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FENTON15
1. Close with Final Map “Ready to Record”2. Buyer may use house plans in plan check or process their own.
FENTON15
2 SFR + 13 Detached Condo Development Site
Lake View Terrace [Los Angeles City], CA
2.17 Acres
Introduction
There are very few areas of the City of Los Angeles where can one build homes that areattainably priced while still offering some “elbow room”.
One of theses pockets of the City of Los Angeles is Lake View Terrace. Sylmar’s “higher-end” neighbor is quickly becoming a hotbed of new residential development forhousing product more typical to traditional suburban markets found in Orange Countyand the Inland Empire. The location maintains great accessibility to the urban core,Pasadena, Santa Clarita, and the rest of the SFV thus making it a viable neighborhoodfor the homebuyer looking for the most “bang for the buck” without leaving the City ofLos Angeles.
This “needle in a haystack” infill site is situated within a mature subdivision and hasundergone a rigorous and lengthy entitlement process which includes an approved(and extended) zone change, vesting tentative tract map, and construction drawings.The project is vested out of both the Linkage Fee and JJJ and therefore could not bereplicated in today’s legislative environment.
The land-owner is selling the real estate with entitlements and building plans included inthe price of the land.
Please contact Listing Broker; Evanisko Realty & Investment, Inc. for additionalinformation regarding your interest in acquiring this development opportunity.
Evanisko Realty & Investment, Inc.
Frank Evanisko
818.985.9700
BRE: 01383591
www.TheDevelopmentBrokers.com
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❑ Irreplaceable Entitlements. Project entitlements include a zone change,
and vesting tentative tract map vested prior to JJJ and the Linkage Fee. The last
vestige of a legislative environment no longer in existence.
❑ Strategically Located and Timed. Within the Lake View Terrace
neighborhood of the City of Los Angeles; a location quickly emerging as a
coveted area for the development of attainable yet spacious new homes. The
perfect alignment of product type, location, and timing.
❑ Anticipated Home Values: $675,000 average across both product types.
❑ Land Price. $1,990,000 [$132,667 per paper lot / 20% of home value]
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Site and Situation.
1. Site / Pages 6-16
This section provides key housing sales data required to formulate
revenue assumptions for the subject development.
2. Situation // Pages 17-37
This section provides all essential information pertaining to the subject
development site including a detailed description of the entitlements for
15 detached condominium units.
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The Property:
11761 Fenton Ave. Los Angeles [Lake View Terrace], CA 91342. APN: 2531-009-013.
94,373 SF [2.17 acres] of land currently zoned (T)(Q)RD6-1 and (T)(Q)RS-1
Price: $2,595,000 $1,990,000
[$132,667 Per Entitled Door and 20% of anticipated gross project revenue]
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The Entitlements:
a. The proposed development shall be limited to a maximum of 1 single-family
dwelling on Lot Nos. 1 and 2, for a maximum of 2 single-family dwelling units. The
project shall comply with the provisions of the RS-1 Zone, pursuant to Los Angeles
Municipal Code Section 12.07.1, except where conditions herein may vary.
b. The proposed development shall be limited to a maximum of 13 residential
condominium units on Lot NO.3. The project shall comply with the provisions of the
RD6-1 Zone, pursuant to Los Angeles Municipal Code Section 12.09.1, except
where conditions herein may vary.
1. Zone Change
• APCNV 2005-1296-ZC-ZAA-F
• ORDINANCE NO. 178047
• EXTENSION OF TIME: October 31, 2020
2. Approved Tentative Tract Map
• Tentative Tract No. 60855
• EXTENSION OF TIME: October 31, 2020
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Project Facet Current Status
B-Permit In plan-check
Grading Permit
Final BOE approval; we still need to pull bond, get
soils engineer stamp, and get approval from
grading for method to do 10’ over ex adjacent to
the PL.
Building Plans In plan check
Final Map
In plan check. Seller is managing finalization of
final remaining conditions. Property may be
delivered at a juncture of conditional fulfilment
acceptable to Buyer/Seller upon agreement.
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B-Permit Cost Est.Bid to complete all street improvement work provided by Joe Engineering
Vanport Ave.$20,235
Wheeler Ave.$24,049
Fenton Ave.$33,813
Total Bid to Complete B-Permit Work: $78,097
Includes 15% Contingency
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The Product:Detached condo units 1-13 are either Plan A or Plan A ALT. These homes are
approx. 35’ wide X 44’ deep and are detached by 30’. The condominium
component of the project sits on 1.71 acres of the total 2.17 acre site. Hence, the
pads average well over 5,000 SF including streets. Each home will have a rear
yard. Market study data is contained in the “Situation” segment of this brochure.
Anticipated Value $650,000
Approx. $305/FT.
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The Product:Detached condo units 1-13 are either Plan A or Plan A ALT. These homes are
approx. 35’ wide X 44’ deep and are detached by 30’. The condominium
component of the project sits on 1.71 acres of the total 2.17 acre site. Hence, the
pads average well over 5,000 SF including streets. Each home will have a rear
yard. Market study data is contained in the “Situation” segment of this brochure.
Plan A [13 Detached Condo]
2,138 SF livable
4 Bed / 3 Bath
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The Product:The two SFR homes are Plan B. Each of the SFR’s will be on an oversized 7,538 SF
single family lot. Market study data is contained in the “Situation” segment of this
brochure.
Anticipated Value $820,000
Approx. $250/FT.
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Plan B [2 Detached SFR]
3,284 SF livable
5 Bed + Loft / 4 Bath
The Product:The two SFR homes are Plan B. Each of the SFR’s will be on an oversized 7,538 SF
single family lot. Market study data is contained in the “Situation” segment of this
brochure.
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B-Permit Cost Estimate:Bid to complete all street improvement work provided by Joe Engineering
Vanport Ave.$20,235
Wheeler Ave.$24,049
Fenton Ave.$33,813
Total Bid to Complete B-Permit Work: $78,097
Includes 15% Contingency. Bid contained in full DD.
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Cut-Fill Diagram:Contained within grading plans.
Net Cut-Fill: 831 C.Y. Fill
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Due Diligence Inventory:
1. Architectural and Engineering Plans
2. B-Permit Folder
3. Civil Plans
4. Final Map Folder [Plan Check Comments,
5. Geo Folder [Soils Report, Soils Approval Letter]
6. Methane Study
7. Plan Check Comments Folder
8. Planning Approvals Folder [TTM, ZC, Extension Letters for Entitlements]
9. Survey Folder
10. Utilities Folder
11. Prelim
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Lake View Terrace:One of the few (if not only) areas of the City of Los Angeles where accessibly
priced new tract housing product is being built. This section will review the
current for sale housing developments underway within the immediate
submarket as well as some of the other locational amenities making Lake View
Terrace a great place to build new homes.
*Eldridge Street - around the corner from subject site. Picture taken 4/1/19
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Lake View Terrace:Lake View Terrace is the higher-end more picturesque neighbor to Sylmar. Lake
View Terrace maintains exceptional accessibility to the rest of Los Angeles due to
its immediate proximity to virtually all northerly Los Angeles Freeways including the
210, 118, 5, 405, and 170.
*Fenton 15 is located within the official Lake View Terrace boundaries as shown above.
Lake View Terrace
Sylmar
Burbank
Glendale
Pasadena
La Crescenta
NoHo
Studio City
Sherman
Oaks
Van Nuys
Granada Hills
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Lake View Terrace:Lake View Terrace is the higher-end more picturesque neighbor to Sylmar.
maintains exceptional accessibility to the rest of Los Angeles due to its immediate
proximity to virtually all northerly Los Angeles Freeways including the 210, 118, 5,
405, and 170.
*Fenton 15 is located within the official Lake View Terrace boundaries.
Lake View Terrace
Sylmar
Burbank
Glendale
Pasadena
La Crescenta
No Ho
Studio City
Sherman
Oaks
Van Nuys
Granada Hills
* Picture taken 4/1/19 within a newer subdivision in Sylmar built by Richmond American in 2012.
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1 Mile
0.75 Miles
The Hansen Dam Recreation Center and Park are located here, with extensive day use facilities operated by the City ofLos Angeles Department of Recreation and Parks. Most facilities are accessed from Highways 5 and/or 210.
Recreation Center and Park features a moderate size lake which is filled with circulated drinking water and offers fishingand public boating. The lake is open year-round, including holidays, but may be closed during times of severe weather orfor planned events. Also at the site is located a smaller swim lake which features water that is filtered and chlorinated andhas a capacity of 2,800 swimmers.
The City of Los Angeles Department of Recreation and Parks provides lifeguards who service to the three lakes within theflood control basin.
The recreation center and park areas also have: picnic tables and barbecue pits, children's play areas; and baseballdiamonds and soccer fields.
The park features equestrian and walking trails, that link to those exploring the nearby Angeles National Forest and a
walking pathway along the dam's top. The basin is a resource of large open space for the Los
Angeles region. A large portion of the area remains undeveloped in an effort to
conserve natural habitats and maintain the diverse animal and plant species.
Hansen Dam Recreation Center
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1. Sagecrest – 70 Detached Single Family Dwellings
2. Los Angeles Pointe – 39 detached 2 story condominiums
3. Cielo – 24 detached 2 story condominiums
4. Tovara - 204 attached 3 story townhome condominiums
5. Autry – 33 detached 2 story condominiums
6. Entrada - 22 detached 2 story SLO
7. Palmilla - 12 detached 1 & 2 Story Single Family Homes
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2
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5
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Fenton 1511761 Fenton Ave.
Lake View Terrace, CA 91342
▪ 0 feet from Fenton 15.
▪ 2 detached 2-story SFR and 13 detached 2 story condominiums. Land for sale.
▪ Lots range 5,696 – 7,538 SF including streets.
▪ Homes Range: 2,138 – 3,284 SF
▪ Base Pricing: $640,000 - $820,000 / HOA: TBD
▪ Land Purchase: $2,595,000 [$173,000/lot]
F15
Subject Opportunity
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Sagecrest11644 N. Amsterdam Lane
Lake View Terrace, CA 91342
▪ 2,500 FT. from Fenton 15.
▪ 70 detached 2-story condominiums. Under Construction/Units For Sale.
▪ Lots range 3,600 – 5,000 SF including streets.
▪ Homes Range: 1,657-2,275 SF
▪ Base Pricing: $561,990 - $645,990 / HOA $110/MO.
▪ Land Purchase: $12,834,000 [$183,342/lot on 1/5/2018]
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Los Angeles Pointe11847 Terra Vista Way
Sylmar, CA 91342 [Not in the official Lake View Terrace boundary]
▪ 1,025 FT. from Fenton 15.
▪ 39 detached 2-story condominiums. Site is under construction.
▪ Lots Range
▪ Homes Range: 1,800 – 2,900 SF / HOA TBD
▪ Base Pricing: TBD
▪ Land Purchase: ?
2
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Cielo12860 Vaughn St.
Sylmar, CA 91342
▪ 1 Mile from Fenton 15.
▪ 24 detached 2-story condominiums. Sold Out.
▪ Lots approx. 3,000 SF including streets
▪ Homes Range: Approx. 1,690 SF
▪ Base Price: Approx. $527,000 / HOA: $113/MO.
▪ Land Purchase: $2,400,000 [$100,000/Lot Circa 2017]
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* Evanisko brokered the Cielo land sale.
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Tovara13275 Foothill Blvd.
Sylmar, CA 91342
▪ 3.56 Miles from Fenton 15.
▪ 204 attached townhome condominium. All phases open. Units selling.
▪ Pads average approx. 2,000 SF including streets.
▪ Homes Range: 1,285 – 1,863 SF
▪ Base Price: $427,900 – $511,900 / HOA
▪ Land Purchase: $12,000,000 circa late 2016
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* Evanisko brokered the Tovara land sale.
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Autry13263 Wheeler Ave.
Sylmar, CA 91342
▪ 2.56 Miles from Fenton 15.
▪ 33 detached 2-story condominium. Site is under construction.
▪ Lots average 3,160 SF including streets.
▪ Homes Range: 1,507-2,126 SF
▪ Base Price / HOA: TBD
▪ Land Purchase: ?
5
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Entrada13245 Hubbard Street
Sylmar, CA 91342
▪ 2.7 Miles from Fenton 15.
▪ 22 detached 2-story small lot homes. Under Construction/Units For Sale.
▪ Lots average 3,160 SF including streets.
▪ Homes Range: 1,581 – 1,665 SF
▪ Base Pricing: $528,900 - $532,900 / HOA $171/MO.
▪ Land Purchase: $2,300,000 [$104,545/lot on 6/23/17]
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Palmilla13701 Wheeler Ave.
Sylmar, CA 91342
▪ 3.56 Miles from Fenton 15.
▪ 12 detached 2-story SFR. Nearly sold out.
▪ Lots average 12,000 SF including streets.
▪ Homes Range: 2,548 - 3,319 SF
▪ Base Price: $799,900 – $850,900 / HOA: None
▪ Land Purchase: ?
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Richmond American12101 Van Nuys Blvd.
Sylmar, CA [Just outside of official Lake View Terrace boundary]
▪ 800 feet from Fenton 15.
▪ 47 detached 2-story condominium. Built 2007.
▪ Homes Range: 2,349 – 2,515 SF each.
▪ Resales over past three years average $600,000 [only six total transactions]
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Los Angeles Pointe39 Detached Condo –Under Const.
2
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or
implied, as to the accuracy of the information. References to square footage or age are approximate. Any elevation or rendering is
provided for reference purposes only. A buyer must verify the information and bears all risk for any inaccuracies. All materials and
information received or derived from the Listing Brokers, their directors, officers, agents, advisors, affiliates and/or any third-party
sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the Property,
compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the
Property, projected financial performance of the Property for any party’s intended use or any and all other matters. Neither Listing
Broker nor their respective directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied,
as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any
source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due
diligence to determine these and other matters of significance to such party. The Listing Brokers will not investigate or verify any such
matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN
INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or in escrow for a transaction is urged to verify all
information and to conduct its own inspections and investigations including through appropriate third party independent professionals
selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and
reports and consulting appropriate independent professionals. The Listing Brokers shall not serve as financial advisors to any party
regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial
modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be
provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any
applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to
determine rents or potential rents from or for the Property. Legal questions should be referred to an attorney. Tax questions should be
discussed with a certified public accountant or tax attorney. Title questions should be referred to a title officer or real estate and/or
land-use counsel. Questions regarding the condition of the property and whether the property complies with applicable governmental
requirements should be discussed with appropriate engineers, architects, contractors, other consultants and/or governmental
agencies.
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Please return this signed Confidentiality Agreement for access to the Due Diligence Package
contents listed on the Due Diligence inventory list contained within this brochure.
The undersigned has been advised that Evanisko Realty & Investment, Inc. (the “Broker”) has
been retained on an exclusive basis by the property owners (“Owner”) with respect to the
offering for sale of an entitled development site in Los Angeles, CA (the “Property”). The Owner
has indicated that all inquiries and communications with respect to the contemplated
investment in and acquisition of the Property be directed to the Broker. The undersigned is a
principal in connection with the possible acquisition of the Property.
The Broker has available, for your review, certain information (“Confidential Information”)
concerning the potential acquisition of the Property. On behalf of the Owner, Broker shall make
such Confidential Information available to the undersigned upon execution of this Confidentiality
Agreement. The Confidential Information is intended solely for your own limited use in
considering whether to pursue the acquisition of the Property. This is not an agreement to sell the
Property or an offer of sale. No agreement shall be binding upon the Owner, or any of its
associated or affiliated companies, nor shall any agreement be deemed to exist, at law or
equity, until the Owner of the Property enters into a formal and final binding written agreement
regarding the acquisition of the Property.
By executing this Confidentiality Agreement you agree that the Confidential Information
provided is confidential, that you will hold and treat it in the strictest confidence, and that you will
not disclose or permit anyone else to disclose the Confidential Information to any person, firm or
entity without prior written authorization of the Owner and the Broker, except in connection with
the evaluation of the Property that the information may be disclosed to your partners,
employees, legal counsel and lenders or pursuant to a court order. Additionally you agree to
not to disclose your receipt of the Confidential Information, your interest in purchasing the
property and/or the terms or conditions of any offer(s) you make to purchase the Property, or
take any other action that could adversely effect the potential development of the Property.
Owner expressly reserves the right, in its sole discretion, to reject ay or all proposals or expressions
of interest in the Property and to terminate discussions with any party at any time with or without
notice.
Accepted and Agreed [Date] ______________________ Signature _________________________
Name [Print] ___________________________________ Company ________________________
Address ____________________________ City __________ State _________ Zip __________
Phone ________________ Office _________________ Email ____________________________
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Exclusive Listing Broker:
Evanisko Realty & Investment, Inc.BRE 01383591Frank Evanisko(818) 985-9700
www.TheDevelopmentBrokers.com
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Inglewood DevelopmentInglewood Zoning MapRTI EntitlementsEntitled LandShovel ReadyRTIPermit ReadyOpportunity ZoneTransit OrientedTOCBy Right DevelopmentInfill DevelopmentDevelopers DreamConstruction CostsConstructionDeveloperEquityOpportunity FundZoning ConsultantSubdivisionMaster PlanMultifamily Multifamily DevelopmentBuilderPodium DevelopmentMixed UseType V ConstructionR3 LandRD1.5 LandNew Land ListingOff MarketOff Market LandLand AdvisorsHoffman LandCBREDario SvidlerUrbanize LACurbed LABisnowPCBCLand SpecialistConstruction LenderAffordable HousingTax Credit DevelopmentLand Entitlements
Since its inception in 2003, Evanisko Realty & Investment,Inc. has pursued the mastery of a uniquely balancedimplementation of commercial real estate brokerage andstrategic advisory services. The ability to play a concurrenttransactional and consultative role has established
Evanisko as one of the most visionary strategic partners forstakeholders in transactions involving real estate slated forall forms of redevelopment in the Southern Californiamarketplace. Evanisko’s closed transactional resume spansdozens of Southern California zoning jurisdictions, projectuses, and sizes with a special focus on exclusive landownerrepresentation in the marketing and sale of real estateslated for various forms of housing product types.