FOR SALE Development Land

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1 FOR SALE Development Land PRESENTED BY JOHN ANTHONY, SIOR Senior Managing Director Lic.# Direct (213) CHRIS GIORDANO Director Lic.# Direct (213) CHRIS STECK Managing Director Lic.# Direct (213) CHARLES DUNN COMPANY 800 West Sixth Street, Suite 800 Los Angeles, CA Office (213) Lic. # Rockwood Street & Colton Street Property Facts Total Land Size... 32,792 SF Total Sale Price... $2,999,000 Land Price Per Square Foot... $91.49 Rockwood Parcel Information Colton Parcel Information Property Address: Rockwood Street APN: , , LAND: 17,339 square feet Current Zoning: RD2-1-O Property Address: Colton Street APN: , , LAND: 15,453 square feet Current Zoning: RD2-1-O The Rockwood and Colton development site parcels represent an opportunity for a developer to take advantage of the booming multi-family development market within close proximity to Downtown and Echo Park/Silverlake. The sites boast amazing Downtown views and easy access to the 2, 101, and 110 Freeways with close proximity to Glendale Boulevard.

2 LOCATION MAPS Rockwood Street and Colton Street 2

3 DEVELOPMENT SUMMARY Subject Property Units Current Zoning With a Zone Change Rockwood Street Buildable Units 8 43 Buildable Units with Density Bonus FAR 3:1 6: Colton Street Buildable Units 7 38 Buildable Units with Density Bonus FAR 3:1 6: Rockwood Street The development potential for Rockwood Street under its current RD2-1-O zoning allows for eight 2,000 square foot units. The 35% low-income housing density bonus increases the buildable units from eight to eleven buildable units under the site s current zoning. The entitled Floor Area Ratio (FAR) is 3 to 1, which permits 52,017 square feet of total allowable building area. The area available for building, after setbacks, is 12,699 square feet for the first two stories, 12,261 square feet for the third story, and 11,831 for the fourth story. A ground level or below grade parking garage can be built to the property lines at the side yards, allowing for up to a 13,811-square foot garage structure. A zone change on the property from RD2-1-O to RD2-1-O-EZ-1-L under the Enterprise Zone Ordinance would be considered by the City of Los Angeles Planning Department if the property use remains residential. With a zone change to EZ-2-L, the FAR could increase to 6:1, and reduce the minimum unit size to 400 square feet with a 75-foot height limit, and no story limit. The zone change would result in 43 buildable units and up to 59 units with the Density Bonus Colton Street The Development potential for Colton Street under its current RD2-1-O zoning allows for seven 2,000 square foot units. The 35% low-income housing density bonus increase the buildable units from seven to ten buildable units under the site s current zoning. The entitled FAR is 3 to 1, which permits 46,359 square feet of total allowable building area. The area available for building, after setbacks, is 10,337 square feet for the first two stories, 9,919 for the third story, and 9,509 for the fourth story. A ground level or below grade parking garage can be built to the property lines at the side yards, allowing for up to a 11,171-square foot garage structure. A zone change on the property from RD2-1-O to RD2-1-O-EZ-1-L under the Enterprise Zone Ordinance would be considered by the City of Los Angeles, as stated above, if the property use remains residential. A zone change to EZ-2-L and an FAR increase to 6:1 would permit 38 buildable units and the potential of 52 units with the density bonus in a 92,718 square foot structure. 3

4 NEARBY DEVELOPMENTS MULTIFAMILY DEVELOPMENTS PROPOSED Leeward Street 80 07/ N. Dillion Street 49 12/ W 6th Street / Belmont Avenue 69 04/ Beverly Boulevard 47 11/ W Beverly Boulevard / W Temple Street / W Temple Street 47 04/ Wilshire Boulevard /2017 TOTAL 1,466 MULTIFAMILY DEVELOPMENTS UNDER CONSTRUCTION S Arapaho Street 173 4/2018 MULTIFAMILY DEVELOPMENTS RECENTLY COMPLETED W. 6th Street 42 12/ W. 6th Street 52 8/ W. 6th Street / S. Burlington Avenue 30 1/ Francis Avenue S. Mariposa Avenue 32 9/ S. Oxford Avenue 29 08/ S. Serrano Avenue 20 12/ W. Temple Street 49 7/ W. Temple Street 47 4/ W. Temple Street 68 12/ Valley Street S. Vermont Avenue 40 09/ S. Virgil Avenue 74 08/ Wilshire Boulevard 219 7/ Wilshire Boulevard /2016 TOTAL 1, N Hoover Street 221 6/ S Westmoreland Avenue 77 10/ W Wilshire Boulevard 644 9/ W Montrose Street 13 1/ W Sunset Boulevard 214 7/ W 6th Street 362 5/ W 7th Street 241 7/ W 7th Street 304 1/ W 7th Street 304 5/ W 7th Street 216 8/ W 8th Street 144 5/ S Coronado Street 122 6/ Hartford Avenue / Hartford Avenue 80 4/ W Ingraham Street 422 5/ S Lake Street 203 3/ S Park View Street 108 8/ W Temple Street 1,446 9/ Valley Street 26 5/2017 TOTAL 5,

5 PROPERTY PHOTOS Colton Parcel Colton Parcel Rockwood Parcel Rockwood Parcel Charles Dunn Company, Inc. 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. w w w. c har les dun n.c o m 5

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