FOR SALE - westmac

FOR SALE
7677 SUNSET BLVD
LOS ANGELES, CA 90046
DISCLOSURE
The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of 7677 Sunset Blvd and is not to be used for
any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Coldwell Banker
Commercial WESTMAC or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property is Coldwell Banker Commercial WESTMAC ("Broker") and
no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the
person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to Coldwell Banker Commercial
WESTMAC.
Neither Broker nor Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and
nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include
certain statements and estimates by Coldwell Banker Commercial WESTMAC with respect to the projected future performance of the Property. These Assumptions may
or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, Coldwell Banker Commercial WESTMAC and the Owner
disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written
or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be
made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and recipient of these materials shall not look to Owner or Coldwell Banker Commercial WESTMAC,
nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment
Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to
reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any
reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making
an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s
sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release Owner and from any liability
with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or
statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
It is incumbent upon any prospective purchaser to verify and validate any and all representations, statements, forecasts, estimates, or other information contained
herein provided by either Owner or Broker.
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
DISCLOSURE
2
PRICING
SALES PRICE:
PROPERTY HIGHLIGHTS
UNPRICED
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PROPERTY
PROPERTY TYPE:
APN:
OFFICE / RETAIL
5550-005-021
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SITE DESCRIPTION
RENTABLE SQUARE FEET:
10,518 SF
UPSTAIRS SF:
2,572 SF
DOWNSTAIRS SF:
7,946 SF
PARCEL SIZE:
FLOOR AREA / RATIO:
19,800 SF
0.53
ZONING:
C1-1VL & R1-1
PARKING
36 SPACES
CROSS STREET:
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COURTNEY AVE
LOCATION HIGHLIGHTS
CONSTRUCTION
YEAR BUILT:
CONSTRUCTION TYPE:
# OF FLOORS:
ROOF:
Conveniently nestled in between Hollywood and West Hollywood
Located four blocks East of Fairfax Ave
Minutes from the Sunset Strip
Nearby hotels include Chateau Marmont, Andaz West Hollywood, Chamberlain
West Hollywood Hotel, Mondrian, Grafton, The London, and the Standard.
 Near shopping and design destinations such as The Pacific Design Center,
Sunset Plaza, Melrose, Robertson, Beverly, 3rd Street, and the Design Corridor.
 Near music venues such as House of Blues, Whisky a Go Go, The Troubadour,
The Roxy, and the Viper room.
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1920
WOOD FRAME / STUCCO
TWO
COMPOSITION/TILE
FOUNDATION: REINFORCED CONCRETE SLAB
PARKING SURFACE:
ASPHALT & CONCRETE
PAUL BREHME
VICE PRESIDENT
Rare “Sunset Boulevard” Owner User or Investor Opportunity
Corner Parcel with Excellent Visibility
Pride of Ownership Building
10,518 Square Foot Building
19,800 Square Feet of Land
36 parking spaces
3,861 SF Ground Floor Restaurant with Commercial Kitchen and beautiful brick
outdoor patio
2,572 SF of 2nd Floor Office consisting of 6 Perimeter Offices, Conference Room,
Coffee Bar, Supply Room, Patio, and 2 Bathrooms
3,920 SF Garage / Warehouse / Sanctuary
Front 80% zoned Commercial and back 20% zoned Residential
60,836 cars per day
132 Feet of Frontage along Sunset Blvd
Property presents many possibilities: Convert to Create Office, Designer
Showroom, Lodge, Club, Post Production House, Religious Facility, etc.
310-966-4355
[email protected]
DRE# 01476686
PROPERTY INFORMATION
3
THE OFFERING
Conveniently situated between West Hollywood and Hollywood, 7677 Sunset Blvd consists of a corner parcel improved with a 2-story two-unit mixeduse retail/office building. The property was originally built in 1920 for use as a church but in 2010 was changed into its current configuration. The
ground level includes a restaurant space of 3,861 square feet, an outdoor patio, a parking garage / warehouse space consisting of 3,920 square feet, a
165 square foot basement, and second floor office space consisting of 2,572 square feet. Total combined building square footage is 10,518. The
building's footprint totals 7,781 SF. The site contains a total gross/net land area of 19,800 square feet, or 0.455± acre.
There are a total of 22 open surface parking spaces and 14 enclosed spaces within the garage for a total of 36 spaces, or a ratio of 3/1,000 SF. The
subject property has 132 feet of frontage along Sunset Boulevard and 150 feet of frontage along Courtney Avenue, which provides for excellent
visibility and street exposure. The traffic count along this stretch of Sunset is 60,836 cars daily. The property has both a C1-1VL “Limited Commercial”
and R1-1 “One Family Dwelling” zoning designation. Approximately 80% of the property is zoned commercial and 20% is zoned residential.
The ground floor restaurant consists of an open dining room, adjoining bar, large lounge, commercial kitchen, and a large patio which wraps around
the southwest corner of the property. The kitchen occupies the central portion of the suite with a men’s and women’s bathrooms at the northern
portion of the suite. The kitchen areas also provides an area for dry storage, cooler and freezer space. The interior dining room, lounge and bar areas
feature hardwood and brick paver floors with finished painted drywall walls and painted plywood ceilings with recessed incandescent and custom
suspended chandeliers. The kitchen areas feature ceramic tile floors, FRP (fiberglass resistant panel) walls and plastic ceiling panels with recessed 2' x
4' fluorescent lights. There are men’s and women’s fixture bathrooms featuring ceramic tile floors, painted drywall walls and hard-lid ceilings with
recessed Incandescent lights. The bathrooms include marble counter tops and brass sinks.
The second floor office is accessed via a 262 square foot lobby entryway on the ground floor. The second floor office totals 2,310 SF and includes a
narrow hallway with four perimeter offices, conference room, coffee bar with porcelain sink, supply room and two, 2-fixture bathrooms. The offices
are finished with hardwood and carpeted flooring, painted drywall walls and hard-lid ceilings with recessed incandescent and custom suspended lamp
fixtures. The bathrooms feature ceramic tile floors, painted drywall walls and hard-lid ceilings with incandescent light fixtures. There is a small roof
deck patio measuring 14‘ x 17' which is accessed from a single wood frame door with glass panel inserts. The deck features asphaltic deck with stucco
walls and patio furniture. There are multiple roof package 5-ton HVAC units which service each unit. Each unit is individually metered with a 200 amp
panel featuring, 208/120 V three phase, four wire service.
Construction includes Type V-N reinforced masonry brick and wood frame over reinforced concrete slab on-grade. The second floor features plywood
sheathing over a wood truss joist system. The exterior walls include red brick and scratch coat cement plaster “stucco” with ¼” tinted plate glass in
wood and anodized aluminum frame storefront system. The roof features a combination flat and peaked built-up composition over wood truss joist
system with sloped concrete S-tile mansard.
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
PROPERTY INFORMATION
4
RENT ROLL
Current
Current
% of
Square
Rent
Monthly
Total
Lease
Suite
Tenant
Footage
PSF
Rent
Bldg
Start
Bumps
Lease End
Type
Options
7677 A
XAJ Hooka Bar
3,861
$4.53
$17,500.00
36.71%
7/1/14
CPI:3% min
6/30/19
NNN
None
7677 B
Kristoffer Winters
2,572
$1.85
$4,750.00
24.45%
6/1/13
N/A
6/30/15
NNN
None
Parking
3,920
$0.00
$0.00
37.27%
N/A
Garage / Warehouse
Occupied Space
N/A
$22,250.00
Vacant Space
Subtotal
Other Income
Monthly SGI:
$22,250.00
Annual SGI:
$267,000.00
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
RENT ROLL
5
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
PROPERTY PICTURES - EXTERIOR
6
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
PROPERTY PICTURES – 1ST FLOOR
7
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
PROPERTY PICTURES – 2ND FLOOR
8
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
PROPERTY PICTURES - PARKING
9
20
21
19
1)
2)
3)
4)
5)
6)
22
18
7677 SUNSET BLVD, HARMONY
GOLD THEATRE
ACABAR, SAMUEL FRENCH, THE
PIKEY, BONHAMS
BONHAMS, CROSS TRAIN LA
CHEEBO, OJECTS D’ART,
ROCKPAPER COFFEE, TOI ON
SUNSET
MOUN OF TUNIS, GUITAR CENTER,
SAM ASH DRUM SHOP
AROMA BAKERY, SUSHI
PAPARHACHI, SUNSET ANIMAL
HOSPTIAL
23
24
17
16
25
15
26
14
27
1
2
3
13
12
11
10
7) THE CARVING BOARD,
URBANRAMEN, CAFÉ TROYKA
8) SAM ASH, WEST HOLLYWOOD
UNITED CHURCH, THE MOMENT
9) EL COMPADRE, CHARLIE CHAN
PRINTING
10) VINTAGE ENOTECA, ELDERBERRIES
CAFÉ
11) FED EX, 7-ELEVEN
12) CHIPOTLE, SONG MUSIC
PUBLISHING
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
(13)
(14)
(15)
(16)
(17)
4
LA MODELS
AV SQUAD
BANK OF AMERICA
BRISTOL FARMS
RITE AID, THE GRIDDLE CAFÉ,
ASCAP
(18) HUNAN CAFÉ, LUCA ON SUNSET,
EVO KITCHEN, 9021PHO WEST,
VIVOLI CAFÉ
(19) TRADER JOE’S, BURKE WILLIAMS,
CRUNCH, VEGGIE GRILL,
STARBUCKS, WOKCANO, MALIBU
FISH GRILL, ROCK N ROLL SUSHI,
SUNDANCE CINEMAS
5
9
6
8
7
(20) HYDE SUNSET
(21) LAUGH FACTORY, GREENBLATT’S
DELI
(22) SUNSET CAR WASH
(23) THE COUNTER, COFFEE BEAN &
TEA LEAF, ARCO
(24) ZANKOU CHICKEN, MOBILE
(25) CHASE BANK
(26) INTERNATIONAL
CINEMATOGRAPHERS GUILD
(27) MOTION PICTURE EDITORS
GUILD, LAVI CPA
NEIGHBORING BUSINESSES
10
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
AERIAL MAP
11
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
PLAT MAP
12
PAUL BREHME
VICE PRESIDENT
310-966-4355
[email protected]
DRE# 01476686
ZIMAS ZONING MAP
13
FOR SALE
7677 SUNSET BLVD
LOS ANGELES, CA 90046