Prime West Hollywood Mixed-Use (Residential & Retail) Development Opportunity
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1 Capital Markets Multi-Housing Group Prime West Hollywood Mixed-Use (Residential & Retail) Development Opportunity ±.72 ACRES with frontage on SANTA MONICA BLVD :: :: WEST HOLLYWOOD, CA SUBJECT SITE SANTA MONICA BLVD Price $8,450,000 LOT SIZE ±31,411 SF (±0.72 Acres) Street Frontage ±250 Feet on Santa Monica Blvd. WEST HOLLYWOOD ZONING CC APN THOMAS Map Page 593-C5 CURRENT IMPROVEMENTS Car Wash* *Call for details :: Kadie Presley Senior Sales Director Lic :: Nancy Badzey Senior Multi-Housing Specialist Lic :: Laurie Lustig-Bower Executive Vice President Lic
2 LOCATION HIGHLIGHTS This property represents an excellent opportunity to develop luxury residential units in the heart of West Hollywood Prime West Hollywood location on Santa Monica Boulevard, between Fairfax Avenue and La Brea Avenue Nearby amenities include: - Whole Foods Market - Trader Joe s - Gelson s Market - Target - Basix Café - Bar Lubitsch - Best Buy - BevMo - Starbucks - Formosa Café - Jones - Gardens of Taxco - Tinto Restaurant - Crazy Rock n Sushi - Jamba Juice DEMOGRAPHICS Source: Claritas Within a half-mile radius of the Subject Property: The 2010 Estimated Median Housing Value is $727,759. The number of households is expected to grow by almost 3% by GENESEE AVENUE SPAULDING AVENUE SPAULDING AVENUE STANLEY AVENUE CURSON AVENUE SANTA MONICA BOULEVARD CURSON AVENUE SELECT CONDOMINIUMS SALES WITHIN A ONE MILE RADIUS OF THE SUBJECT PROPERTY Source: Combined Westside and Los Angeles Multiple Listing Service ADDRESS CITY ZIP BR BA SALES PRICE $/SF SF YB SOLD DATE 1416 HAVENHURST DR #4B West Hollywood $1,850,000 $ , /18/ N KINGS RD #221 West Hollywood $275,000 $ /26/ N HAYWORTH AVE #B West Hollywood $485,000 $ /10/ N SWEETZER AVE #9 West Hollywood $800,000 $ , /25/ N HAYWORTH AVE #E West Hollywood $470,000 $ /23/ HAWTHORN AVE #402 Los Angeles $435,000 $ /01/ N KINGS RD #330 West Hollywood $245,000 $ /29/ W SUNSET BLVD #5 Los Angeles $720,000 $ , /19/ HAVENHURST DR #7 West Hollywood $990,000 $ , /01/ N CRESCENT HEIGHTS BLVD #70 West Hollywood $850,000 $ , /29/ N DETROIT ST #2 Los Angeles $660,000 N/A N/A N/A 03/04/ N ORANGE GROVE AVE #9 West Hollywood $670,000 N/A N/A N/A 08/27/ N POINSETTIA PL #4 Los Angeles $590,000 N/A N/A /03/ DETROIT ST #104 Los Angeles $730,000 N/A N/A /01/ SANTA MONICA BLVD 2
3 7617 SANTA MONICA BLVD RETAIL MAP West Hollywood Highlights West Hollywood is bordered on the north by the Hollywood Hills, on the east by the Hollywood District of Los Angeles, on the west by the city of Beverly Hills, and on the south by the Fairfax District of Los Angeles. West Hollywood is one of the top 10 most filmed sites in the world. Only in West Hollywood will you find the legendary Sunset Strip, eclectic Santa Monica Boulevard, and The Avenues all making up West Hollywood s 1.9 square miles of unparalleled nightlife, innovative dining venues, world-class shopping and luxurious spas SANTA MONICA BLVD 3
4 7617 SANTA MONICA BLVD ZONING MAP SANTA MONICA BLVD Buyers are strongly encouraged to perform their own research to determine if their intended use for the site is allowed and/or feasible. Broker and Seller make no representations about the development potential of the site. In addition to the buyer s own research we would also encourage buyers to review the below links to further explore the site s development potential: West Hollywood Code Chapter Commercial and Public Zoning Districts Chapter Affordable Housing Requirements and Incentives Chapter Affordable Housing Incentives West Hollywood Information about Inclusionary Housing SANTA MONICA BLVD 4
5 7617 SANTA MONICA BLVD REGIONAL MAP CB Richard Ellis Broker Lic Century Park East Suite 700 Los Angeles, CA CB Richard Ellis, Inc. Broker Lic This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. :: Kadie Presley Senior Sales Director Lic kadie.presley@cbre.com :: Nancy Badzey Senior Multi-Housing Specialist Lic nancy.badzey@cbre.com :: Laurie Lustig-Bower Executive Vice President Lic laurie.lustig-bower@cbre.com
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