CAHUENGA BOULEVARDWESTLOS ANGELES, CA 90068
Stacy Vierheilig-FraserSenior Managing DirectorLic. # 00986794
[email protected] 818.455.8201Office 818.455.8200
FOR MORE INFORMATION, PLEASE CONTACT:
OFFICE BUILDING FOR SALE
• Suites individually metered• Parabolic lighting• Maple floors• Elevator• Secured building
HIGHLIGHTS
Address 3255 Cahuenga Boulevard West, Los Angeles, CA 90068
Parcel Number 2429-010-034
Building Size Approx. 19,394 SF (per Title)Three stories
Land Size Approx. 11,377.872 SF
Terms All Cash or Cash to New Loan
Zoning LAC2
ParkingApprox. 38 spaces (Some covered/secured and surface covered)
Year Built 1980 (Fully renovated in 2006)
DETAILS
PROPERTY HIGHLIGHTS & DETAILS
TAX MAP
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JNL $1,870.75 1,070
US Legal $5,450.00 3,453
Yummy Foods $4,000.00 2,134
World Acceptance $4,240.80 2,232
FLOOR AMOUNT SF
Group 6 $2,625.00 1,500
Ripe Media $3,335.60 1,905
Pike FX $1,355.50 800
Natasha $1,200.00 650
Legal Brau $1,280.00 800
FINANCIAL DETAILS
Purchase Price: $6,375,000.00
Projected Income ($2.00 MG): - 3% vacancy
$465,456.00($13,963.68)
Adjusted Income- Expenses:Taxes @ 1.1% :
$451,492.32($46,176.00)($70,125.00)
NOI: $335,191.32
CAP Rate: 5.26%
Insurance $705.00
DWP $950.00 - $1,100.00
Phone $72.00
Elevator $175.00
Trash $171.00
Janitorial $660.00
Management $800.00
Internet $120.00
Gardener $120.00
RENT ROLL
MONTHLY EXPENSES
PRICINGYSK $4,694.33 2,830
Secure Data $1,710.00 900
First Floor
Second Floor
Third Floor
$31,761.48 18,274
These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty, or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease, sale, change in price, or withdrawal from the market without notice.
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COMPARABLES
Address RBA Price/SF
1 315 Arden Avenue 26,560 SF $348.27
2 431 North Brand Boulevard 24,183 SF $413.51
3 11311 Camarillo Street 18,774 SF $406.67
4 2721 West Magnolia Boulevard 13,928 SF $337.45
5 2740 West Magnolia Boulevard 19,732 SF $369.96
6 4323 Riverside Drive 30,000 SF $476.67
7 13412 Ventura Boulevard 19,496 SF $369.31
8 40 East Verdugo Avenue 24,475 SF $408.58
3255 CAHUENGA BOULEVARD WEST
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AMENITIESMAP
ARCO
CorePower Yoga
El Paseo De Cahuenga Park
GC Marketplace
Hilton Los Angeles
In N Out Burger
Joe’s Falafel
LA Fitness
Lofts in Los Angeles
Mercado Restaurant
Panda Express
Sheraton Universal
Southern California Golf Association
Starbucks
Theater West
Tilt Hotel Universal Hollywood
Universal City Nissan
Universal Gas & Mart
Universal Studios Hollywood
Veggie House
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AERIAL MAPS
CAHUENGA BOULE
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HOLLYWOOD FREEWAY
BENNETT DRIVE
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AERIAL MAPS
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FLOOR PLANS FIRST FLOOR
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FLOOR PLANS SECOND FLOOR
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FLOOR PLANS THIRD FLOOR
RearFront
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PROPERTY IMAGES
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MARKET OVERVIEW: LOS ANGELES COUNTY
The County of Los Angeles, whose 4,083 square miles span a variety of landscapes, consists of 88 cities, 140 unincorporated communities, and two islands: San
Clemente Island and Santa Catalina Island. Known for its coastal communities along 70 miles of Pacific Ocean as well as for its eastern county farmland, national and
state parks, major rivers, deserts, and mountain ranges, the county is as geographically diverse as its population.
The county seat (also the largest city by population and land area), Los Angeles, boasts a population of over 3.8 million and lends its name to the county. With
a population of over 10 million residents which is steadily increasing, LA County’s job growth in burgeoning industries such as entertainment, technology, and
e-commerce continues to attract residents to its metropolitan hubs despite its higher cost of living. Multifamily markets across the county are highly active, with nearly
half of residents spending 30% or more of their income on housing. The demand for housing in metro areas has spurred increased activity in retail markets as well,
with higher densities of Los Angeles County residents driving up demand for local amenities.
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MARKET OVERVIEW: LOS ANGELES COUNTY
LA County is among the world’s 20 largest economies with a
GDP of $583.9 billion. More than ten million residents are served
by the largest local government in the nation, which employs
100,000 people and administrates a $26.9 billion budget in 2015.
The county is home to the biggest players in the entertainment
industry, with six major film studios (Columbia Tri-Star Motion,
Dream Works, Paramount Pictures, Sony Pictures Entertainment,
Walt Disney Co and Warner Bros Studio) housed within its borders.
The Ports of Long Beach and Los Angeles--the busiest ports in
the nation and the fourth largest by trade volume—contribute to
the county's prominent manufacturing and international trade.
In 2014, the Los Angeles County Economic Development Corporation (LAEDC) reported that the value of two-way trade increased to a new record high of $416.6 billion, with China, Japan, South Korea, Taiwan and Vietnam listed as its top trade partners.
SNAPSHOT ECONOMYAs the largest and most ethnically diverse county in the United States, the county of Los Angeles has a larger population than 42 US states. With approximately 27% of California’s residents within its borders, it is extremely diverse and represents more than 140 cultures and as many as 224 languages.
ETHNIC COMPOSITION
WHITE OTHER ASIAN BLACK OR AFRICAN AMERICAN
Population Size (2015) 10,185,550
Total Land Area 4,083 square miles
Median Income $56,404
Median Age 35.5 years
Education, ages 25+
No High School Diploma 23.1% Some College 19.6%
High School Graduate 20.4% Some College + 36.9%
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LIFE DYNAMIC OF LOS ANGELES COUNTY RESIDENTS
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TRANSPORTATION
AIRPORTS
The county’s main airport, Los Angeles International Airport (LAX), is the sixth largest airport in the US. In 2014, LAX served
approximately 70.6 million passengers and handled over 2 million tons of air cargo valued at over $91.6 billion. It ranks fifth
nationwide in air cargo tonnage processed. The county’s other commercial airports are Long Beach Municipal Airport, Bob Hope
Airport (Burbank), Ontario International Airport, and Palmdale Regional Airport.
SEAPORTS
The Ports of Los Angeles and Long Beach play major roles in the nation’s trade industry. The Port of Los Angeles features 24
passenger and cargo terminals and is responsible for billions of dollars in cargo annually. The Port of Long Beach is the second
busiest port in the US and its cargo is valued at $180 billion annually, handling a quarter of all cargo moving through west coast
ports, and nearly 20% of all cargo nationwide.
TRAIN STATIONS
Located in Downtown Los Angeles, Union Station is the principal railway station in Los Angeles County. It is the largest railroad
passenger terminal in the Western US and serves as the regional train station for Amtrak, Metrolink, and Metro Rail. Additionally,
Los Angeles is a major freight rail hub due to the high volume of imported freight entering through the county’s ports.
FREEWAYS
Los Angeles is served by one of the most extensive freeway networks in the United States, due to the county’s major military
presence during World War II and the rapid suburban expansion thereafter. Primary Interstate freeways include the I-10, I-5, I-405,
I-210, I-605, I-710 and U.S. Route 101; primary local freeways include the 170, 134, 110, 91, 90, and 60.
PUBLIC TRANSPORTATION
The primary regional public transportation agency is the Los Angeles County Metropolitan Transportation Authority (LACMTA),
commonly referred to as Metro or MTA. The agency, which operates bus, light rail and subway services, averages 1.45 million
transit trips per weekday, making it the third largest transit agency in the United States. Several municipal bus systems run
throughout the county.
LACMTA’s Metro Rail has 73 miles of rail and is the fastest-growing transit system in Los Angeles. Ranked by daily ridership, the
Los Angeles subway is the ninth-busiest rapid transit system in the United States. Its current projects include the expansion of the
Purple line from Mid-Wilshire to Westwood, and the Expo Line from Culver City to Santa Monica.
The Los Angeles County Metropolitan
Transportation Authority, or Metro, is the
county agency which plans and coordinates
transportation as well as designs, builds, and
operates transportation networks throughout
the area. It is primarily known for its Metro
Rail, Metrolink, and Metro Liner (bus) transit
systems which serve LA County and extend
into other areas of California.
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Stacy Vierheilig-FraserSenior Managing DirectorLic. # 00986794
[email protected] 818.455.8201Office 818.455.8200
These materials are based on information and content provided by others which we believe are accurate. No guarantee, warranty or representation is made by the Charles Dunn Company or its personnel, and all interested parties must independently verify its accuracy and completeness. As well, any projections, assumptions, opinion, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful investigation of the property and its suitability for your needs, including zoning, land use limitations and square footage calculations. The property is subject to prior lease, sale, change in price, or withdrawal from the market without notice.
CAHUENGA BOULEVARDWESTLOS ANGELES, CA 90068
