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SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
A UNIQUE VALUE-ADD COVERED LAND OPPORTUNITY TO ACQUIRE A PORTFOLIO OF THREE SEPARATE PARCELS CONSISTING OF A 114-ROOM MOTEL AND TWO COMMERCIAL SITES IDEALLY SITUATED ON 131,412 SF OF LAND (3.02 ACRES) ADJACENT TO 405 FREEWAY IN NORTH HILLS, CA
INVESTMENT ADVISORS:
BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) 212-2710bmichaels@marcusmillichap.comLicense: CA #01434685www.BrandonMichaelsGroup.com
STEVEN SCHECHTERFirst Vice President InvestmentsDirector, National Retail GroupTel: (818) 212-2793Fax: (818) 212-2710steven.schechter@marcusmillichap.comLicense: CA #01089464www.BrandonMichaelsGroup.com
SEAN BRANDTInvestment AssociateNational Retail GroupTel: (818) 212-2653Fax: (818) 212-2710sean.brandt@marcusmillichap.comLicense: CA #01755166www.BrandonMichaelsGroup.com
G R O U P
BRANDON MICHAELS
SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
16830 Ventura Blvd. Suite 100, Encino, CA 91436www.marcusmillichap.com
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICE
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corpora-tion of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
TEAM MEMBERSBen BrownsteinNicole CottrellDana LiuSteven SchechterAustin Sreden
TABLE OF CONTENTS
01
040506
0203
NORTH HILLS PORTFOLIO
MOTEL 6 - 15711 ROSCOE BOULEVARD
15701 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
COMPARABLES ANALYSIS
AREA OVERVIEW
SAN D
IEGO FW
Y
OVE
R 43
0,00
0 VE
HICL
ES P
ER D
AY
Burger King
SEPULVEDA BOULEVARD
4
VAN NUYSSHERMAN OAKS
OVER 55,000 VEHICLES PER DAY
ROSCOE BOULEVARDOVER 10,000 VEHICLES PER DAY
HASKELL AVENUE
NORTH HILLS • CA5
LAKE BALBOAENCINO
15725 ROSCOE BOULEVARD15701 ROSCOE
BOULEVARD
15711 ROSCOE BOULEVARD
NORTH HILLS PORTFOLIO
115701 ROSCOE
BOULEVARD
15711 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
Motel 6 - 15711 Roscoe Boulevard
The properties can be purchased as a portfolio, individually or a combination of the two
8
EXEC
UTI
VE
SUM
MA
RY
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale the North Hills Portfolio, a three-parcel portfolio consisting of a 114 room motel located at 15711 Roscoe Boulevard, a commercial site consisting of a vacant 5,564 square foot building situated on 36,817 square feet of land located at 15701 Roscoe Boulevard, and a commercial site consisting of a 2,270 square foot auto-use building situated on 15,443 square feet of land located at 15725 Roscoe Boulevard in North Hills, CA.
The total portfolio offering consists of 37,036 square feet of buildings situated on 131,312 square feet of land located in a Tier 1 TOC. The commercial sites offer a [Q]C2-1VL zoning and the rear motel parcel offers a mixed-zoning of [Q]C2-1VL and R3-1.
The flexibility in the site offers a multitude of potential options in a dense LA County sub-market that has experienced year over year growth since 2010.
A UNIQUE VALUE-ADD COVERED LAND OPPORTUNITY TO ACQUIRE A PORTFOLIO OF THREE SEPARATE PARCELS CONSISTING OF A 114-ROOM MOTEL AND TWO COMMERCIAL SITES IDEALLY SITUATED ON 131,412 SF OF LAND (3.02 ACRES) ADJACENT TO 405 FREEWAY IN NORTH HILLS, CA
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
Building SF: 29,202 SF Land SF: 73,152 SF (1.82 Acres) Rooms: 114 Building SF: 5,564 SF Land SF: 36,817 SF (0.85 Acres) Building SF: 2,270 SF Land SF: 15,443 SF (0.35 Acres)
TOTAL LAND SF ZONING TOCTOTAL BUILDING SF
131,412 SF (3.02 ACRES) R3-1/[Q]C2-1VL TIER 137,036 SF
15701 Roscoe Boulevard 15725 Roscoe Boulevard
VAN NUYSLAKE BALBOA
SAN DIEGO FW
Y
OVER 430,000 VEHICLES PER DAY
NO
RT
H H
ILLS
PO
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FOLI
O15
711
RO
SC
OE
BLV
D15
701
RO
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725
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RV
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9
OVER 10,000 VEHICLES PER DAY
HASKELL AVENUE
Burger King
OVER 55,000 VEHICLES PER DAY
ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
15701 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
VAN NUYS AIRPORT
1.6 MILES FROM SUBJECT PROPERTY
CALIFORNIA STATE UNIVERSITY, NORTHRIDGE
4.0 MILES FROM SUBJECT PROPERTY
LAKE BALBOA PARK
2.9 MILES FROM SUBJECT PROPERTY
SEPULVEDA BASIN RECREATION AREA
3.2 MILES FROM SUBJECT PROPERTY10
LOC
ATIO
N O
VER
VIE
W
This North Hills Portfolio is ideally located along Roscoe Boulevard at the signalized intersection of Roscoe Boulevard and Haskel Avenue. Roscoe Boulevard is a main east/west commercial thoroughfare that spans the entire San Fernando Valley. The subject properties benefit from over 231 feet of frontage along Roscoe Boulevard, excellent ingress and egress at the signalized intersection, and outstanding freeway visibility from the Interstate 405 San Diego Freeway. Daily traffic counts exceed 45,000 vehicles per day along Roscoe Boulevard and over 430,000 vehicles per day along the 405 freeway. The site’s centralized East San Fernando Valley location is well positioned within one of LA County’s densest sub-markets within close proximity to downtown Los Angeles, the Westside, Warner Center, and all major airports.North Hills is a community in the East San Fernando Valley within the City of Los Angeles, California. With Northridge to the west, Panorama City to the east, Van Nuys to the south, and Granada Hills to the north, this densely populated sub-market has over 38,000 people and 9,900 households within one mile of the subject properties, over 320,000 people and 92,000 households within three miles, and over 772,000 people and 237,000 households within five miles.
The immediate area has undergone significant growth, with an over 6.6% growth in population over the last nine years and additional growth projected over the upcoming five years. The average household income is over $57,000 within one mile, over $70,000 within three miles of the subject properties, and over $79,000 within five miles of the subject properties. The median household income is over $39,000 within one mile and increased to over $50,000 and $58,000 within three and five miles respectively.
EXCELLENT EAST SAN FERNANDO VALLEY LOCATION IDEALLY POSITIONED ALONG ROSCOE BOULEVARD IN THE DENSELY POPULATED HIGH-GROWTH SUB-MARKET OF NORTH HILLS, CA
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
Van Nuys Airport San Diego 405 Freeway Through SFV Lake Balboa Park
11
SEPULVEDA BLVD
PANORAMA CITYNORTH HILLS EASTRAYMER N
OR
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SAN DIEGO FWY
OVER 430,000 VEHICLES PER DAY
OVER 55,000 VEHICLES PER DAY
ROSCOE BOULEV
ARD
OVER 10,000 VEHICLES PER DAY
HASKELL AVENUE
Burger King15701 ROSCOE
BOULEVARD
15711 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
SIGNIFICANT VALUE-ADD COVERED LAND OPPORTUNIT Y
•Unique value-add covered land opportunity to acquire 3.02 acres of land with underperforming structures in a dense East San Fernando Valley location
•Portfolio presents a multitude of potential options and creates a value-add proposition for investors looking to re-position well-located East San Fernando Valley properties with large footprints of land
• Properties can be purchased as a portfolio, individually, or a combination of the two
1
12
SAN DIEGO FWY OVER 430,000 VEHICLES PER DAY
OV
ER 5
5,00
0 V
EHIC
LES
PER
DAY
ROSC
OE
BOU
LEVA
RD
OVER 10,000 VEHICLES PER DAYHASKELL AVENUE
131,412 SQUARE FEET OF LAND (3.02 ACRES) IN A TIER 1 TOC
• Tier 1 TOC presents density bonus options
• Strong East San Fernando Valley location creates a unique opportunity to re-develop over three acres of land within an emerging sub-market
• Strong demand for housing in the immediate area due to robust population growth
• Close proximity to transit
•There may be the potential to acquire an additional 17,943 square feet of land which was dedicated to the city of Las Angeles for the extension of Haskell Avenue
2INV
ESTM
ENT
HIG
HLI
GH
TS
15725 ROSCOE BOULEVARD 15711 ROSCOE
BOULEVARD
15701 ROSCOE BOULEVARD
NO
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H H
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PO
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FOLI
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711
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701
RO
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STRONG PERFORMING MOTEL 6 WITH EXCELLENT OPERATING HISTORY
EXCELLENT EAST SAN FERNANDO VALLE Y LOCATION
• Strong performing Motel 6 with excellent operating history on a short-term lease
• 114 rooms with amenities including swimming pool, laundry facilities, and vending machine
• Annual revenue exceeds $2,700,000
• Potential for an operator to take over operations
• Large footprint of land
• Excellent freeway visibility from the Interstate 405 Freeway
• Signalized corner location at Roscoe Boulevard and Haskell Avenue
• High daily traffic counts along Roscoe Boulevard exceeding 45,000 vehicles per day
• Excellent freeway visibility along the Interstate 405 Freeway with over 430,000 vehicles per day passing the subject properties
3 5
COMMERCIAL SITES OFFER A MULTITUDE OF OPTIONS DENSE IMMEDIATE SUB-MARKET
• Excellent location along Roscoe Boulevard at a signalized intersection creates a significant re-positioning opportunity
• Sites are ideal to attract a large cross-section of national and regional tenants
• Commercial sites are ideally positioned for an owner-user to immediate occupy for their own business use
• 231 feet of frontage along Roscoe Boulevard
• Rare auto-use creates value to an owner-user operator
• Excellent location directly off the 405 Freeway will allow businesses to prosper
•Over 38,000 people within one mile of the subject properties, over 320,000 people within three miles, and over 772,000 people within five miles
•9,900 households within one mile of the subject properties, 92,000 households within three miles, and over 237,000 households within five miles
•Average household income is over $57,000 within one mile, over $70,000 within three miles of the subject properties, and over $79,000 within five miles
•Median household income is over $39,000 within one mile and increased to over $50,000 and $58,000 within three and five miles respectively
• 6.66% population growth between 2010 – 2019 with strong growth projections over the next five years
4 6
14
PORT
FOLI
O IN
FOR
MAT
ION
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
ADDRESS 15701, 15711 & 15725 Roscoe BoulevardNorth Hills, CA 91343
TOTAL PRICE Request For Offers
TOTAL BUILDING SF 37,036 SF
TOTAL LOT SIZE 131,412 SF (3.02 Acres)
APN NUMBER15711 Roscoe Boulevard: 2673-014-06615701 Roscoe Boulevard: 2673-014-06515725 Roscoe Boulevard: 2673-014-068
ZONING15711 Roscoe Boulevard: R3-1/[Q]C2-1VL*
15701 Roscoe Boulevard: [Q]C2-1VL*15725 Roscoe Boulevard: [Q]C2-1VL*
TOC Tier 1
37,036TOTAL BLDG SF
131,412TOTAL LAND SF
TIER 1TRANSIT ORIENTED COMMUNITY
15711
PRICE Request For Offers
BUILDING SF 29,202 SF
LAND SF (ACRES) 79,152 SF (1.82 Acres)
NUMBER OF ROOMS 114
PARKING SPACES 99 Parking Spaces
PARKING RATIO 3.39 per 1,000 SF
YEAR BUILT 1979
APN NUMBER 2673-014-066
ZONING R3-1/[Q]C2-1VL
TOC Tier 1
Motel 6 - 15711 Roscoe Boulevard, North Hills, CA 91343
The properties can be purchased as a portfolio, individually or a combination of the two
* [Q] Conditions: 1. Residential development shall be limited to the density permitted in the RE 11 Zone. 2. No hotel or motel use shall be permitted.
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15701 15725
PRICE Request For Offers
BUILDING SF 5,564 SF
LAND SF (ACRES) 36,817 SF (0.85 Acres)
PARKING SPACES 60 Parking Spaces
PARKING RATIO 10.78 per 1,000 SF
YEAR BUILT 1978
APN NUMBER 2673-014-065
ZONING [Q]C2-1VL
TOC Tier 1
PRICE Request For Offers
BUILDING SF 2,270 SF
LAND SF (ACRES) 15,443 SF (0.35Acres)
PARKING SPACES 80 Parking Spaces
PARKING RATIO 35.24 per 1,000 SF
YEAR BUILT 1989
APN NUMBER 2673-014-068
ZONING [Q]C2-1VL
TOC Tier 1
15701 Roscoe Boulevard, North Hills, CA 91343 15725 Roscoe Boulevard, North Hills, CA 91343
16
ZON
ING
INFO
RM
ATIO
N
Zoning R3-1 & [Q]C2-1VL* [Q]C2-1VL* [Q]C2-1VL*
Total Land SF 79,152 36,817 15,443
Total Land SF (R3-1) 66,097 - -
Total Land SF [Q]C2-1VL 13,055 36,817 15,443
TOC Tier 1 Tier 1 Tier 1
By-Right Units R3 83 - -
By-Right Units C2 33 92 39
Total By-Right Units 116 - -
Density Bonus 50% 58 50% 46 50% 19
Percentage of Very Low 11% 19 11% 15 11% 6
Total Units 174 138 58
Market Rate Units 155 123 52
Very Low Income Units 19 15 6
By-Right FAR R3-1 3.00 198,291 - -
Density Bonus FAR R3-1 40% Increase 277,607 - -
By-Right FAR C2-1VL 1.50 19,583 1.50 55,226 1.50 23,165
Density Bonus C2-1VL 2.75 35,901 2.75 101,247 2.75 42,468
Total Buildable SF By-Right 217,874 55,226 23,165
Total Buildable SF Density Bonus 313,509 101,247 42,468
By-Right Height Limit 45' 45' 45'
Height Limit w/TOC 56' 56' 56'
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
15711 15701 15725Motel 6 - 15711 Roscoe BoulevardNorth Hills, CA 91343
15701 Roscoe BoulevardNorth Hills, CA 91343
15725 Roscoe BoulevardNorth Hills, CA 91343
* This analysis contemplates the removal of the Q condition through obtaining a variance.
SAN DIEGO FWY OVER 430,000 VEHICLES PER DAY
OVER 10,000 VEHICLES PER DAYHASKELL AVENUE
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15701 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
OV
ER 55,000 VEH
ICLES PER DAY
ROSCO
E BOU
LEVARD
15725 ROSCOE BOULEVARD
EASEMENTPOTENTIAL TO VACATE EASEMENT – There is an easement, as pictured in the adjacent photo highlighted in red, that was originally intended to serve as an extension to Haskell Avenue. This easement currently serves as the entrance to Motel 6. In the event all three properties are purchased as a portfolio, there may be the potential to vacate the easement and acquire more land square footage. The total land square footage of the easement is approximately 17,943 square feet. Please contact the listing agents for more information.
15725 ROSCOE BOULEVARD
15701 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
2
20
EXEC
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SUM
MA
RY
15711 Roscoe Boulevard consists of a 114 Room Motel 6 situated on approximately 79,152 square feet of land with excellent access and freeway visibility from the Interstate 405 Freeway. Motel 6 is currently leasing the property until January 31, 2024. Their current rent is 5.5% of annual revenues. 2018 revenue was approximately $2,730,504. Motel 6 has no additional options to extend the terms of their lease, allowing an experienced operator a unique opportunity to acquire a seasoned and successful motel location with positive operating history. The site offers amenities including a swimming pool, laundry facilities, and a vending machine.
15711 Roscoe Boulevard is ideally situated on 79,152 square feet of lane with a mixed zoning of R3-1 and [Q] C2-1VL. The site is located within a Tier 1 Transit Oriented Community (TOC). Of the total 79,152 square feet of land, approximately 66,097 square feet is zoned R3-1 and 13,055 square feet is zoned [Q] C2-1VL. “By-right”, a developer can build 83 units, and through the utilization of the TOC, you can build up to 125 units. The current FAR is 3.00, and through the utilization of the TOC, you can increase the FAR by 40% to a 4.20 FAR. There is a 45-foot height restriction, which can be increased to 56 feet through the utilization of the TOC.
A 114 ROOM MOTEL 6 IDEALLY SITUATED ON 79,152 SQUARE FEET OF LAND (1.82 ACRES) ZONED R3-1/[Q] C2-1VL IN A TIER 1 TOC
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
• Current lease in place with Motel 6 through January 31, 2024 with no options to extend
• Strong operating revenues exceeding $2,700,000 annually
• Amenities include swimming pool, laundry facilities, and vending machine
• Long-term successful operating history
• Mixed zoning of R3-1/[Q] C2-1VLcreates potential development opportunity
• Short term lease creates opportunity for an operator to acquire a successful nationally branded operating motel
114 ROOM MOTEL 6 SITUATED ON 79,152 SQUARE FEET OF LANDINVESTMENT HIGHLIGHTS
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SAN DIEGO FWY OVER 430,000 VEHICLES PER DAY
OVER 55,000 VEHICLES PER DAY
ROSCOE BOULEVARD
OVER 10,000 VEHICLES PER DAY
HASKELL AVENUE
29,202 79,152 114 NNNBUILDING SF LAND SF NO. OF ROOMS LEASE TYPE
22
PRO
PERT
Y H
IGH
LIG
HTS
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
ADDRESSMOTEL 6
15711 ROSCOE BOULEVARDNORTH HILLS, CA 91343
PRICE Request For Offers
BUILDING SF 29,202 SF
LAND SF (ACRES) 79,152 SF (1.82 Acres)
NUMBER OF ROOMS 114
PARKING SPACES 99 Parking spaces
PARKING RATIO 3.39 per 1,000 SF
YEAR BUILT 1979
APN NUMBER 2673-014-066
ZONINGR3-1/[Q]C2-1VL
R3-1 Land SF: 66,097[Q]C2-1VL: 13,055
TOC Tier 1
SUMMARY OF TERMS
Interest Offered100% fee simple interest in Motel 6 located at 15711 Roscoe Boulevard, a 29,202 SF motel situated on 1.82 acres of land in North Hills, CA, 91343.
Terms of the SaleProperty is being offered on a free and clear basis.
Property ToursProspective purchases are encouraged to visit the site and review all due diligence materials prior to submitting offers. Access to an outline due diligence portal is available. All property tours must be coordinated through the listing agents.
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SITE LOCATION
SQUARE FOOTAGES
TRAFFIC COUNTS
PARKING SPACES
YEAR BUILT
APN NUMBER
ZONING
TOC
The subject property is located just east of the northwest corner of Rosoce Boulevard and San Diego 405 Freeway.
The building square footage is 29,202 SF. The land square footage is 79,152 SF (1.82 acres). R3-1 land SF is 66,097. [Q]C2-1VL land SF is 13,055.
Roscoe Boulevard: Approximately 55,260 vehicles every day.San Diego 405 Freeway: Approximately 433,000 vehicles every day.Haskell Avenue: Approximately 10721 vehicles every day.
99 Surface parking spaces. Ratio of 3.39 per 1,000 SF.
The property was built in 1979.
The APN Number is 2673-014-066.
The zoning is R3-1/[Q]C2-1VL.
The property is in a Tier 1 TOC.
ZONING
R3-1/[Q]C2-1VL
TOC
TIER 1
PARKING
9924
PRO
PERT
Y D
ETA
ILS
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
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ANNUAL ROOM REVENUE RENT - 5.5% OF GROSS REVENUE
2018 $2,730,504.77 $150,177.76
2017 $2,570,603.93 $141,383.22
2016 $2,536,000.00 $139,480.00
2015 $2,322,600.00 $127,743.00
2014 $2,074,600.00 $114,103.00
2013 $1,757,981.82 $96,689.00
2012 $1,694,418.18 $93,193.00
2011 $1,724,836.36 $94,866.00
2010 $1,642,581.82 $90,342.00
2009 $1,757,036.36 $96,637.00
2008 $2,149,527.27 $118,224.00
26
LEA
SE A
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AC
T
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
Lease Start 1/25/1977
Lease Expiration 1/31/2024*
Options None Remaining
Lease Type NNN
Rent Tenant shall pay a minimum annual rent of $24,264 and the year end overage equal to 5.5% of Gross Revenue
* There may be the potential to terminate the lease with Motel 6 prior to the expiration of the lease term. Please contact the listing agents for additional information.
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MOTEL 6 IS RANKED #73 IN THE FRANCHISE 500
Motel 6 is a U.S. privately owned hospitality company with a chain of budget motels in the United States and Canada. Motel 6 also operates Studio 6, a chain of extended-stay hotels. The hotel brand is owned by The Blackstone Group, which established G6 Hospitality as the management company for Motel 6 and Studio 6.
Motel 6 was founded in Santa Barbara, California, in 1962, by two local building contractors: William Becker and Paul Greene.The partners developed a plan to build motels with rooms at low cost rates. They decided on a $6 room rate per night (equivalent to $50 in 2018), which would cover building costs, land leases, and janitorial supplies; hence the company name “Motel 6”.
Motel 6 is a leader in budget hotels in the United States and is also present in Canada. The chain offers the best price value at all of its locations and provides the following services: cable television with premium channels, free local calls, free coffee in the morning, non smoking rooms, free accommodation for children and Wi-Fi Internet connection – all for the lowest price of any American hotel chain.
SERVING OUR GUESTS
For more than 55 years, Motel 6 has offered travelers a clean, comfortable room with great service at a fair price.
SERVING OURTEAM MEMBERS
A willingness to collaborate and work together is a hallmark of Motel 6’s culture.
SERVING OURCOMMUNITIES
Motel 6 is a diverse and inclusive company that is also committed to being a
good corporate citizen.
SERVING OURFRANCHISE OWNERS
Motel 6 created the economy lodging segment in 1962 and it continues to
lead it today.
28
TEN
AN
T PR
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BRAND NAME Motel 6
TYPE Private
INDUSTRY Hospitality
FOUNDED 1962
FOUNDERS William Becker; Paul Greene
HEADQUARTERS Carrollton, Texas, U.S.
BRANDS Motel 6; Studio 6
NO. OF LOCATIONS 1,430 (2018)
AREA SERVED United States; Canada
OWNER The Blackstone Group
PARENT G6 Hospitality
SERVICES Budget hotels; Extended-stay hotels
WEBSITE www.motel6.com
COMPANY PROFILE
The best place to find a clean, comfortable room with great service at a fair price for
more than 55 years.
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15701 ROSCOE BOULEVARD
315725 ROSCOE
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15711 ROSCOE BOULEVARD
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15701 Roscoe Boulevard consists of a vacant 5,564 SF vacant building ideally situated on 36,817 SF of land zoned [Q] C2-1VL providing for a multitude of potential options. The subject property benefits from an exceptional location along Roscoe Boulevard, excellent ingress and egress, and superior visibility and frontage.
15701 Roscoe Boulevard offers an investor a unique opportunity to re-position the site and create significant value, a developer a myriad of opportunities and significant redevelopment potential, and an Owner-User buyer a unique opportunity to acquire a well-located site for their own business use.
In the event the Q condition can be removed through obtaining a variance, the C2 zoning allows for a multitude of development options, including 92 units by right and 138 units through the implementation of the TOC. The current FAR is 1.50, with the TOC bonus allowing an increased FAR of 2.75. There is a current height limit of 45 feet, which can be increased to 56 feet through the utilization of the TOC.
A SIGNIFICANT VALUE-ADD OPPORTUNITY CONSISTING OF A 5,564 SQUARE FOOT BUILDING IDEALLY SITUATED ON 36,817 SQUARE FEET OF LAND ZONED [Q] C2-1VL IN A TIER 1 TOC WITH 136 FEET OF FRONTAGE ALONG ROSCOE BOULEVARD
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
• 5,564 SF vacant building situated on 36,817 SF of land zoned [Q] C2-1VL
• Site is ideal for a wide mix of national retailers from a myriad of diverse sectors
• Potential development opportunity
• Ideal owner-user opportunity
A SIGNIFICANT VALUE-ADD OPPORTUNITY IDEALLY SITUATED ON 36,817 SQUARE FEET OF LAND
INVESTMENT HIGHLIGHTS
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1570
1 R
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SAN DIEGO FWY
OVER 430,000 VEHICLES PER DAY
OVER 55,000 VEHICLES PER DAY
ROSCOE BOULEVARD
OVER 10,000 VEHICLES PER DAY
HASKELL AVENUE
34
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SUMMARY OF TERMS
Interest Offered100% fee simple interest in 15701 Roscoe Boulevard, a 5,564 SF retail building situated on 36,817 SF of land in North Hills, CA, 91343.
Terms of the SaleProperty is being offered on a free and clear basis.
Property ToursProspective purchases are encouraged to visit the site and review all due diligence materials prior to submitting offers. Access to an outline due diligence portal is available. All property tours must be coordinated through the listing agents.
5,564 36,817BUILDING SF LAND SF
ADDRESS 15701 ROSCOE BOULEVARDNORTH HILLS, CA 91343
PRICE Request For Offers
BUILDING SF 5,564 SF
LAND SF (ACRES) 36,817 SF (0.85 Acres)
PARKING SPACES 60 Parking Spaces
PARKING RATIO 10.78 per 1,000 SF
YEAR BUILT 1978
APN NUMBER 2673-014-065
ZONING [Q]C2-1VL
TOC Tier 1
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
60 10.78PARKING SPACES PARKING RATIO
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SQUARE FOOTAGES
TRAFFIC COUNTS
PARKING SPACES
YEAR BUILT
APN NUMBER
ZONING
TOC
The subject property is located at the northeast corner of Rosoce Boulevard and San Diego 405 Freeway.
The building square footage is 5,564 SF. The land square footage is 36,817 SF (0.85 acres).
Roscoe Boulevard: Approximately 55,260 vehicles every day.San Diego 405 Freeway: Approximately 433,000 vehicles every day.Haskell Avenue: Approximately 10721 vehicles every day.
60 Surface parking spaces. Ratio of 10.78 per 1,000 SF.
The property was built in 1978.
The APN Number is 2673-014-065.
The zoning is [Q]C2-1VL.
The property is in a Tier 1 TOC.
ZONING
[Q]C2-1VL
TOC
TIER 1
YEAR BUILT
1978
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
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15701 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
415725 ROSCOE
BOULEVARD
15711 ROSCOE BOULEVARD
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15725 Roscoe Boulevard consists of a 2,270 SF building ideally situated on 15,443 SF of land zoned [Q] C2-1VL providing for a multitude of potential options. The subject property benefits from an exceptional location along Roscoe Boulevard, excellent ingress and egress, and superior visibility and frontage.
15725 Roscoe Boulevard offers an investor a unique opportunity to re-position the site and create significant value, a developer a myriad of opportunities and significant redevelopment potential, and an Owner-User buyer a unique opportunity to acquire a well-located site for their own business use.
In the event the Q condition can be removed through obtaining a variance, the C2 zoning allows for a multitude of development options, including 38 units by right and 58 units through the implementation of the TOC. The current FAR is 1.50, with the TOC bonus allowing an increased FAR of 2.75. There is a current height limit of 45 feet, which can be increased to 56 feet through the utilization of the TOC.
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
A SIGNIFICANT VALUE-ADD OPPORTUNITY CONSISTING OF A 2,270 SQUARE FOOT AUTO-USE PROPERTY IDEALLY SITUATED ON 15,443 SQUARE FEET OF LAND ZONED [Q] C2-1VL IN A TIER 1 TOC WITH 95 FEET OF FRONTAGE ALONG ROSCOE BOULEVARD
• 2,270 SF building situated on 15,443 SF of land zoned [Q] C2-1VL
• Rare auto use property
• Site is ideal for a wide mix of national retailers from a myriad of diverse sectors
• Potential development opportunity
• Ideal owner-user opportunity
A RARE AUTO-USE PROPERTY IDEALLY SITUATED ON 15,443 SQUARE FEET OF LANDINVESTMENT HIGHLIGHTS
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SAN DIEGO FWY
OVER 430,000 VEHICLES PER DAY
OVER 55,000 VEHICLES PER DAY
ROSCOE BOULEVARDOVER 10,000 VEHICLES PER DAY
HASKELL AVENUE
42
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SUMMARY OF TERMS
Interest Offered100% fee simple interest in 15725 Roscoe Boulevard, a 2,270 SF retail building situated on 15,443 SF of land in North Hills, CA, 91343.
Terms of the SaleProperty is being offered on a free and clear basis.
Property ToursProspective purchases are encouraged to visit the site and review all due diligence materials prior to submitting offers. Access to an outline due diligence portal is available. All property tours must be coordinated through the listing agents.
2,270 15,443 80 35.24BUILDING SF LAND SF PARKING SPACES PARKING RATIO
ADDRESS 15725 ROSCOE BOULEVARDNORTH HILLS, CA 91343
PRICE Request For Offers
BUILDING SF 2,270 SF
LAND SF (ACRES) 15,443 SF (0.35Acres)
PARKING SPACES 80 Parking spaces
PARKING RATIO 35.24 per 1,000 SF
YEAR BUILT 1989
APN NUMBER 2673-014-068
ZONING [Q]C2-1VL
TOC Tier 1
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
*There is currently a tenant in place on a month to month lease paying $7,350 per month.
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TRAFFIC COUNTS
PARKING SPACES
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APN NUMBER
ZONING
TOC
The subject property is located at the northwest corner of Rosoce Boulevard and Haskell Avenue.
The building square footage is 2,270 SF. The land square footage is 15,443 SF (0.35 acres).
Roscoe Boulevard: Approximately 55,260 vehicles every day.San Diego 405 Freeway: Approximately 433,000 vehicles every day.Haskell Avenue: Approximately 10721 vehicles every day.
80 Surface parking spaces. Ratio of 35.24 per 1,000 SF.
The property was built in 1989.
The APN Number is 2673-014-068.
The zoning is [Q]C2-1VL.
The property is in a Tier 1 TOC.
ZONING
[Q]C2-1VL
TOC
TIER 1
YEAR BUILT
1989
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
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15711 ROSCOE BOULEVARD
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MOTEL SALES COMPARABLES
5
48
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1
2
4 3
North Hills Portfolio
1 Ramada
2 Howard Johnson
3 Mikado Hotel
4 17448 Ventura Blvd
15701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
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# ADDRESS SALE PRICE BLDG SF LAND SF NO. OF ROOMS
PRICE/SF(BLDG)
PRICE/SF (LAND) PRICE/ROOM CAP RATE ZONING CLOSE OF
ESCROW
121340 Devonshire StRamadaChatsworth, CA 91311
$7,850,000 37,374 32,234 72 $210.04 $243.53 $109,028 7.49% LAC4 7/3/2018
27430 Reseda BlvdHoward JohnsonReseda, CA 91335
$13,800,000 31,569 52,756 74 $437.14 $261.58 $186,486 9.50% P1-1, Los Angeles 10/22/2018
312600 Riverside DrMikado HotelValley Village, CA 91607
$10,450,000 27,847 70,567 58 $375.26 $148.09 $180,172 6.78% LAP 11/29/2018
417448 Ventura BlvdEncino, CA 91316 $4,800,000 9,286 25,700 26 $516.91 $186.77 $184,615 - C4-IVL
and RA-1 12/7/2017
AVERAGE $9,225,000 26,519 45,314 58 $384.84 $209.99 $165,075 7.92% - -
$385AVG PRICE/SF (BLDG)
$210AVG PRICE/SF (LAND)
$165,075AVG PRICE/ROOM
49
15701 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
RETAIL SALES COMPARABLES
5
52
1
2
3
4
North Hills Portfolio
1 12861 Encinitas Ave
2 9505 Sepulveda Blvd
3 11015 Sepulveda Blvd
4 14054-14072 Vanowen St 15701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343
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15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
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# ADDRESS SALE PRICE BLDG SF LAND SF PRICE/SF(BLDG)
PRICE/SF (LAND) ZONING CLOSE OF
ESCROW
112861 Encinitas AveDenny’s RestaurantSylmar, CA 91342
$1,675,000 4,381 33,541 $382.33 $49.94 PF, Los Angeles 11/20/2018
29505 Sepulveda BlvdCarl’s Jr.North Hills, CA 91343
$2,500,000 4,014 37,026 $622.82 $67.52 LAC2 12/24/2018
311015 Sepulveda BlvdMcDonald’sMission Hills, CA 91345
$3,100,000 5,256 33,829 $589.80 $91.64 LAP 12/03/2018
414054-14072 Vanowen StVan Nuys, CA 91405 $2,950,000 9,125 18,731 $323.29 $157.49 C2 3/20/2019
AVERAGE $2,556,250 5,694 30,782 $479.56 $91.65 - -
$480AVG PRICE/SF (BLDG)
$92AVG PRICE/SF (LAND)
15701 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
RETAIL RENT COMPARABLES
5
56
2
34
North Hills Portfolio
1 7221 Van Nuys Blvd
2 9132-9160 Sepulveda Blvd
3 15421-15449 Parthenia St
4 13767-13811 Roscoe Blvd
115701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343
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15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
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# ADDRESS LEASABLE SF SF AVAILABLE RENT/SF/MONTH RENT/SF/YEAR LEASE T YPE
17221 Van Nuys BlvdVan Nuys Center ShopsVan Nuys, CA 91405
6,825 2,530 $3.50 $42.00 -
29132-9160 Sepulveda Blvd North Hills, CA 91343 61,900 4,920 $3.30 $39.60 -
315421-15449 Parthenia St North Hills, CA 91343 8,853 3,000 $3.10 $37.20 -
413767-13811 Roscoe BlvdRoscoewood CenterPanorama City, CA 91402
12,835 12,593 $4.50 $54.00 MG
AVERAGE 22,603 5,761 $3.60 $43.20 -
$3.60AVG RENT/SF/MONTH
$43.20AVG RENT/SF/YEAR
15701 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
MULTI-FAMILY RENT COMPARABLES
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12 3
4
5
6
North Hills Portfolio
1 Balboa Court Apartments
2 Orion Luxury Apartments
3 Cielo Apartments
4 Woodley Plaza Apartments
5 Thirty-Three North Apartment
6 Village Pointe Apartments
15701, 15711, 15725 Roscoe Boulevard • North Hills, CA 91343
15701, 15711 & 15725 Roscoe Boulevard • North Hills, CA 91343
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# ADDRESS SQUARE FOOTAGE RENT/MONTH RENT/SF UNIT T YPE
1Balboa Court Apartments16915 Napa StNorthridge, CA 91343
1,250 - 1,293 $2,595 $2.08 3BRs + 2BAs
2Orion Luxury Apartments8435 Orion AveNorth Hills, CA 91343
1,160 - 1,500 $2,495 $2.15 3BRs + 2BAs
3Cielo Apartments8525 Tobias AvePanorama City, CA 91402
850 $1,880 $2.21 2BRs + 2BAs
4Woodley Plaza Apartments10139 Woodley AveNorth Hills, CA 91343
900 $1,850 $2.06 1BR + 1BA
5Thir ty-Three North Apartment8935 N Orion AveNorth Hills, CA 91343
699 $1,775 $2.54 1BR + 1BA
6Village Pointe Apartments17171 Roscoe BlvdNorthridge, CA 91325
650 $1,858 $2.86 1BR + 1BA
AVERAGE - $2,076 $2.32 -
$2.32AVG RENT/SF
$2,076AVG RENT/MONTH
15701 ROSCOE BOULEVARD
15711 ROSCOE BOULEVARD
15725 ROSCOE BOULEVARD
AREA OVERVIEW
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NORTHRIDGE: 4 MILES BURBANK: 15 MILES HOLLYWOOD: 17 MILES
North Hills is a community in the north-central San Fernando Valley, and within the City of Los Angeles, California.
North Hills was originally an agricultural community known as Mission Acres. After WWII, the newly-developed suburban community was renamed Sepulveda. In the latter 1990s, it was renamed North Hills.
North Hills is about a 5.41 square mile neighborhood in San Fernando Valley. North Hills is bordered by Northridge to the west, Panorama City to the east, Van Nuys to the south, and Granada Hills to the north. The main thoroughfares include Sepulveda Boulevard, Roscoe Boulevard, Hayvenhurst, Woodley and Haskell Avenue. North Hills has easy access to the rest of Los Angeles via the San Diego 405 Freeway.
San Fernando Valley
64
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DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
2019 Total Population: 38,034 317,668 761,921
2019 Owner Occupied Housing Units 38,702 321,953 772,794
Average Age: 32.90 35.90 37.10
2019 Total Households: 9,769 90,995 234,989
Avg Household Size: 3.80 3.40 3.10
2019 Owner Occupied Households: 2,634 38,313 107,512
2019 Renter Occupied Households: 7,135 52,683 127,477
2019 HOUSEHOLDS BY HOUSEHOLD INCOME
<$25,000 3,088 22,712 52,681
$25,000 - $50,000 2,701 22,635 50,542
$50,000 - $75,000 1,501 14,743 39,876
$75,000 - $100,000 969 11,036 28,613
$100,000 - $125,000 626 7,108 21,166
$125,000 - $150,000 352 4,814 14,048
$150,000 - $200,000 299 4,259 14,127
$200,000+ 233 3,688 13,937
$150,000 - $199,999 1.2% 3.4% 4.0%
$200,000 - $249,999 0.6% 1.0% 1.4%
$250,000 + 1.0% 1.8% 2.4%
2019 Median Household Income $39,740 $50,226 $58,53
2019 Average Household Income $57,850 $70,314 $79,721
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The San Fernando Valley is an urbanized valley in Los Angeles County, California in the Los Angeles metropolitan area, defined by the mountains of the Transverse Ranges circling it. Home to 1.77 million people, it is north of the larger, more populous Los Angeles Basin.
Nearly two thirds of the valley’s land area is part of the city of Los Angeles. The other incorporated cities in the valley are Glendale, Burbank, San Fernando, Hidden Hills, and Calabasas. Locals refer to the San Fernando Valley simply as “the Valley”.
Known for its enter tainment industry, the Valley boasts more than 100 soundstages. Enter tainment giants calling the Valley home include Walt Disney Co., Universal Studios, Warner Brothers, DreamWorks and Paramount Ranch. The enter tainment industry continues to set the area’s economic pulse. Local motion-picture and enter tainment companies employ roughly 25,000 people.
While the Valley has grown into the world’s center for enter tainment, aerospace giants Boeing and Northrop Grumman, and 21st Century Insurance also generate numerous well-paying jobs.
As home to the world’s major movie studios, the San Fernando Valley is where celebrities live, work and play. It’s made up of gorgeous suburbs and mini-malls. Major network and movie studios call it home
SAN FERNANDO VALLEY, CA
• Los Angeles• Burbank• Calabasas
• Bell Canyon• Calabasas Highlands• Kagel Canyon
• Glendale• Hidden Hills• San Fernando
• Universal City• West Chatsworth
INCORPORATED CITIES UNINCORPORATED CITIES
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• 2.5 million residents in the San Fernando Valley• Population growth projected – 45,000 new residents by 2019• Strong ties to the entertainment industry – Home of Walt Disney Company, Universal Studios, Warner Brothers, DreamWorks and Paramount Ranch• Local motion picture and entertainment companies employ roughly 25,000 people• Aerospace (Boeing & Northrop Grumman) Insurance (21st Century Insurance) and Healthcare (Kaiser Permanente and Providence Health & Services) industries also generate numerous well-paying jobs• Substantial income growth since 2000• Home ownership rate near 50% and large rental base
SAN FERNANDO VALLEY HIGHLIGHTS
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Universal CitywalkAdjacent to the Universal Studios Theme Park, Universal CityWalk offers up a plethora of quirky and unique shopping options, as well as a handful of traditional favorites in an entertaining outdoor setting.
Burbank Town Center MallThe Burbank Town Center Mall at the end of San Fernando along Magnolia Blvd. has many of the chain favorites, including Macy’s, Sears and Bed, Bath & Beyond. Boutiques include Victoria’s Secret, Forever 21 Aeropostale and much more.
Ventura BoulevardVentura Boulevard, a strip of high-end restaurants and shops that stretches from Universal City to Thousand Oaks, is the Valley’s backbone.
The Village at Westfield TopangaA brand new central gathering place for shopping, dining, events, entertainment and leisure. The open-air destination offers al fresco patio dining, a full-service gym, spa and yoga studio, along with a weekly farmer’s market. There are also children’s play areas, bocce ball courts and outdoor lounges.
Glendale GalleriaThe Glendale Galleria is a large three-story regional shopping center and office complex. Opened in 1976, with 1.6 million square feet of retail space, it is the fourth largest mall in Los Angeles County after Westfield Topanga, Lakewood Center and Del Amo Fashion Center.
12MilesFrom Subject Property
18MilesFrom Subject Property
9 MilesFrom Subject Property
6 MilesFrom Subject Property
15MilesFrom Subject Property
SHOPPING & RETAIL
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EA O
VER
VIE
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Total Population of North Hills, CA. The median age is 42.
Male
EDUCATION
SUMMARY
Female
65,964
51%49%
High School Graduate36%
Master’s Degree or Higher5%
Bachelor’s Degree18%
Some College or Associates Degree28%
An ethnically diverse mix of working class people populate this area. You’ll see cuisine options ranging from African, Filipino, to Mexican, and more. There is very little traffic congestion in the neighborhood. Plenty of commercial outlet shopping options are readily available as well as small and independent businesses. North Hills has a charming and subtle vibe that’s perfect for families with children. You many also recognize locations where “Terminator 2” starring Arnold Schwarzenegger was filmed.
DEMOGRAPHICS
NO
RT
H H
ILLS
PO
RT
FOLI
O15
701
RO
SC
OE
BLV
D15
711
RO
SC
OE
BLV
D15
725
RO
SC
OE
BLV
DC
OM
PA
RA
BLE
S A
NA
LYSI
S
107,512Owner Occupied Households
within 5-m radius
127,477Renter Occupied Households
within 5-m radius
30,183Businesses within a 5-m radius
$79,721Average HH income within 5-m radius
$58,533Median HH income within 5-m radius
761,921Population within 5-m radius
AR
EA
OV
ER
VIE
W
71
G R O U P
BRANDON MICHAELS
SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) 212-2710bmichaels@marcusmillichap.comLicense: CA #01434685www.BrandonMichaelsGroup.com
STEVEN SCHECHTERFirst Vice President InvestmentsDirector, National Retail GroupTel: (818) 212-2793Fax: (818) 212-2710steven.schechter@marcusmillichap.comLicense: CA #01089464www.BrandonMichaelsGroup.com
SEAN BRANDTInvestment AssociateNational Retail GroupTel: (818) 212-2653Fax: (818) 212-2710sean.brandt@marcusmillichap.comLicense: CA #01755166www.BrandonMichaelsGroup.com
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