6821VICTORIA AVE
EXECUTIVE SUMMARYWe are pleased to offer for sale a freestanding industrial property located at 6821-6815 S. Victoria avenue in Los Angeles. It was built in 1946 as an electrical components factory by entrepreneur Jack Stern.The property is comprised of an existing 8000 sq ft industrial building built in 1946 over a 22669 sqft level lot zoned MR1 and provides the opportunity to build up to 10000sqft of additional industrial building based on the current restrictions. This redevelopment opportunity is located in South Los Angeles within close proximity to the the new Hollywood park development. The redevelopment is planned to add the new 80,000 seats RAM stadium, a mixed usedevelopment that will bring 3,000 units of housing, 620,000 square feet of retail space, aluxury hotel, and a revamped Hollywood Park Casino over a 238 acres property.The City is also investing in the area through several public works projects, such as theFlorence avenue repavement and landscaping, and the redondo blvd pedestrian walk withparking. These public projects will provide momentum for streetscape improvements anddistrict development.
The site is conveniently located adjacent to Inglewood between the 405 and 110 highways, both accessible within a 8 minutes drive. Inglewood Santa monica and Downtown Los angeles are both accessible within 30 minutes from the premise. The site is located one block from the Florence ave and Crenshaw blvd cross street which carries a significant traffic volume. LAX is accessible in 12 minutes.The project site is within a short walking distance of subway stations and regional masstransit. Only 1000 feet from the future Fairview Height metro station due to open in 2019(Crenshaw/ LAX line).Two bus stations are within one block from the property on crenshaw blvd and Florenceavenue. The site offers frontage with ingress and egress on victoria avenue. The Los angeles county permanent parcel number is 4006 023 004.
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INVESTMENT HIGHLIGHTSRARE OWNER-USER / INVESTMENT / REDEVELOPMENT OPPORTUNITY IN HYDE PARK
• Delivered fully renovated. Possibility to build to suit
Potential for rezoning / variance for a multifamily andwork / live redevelopment
• Eligible for marijuana cultivation and manufacturing according to the new los angeles commercial cannabis location restriction ordinance
• Excellent ingress/egress.
• Possibility to purchase adjacent lot at 6825 S Victoria,and add 6600sqft with a second street access
STRATEGIC LOCATION
• located in the rapidly gentrifying Hyde park neighborhood, adjacent to Inglewood
• 1000 feet from the future Fairview height metro station due to open in 2019
Adjacent to the upcoming multibillion dollars Hollywood park redevelopment project, including the Los angeles Rams stadium
Enterprise zone
• 10 min from LAX, the 405 and fast access to DTLA
Adjacent to Florence / Crenshaw cross street•
EXCELLENT MARKET FUNDAMENTALS:
SOUTH LOS ANGELES INDUSTRIAL MARKET –
• Significant Rent Growth: 6,8% year on year
• Very low vacancy: 1%
• Strong appreciation
$2,250,000
Zoning MR1 light manufacturing
Total Land Area 0.52 acre
Total Building
Area8000 to 8973 sqft
APN
INVESTMENT SUMMARY
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•
•
• 20 minutes from Venice
•
• Plans and approvals for a 8000 to 10000sqft metal /concrete addition. 24 ft clear ceiling heightUtilities are already in
• Multiple activities possible from manufacturing,warehousing, creative offices, studios,...
• New underground heavy power 800Amp @ 240/120Vwith 4 tenant meters (2 for the new buiding)
Priced at
Property class B
4006 023 004
Offering price
FLORENCE AVENUE
FAIRVIEW HEIGHTS METRO STATION
M
LOS ANGELES STADIUMAT HOLLYWOOD PARK
VICTORIA AVENUEMcDONALD’s
ARCO
7ELEVEN
DELTA FLORAL DISTRIBUTORS
MOBILE
LCI ARCHITECTURAL WOODWORK
DOWNTOWNINGLEWOOD
6821Victoria ave
PROPERTY HIGHLIGHTS
INTERSECTION AVERAGE DAILY TRAFFIC
37,589
LAX 8.1 miles / 12 min
DTLA 9.8 miles / 18 min
405 2.7 miles / 7 min
110 3 miles / 8 min
Marina del rey 9 miles / 15 min
DAILY TRAFFIC COUNTS DISTANCES AND TIME
ADDRESS: 6821 - 6815 S Victoria ave, Los Angeles CA 90043
APN: 4006-023-004
GROSS BUILDING SIZE: 8000 sqft
LAND SIZE: 0.52 acre
YEAR BUILT: 1946
HVAC: no
STORIES: Two (2)
PARKING: +/- 80 Spaces (4/1,000)
ROOF: Flat
CONSTRUCTION TYPE: Masonry
ELEVATOR: no
SPRINKLERS: no
ZONING: MR1 Light manufacturing
UTILITIES:
Water LADWP
Sewer City of Los Angeles
Electricity LADWP
Natural Gas N/A
Local Phone AT&T
4
Florence / Crenshaw
SITE PLAN / PARKING OVERVIEW
5
AERIAL VIEW
6
ADDITIONAL LAND AVAILABLE TO PURCHASE
NEW BUILDINGFOOTPRINT
AERIAL VIEW / NEARBY DEVELOPMENTS
7
HOLLYWOOD PARK PROJECT
NEW CRENSHAW LAX LINEOPEN 2019
PROPOSED DEVELOPMENT SITE
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Martin LutherKing Jr
LeimertPark
Hyde Park
FairviewHeights
DowntownInglewood
Westcheste r/Veterans
Aviation/Century
Expo/La Brea
Farmdale
Expo/Crenshaw
Expo/Western
Culver City
Expo Par k /USC
J efferson/USC
23rd St
Expo/Vermont
La Cienega/Jefferson
Harbor Fwy
Vermon t/Athens
Redondo Beach
Douglas
El Segundo
Mariposa
Aviation/LAX
Hawthorne/Lennox
Crenshaw
Avalon
Wilshire/Western
Wilshire/Normandie
Westlake/MacArthur
Park
Vermont/Beverly
Wilshire/Vermont
Hollywood/Highland
Slauson
37th St/USC
Manchester
105
405
405
105
VENICE
LOSFELIZ
PARKLA BREA
MID-CITY
MARINADELREY
LADERAHEIGHTS
BALDWINHILLS
BEL AIR
UCLA
OCEANPARK
WEST
LOS ANGELES
HOLLYWOODHILLS
WEST HOLLYWOOD
SILVERLAKE
HANCOCKPARK
HOLLYWOOD
BEVERLYHILLS
CHEVIOTHILLS
CENTURYCITY
PALMS
LAWNDALEMANHATTAN BEACH
ATHENS
LAX
MORNINGSIDEPARK
FLORENC
HYDEPARK
LEIMERTPARK
WESTCHESTER
WESTADAMS
KOREATOWN
WILSHIRE CENTER
WESTWOOD
LENNOX
INGLEWOOD
EL SEGUNDO
HAWTHORNE
LOS ANGELES
GARDENA
CULVER CITY
Existing Metro Rail & Station
Metro Silver Line & Station
Purple Line Extension (under construction)
Purple Line Extension(approved alignment)
Exposition Transit Corridor Phase 2 (under construction)
Harbor Subdivision
Light Rail (LRT) Alignment & Station
At-Grade LRT
Below Grade LRT
Aerial LRT
Maintenance Yard Site
Parking
Subject to Change 14-0207 © 2013 LACMTA
Crenshaw/LAX Transit Corridor(under construction)
Línea y estación de Metro existente
Metro Silver Line y estación
Extensión de Purple Line (bajo construcción)
Extensión de Purple Line (alineamiento aprobado)
Corredor de Transporte Exposition fase 2(bajo construcción)
Harbor Subdivision
Estación y alineamiento de tren ligero (LRT)
LRT a nivel de la calle
LRT debajo de nivel
LRT a nivel elevado
Sitio de mantenimiento
Estacionamiento
Sujeto a cambios 16-0208 © 2015 LACMTA
Corredor de Transporte Crenshaw/LAX(bajo construcción)
16-0208 © 2015 LACMTA
Crenshaw/LAX Transit Project
CRENSHAW-LAX TRANSIT PROJECTThe Metro Crenshaw/LAX Line will extend from the existing Metro Exposition Line at Crenshaw and Exposition Boulevards. The Line will travel 8.5 miles to the Metro Green Line and will serve the cities of Los Angeles, Inglewood and El Segundo, and portions of unincorporated Los Angeles County. The new Metro Rail extension will offer an alternative transportation option to congested roadways and provide significant environmental benefits, economic development and employment opportunities throughout Los Angeles County. Riders will be able to make easy connections within the entire Metro Rail system, municipal bus lines and other regional transportation services.
The Crenshaw/LAX Transit Project will serve the Crenshaw District, Inglewood, Westchester and surrounding area with eight stations at:
1. Expo/Crenshaw
2. Martin Luther King Jr.
3. Leimert Park
4. Hyde Park
5. Fairview Heights
6. Downtown Inglewood
7. Westchester/Veterans
8. Aviation/Century
In addition to the alternative transportation option to congested roadways, the project will also provide significant environmental benefits, economic developmentand employment opportunities throughout Los Angeles County.
The Crenshaw/LAX Project is one of 12 transit projects funded by Measure R, the half-cent sales tax approved by Los Angeles County voters in 2008.
AREA DEVELOPMENT
8
PRE CONSTRUCTION SITE PICTURES
Stocker Street
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PRE CONSTRUCTION SITE PICTURES
Stocker Street
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PRE CONSTRUCTION SITE PICTURES
Stocker Street
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PRE CONSTRUCTION SITE PICTURES
Stocker Street
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PRE CONSTRUCTION SITE PICTURES
Stocker Street
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