ENTERPRISE ZONE PROPERTY · 2018-12-01 · ENTERPRISE ZONE PROPERTY 13,500 SQUARE FEET LOT 7068...
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ENTERPRISE ZONE PROPERTY 13,500 SQUARE FEET LOT 7068 Lexington Avenue, West Hollywood, CA 90038 Harut Harry Yedalyan President BRE # 01318894 Co. NMLS #386499 (818) 339-4548 Direct (818) 997-3755 Fax Haili Michaels BRE # 01377389 (760) 315-2565 Direct (888) 985-4441 Fax [email protected]
Transcript of ENTERPRISE ZONE PROPERTY · 2018-12-01 · ENTERPRISE ZONE PROPERTY 13,500 SQUARE FEET LOT 7068...
ENTERPRISE ZONE PROPERTY 13,500 SQUARE FEET LOT
7068 Lexington Avenue, West Hollywood, CA 90038
Harut Harry Yedalyan President BRE # 01318894 Co. NMLS #386499 (818) 339-4548 Direct (818) 997-3755 Fax
Haili Michaels BRE # 01377389 (760) 315-2565 Direct (888) 985-4441 Fax [email protected]
OVERVIEW Development Land for Sale in Hollywood
7068 Lexington, West Hollywood
• Zoning WHCA2, • Total Buildable is Approx 55,000 sq.ft. • Per unit Market rate approx. 200K • Total FAR 4.05 ( may be additional) • Property fronts Lexington & La Brea • Tier 3 & meets TOC Program
Guidelines
PLEASE CONTACT FOR PRICING
Prime location on 7068 Lexington Ave. this 13,505 sq. ft. lot has significant frontage on La Brea Ave. offering ideal placement for multiple flexible and creative uses. With WDCA2 zoning the property is in the sought after Enterprise zone which presents the massive upside in tax advantages and incentives for future user. Lexington and La Brea have become a significant bustling corner averaging 40,000 daily traffic count. La Brea has slowly been transforming into a pedestrian-friendly street with the latest large residential spaces, work/live developments, new businesses, and more pending developments and projects. Property is a favorable Tier 3 which meets the TOC Program guideline. Affordable Hous-ing Incentive Program. As a result of the potential of 7068 Lexing-ton, the exit value is estimated to be between $25 to 30 million. The total Density (FAR) is estimated to be 4.05 which allows up to 8 stories. The immediate area has much to offer in the way of con-venience whether walking or driving around from retail shops along Melrose, the mall, farmers market, restaurants, bars, medi-cal offices, pet care, nearby attractions to any local hot spots and more revitalization coming. La Brea and the immediate area is taking shape nicely with “Smart Growth”.
DEMOGRAPHICS REPORT 7068 Lexington Avenue, West Hollywood, CA 90038
TOTAL POPULATION 36,973
Population in Households 36,861
Population in Families 11,820
Population in Group Qrtrs 112
Population Density2 19,589
Diversity Index3 47
INCOME
Median Household Income $67,334
Average Household Income $102,259
Per Capita Income $66,150
GROWTH RATE / YEAR 2010-2018 2018-2023
Population 0.88% 0.69%
Households 0.72% 0.55%
Families 1.02% 0.82%
4.43%
4.24%
HOUSING Total Housing Units 25,424 (100%)
Owner Occupied HU 4,768 (18.8%)
Renter Occupied HU 19,125 (75.2%)
Vacant Housing Units 1,531 ( 6.0%)
Median Home Value $829,319
Average Home Value $960,591
HOUSEHOLDS
Total Households 23,893
Average Household Size 1.54
Family Households 4,724
Average Family Size 3
TRAFFIC REPORT 7068 Lexington Avenue, West Hollywood, CA 90038
As Per zimas.lacity.org LADOT Traffic Count
Traffic Data: Approximately 40,000 cars travel East and West
within a 24 hour period.
PUBLIC TRANSPORTATION 7068 Lexington Avenue, West Hollywood, CA 90038
Commuter Rail Glendale Commuter Rail (Ventura County, Antelope Valley Lines) Union Station Commuter Rail (Ventura County, Antelope Valley, San Bernardino, Riverside, Orange County, 91 Lines) Airport Bob Hope Airport Los Angeles International Airport Long Beach-Daugherty Field Airport
Drive Distance
20 Mins 7.2 mi
16 Mins 7.6 mi
Drive Distance
23 Mins 9.7 mi
30 Mins 20.2 mi
38 Mins 30.9 mi
Map of 7068 Lexington Avenue, West Hollywood, CA 90038
