7306 Independence Ave Canoga Park, CA 91303...7306 INDEPENDENCE 1 | PROPERTY INFORMATION PROPERTY...
Transcript of 7306 Independence Ave Canoga Park, CA 91303...7306 INDEPENDENCE 1 | PROPERTY INFORMATION PROPERTY...
KW COMMERCIAL
16820 Ventura Blvd
Encino, CA 91436
PRESENTED BY:
Multifamily Investment Specialist818.915.9118 [email protected] BRE #00778825
ANIE MAYELIAN
7306 Independence Ave Canoga Park, CA 91303 Presented By: Anie Mayelian
www.mayeliangroup.com 2
KW COMMERCIAL
16820 Ventura Blvd
Encino, CA 91436
Confidentiality & Disclaimer
ANIE MAYELIANMultifamily Investment Specialist0 [email protected] #00778825
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third partysources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance orlack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projectedfinancial performance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as toaccuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whetherwritten 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 theseand other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for aparty unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspectionsand investigations including through appropriate third party independent professionals selected by such party. All financial data should beverified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financialdata or assumptions. KW Commercial does not serve as a financial advisor 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 orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by theparty with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complieswith applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by Mayelian Group in compliance with all applicable fairhousing and equal opportunity laws.
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty orrepresentation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, orwithdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance ofthe property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
OFFERING MEMORANDUM
PRESENTED BY:
CANOGA PARK, CA
www.mayeliangroup.com 3
PROPERTY INFORMATION
1 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
1PROPERTY INFORMATION7306 INDEPENDENCE
OFFERING MEMORANDUM
Executive Summary
7306 INDEPENDENCE 1 | PROPERTY INFORMATION
PROPERTY FEATURES
KW Commercial is pleased to present a shovel readydevelopment project that is fully RTI.
The fully entitled project provides a developer anopportunity to start construction immediately.
The development opportunity consists of a 3-storymultifamily dwelling with a unit mix of twelve 1Bedroom + 1 Bath Units. 1 unit dedicated for lowincome.
The project is not subject to the Linkage or MeasureJJJ fees, resulting in saving a large amount on theconstruction fees.
Excellent location near the Westfield Topanga, TheVillage, and The New Warner Center Promenademall, a mega redevelopment project that will feature1,400 rental units, new shops and restaurants, 572hotel rooms, and an entertainment venue.
SALE PRICE: $1,050,000
UNITS: 12
PRICE PER UNIT: $87,500
LOT SIZE: 6,384 SF
PROPERTY TYPE Multi-Family Development
APN: 2112-016-002
ZONING: LAR3
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not the actual rendering of subject property
LOCATION INFORMATION
2 | LOCATION INFORMATION
RETAILER MAP
REGIONAL MAP
LOCATION MAPS
AERIAL MAP
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OFFERING MEMORANDUM
USC VillageUSC
Natural History Museum of LA County
Westfield Topanga Mall and The Village
21031 Warner Center Lane Development
Developer Westfield is planning a major overhaul of the old Promenade mall site that would bring 1,400 rental units, new shops and restaurants, 572 hotel rooms, and an entertainment venue.
A planned 24-acre complex in Warner Center could bring around 1,000 apartments and condos, a 24-story building, and a trio of 15-story office
buildings to a site near De Soto and Burbank aves.
Not far from the Orange Line’s Canoga Station, developers Evolution Strategic Partners have plans for a residential
project rising seven stories tall.
6606 Variel Ave Development
Westfield’s Makeover of Warner Center Development
Retailer Map
7306 INDEPENDENCE 2 | LOCATION INFORMATION
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7306 Independence
Regional Map
7306 INDEPENDENCE 2 | LOCATION INFORMATION
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Each Office Independently Owned and Operated mayeliangroup.com 10
Location Maps
7306 INDEPENDENCE 2 | LOCATION INFORMATION
Aerial Map
7306 INDEPENDENCE 2 | LOCATION INFORMATION
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DEMOGRAPHICS
3 | DEMOGRAPHICS
DEMOGRAPHICS MAP
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OFFERING MEMORANDUM
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* Demographic data derived from 2010 US Census
Demographics Map
7306 INDEPENDENCE 3 | DEMOGRAPHICS
ETHNICITY 1 MILE 2 MILES 3 MILES
% HISPANIC 66.2% 55.5% 54.2%
RACE 1 MILE 2 MILES 3 MILES
% WHITE 39.8% 48.1% 47.9%
% BLACK 3.9% 4.3% 4.3%
% ASIAN 7.3% 8.1% 8.8%
% HAWAIIAN 0.2% 0.2% 0.2%
% INDIAN 0.7% 0.5% 0.5%
% OTHER 45.1% 36.3% 34.6%
POPULATION 1 MILE 2 MILES 3 MILES
TOTAL POPULATION 50,266 157,284 321,481
MEDIAN AGE 31.8 32.7 32.6
MEDIAN AGE (MALE) 31.1 31.7 31.6
MEDIAN AGE (FEMALE) 32.8 33.7 33.7
HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES
TOTAL HOUSEHOLDS 15,815 53,650 109,044
# OF PERSONS PER HH 3.2 2.9 2.9
AVERAGE HH INCOME $49,294 $59,453 $64,240
AVERAGE HOUSE VALUE $451,001 $550,984 $558,019