MIXED-USE / MULTIFAMILY DEVELOPMENT OPPORTUNITY · Los Angeles, CA 90067 Lic. #01201641 JANET D....

CHARLES DUNN COMPANY1925 Century Park EastSuite 2350Los Angeles, CA 90067Lic. #01201641www.charlesdunn.com

JANET D. NEMANSenior Managing Director

Lic #01069127Direct | 310.996.2210

[email protected]

JOHN C. ANTHONY Senior Managing Director

Lic #01226464 Direct | 213.534.3245

[email protected]

MIXED-USE / MULTIFAMILY DEVELOPMENT OPPORTUNITY 3701 STOCKER STREET | LOS ANGELES, CA 90008

Santa

Rosalia

Driv

eStocker Street

JANET D. NEMANSenior Managing Director

Lic. #01069127Direct | 310.996.2210

[email protected]

EXCLUSIVELY LISTED BY:

3 EXECUTIVE SUMMARY

PROPERTY OVERVIEW

9 PROPERTY EXPENSES & RENT ROLL

12 COMPARABLES

19 MARKET OVERVIEW

3701 Stocker StreetLos Angeles, CA 90008

CHARLES DUNN COMPANY1925 Century Park East

Suite 2350Los Angeles, CA 90067

Lic. #01201641www.charlesdunn.com

4JOHN C. ANTHONY

Senior Managing Director Lic #01226464

Direct | 213.534.3245 [email protected]

© Charles Dunn Company, Inc. These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including land use limitations. BRE Lic. #01201641

3701 Stocker Street, Los Angeles, CA 90008 | Charles Dunn Company | 3

EXECUTIVE SUMMARYCharles Dunn Company, Inc. is proud to offer the sale of 3701 Stocker Street, a mixed-use / multifamily redevelopment opportunity in a prime South Los Angeles location within close proximity to the planned redevelopment of the Baldwin Hills Crenshaw Plaza. The Plaza is planned to add more than 300K SF of retail and restaurant space, a 400-room hotel, a 10-story office building, 551 condos and 410 apartments.

The Property is comprised of ±80,611 square feet (1.85 acres) of land. The offering includes one parcel zoned C-2 and provides the opportunity to build up to 250 residential units based on the current zoning. With a tremendous demand for residential and urban mixed-use in the immediate area, this redevelopment would supplement the over 950 units currently under construction within a one-mile radius.

In close proximity to Baldwin Hills, Inglewood, Culver City, Ladera Heights, Leimert Park and Fox Hills, the Property is ideally positioned in a dense residential and retail submarket in the extremely high traffic, gentrified area of Baldwin Hills. With a Walk Score of 88, future residents of this site will have access to nearby dining, retail, medical and entertainment amenities on foot. Within less than a 4-minute drive or 17-minute walk, future tenants will have access to the Exposition Line with service to 7th Street/Metro Center in Downtown Los Angeles to Downtown Santa Monica. Future residents of the site will also benefit from the Crenshaw/LAX transit line that is anticipated to be completed in 2019 with eight new stations servicing Expo Crenshaw, Inglewood, Westchester, through to LAX.


PROPERTY OVERVIEW

SITE ADDRESS 3701 Stocker StreetLos Angeles, CA 90008

OFFERING PRICE $13,995,000

BUILDING SF ±44,990 SF

BUILDING PRICE / SF $311.07

TOTAL APPROXIMATE LOT SIZE ±80,611 SF (1.85 AC)PRICE / SF OF LAND $173.61

CURRENT ZONING C-2ASSESSOR’S PARCEL NUMBER 5032-022-018

SHAPE Rectangular

COUNCIL DISTRICT Council District 8 - Marqueece Harris-Dawson PROPOSED USE Mixed-use / MultifamilyCURRENT ENTITLEMENTS NonePARKING 195 (5 handicap)

*Estimated lot size is per tax assessor records - buyer to verify

INVESTMENT SUMMARY

• Situated on a signalized corner

• Across from Baldwin Hills/Crenshaw Plaza

• Close proximity to Baldwin Hills, View Park, Leimert Park and Windsor Hills communities

• Abundant parking with lot in rear of building

INVESTMENT HIGHLIGHTS

“Very Walkable” Walk Score 88


PROPERTY MAPS

Santa Rosalia Drive

Stocker Street


SITE PLAN / PARKING OVERVIEW


PROPERTY AMENITIES

PLAZA

KOREATOWNWEST HOLLYWOOD HOLLYWOOD

DTLA


PROPERTY DRONE VIDEOINTERACTIVE LINK CLICK TO VIEW DRONE VIDEO

https://www.youtube.com/watch?v=8PgIz3ZGm3g


INCOME & EXPENSES OVERVIEW

REVENUE

4100-0000 RENTAL INCOME –

4500-0000 Rent $655,217.79

4550-0000 Prepaid Rent Income $4,686.16

5490-0000 Total Rental Income $659,903.95

5600-0000 OTHER INCOME –

5710-0000 Parking Income $150.00

5800-0000 Late Fee Income $2,190.68

5890-0000 TOTAL OTHER INCOME $2,340.68

5990-0000 TOTAL REVENUE $662,244.63

EXPENSES

6150-0000 Maintenance Payroll $25,859.55

6210-0000 Repair $12,962.41

6215-0000 Repair & Maint Supplies $8,906.54

6220-0000 Janitorial & Sweeping $21,240.00

6221-0000 Janitorial Supplies $4,190.67

6231-0000 Electrical Repair $3,815.00

6240-0000 HVAC (Heat, Ventilation, Air) $15,473.55

6250-0000 Elevator Inspection & Repair $10,712.24

6271-0000 Carpet Cleaning $2,370.00

6305-0000 Alarm & Fire Monitoring Svc $1,966.79

6310-0000 Security Service $10,829.00

6320-0000 Insurance $10,826.25

6350-0000 Property Tax $43,700.24

6410-0000 Electricity $74,701.41

6420-0000 Gas $8,996.89

6430-0000 Water $6,588.11

6431-0000 Plumbing $4,538.00

6450-0000 Trash Disposal $6,615.10

6455-0000 Storage Fee $1,358.20

6990-0000 TOTAL DIRECT EXPENSES $275,649.95

7999-0000 NET OPERATING INCOME $386,594.68

Period: January 2016 - December 2016


INCOME & EXPENSES OVERVIEW

REVENUE PERIOD TO DATE

4100-0000 RENTAL INCOME

4500-0000 Rent $345,724.23

4550-0000 Prepaid Rent Income (-$4,572.10)

5490-0000 Total Rental Income $341,152.13

5600-0000 OTHER INCOME

5710-0000 Parking Income $150.00

5800-0000 Late Fee income $741.60

5890-0000 TOTAL OTHER INCOME $891.60

5990-0000 TOTAL REVENUE $342,043.73

EXPENSES PERIOD TO DATE

6150-0000 Maintenance Payroll $12,207.50

6210-0000 Repair & Maint Supplies $13,408.56

6215-0000 Janitorial & Sweeping $12,159.00

6220-0000 Electrical Repair $910.00

6221-0000 HVAC (Heat, Ventilation, Air) $4,825.03

6231-0000 Elevator Inspection & Repair $4,384.52

6240-0000 Carpet Cleaning $1,110.00

6250-0000 Alarm & Fire Monitoring Svc $758.78

6271-0000 Security Service $4,872.00

6305-0000 Insurance $6,417.24

6310-0000 Property Tax $21,993.48

6320-0000 Electricity $30,955.48

6350-0000 Gas $5,541.98

6410-0000 Sewer $877.73

6420-0000 Water $1,542.78

6430-0000 Plumbing $2,508.13

6431-0000 Trash Disposal $3,656.01

6450-0000 Storage Fee $885.00

6990-0000 TOTAL DIRECT EXPENSES $129,013.22

7999-0000 NET OPERATING INCOME $213,030.51

Period: January 2017 - June 2017


RENT ROLLUNIT TENANT UNIT SQFT NAME MARKET RENT ACTUAL RENT TENANT DEPOSIT OTHER DEPOSITS MOVE IN LEASE EXPIRATION

100A Nichols 398 Alicia Nichols and Shaneatha Sutton $1,200.00 $600.00 $600.00 $0.00 2/1/2014 –

101 S100-101 3,542 Elizabeth J Covington M.D, Inc. $8,855.00 $6,022.00 $2,043.00 $0.00 10/1/2004 2/28/2021

102 Empower 1,350 Empowered for Excellence $3,037.00 $2,472.00 $2,400.00 $0.00 11/1/2015 10/31/2018

104 Stanne1 0 St Anne's Organization $0.00 – $0.00 $0.00 1/1/2016 12/31/2020

105 Stanne 3,542 St. Anne's Organization $0.00 $9,210.00 $14,000.00 $0.00 3/1/2016 12/31/2020

106 Gentle 475 Gentle Care Inc. $1,187.00 $1,000.00 $1,000.00 $0.00 4/1/2016 5/31/2021

200 S200-202 1,860 Eggleston Youth Center, Inc. $0.00 $4,851.56 $4,185.00 $0.00 4/1/2010 4/15/2019

201 Sharon 770 Sharon Blackburn $1,925.00 $1,551.67 $0.00 $0.00 4/1/2012 –

203 Ciwp 1,898 Community Integrated Work Program, Inc. $0.00 $3,523.25 $3,321.00 $0.00 8/1/2015 7/31/2018

204 Vacant 2,318 Vacant – – – – – –

205 Eyc 2,340 Eggleston Youth Center, Inc. $0.00 $4,784.48 $4,411.00 $0.00 6/1/2011 9/30/2020

206 Tamos 622 Tracee Amos and Stacee Lee $0.00 $1,154.25 $1,100.00 $0.00 5/1/2015 4/30/2018

208 Neighor 606 City of Los Angeles/ neighborhood Council $1,550.00 $850.00 $0.00 $0.00 12/1/2015 5/31/2018

301 Children 2,028 The Children's Collective, Inc. $4,563.00 $3,765.13 $3,549.00 $0.00 6/1/2013 –

302 Childre2 0 The Children's Collective, Inc. $0.00 – $0.00 $0.00 – –

304 S304 1,428 Ralph Callender D.D.S. Dental Group $3,570.00 $2,652.25 $0.00 $0.00 2/1/2004 3/31/2018

305 Kdavis 1,180 Keith Davis $2,655.00 $1,992.15 $1,770.00 $0.00 11/1/2012 10/31/2017

306 Chamber 648 Infinity Chamber of Commerce $1,552.00 $772.50 $1,000.00 $0.00 5/1/2013 –

306B Barnes 648 Ernestine G. Barnes $1,550.00 $874.18 $800.00 $0.00 5/1/2014 –

310 Baker 1,320 The Baker Group and Kaliedascope Consult $3,300.00 $1,750.00 $1,750.00 $0.00 4/1/2012 –

402 Amanecer 2,162 Timothy J Ryder Amanecer Community Services $0.00 $4,472.75 $4,216.00 $0.00 6/1/2015 5/31/2019

403 Ronald 396 Ronald Smothers $990.00 $700.00 $700.00 $0.00 7/1/2014 –

404 Con404 900 Jason Balfany Congregate Connect, LLC $2,025.00 $1,500.00 $1,500.00 $0.00 4/1/2016 3/31/2018

409 S409 1,252 La Toya Morris DDS, Inc. $3,500.00 $2,200.00 $0.00 $0.00 11/1/2003 –

410 Fralin1 1,136 Fralin Commercial $2,840.00 $2,000.00 $0.00 $0.00 11/1/2013 –

412 Black 710 Black Business Association $1,600.00 $1,318.17 $1,500.00 $0.00 10/1/2012 –

TOTAL $45,899.00 $60,016.34 $49,845.00 $0.00


ADDRESS CITY PROPERTY INFO SALE PRICE

1 1168 W 36th Pl Los Angeles Building Size: 25,032 SF $8,250,000 ($329.58/SF)

2 4143 Buckingham Rd Los Angeles Building Size: 23,948 SF $4,481,928 ($187.15/SF)

34551-4611 W Martin Luther King Jr Blvd

Los Angeles Building Size: 334,155 SF $44,000,000 ($131.68/SF)

4 3701 Montclair St Los Angeles Building Size: 36,530 SF $2,212,500 ($216.26/SF)

5 4105 Somerset Dr Los Angeles Building Size: 12,122 SF $2,212,500 ($182.51/SF)


1 4018-4024 Gelber Pl Los Angeles Building Size: 16,636 SF $3,050,000 ($183.38/SF)

2 1915 Martin LutherKing Jr Blvd Los Angeles Building Size: 9,756 SF $2,195,000

($224.99/SF)

3 4028 Palmwood Dr Los Angeles Building Size: 7,371 SF $1,320,000 ($179.08/SF)

4 3915 Stevely Ave Los Angeles Building Size: 8,816 SF $1,750,000($198.50/SF)

54046, 4052, &

4066 CoCo AveLos Angeles Building Size: 50,380 SF $8,800,000

($174.67/SF)

CLOSED SALE COMPARABLES

AVERAGE PRICE PER SF: $200.78

1

2 23

43

4

ON MARKET COMPARABLES

MULTIFAMILY COMPARABLES

551


RESIDENTIAL RENT COMPARABLESNUMBER PROPERTY

ADDRESSBUILDING

SFYEAR BUILT

NO. OF UNITS UNIT MIX RENT UNIT SF

3701 Stocker Street Los Angeles, CA 44,990 1959 - - - - - - - -

1 4717 Don Lorenzo Drive Los Angeles, CA 28,480 1963 23 2 + 2 $2,195 1,200

24555 West Martin Luther King Jr. Boulevard Los Angeles, CA

334,155 1964 276 1 + 1 2 + 2

$1,625 $1,980

830 1,040

34928 West Martin Luther King Jr. Boulevard Los Angeles, CA

310,800 1951 444 1 + 1 2 + 1

$1,621 $1,885

650 810

4 4616 Rodeo Road Los Angeles, CA 369,598 1951 425 1 + 1 $1,450 730

5 3463 Virginia RoadLos Angeles, CA 4,160 1931 4 1+1 $1,850 910

6 6233 South La Brea LaneLos Angeles, CA 94,775 1850 125 1+1

2+1$1,413-$1,713

$1,836 - $2,186615810

PROPERTY


NUMBER PROPERTY ADDRESS

BUILDING SF

YEAR BUILT

NO. OF UNITS UNIT MIX RENT UNIT SF

7 3916 Crenshaw Boulevard Los Angeles, CA 20,267 1941 56 1 + 1 $1,570 500

8 3750 Santa Rosalia Drive Baldwin Hills, CA 77,076 2010 70 2 + 2 $2,600 1,150

9 3740 Santa Rosalia Drive Los Angeles, CA N/A 2008 102 2 + 2 $2,400 1,000

10 3932 Stevely Avenue Los Angeles, CA 18,422 1,958 21 2 + 2 $2,095 982

11 4757-4811 W. Slauson AvenueLos Angeles, CA 43,694 1956 65

1+12+12+2

$1,454-$1,655$2,280$2,065

550-750900-1,000

1,000

PROPERTY

RESIDENTIAL RENT COMPARABLES


RESIDENTIAL RENT COMPARABLES MAP

3701 Stocker Street Los Angeles, CA

1 4717 Don Lorenzo Drive Los Angeles, CA

2 4555 West Martin Luther King Jr. Boulevard Los Angeles, CA

3 4928 West Martin Luther King Jr. Boulevard Los Angeles, CA

4 4616 Rodeo Road Los Angeles, CA

5 3463 Virginia RoadLos Angeles, CA

6 6233 South La Brea LaneLos Angeles, CA

7 3916 Crenshaw Boulevard Los Angeles, CA

8 3750 Santa Rosalia Drive Baldwin Hills, CA

9 3740 Santa Rosalia Drive Los Angeles, CA

10 3932 Stevely Avenue Los Angeles, CA

11 4757-4811 West Slauson AvenueLos Angeles, CA

1

234

8

6

7

5

1 1

1 0

9



1 3844 27th St Los Angeles 12,354 SF Land Parcel $1,850,000($149.75/SF)

2 3300-3314 Jefferson Blvd Los Angeles 20,708 SF Land Parcel $3,100,000($149.70/SF)

3 4615 W Slauson Ave Los Angeles 36,590 SF Land Parcel $1,699,000($46.43/SF)

4 4529 Don Ricardo Dr Los Angeles 14,572 SF Land Parcel $795,000($54.56/SF)


1 4203 W Jefferson Blvd Los Angeles 7,510 SF Land Parcel $1,250,000($166.45/SF)

2 4604-4612 S Western Ave Los Angeles 11,574 SF Land Parcel $699,000($60.39/SF)

3 4917 W Adams Blvd Los Angeles 2,949 SF Land Parcel $655,000($222.03 SF)

4 6325 Crenshaw Blvd Los Angeles 10,790 SF Land Parcel $600,000($55.61/SF)


1

1

2

4

3

3

4

2CLOSED SALE COMPARABLES


LAND COMPARABLES



1 2160 W Adams Blvd Los Angeles 26,114 SF Class C Office Building $6,250,000($239/SF)

2 5830 Rodeo Rd Los Angeles 40,000 SF Class C Office Building $14,995,000($375/SF)

3 1818 S Western Ave Los Angeles 43,225 SF Class B Office Building $15,000,000($347/SF)

4 4401 Wilshire Blvd Los Angeles 41,730 SF Class B Office Building $26,500,000($635/SF)


1

5100-5110W Goldleaf Cir Los Angeles 185,496 SF Class A Office

567,108 Total SF $135,300,000

($239/SF)

5105 W Goldleaf Cir Los Angeles 25,503 SF Class B Office/Medical

5120 W Goldleaf Cir Los Angeles 104,162 SF Class A Office

5140-5150 W Goldleaf Cir Los Angeles 200,890 SF Class A Office

5035 W Slauson Ave Los Angeles 16,057 SF General Multi-Property Retail/Storefront Retail/Office

5045 W Slauson Rd Los Angeles 37,000 SF GeneralRetail/Health Club

2

3731 Stocker St Los Angeles 19,936 SF Class B Office

79,744 Total SF$13,327,500

($167/SF)

3741 Stocker St Los Angeles 19,936 SF Class B Office

3751 Stocker St Los Angeles 19,936 SF Class C Office/Medical

3761 Stocker St Los Angeles 19,936 SF Class B Office/Medical

3 2116 Arlington Ave Los Angeles 32,098 SF Class C Office $5,850,000($182/SF)

4 5900 Blackwelder St Los Angeles 42,498 SF Class B Office $12,000,000($282/SF)



1

1

2

3

4

3

4

2


OFFICE COMPARABLES



1 2160 W Adams Blvd Los Angeles 26,114 SF Class C Office Building $6,250,000($239/SF)

2 301 N Prairie Ave Inglewood 85,314 SF Class A Office Building $11,250,000($132/SF)

3 1818 S Western Ave Los Angeles 43,225 SF Class B Office Building $15,000,000($347/SF)


1 5105 W Goldleaf Cir Los Angeles Part of a 6 property portfolio totaling 566,831 SF Class B Office/Medical

$135,300,000($239/SF)

2 5045 W Slauson Rd Los Angeles Part of a 6 property portfolio totaling 566,831 SF General Retail/Health Club

$135,300,000($239/SF)

3 3751 Stocker St Los Angeles Part of a 4 property portfolio totaling 79,744 SF Class C Office/Medical

$13,327,500 ($167.13/SF)

4 3761 Stocker St Los Angeles Part of a 4 property portfolio totaling 79,744 SF Class C Office/Medical

$13,327,500 ($167.13/SF)



1

1

6

2

7

3

2


MEDICAL COMPARABLES


Baldwin Hills is a neighborhood in South Los Angeles that is located in the foothills of Baldwin Hills mountain range. The community overlooks the Los Angeles Basin and the lower plain immediately to the north, and is bounded by La Cienega Boulevard to the west, Crenshaw Boulevard to the east, Stocker Avenue to the south, and Rodeo Drive to the north. Baldwin Hills is bordered on the west by Culver City, and shares the eastern border of Crenshaw Boulevard with Leimert Park.

The majority of Baldwin Hills belongs to the city of Los Angeles and a small portion of Baldwin Hills lies in unincorporated Los Angeles County. It is zoned to Los Angeles Unified School District. 66.2% of the population 15 years and older are not married and 70.8% of the households are renter occupied, according to the 2015 Gadberry demographic report for Baldwin Hills.

Baldwin Hills has been nicknamed “the Black Beverly Hills” due to the influence of African American celebrities including Ray Charles, Ike Turner, and Tina Turner building their estate homes there. Nicki Minaj, Michael J. Fox and the late Los Angeles Mayor Tom Bradley are also some of the notable residents of Baldwin Hills.

In recent years, the neighborhood inspired the creation of an American reality television series called Baldwin Hills. Aired on Black Entertainment Television (BET) from 2007-2009, the series focused on African-American teenagers from the Baldwin Hills community. The show featured African-American upper-middle-class families, and was very similar in nature to Laguna Beach: The Real Orange County and The Hills.

LOCATION OVERVIEW

Ethnic Composition

Other Race

21.8%

White

10.5%

64.0%

Black orAfrican American

Asian

3.7%

Population (2016)29,323

Area2.88 square miles

Population Change9.0 (2000 to 2016)

Median Income (2016)$35,378

Eduation (25 years and over)No High School Diploma............18.0%High School Graduate................21.5%Some College................................25.4%College Degree+..........................35.1%

Median Age (2016)38.9

BALDWIN HILLS OVERVIEW


NOTABLE LOCATIONSBaldwin Hills Crenshaw Plaza is an 850,000 square foot retail shopping center located at the intersection of Crenshaw Blvd and Martin Luther King Jr. Blvd in Los Angeles. Anchored by Macy’s, Sears, and Walmart, the 2-stories center has a movie theater, over 100 specialty stores and numerous dining options. Baldwin Hills Crenshaw is home to The Certified Crenshaw Farmers Market every Saturday from 10 am-3pm. The shopping center also offers free Cardio Kick, Yoga and Zumba classes regularly.

Kenneth Hahn State Recreation Area is a 338-acre park named after Los Angeles county Supervisor Kenneth Hanh. The recreation area features baseball diamonds, basketball courts, children’s play areas, a Japanese garden, a lake, picnic areas, soccer fields, trails, and a ten station workout course. There are several programs available at the park: Youth Baseball, Youth Soccer, Walking Club and YWCA Interval Senior Club.

Baldwin Hills Scenic Overlook is a 500 ft peak, urban park, located just southwest of downtown Los Angeles. The park opens from 8 am to sunset daily and its visitor center opens on the weekends, depending on park staff availability. Accessible via the 10 and 405 freeways, the park includes an amphitheater, the Evan Frankel Discovery Center, gardening boxes, picnic table, and Culver City Stairs. On a clear day, the Overlooks’s platform offers breathtaking views spanning the Pacific Ocean to the west, the Hollywood sign to the north, and downtown Los Angeles to the east.

BALDWIN HILLS OVERVIEW


ADDRESS PROPERTY TYPE PROPERTY SIZE (SF)

1 4314 W Adams Blvd Class A Multifamily/Apartments 60,000

2 4347 W Adams Blvd Class A Multifamily/Apartments 55,000

3 6336 Brynhurst Ave Class B Multifamily/Apartments 15,370

4 4018 Buckingham Rd Class A Multifamily/Apartments 140,000

5 2645 Crenshaw Blvd Class A Multifamily/Apartments 80,000

6 3411-3429 Crenshaw Blvd Class A Multifamily/Apartments 55,000

7 3562-3670 Crenshaw Blvd Retail 306,852

8 3690 Crenshaw Blvd Class A Multifamily/Apartments 160,000

9 5414 S Crenshaw Blvd Class A Multifamily/Apartments 75,000

10 3780 W MLK Jr Class A Office/Medical 100,000

11 4220 Mont Clair St Class A Multifamily/Apartments 40,000

12 3444 Rodeo Rd Class A Multifamily/Apartments 225,000

13 4617 W Slauson Ave Retail/Restaurant 3,520

14 3831 W Stocker St Class A Multifamily/Apartments 74,000

15 6558-6572 West Blvd Specialty/Shelter 45,305

16 3661-3664 Western Ave Class A Multifamily/Apartments 29,780

17 5407 S Western Ave Retail/Storefront 12,460

1 3

9

1 47

1 68

41 0

6

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1 115

2

1 7

3

1 5

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Existing Metro Rail & Station

Metro Silver Line & Station

Purple Line Extension (under construction)

Purple Line Extension(approved alignment)

Exposition Transit Corridor Phase 2 (under construction)

Harbor Subdivision

Light Rail (LRT) Alignment & Station

At-Grade LRT

Below Grade LRT

Aerial LRT

Maintenance Yard Site

Parking

Subject to Change 14-0207 ©2013 LACMTA

Crenshaw/LAX Transit Corridor(under construction)

Línea y estación de Metro existente

Metro Silver Line y estación

Extensión de Purple Line (bajo construcción)

Extensión de Purple Line (alineamiento aprobado)

Corredor de Transporte Exposition fase 2(bajo construcción)

Harbor Subdivision

Estación y alineamiento de tren ligero (LRT)

LRT a nivel de la calle

LRT debajo de nivel

LRT a nivel elevado

Sitio de mantenimiento

Estacionamiento

Sujeto a cambios 16-0208 ©2015 LACMTA

Corredor de Transporte Crenshaw/LAX(bajo construcción)

16-0208 ©2015 LACMTA

Crenshaw/LAX Transit ProjectCRENSHAW-LAX TRANSIT PROJECTThe Metro Crenshaw/LAX Line will extend from the existing Metro Exposition Line at Crenshaw and Exposition Boulevards. The Line will travel 8.5 miles to the Metro Green Line and will serve the cities of Los Angeles, Inglewood and El Segundo, and portions of unincorporated Los Angeles County. The new Metro Rail extension will offer an alternative transportation option to congested roadways and provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. Riders will be able to make easy connections within the entire Metro Rail system, municipal bus lines and other regional transportation services.

The Crenshaw/LAX Transit Project will serve the Crenshaw District, Inglewood, Westchester and surrounding area with eight stations at:

1. Expo/Crenshaw 2. Martin Luther King Jr. 3. Leimert Park 4. Hyde Park 5. Fairview Heights 6. Downtown Inglewood 7. Westchester/Veterans 8. Aviation/Century

In addition to the alternative transportation option to congested roadways, the project will also provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County.

The Crenshaw/LAX Project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by Los Angeles County voters in 2008.

AREA DEVELOPMENT


BALDWIN HILLS 24-HOUR COMMUNITY // LA.CURBED.COMOnce the Crenshaw Line light rail project is done in 2019, it’ll have a portal directly into the Baldwin Hills Crenshaw Plaza, and to meet it the BHCP is planning a huge and dramatic overhaul to make the 43-acre site into a round-the-clock community. Mall owners are envisioning a bold remake that would add two million square feet of new retail and hotel space, plus offices, condos, and apartments on nearly every spare inch of the site that’s not yet occupied with a soon-to-be-rehabbed mall, reports Building LA.

Developers/mall-owners Capri Capital Partners are planning a separate “pedestrian-oriented retail village” where Stocker Street meets Crenshaw; it would have a collection of one- and two-story restaurants and stores grouped around a wide pedestrian paseo that would connect shoppers to the mall. The area would be liberally landscaped; from the renderings, it looks so similar to a Grove-like shopping center that you can almost hear the piped-in music. Though there are definitely pedestrian-friendly elements at work here, don’t fret, drivers: there will also be plenty of parking. Despite new subway access right at its front door, at MLK Jr. Boulevard and Crenshaw, there will be 7,000 parking spots split between the two sections of the site.

At Santa Rosalia and Stocker, the plan is to put up a 12-story hotel tower with 400 rooms. The hotel’s plaza floor would match up with the retail village and would allow for a smooth connection between the two. The hotel would be a fairly standard-looking glassy rectangle with a blade of glass at each floor extending the length of the building. The hotel would also have a 74-car parking lot next to it, on the west side.

The office space would be on the other end of the property, where Marlton and Crenshaw meet Thirty-Ninth Street. Currently the location of a grocery store and pharmacy, the office building would be 14 stories tall and have an underground parking garage.

A lot of what’s left of the space after that would be devoted to housing, both apartments and condos. Of the 961 total units, 550 would be condos and 461 would be one- and two-bedroom apartments. The condos would be over on the Santa Rosalia side of the site, in two five-story buildings next to two 50-foot-tall parking structures.

The apartments would be in what looks like a trio of seven-story buildings on the Marlton and Thirty-Ninth Street side of the project. All three would have groundfloor retail and one level of above-ground parking. Developers would like to attract a big market (85,000 square feet) to replace the one being taken out by the proposed office tower.The timeline for this massive undertaking hasn’t been firmed up yet and depends, of course, on securing funding. Regardless, it’s now estimated that all the work will be done by 2020.

AREA DEVELOPMENT


1 Mile Ring 3 Mile Ring 5 Mile Ring

Population Trend

2010 Total Population 32,432 351,512 1,138,126



Population Change 2010 to 2021 10.9% 6.9% 6.5%

Population Change 2016 to 2021 4.3% 2.9% 2.8%

2016 Race and Ethnicity

White alone 6.0% 21.1% 32.5%

Black or African American alone 74.0% 41.7% 23.8%

Asian alone 3.3% 3.3% 10.3%

Other Race 16.7% 33.9% 33.4%

Hispanic 18.3% 49.6% 51.1%

2016 Age

Median Age 43.3 35.2 33.6

2016 Occupation

Civilian employed population 16 years and over 13,498 157,787 542,063

White collar 60.8% 50.0% 53.9%

Blue collar 39.2% 50.0% 46.1%

2016 Educational Attainment

Population 25 years and over 25,048 240,409 772,722

No High School Diploma 15.0% 29.1% 29.6%

High school graduate, GED, or alternative 21.9% 22.6% 20.1%

College No Degree 25.3% 22.5% 18.5%

College or Advanced Degree 37.8% 25.7% 31.8%

2016 Marital Status

Married 32.7% 36.2% 37.3%

Not Married 67.3% 63.8% 62.7%

2016 Household Size

Average Household Size 2.3 3.0 2.9

1 Mile Ring 3 Mile Ring 5 Mile Ring

Household Trend

2010 Households 14,163 117,468 389,217

2016 Households 14,617 119,434 393,835

2021 Households 14,938 120,627 397,323

Household Change 2010 to 2021 5.5% 2.7% 2.1%

Household Change 2016 to 2021 2.2% 1.0% .9%

Household Income Trend

2000 Median Income $33,442 $30,097 $30,494

2010 Median Income $42,358 $38,851 $41,085

2016 Median Income $39,211 $38,562 $41,087

2021 Median Income $44,410 $42,771 $45,179

Median Income Change 2000 to 2010 26.7% 29.1% 34.7%




2016 Household Income

up to $24,999 36.1% 34.5% 31.8%

$25,000 to $49,999 22.5% 25.8% 26.1%

$50,000 to $74,999 13.6% 16.2% 15.5%

$75,000 to $124,999 17.0% 14.3% 14.6%

$125,000 to $199,999 6.6% 6.2% 7.3%

$200,000 or more 4.1% 3.0% 4.8%

2016 Home Value

Median Home Value $424,977.80 $359,331.40 $404,779.90

Average Home Value $478,915.40 $437,193.70 $591,802.80

2016 Occupancy

Households 14,617 119,434 393,835

Owner Occupied 38.0% 38.1% 29.7%

Renter Occupied 62.0% 61.9% 70.3%

DEMOGRAPHICSBALDWIN HILLS

CHARLES DUNN COMPANY 1925 Century Park East, Suite 2350Los Angeles, CA 90067 Lic. #01201641 www.charlesdunn.com

Exclusively Marketed By:

© Charles Dunn Company, Inc. These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including land use limitations. BRE Lic. #01201641

JOHN C. ANTHONY Senior Managing Director Lic #01226464 Direct | 213.534.3245 [email protected]

JANET D. NEMANSenior Managing DirectorLic. #01069127Direct | [email protected]

MIXED-USE / MULTIFAMILY DEVELOPMENT OPPORTUNITY · Los Angeles, CA 90067 Lic. #01201641 JANET D....

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