WARNER CENTER - LoopNet · 2018. 2. 8. · Ave. 6636 Variel Ave is walking distance from “Uptown...

WARNERCENTER

MIXED-USE DEVELOPMENT

OPPORTUNITY

6636 Va r i e l aV e n u e | 6629 in d e p e n d e n c e aV e n u e | 6617 in d e p e n d e n c e aV e n u e

c a n O G a p a r K , c a

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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 Real Estate Investment Services, Inc. (“M&M”) 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 M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

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 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.

NON-ENDORSEMENT NOTICE

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

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Presented by:

John LallySenior Investment AssociateMember, NRG

16830 Ventura Blvd, Ste 100Encino, CA 91436(818) 212-2734 direct(818) 212-2710 [email protected] CA: 0190040

Ryan R-SerlingSenior Investment AssociateMember, NOIPG


Chase CohenAssociate


Martin D. AgnewFirst VP InvestmentsSenior Director, NOIPG


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DEVELOPMENT OVERVIEW

Development Summary Marcus & Millichap is pleased to present 6636 Variel Ave, 6629 Independence Ave, and 6617 Independence Ave, a rare high-profile, mixed-use development opportunity, located on Kittridge St, stretching block to block from Variel Ave to Independence Ave, just west of De Soto Ave and south of Vanowen St. The subject property is 2.86 acres and falls within the Warner Center 2035 Specific Plan (North Village District). The North Village District is encouraged to be a predominantly residential, mixed-use gateway between Independence Ave and De Soto Ave. 6636 Variel Ave is walking distance from “Uptown at Warner Center”, a 47 acres mixed use development project, including retail, office space, hotel, research and development, assisted living and community center, and a 5 acre open park. It is also located near the third largest shopping center in the United States, (Westfield Topanga, The Village, and Westfield Promenade). The site is surrounded by an immediate dense population as well as affluent neighborhoods, including West Hills and Hidden Hills, which have some of the strongest demographics in Los Angeles County ($106,089 to $269,000 average household income), giving way for a developer/investor to capitalize on the signif icant growth potential .

Suggested Asking Price:

Land SF:

Zoning:

FAR:

APN:

*SEE PAGE 14 & 17 FOR FAR DETAILS

Warner Center 2035 Plan

6636 VARIEL AVENUE | CANOGA PARK, CA

Request for Offer

124,559 SF (2.86 Acres)

(WC)NORTHVILLAGE-SN-RIO

6.:1

2148-029-0292148-029-0212148-029-022

• Rare Warner Center Development

• Block to Block Development Opportunity

• North Village District

• Multi-Billion Dollar Submarket

• Proximity to Metro Orange Line

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D e v e lo p m e n t H i g h l i g h t s

AN IDEAL TRANSIT ORIENTED DEVELOPMENT IN WARNER CENTER

• With a potential FAR of 6:1* this development has the ability to house upwards of 764 apartment units, with a mix of studios, 1+1, and 2+2 bedrooms*

• Proposed 5,000 square feet of ground floor retail space and 554,250 square feet of residential apartment homes

• Surrounded by the 3rd largest shopping center in the u.s. with approximately 2.7 million square feet of retail space at the Westfield Project

• Set within the promenade 2035 - “NORTH VILLAGE” - This plan is set to provide real opportunities to be connected in everyday life, work, play and entertainment - all within your own backyard

• Massive growth in the immediate area - working to revitalize the west san fernando valley

• Dozens of new and planned apartment home communities - with units totaling in the thousands

• Subject Property is located directly adjacent to the Metro Orange Line

• The Warner Center is a rapidly growing TOD (Transit Oriented Development) with a very supportive local government and resident base

*See Page 14 & 17 For FAR Details

6636 Variel Avenue

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CLOSE PROXIMITY TO:

THE VILLAGE TOPANGA

THE PROMENADE

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6636 Variel Avenue

6636 Variel Avenue

TOPANGATHE VILLAGE

PROMENADE UPTOWNAT WARNER CENTERPROPOSED DEVELOPMENT

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6636 Variel Ave 6617 Independence Ave6629 Independence Ave

3 Parcels Total

BUILDING SF: 56,954

LAND SF: 68,246 (1.56 Acres)

ZONING: (WC)NORTHVILLAGE-SN-RIO

APN: 2148-029-029

FAR: 6:1*

CLEAR HEIGHT: +/- 20’

BUILD OUT: OFFICE, R&D, WAREHOUSE

BUILDING SF: 13,755

LAND SF: 30,001 SF (0.69 Acres)


APN: 2148-029-021

FAR: 6:1*



BUILDNG SF: 9,216

LAND SF: 26,312 SF (0.60 Acres)


APN: 2148-029-022

FAR: 6:1*



Site Overview

*SEE PAGE 14 & 17 FOR FAR DETAILS

Rent Roll & Pro Forma Income

During Entitlement Process

6636 Variel Avenue

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WARNER CENTER DEVELOPMENTS & FEATURES

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SUBJECT PROPERTY - 6636 VARIEL AVENUE

1. 6801 CANOGA WARNER CENTER - 149 Units M/U

2. WESTFIELD TOPANGA MALL

3. WESTFIELD TOPAGNA - THE VILLAGE

4. UPTOWN AT WARNER CENTER - M/U HIGH RISE DEVELOPMENT

5. AMLI 522 UNITS / REVEAL 438 UNITS / ALTA 298 UNITS

6. SAKS OFF 5TH / NORDSTROM RACK / LA FITNESS

7. DSW / BED BATH & BEYOND / BEVMO / PETSMART

8. ALURA APARTMENT HOMES

9. TRILLIUM TOWERS

10. THE HOME DEPOT

11. OCEANA - 244 UNITS

12. CARILLON APARTMENT HOMES - 264 UNITS

13. MOTIF - 397 UNITS

14. WESTFIELD PROMENADE 2035

15. ANTHEM BLUE CROSS BLUE SHIELD

16. FRY’S ELECTRONICS & PANAVISION

17. WARNER CENTER TOWERS - ALMOST 2 MILLION SF OF OFFICE

18. PROPOSED HOTEL - 170 ROOMS

19. WARNER CENTER CORPORATE PARK - PROPOSED 2.6 MILLION SF RE-DEVELOPMENT

20. NORTHROP GRUMMAN

21. KAISER PERMENANTE WOODLAND HILLS

22. PIERCE COLLEGE

23. CHALK HILLS

VICTORY BLVD

VANOWEN ST

6636 Variel Avenue

METRO ORANGE LINE 101 FREEWAY

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Standards for the North Village District

• Floor Area Ratio: Base maximum FAR of 4.5:1 is permitted on all lots within this district

• Permitted Development by Floor Area: There are no use restrictions on any project by floor area (i.e. restrictions that require certain percentage of floor area to be

devoted to a certain use)

• Building Height: All projects shall be permitted an unlimited building height subject to the following exceptions:

• Street Wall: All projects with frontage along a public street or highway shall be required to have a minimum building height of 35 feet along that public street or

highway.

• Any project over 75 feet in height shall be subject to additional submittal requirements as set forth in the Mitigation Monitoring Program.

Setbacks:

• All projects shall observe a front setback area of no less than 12 feet and no more than 15 feet

• Any project not located on an Active Street Frontage shall be permitted a front setback are up to 20 feet

• A minimum of 30% of the requires setback shall be landscaped

Residential Parking Requirements:

• Base Parking Rate for Residents: Any residential use within the plan area shall provide parking for residents at the rate of at least one parking space per unit but no

more than two parking spaces per unit

• Guest Parking Requirement: Any residential use equal to or less than 100 units in size shall also provide a minimum of .25 parking spaces per unit for guest parking.

Guest parking shall be optional for projects with more than 100 units (no tandem parking)

• Increased Parking Space Allotment: Any residential use shall qualify for an increase in the project’s total permitted parking allotment of 12.5% (no tandem parking)

• Accessory Non-Residential Parking: Any residential project that incorporates non-residential uses shall be exempt from non-residential parking requirements of the

plan if those non-residential uses occupy 2% or less of the project’s total Floor Area. Any residential project that incorporates more than 2%, non-residential uses shall

be considered a mixed-use project for purposes of satisfying this plan’s parking.

Mixed-Use Parking Requirements:

• For any project with a mixture of non-residential and residential uses where the non-residential portion of the project is more than 2% of the project’s total Floor Area,

the base requirement for such mixed-use development is to comply with the residential parking standards for the residential portion and the non-residential parking

standards for the increment of the project’s non-residential floor area above the 2% of the entirety of the project’s floor area.

Incentivized Use Parking Requirements:

• No parking spaces shall be required for an Incentivized use when it occupies less than 10% of the project’s total floor area.

• One parking space per 1,000 SF of Floor Area for an Incentivized Use when it occupies 10% or more of the project’s total floor area.

North Village District

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6636 Variel Avenue

Types of Development Bonus:

1. Intensity Bonus: An additional 0:5:1 FAR above the base maximum

FAR shall be permitted for each Incentivized Use. A project that offers

two Incentivized Uses and requests two development bonuses in the

“Intensity Bonus” category shall be entitled to an additional 1:1 FAR above

the maximum FAR (No project shall exceed a FAR of 6:0:1).

2. Mobility Fees Reduction Bonus: 3% reduction in a project’s Mobility

Fees shall be permitted for each Incentivized Use. A project that offers

two Incentivized Uses and requests two development bonuses in the

“Mobility Fees Reduction Bonus” category shall be entitled to a 6% (No

project shall be entitled to more than 12% in reduction of Mobility Fee).

3. Active Street Frontages:

• Requirements for Projects along Active Street Frontages are

established om Section 6.2 (WC2035 Plan-Wide Standards). One

Active Street Frontage shall be established in this District pursuant

to the exact specifications on Map 10 and generally described as

follows:

• The south side of Vanowen St between Canoga Ave to the west and De

Soto Ave to the east, north and south sides of Kittridge Ave between

Variel Ave to the west and De Soto Ave to the east, and the west side

of De Soto Ave between Vanowen St to the north and Victory Blvd to

the south.

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C O M M E R C E

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The Warner Center 2035 Plan has been crafted as a unique urban planning blueprint intended to spur job growth and economic

development. WC2035 considers developments fundamental to supporting regional transportation investments such as the Metro

Orange Line, creating a vibrant Transit Oriented District based on sustainability, community connectedness, accessible public transit,

and promotion of innovative businesses, job diversity, and a safe and friendly pedestrian environment. A developer proposing a project

conforming to the Warner Center 2035 Plan may process their approvals through the “Project Permit Compliance” process. The City

estimates project approvals to be issued within 4-6 months after submission.

WARNER CENTER

WESTFIELDTOPANGA

COSTCO

THE HOME DEPOT

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Warner Center 2035 Plan

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Development RegulationsPermitted Uses (Including, but not limited to):

• Community Center • Hybrid Industrial• Educational Institution • Warehousing/Storage• Hospitals • Eldercare Facilities• Libraries • Live/Work Units• Health Care Services • Multiple Residential Units• Museums • Senior Housing• Art Gallery • Bakery

• Dance Studio/Yoga Studio, etc• Restaurants, Bars and Cafes• Retail Stores • Theater• Supermarket• Animal Hospitals• Banks • Day Care Centers• Dry Cleaners • Gymnasiums/Health Clubs• Hotels/Motels • Medical/Dental Offices• Hair Salons/Nail Sons, etc.• Real Estate Offices

6636 Variel AvenueIncentivized Uses:

The Warner Center Plan provides development bonuses for a number of uses. There are six incentivized uses:

1. Grocery Store: Grocery store that has at least 7,500 SF of floor area and is located within a mixed-use building or structure

2. Fully Subterranean Parking: All required parking located in a completely subterranean parking structure that is located below existing grade

and complies with all LAMC requirements for subterranean parking

3. Local-Serving Retail: Five or more Local-Serving Retail businesses, located on the first floor and comply with all regulations (shall not exceed

5,000 SF of floor area)

4. Community-Serving Uses: Any Community-Serving Use that is at least 5,000 SF

5. Publicly Accessible Open Space: Provided at a minimum of 50% more than the size that is required by Section 6.2.2 of the plan

6. LEED Gold or Equivalent (Green Building Ordinance Projects): Project which provides LEED Level Gold or higher, or the equivalent under the

Green Building Ordinance.

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California Home Builders, already in the midst of construction on two mixed-use developments in Warner Center, will now try its luck with a third project in the neighborhood.

According to plans filed earlier today with the City of Los Angeles, the Canoga Park-based developer to raze an existing office park at 6109 N. De Soto Avenue to make way for the construction of a seven-story building featuring 358 apartments over ground-floor commercial space. Plans call for approximately 60,000 square feet of accessory uses, as well as a single level of subterranean parking.

California Home Builders and Newman Garrison + Partners announced the start of work for Q East and Q West, which will add over 500 apartments to Warner Center by 2019. One of the projects - Q East - is rising on a vacant lot almost directly across the street from the 3.5-acre 6109 De Soto site.

6109 DE SOTO AVENUE BCEG INVESTMENT

Construction is scheduled to start next month on a new apartment complex that will replace two low-slung Warner Center commercial buildings with 274 new apartments and 11 live/work units, reports the Los Angeles Daily News.

Developer BCEG International Investment-US, Inc. plans to begin demolition next month on the property. Construction’s expected in February, with the seven-story project due to wrap up in December 2019.

The city has also approved a new 12-story building on the site, but the developer hasn’t announced a timeline for that.

The project is one of a few in the Warner Center area that are taking advantage of new planning guidelines in the area that allow for more dense building and no limits to building heights.

Area Developments

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6606 VARIEL AVENUE

Q EAST & Q WEST

Directly next door to the subject property is an approved development, Evolution Warner

Center. It is designed to include 277 luxury apartment units in the heart of Warner Center

1 block walk from the Orangeline Bus Expressway at Variel Ave. Containing several high

tech features and state of the art amenity spaces such as a resort style pool/spa and

fitness center, internet lounge, pet wash, bicycle kitchen, rooftop BBQ terraces, and outdoor

community kitchen,

The project features modern architecture designed in conjunction with City leaders, and

will serve the most discriminating resident who chooses to work and live and play in this

neighborhood. Warner Center is near capacity with high demand for new housing amidst a

huge expansion of regional mall and office space creating strong job growth, which bodes

well for this assets investment performance in the long term.

Canoga Park-based California Home Builders is moving forward with plans to construct a pair of mixed-use developments in Warner Center, one of which would rise across the street from the Village at Westfield Topanga Canyon.

The projects, known as Q East and Q West, are being designed by architecture firm Newman Garrison + Partners. Q East would rise at the northeast corner of Erwin Street and Variel Avenue, while Q West will face Topanga Canyon Boulevard.

The contemporary podium-type buildings will combine to create 562 apartments and approximately 60,000 square feet of retail and office space, in addition to an array of amenities that includes multiple courtyards, roof decks, and swimming pools. According to Newman Garrison, both properties are being marketed towards young professionals and millennials.

Construction of Q East is already underway, with completion expected in early 2019. Site preparation has already finished for Q West, and full construction is set to begin before the end of 2017.

6636 Variel Avenue

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Warner Center Corporate Park

One of Warner Center’s one-story rambling office parks is poised to go vertical as a new era of urbanization unfolds in the Woodland Hills neighborhood.

The proposed $1-billion development by Adler Realty Investments Inc. is one of many big real estate plans coming together in Warner Center, where Los Angeles city planners are working to create another densely occupied urban hub with the appeal of a bustling city neighborhood.

And there’s a lot space to work with in the asphalt plains of what is still mostly a suburban office district. Health insurer Anthem Inc., for example, is trying to sell its 26-acre parking lot to a developer interested in building a new community there.

The planned building boom may help Warner Center finally achieve its original purpose. In the early 1970s, planners decided that the west Valley land, once the site of movie mogul Harry Warner’s horse ranch, should be turned into a “downtown” for the San Fernando Valley...

Adler and financial partner LLJ Ventures plan to demolish his 350,000-square-foot office park, composed mostly of islands of low-slung concrete and black-glass buildings separated by parking lots.

He has applied for approval to replace the 1980s-era development with more than 1 million square feet of offices, 80,000 square feet of stores and restaurants, 1,000 residential units, 68 live-work units and a 228-room hotel. There would also be parks and pedestrian-oriented open space.

Other developers have projects planned for vacant sites, but Adler plans to remake an active property. His existing complex is almost fully leased to such tenants as Allstate Insurance and U.S. Bankruptcy Court.

He plans to build out the development over 15 years or more as leases expire but hopes to start on the apartments in about 12 months.

SOURCE: https://urbanize.la/post/rendering-revealed-latest-warner-center-development

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Westfield Promenade 2035

The development will produce a state of the art “Live/Work/Play” environment that will be a walkable community featuring a combination of residential and commercial uses including retail, office, hotel, research & development, assisted living and community center space surrounding a 5 acre open park.

“Our vibrant Southern California lifestyle deserves a community designed for the way Valley residents want to live, which is on their own terms, with more free time and less commuting. Promenade 2035 will provide real opportunities to live, work, and be connected and entertained at your doorstep.”

• CREATIVE WORK SPACES• LIVE• PROMENADE SQUARE• PROMENADE MEWS• PROMENADE ENTERTAINMENT & SPORTS CENTER• STAY: HOSPITALITY

Whether it is in your own living room, across the Square, or down the Mews, Promenade 2035 creates opportunities designed for you to enjoy your life. Imagine a neighborhood where picking up the freshest fare on the walk home from work is an everyday reality.

SOURCE: WWW.PROMENDAE2035.COM/PROJECT

“YOUR COMMUNITY, YOUR LIFE, YOUR WAY.“

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Another Reason to Buy...

A brief and partial Warner Center Association summary of the Warner Center 2035 Plan (WC 2035 Plan) is as follows:

The Warner Center 2035 Plan (WC 2035 Plan) is a development blueprint for Warner Center that emphasizes mixed-use and transit-oriented development, walkability, and sustainability. The WC 2035 Plan considers development fundamental to supporting regional transportation investments such as the Orange Line and, as a result, creating a vibrant Transit Oriented District (TOD) based upon sustainability, community connectedness, accessible public transit, and promotion of innovative businesses, job diversity, and a safe and friendly pedestrian environment. In simple terms, the WC 2035 Plan provides a comprehensive and clear process that will permit development to occur in order to facilitate the creation of a Regional Center where people can live, work, and play. At its core, the WC 2035 Plan will create the necessary framework for balanced and appropriate development.

Source: warnercenterassociation.org

With the approved Warner Center 2035 Plan in place it provides a direct route to obtaining land use entitlements,

which significantly reduces entitlement risk. The WC 2035 Plan’s underlying zoning provides for a 6.035

million square-foot development. The WC 2035 Plan should help to make the Project Permitting Compliance,

Subdivision Mapping and CEQA (California Environmental Quality Act) processes more efficient and timely.

Additionally, the Plan enables developer creativity and flexibility.

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M A R K E T C O M P A R A B L E S

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M A R K E T C O M P A R A B L E S

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Rent Comparables Map

6636 VARIEL AVE(SUBJECT)

5939 Canoga Ave

21757 Erw in St

21015 Oxnard St

Triana at Warner Center

Oceano at Warner Center

Carabella at Warner Center

Bella Vista at Warner Ridge

Carillon Apartments

The Motif

The Enclave

The Pointe at Warner Center

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Retail Rent Comparables

YEAR BUILT: 1979

Total GLA Av ailable SF Asking Rent/SF

5,689 SF 5,689 SF $3.75

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NOTESNNN Lease

5939 CANOGA AVE5939 Canoga Ave, Woodland Hills, CA, 91367

YEAR BUILT: 2006


8,000 SF 4,000 SF $4.00

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NOTESNNN Lease

21757 ERWIN ST21757 Erwin St, Woodland Hills, CA, 91367

YEAR BUILT: 2010


14,730 SF 1,438 SF $4.00

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NOTESNNN Lease

21015 OXNARD ST21015 Oxnard St, Woodland Hills, CA, 91367

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Apartment Rent Averages

$0

$400

$800

$1,200

$1,600

$2,000

$2,400

$2,800

$3,200

$3,600

$4,000

Triana atWarnerCenter

Oceano atWarnerCenter

Bella Vistaat Warner

Ridge

CarillonApartments

The Motif

3 Bedroom

Av g. $2,399

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000



Carabellaat Warner

Center


Ridge

CarillonApartments

The Motif The Enclave The Pointeat Warner

Center

1 Bedroom

Av g. $3,085

$0

$400

$800

$1,200

$1,600

$2,000

$2,400

$2,800

$3,200

$3,600

$4,000



Carabellaat Warner

Center


Ridge

CarillonApartments

The Motif The Enclave The Pointeat Warner

Center

2 Bedroom

Avg. $3,160

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Apartment Rent Comparables

OCCUPANCY: 96% | YEAR BUILT: 2008

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Unit Ty pe Units SF Rent Rent/SF

1 Bdr 1 Bath 100 833 $2,424 $2.91

2 Bdr 2 Bath 100 1,135 $3,178 $2.80

3 Bdr 2 Bath 112 1,423 $3,102 $2.18

1 Bdr 1 Bath Den 16 1,025 $2,378 $2.32

1 Bdr 1.5 Bath Twnhs 10 1,090 $2,299 $2.11

2 Bdr 2 Bath Den 8 1,590 $3,196 $2.01

Total/Av g. 346 1,145 $2,873 $2.51

TRIANA AT WARNER CENTER6250 Canoga Ave, Woodland Hills, CA, 91367


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1 Bdr 1 Bath 148 937 $1,949 $2.08

2 Bdr 2 Bath 144 1,114 $2,818 $2.53

2 Bdr 2.5 Bath 12 1,250 $2,600 $2.08

3 Bdr 2 Bath 9 1,125 $2,599 $2.31

Total/Av g. 313 1,036 $2,392 $2.31

OCEANO AT WARNER CENTER6355 De Soto Ave, Woodland Hills, CA, 91367

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1 Bdr 1 Bath 83 810 $2,195 $2.71

1 Bdr 1.5 Bath 50 994 $2,614 $2.63

1 Bdr 1.5 Bath Den 14 1,205 $2,458 $2.04

2 Bdr 2 Bath 32 1,207 $2,691 $2.23

2 Bdr 2.5 Bath 37 1,167 $2,882 $2.47

2 Bdr 2.5 Bath Den 8 1,522 $2,998 $1.97

Total/Av g. 224 1,017 $2,518 $2.48

CARABELLA AT WARNER CENTER6300 Variel Ave, Woodland Hills, CA, 91367

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1 Bdr 1 Bath 266 913 $2,711 $2.97

2 Bdr 2 Bath 333 1,416 $3,582 $2.53

3 Bdr 2 Bath 49 1,442 $3,403 $2.36

Total/Av g. 648 1,211 $3,211 $2.65

BELLA VISTA AT WARNER RIDGE6150 De Soto Ave, Woodland Hills, CA, 91367


5


1 Bdr 1 Bath 180 968 $2,894 $2.99

2 Bdr 2 Bath 247 1,326 $3,712 $2.80

2 Bdr 2 Bath Den 8 1,590 $3,195 $2.01

3 Bdr 2 Bath 20 1,423 $3,102 $2.18

Total/Av g. 455 1,193 $3,352 $2.81

CARILLON APARTMENTS6301 De Soto Ave, Woodland Hills, CA, 91367

6



1 Bdr 1 Bath 192 958 $2,481 $2.59

2 Bdr 2 Bath 158 1,351 $3,093 $2.29

3 Bdr 2 Bath 54 1,531 $3,597 $2.35

Total/Av g. 404 1,188 $2,870 $2.41

THE MOTIF21021 Erwin St, Woodland Hills, CA, 91367

31



7


1 Bdr 1 Bath 118 739 $2,207 $2.99

1 Bdr 1.5 Bath Den 14 1,205 $2,458 $2.04

2 Bdr 2 Bath 109 1,207 $2,691 $2.23

2 Bdr 2.5 Bath 37 1,167 $2,882 $2.47

2 Bdr 2.5 Bath Den 8 1,522 $2,998 $1.97

Total/Av g. 286 1,017 $2,513 $2.47

THE ENCLAVE6710 Variel Ave, Woodland Hills, CA, 91367

YEAR BUILT: 2004

8


1 Bdr 1 Bath 78 755 $2,154 $2.85

2 Bdr 2 Bath 58 1,123 $2,760 $2.46

Total/Av g. 136 912 $2,412 $2.65

THE POINTE AT WARNER CENTER6150 Canoga Ave, Woodland Hills, CA, 91367

32

Demographics

Woodland Hills | Canoga Park

IncomeIn 2017, the median household income for your selected geography is$50,148, compare this to the US average which is currently $56,286.The median household income for your area has changed by 35.54%since 2000. It is estimated that the median household income in yourarea will be $57,153 five years from now, which represents a changeof 13.97% from the current year.

The current year per capita income in your area is $24,998, comparethis to the US average, which is $30,982. The current year averagehousehold income in your area is $68,382, compare this to the USaverage which is $81,217.

PopulationIn 2017, the population in your selected geography is 32,217. Thepopulation has changed by 27.82% since 2000. It is estimated that thepopulation in your area will be 33,798.00 five years from now, whichrepresents a change of 4.91% from the current year. The currentpopulation is 51.21% male and 48.79% female. The median age of thepopulation in your area is 33.27, compare this to the US averagewhich is 37.83. The population density in your area is 10,253.07people per square mile.

HouseholdsThere are currently 11,749 households in your selected geography.The number of households has changed by 39.19% since 2000. It isestimated that the number of households in your area will be 12,605five years from now, which represents a change of 7.29% from thecurrent year. The average household size in your area is 2.75persons.

EmploymentIn 2017, there are 33,158 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that53.32% of employees are employed in white-collar occupations in thisgeography, and 46.45% are employed in blue-collar occupations. In2017, unemployment in this area is 6.10%. In 2000, the average timetraveled to work was 29.00 minutes.

Race and EthnicityThe current year racial makeup of your selected area is as follows:49.49% White, 4.86% Black, 0.10% Native American and 13.19%Asian/Pacific Islander. Compare these to US averages which are:70.42% White, 12.85% Black, 0.19% Native American and 5.53%Asian/Pacific Islander. People of Hispanic origin are countedindependentlyof race.

People of Hispanic origin make up 53.93% of the current yearpopulation in your selected area. Compare this to the US average of17.88%.

HousingThe median housing value in your area was $439,723 in 2017,compare this to the US average of $193,953. In 2000, there were2,594 owner occupied housing units in your area and there were 5,846renter occupied housing units in your area. The median rent at thetime was $650.

Source: © 2017 Experian

33

DemographicsOVERVIEW

SAN FERNANDO VALLEY

DIVERSE ECONOMYWhile the entertainment industry underpins the economy, other economic drivers include aerospace, insurance and healthcare.

EDUCATED WORKFORCERoughly 35 percent of San Fernando Valley’s age 25 and older population hold a bachelor’s degree and 12 percent also obtained a graduate or professional degree.

POPULATION AND HOUSEHOLD GROWTHPopulation and household growth will increase faster than other large metros in Southern California, generating a demand for housing, and goods and services.

Approximately 2.5 million people reside in the San Fernando Valley,

which includes the submarkets of Northridge-Northwest San Fernando

Valley, Van Nuys-Northeast San Fernando Valley, Woodland Hills,

Burbank-Glendale-Pasadena and Sherman Oaks-North Hollywood-

Encino. The area’s population is expected to increase by 50,000 new

residents through 2021. Many people are attracted by the region’s more

affordable home prices.

Know n for its entertainment industry, the Valley boasts more than 100 soundstages. Entertainment giants calling the Valley home include Walt Disney Co., Universal Studios, Warner Brothers, DreamWorks and Paramount Ranch.

Aerospace giants Boeing and Northrop Grumman as w ell as 21st Century Insurance generate numerous w ell-paying jobs.

Healthcare is also a major source of employment w ith providers that include Kaiser Permanente and Providence Health & Services. As a result of its large concentration of high salaries and successful companies, household incomes are above the national average.

38.32016

MEDIAN AGE:

$62,7002016 MEDIAN

HOUSEHOLD INCOME:

DEMOGRAPHICS

U.S. Median:37.7

U.S. Median:$57,200

2.5M2016

POPULATION:

Growth2016-2021*:

1.9%

873K2016

HOUSEHOLDS:

2.3%Growth

2016-2021*:

ECONOMY

METRO HIGHLIGHTS

* Forecast Sources: Marcus & Millichap Research Serv ices; BLS; Bureau of Economic Analy sis; Experian; Fortune; Moody ’s Analy tics; U.S. Census Bureau

Exclusively Listed By:

John LallySenior Investment AssociateMember, NRG


Ryan R-SerlingSenior Investment AssociateMember, NOIPG


Chase CohenAssociate


Martin D. AgnewFirst VP InvestmentsSenior Director, NOIPG


WARNER CENTER - LoopNet · 2018. 2. 8. · Ave. 6636 Variel Ave is walking distance from “Uptown...

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