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UNIVERSAL CITYUNIVERSAL STUDIOS
WEDDINGTON PARK
LAKESIDE GOLF CLUB
HOLLYWOOD
134 FREEWAY
101 FREEWAY
RIVERSIDE DRM
OO
RP
AR
K R
D
LANKERSHIM BLVD
CAHUENGA BLVD
SITE
TOLUCA LAKE
PERMIT READY / FULLY ENTITLED FOR 12 RESIDENTIAL UNITS
www.Riverside-Drive.com
10352 – 58 Riverside Drive Toluca Lake, California
LAURIE LUSTIG-BOWERExecutive Vice President+1 310 550 2556laurie.lustig-bower@cbre.comLic. 00979360
KAMRAN PAYDARVice President+1 310 550 2529kamran.paydar@cbre.comLic. 01242590
• “Ready To Issue” for Building Permit and MEP(Mechanical, Electrical, Plumbing)
• Buyer Can Avoid $240,000 New Homeless MitigationFee by Obtaining Building Permit Before 12/3/19
• Former Structures Have Been Demolished• Park Fees Paid• Tract Map Issued Prior to Close of Escrow
Bids Due: Friday, October 18, 2019 by 5:00 PM
2
CONTACTLAURIE LUSTIG-BOWERExecutive Vice President+1 310 550 2556laurie.lustig-bower@cbre.com Lic. 00979360
KAMRAN PAYDARVice President+1 310 550 2529kamran.paydar@cbre.com Lic. 01242590
TABLE OF CONTENTS
1EXECUTIVE SUMMARY
2AREA OVERVIEW
3FINANCIALS
3
DOWNTOWN LA
SITE
TOLUCA LAKE LAKESIDE GOLF CLUB
UNIVERSAL CITYUNIVERSAL STUDIOS
HOLLYWOOD
RIVERSIDE DR
MOORPARK WAY
CA
HU
EN
GA
BLV
D
134 FREEWAY
4
134 FREEWAY
TOLUCA LAKE
TOLUCA WOODS
WARNER BROS STUDIO
BURBANK
GLENDALE
RIV
ERSI
DE
DR
MO
ORPARK RD
SITE
5
RIVERSIDE DR
MO
OR
PAR
K R
DSITE
5
6
SITE
PACIFIC OCEAN
6
7
EXECUTIVE SUMMARY 1
8
CBRE, Inc., as exclusive agent is pleased to present for sale a prime ±9,322 development site that is fully entitled to build 12 residential units in the desirable Toluca Lake submarket of Los Angeles, California.
Located in the San Fernando Valley at 10352-58 Riverside Drive, the project is permit ready:
The project is programmed to deliver an attractive mix of two-bedroom, three-bedroom, and penthouse units, along with ample parking and private roof deck space.
Surrounding demographics within a three-mile radius are exceptionally strong with average household income of $131,304 forecasted by 2024.
Boasting a “Very Walkable” Walk Score of 80, the Property is situated in an amenity-rich neighborhood. There are 36 restaurants within walking distance of the property, including Catcher in the Rye, Kaboso Japanese Cuisine and Malbec Argentinian Cuisine. 10352 Riverside Drive is close to Lakeside Golf Club (with access to the 6-acre Toluca Lake), Weddington Park and North Hollywood Park.
The Property is located less than 1.5 miles away from the trendy North Hollywood Arts District and to bustling Universal City, and is a short drive to upscale Studio City, Sherman Oaks. Also within convenient driving distance are numerous employment centers and dining, shopping, and entertainment venues including those in Burbank, Glendale, Pasadena, Warner Center and Downtown Los Angeles.
ADDRESS: 10352-58 Riverside Drive Los Angeles, California 91602
SUBMARKET: Toluca Lake
ASSESSOR PARCEL NUMBER: 2424-005-001
ESTIMATED LAND AREA: ±9,322 Square Feet; ±0.21 Acres
ZONING: R3-1
OWNERSHIP INTEREST Fee Simple
THE OPPORTUNITY PARCEL MAP
PRICE: Unpriced
WEBSITE: www.Riverside-Drive.com
• “Ready To Issue” for Building Permit and MEP (Mechanical, Electrical, Plumbing)
• Buyer Can Avoid $240,000 New Homeless Mitigation Fee by Obtaining Building Permit Before 12/3/19
• Former Structures Have Been Demolished
• Park Fees Paid• Tract Map Issued Prior to
Close of Escrow
9
# UNITS FLOOR PLAN UNIT SIZE
4 3 Bedroom / 3 Bath 1,690 SF
1 2 Bedroom / 2.5 Bath 1,387 SF
3 3 Bedroom / 2.5 Bath 1,585 SF
1 2 Bedroom / 2.5 Bath 1,409 SF
3 3 Bedroom / 2.5 Bath 1,720 SF
12 Total* 19,471 SF
PROPOSED BUILDING AREA: 22,177 SF
Basement Parking: 7,037 SF
1st Floor Parking 241 SF
Total Parking ±7,278 SF
PARKING SPACES:
Automobile 27 Spaces
Bicycle 16 Spaces
OPEN SPACE PROVIDED:
Private Open Space 600 SF
Common Open Space- Roof Deck 1,730 SF
Total Open Space 2,330 SF
HEIGHT LIMIT: 45 Feet
BUILDING TYPE:4 Story Over Basement/Parking
CONSTRUCTION TYPE: II-A / I-A
SUMMARY OF ENTITLEMENTS PROPOSED UNIT MIX
*Includes 3 Penthouse Units
Building plans and additional information are posted in the data room via www.Riverside-Drive.com.
• “Ready To Issue” for Building Permit and MEP (Mechanical, Electrical, Plumbing)
• Buyer Can Avoid $240,000 New Homeless Mitigation Fee by Obtaining Building Permit Before 12/3/19
• Former Structures Have Been Demolished
• Park Fees Paid• Tract Map Issued Prior to Close
of Escrow
10
SALES COMPARABLES 2
11
SOLD CONDOMINIUM PROPERTIESCriteria: Units located in Toluca Lake, Sherman Oaks, Studio City & Encino, $500+ PSF, sold from 9/13/17 to 9/13/19 Source: MLS, sorted by rice per square foot
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
Property Address City Br Ba SF Sale Price $/SF Built Sale Date MLS HOA
4466 COLDWATER CANYON AVE #103 STUDIO CITY 1 1 610 $439,000 $720 1988 7/12/2018 18-338984 $338
11847 LAURELWOOD DR #101 STUDIO CITY 2 3 1,467 $995,000 $678 1994 8/12/2019 19-476812 $450
4128 WHITSETT AVE #205 STUDIO CITY 2 2 1,040 $705,000 $678 1988 9/9/2019 19-507730 $434
12045 Guerin Street #PH1 STUDIO CITY 3 3 2,000 $1,350,000 $675 2017 2/23/2018 18-302224 $307
4201 RADFORD AVE #2 STUDIO CITY 2 3 1,056 $697,500 $661 1992 6/20/2019 19-456490 $425
4170 FAIR AVE #PH6 STUDIO CITY 2 2 1,250 $805,000 $644 2006 9/22/2018 18-376954 $340
12045 GUERIN ST #PH3 STUDIO CITY 3 3 1,959 $1,250,000 $638 2017 11/10/2017 17-259532 $307
12045 GUERIN ST #PH4 STUDIO CITY 3 3 1,959 $1,250,000 $638 2017 10/13/2017 17-240016 $307
4660 COLDWATER CANYON AVE #12 STUDIO CITY 1 1 625 $390,000 $624 1974 8/26/2019 19-456600 $242
12045 GUERIN ST #301 STUDIO CITY 0 0 2,000 $1,245,000 $623 2016 9/29/2017 16-177748 $307
4201 RADFORD AVE #5 STUDIO CITY 2 3 1,102 $676,000 $613 1992 11/29/2018 18-396248 $403
4242 STANSBURY AVE #115 SHERMAN OAKS 2 3 1,165 $699,000 $600 1975 7/27/2018 18-350192 $612
4240 Laurel Canyon BLVD #304 STUDIO CITY 2 3 1,356 $811,000 $598 - 9/27/2018 18-364254 $300
4466 COLDWATER CANYON AVE #204 STUDIO CITY 2 2 1,005 $595,000 $592 1988 7/7/2018 18-349544 $393
4859 COLDWATER CANYON AVE #10A SHERMAN OAKS 1 1 657 $388,000 $591 1975 2/27/2018 18-300542 $283
4370 TROOST AVE #201 STUDIO CITY 3 2 1,055 $620,900 $589 1984 6/5/2018 18-351694 $355
12045 GUERIN ST #203 STUDIO CITY 3 3 1,960 $1,150,000 $587 2017 1/20/2018 17-240008 $307
12020 GUERIN ST #104 STUDIO CITY 3 3 1,560 $900,000 $577 2009 4/27/2018 18-324528 $415
4200 LAUREL CANYON BLVD #202 STUDIO CITY 2 2 1,240 $715,000 $577 1964 11/22/2017 17-274624 $350
4170 FAIR AVE #PH7 STUDIO CITY 2 2 1,120 $645,000 $576 2006 11/15/2017 17-275866 $340
4128 WHITSETT AVE #109 STUDIO CITY 2 3 1,050 $604,000 $575 1988 10/27/2017 17-277210 $434
11138 AQUA VISTA ST #49 STUDIO CITY 0 1 551 $315,000 $572 1963 4/11/2018 17-297652 $288
12504 WOODBRIDGE ST #304 STUDIO CITY 2 2 1,491 $845,000 $567 2010 9/21/2018 18-376518 $487
4720 PARK ENCINO LN #120 ENCINO 2 3 2,267 $1,283,285 $566 1982 8/20/2018 18-365666 $1,325
11485 MOORPARK ST #2 STUDIO CITY 2 2 884 $500,000 $566 1988 8/1/2018 18-351184 $218
14014 MILBANK ST #2 SHERMAN OAKS 2 3 1,207 $681,000 $564 1980 6/4/2018 18-329372 $325
12060 HOFFMAN ST #101 STUDIO CITY 2 3 1,166 $657,000 $563 1990 4/6/2019 19-438614 $396
4202 WHITSETT AVE #105 STUDIO CITY 2 2 1,200 $673,000 $561 2007 4/29/2019 19-449360 $479
13250 MOORPARK ST #6 SHERMAN OAKS 2 3 991 $555,000 $560 1995 7/11/2019 19-475264 $325
4128 WHITSETT AVE #203 STUDIO CITY 2 2 1,215 $680,000 $560 1988 5/30/2019 19-461832 $434
11913 LAURELWOOD DR #3 STUDIO CITY 2 3 1,279 $715,000 $559 1986 1/2/2019 18-408046 $387
10618 WOODBRIDGE ST #305 TOLUCA LAKE 2 3 1,440 $805,000 $559 2006 3/28/2018 18-322346 $460
12
SOLD CONDOMINIUM PROPERTIES (CONT).
Criteria: Units located in Toluca Lake, Sherman Oaks, Studio City & Encino, $500+ PSF, sold from 9/13/17 to 9/13/19 Source: MLS, sorted by rice per square foot
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
12603 MOORPARK ST #304 STUDIO CITY 2 2 1,288 $720,000 $559 2001 6/28/2018 18-343716 $500
12026 HOFFMAN ST #301 STUDIO CITY 3 3 1,620 $905,550 $559 2006 8/28/2019 19-489916 $550
12603 MOORPARK ST #307 STUDIO CITY 3 2 1,322 $738,000 $558 2001 9/23/2018 18-370090 $500
4501 CEDROS AVE #315 SHERMAN OAKS 1 1 667 $371,000 $556 1971 12/13/2018 18-404594 $455
4125 W HOOD AVE #102 TOLUCA LAKE 3 3 1,520 $840,000 $553 2005 5/13/2019 19-451046 $250
11640 WOODBRIDGE ST #301 STUDIO CITY 2 2 1,182 $653,000 $552 1978 3/8/2019 19-430640 $497
4832 COLDWATER CANYON AVE #4 SHERMAN OAKS 2 3 1,220 $673,000 $552 2000 3/27/2018 18-313432 $350
4702 PARK ENCINO LN #326 ENCINO 2 2 1,900 $1,048,000 $552 1982 11/27/2018 18-400042 $1,325
4501 CEDROS AVE #233 SHERMAN OAKS 1 1 669 $368,000 $550 1971 10/31/2017 17-267504 $385
15222 1/4 DICKENS ST #1/4 SHERMAN OAKS 2 1 921 $506,000 $549 1948 2/9/2019 19-420654 $384
12067 GUERIN ST #201 STUDIO CITY 2 3 1,383 $750,000 $542 2002 8/29/2018 18-357280 $504
4511 MURIETTA AVE #9 SHERMAN OAKS 2 2 943 $511,000 $542 1986 7/1/2019 19-469082 $395
11155 SUNSHINE TER #101 STUDIO CITY 2 2 1,249 $675,000 $540 1989 5/28/2018 18-318580 $350
4424 WHITSETT AVE #305 STUDIO CITY 2 2 1,370 $740,000 $540 2009 8/15/2018 18-364260 $408
11738 MOORPARK ST #B STUDIO CITY 2 2 1,272 $686,500 $540 1974 5/28/2019 19-453720 $557
14937 DICKENS ST #203 SHERMAN OAKS 2 2 948 $510,000 $538 1987 2/26/2018 18-305796 $367
4524 TUJUNGA AVE #6 STUDIO CITY 1 1 810 $435,000 $537 1978 11/18/2018 18-400618 $340
4342 GENTRY AVE #1 STUDIO CITY 3 3 1,400 $750,000 $536 1971 9/5/2019 19-482034 $298
14960 DICKENS ST #315 SHERMAN OAKS 2 2 1,301 $692,500 $532 1986 10/3/2018 18-372088 $414
12044 HOFFMAN ST #305 STUDIO CITY 3 3 1,552 $826,000 $532 2007 1/11/2018 17-288716 $460
12021 GUERIN ST #203 STUDIO CITY 3 3 1,618 $861,000 $532 2005 7/5/2018 18-337594 $425
11913 LAURELWOOD DR #3 STUDIO CITY 2 3 1,279 $680,000 $532 1986 4/24/2018 18-322900 $387
11507 MOORPARK ST #101 STUDIO CITY 2 2 897 $475,000 $530 1969 7/12/2018 18-346750 $385
12045 GUERIN ST #104 STUDIO CITY 3 3 1,960 $1,035,000 $528 2017 9/26/2017 17-274426 $307
5325 NEWCASTLE AVE #128 ENCINO 0 1 483 $255,000 $528 1971 6/27/2019 19-465050 $261
4400 CARTWRIGHT AVE #302 TOLUCA LAKE 2 2 1,215 $640,000 $527 2002 11/7/2017 17-276708 $430
11635 WOODBRIDGE ST #1 STUDIO CITY 3 3 1,472 $775,000 $526 1985 4/29/2019 19-450482 $430
11138 AQUA VISTA ST #41 STUDIO CITY 2 2 905 $475,000 $525 1963 4/28/2019 19-445958 $369
12416 MOORPARK ST #B STUDIO CITY 3 3 1,598 $837,000 $524 1971 7/2/2018 18-345402 $200
11640 WOODBRIDGE ST #107 STUDIO CITY 2 2 1,167 $610,000 $523 1978 11/21/2018 18-386124 $494
12044 HOFFMAN ST #303 STUDIO CITY 3 3 1,630 $850,000 $521 2007 3/27/2019 19-431572 $499
12938 Valleyheart DR #11 STUDIO CITY 1 1 970 $505,000 $521 1977 12/29/2017 17-294198 $315
11818 MOORPARK ST #O STUDIO CITY 2 2 1,056 $549,000 $520 1974 12/5/2018 18-400560 $545
13
SOLD CONDOMINIUM PROPERTIES (CONT).
Criteria: Units located in Toluca Lake, Sherman Oaks, Studio City & Encino, $500+ PSF, sold from 9/13/17 to 9/13/19 Source: MLS, sorted by rice per square foot
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
11023 FRUITLAND DR #302 STUDIO CITY 2 3 1,300 $675,000 $519 2010 2/13/2019 19-421028 $421
12060 HOFFMAN ST #206 STUDIO CITY 2 2 1,235 $640,000 $518 1990 5/21/2018 18-319820 $375
12837 MOORPARK ST #213 STUDIO CITY 2 2 1,380 $715,000 $518 2009 5/4/2018 18-327012 $461
4400 CARTWRIGHT AVE #202 TOLUCA LAKE 2 2 1,215 $625,500 $515 2002 2/1/2018 17-296152 $430
10926 MOORPARK ST #2 TOLUCA LAKE 2 3 1,147 $589,000 $514 1988 5/29/2019 19-447016 $320
4859 COLDWATER CANYON AVE #14A SHERMAN OAKS 1 1 653 $335,000 $513 1975 10/27/2017 17-276184 $283
14937 DICKENS ST #104 SHERMAN OAKS 2 2 898 $460,000 $512 1987 7/18/2019 19-463142 $332
11138 AQUA VISTA ST #63 STUDIO CITY 2 2 1,048 $535,000 $510 1963 2/28/2019 19-426374 $383
4400 CARTWRIGHT AVE #102 TOLUCA LAKE 2 2 1,215 $620,000 $510 2002 5/21/2018 18-325058 $430
4237 LONGRIDGE AVE #302 STUDIO CITY 3 3 1,460 $745,000 $510 2007 12/18/2018 18-403098 $330
5325 NEWCASTLE AVE #120 ENCINO 1 1 475 $242,000 $509 1971 10/10/2017 17-266360 $238
12021 GUERIN ST #204 STUDIO CITY 3 3 1,608 $819,000 $509 2005 11/10/2017 17-269834 $425
4501 CEDROS AVE #130 SHERMAN OAKS 1 1 698 $355,000 $509 1971 1/15/2019 18-367830 $456
4371 TROOST AVE STUDIO CITY 2 2 1,959 $995,000 $508 2000 9/3/2018 18-357176 $215
4237 LONGRIDGE AVE #101 STUDIO CITY 3 3 1,480 $750,000 $507 2007 8/27/2019 19-469192 $345
11848 MOORPARK ST #B STUDIO CITY 2 3 1,506 $760,000 $505 1974 6/30/2019 19-461346 $557
11306 MOORPARK ST #12 STUDIO CITY 2 2 1,070 $538,000 $503 1988 8/25/2019 19-474800 $325
14
CONDOMINIUM LISTINGS ON THE MARKET
Property Address City Br Ba SF Sale Price $/SF Built List Date MLS HOA
15344 WEDDINGTON ST #208 SHERMAN OAKS 1 1 482 $305,000 $633 1965 9/7/2019 19-505516 $238
13308 VALLEYHEART DR #205 SHERMAN OAKS 2 3 1,280 $749,000 $585 2014 8/3/2019 19-491676 $479
4312 TUJUNGA AVE #5 STUDIO CITY 2 3 1,292 $749,000 $580 2003 8/17/2019 19-491708 $380
4401 SEPULVEDA #106 SHERMAN OAKS 1 1 690 $399,000 $578 1988 8/27/2019 19-494738 $299
4230 COLFAX AVE #304 STUDIO CITY 2 2 1,160 $649,900 $560 1989 8/23/2019 19-499450 $425
11044 ACAMA ST #306 STUDIO CITY 2 2 1,308 $719,000 $550 1991 8/1/2019 19-492194 $434
4784 PARK ENCINO LN #203 ENCINO 2 3 1,985 $1,074,000 $541 1981 8/6/2019 19-491706 $1,325
12044 HOFFMAN ST #302 STUDIO CITY 3 3 1,600 $849,000 $531 2007 8/15/2019 19-497388 $499
4771 PARK ENCINO LN #235 ENCINO 2 3 1,985 $1,039,000 $523 1981 7/22/2019 19-448406 $1,325
4328 GENTRY AVE #4 STUDIO CITY 3 3 1,710 $895,000 $523 2005 8/2/2019 19-492646 $420
Criteria: Units located in Toluca Lake, Sherman Oaks, Studio City & Encino, $500+ PSF, Active as of 9/10/2019 Source: MLS, sorted by rice per square foot
You are solely responsible for independently verifying the information in this Memorandum. Any reliance on it is solely at your own risk.
15
AREA OVERVIEW 3
16
SITE
TOLUCA LAKE
LOCAL AREA MAP
17
TOLUCA LAKEToluca Lake is a neighborhood in the city of Los Angeles, within the city of Los Angeles that is generally situated in the southeast portion of the San Fernando Valley. It is bounded on the south by Universal City, on the west by Studio City, on the north by North Hollywood and on the east by the city of Burbank.
The project is located by downtown Toluca Lake one block from Bob Hope’s estate now owned by Steve Ballmer owner of the Clippers.
UNIVERSAL CITYLocated about 1.5 miles away from Toluca Lake is Universal City. Covering 415 acres, Universal City is home to one of the major film studios and world-famous destination attractions in the U.S.: Universal Studios Hollywood film studio and theme park and the Universal CityWalk shopping and entertainment center.
Tony’s DeliArty’sUmami BurgerAeriloom BakerySimplethingsLemonade Seasonal California CuisineCiaoCristina! Classic Italian FoodTimmy Nolan’s Irish Tavern and GrillMalbec Argentinian CuisineSummer Canteen
Baja FreshThe Coffee Bean & Tea LeafPorto’s Bakery & Cafe BurbankNovo CaféDon Cuco Mexican RestaurantRed Maple Café – Gelato & Coffee BarCasabel RestaurantBob’s Big BoyKabosu Japanese CuisineForman’s Whiskey Tavern
JINYA Ramen BarDog HausThe CounterSharkey’s Woodfired Mexican GrillPatys RestaurantGindi Thai Restaurant and SushiChipotleStarbucks CoffeeRAWkin’ JuiceArde’s Bistro
Area Restaurants Include:
Local Grocery Stores Include:
Trader Joe’s (Walkable)VonsRalphs Fresh Fare Grocery Supermarket
Universal CityWalk Dining
Universal CityWalk Retailers
Cinema
High-tech 18-plex and 7-story IMAX with Laser theatre
18
TOLUCA LAKE AREA RETAIL
SITE
BANK
BANK
BANK
19
HOLLYWOODHollywood is a community within the city of Los Angeles that is generally situated in the southeast portion of the San Fernando Valley. It is bounded by the city of Burbank to the east, the Los Angeles city districts of Sun Valley to the north, Van Nuys to the west, and Studio City to the south. Much of the district is older, relatively modest quality apartments, and middle to lower middle class single family residential development.
20
ENTERTAINMENT INDUSTRYThe area has a high historic concentration of movie and TV production. Warner Brothers, CBS, Universal Studios, and Disney are all located either in Burbank just east of North Hollywood or in Universal City and Studio City just to the south. All are major integrated production studios, located in the area for many decades.As a result of the proximity of these industry anchors—and to Hollywood to the south—the area has long been a center of related entertainment-industry companies. Over the past two decades, entertainment production uses have expanded greatly, reflecting the overall growth of the industry in the region.
21
SITE
Walt Disney Studios (8 minute drive)
Universal Studios (10 minute drive)
CBS Studios (10 minute drive)
Warner Brothers Studios (4 minute drive)
SITE
32
4
1
NEARBY STUDIOS
1
2
3
4
22
TOLUCA LAKE AREA EMPLOYERS
SITE
BURBANK
23
TRANSPORTATIONThe Property benefits from Toluca Lake’s excellent regional transportation access provided by several freeways; the Ventura (U.S. Highway 101) Freeway; the Golden State (Interstate 5) Freeway; and the Hollywood (State Route 170), and Ventura (134) Freeway. Major nearby streets include Laurel Canyon Boulevard, Tujunga Avenue, Lankershim Boulevard, Cahuenga Boulevard, Verdugo Avenue, Barham Boulevard, and Olive Avenue.
Two Metro Rail stations are in the immediate vicinity: At Universal City and in North Hollywood. North Hollywood is the northern most MetroRailstation, located at Lankershim and ChandlerBoulevard. The Metro Rail subway terminates here,extending south, under Lankershim Boulevardto Universal City, then southeast into Hollywoodand to Downtown Los Angeles. The site containsthe portal or entry to the subway, 600+ surfaceparking spaces, and a number of bus lanes.
The Metro Orange Line was opened to the publicon October 29, 2005. The bus line is an expressbus service that utilizes a private transit-wayreserved only for Metro Liner vehicles. The MetroOrange Line extends east from North Hollywoodto Woodland Hills, starting at Lankershim andChandler (across Lankershim from the Metro Railstation).
WESTSIDE
Los
Ange
les
Rive
r
Los Angeles River
PACIFIC OCEAN
CRENSHAW/
PURPLE LINE EXTENSION
REGIONAL CONNECTOR
LAX LINE
LAX
Little To
kyo/
Little To
kyo/
Arts Dist
Universal C
ity/Studio City
Hollywood/V
ine
Hollywood/H
ighland
Universal C
ity/Studio City
Balboa
Canoga
De Soto
Pierce Colle
ge
Tampa
Reseda
Civic Ctr/
Civic Ctr/
Civic Ctr/
Civic Ctr/
GrandGrandGrandGrand
ParkParkParkPark
Westlake/M
acArthur P
ark
Warner Ctr
Roscoe
Pico/Alis
o
Mariach
i Plaza
Long Beach Bl
Artesia
Del Amo
Civic Ctr/
GrandPark
Allen
LakeSierra
Madre Villa
Arcadia
Monrovia
Duarte/City
of Hope
Irwindale
Azusa Downtown
APU/Citrus Colle
ge
Lincoln/Cypress
Heritage Sq
Southwest Museum
Highland Park
Fillmore
Del Mar
Memorial Park
South Pasadena
Westlake/M
acArthur P
ark
Wilshire
/Vermont
Pershing
Chinatown
Union Station
Chinatown
Square
7th St/Metro CtrPico
LATTC/OrthoInstitute
Jefferson/U
SC
Union Station
LAX FlyAwayAmtrak & MetrolinkLAX FlyAway
LAX Shuttle G
Amtrak & MetrolinkMetro
link
Sherman Way
Warner Ctr
Roscoe
Nordhoff
Chatsworth
Hollywood/W
estern
Vermont/S
anta MonicaHolly
wood/Western
Hollywood/V
ine
Hollywood/H
ighlandNorth
Hollywood
Balboa
Woodley
Sepulveda
Van Nuys
Sepulveda
Van Nuys
Woodman
Valley Colle
ge
Laurel Canyo
n
Canoga
De Soto
Pierce Colle
ge
Tampa
Reseda
Vermont/B
everly
Vermont/S
anta Monica
Vermont/S
unset
Vermont/S
unset
Amtrak & Metrolink
Soto
Indiana
Maravilla
East LA Civic C
tr
Atlantic
El Monte
Cal State LA
LAC+USC Medica
l Ctr
Pico/Alis
o
Mariach
i Plaza
Wilshire
/
Normandie
Wilshire
/Western
ExpoPark
/USC
Expo/Vermont
Expo/Western
Expo/Crenshaw
Farmdale
Expo/La Brea
La Cienega/Jefferson
Culver C
ity
Palms
Westwood/R
ancho Park
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
Expo/Sepulveda
Expo/Bundy
26th St/Bergamot
17th St/S
MC
Downtown Santa Monica
Mariposa
El Segundo
Douglas
Redondo Beach
37th St/USC
Rosecrans
Harbor
Carson
Pacific CoastHwy
GatewayTransit Ctr
Long Beach Bl
AvalonVerm
ont/
AthensCrenshaw
Hawthorne/Lennox
Aviation/L
AX
Lakewood Bl
Norwalk
Norwalk
Slauson
Manchester
Harbor F
wy
5th St
1st St
PacificAv
DowntownLong Beach
PacificAv
Washington
Vernon
Slauson
Florence
Firestone
Compton
Artesia
Del Amo
Wardlow
Willow St
Pacific Coast Hwy
Anaheim St
103rd St/
Willowbrook/Rosa Parks
Watts Towers 103rd St/
Willowbrook/Rosa Parks
DowntownLong Beach
Grand/LATTC
San Pedro St
Watts Towers
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SOUTH LA
WESTSIDE
CENTRAL LA
SAN FERNANDO VALLEY
SAN GABRIEL VALLEY
EASTSIDE
SOUTH BAY
San Pedro
GATEWAY CITIES
DOWNTOWNLA
SOUTH LA
CENTRAL LA
North Hollywood to Union Station
Metro Rail
Wilshire/Western to Union StationPurple Line
Blue Line
Expo Line
Orange Line
Amtrak
LAX FlyAway
Metrolink
Metro Busway
Regional Rail
Green Line
Gold Line
Downtown LA to Long Beach
Downtown LA to Santa Monica
Redondo Beach to Norwalk
East Los Angeles to Azusa
Silver Line Chatsworth to North Hollywood
San Pedro to El Monte
amtrak.com
metrolinktrains.com
lawa.org/flyaway
LAX Shuttle (free)lawa.org
Street Service in Downtown LAand San Pedro
MAY 2016 Subject to Change
Airport Shuttle
Rail Station
StationTransfer
Busway
Station
UNDERCONSTRUCTION
Busway StreetService
Red Line
metro.netMetro Rail & Busway
17-0
753
©20
16 L
ACM
TA
OCT 2016 Subject to Change
SITE
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Affiliated Business DisclosureCBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).
Confidentiality AgreementYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.
DISCLAIMERThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.
The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.
© 2019 CBRE, Inc. All Rights Reserved.
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SITELAURIE LUSTIG-BOWERExecutive Vice President+1 310 550 2556laurie.lustig-bower@cbre.com Lic. 00979360
KAMRAN PAYDARVice President+1 310 550 2529kamran.paydar@cbre.com Lic. 01242590
CONTACT
www.Riverside-Drive.com
PERMIT READY / FULLY ENTITLED FOR 12
RESIDENTIAL UNITS
10352 – 58 Riverside Drive Toluca Lake, California
• “Ready To Issue” for Building
Permit and MEP (Mechanical,
Electrical, Plumbing)
• Buyer Can Avoid $240,000
New Homeless Mitigation Fee
by Obtaining Building Permit
Before 12/3/19
• Former Structures Have Been
Demolished
• Park Fees Paid
• Tract Map Issued Prior to Close
of Escrow
Bids Due: Friday, October 18, 2019 by 5:00 PM
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