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The Development Brokers12400 Ventura Blvd. #606
Studio City, CA 91604818.985.9700 Phone818.985.9703 Fax
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
Entitled 74-Unit Development Site
This brochure has been prepared to provide summary, unverified information to interested parties, and to establish only a preliminary level of interest in the subject development opportunity.
The information contained in this brochure have been obtained from sources we believe to be reliable; however, Evanisko Realty & Investment, Inc. has not verified, and will not verify, any of the information contained herein, nor has Evanisko Realty & Investment, Inc. conducted any investigation regarding theses matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All interested parties must take appropriate measures to verify all of the information set forth herein.
Please contact Evanisko Realty & Investment, Inc. for additionalinformation/guidance pertaining to this opportunity. (818) 985-9700
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Disclosure
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
Page 4: Site PhotosPage 5: Project Summary
Page 6: Finished Apartment Asset ValuationPage 7: Aerial
Page 8: Site LocationPage 9: Parcel MapPage 10: Zoning
Page 11: Apartment Scenario – RenderingsPage 12: Apartment Scenario – Site Plan
Page 13: Apartment Scenario – Construction Cost EstimatePage 14: Condo Scenario – Tract Map
Page 15: Via VincennesPage 16: Via Vincennes Rent RollPage 17: Via Vincennes Rent Roll
Page 18: Plan Viewing Instructions – Apts.Page 19: Plan Viewing Instructions - Condo
Page 20: Transaction SummaryPage 21: Broker Information
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Table of Contents
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Site Photos
4
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Project Summary
Tobias Terrace is a fully entitled multifamily development opportunity with the appropriate architectural plans and full MEP plans for both apartment and condo build-out scenarios. Instructions on how to access plans, reports, and entitlement documentation online for both build-out scenarios are included on PAGES 18, 19 of this brochure.
• 74 Apartment units: (includes 19 low-income units) with 143 parking spaces in one level on-grade garage.
• 54 Condominium Units: VTTM 64006 (all market rate) with 143 parking spaces in one level on-grade garage.
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
• Site Address:• 9256 Tobias Ave.• 9247-9357 Van Nuys Blvd.
• APN: 2651-009-001, 003, 004 [All vacant parcels]
• Zoning: (T)(Q) R3 -1, (T)(Q) RD1.5-1, RA-1
• Community Redevelopment Agency (CRA): Pacoima / Panorama City• Project Manager: Duran Villegas, [[email protected]]
• Council District: CD 7 – Richard Alarcon • Planning Deputy: Dan Rosales, Jr. [[email protected]]
• Land Area: 57,063 SF (1.31 Acres)
• Entitlements: Zone Change, VTT 64006 – 54 units
• Price: $3,200,000 ($43,243/Door based on 74-unit scenario)
5
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Finished Apartment Asset Valuation
$14,064,2716.5 CAPEnd Value
$13,543,3726.75 CAP
$13,059,6807.00 CAP
24.95% of GSI(345,078)OP EXP
914,178NET OP INC
1,259,255GROSS OP
8,540Misc.
1,323,665GROSS
5% of GSI(64,409)VAC
26,936Laundry
1.561,288,189107,3491,45174
Manager Unit1 low
1.2646,9803,9151,3051,036233 low
1.15156,77413,0651,0899482212 low
1.4734,8182,902967657113 low
1.77444,60037,0501,9501,1,012319
1.60342,14428,5121,5849892218
1.59262,87221,9061,2177651118
$/SFAnnual Rental Income
Monthly Income
Proforma Rent*Approx SFBathBed# of
Units
Unit Breakdown
6
* Proforma rents based on actual rents in Villa Vincennes – an 80 unit apartment complex completed in 2009 by the same owner as subject property one block north of subject property.
Current verifiable rent roll for Villa Vincennes contained herein PAGE 16, 17.
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Aerial
7
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
Tupper St.
Van
Nuy
s B
lvd.
Tobi
as S
t.
210’
105’
342’
181’
161’
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Site Location
8
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Parcel Map
9
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Zoning
10
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Apt. Construction Cost Est.
13
*Con
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ontra
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Landowner recently completed the construction of an 80-unit apartment community one block to the north (also fronting Van Nuys Blvd). The project was completed in May of 2009 and is currently 85% leased. Aesthetically, Villa Vincennes appears
similar to Tobias Terrace although was built to a greater density (80 units on 47,476.3 SF land) and therefore required subterranean parking. Ownership will
consider combining units and converting Villa Vincennes to condominiums when the market permits as the property holds a tract map for 59 units. A current rent roll for
Villa Vincennes can be found on the following two pages.
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Villa Vincennes
15
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Plan Viewing Instructions – Apts.
18
Blair Graphics PlanWell Guest Access Information
1. Access the Blair Graphics PlanWell Home Page by going to www.blairgfx.com , and clicking on PlanWell Enterprise (Left side Menu).
2. In the PlanWell Home Page under “Guest Access” type the Project Number and Password (Case sensitive).
(All Project Numbers begin with the prefix “BG00” example, BG00_MY PROJECT )
• Project Number: BG00_TOBIAS APARTMENTS • Password: TOBIAS
3. You can select by sheet, by discipline, or the whole issue, just by adding it to your shopping cart.
4. You can also view the drawings by clicking on the sheet number.
5. When you are ready to place your order click “PRINT ORDER” (Upper Right of Screen).
6. The “Customer Login” screen will appear. You will be asked for your “User ID & Password”. If you do not have one, click the “Credit Card” option, complete the information, and submit it. If you have an account with Blair Graphics please e-mail [email protected] for your user name. (Note: you will not be asked for your credit card number until the end of the order process)
If you have any questions, please contact us at (310)829-4621 and we can walk you through the ordering process.
Thank you, Blair Graphics PlanWell Department (310)829-4621 [email protected]
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Plan Viewing Instructions - Condo
19
Blair Graphics PlanWell Guest Access Information
1. Access the Blair Graphics PlanWell Home Page by going to www.blairgfx.com , and clicking on PlanWell Enterprise (Left side Menu).
2. In the PlanWell Home Page under “Guest Access” type the Project Number and Password (Case sensitive).
(All Project Numbers begin with the prefix “BG00” example, BG00_MY PROJECT )
• Project Number: BG00_TOBIAS CONDO • Password: TCONDO
3. You can select by sheet, by discipline, or the whole issue, just by adding it to your shopping cart.
4. You can also view the drawings by clicking on the sheet number.
5. When you are ready to place your order click “PRINT ORDER” (Upper Right of Screen).
6. The “Customer Login” screen will appear. You will be asked for your “User ID & Password”. If you do not have one, click the “Credit Card” option, complete the information, and submit it. If you have an account with Blair Graphics please e-mail [email protected] for your user name. (Note: you will not be asked for your credit card number until the end of the order process)
If you have any questions, please contact us at (310)829-4621 and we can walk you through the ordering process.
Thank you, Blair Graphics PlanWell Department (310)829-4621 [email protected]
Property: Tobias Terrace is a fully entitled multifamily development opportunity with the appropriate plans and engineering for two possible build-out scenarios. Please contact broker for instructions on how to access plans, reports, and entitlement documentation online for both build-out scenarios.
• 74 Apartment units: (includes 19 low-income units) with 143 parking spaces in one level on-grade garage. • 54 Condominium Units: VTTM 64006 (all market rate) with 143 parking spaces in one level on-grade garage.
Site Address:• 9256 Tobias Ave.• 9247-9357 Van Nuys Blvd.
Landowner: Southbrook Equities, LLC
Deal Structure: 21 day DD/COE TBD
SUBMIT ALL PROPOSALS/IQUIRIES TO: Evanisko Realty & Investment, Inc.
ALL PROPOSALS WILL BE REVIEWED BY LANDOWNER AND BROKER AS RECIEVED
Commission: 2.5% to cooperating broker
For additional information/guidance on this and other development opportunities contact: Evanisko Realty & Investment, Inc. (818) 985-9700
[email protected]@evaniskorealty.comwww.TheDevleopmentBrokers.com
Multifamily Development Opportunity9246 Tobias Ave
Panorama City, CA 91402
www.EvaniskoRealty.com
Transaction Details12400 Ventura Blvd. #606
Studio City, CA 91604818.985.9700 Phone818.985.9703 Fax 20