PER SF
Taxes @ 1.25% $58,750 $14.96
Insurance $3,434 $0.87
Repairs & Maintenance $1,964 $0.50
Reserves $785 $0.20
Management $2,560 $0.65
Gardening $1,600 $0.41
Total $63,468 $17.59/$1.47
PRICING
Price $4,700,000
Pro Forma CAP Rate 4.79%
Building SF 3,927 SF
Price Per SF (Building) $1,197
Land SF 4,963 SF
Price Per SF (Land) $947
19
816 N. La Cienega Boulevard, Los Angeles, CA 90069
COMPARABLES ANALYSIS3
22
SALES COMPARABLES
# PRICE BUILDING SF LAND SF PRICE/SF
(BLDG)PRICE/SF(LAND) ZONING SALES DATE
1 638 N Doheny DrWest Hollywood, CA 90069 $3,243,000 2,000 3,920 $1,621.50 $827.21 C2A, West
Hollywood 1/3/2019
2 841 N La Cienega BlvdLos Angeles, CA 90069 $5,500,000 3,650 6,024 $1,506.85 $912.96 C4, Los
Angeles 2/28/2019
3 8460 Santa Monica BlvdWest Hollywood, CA 90069 $4,472,771 4,233 5,663 $1,056.64 $789.85 C2 12/13/2018
4 501-511 N La Cienega BlvdWest Hollywood, CA 90048 $10,600,000 15,875 11,326 $667.72 $935.93 WDC2A* 03/29/2019
5 805 N La Cienega BlvdLos Angeles, CA 90069 $10,100,000 8,986 11,326 $1,123.97 $891.78 C4, Los
Angeles 9/12/2017
Average $6,783,154 6,949 7,652 $1,195.34 $871.55 - -
23
$1,195AVG PRICE/SF (BUILDING)
816 N La Cienega Blvd
1 638 N Doheny Dr
2 841 N La Cienega Blvd
3 8460 Santa Monica Blvd
4 501-511 N La Cienega Blvd
5 805 N La Cienega Blvd
SALES COMPARABLES | PRICE / SF (BLDG)
$872AVG PRICE/SF (LAND)$0.00
$200.00
$400.00
$600.00
$800.00
$1,000.00
$1,200.00
$1,400.00
$1,600.00
$1,800.00
638 N Doheny Dr 841 N La Cienega Blvd 8460 Santa MonicaBlvd
501-511 N La CienegaBlvd
805 N La Cienega Blvd Average
$1,621.50 $1,506.85
$1,056.64
$667.72
$1,123.97
$1,195.34
1
2
3
4
5
816 N. La Cienega Boulevard, Los Angeles, CA 90069
24
RENT COMPARABLES
# RENTABLE SF SF LEASED RENT/SF/MONTH
RENT/SF/YEAR LEASE TYPE LEASE START
1 930-936 N La Cienega BlvdWest Hollywood, CA 90069 2,500 1,000 $7.50 $90.00 Full Services Sep 2019
2 826 N La Cienega BlvdWest Hollywood, CA 90069 5,000 5,000 $5.00 $60.00 Full Services Aug 2019
3 927 N La Cienega BlvdLos Angeles, CA 90069 2,850 2,850 $7.00 $84.00 Modified
Gross Jul 2019
4 947 N La Cienega BlvdWest Hollywood, CA 90069 3,140 1,100 $2.80 $33.60 +ELEC Mar 2019
5 1106-1112 N La Cienega Blvd Los Angeles, CA 90069 15,367 2,500 $6.00 $72.00 NNN Nov 2018
6 926-928 N La Cienega BlvdWest Hollywood, CA 90069 4,400 2,200 $6.00 $72.00 Modified
Gross Oct 2018
7 1017 N La Cienega BlvdWest Hollywood, CA 90069 16,000 1,956 $3.25 $39.00 Modified
Gross Apr 2018
8 1017 N La Cienega BlvdWest Hollywood, CA 90069 16,000 2,627 $2.95 $35.40 Modified
Gross Apr 2018
AVERAGE 8,157 2,404 $5.06 $60.75 - -
25
$5.06AVG RENT/SF/MONTH
RENT COMPARABLES | RENT/SF/MONTH
$60.75AVG RENT/SF/YEAR
$0.00$1.00$2.00$3.00$4.00$5.00$6.00$7.00$8.00
930-936 N LaCienega Blvd
826 N LaCienega Blvd
927 N LaCienega Blvd
947 N LaCienega Blvd
1106-1112 NLa Cienega
Blvd
926-928 N LaCienega Blvd
1017 N LaCienega Blvd
1017 N LaCienega Blvd
Average
$7.50
$5.00
$7.00
$2.80
$6.00 $6.00
$3.25 $2.95
$5.06
6
2
13
4
7 8
5
816 N La Cienega Blvd
1 930-936 N La Cienega Blvd
2 826 N La Cienega Blvd
3 927 N La Cienega Blvd
4 947 N La Cienega Blvd
5 1106-1112 N La Cienega Blvd
6 926-928 N La Cienega Blvd
7 1017 N La Cienega Blvd
8 1017 N La Cienega Blvd
816 N. La Cienega Boulevard, Los Angeles, CA 90069
AREA OVERVIEW4
AREA OVERVIEW
WEST HOLLYWOODWest Hollywood is a trendy area known for its high-energy nightlife. The fabled Sunset Strip features the Chateau Marmont, a swanky celebrity hideaway, plus comedy clubs and live music venues. West Hollywood is bounded by the city of Beverly Hills on the west, and
on other sides by neighborhoods of the city of Los Angeles: Hollywood Hills on the north, Hollywood on the east, the Fairfax District on the southeast, and Beverly Grove on the southwest.
DININGFrom the Sunset Strip to Melrose Avenue, West Hollywood never seems to sleep. There are clubs to be seen, live music to be heard, and coffee shops to work from. Fuel up with breakfast, brunch, lunch and dinner at a plethora of celebrity-frequented restaurants so that you can explore the lively neighborhood until the wee hours of the morning.
SHOPPINGMelrose Avenue is one of L.A.’s most famous streets, featuring a myriad of shopping. Melrose runs north of Beverly Boulevard and south of Santa Monica Boulevard. Along its "west end," Melrose Avenue is all about strolling and shopping, so bring dough and plenty of it. The street begins at Santa Monica Boulevard where the cities of Beverly Hills and West Hollywood meet, otherwise known as the intersection of posh and funky.
ONE OF CALIFORNIA’S MOST ICONIC NEIGHBORHOODS
28
29
AREA OVERVIEWMAJOR EMPLOYERS:
POINTS OF INTEREST: PROXIMATE TO:
NEARBY RETAIL:• Cedar Sinai Medical Center• UCLA• Kaiser Permanente Medical center• Fox Studios• Paramount Pictures• Los Angeles County• Capitol Records• ABC• CBS
• Downtown Los Angeles• Tri-Cities (Burbank/Glendale/Pasadena)• Century City• West Los Angeles• Santa Monica• San Fernando Valley
• LACMA• Pacific Design Center• La Brea Tar Pits• El Rey Theatre• Beverly Hills
• Beverly Center• Beverly Connection• The Grove• Farmer’s Market at The Grove• Melrose Avenue • Beverly Hills Restaurant Row• Rodeo Drive• Robertson Boulevard
Farmers Market Beverly HillsBeverly CenterPacific Design CenterSunset Strip
AREA OVERVIEWLA CIENEGA BOULEVARD & RESTAURANT ROW
La Cienega Boulevard is a major north–south arterial road that runs between El Segundo Boulevard in Hawthorne, California on the south and the Sunset Strip/Sunset Boulevard in West Hollywood to the north. It was named for Rancho Las Cienegas, literally "The Ranch Of The Swamps," an area of marshland south of Rancho La Brea.
La Cienega Boulevard is a surface street and one of the “Westside of Los Angeles” major thoroughfares. Offices for A&E Network, The History Channel and the Academy of Motion Picture Arts and Sciences are located on La Cienega as are the studios of Citadel Broadcasting flagships KABC and KLOS, two of Los Angeles’ biggest radio stations. A portion of La Cienega in and adjacent to Beverly Hills is known as “Restaurant Row” for its large number of upscale restaurants including Fogo de Chao, The Bazaar by Jose Andres, Morton’s, and the original Lawry’s the Prime Rib.
WALKER’S PARADISE88/100 WALKSCORE
MAJOR RETAILERS:
30
31
• SUNSET STRIPFrom the heights of swank hotel rooftops like the Mondrian’s SkyBar and the Tower Bar at Sunset Tower Hotel, to the glam-grunge of rock clubs like The Viper Room and Whisky a Go Go, there’s a setting to suit your style and mood. In addition to clubs with music ranging from indie singer/songwriters to major headliners, there are iconic comedy clubs such as The Laugh Factory and the Comedy Store. The Sunset Strip isn’t just rock and roll. Spend the afternoon shopping at Sunset Plaza, which contains more than 20 stores, like Armani Exchange and H&M. Book lovers, don’t miss the iconic Book Soup, L.A.’s largest independent book store, with floor-to-ceiling shelves that contain more than 60,000 titles, many of which are limited edition. The store hosts frequent author readings, so check its calendar to meet your favorite novelist or hear from up-and-comers.
• MELROSE AVENUEMelrose Avenue is renowned throughout the world as one of Los Angeles’ most walkable and unique shopping, dining and entertainment destinations. Downtown Melrose encompasses the 22 blocks along Melrose Avenue that stretch from Fairfax to Highland. More than 300 alternative and independent stores offer a wide array of merchandise found nowhere else in the city.
• BEVERLY GROVE Beverly Grove is a bustling shopping and dining district. Named in part for The Grove, a popular outdoor mall that it borders, the area also features the Beverly Center, a slick, 8-story retail behemoth. Fashionistas browse the upscale boutiques along Melrose Avenue and Robertson Drive. Buzzy restaurants include see-and-be-seen classics such as The Ivy, plus high-end sushi spots, vegan cafes and celeb-chef spots.
AREA OVERVIEW
NEARBY AREAS
31
32
Total Population of West Hollywood, CA.
MALE FEMALE
36,854
41%59%EDUCATION
The Median Age is 39.6.
High School Graduate10%
Master’s Degree or Higher18%
Bachelor’s Degree46%
Some College or Associates Degree22%
DEMPOGRAPHICS
BUSINESSES
West Hollywood is home to innovative industries and a magnet for highly skilled professionals. Companies ranging from retail, tourism and nightlife, restaurants, entertainment and media, as well as arts and design are drawn to West Hollywood’s creative workforce as well as its high quality of life.
• Metro• IAC/CityGrid Media• City of West Hollywood
• Sunset Marquis• London West Hollywood• Standard Hotel
• Mondrian Hotel• Andaz West Hollywood• Saddle Ranch Chop House
TOP EMPLOYERS
33
97,792Owner Occupied Households
within 5-m radius
267,139Renter Occupied Households
within 5-m radius
58,519Businesses within a 5-m radius
$113,245Average HH income within
5-m radius
$113,245Median HH income within
1-m radius
832,111Population within
5-m radius
1 MILE 3 MILES 5 MILES
2019 Population 45,397 269,596 832,111
2019 Households 27,404 139,431 364,930
2019 Average Household Size 1.60 1.90 2.20
2019 Median Household Income $84,384 $76,229 $62,878
2019 Average Household Income $113,245 $109,351 $96,216
2019 Owner Occupied Households 8,065 37,827 97,792
2019 Renter Occupied Households 19,339 101,604 267,139
<$25,000 4,343 27,139 83,676
$25,000 - $50,000 3,937 21,248 69,605
$50,000 - $75,000 3,855 20,512 54,243
$75,000 - $100,000 4,176 16,600 39,876
$100,000 - $125,000 2,656 12,108 28,958
$125,000 - $150,000 1,756 8,013 17,143
$150,000 - $200,000 2,309 11,551 23,848
$200,000+ 4,373 22,259 47,583
BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) [email protected]: CA #01434685www.BrandonMichaelsGroup.com
G R O U P
BRANDON MICHAELS
SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
SAM LIBEROWFirst Vice President InvestmentsNational Multi-housing GroupTel: (818) 212-2795Fax: (818) [email protected]: CA #01933858