REDEVELOPMENT OPPORTUNITY Multifamily 3569 Chesapeake ...€¦ · Redevelopment Opportunity |...

CORP ID #01191898

REDEVELOPMENT OPPORTUNITY | Multifamily3569 Chesapeake Avenue, Los Angeles, CA 90016

RYAN O’CONNORLee & Associates - LA North/Ventura818.444.4965 | [email protected] Lic # 01931694

Redevelopment Opportunity | MULTIFAMILY3569 Chesapeake Avenue, Los Angeles, CA 90016

3569 CHESAPEAKE AVENUE

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PROPERTY DESCRIPTION ..................................................................................3-10

LOCATION OVERVIEW ...................................................................................... 11-17

BROKER RESUME ............................................................................................. 18-19

TABLE OF CONTENTS

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3PROPERTY DESCRIPTION



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Portfolio Overview

Address: 3569 Chesapeake Avenue Los Angeles, CA 90016

Price: $1,180,000

APN: 5046-014-011

Units: 3

Unit Mix: 2(2+1, 1(1+1)

Year Built: 1944

Building Size: 2,212 SF

Lot Size: 7,165 SF

Zoning: R3-1

TOC Program: Tier 3-eligible for up to 70% density bonus (Contact agent for more details regarding TOC Program)

PROPERTY DESCRIPTION

Key Investment Features

• Rare Tier 3 TOC Development Opportunity: 70% Density Bonus Plus Other Development Incentives

• Up and Coming West Adams Location: Adjacent to the Booming Tech Hub of Culver City

• Ease of Transportation: Nearby 405, 10, and 110 Freeways

• 3 minute Walk to Farmdale Metro Station along the Expo Line: 2 Stops from Downtown Culver City, and just 7 stops from Santa Monica and Downtown Los Angeles

• Adjacent Properties will also entertain selling and/or JV opportunity. (Contact agent for more details)

UNIT TYPE RATE

1 2+1 $2,125

2 2+1 $1,600

3 1+1 $1,000

Rent Roll

Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898

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5No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

PROPERTY DESCRIPTION Overview

PROPERTY DESCRIPTION

3569 Chesapeake Avenue is a Tier 3 TOC development opportunity to

build a brand new multifamily property of up to 16-units located in the

West Adams neighborhood of Los Angeles, California. The property is

currently operating as a triplex offering an investor existing income while

going through the entitlement process, or for an investor to hold as an

existing triplex in a great and improving location. 3569 Chesapeake

Avenue is a 7,165.5 square foot R3-1 lot located on the southwest

corner of Chesapeake Avenue and Rodeo Road.

LOCATION INFORMATION

The subject property is located in a very densely populated area of

Los Angeles in an up and coming neighborhood. The location offers

for ease of transportation as it is located nearby the 405, 10, and

110 freeways. The property is also less than 800 feet (less than 3

minute walk) from the Farmdale Station of the Metro Expo Line. The

West Adams neighborhood of Los Angeles is centrally located to Culver

City and the Beach Cities, such as Santa Monica and Venice, as well as

Downtown Los Angeles and Beverly Hills. The Farmdale Station is just

2 stops from Downtown Culver City, 7 stops from Santa Monica, and 7

stops from Downtown Los Angeles along the Expo Line.



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PROPERTY DESCRIPTION Transit Oriented Communites (TOC)

THE TRANSIT ORIENTED COMMUNITIES AFFORDABLE HOUSING INVENTIVE PROGRAM (TOC PROGRAM)

The Transit Oriented Communities Affordable Housing Inventive Program (TOC Program) has the primary objective to facilitate the development of

mixed-income and affordable housing in transit areas. In 2017, Los Angeles overwhelmingly voted in support of Measure JJJ. The Measure instituted

new labor and affordable housing requirements for projects that receive certain planning entitlements – namely, general plan amendments or zone

changes. In exchange, developers are required to designate a percentage of either condos or apartment units for low-income tenants. Section 6 of

Measure JJJ instructed the Department of City Planning to create the TOC Program, a new transit-based affordable housing incentive program. The

measure requires that the Department establish incentives for residential or mixed-use projects located within ½ mile of a major transit stop. The

TOC incentives align with the City’s General Plan policies to encourage housing around transit-rich centers as a way to grow sustainably, advance

housing affordability and maximize the regions investment in transit infrastructure.

Approximately 22% of the City’s zoned land falls within ½ mile of a major transit stop. However, since much of this land is zoned for low residential

(i.e. R1, R2, or RA zones) or uses that do not permit housing to be built (P, PF, or M zones), the amount of developable land subject to the TOC Program

is reduced to approximately 10%. In addition, more than three-quarters of the impacted land is located in the lower tiers 1 and 2.

The TOC program establishes a tier-based system with varying development bonuses and incentives based on a project’s distance from different

types of transit. The largest bonuses are reserved for those areas in the closest proximity to significant rail stops or the intersection of major bus

rapid transit lines. Required affordability levels are increased incrementally in each higher tier.


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PROPERTY DESCRIPTION Aerial



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PROPERTY DESCRIPTION Parcel Map


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PROPERTY DESCRIPTION Location Map



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PROPERTY DESCRIPTION Metro Station Nearby

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LOCATION OVERVIEW Expo/Farmdale Metro Station

Subject property is located .02 miles (about a 5 minuite walk) to nearby Farmdale Metro Station along the Expo Line, providing residents with short commute times and ease of access to Santa Monica, Downtown Los Angeles, and all of Greater Los Angeles. Expo Line service hours are approximately from 4 AM to 12:30 AM daily.

Subject Property


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LOCATION OVERVIEW Amenities Aerial



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LOCATION OVERVIEW West Adams

West Adams is an iconic neighborhood of Los Angeles bordered by Mid-City to the north, Baldwin Hills/Crenshaw to the south; Jefferson Park to the east and Palms/Culver City to the west.

Historic West Adams dates from the 1880s while most of the neighborhood was developed beginning in the 1920s. But another transition is now underway driven by the completion of the Expo line extension which offers residents easy access to downtown Los Angeles, USC, Westwood, Culver City and Santa Monica, among other destinations.

Just a short walk from the Subject Property, the Farmdale Station of the Expo Line carries commuters to business centers such as Downtown Los Angeles; residents to entertainment venues including Staples and the Shrine Auditorium; it carries students to USC and surfers to the Pacific Ocean.

The opening of the Metro station along with rising prices in neighboring Culver City have opened West Adams to gentrification, and the community is quickly becoming “ground zero for cutting edge, trailblazing, artistic entrepreneurs on South L.A.’s Westside,” according to LA Weekly.

The neighborhood also has significant infrastructure for families including Dorsey High School, Rancho Cienega Recreation Center with facilities for just about every sport and programs for youth and adults, and Baldwin Hills Scenic Overlook, a 58-acre park with trails that overlook panoramic views of Los Angeles.

West Adams was ranked ninth of the Ten Most Competitive Markets for home sales by Redfin after seeing a bigger drop in inventory than most of Los Angeles over an 18-month period.


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LOCATION OVERVIEW West Adams

DEVELOPMENT HAS SKYROCKETED

Carmel Partners is developing an 11-acre site into a mixed-use complex called Cumulus. The project, designed by TCA Architects, includes a seven-story podium building, about 1,200 residential units and 100,000 square feet of retail. A 30-story tower designed by Solomon Cordwell Buenz is also planned at the site, located just north of the La Cienega/Jefferson Expo Line station.

Kaiser Permanente has completed construction on a $90 million out-patient facility and several mixed-use apartment and condominium developments are in various stages of planning.

And nearby developers have planned one of the most innovative structures yet to dot the Los Angeles skyline. (W)rapper, designed by Eric Owen Moss Architects, is a 17-story structure with an exoskeleton of steel and 360 degree views.

Adjacent to West Adams is the $700 million redevelopment of Baldwin Hills/Crenshaw Plaza mall and the surrounding area. Capri Investment Group, one of the largest minority-owned investment firms in the country, has received approval for an urban village that would augment the shopping center with 961 condominium and rental units, a hotel and another 332,000 square feet of retail and restaurant space.

When completed, the project will feature free live concerts and other events, a farmer’s market, an African American Art Museum, an expanded Debbie Allen Dance Academy and a variety of seasonal special events.

Restaurateurs have also been discovering the neighborhood. Daniel Patterson (Coi) and the Alta Restaurant Group opened their first Los Angeles concept in West Adams to much fanfare, with Zagat listing it as one of the most anticipated restaurant openings of 2018.



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LOCATION OVERVIEW West Adams Articles

West Adams is one of the most competitive homebuying markets in the U.S. Ranked ninth in the nation and the only LA neighborhood on the list

By Bianca Barragan Jan6, 2017, 8:01amPST

We knew West Adams is a great neighborhood, but we didn’t know that buying a house there was such a battle. Now we do: Redfin put West Adams on its list of 2016’smostcompetitivemarkets in the nation. West Adams took ninth place, and shared the top 10 spots with neighborhoods in San Francisco and Seattle metro areas.

What makes West Adams, which sits south of the 10 Freeway between Jefferson Park and Culver City, so competitive? Taylor Marr, a data scientist at Redfin who conducted analysis for the report, says West Adams saw a bigger drop in inventory than most of LA over the last 18 months, most likely because when houses sell fast, inventory declines quickly.


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In November, the median time that homes in the LA metro area lingered on the market was 42 days. In West Adams, it was 25 days, says Marr.

West Adams had sustained median price growth in the period covered by in the report (January 1 to December 5, 2016), with the median sale price rising 22.5 percent in 2016. The year’s median sale price in West Adams was $550,688, according to Redfin data.

That price tag is also key to West Adams’s high desirability. Jeffery Marino, a Redfin spokesperson, says West Adams is in what Redfin real estate agents call “the sweet

spot”—it’s in demand but the median price is under $600,000, which is still seen as “affordable.”

It’s not surprising that people are clamoring to buy in West Adams. It’s been hot for a little while now. In December of last year, West Adams’s median sale price was $525,000—up 27 percent over the median from December 2014. At that time, the average buyer was paying 2 percent over average to lock down a home in the neighborhood.

West Adams was the only neighborhood in the LA metro to make the cut, and that’s surprising.

Marr says one reason might be that cities such as Seattle have fewer places where people are fighting to buy a home, there are “pockets of concentrated wealth” that are highly desirable, but in LA there are many, many places where people want to buy. LA is highly competitive, Marr says, but all that competition is spread out. Seattle, for example, has 123 neighborhoods. Los Angeles has 235.

Two LA-area neighborhoods that just missed the cutoff for the top 30 most competitive in the nation were Inglewood and Mar Vista.

https://la.curbed.com/2017/1/6/14180168/west‐adams‐competitive‐homebuying‐markets



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Reprinted: https://la.curbed.com/2018/3/22/17152842/west‐adams‐mixed‐use‐carmel‐partners‐cumulus

Carmel Partners had plans for the 11-acre site starting in 2015, but it didn’t purchase the land until 2016, when it paid almost $111 million. It had originally planned to begin construction this year.

In 2016, the Crenshaw Subway Coalition (which unsuccessfully sued the city over the Crenshaw Line) and the Friends of the Neighborhood Integrity Initiative (which supported a failed ballot measure to impose a two-year building moratorium on many big, tall buildings) sued to halt the tower’s construction. Those groups lost, but they have filed an appeal.

Reprinted: https://la.curbed.com/2018/3/22/17152842/west‐adams‐mixed‐use‐carmel‐partners‐cumulus

Gaze upon these first renderings for Cumulus tower The mixed-use development would bring a 30-story tower to West Adams

By Bianca Barragan UpdatedMar25, 2018, 6:07pmPDT

A major project planned for a WestAdams property has been mostly a mystery since it was first proposed in 2015. Now, we’re getting our first good look at what could be in store for the site at La Cienega and Jefferson boulevards.

Renderings on thewebsite for project developer Carmel Partners show off the development, called Cumulus. The complex, designed by TCAArchitects, includes a seven-story podium building, about 1,200 residential units, and 100,000 square feet of retail. A grocery store is reportedly planned to take up some of that square footage. A 30-story tower designed

by SolomonCordwellBuenz is also planned.

Open space, plazas, offices and commercial space are also part of the plans for the site, which is just north of the La Cienega/Jefferson Expo Line station. (The geographically-challenged website refers to the project’s neighborhood as Culver City.)

Carmel tells Curbed that the designs are still being revised and that parts of these renderings are out-of-date. But this is the best look we’ve had in three years of what might be rising on the 11-acre property.

Designed by Solomon Cordwell Buenz, Cumulus will include a 30‐story tower, plus plazas, offices, and shops. Renderings by Solomon Cordwell Buenz, courtesy of Carmel Partners


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Culver City office tower by Eric Owen Moss previewed in new fly-through video The wacky high-rise will be wrapped in a steel exoskeleton

By Eli jahChiland Aug7 , 2017, 8:30pmPDT

One of LA’s most outgoing new development projects has a flashy new fly-through video showing off its unusual design.

https://la.curbed.com/2017/8/7/16107746/culver-city-office-tower-eric-owen-moss-wrapper

The 16-story high-rise is called (W)rapper and has been intheworks for years. Originally planned as a multi-structure complex, the project was redesigned in 2006 as a single office tower.

Designed by EricOwenMossArchitects, it’s set to rise near the border of Los Angeles and Culver City, close to the HaydenTract, where Moss has previously collaborated with developer Samitaur Constructs on several other eye-catching projects, including the recent Pterodactyl project nearby.

The video offers a good glimpse at the new tower’s asymmetrical shape and the windy exoskeleton that wraps (get it?) around the structure.

The 17-story building will rise next to the Expo Line’s LA Cienega/Jefferson station, joining a host of otherdevelopments sprouting up around the newly extended train line. It will contain about 160,000 square feet of office space, along with a multi-level rooftop deck that can be used as an event space.

According to UrbanizeLA, construction crews will begin excavation work on the project’s parking garage in the next two months.



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there’snosettimeline.“It’llfallinplaceandit’llbewhateverit’sgoingtobe.Iwouldloveitifit’snextyearsometime,”hesays.Of course, West Adams is also a burgeoning corridor for young families and increased public transit, making it a popular new destination for residential and restaurant builds. JustaskTonyYanow and the Artisanal Brewers Collective, who still have plans to put a beer-focused pub inside an industrial building in West Adams next year.

Eater was able to confirm the Alta opening with Patterson’s team yesterday, who say an opening should happen sometime next year. They add:

LikeitssisterrestaurantsintheBayArea,AltaWestAdamswillfeatureaCalifornia‐centricmenuinformedbylocalingredients,butwithadistinctlySouthernCaliforniasensibilityandsettingdesignedwith

thesurroundingcommunityinmind.PattersonwilloverseetheculinaryvisionalongwithanLA‐basedteam.Patterson is in Los Angeles often thankstohisstake in fast food option Locol in Watts, and seems eager to contribute to the greater South LA neighborhood. Alta will even work with non-profits like Restaurant Opportunities Centers to help give back to the area and supply people with jobs.

There’s no confirmed timeline for the opening of Alta in West Adams, but it won’t be until next year. The space covers just under 2,500 total square feet with room for a proposed patio, and there’s still a lot of construction work to do.

Alta5365WestAdamsBlvd.LosAngeles,CA

https://la.eater.com/2017/9/6/16262204/daniel‐patterson‐alta‐san‐francisco‐coming‐west‐adams

Locol Co-Founder Daniel Patterson Brings SF’s Upscale Restaurant Alta to South LA The project is slated for a bright corner of West Adams

by FarleyElliottSep6,2017,9:50amPDT

Successful San Francisco restaurateur DanielPatterson is ready to make an even bigger splash in Los Angeles soon with the opening of his first Southern California location of Alta. The California casual restaurant first came on the scene in San Francisco’s Mid-Market neighborhood back in 2013, but has since grown to encompass multiple new and planned locations across the Bay Area, from the Minnesota Street Project in the Dogpatch neighborhood to Jack

London Square in Oakland.

In Los Angeles, Patterson will land his first Alta in West Adams, just below the 10 Freeway at the corner of Burnside and West Adams proper. That’s in line with what the chef toldEaterbackinJuly when teasing a possible LA location:

“We’reprettyfaralong,”hesays,explainingthathisgrouphaszeroedinontheSouthernpartofthecity,becausePattersonwantstobeabletohirefromWatts,Compton,Crenshaw,andtheotherareashe’sgottentoknowwithLocolWatts.But


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Big New Craft Beer Restaurant Comes to White-Hot West Adams The unnamed project could mark a turning point for the neighborhood

by FarleyElliottJan17,2017,10:45amPST

Everyone’s talking about West Adams these days, as the historic neighborhood just south of the 10 Freeway continues to thrive with new development amidst an exploding real estate market there. One new name to pop up at a big property along Adams Boulevard: Tony Yanow, the Mohawk Bend/Tony’s Darts Away owner and all‐around craft beer guru.

Yanow has been on the move of late, with his name attached to a few different high‐profile projects across Los Angeles. Among them is a new

Valley brewpub concept slated to land in the long‐running Señor Fred space on Ventura Boulevard in Sherman Oaks, where Yanow is focusing most of his energies at the moment. There’s also the Westwood restaurant and craft beer stop, which lands in the former Yamato space as part of the so‐called Artisanal Brewers Collective that’s been snatching up all this real estate lately.

In fact, they’re the same collective behind this new West Adams departure. It’s a giant one‐story brick building at 5645 W. Adams Blvd. and comes with lots of on‐site parking, clocking in at around 17,000 square feet total (though Yanow’s project will reportedly only be about 6,900 square feet, including a 1,000 square foot patio). That’s all according to real estate site LoopNet, which also mentions loading docks, office space, and some original bow truss ceilings for the building, which will continue to house two other unnamed tenants.

Yanow and team remain mum on what’s to come of the address except to say that the place will in part function as a beer‐focused restaurant, but with that much room to operate it’s easy to expect something big, bold, and beautiful. At its most ambitious, the project could end up looking similar to the ultimate indoor‐outdoor, multi‐functional idea that Downtown’s Iron Triangle Brewing has been throwing around for a while. More on this one as it comes.

https://la.eater.com/2017/1/17/14277110/craft-beer-west-adams-tony-yanow-coming



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"If the train is half-empty, and they can fit either vertically or at an angle, you're good to go," Metro spokesman Jose Ubaldo said. "But if someone tried to get on the train and push everybody — I don't even want to think about that." Still, Ubaldo said, that issue shouldn't come up very much: Any surfers who are particularly fond of public transit will probably be riding in the early morning, before trains fill up with commuters, he said. The Expo Line starts running at 5 a.m., and trains arrive every 12 minutes all day. The 15-mile ride from downtown Los Angeles to Santa Monica will take about 46 minutes. The $1.5-billion, 6.6-mile extension will add seven stations to Metro's growing rail network: Palms, Westwood/Rancho Park, Expo/Sepulveda, Expo/Bundy, 26th Street/Bergamot, 17th Street/Santa Monica College and downtown Santa Monica. The downtown Santa Monica stop is a block from the Third Street Promenade and about a half-mile from the sand.

http://www.latimes.com/local/lanow/la‐me‐ln‐surfboards‐expo‐line‐20160301‐story.html

Surf'sup!Yes,youcantakeyourboardsontheExpoLineByLAURAJ . NELSON MAR01, 2016| 11:04AM

When the Expo Line extension opens to Santa Monica on May 20, beachgoers will be able to take the light-rail line within a half-mile of the Pacific Ocean. That includes surfers, Metro officials say — as long as the trains

aren't too crowded. If people toting surfboards see that the Expo Line is already packed with passengers, they should wait for the next train, Metro officials say. (The same policy applies to bicyclists and anyone else with particularly bulky paraphernalia.)

Surfers hit the ocean near theSanta Monica Pier, a few blocks from where the Expo Line will stop. (Allen J. Schaben / Los Angeles Times)


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Mapped: South LA’s game-changing developments These are the biggest projects planned for the region, from West Adams to Watts

By JennaChandler@jennakchandler Mar7 , 2018, 10:00amPST

Billions of dollars, both in public and private money, are being invested in South Los Angeles. A hugeNFLstadium is under construction in Inglewood, and it will be surrounded by thousands of new homes. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from

West Adams to Watts.

Here, we’ve mapped the biggest projects planned for the region. Time will tell whether they can help level out the socioeconomic inequalities that have persisted for decades.

https://la.curbed.com/maps/south-los-angeles-development-map



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Site SelectionMarch 15, 2018

Overview map showing the requested trade area(s) around My Site, 3569 Chesapeake Ave, Los Angeles, CA, 90016:

Copyright 2006-2014 TomTom. All rights reserved. This material is proprietary and the subject of copyright protection, database right protection and other intellectual property rights owned by TomTom or its suppliers. The use of this material is subject to the terms of a license agreement. Any unauthorized copying or disclosure of this material will lead to criminal and civil liabilities.

Trade Areas (in miles) - 1Trade Areas (in miles) - 3Trade Areas (in miles) - 5

© 2018 Alteryx, Inc. All rights reserved. Alteryx is a registered trademark of Alteryx, Inc.

eSite Analytics, Inc. - [email protected] - www.esiteanalytics.com - (843) 881-7203 Page 1 of

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Complete Demographic Comparison Report for My Site, 3569 Chesapeake Ave, Los Angeles, CA, 90016:

1 mile(s) 3 mile(s) 5 mile(s)

2017A Demographics:

Q2 2017 Employees 9,480 105,147 587,092Q2 2017 Establishments* 1,130 11,615 59,449 Total Population 45,681 366,961 1,204,960Total Households 17,437 132,309 449,502Female Population 24,595 192,308 615,260 % Female 53.8% 52.4% 51.1%Male Population 21,087 174,652 589,700 % Male 46.2% 47.6% 48.9%Population Density (per Sq. Mi.) 14,538.71 12,976.72 15,339.84 Employed Civilian Population 16+Total 18,537 167,470 580,735 White Collar 48.0% 54.9% 56.2% Blue Collar 52.0% 45.1% 43.8% Seasonal Population by Quarter:Q4 2014 60 857 4,778Q1 2015 72 895 4,853Q2 2015 88 1,126 5,574Q3 2015 91 1,166 5,928Q4 2015 93 1,218 6,114Q1 2016 76 1,215 6,244Q2 2016 76 1,268 6,506Q3 2016 90 1,046 5,544Q4 2016 92 1,056 5,587 Age:Age 0 - 4 7.2% 6.3% 6.4%Age 5 - 14 13.4% 11.8% 11.2%Age 15 - 19 6.6% 6.1% 6.0%Age 20 - 24 7.0% 7.1% 8.0%Age 25 - 34 15.3% 16.8% 18.6%Age 35 - 44 13.0% 14.1% 14.9%Age 45 - 54 13.5% 13.9% 13.1%

Age 55 - 64 11.3% 11.5% 10.5%



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LOCATION OVERVIEW Demographics


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Age 65 - 74 6.9% 6.9% 6.3%Age 75 - 84 3.8% 3.6% 3.3%Age 85 + 1.9% 1.8% 1.7%Median Age 35.3 36.3 34.9 Housing UnitsTotal Housing Units 18,203 136,677 465,141 Occupied Housing Units 95.8% 96.8% 96.6% Vacant Housing Units 4.2% 3.2% 3.4% Housing Units by TenureTotal Households in Tenure 17,437 132,309 449,502Owner Occupied Housing Units 4,678 45,423 120,170 Owner Occupied free and clear 25.0% 21.5% 23.8% Owner Occupied with a mortgage or loan 75.0% 78.5% 76.2%Renter Occupied Housing Units 12,759 86,885 329,332 Race and EthnicityAmerican Indian, Eskimo, Aleut 0.7% 0.8% 0.7%Asian 3.6% 7.7% 13.0%Black 47.1% 33.4% 19.8%Hawaiian/Pacific Islander 0.1% 0.1% 0.1%White 17.6% 27.8% 36.7%Other 26.2% 25.1% 24.7%Multi-Race 4.6% 5.0% 4.9% Hispanic Ethnicity 44.5% 45.7% 46.0%Not of Hispanic Ethnicity 55.5% 54.3% 54.0% Race of HispanicsHispanics 20,319 167,659 554,800American Indian 1.1% 1.3% 1.3%Asian 0.1% 0.2% 0.3%Black 2.4% 2.2% 1.5%Hawaiian/Pacific Islander 0.1% 0.1% 0.1%White 33.2% 36.8% 38.3%Other 57.4% 53.7% 52.7%Multi-Race 5.6% 5.8% 5.9% Race of Non HispanicsNon Hispanics 25,362 199,302 650,160American Indian 0.5% 0.3% 0.3%



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Asian 6.4% 14.0% 23.9%Black 82.9% 59.7% 35.4%Hawaiian/Pacific Islander 0.1% 0.2% 0.2%White 5.2% 20.3% 35.3%Other 1.2% 1.1% 0.8%Multi-Race 3.8% 4.4% 4.1% Marital Status:Age 15 + Population 36,244 300,608 992,165Divorced 11.6% 10.5% 8.8%Never Married 47.6% 48.0% 49.8%Now Married 34.5% 36.3% 36.7% Now Married - Separated 4.0% 3.3% 2.9%Widowed 6.3% 5.2% 4.8% Educational Attainment:Total Population Age 25+ 30,026 252,038 823,823Grade K - 8 11.2% 11.1% 12.3%Grade 9 - 12 11.6% 10.4% 10.1%High School Graduate 24.3% 20.9% 18.8%Associates Degree 6.1% 6.3% 5.4%Bachelor's Degree 12.3% 18.1% 21.2%Graduate Degree 6.2% 9.7% 10.8%Some College, No Degree 25.3% 20.5% 18.0%No Schooling Completed 3.0% 3.0% 3.3% Household Income:Income $ 0 - $9,999 11.9% 9.3% 9.3%Income $ 10,000 - $14,999 11.5% 7.8% 7.6%Income $ 15,000 - $24,999 16.5% 12.8% 13.0%Income $ 25,000 - $34,999 14.1% 11.1% 11.2%Income $ 35,000 - $49,999 11.9% 13.2% 13.2%Income $ 50,000 - $74,999 14.8% 16.8% 15.9%Income $ 75,000 - $99,999 8.6% 9.9% 9.5%Income $100,000 - $124,999 4.8% 6.3% 6.6%Income $125,000 - $149,999 2.0% 3.7% 3.6%Income $150,000 + 3.9% 9.0% 10.0% Average Household Income $49,665 $70,365 $75,104Median Household Income $31,999 $44,501 $44,557Per Capita Income $19,032 $25,584 $28,344



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LOCATION OVERVIEW Demographics

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26BROKER RESUME


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Specialty / Expertise

Ryan O’Connor is an Associate of Lee & Associates-LA North/Ventura with a broad-based background in real estate, property management and property tax assessment.

He has worked extensively with property owners and financial institutions evaluating and preparing properties for sale and representing buyers and sellers in the acquisition and disposition of multifamily and retail assets.

Mr. O’Connor’s expertise also includes assisting property owners to reduce property taxes by analyzing assets including income generation, researching comparable properties and filing appeals with the County Assessor. He is also familiar with all aspects of unlawful detainer/abandonment cases.

Career History / Professional Recognition

Mr. O’Connor joined Lee & Associates as a sales assistant and was elevated to associate status after less than a year. He previously worked for Jamison Services, Inc., a prominent real estate investment firm with a portfolio in excess of 150 properties. Earlier in his career, Mr. O’Connor served with Assessment Appeal Advisors LLC-Commercial Realty Consultants.

Representative Sales (partial list)• 80-Unit Multifamily; San Bernardino, CA; $10,250,000

• 28-Unit Multifamily; Van Nuys, CA; $4,575,000

• 9-Unit Multifamily; North Hollywood, CA; $1,580,000

• 5,165-SF Retail; Peoria, AZ; $2,735,000

Associations / Education• B.A., University of Southern California College of Letters Arts and Sciences where his academic achievements included membership in the USC Chapter of

Sigma Alpha Lambda’s Honor’s Society and Dean’s List recognition.

• California Bureau of Real Estate Salesperson License

BROKER RESUME

RYAN O’CONNORLee & Associates-LA North/Ventura, Inc.CorporateID#01191898;LicenseID#01851029A Member of the Lee & Associates Group of Companies15250VenturaBlvd.Ste.100ShermanOaks,CA91403d:818.444.4965lc:805.341.1273lf:818.385.4365E-mail:[email protected]

• 14-Unit Multifamily; Sherman Oaks, CA; $6,150,000

• 12-Unit Multifamily; Venice, CA; $3,930,000

• 15,620-SF Retail; Bakersfield; CA; $4,100,000

• 1,974-SF Retail; Fresno, CA; $2,200,000

REDEVELOPMENT OPPORTUNITY Multifamily 3569 Chesapeake ...€¦ · Redevelopment Opportunity |...

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