EXCLUSIVE HOLLYWOOD & HIGHLAND...

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EXCLUSIVE HOLLYWOOD & HIGHLAND OPPORTUNITY 6753 SELMA AVE, LOS ANGELES CA 90028 Offering Price: $3, 450,000 Jonathan Prakash Executive Managing Director, Partner 310.301.2351 | [email protected] CalBRE: #01483131 In Association with KW Commercial www.6753Selma.com Adrian Stepien Senior Investment Associate 310.301.2352 | [email protected] CalBRE: #01979555 Derrick Vartanian Executive Managing Director, Partner 310.301.2353 | [email protected] CalBRE: #01816119

Transcript of EXCLUSIVE HOLLYWOOD & HIGHLAND...

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EXCLUSIVE HOLLYWOOD & HIGHLAND OPPORTUNITY 6753 SELMA AVE, LOS ANGELES CA 90028Offering Price: $3,450,000

Jonathan PrakashExecutive Managing Director, Partner

310.301.2351 | [email protected]

CalBRE: #01483131In Association with KW Commercial

www.6753Selma.com

Adrian StepienSenior Investment Associate

310.301.2352 | [email protected]

CalBRE: #01979555

Derrick VartanianExecutive Managing Director, Partner

310.301.2353 | [email protected]

CalBRE: #01816119

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6753 Selma Ave, Los Angeles CA 90028 2

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MVP Commercial 3

TABLE OF CONTENTS

1. EXECUTIVE SUMMARY

THE OFFERING

ASSET CONVERSION PLAY - INVESTMENT STRATEGY #1

C4 ZONING USES

MULTI-FAMILY APARTMENT OFFERING -

INVESTMENT STRATEGY #2

DEVELOPMENT PLAY - INVESTMENT STRATEGY #3

2. THE PROPERTY

PARCEL MAP

3. MARKET OVERVIEW

SUBMARKET / HOLLYWOOD ENTERTAINMENT

CITY OF LOS ANGELES

GEOGRAPHY

NOTABLE LANDMARKS

HOLLYWOOD RETAIL CENTER / GREATER LA AREA

DEMOGRAPHICS & MAJOR EMPLOYERS

RETAIL CENTERS

COLLEGES & UNIVERSITIES

HEALTH CARE CENTERS

PARKS AND RECREATION

OFFERING MEMORANDUM

6753 Selma Ave, Los Angeles CA 90028

In Association with KW Commercial

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6753 Selma Ave, Los Angeles CA 90028 4

SUBJECT PROPERTY

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MVP Commercial 5

6753 SELMA AVE, LOS ANGELES CA 90028

SUBJECT PROPERTY

Selma Ave

Highland A

ve

Hollywood Blvd

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6753 Selma Ave, Los Angeles CA 90028 6

EXECUTIVE SUMMARY

Investment Strategy #1 - Asset Conversion PlayThe Selma Apartments offer a special opportunity for an investor to reposition

the asset and convert it into an assortment of uses. The property is zoned C-4,

allowing it to be converted into a number of possibilities, including but not limited

to: office, medical and retail space as well as hospitality, to name a few (buyer

to verify). The centric and iconic location of the property makes this investment

a prodigious opportunity to repurpose the structure into ones dream business.

Investment Strategy #2 - Multi-Family Apartment PlayThe property, 6753 Selma Ave, will be delivered fully vacant. The vacancy

allows for a unique opportunity for an investor to renovate and rebrand the

property and bring all units to market rent. With ample gated parking and

a laundry room on-site, a strategic investor has the ability to renovate the

spacious units in a high rental demand area and enjoy a property that is

running at its maximum potential.

Investment Strategy #3 - Development PlayZoned C-4, The Selma Apartments offer a rare and promising development

opportunity. With 6,254 SF of buildable space, an investor can develop their

dream project in a location with an immense amount of car and pedestrian traffic.

The current vacancy allows for an investor to eliminate relocation costs of

tenants, and the C-4 zoning allows for a developer to build up to 15 units

by right, and potentially more with low-income housing density bonuses. In

addition to a multifamily development, the C-4 zoning allows for a variety of

different development ideas, making 6753 Selma Avenue a unique opportunity

in the famed area of Hollywood and Highland.

THE OFFERINGSUBJECT PROPERTY: 6753 Selma Ave, Los Angeles CA 90028

MVP Commercial Investment Real Estate is pleased to present The Selma

Apartments. We believe the unique circumstances of the offering allow for three

distinct investment strategies. See our proposed recommendations below.

LOCATION HIGHLIGHTS

• High Rental Demand Area - Dense Traffic and Active Tourist Area (25

Million Visitors Annually & 175,000 Cars at Hollywood & Highland Daily)

• Famed Hollywood Location - Iconic Landmarks, Renowned Attractions,

Upscale Retail Locations, and Restaurants Nearby

• High End Commercial Retail and Multifamily Project Being Constructed

Next Door – 200+ Units & Retail Stores

• Boasts A Walk Score Of 97!

INVESTMENT HIGHLIGHTS

• DELIVERED FULLY VACANT• Zoned C-4 | Develop 15 Units (By Right)

• Ample Gated Parking

• Incredible Value-Add Opportunity

• Prime Hollywood Location | Hollywood & Highland Adjacent

• Separately Metered for Gas & Electric

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MVP Commercial 7

EXECUTIVE SUMMARY

Asset Conversion Play - Investment Strategy #1

The Selma Apartments offer a special opportunity for an investor to reposition

the asset and convert it into a variety of uses. This opportunity, zoned LAC4,

allows for immense development potential on a 6,254 square foot lot.

This property provides a rare opportunity for investors to acquire an asset in a

phenomenal location with endless conversion possibilities. Given the current

growth in demand for housing and tourism in the affluent Hollywood market,

this opportunity appeals to renters, shoppers, and tourists alike.

With a proper conversion and rebranding plan, an investor can take advantage

of the highly trafficked location and convert the existing structure into a business

of their choosing (buyer to verify).

The subject property is uniquely positioned amongst Hollywood’s most iconic

attractions, from the TLC Chinese Theater, the Hollywood Bowl, and the Hollywood

Walk of Fame, this lot offers the developer the opportunity to construct the

next iconic building in an established, yet developing market.

Why Invest in The Selma Apartments?

Hollywood and Highland, one of the most well recognized intersections in Southern California, is at

the hub of Los Angeles’ entertainment. Featuring 640,000 square feet of retail shops, restaurants,

and nightclubs, it is a landmark within the entertainment capital of the world. With an unparalleled

number of visitors and tourists gathering daily, 6753 Selma Ave. offers a unique opportunity for the

next investor to fulfill their dream development.

In addition to some of the best shopping Los Angeles has to offer, the city of Hollywood has seen

a tremendous amount of growth and development in recent years. Boasting a robust population

of over 871,000 people within 5 miles of the subject property, Hollywood is also expected to have

devoted $3 Billion dollars in future development projects.

From being home to famed brand name retailers to hosting Hollywood’s hottest nightlife, the

prestige of the intersection, Hollywood and Highland, ensures that demand in the area will stay high

for both housing and retail. Once in Hollywood, one may enjoy a performance at the Hollywood

Bowl, or choose from the many movies screened daily at the state of the art TCL Chinese Theater.

In addition, Hollywood and Highland hosts over 300 special events each year, attracting famous

celebrities and highly regarded personnel alike. The Dolby Theater, mere steps away from The Selma

Apartments, is home to the Oscars and special events such as American Idol, ESPY Awards, and

Jimmy Kimmel Live as well as music performances from the most popular artists in the industry.

Furthermore, Hollywood is considered the #1 tourist attraction in Los Angeles. With the Hollywood

sign in plain view of the subject property, and the renowned Walk of Fame a block away, it truly

makes this investment one of a kind. To further contribute to the appeal of the location, it is reported

that visitors stay an average of 5.5 nights and spend $4,455 per person while visiting Hollywood.

Likewise, visitors to Los Angeles, who spent $16.5 billion in 2012, spend 29% more on average in the

city of Hollywood, making this an incredible opportunity for an astute investor.

It is reported that Hollywood hit 96.2 percent of its residential capacity in the beginning of

December, rising from the previously reported 95 percent in 2015. With fewer vacancies in sight,

rents in the Hollywood area have been climbing. The average Hollywood rent rose nearly 14 percent

in November 2016. With these statistics in mind, an investor would be wise to take advantage of the

increased demand for housing and business spaces in the area.

Regardless of whether one is looking for a multi-family investment opportunity in one of the world’s

most well recognized locations, or an opportunity to develop the next iconic attraction, it is hard to

pass on a gem of this kind in a location that has proven to withstand the test of time.

Source: http://hollywoodandhighland.com/downloads/HH-Leasing-Brochure-Med.pdf

Source: https://therealdeal.com/la/issues_articles/a-multifamily-boom-is-born/

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6753 Selma Ave, Los Angeles CA 90028 8

Business• Antique Shop

• Architect’s Office

• Automobile Parking

• Automobile Sales

• Bakery

• Barber Shop

• Beauty Shop

• Bicycle Sales

• Blueprinting

• Café

• Candy Store

• Car Rental

• Clothing Store

• Furniture Store

• Hotel

• Jewelry Store

• Laundromat

• Lodge

• Manufacturing Facility

EXECUTIVE SUMMARY

C4 ZONING USES

Medical• Acupuncturist’s Office

• Clinic

• Cosmetological Establishment

• Counseling Facility

• Dental Clinic

• Doctors Office

• Massage Parlor

• Optician

• Pharmacy

Entertainment• Advertising Studio

• Animated Cartoon Studio

• Aquarium

• Art Gallery

• Book Store

• Broadcasting Studio

• Club

• Film Studio

• Gift Shop

• Museum

• Music Store

• Music Studio

• Production Studio

• Recording Studio

• Theater

• Veterinary Clinic

Educational• Beauty College

• Dance Studio

• Drama School

• Childcare Facility

• Educational Institution

• Library

• Music School

• Private School

• Tutoring Center

Community• Affordable Housing

• Bank

• Charitable Institution

• Community Center

• Cultural Center

• Eldercare Facility

• Financial Institution

• Fitness/Wellness Center

• House Of Worship

• Orphanage

• Park/Playground

• Recreation Center

• Religious Association

• Shelter

• Wedding Chapel

• Motorycycle Sales

• Office

• Parking Building

• Pet Store

• Repair Shop

• Restaurant

• Retail Store

• Service Station

• Shared Office Space

• Spa

• Sporting Good Store

• Tanning Salon

• Travel Agency

• Yoga Studio

Source: Http://Planning.lacity.org/Documents/Oza/15-2348Combined.pdf

(Buyer to Verify)

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MVP Commercial 9

EXECUTIVE SUMMARY

Multi-Family Apartment Offering - Investment Strategy #2

MVP Commercial Investment Real Estate of KW Commercial is pleased to

present The Selma Apartments-an eleven (11) unit multifamily investment

opportunity located in prime Hollywood that will be delivered fully vacant. This

two story, wood frame stucco building consists of 5,288 SF of living area and is

situated on a 6,254 SF lot zoned LAC4.

Constructed in 1959, the property features: eleven (11) studio units. All units are

individually metered for both gas and electric. Further, the property provides

ten (10) gated parking spots for the tenants as well as washer and dryer hookups

for potential, additional income.

This is an incredible opportunity for an astute investor to purchase a vacant

building and bring all units to market rents. With a thorough renovation and

rebranding plan, a new owner will benefit from an investment property that is

running at its full potential in an amazing location. Some ideas include, but are

not limited to:

PRICING

Price $3,450,000

Number of Units 11

Cost per Legal Unit $313,636

Approximate Age 1959

Approximate Lot Size 0.14 Acres 6,254

Approximate Building Sqft 5,288

Cost per Net GSF $652.42

SCHEDULED INCOME

Total Scheduled Rent $18,700

Landry Income $110

Monthly Schedule Gross Income $18,810

Annual Scheduled Gross Income $225,720

Utilities Paid by Tenant Gas & Electric

ESTIMATED ANNUALIZED EXPENSES

*Taxes 1.25% $43,125

*Insurance $2,380

*Utilities $7,920

*Maintenance/Repair $12,415

*Trash $1,440

*Reserves 1.0% $2,257

*Estimated Expenses*

Total Expenses $69,537

Per Net Sqft $13.14

Per Unit $6,321.54

FINANCIAL SUMMARY

6753 Selma Ave, Los Angeles CA 90028APN: 5547-013-014

Exterior

New Gated Entry System

Attractive Paint Schemes

Large Windows

Fresh Paint on Doors/Fixtures

Wood Panel Walls

Attractive Window Shutters

Abundant Natural Light

Common Area

Clean Landscaping

LED Lit Walkways/Parking

Outdoor Patio Area

Security System

New Laundry Room

Interiors

Energy Efficient Recessed Lighting

Modern Appliances

Stainless Steel Fixtures

Modern Cabinetry

Hardwood Floors

Contemporary Decor

Updated Kitchen/Bathrooms

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6753 Selma Ave, Los Angeles CA 90028 10

EXECUTIVE SUMMARY

Development Play - Investment Strategy #3

MVP Commercial Investment Real Estate of KW Commercial is pleased to

present an exclusive development opportunity in the heart of Hollywood. With

6,254 SF of buildable space, an investor can develop their desired project in a

location with an immense amount of car and pedestrian traffic.

Currently an eleven (11) unit multifamily property constructed in 1959, the

property also features ten (10) parking spaces. This parcel presents a promising

opportunity for a developer to build, by right, 15 apartment or condo units in a

very dense rental pocket of Hollywood (buyer to verify).

Construction next door has already begun on a high rise development project

that will introduce retail stores below 248 luxury apartments. This construction

will allow for increased foot traffic on the street and further augment the

appeal of the location.

The zoning of this property allows for a variety of development possibilities. For

a list of potential uses, please see page 8 of the offering memorandum.

*Representative Photo

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MVP Commercial 11

THE PROPERTY

PARCEL MAP

M. FUJINAMI

JUNE 1991

CENTRAL INDEX MAP 147 F 185

4901

D. MAULEON

JULY 2016

I

PT

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PLOT AS OF: 4/26/2017

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148-5A185

CITY OF LOS ANGELES

REVISED:

DIMENSION SHOWN IN ( ) IS UNRECORDED

GARY LEE MOORE CITY ENGINEERBUREAU OF ENGINEERINGEDMOND YEW

GIS MAPPING DIV. DIVISION ENGINEER

LUIS MONTEMAYOR GIS CHIEF DATE:

GRAPHICS INPUT: CHECKED BY:

SCALE IN FEET

COPYRIGHT (C) 1992 CITY OF LOS ANGELESNO PART OF THIS MAP MAY BE REPRODUCED OR TRANSMITTED IN ANY FORMOR BY ANY MEANS, ELECTRONIC OR MECHANICAL, INCLUDING PHOTOCOPYINGAND RECORDING OR BY ANY INFORMATION STORAGE OR RETRIEVAL SYSTEM,EXCEPT AS EXPRESSLY PERMITTED IN WRITING BY THE CITY ENGINEER.

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(111)

HOLLYWOOD BONNIE (125.90)

15

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M B 1249-13/26

(50)

741.575

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C E 120-79

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225.99

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>

6.04

169.84

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C E 120-79

185.54

(50)

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(56.68)

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100

-> 8' & 6' ST DR EA

177.38

>

2

M R 53-97

M R 53-97

60

13

06606

3

2

178

OF RANCHO LA BREA

(77.61)

5

60

5062.80

31.50

M B 1-62

3

1

2

(15)

1

01737

01743

01715

(90)

01746

(185)

2

06617

06615

>3

>

(6.25)

1M B 1-62

33.17

1

FR

>

6' WTR EA 87-1424304140

01731

C E 22-228

>4

65 (91)

75

01710 1/2

75

M B 5-90

6006831 1/2

100

10

06825

> 2

7

(67)

(67)

>

LT NO 79

> C E 14-89

165.32

PROSPECT AVE

110.32

LT A

BRIER TRACT

(125.78)

(115.58)

(125.77)01657

01639

>

88-1532838

(50)

15

2

TR 52496

HOLLYWOOD OCEAN VIEW TRACT NO. 2

143

13515

21C E 120-79

>

MAP A-5677

>

>

MAP A-5677

(15)

01608

01536

0155201550

U01542

(120.72)

(130.71)

1

FR

17

FR

TR 10820

50

10

M B 5-153

16

21.20

24.87

24.87

>4

06758

7FR

(50)

01553

(42.1)

50

27

>

1.3557.09

1

06735

62.77

4606760

126.59

40

(148.27)

85.50

18

45

40.33

(38.06)

4650

06725

U01654

PT

U06709

06704

160

4

6230

PALM AVE ORD 25092

M B 3-84

1

13

06705

01625

180

80.62

180

06676

01638

01600

U06671

06681

161

160.85

06677

01585

168.61

45

77.70

06665

> 3

50

4

0157801580

169.20

06669

06660

60

C E 18-74

100

C E 120-79

C E 120-79

(150)

(36)

2

(14.12)

2

2

32

FR

7

58

06767 1/2

06760

122

7

>

"UNNUMBERED LT"

01727

140

50

PT 50

60

90

1

(62)

01730

1506682

FR

2

1

2

06667

137.30

9

MAP 1147

1

144

81.96

01623 1/2

60

C E 19-1

50

(45)

55

01638

06648 1/2

06639

06637

3

3030

FR

242.48

242.50

242.49

SCHOOL

06633

06636

90-102567

06636

>

2

06628

50

100

(47.61)

75

C E 20-71

59.33

58

+

C E 48-101

60135

01554

06605

48

1

06600

1

40

70.90

5606566

1

06563

68.66

170

58.50

C E 17-207

2

17

120

220

180

(90)

06640

01805

01727 1/2

55

117

185

06625

45

06611

FR

23

(185)

2

15

46.50

01729 1/2

40

10

EMMET AVE ORD 23082

(48)

01716

01738

01746 1/2

01728 1/2

01720 1/2

FR

69

60100

FR

50

(67)

9

M B 5-90

(179.32)

6

331.02

06817

HAWTHORN

282.439

55

79.32

2

FR

3

6

3560

U01645

(50)

FOR LTS 1-54 ATDIFFERENT ELEVATIONS,

14C E 120-79

18

M B 1-68

100

>

C E 120-79

(95)

01612

60

01618 1/2

(130.71)

(130.72)

FR

FR

22

HAWTHORNE AVE

(120.70)

55.03

95

> 1

8

06776

>

(0.27)

3

19

06757

>

C E 116-74

06757 1/2

(140)

53.27

01542

U01546

M B 5-122

65

49

13

10

4

3

2

148.27

AVE

06724

85.50

M B 5-153

01667

01601

5050

PL06729

5050

74

06714

SEC 10 T1S R14W

2

148.27

M B 5-122

250

06704

50

AVE

01641

01633

01635

138

53.5

LAS PALMAS

120

50

01610

01646

55

01630 1/2

168.03

2

4

55

2

01591

01575

180

55.60

50

HIGHLAND

1

FR

YUCCA

1

ROSE ST ORD 23082

06769 1/2

06768

100

1

4

3

2

100

PT

06755

(50)

>

2' STRIP RESERVED

50

01706

39.79

8

>

(0.21)

50140

90102

201707

6327

130

117

> (3)

01724

01728

01742

25

2

3

06678

>

(3)

180

3

2

13

10

174.87

01643

01653

01619

180.66

10100

0165601654

01646

PT

>

83-131530

01616 1-25

181.74

5

242.46

549.65 AR

45.26

50

1

>

2.9

18

205.90

143.51

M B 22-180

06617 1/2

9

06615 1/2

01553

U01541

6

70

C E 20-92

1550

274.22 AR

01550

2

01548 1/2

178

2

143.75

143.48

177.54

>

(2)

C E 21-469

50

>

(2.66)

58.50

45120

2

18

180

4

60

0180001802

01710

01720

06623

6

1

C E 17-207

06608

06609

24

22

185

06607

1

06603

01749

115

60

72

01714

01740

12

2

52.67

52.682 AR

(67)

06834

06820

75

179.32

ALLEY

06816

FR

FR

4 (125.70)

06806

0165501653

14

>

ORD 174543

60.02

01763

C E 120-79

16

HIGHLAND

C E 19-134

C E 19-134

13

9

>

15

(40)

14.08

01660

01540

1

U01620

U01606

01616 1/2

2

FR

FR

(112.50)

FR

FR

18

20

(29)

06777

06767

10

C E 116-

FR

06760

30.79

3

16

50

DWP

C E 116-73

4

06759

25

28

06772 1-12

01547

06752

FR

(140)

46

PL50

G. F. STEVENSON TRACT NO. 2

25

FR

74

16

12

06730

127.75

> C E 36-91

2

01611

4

46

01612

U01616

U01650

1

06721

PAT 1-289/290

148.27

06710

06706

50180

166.10

3

50

01645

01631

39.38

(157.23)

01608

41.20 80

90

3

161.03

> 2

01587

>

56

>

56.33

3

50.85

06671

06663

120

50

25

C E 120-79

3

01718

FR

01714

>

3

>

3

100

1

87

(36)

5006765 1/2

(50)

FR M R 59-96

3

01712

01704

01714 1-218

PT

>

2' STRIP RESERVED

5050

37

63

M B 1-62

(90.8)

2

4

181.60

90

(75)

01716

105

(180)

(180)

1

06672

06671

100

06658

SCHOOL

1

2

FR

01625

01641

>

(13.5)

50

01648

01642

01626 1/2

7

(244.93)

PAT 1-289/290SEC 10 T1S R14W

06638

141.57

92.5

91-495138

06627

10

2

4055

15

40

143.61

C E 19-1

1

15120

C E 201-93

06620 1/2

01555

5080

6006613

-

06609

48

>

(2)

1

01542

60

92.5

8

BLVD

46.50

C E 20-94

63

5006659

06657

06653

2

(180)

3

06647

01807

01745

(15)

58.50

50100

120

(75)

01700

7

4

1

06614

5006621 1/2

3

06602

01735

01709

(75)

117

C E 22-227

01708

01732

5

01726 1/2

>

> 2

06819

75

1

2

50

FR

(125.84)

45.01

01651

U01669

31.30

>

LT B

6

(341.42)

SEE M B 1258-1/34

184.93

135

1

1520

17C E 120-79

22

10

100

AVE

1211

U01610

FR

06776 B

16

19

06773

120.72

FR2

16.32

2

>

74

24.86

HAWTHORN

125

06763

06761

76.35

06759 1/2

06754

01549

01543

06769

50

FR

(50)

46

PL125

45ALLEY

06762

50

06733

06757

MC CADDEN

1 2

148.27

06728

06752

100

FR

06734

06739

50

40.33

01651

01665

01607

39.79

DAKOTA AVE ORD 25092

230

160

06710

U01600

74

06723

06702

M R 53-97

06717

RANCHO LA BREA

06708

39.38

LAS PALMAS

06701

01607

01647

01639

60

(73)

1

06675

2

(38.80)

91.8

90.99

3

1

2

55

01577

81.03

50179.05

42

A. E. WINSTANLEY TRACT

17.5

(83.45)

01750

4

(159)

06771 1/2

M R 84-91/92 2006759

5

(44.63)

01739

5

4

01721

50

149.98

40

06725

17

13

46

100

100

1

1

2

5

3

ESTELLE AVE ORD 25668 PALM AVE ORD 25092

220

50

01718

01714

8

06670

3

4

100

M B 1-35

2

1

+

175

06661 1/2

50180.15

50

06655

8

CHEROKEE

(175)

MAGENTA ST ORD 25417

-

06642

6

242.47

06635

5

80

121.45

SCHOOL

>

89-1890425 (2)

> 89-1890425 (1)

06619 1/2

19

21

06624 1/2

143.67

>

(6.25)

53.65

177.06

0154901547

C E 201-93

2

70.90

22

10

120

20.42

06612

SCHOOL

06610

06608

06604

100

3

143.61

J. O. CHIAPELLA TRACT

10

55

405.65 AR

06567

60100

(51)

2

1

1

1

01801

58.50

100

MAGENTA AVE ORD 25417 MAGNOLIA AVE ORD 25092

220

2

1

4

06622

8

1

06616

3

06612

06610

(92.5)

105

(72)

1

01722 1/2

1

60

60

35

16

LT 4

179.32

76

65.32

M B 5-90

2

>

1

HOLLYWOOD

1

AVE

U01675

(55.32)

C E 120-79

>

248.01

M B 1258-1/34

82.98

06801

01755

312 19

M R 55-6

C E 120-79

C E 120-79

10C E 120-79

¹(25)

01614

50

(43)

01600

FR

01604

(56.67)

(130.70)

FR

58

(122.5)

15

21

STEVENSON AVE

DAVIDSON TRACT

06768

06773

A25

58

06765

5

80

150

06762

20

06775

2

>

M B 187-25

06753 1-11

59.49

BONITA PL ORD 36755

50

M B 5-129

26

06767

>

06751

C E 19-1

62.77

06736

19

17

1

06751

95

M B 5-153

16

01659

06718

06731 1/2 3/4

06714

U01664

1

G. F. STEVENSON TRACT

06719

M R 53-97

06715

06700

06711

138

C E 19-1

2

50 ESTELLE AVE ORD 25668

100

(158)

26.55

90

5055.725

01648

U01634

06672

2

EULALIE TRACT NO 2

53.5

01573

0159501597

1

50.80

01588

112.60

50

BLK A

1

(75)

6

8

(159)

06778

150

6

01735

PT

PL (510)

>

5' & VAR FUT ST 20081237950

9

>18

>

"UNNUMBERED LT"

5027

(90.8)

50220

(85)

01738

01712 1/2

1

45

06674 1/2

120

1

1

14

12

122.07

90

01645

40100

84

AVE

100

01652

01614

06647

06646 1/2 121

180

3

>

(1.45)

2

70

06630 A-D

121.46

06623 1/2

2

RAWLINGS-LOUNSBERY

176.90

C E 20-146

54.22

5

68.610156101559

70

55

58

177.22

58

90

06614

01538

01546 1/2

12

06601

1

143.54

M B 22-180

C E 20-92

AVE

55

50

28.36

68.80

C E 44-80

C E 17-207

FR

19

105

06651

(75)

(85)

45

MAGENTA ST ORD 25417 MAGNOLIA AVE ORD 25092 EULALIE AVE

(85)

U01736

100

FR

FR

185

115

06618

2

06615

C E 17-207

1

21

185

(185)

06605

3

01723 1/2

06601

01711

01719

(85)

>

6

> 6

AVE

01752

12

(10) 20.02

01715

01730 1/2

PAT 1-289/290

06-0138363

06-0138363

06-0138363

06-0138363

06652

06656

06650

06654

06600

12

17.510

15

26

12

06745

30

30

16

06727 3/8 1/2 5/8 3/4 7/8

>

4' P U E O R 7856-111

>

(0.21)46

15

17.5

06747

10

6

102

15

01738

>20100889998

50

20

50

17.5

>2

(128)

15

100

14 ALLEY

(44)

(50)

(157)

(44)

17.510

>

2

>

20100889998

102

(157)

FR

01728

01744

(35)

20 14

5

> C E 19-163

C E 19-163

(50)

6

01743

01741

01731

01739

>

6

150

50

> 20120022693

20101420162

> VAR AIR SPACE EA

VAR FUT ALLEY

16.02

>AIRSPACE ST EA

60

>

20100889999

5055

50

5

55

5052

01540 1-6

01721 1-218

01737 1-82

75

16.03

16.03

14

5716

MCCADDEN

MCCADDEN

2030

55

06670

06600

06604

06606

60

06608

06602

>

VAR & 2' FUT ST EA 20141210055

U01603

01605 1-66

06735

06761

06755

06712

01640

10 10

80.02

60M B 1391-43/44

14.17

60

19.60

TR 66875-C

LAS PALMAS

60

01751 1-2460

06741 1/2

01710 01712

25

>

2' FUT ALLEY EA 20170300251

>

2' FUT ALLEY EA 20170300251, 20170330025,

& 20170330025

20170330026 & 20170330027

E. 4,185,000

N. 4,148,500N. 4,148,500

E. 4,185,000

E. 4,185,500

N. 4,149,000N. 4,149,000

E. 4,185,500

E. 4,186,000

N. 4,149,500N. 4,149,500

E. 4,186,000

E. 4,186,500

N. 4,150,000N. 4,150,000

E. 4,186,500

E. 4,187,000

E. 4,187,000

N. 1,858,655

E. 6,458,785

N. 1,859,155

E. 6,459,285

N. 1,859,655

E. 6,459,785

N. 1,860,155

E. 6,460,285

E. 6,460,785

N. 1,858,648

E. 6,458,790

N. 1,859,148

E. 6,459,290

N. 1,859,648

E. 6,459,790

N. 1,860,148

E. 6,460,290

E. 6,460,790

147A185

150A185

148-5A187

147B181

25 15010050

6753 Selma Ave is located South East of the

intersection of Hollywood Blvd and Highland Ave.

SUBJECT PROPERTY

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6753 Selma Ave, Los Angeles CA 90028 12

SUBMARKET

Hollywood, located in central Los Angeles, is a heavily populated and ethnically diverse neighborhood known for the US film Industry. Since its emergence as the capital of the film industry, Hollywood became a cultural icon and major tourist attraction. Millions of visitors come to Hollywood to experience attractions such as TCL Chinese Theatre, Hollywood Walk of Fame, Dolby Theatre, Universal Studios Hollywood and shops and restaurants at Hollywood and Highland Center.

HOLLYWOOD

SUBJECT PROPERTY

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MVP Commercial 13

HOLLYWOOD ENTERTAINMENT

The TCL Chinese Theater, the most iconic movie palace in the world, holds events that include movie premieres, film festivals and other events.

TCL CHINESE THEATRE, 6925 Hollywood Blvd, Hollywood CA 90028

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6753 Selma Ave, Los Angeles CA 90028 14

LOCATION OVERVIEW

Los Angeles, the second largest city in the United States, is located

in southern California and is situated in the county of Los Angeles.

This city is known for its sunny climate, sprawling city life, and considered

to be the center of the entertainment capital of the world.

The city of Los Angeles leads its counterparts in several major growth

industries. LA county has more than 87,000 jobs in the fashion

industry surpassing New York city. In addition, Los Angeles houses

700,000 jobs in health services/biomedical field and 190,000 jobs in

the aero-space and technology field.

CITY OF LOS ANGELES

Location Highlights

• In 2015, leisure and hospitality is the leading industry with 488,100

jobs in Los Angeles. In the same year, this sector added 21,500

jobs which represents 4.6% job growth year after year.

• The largest number of manufacturing jobs of any county in the

country.

• Other major industries include health care, education, and

business services.

• L.A.’s coastal regions boast some of the best surf spots, amazing

oceanfront dining and trendy shops.

• Los Angeles has more museums and theatres than any other

city in the United States. Los Angeles has 105 museums and

225 theatres making it the mecca of arts and culture.

• With its rich cultural diversity, Los Angeles has the most

dynamic dining experiences a city has to offer. Each region

of Los Angeles offers a variety of dining options without ever

leaving the general area.

Source: www.discoverlosangeles.com

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MVP Commercial 15

LOCATION OVERVIEW

GEOGRAPHYThe city of Los Angeles, surrounded by the San Gabriel Mountain

range and divided by the Santa Monica Mountains, is primarily a

desert basin. This city has 75 miles of coastline and altitudes ranging

from 9 feet below sea level at Wilmington to 10,080 feet above sea

level at Mt. San Antonio. Los Angeles rivers include Rio Hondo,

San Gabriel, Santa Clara and Los Angeles rivers.

City of Los Angeles: 472 square miles

County of Los Angeles: 4,084 square miles

Los Angeles Five-County Area: 34,135 square miles

Source: LACity.org, LACounty.org, California State Association of Counties counties.org

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6753 Selma Ave, Los Angeles CA 90028 16

NOTABLE LANDMARKS

Madang Plaza Shopping Mall, 621 S. Western Ave, Los Angeles CA 90005 Hollywood Wax Museum

Hollywood Sign

Roosevelt Hotel

Hollywood Walk of Fame

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MVP Commercial 17

Madang Plaza Shopping Mall, 621 S. Western Ave, Los Angeles CA 90005 El Capitan Theatre

Lowes Hollywood Hotel

Capital Records Building

Dolby Theatre

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6753 Selma Ave, Los Angeles CA 90028 18

HOLLYWOOD RETAIL CENTER

Hollywood and Highland Center, 387,000 square foot center, is a shopping mall that has 70 major retail tenants and 25 restaurants.

HOLLYWOOD AND HIGHLAND CENTER, 6801 Hollywood Blvd, Hollywood CA 90028

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MVP Commercial 19

DOWNTOWN LOS ANGELES

THE GREATER LOS ANGELES AREA

Downtown Los Angeles, a large city with an abundance of historic architecture and cultural attractions, offers incredible restaurants, hotels with amazing views and a thriving nightlife. In the South Park District of Downtown Los Angeles is L.A. Live, an entertainment complex, that host popular attractions like the GRAMMY Museum, Lucky Strick Lanes and Regal Cinemas. In addition, STAPLES Center, adjacent to the L.A. Live, is home to the Los Angeles Lakers, Clippers, Kings and Sparks.

Known for its glitz and glam, Hollywood is home to film, television and music industries. Although most studios have moved to neighboring cities, Hollywood still attracts millions of visitors each year. Hollywood and Highland Center, in the heart of Hollywood, is one of the hottest entertainment centers in Los Angeles. Hollywood is ethnically diverse, heavily populated and offers delicious multicultural cuisines.

Renowned for its sunny skies and beaches, Santa Monica attracts more than 7 million visitors a year. This one of a kind city averages more than 300 days of sunshine a year and has some of the best sunsets on the west coast. Santa Monica has become a walkable and bike-friendly town allowing easy access to shopping, restaurants and attractions such as the Santa Monica Pier and Third Street Promenade.

HOLLYWOOD SANTA MONICA

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DEMOGRAPHICS

City of Los Angeles: 4.0 Million

County of Los Angeles: 10.1 Million

Los Angeles Five-County Area: 18.6 Million

POPULATION (2015)

Source: California Department of Finance, Demographic Research Visit

Hispanic or Latino (of any race) 47.9%

Non-Hispanic Whites: 27.5%

Asian/Pacific Islander: 13.7%

African-American: 8.1%

American Indian/Others: 2.8%

Source: U.S. Census Bureau - 2013 American Community Survey

ETHNICITY

Median household income: $48,610

Mean household income $76,557

Median family income: $53,008

Mean family income: $83,965

Median non-family income: $38,227

Mean non-family income: $61,155

Source: 2006-2008 American Community Survey

INCOME

“The diverse, multiethnic population of Los Angeles today

distinguishes the city as the cultural hub of the Pacific Rim.

People from more than 180 countries, speaking 140 different

identified languages, currently call Los Angeles home. Los

Angeles does not have a majority population.”

- www.discoverlosangeles.com

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MAJOR EMPLOYERS

County of Los Angeles 96,500

Los Angeles Unified School District 59,600

City of Los Angeles (including DWP) 46,900

University of California, Los Angeles 46,900

Federal Government (non-Defense Dept.) 43,400

Kaiser Permanente 36,000

State of California (non-education) 29,200

Northrop Grumman Corp. 17,000

Target Corp. 15,000

Providence Health & Services 15,000

Source: California Employment Development Department, The Los Angeles Business Journal, and Almanac research

TOP 10 EMPLOYERS IN LOS ANGELES

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RETAIL CENTERS IN THE GREATER LOS ANGELES AREA

RODEO DRIVE

Rodeo Drive is in the center of the Golden Triangle. Some of the most luxurious hotels, shopping and dining in the world occupy this distinguished corridor. The most prestigious and recogniz-able brands in fashion such as Valentino, Saint Laurent, Tiffany & Co., Cartier, Rolex, Chanel and Salvatore Ferragamo are situat-ed on Rodeo Drive.

THE GROVE

The Grove, an entertainment

complex in Los Angeles, features

brand name stores, chain and local

restaurants, a large center park with

an animated fountain and Pacific

Theatres. Visitors can take a free

ride to The Grove Trolley which

travels along First Street between

The Grove and Famer’s Market.

MELROSE AVE

Melrose Avenue is famous for its

underground and new wave retail

stores which became popular in

the 1980’s . This dest inat ion

attracts visitors from all over the

world for its unique shopping

experience, spectacular dining,

and entertainment.

BEVERLY CENTER

Beverly Center, eight-story shopping

mall located at the edge of Beverly

Hills and West Hollywood, provides

a shopping experience unlike its

counterparts in the local area. With

over 100 specialty retail stores,

shoppers are able to get everything

they need in one location. Recently,

the owners have unveiled their plans

to spend $500 million to renovate

the Beverly Center.

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Los Angeles County is home to 113 accredited colleges and universities, including such prestigious institutions as the University of Southern California (USC), UCLA, Pepperdine University, Occidental College, Loyola Marymount University and the Art Center College of Design.

Source: LAEDC

COLLEGES & UNIVERSITIES

University of Southern California

Pepperdine University

University of California, Los Angeles

Art Center College of Design

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HEALTH CARE CENTERS

According to U.S. News, UCLA Medical Center, Cedars-Sinai Medical Center, Kesk Medical Center of USC and Kaiser Permante Los Angeles Medical Center are ranked in the top 20 hospitals in California.

UCLA Medical Center

Keck Medical Center of USC

Cedars-Sinai Medical Center

Kaiser Permanente LA Medical

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PARKS AND RECREATION

Spanning an impressive 4,210 acres, it’s easy to get lost in LA’s largest public green space, much of which remains unchanged from the days when Native Americans settled here.

Griffith Observatory

Kenneth Hahn is impressive in both size and topography for a park in the middle of the Westside.

Kenneth Hahn State Recreation Area

Explore the La Brea Tar Pits, which for over 100 years has unearthed prehistoric fossils, and enjoy the Urban Light sculptures from LACMA which is within a stone’s throw.

Hancock Park La Brea

Unlike the touristy turnout just up the road, this park stays quiet throughout the day. The whole family can enjoy the playground, shaded picnic benches and one of the most fantastic views of the Hollywood Sign.

Lake Hollywood Park

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This Confidential Memorandum has been prepared by MVP Commercial Investment Real Estate (“MVP”) and is being furnished to you solely for the purpose of your review of the commercial property located at 6753 Selma Avenue, Los Angeles CA 90028. The material contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of MVP Commercial Investment Real Estate and KW Commercial (“Broker”).

By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to MVP as soon as practicable together with all other materials relating to the Property which you may have received from MVP; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of MVP.

This Confidential Memorandum has been prepared by MVP, based upon certain information pertaining to the Property and any information obtained from MVP to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by MVP to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon MVP, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither MVP or KW Commercial, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred.

MVP, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice.

This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memorandum, you agree to release MVP and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. MVP reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time.

CONFIDENTIAL DISCLAIMER

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Adrian StepienSenior Investment Associate310.301.2352 | [email protected]: #01979555

Jonathan PrakashExecutive Managing Director, Partner310.301.2351 | [email protected]: #01483131

Derrick VartanianExecutive Managing Director, Partner310.301.2353 | [email protected]: #01816119

www.mvpcre.com

In Association with KW Commercial Santa Monica