FOR SALE Development Land PRESENTED BY JOHN ANTHONY, SIOR Senior Managing Director Lic.#01226464 janthony@charlesdunn.com Direct (213) 534-3245 CHRIS GIORDANO Director Lic.#01928706 cgiordano@charlesdunn.com Direct (213) 534-3280 CHRIS STECK Managing Director Lic.#01841338 csteck@charlesdunn.com Direct (213) 534-3216 CHARLES DUNN COMPANY 800 West Sixth Street, Suite 800 Los Angeles, CA 90017 Office (213) 481-1800 Lic. # 01201641 www.charlesdunn.com 1525-1535 Rockwood Street & 1518-1526 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: 1525-1535 Rockwood Street APN: 5159-015-013, 5159-015-014, 5159-015-015 LAND: 17,339 square feet Current Zoning: RD2-1-O Property Address: 1518-1526 Colton Street APN: 5159-015-031, 5159-015-030, 5159-015-029 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.
LOCATION MAPS 1525-1535 Rockwood Street and1518-1526 Colton Street www.charlesdunn.com 2
DEVELOPMENT SUMMARY Subject Property Units Current Zoning With a Zone Change 1525-1535 Rockwood Street Buildable Units 8 43 Buildable Units with Density 11 59 Bonus FAR 3:1 6:1 1518-1526 Colton Street Buildable Units 7 38 Buildable Units with Density 10 52 Bonus FAR 3:1 6:1 1525 1535 Rockwood Street The development potential for 1525 1535 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. 1518-1526 Colton Street The Development potential for 1518 1526 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. www.charlesdunn.com 3
NEARBY DEVELOPMENTS MULTIFAMILY DEVELOPMENTS PROPOSED 1 2929 Leeward Street 80 07/2017 2 617 N. Dillion Street 49 12/2017 3 1120 W 6th Street 648 06/2017 4 333 Belmont Avenue 69 04/2017 5 2300 Beverly Boulevard 47 11/2017 6 1416 W Beverly Boulevard 125 12/2017 7 1910 W Temple Street 247 10/2018 8 2510 W Temple Street 47 04/2017 9 2525 Wilshire Boulevard 154 09/2017 TOTAL 1,466 MULTIFAMILY DEVELOPMENTS UNDER CONSTRUCTION 10 992 S Arapaho Street 173 4/2018 MULTIFAMILY DEVELOPMENTS RECENTLY COMPLETED 30 1136 W. 6th Street 42 12/2015 31 1901 W. 6th Street 52 8/2016 32 3550 W. 6th Street 110 10/2016 33 409-415 S. Burlington Avenue 30 1/2015 34 2840 Francis Avenue 28 2015 35 1038 S. Mariposa Avenue 32 9/2016 36 157 S. Oxford Avenue 29 08/2016 37 1046-1052 S. Serrano Avenue 20 12/2015 38 1647 W. Temple Street 49 7/2017 39 2510 W. Temple Street 47 4/2017 40 3221 W. Temple Street 68 12/2015 41 2300 Valley Street 18 2016 42 1225 S. Vermont Avenue 40 09/2015 43 442 S. Virgil Avenue 74 08/2016 44 1515 Wilshire Boulevard 219 7/2016 45 3030 Wilshire Boulevard 190 11/2016 TOTAL 1,048 11 235 N Hoover Street 221 6/2017 12 616 S Westmoreland Avenue 77 10/2017 13 2902 W Wilshire Boulevard 644 9/2017 14 1810 W Montrose Street 13 1/2018 15 1185-1245 W Sunset Boulevard 214 7/2017 16 1111 W 6th Street 362 5/2017 17 1135-1147 W 7th Street 241 7/2017 18 1237 W 7th Street 304 1/2018 19 1247 W 7th Street 304 5/2018 20 1512 W 7th Street 216 8/2017 21 2405 W 8th Street 144 5/2017 22 668 S Coronado Street 122 6/2017 23 481 Hartford Avenue 218 10/2017 24 740 Hartford Avenue 80 4/2017 25 1110-1140 W Ingraham Street 422 5/2017 26 1030 S Lake Street 203 3/2018 27 1001 S Park View Street 108 8/2017 28 1000 W Temple Street 1,446 9/2018 29 2227 Valley Street 26 5/2017 TOTAL 5,538 www.charlesdunn.com 4
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