for sale or lease > 6507-6509 de longpre ave | los angeles…€¦ · los angeles, ca building...
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FOR SALE OR LEASE > 6507-6509 DE LONGPRE AVE | LOS ANGELES, CA
PATRICK MOODY
Associate
License No. 02024230
213 327 3334
NATHAN PELLOW
Executive Vice President
License No. 01215721
213 532 3213
EXECUTIVE SUMMARY
Executive Summary.......................................................................................................3
Property Highlights........................................................................................................4
Floor Plan............................................................................................................................7
Property Photos.................................................................................................................8
Rent Roll / Income & Expense Summary - Proforma................................12
Plat Map.................................................................................................................................13
Location Map.....................................................................................................................14
Amenities Map.................................................................................................................16
Featured Developments............................................................................................18
Sales Comparables........................................................................................................20
> TABLE OF CONTENTS
> EXECUTIVE SUMMARY
THE OFFERING
Colliers International, as Exclusive Broker, is pleased to present the op-
6507-6509 De Longpre Ave in Hollywood, CA - an irreplaceable location in
the heart of the booming Hollywood market.
equipped with a gated parking lot suitable for up to 15 cars. The property is
centrally located in downtown Hollywood. Its location provides easy access
to Hollywood amenities, world-famous production studios, new/existing
developments and the 101 freeway. 6507-6509 De Longpre underwent a
major renovation in 2008 and the result was an architecturally sound build-
This compound provides the perfect opportunity for owner/users and inves-
tors to purchase a new building in the heart of Hollywood.
SUMMARY
ADDRESS
6507-6509 De Longpre Avenue
Los Angeles, CA
BUILDING SF
4,590
LAND SF
7,199
ASKING PRICE
$4,250,000
ASKING LEASE RATE
$4.00 PSF NNN
BUILDING PSF
$925
LAND PSF
$590
P. 3
> AMENITIES MAP > PROPERTY HIGHLIGHTS
P. 4
PROPERTY HIGHLIGHTS
Sales Price: $4,250,000
Lease Rate: $4.00 PSF NNN
Price PSF Building: $925
Price PSF Land: $590
Square Feet: 3,600 - 4,590 SF
Proforma Cap Rate: 5.2%
Address: 6507-6509 De Longpre Avenue
APN: 5546-014-016
Property Type:
Building Size: 4,590 SF
Lot Size: 7,199 SF
Zoning: LAC2
Year Built: 1948
Year Renovated: 2008
Stories: 1
Parking: 10 gated spaces, potential for 15 tandem spaces
> Fully renovated in 2008
> Bright space with high ceilings and skylights
throughout
> Private gated parking
> Private gated & landscaped courtyard
> Private writers bungalow with full shower
> Fully wired with data/telecom/security/
sound system
> Walking distance to restaurants, bars, new
hotels and the Arclight theater
> Irreplaceable location in the heart of
booming Hollywood
BUILDING HIGHLIGHTS
> FLOOR PLAN
P. 7
3,600 SF +/- 990 SF +/-
4,590 SF +/-
> INTERIOR PHOTOS - FRONT BUILDING
P. 8
> INTERIOR PHOTOS - FRONT BUILDING
P. 9
> INTERIOR PHOTOS - FRONT BUILDING
P. 10
> INTERIOR PHOTOS - REAR BUILDING
P. 11
P. 12P. 12P. 12
> RENT ROLL / INCOME & EXPENSE SUMMARY - PRO FORMA
Monthly Yearly
Total Rent $18,360 $220,320
Expenses
Insurance $300 $3,600
Taxes $2,000 $24,000
HVAC $58.33 $700
Gardening/Sprinkler $150 $1,800
Exterminator $50 $600
Roof Service $100 $1,200
Utilities (Electric, Gas, Water) $600 $7,200
Pest Control $50 $600
Cleaning (Interior 1x per week) $500 $6,000
Trash Service $150 $1,800
Total Expenses $3,908 $46,900
NOI $18,360 $220,320
Unit Use PSF/Mo. SF Per Month Per Year
1 $4.00 4,590 $18,360 $220,320
Total 4,590 $18,360 $220,320
NOI Value Cap Rate
$220,320 $4,250,000 5.2%
> PLAT MAP
P. 13
> LOCATION MAPLOCATION MAP
6507-6509 DE LONGPRE AVE
P. 14
> AMENITIES > AMENITIES
P. 15
> AMENITIES MAP
3640
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2
3
1
8
4
67
5
9
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11
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16
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181921
32
33
34
27
28
20
30
31
26
25
41
42
43
22
23
2429
SUNSET BLVD
VIN
E S
TR
EET
6507-6509 De Longpre Avenue
44
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5152
53
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5960
P. 16
> AMENITIES
Hotels/Residences
7 Dream Hollywood
8 W Hollywood
9 The Hollywood Hotel
10 Instrata Sunset Vine Tower Apartments
11 The Camden Apartments
12 1600 VINE
13 Hollywood Proper Residences
14 Villa Elaine Apartments
15 Sunset & Vine
16 Hudson Hollywood Apartments
Food
17 Starbucks
18 Tender Greens
19 Chipotle
20
21
22
23 McDonald’s
24 Umami Burger
25 Jack In The Box
26 Veggie Grill
Development
32 Palladium Residences - 731 Apartment Units
33 Rise Hollywood - 369 Apartment Units
34 The Academy Hollywood - 250 Apartment Units
35 Onni’s Hollywood Tower - 429 Residential Units
36 Hollywood Ivar Garden - 21 Story Hotel
37 Crossroads of the World - 760 Units & 308 Hotel Rooms
38 Millenium Hollywood - Two Towers, 30 Stories each
39 Essex Hollywood - 200 Multifamily Units
Studio/Theaters
1 ArcLight Cinemas
2 Hollywood Palladium
3 Hollywood Pantages Theatre
4 Arena Cinelounge Lounge
5 The Fonda Theatre
6 The Montalban
Food (continued)
27 Stella Barra Pizzeria
28 Big Wangs Hollywood
29 Kabuki Japanese
30 800 Degrees Pizza
31 Jersey Mike’s Subs
Bar/Nightlife
40 Warwick
41 Lure Nightclub
42 Tao
43 Beauty & Essex
44 Good Times at Davey Wayne’s
45 The Argyle
46 Sassafras Saloon
47 No Vacancy
Other
48 Amoeba Music
49 Capital Records Building
50 CNN Tower
51 Sunset Media Center
52 Equinox
53 Hollywood/Vine Metro Station
54 US Postal Service
55 Southern California Hospital Hollywood
56 Bank of America
57 LAPD
58 Trader Joes
59 Walgreens
60
P. 17
> FEATURED DEVELOPMENTS > FEATURED DEVELOPMENTS
SUBJECT PROPERTY
6507-6509 De Longpre
Avenue
Rise Hollywood
1311 North Cahuenga Boulevard
The Academy
1341 N. Vine Street
Onni’s Hollywood Tower
1360 N. Vine Street
Hollywood Ivar Gardens
6409 Sunset Boulevard
2
3
P. 18
1
4
Kilroy Realty has begun the construction process on a
$450-million development project that will feature 250
square feet of retail space. The mixed-use complex
consists of 2 mid-rise structures along with a 23-story
residential tower, and is located just 2 blocks east of the
subject property. Construction began in 2016 and there is
The Academy - 1341 N Vine St2
tower that will include 429 units, 60,000 square feet of
pedestrian friendly commercial space and parking for 677
vehicles. Open space is a major attraction to the 262-foot
and a grocery store. The development is located just 3
blocks from the subject property, and if approved by the
city, will be completed in 2021.
Onni’s Hollywood Tower - 1360 N Vine St3
The current Jack in the Box on Sunset will be transformed
into a 21-story hotel featuring 275 rooms, parking for 135
vehicles, and roughly 2,000 square feet of commercial
space. The art-deco inspired structure will include a roof-
across from the CNN Tower, a few blocks north of the
subject property and will take 22 months to construct—no
timetable on when it will break ground.
Hollywood Ivar Gardens - 6409 Sunset Blvd4
P. 19
This 7-story development calls for 369 apartments
and 2,500 square feet of commercial space. The
amenities include an underground parking structure,
gym, and outdoor deck areas. The development is
located just 1 block from the subject property and is
set to be complete in the second half of 2018.
Rise Hollywood - 1311 N Cahuenga Blvd1
> SALES COMPARABLESSALES COMPARABLES MAP
P. 20
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5
2
6
4
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5
3
1
6507-6509 DE LONGPRE AVE
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10
> SALES COMPARABLESSALES COMPARABLES
P. 21
# BUILDING PHOTO PROJECT NAME / ADDRESSBUILDING
SIZEPRICE / PSF SALES PRICE DATE SOLD NOTES
6507-6509 De Longpre Avenue
Los Angeles, CA 900284,590 SF -- -- -- Subject property
1818 North La Brea Avenue
Los Angeles, CA 900385,340 SF $749.06 $4,000,000 09/01/2017
Property delivered vacant for owner/user
purchase
26424 Santa Monica Boulevard
Los Angeles, CA 900386,006 SF $791.88 $4,750,000 05/09/2017
Reverse 1031 Exchange - on the market
for just over a month
3709 North Gardner Street
Los Angeles, CA 900462,832 SF $847.46 $2,400,000 04/26/2017 All cash, owner/user sale
41601 Ivar Avenue
Los Angeles, CA 900285,414 SF $785.00 $4,250,000 04/06/2017 Owner/User Sale
5910 North Citrus Avenue
Los Angeles, CA 900385,000 SF $700.00 $3,500,000 12/14/2016
> SALES COMPARABLESSALES COMPARABLES
P. 22
# BUILDING PHOTO PROJECT NAME / ADDRESS BUILDING SF PRICE / PSF SALES PRICE DATE SOLD NOTES
65707-5709 Melrose Avenue
Los Angeles, CA 9003810,390 SF $952.84 $9,900,000 12/01/2016 1031 Exchange
7755 Seward Street
Los Angeles, CA 900386,000 SF $841.67 $5,050,000 11/29/2016
Owner/User Sale, building was
purchased raw for custom build-out
tailored to the buyers business
81400 North Cahuenga Boulevard
Los Angeles, CA 9002811,845 SF $1,392.99 $16,500,000 08/18/2016 Redevelopment
9843 Seward Street
Los Angeles, CA 900384,234 SF $879.78 $3,725,000 07/01/2016
Owner/User purchase, property was
renovated in late 2015
10953 North Cole Avenue
Los Angeles, CA 900382,800 SF $1,062.50 $2,975,000 In Escrow
Average Price PSF: $900.31
PATRICK MOODY
Associate
License No. 02024230
213 327 3334
NATHAN PELLOW
Executive Vice President
License No. 01215721
213 532 3213
FOR SALE OR LEASE > 6507-6509 DE LONGPRE AVE | LOS ANGELES, CA