86 UNIT MIXED USE
DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
OFFERING MEMORANDUM
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other
person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to
provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of
interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence
investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with
respect to the income or expenses for the subject property, the future projected financial performance of the property,
the size and square footage of the property and improvements, the presence or absence of contaminating substances,
PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements
thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue
its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from
sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the
information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and
makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP
AGENT FOR MORE DETAILS.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2009 Marcus & Millichap Q0120032
CONFIDENTIALITY AND DISCLAIMER
CONFIDENTIALITYAGREEMENT
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended
PRICING & FINANCIAL ANALYSIS
86 UNIT MIXED USE
DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
SUMMARY
Property
86 Unit Mixed Use Development Site
Property Address
7401 Lankershim Boulevard
North Hollywood, CA 91605
Price
Down Payment
Lot Size (SF)
Price/SF
Lot Size (Acres)
Buildable SF
Type of Ownership
SITE DESCRIPTION
Assessor's Parcel Number
Zoning
Frontage
4,750,000
100% $4,750,000
41,421
$114.68
0.9509
0
Fee Simple
2317-017-002
PRICING & FINANCIAL ANALYSIS
Financial Overview
LA C2
150'
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2009 Marcus & Millichap Q0120032
1
PROPERTY DESCRIPTION
86 UNIT MIXED USE
DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
7401 Lankershim Boulevard offers the opportunity to acquire 41,421
INVESTMENT
HIGHLIGHTS
86 Unit Condominium
Development
square feet of land for a mixed use development along Lankershim
PROPERTY DESCRIPTION
Investment Overview
Boulevard between Sherman Way and Saticoy Street in the heart of
North Hollywood.
The subject property is zoned C2-1VL with a Tentative Tract map for a
110,901 square foot structure. The proposed development consists of 86
Delivered with Tentative Tract
Map
condominium units and 4,400 square feet of retail space. The unit mix of
the condominiums breaks down to 63 two bedroom two bathroom units
and 23 three bedroom two bathroom units. The average size of each two
Development Situated on a 41,000
Square Foot Lot
bedroom two bathroom unit is approximately 1,022 square feet and
each three bedroom two bathroom unit is approximately 1,229 square
feet. The projected development is a five story building with one level
Prime Lankershim Boulevard
Location
of subterranean parking.
7401 Lankershim Boulevard offers 150 feet of frontage along the west
Excellent Visibility and Frontage
side of Lankershim Boulevard and has a uniform depth of 275 feet.
Currently, the existing improvements consist of three retail storefronts
and residential and office units in the rear totaling 5,978 square feet and
generating an income of $5,500 a month.
Surrounding properties fall within the R2-1, R3-1 and C2-1VL zones
and are characterized by level topography and improved streets. The
surrounding properties are developed with one-to three-story singlefamily dwellings, apartments and commercial buildings.
Please contact the listing agents for more information and do not
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2009 Marcus & Millichap Q0120032
3
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
PROPERTY DESCRIPTION
Property Photos
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2009 Marcus & Millichap Q0120032
4
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
PROPERTY DESCRIPTION
Area Maps
LOCAL MAP
REGIONAL MAP
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2009 Marcus & Millichap Q0120032
5
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
PROPERTY DESCRIPTION
Plat Map
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2009 Marcus & Millichap Q0120032
6
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
PROPERTY DESCRIPTION
Aerial Photo
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the
information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus
& Millichap Real Estate Investment Services, Inc. © 2009 Marcus & Millichap Q0120032
7
86 UNIT MIXED USE DEVELOPMENT SITE
NORTH HOLLYWOOD, CA
OFFERING MEMORANDUM
Exclusively Listed By:
Daniel Withers
Associate
National Multi Housing Group
Encino Office
Tel: (818) 212-2812
Fax: (818) 212-2710
[email protected]
Brandon Michaels
Associate Vice President Investments
Encino Office
Tel: (818) 212-2794
Fax: (818) 212-2710
[email protected]
www.marcusmillichap.com/bmichaels
Offices Nationwide
www.MarcusMillichap.com