Ashton Westwood

1737 LAS PALMAS
HOLLYWOOD, CALIFORNIA
A PREMIER ENTITLED RESIDENTIAL DEVELOPMENT OPPORTUNITY
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
DISCLOSURE
The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of 1737 Las
Palmas (“Property”) 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 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.
Neither Coldwell Banker Commercial WESTMAC nor the 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, 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 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.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
EXECUTIVE SUMMARY
Overview
1737 Las Palmas in Hollywood, California is a fully approved and entitled project containing 82 luxury residential units totaling
approximately 59,570 net residential square feet and one retail unit containing 1,115 square feet. The site is located one block from the
world famous intersection of Hollywood and Highland in the Hollywood area of Los Angeles. This opportunity provides a developer the
ability to purchase a fully entitled project which can commence construction almost immediately.
Situated half a block north of Hollywood Boulevard on Las Palmas in one of the city's premier residential neighborhoods, 1737 Las Palmas
will be an excellent addition to an area where demand has always exceeded supply. Supply will likely be further limited by the
implementation of the revised Hollywood Community Plan which is currently under review. If enacted, the new Plan will likely result in more
restrictive zoning which will limit FAR and building heights.
The project is designed as an 82 unit building with average unit sizes of approximately 726 square feet which provides the affordability of
entry level housing in a new construction product.
Building amenities include:








Stunning Views
Swimming Pool & Spa
VIP Roof Deck
Gymnasium
Recreation Room
Retail Space
Central Courtyard
Rear Courtyard
The Hollywood sub-market is one of the most desirable neighborhoods in Los Angeles in which to live due to its central location, immediate
accessibility to employment centers, and extensive amenity base. It has one of the highest income levels and a long history of progressively
escalating housing costs, driven by limited development opportunities and the resulting intense competition for housing. The ever-increasing
housing costs of both “for sale” and “for rent” products have further increased the affluence of the area.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
INVESTMENT SUMMARY
PRICE:
$10,000,000.
PROJECT TEAM:
Zoltan Pali, Architect SPF
John Libib and Associates, Structural Engineer
Geocon West Inc, Soils Engineer
Karl FeKete, Civil Engineer
ADDRESS:
1737 Las Palmas Avenue
Hollywood, CA 90028
LAND SIZE:
Approximately 23,008 gross square feet
BUILDING SIZE:
Approximately 61,005 rentable square feet
(68,057 gross square feet)
NUMBER OF STORIES:
6 stories
NUMBER OF UNITS:
Eighty two residential units &
±1,115 sqf. retail coffee shop
AVERAGE UNIT SIZE:
Approximately 726 square feet
PARKING:
Two (2) subterranean parking levels
PARKING SPACES:
125
DESIGN:
Project will be delivered with
partial design/build drawings
PERMITS:
Project will be delivered with
city entitlements and approvals
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
AERIAL OF SITE
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Location
Due to its exceptional quality of life, climate, diversified
employment base and central location, the Hollywood
neighborhood of Los Angeles is considered one of the city’s most
desirable residential areas. Surrounded by West Hollywood, Los
Feliz and Miracle Mile, the development site is located in the
epicenter of Los Angeles. Additional site benefits include
proximity to some of the finest amenities in the world, luxury
shopping, entertainment, fine dining, and museums. Some
amenities located nearby include:
Restaurants
 Daily Grill
 Cleo
 Louis XIV's
 Drai’s
 Katsu-ya
 Sadie’s
 Beso
 Dakota
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
Retailers
 H&M
 Ed Hardy
 Urban Outfitters
 Zara
 Bebe
 Sephora
 American Apparel
 Louis Vuitton
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
Luxury Hotels
Cultural Attractions
 W Hotel
 Roosevelt Hotel
 Renaissance Hotel
 Hollywood Bowl
 Griffith Park
 LACMA
 La Brea Tar Pits
 The University of California, Los
Angeles, UCLA
 Staples Center Sports Arena and
LA Live Entertainment District
 Grauman’s Chinese Theatre
 Hollywood Walk of Fame
 Cirque De Soleil
 Madame Tussaud’s
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Transit Access
The site is located within close proximity to the Hollywood Freeway (Interstate 101) and the Santa Monica Freeway (Interstate 10),
which provides regional access for commuters working anywhere in Los Angeles County. The MTA’s red line is located just one
block away at Hollywood and Highland with access to both Downtown and the San Fernando Valley.
Los Angeles International Airport (LAX) is approximately 30 minutes from the site and is served by over 90 commercial and cargo airlines. In
2011, more than 61 million passengers traveled through LAX. Burbank Airport and Long Beach Airport can each be reached in approximately
45 minutes.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
The Building
The building is designed as Type-3.
Unit Mix & Rent Projections:
Retail
Retail Space
Leasing Office
Size
1,115
420
Residential Unit
Studio
Studio + Loft
Studio
Studio + Loft
Studio
Studio + Loft
Studio
1 BR
1 BR + Loft
1 BR
1 BR + Loft
2 BR
2 BR + Loft
2 BR + Loft
2 BR
2 BR + Loft
Type
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
(all sizes approximate)
Rent
$3,624
$0
A1
A1-L
A2
A2-L
A3
A3-L
A4
A5
A5-L
A6
A6-L
B1
B1-L
B2-L
B3
B3-L
% Mix
22%
7%
11%
7%
1%
4%
4%
9%
5%
4%
2%
11%
6%
4%
2%
1%
Unit Size
515
640
510
625
515
650
425
665
785
750
890
1045
1175
1225
1150
1300
No. Units
18
6
9
6
1
3
3
7
4
3
2
9
5
3
2
1
Rents
$1,900
$2,200
$1,900
$2,200
$1,900
$2,200
$1,400
$2,300
$2,600
$2,300
$2,600
$3,200
$4,000
$4,000
$3,200
$4,000
RPF
$3.69
$3.44
$3.73
$3.52
$3.69
$3.38
$3.29
$3.46
$3.31
$3.07
$2.92
$3.06
$3.40
$3.27
$2.78
$3.08
100%
726
82
$2,619
$3.36
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
The Building and Units
1737 Las Palmas is designed as a type 3 building with
a two level subterranean garage.
Building amenities include:








Stunning Views
Swimming Pool & Spa
VIP Roof Deck
Gymnasium
Recreation Room
Retail Space
Central Courtyard
Rear Courtyard
The unit mix at 1737 Las Palmas will consist of studios, 1 bedroom and 2 bedroom units. Due to the projects superior location, close proximity
to various lifestyle amenities, and superior view corridors, the residences at 1737 Las Palmas should command strong pricing relative to other
comparables in the Los Angeles sub-market.
The smaller average unit sizes are designed to accommodate the high demand from urban renters eager to live in the neighborhood.
The following pages contain a selection of representative building and unit plans.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Representative Building Plans
Site Plan
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Site Plan
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Site Plan
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Sections
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Sections
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Sections
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
The Architect
Zoltan E. Pali, FAIA is the creative energy and tireless driving force behind the firm’s award-winning design, and his
signature is on every single project that bears the company name. A native of Los Angeles, California, Mr. Pali began his
architectural career in 1978, and founded SPF. His background includes a degree in Design from the University of California
Los Angeles (UCLA), and a depth of experience in the construction industry. Mr. Pali’s combination of award-winning design
proficiency and his rigorous standards for technical accuracy in construction documentation constitute the foundation of
SPF:a’s methodology and approach to every project.
Prior to founding SPF:architects, Mr. Pali worked for Vito Cetta Architects (VCA), Solberg & Lowe Architects, and as a sole
practitioner collaborated with case study maestro and protégé of Craig Ellwood, Jerrold E. Lomax, FAIA. His early projects
included multi-family housing structures, mixed use facilities, and challenging landmark projects, such as the Hollywood
Roosevelt Hotel renovation, the Santa Monica Museum of Flying and the award-winning DC-3 Restaurant. Early collaborative
projects with Jerrold E. Lomax, FAIA included the 2,000 car Cedars-Sinai Parking Structure, the award-winning Benjamin
Residence [GA-Houses 64], and an award-winning flagship retail store for Virgin Entertainment in Orlando, Florida.
In 1990, Mr. Pali joined up with partner Judit Méda Fekete, and five years later formed what is now SPF:a. The firm sets out to create a unique design
footprint, incorporating the best in creativity, technology and resourcefulness. Within the first few years of its inception, SPF:a was selected as part of Los
Angeles’ “New Blood 101”, and received the Architecture Magazine Progressive Architecture Citation Award. Under Mr. Pali’s stewardship, SPF:a was
selected to sit on the judging panel for Architecture Magazine’s Home of the Year design awards in 2005, has won dozens of design awards, citations, and
publications of its work over the years, and has received national AIA honors for design excellence. Among his many designs, Pali’s most decorated
projects include the Oshry Residence, Somis Hay Barn, Flagship Virgin Megastore, Cotner Building, Central California Museum of History, Pantages
Theater Restoration, Wildwood School, and the Brosmith Residence.
Mr. Pali has also touched numerous landmarks on the Los Angeles horizon. His combined passion for progressive design and his respect for historic
buildings has earned SPF:a a role on the Greek Theater Renovation & Expansion, the Getty Villa Museum renovation and the Historic Restoration of the
Hollywood Pantages Theater.
Pali has served as a visiting critic and at California State Polytechnic University at Pomona School of Architecture, the UCLA School of Architecture and the
USC School of Architecture. He has guest lectured at the UCLA School of Architecture, the New York Architectural League, and the LA Urban Forum on
topics ranging from general architecture to mixed-use building design.
His personal contribution to the surrounding community includes pro bono design services and fundraising events for the Shakespeare Festival Los
Angeles (a creative literacy program for underserved youth of Los Angeles) and Artstorm (an artpark concept designed to provide graffiti artists with a
legal and positive outlet for practicing their design talents).
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
MARKET
The area of Hollywood where 1737 Las Palmas is located is one of the most challenging communities in which to obtain new approvals. The
surrounding neighborhoods are extremely vocal and have successfully sued on many development projects in the area. 1737 Las Palmas,
being fully approved at the City level, has overcome these hurdles and is assured of very limited competition in the marketplace.
The Hollywood Community Plan is currently
under revision and nearing final publication.
The revised community plan will likely result
in more restrictions on height and FAR
potential for properties neighboring the subject
site.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Comparable Projects
1714 McCadden Place, Hollywood, CA
Unit Type
Studio
Studio
Studio
1 bedroom
1 bedroom
Average
Effective Rent
$2,468
$2,484
$2,385
$2,632
$2,768
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
Square Feet
617
751
760
725
875
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
$/SF Market
Rent
$4.00
$3.61
$3.42
$3.63
$3.45
6138 Franklin Avenue, Hollywood, CA
Unit Type
Studio
Studio
Studio
1 bedroom
1 bedroom
Average
Effective Rent
$2,578
$2,554
$2,504
$3,861
$2,031
Square Feet
670
650
615
900
435
$/SF Market
Rent
$4.01
$4.10
$4.25
$4.29
$4.67
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
1480 Vine Street, Hollywood, CA
Unit Type
1 bedroom
1 bedroom
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
Average Effective
Rent
$3,392
$3,692
Square Feet
720
793
$/SF Market
Rent
$4.71
$4.66
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Southern California Overview
Southern California continues to enjoy a strong and diverse multi-industry base economy. The five counties near Los Angeles; Los Angeles,
Orange, Riverside, San Bernardino, and Ventura, total over 30,000 square miles and boast a massive combined economic profile. Taken
together, they represent the worlds 10th largest economy, with over $650 billion in gross domestic product. Los Angeles County alone would
rank 17th with a GDP of 375 billion dollars.
Southern California is one the most affluent populations in the world. Average household income in Southern California exceeds $70,000. In
Los Angeles’s five counties alone there are more than 7 million jobs. The largest sectors are services at 1.5 million, government at 0.5 million,
manufacturing at 0.5 million, and retail at 0.4
million.
Southern California is the distribution hub for the
Southwestern United States. Los Angeles
International Airport is the 4th busiest airport in
the world and the 3rd largest passenger terminal
in the United States. The Port of Los Angeles and
The Port of Long Beach comprise the primary
entry points for trade with the Pacific Rim. Fifteen
railroads link Southern California with the rest of
the United States and Canada. Over 900 miles of
interstate and intrastate freeways exist in the
metropolitan area. Educationally the area is
equally as impressive with over 40 four-year
colleges, universities, and professional schools.
Amusement parks, museums, professional sports
teams, climate, outdoor recreation, symphony,
and theater all form an extensive base for the
region. The continuing population increase and
scarcity of infill environment creates the
continuing escalating demand in value.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Largest County in the Nation
Los Angeles is home to more than 10 million people making it the most populous county in the U.S. According to a 2007 U.S. Census Bureau
report, Los Angeles County was the fourth fastest growing county in the nation, adding over 400,000 residents in 2006.
Employment Outlook
Los Angeles County’s economy benefits from a diverse industry base. Los Angeles is a unique city within the state of California is the largest
manufacturing center in the U.S. with more than 470,000 workers in manufacturing. The film industry remains vibrant with over 130,000
people employed and generating more than $30 billion annually to the local economy. The value of two-way trade passing through Los
Angeles was approximately $283 billion in 2009 and is estimated to increase to $308.5 billion in 2010. This trade volume represents jobs for
almost 260,000 people and more than $25 billion in revenue to the region.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.
Alexander B. Sachs
Executive Vice President
[email protected]
DRE #: 01332680
BRIAN C. PETERSON
Senior Vice President
[email protected]
DRE #: 01326439
COLDWELL BANKER COMMERCIAL WESTMAC
1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.7797
Company DRE #: 01096973
©2012 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial®
is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.