w florence ave medical office...demographics 1 mile 3 mile 5 mile 2019 population 38,253 408,014...
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W Florence Ave Medical Office2500 W Florence Avenue, Los Angeles CA 90043
O F F E R I N G M E M O R A N D U M
W Florence Ave Medical OfficeCONTENTS
Exclusively Marketed by:
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
01 Executive Summary Investment Summary 4 Location Summary 5
02 Property Description Property Features 7 Aerial Map 8 Parcel Map 9
03 Sale Comps 2422WFlorenceAve 11
04 Demographics Demographics 14 Demographic Charts 15
Christopher Mavian Managing Partner - Westside CalBRE #01980693(818) [email protected]
Terrence Phillips Senior Associate CalBRE # 02012744(310) [email protected]
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Executive Summary
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Investment Summary
Location Summary
W Florence Ave Medical Office Investment Summary | 04
OFFERING SUMMARYADDRESS 2500 W Florence Avenue
Los Angeles CA 90043
COUNTY Los Angeles
MARKET Hyde Park
OFFERING PRICE $1,099,000
BUILDING SF 3,164
PRICE PSF $347.35
LAND SF 11,473 SF
YEAR BUILT 1950
OWNERSHIP TYPE Fee Simple
ZONING TYPE LAC2
APN 4009002037, 4009002038
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 38,253 408,014 1,093,7262019 Median HH Income $41,212 $42,723 $42,6222019 Average HH Income $60,230 $60,964 $62,308
Currently built out as Dental/Medical Office
Traffic Count Approximately 38,000
Approximately half of the property owner occupied withthe next door tenant on a month to month lease.
Great Owner-User Opportunity
Potential Redevelopment Opportunity (Over 11,000 SF ofLand)
Zoned LAC2
Located east of Crenshaw Blvd., and west of S Van NessAve.
Close to the Metro Crenshaw/LAX Line and proposedeight-acre development project on W Slauson Ave.
W Florence Ave Medical Office Location Summary | 05
W Florence A
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Property Description
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Property Features
Aerial Map
Parcel Map
Additional Maps
Property Images
W Florence Ave Medical Office Property Features | 07
PROPERTY FEATURESBUILDING SF 3,164LAND SF 11,473YEAR BUILT 1950# OF PARCELS 2ZONING TYPE LAC2NUMBER OF STORIES 1NUMBER OF BUILDINGS 1NUMBER OF PARKING SPACES 16PARKING RATIO 5/1000TRAFFIC COUNTS Approximately 38,000
W Florence Ave Medical Office Aerial Map | 08
W Florence Ave Medical Office Parcel Map | 09
W Florence A
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Sale Comps
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Uploaded Sales Comparables
Sale Comparables
Sale Comparables Charts
Sale Comparables Map
2422 W Florence Ave
Los Angeles, CA 90043
Sale on 1/30/2019 for $472,000 ($412.59/SF) - Public Record
1,144 SF Class C Medical Building Built in 1955
SOLD
1
Sale Date:
Price/SF:
Sale Price:
$412.59
$472,000
01/30/2019
Bldg Type:
Land Area:
Year Built/Age:
RBA:
Medical
Built in 1955 Age: 64
1,144 SF
0.13 AC (5,750 SF)
Percent Leased: 100.0%
Transaction Details
Asking Price: -
Price/AC Land Gross: $3,575,757.58
Total Value Assessed:
Improved Value Assessed
Land Value Assessed:
$470,991 in 2018
$70,645
$400,346
Percent Improved: 15.0%
Land Assessed/AC: $3,032,924
-Sale Type:
ID: 4672097
-
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Tenancy: Single
Escrow Length: -
Parcel No: 4009-002-007
Document No: 0091584
Sale History: Sold on 1/30/2019Sold for $472,000 ($412.59/SF) on 1/30/2019Sold on 8/28/2012
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Copyrighted report licensed to The Hart Groups - 704040. 7/11/2019
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Bldg Type: Medical
C
0 SF
Class:
Total Avail:
Bldg Vacant:
Tenancy:
Owner Type:
Owner Occupied
0 SF
Single
-
No
Bldg Status: Built in 1955
100.0%
-
% Leased:
Rent/SF/mo:
Typical Floor Size:
Land Area:
Elevators:
Zoning: 1,144 SF
0.13 AC
0
LAC2
Current Building Information
RBA: 1,144 SF
Core Factor: -
Stories: 1
Building FAR: 0.20
Parking: 8 Reserved Spaces are available; Ratio of 6.99/1,000 SF
Const Type: Wood Frame
Expenses: 2018 Tax @ $5.20/sf
ID: 1293183
Location Information
Los Angeles
South Bay/LAX
Metro Market:
Submarket:
County: Los Angeles
CBSA: Los Angeles-Long Beach-Glendale, CA
DMA: Los Angeles, CA-NV
CSA: Los Angeles-Long Beach, CA
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2422 W Florence Ave SOLD1,144 SF Class C Medical Building Built in 1955 (con't)
Copyrighted report licensed to The Hart Groups - 704040. 7/11/2019
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W Florence A
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Demographics
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Demographic Details
Demographic Charts
W Florence Ave Medical Office Demographics | 14
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 36,638 382,011 1,021,767
2010 Population 37,334 393,718 1,052,133
2019 Population 38,253 408,014 1,093,726
2024 Population 38,644 413,541 1,110,723
2019 African American 23,421 173,226 324,223
2019 American Indian 178 2,749 8,123
2019 Asian 208 4,147 36,109
2019 Hispanic 13,644 219,433 668,966
2019 White 4,940 85,726 302,273
2019 Other Race 7,876 123,817 370,781
2019 Multiracial 1,587 17,762 49,963
2019-2024: Population: Growth Rate 1.00 % 1.35 % 1.55 %
2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 2,498 22,219 55,511
$15,000-$24,999 1,676 16,199 41,584
$25,000-$34,999 1,669 14,017 35,829
$35,000-$49,999 1,542 17,756 45,087
$50,000-$74,999 2,235 21,364 54,149
$75,000-$99,999 1,374 13,078 31,847
$100,000-$149,999 1,385 13,214 32,376
$150,000-$199,999 451 4,676 11,983
$200,000 or greater 359 3,400 10,372
Median HH Income $41,212 $42,723 $42,622
Average HH Income $60,230 $60,964 $62,308
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 13,698 130,164 328,026
2010 Total Households 12,993 123,031 310,501
2019 Total Households 13,188 125,923 318,739
2024 Total Households 13,254 126,911 322,004
2019 Average Household Size 2.89 3.21 3.38
2000 Owner Occupied Housing 6,433 49,015 112,255
2000 Renter Occupied Housing 6,231 71,687 194,340
2019 Owner Occupied Housing 6,118 47,126 108,375
2019 Renter Occupied Housing 7,070 78,797 210,364
2019 Vacant Housing 917 8,894 21,899
2019 Total Housing 14,105 134,817 340,638
2024 Owner Occupied Housing 6,235 48,318 111,473
2024 Renter Occupied Housing 7,019 78,593 210,531
2024 Vacant Housing 921 8,958 22,147
2024 Total Housing 14,175 135,869 344,151
2019-2024: Households: Growth Rate 0.50 % 0.80 % 1.00 %
Source: esri
W Florence Ave Medical Office Demographic Charts | 15
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2019 Population by Race
W Florence Ave Medical Office Demographic Charts | 16
2019 Household Occupancy - 1 Mile Radius
Average Income Median Income
2019 Household Income Average and Median
W Florence Ave Medical Office
CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from The Hart Groups and it should not be madeavailable to any other person or entity without the written consent of The Hart Groups.
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treatall such information in the strictest confidence. The recipient further agrees that recipient will not photocopy orduplicate any part of the offering memorandum. If you have no interest in the subject property, pleasepromptly return this offering memorandum to The Hart Groups. This offering memorandum has been preparedto provide summary, unverified financial and physical information to prospective purchasers, and to establishonly a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. The HartGroups has not made any investigation, and makes no warranty or representation with respect to the incomeor expenses for the subject property, the future projected financial performance of the property, the size andsquare footage of the property and improvements, the presence or absence of contaminating substances,PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans orintentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources we believe reliable;however, The Hart Groups has not verified, and will not verify, any of the information contained herein, nor hasThe Hart Groups conducted any investigation regarding these matters and makes no warranty orrepresentation whatsoever regarding the accuracy or completeness of the information provided. All potentialbuyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shallbe responsible for their costs and expenses of investigating the subject property.
Exclusively Marketed by:
powered by CREOP
Christopher Mavian Managing Partner - Westside CalBRE #01980693(818) [email protected]
Terrence Phillips Senior Associate CalBRE # 02012744(310) [email protected]