Evanisko Realty & Investment, Inc. BRE: 01383591

Vesper Avenue Homes 24 Small Lot Development Site

Extremely rare 1.47 acre flat vacant site with a highly visible 290 feet of project street frontage.

Opportunity to immediately acquire and begin construction on attractive quantity of entry-level

detached single family homes at a location with increasing end-buyer demand and diminishing

availability of sites.

Just steps from Van Nuys Blvd. which is slated for massive public transit improvements and

transformative mixed use development.

Turn-key entitlement status. Close escrow and begin construction.

Savello & Associates cost to complete estimate for all land development and remaining fees.

Exclusive Land Broker: Frank Evanisko

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Table of Contents

This brochure is organized into four sections for the purpose of

efficiently conveying the real estate, entitlement parameters,

financial viability, and submission guidelines for the development

opportunity being offered for sale.

Pages 3-8

Outlines the basic site specifications including dimensions, zoning, and

existing improvements. In this instance, the site is being offered for sale

as a vacant, entitled SLO development site.

Pages 9-17

Outlines the entitlement, design, and product specifications for the

development as well as the contents of the full Entitlement and Plans

Package which is currently available upon request.

Pages 18-27

Outlines and reviews applicable market activity and transactional data to

support the financial viability of the development project being offered.

Pages 28-31

Outlines deadlines and further instructions for submitting purchase

proposals. OFFER DEADLINE JULY 12, 2017.

2 Vesper Avenue Homes 24 Small Lot Development Site

The

Site /

3 Vesper Avenue Homes 24 Small Lot Development Site

The Site / Aerial Photo [6-2-17]

9761-9763 Vesper Ave.

Panorama City, CA 91402

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64,200 SF [1.47 acre] development site zoned (T)(Q)RD2-1.

Address: 9761-9763 Vesper Ave. Panorama City [City of LA], CA 91402

APN: 2650-019-024

Site will be delivered clear

Vesper Avenue Homes 24 Small Lot Development Site

The Site / Aerial Photo With Superimposed 3D Project Model

9761-9763 Vesper Ave.

Panorama City, CA 91402

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64,200 SF [1.47 acre] development site zoned (T)(Q)RD2-1.

Address: 9761-9763 Vesper Ave. Panorama City [City of LA], CA 91402

APN: 2650-019-024

Site will be delivered clear

Vesper Avenue Homes 24 Small Lot Development Site

The Site / Plat Map

A part of current APN but not a part of the

development site and not a part of the sale. Upon

recordation of final map, will be deeded back to

Seller.

The subject site being offered for sale.

64,200 SF of land. Approx. 1.47 acres.

6 Vesper Avenue Homes 24 Small Lot Development Site

The Site / Location

The Site is located at the northerly portion of the City of Los Angeles in the East

San Fernando Valley.

Future homes will afford residents with efficient access to all parts of Los Angeles

with immediate entrance to nearly all North/South bound Los Angeles Freeways and

public transportation.

The Site is located steps from Van Nuys Blvd. which is slated for major North/South

Metro Transit line servicing. DESIGNATED WITH DOTTED BLUE LINE. This

particular Metro project website below:

https://www.metro.net/projects/east-sfv/

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ICON @ PANORAMA CITY

Vesper Avenue Homes

Vesper Avenue Homes 24 Small Lot Development Site

The Site / Location

The Site is located within direct walking

distance to a number of shopping options

while still maintaining a quiet and secluded

neighborhood feel.

V

8 Vesper Avenue Homes 24 Small Lot Development Site

The

Development

//

9 Vesper Avenue Homes 24 Small Lot Development Site

The Development // Rendering

10 Vesper Avenue Homes 24 Small Lot Development Site

The northern San Fernando Valley has typically afforded developers and builders with (at least

by Los Angeles’ standards) a reasonable quantity of lower-density opportunities to entitle and

build economically accessible new homes through the processing of a “conforming” zone

change action to bring agriculturally zoned properties to their intended land use designation.

However, the passage of JJJ will eliminate the economic viability of processing these forms of

zone changes. Additionally, new laws such as the Linkage Fee Ordinance will have a profound

effect on the economic viability of entitling for similar end product by imposing a new $12/FT fee

on similar developments (this fee alone would have equated to roughly $450,000 for this

development). Lastly, recently adopted modifications to the SLO ordinance would have reduced

yield by about five homes. As a result of the abundance of new and highly restrictive

legislation, the next several years will produce an economic housing landscape in which a

severely limited quantity of new available product will lead to significant upward pressure

on new home prices – especially in the North San Fernando Valley where most highly

underutilized sites would require a zone change mechanism.

**The entitlements for the subject site included a General Plan

Amendment concurrent with Zone Change and Vesting Tentative Map

all vested and approved prior to the passage of JJJ. This entitlement

in today’s legislative climate would be irreplaceable.

The Development // JJJ and Other Legislation – Market Implications

11 Vesper Avenue Homes 24 Small Lot Development Site

Entitlements: Approved GPA/ZC/VTT

Building Permit: Ready to Issue at Close of Escrow

Final Map: Buyer to record during construction

Vesper Avenue Homes will offer a builder the opportunity

to acquire entitled land and immediately commence

construction of a favorable quantity of detached two story

entry-level single family homes.

The Development // Entitlement and Permit Status

12 Vesper Avenue Homes 24 Small Lot Development Site

The Development // Site Plan

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The Development // The Product

Average Home Size: 1,537 SF

Total Project Salable SF: 36,884 SF

All homes have side-by-side two car garages

Well executed and located entry-level home product

Building separations range from 7’ to 10’ 16’ wide 2-car garages

+ 11 guest parking stalls

Product Size Variations

[From Architectural Plans]

Plan A [4 Homes]: 1,416 SF

Plan A ALT [4 Homes]: 1,517 SF

Plan B [16 Homes]: 1,572 SF

14 Vesper Avenue Homes 24 Small Lot Development Site

* Rendering above from similar development but not an exact depiction of actual product.

SF’s From

Architectural Plans

Plan A

3 Bed 2.5 Bath

[4 Homes]

Plan A [ALT]

3 Bed 2.5 Bath

[4 Homes]

Plan B

4 Bed 2.5 Bath

[16 Homes]

1st Floor 471 500 559

2nd Floor 945 1017 1013

Total Salable 1,416 1,517 1,572

Garage 400 400 415

The Development // Square Footages

Average Home Size: 1,537 SF

Total Project Salable SF: 36,884 SF

15 Vesper Avenue Homes 24 Small Lot Development Site

1. Preliminary Title Report: First American

2. All Entitlement Approvals/Determinations [GPA/ZC/VTT]: City of Los Angeles

3. Land Development and Offsite Cost Estimate: Savello & Associates, Inc.

4. Next Buyer Analysis Proforma

5. Plans: Full Submittal Set:

A. Architectural - Ken Stockton Architect, Inc.

B. Structural - RGF Engineering, Inc.

C. Civil - Offsite, Grading, Utility – Forma Engineering, Inc.

D. Landscape – Susan McEowen

E. Third Party Reports – Geo, Topo, Enviro, ALTA, Tree

Comprehensive Project Documents Provided

Upon Request.

The Development // Full Documents Set

16 Vesper Avenue Homes 24 Small Lot Development Site

The Development // Principal Confidentiality Agreement

Please return this signed Confidentiality Agreement for access to the Due Diligence

Package listed on previous page.

The undersigned has been advised that Evanisko Realty & Investment, Inc. (the “Broker”) has been

retained on an exclusive basis by BCG Vesper Homes, LLC (the “Owner”) with respect to the offering

for sale of an entitled 24 lot single family development site in Los Angeles, CA (the “Property”). The

Owner has indicated that all inquiries and communications with respect to the contemplated

investment in an acquisition of such property be directed to the Broker. The undersigned is a

principal in connection with the possible acquisition of the Property.

The Broker has available for your review certain information (“Confidential Information”) concerning

acquisition of the Property. On behalf of the Owner, Broker makes such Confidential Information

available to the undersigned upon execution of this Confidentiality Statement. The Confidential

Information is intended solely for your own limited use in considering whether to pursue acquisition of

the Property. This is not an agreement to sell the Property or an offer of sales. No agreement shall

be binding upon the Owner of the Property, or any of its associated or affiliated companies, nor shall

any agreement be deemed to exist, at law or equity, until the Owner of the Property enters into a

formal and final binding written agreement regarding acquisition of the Property.

By executing this Confidentiality Agreement you agree that the Confidential Information provided is

confidential, that you will hold and treat it in the strictest confidence, and that you will not disclose or

permit anyone else to disclose the Confidential Information to any person, firm or entity without prior

written authorization of the Owner and the Broker, except that the information may be disclosed to

your partners, employees, legal counsel and lenders or pursuant to a court order. Additionally you

agree to not to disclose your receipt of the Confidential Information, your interest in purchasing the

property and/or the terms or conditions of any offer(s) you make to purchase the Property, or take

any other action that could adversely effect the potential development of the Property. Owner

expressly reserves the right in its sole discretion to reject ay or all proposals or expressions of

interest in the Property and to terminate discussions with any party at any time with or without notice.

Accepted and Agreed [Date] ______________________ Signature _________________________

Name [Print] ___________________________________ Company ________________________

Address ____________________________ City __________ State _________ Zip __________

Phone ________________ Office _________________ Email ____________________________

17 Vesper Avenue Homes 24 Small Lot Development Site

The

Market

///

18 Vesper Avenue Homes 24 Small Lot Development Site

The Market /// Pertinent New Const. Market Activity

1 Lemona Village 9223-9251 Lemona Ave.

North Hills, CA 91343

Product: 33 detached 2-Story condominium homes

Status: Under Construction/Models Completed

Size Range: Approx. 1,850-1,950 SF

Pricing: Approx. $550,000 - $580,000

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19 Vesper Avenue Homes

2 The Heritage Collection 15207 Saticoy St.

Van Nuys, CA 91405

Product: 73 Detached 2-Story SLO Homes

Status: Sold Out 2016

Size Range: Approx 1,489 SF

Pricing: Approx. $525,000

* Ken Stockton Architect

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The Market /// Pertinent New Const. Market Activity

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3

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Vesper Avenue Homes

3 Walnut Village 14858 Nordhoff St.

Panorama City, CA 91343

Product: 57 detached 3-Story SLO homes

Status: Completed/Homes For Sale

Size Range: Approx. 1,540-1,630 SF

Pricing: Approx. $450,000 - $462,000

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The Market /// Pertinent New Const. Market Activity

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3

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Vesper Avenue Homes

4 Tupper Estates 15719 Tupper St.

North Hills, CA 91343

Product: 19 Detached SFR

Status: Under Construction/Homes For Sale

Size Range: 2,481 - 3,212 SF

Pricing: Approx. $695,000 - $850,000

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The Market /// Pertinent New Const. Market Activity

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3

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Vesper Avenue Homes

5 Oak Pointe 15719 Tupper St.

North Hills, CA 91343

Product: 73 Detached SFR [Under SLO Ordinance]

Status: Under Construction

Size Range: 2,427 - 3,478 SF

Pricing: Approx. $677,990 - $839,990

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The Market /// Pertinent New Const. Market Activity

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Vesper Avenue Homes

6 Noble 6 8601 Noble Ave.

North Hills, CA 91343

Product: 6 Detached 2-Story Condominium Homes

Status: Just Sold

Size Range: 1,940 - 2,559 SF

Pricing: Approx. $567,000 - $585,000

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The Market /// Pertinent New Const. Market Activity

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Vesper Avenue Homes

7 The Cabrito Collection 12385 San Fernando Rd.

Sylmar, CA 91342

Product: 84 Detached 2-Story SLO Homes

Status: For Sale

Size Range: Approx 1,494 SF

Pricing: Approx. $482,900

* Ken Stockton Architect

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The Market /// Pertinent New Const. Market Activity

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Vesper Avenue Homes

The Market /// Game-Changing Panorama Developments

Panorama City and the northern SFV [City of Los Angeles], especially along the Van Nuys and

Sepulveda corridors are quickly becoming the focus of considerable revitalization. This is likely

due to news of significant impending transportation infrastructure improvements and major new

retail developments along these corridors. Major mixed-use developments at the corner of

Roscoe and Van Nuys Blvd. will undoubtedly promote a positive influential growth trajectory on

the value of residential real estate in the surrounding neighborhoods.

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1. The ICON @ Panorama City [Pictured Above]: Once the home of Montgomery Ward, the 18

acre site is now slated to receive 423 apartment units and 200,000 SF of retail and restaurant

space. Construction to commence late 2017 and complete in 2019.

2. Panorama Mall [NWC Van Nuys and Roscoe Blvd.]: The 150,000 SF mall was recently

acquired in late 2105 by Primestor. The mall will likely receive major renovations.

3. 8155 Van Nuys Blvd.: Developer Izek Shomof is in the midst of completing renovations on the

13 story office tower at the corner of Van Nuys Blvd. and Roscoe Blvd. into 192 live-work units

and outdoor mall concept.

Vesper Avenue Homes 24 Small Lot Development Site

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ICON @ PANORAMA CITY

The Market /// Game-Changing Panorama Developments

Vesper Avenue Homes

Vesper Avenue Homes 24 Small Lot Development Site

Offering

Guidelines

////

28 Vesper Avenue Homes 24 Small Lot Development Site

Transaction Structure: Seller will allow 21 days for buyer to conduct their due diligence after which the

initial deposit will become non-refundable. Escrow closing to occur within 30 days following expiration of

Buyer’s due diligence period.

Price: $4,790,000 [Price to include architectural and engineering documents.]

Submit Offers To: frank@evaniskorealty.com

Buyer’s offer should include (i) Buyer’s assumption as to revenue projections per plan, on-site and

off-site construction cost estimates, costs per square foot to complete horizontal development

work and city impact fees, and (ii) Buyer’s relevant experience and financial wherewithal and its

intended equity and debt sources for completing the transaction.

Bid Submission Deadline: July 12, 2017

Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by the owner to manage the

marketing and disposition of this land asset.

Contact Frank Evanisko

(818) 985-9700

The information contained in this brochure has 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.

No representation or warranty, expressed or implied, is made by Evanisko Realty & Investment, Inc. or seller. Seller

may reject any or all expressions of interest and/or terminate discussions with any party at any time, for any reason,

with or without notice. No legal commitment or obligation of seller is made unless a written agreement for the

purchase has been fully executed, delivered and approved by seller.

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Offering Guidelines //// Acquisition Terms

Vesper Avenue Homes

Exclusive Listing Broker:

Evanisko Realty & Investment, Inc.

BRE 01383591

Frank Evanisko

(818) 985-9700

frank@evaniskorealty.com

www.TheDevelopmentBrokers.com

Evanisko Realty & Investment, Inc. was

founded in 2004 with the mission of providing an

unparalleled level of brokerage service to owners

of urban infill real estate slated for various forms of

redevelopment.

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Offering Guidelines //// Listing Broker Contact Information

Vesper Avenue Homes 24 Small Lot Development Site

Offering Guidelines //// Principal Confidentiality Agreement

Please return this signed Confidentiality Agreement for access to the Due Diligence

Package items including full plans submittal set.

The undersigned has been advised that Evanisko Realty & Investment, Inc. (the “Broker”) has been

retained on an exclusive basis by BCG Vesper Homes, LLC (the “Owner”) with respect to the offering

for sale of an entitled 24 lot single family development site in Los Angeles, CA (the “Property”). The

Owner has indicated that all inquiries and communications with respect to the contemplated

investment in an acquisition of such property be directed to the Broker. The undersigned is a

principal in connection with the possible acquisition of the Property.

The Broker has available for your review certain information (“Confidential Information”) concerning

acquisition of the Property. On behalf of the Owner, Broker makes such Confidential Information

available to the undersigned upon execution of this Confidentiality Statement. The Confidential

Information is intended solely for your own limited use in considering whether to pursue acquisition of

the Property. This is not an agreement to sell the Property or an offer of sales. No agreement shall

be binding upon the Owner of the Property, or any of its associated or affiliated companies, nor shall

any agreement be deemed to exist, at law or equity, until the Owner of the Property enters into a

formal and final binding written agreement regarding acquisition of the Property.

By executing this Confidentiality Agreement you agree that the Confidential Information provided is

confidential, that you will hold and treat it in the strictest confidence, and that you will not disclose or

permit anyone else to disclose the Confidential Information to any person, firm or entity without prior

written authorization of the Owner and the Broker, except that the information may be disclosed to

your partners, employees, legal counsel and lenders or pursuant to a court order. Additionally you

agree to not to disclose your receipt of the Confidential Information, your interest in purchasing the

property and/or the terms or conditions of any offer(s) you make to purchase the Property, or take

any other action that could adversely effect the potential development of the Property. Owner

expressly reserves the right in its sole discretion to reject ay or all proposals or expressions of

interest in the Property and to terminate discussions with any party at any time with or without notice.

Accepted and Agreed [Date] ______________________ Signature _________________________

Name [Print] ___________________________________ Company ________________________

Address ____________________________ City __________ State _________ Zip __________

Phone ________________ Office _________________ Email ____________________________

31 Vesper Avenue Homes