Westchester Development Site 5669 W 78 th Street Los Angeles, CA 90045

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1 Westchester Development Site q Prime corner lot within the Westchester neighborhood boundaries q Total lot size is 10,892 SF with a 981 SF single-family home structure q R1 zoned lot with potential to subdivide two (2) 5,400 SF single-family residential lots q Potential rehab and opportunity to add square footage to the existing single-family residence q Property is within close proximity to LAX, Howard Hughes Center, Westfield Culver City, Loyola Marymount University and Marina Del Rey q Rare 85 feet of street frontage on both 78 th street and Kittyhawk Avenue q Price: $749,000 Evanisko Realty & Investment, Inc. BRE:

2 Westchester Development Site This brochure has been prepared to provide summary, unverified information to interested parties, and to establish only a preliminary level of interest in the subject development opportunity. 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. Any architectural renderings or entitlement information to be verified by potential buyer and Evanisko Realty & Investment, Inc. makes no warranties to the accuracy of any city approvals associated with plans. All interested parties must take appropriate measures to verify all of the information set forth herein. Please contact Evanisko Realty & Investment, Inc. for additional information and/or guidance pertaining to this opportunity. All offers and correspondence regarding this opportunity are to be directed to Evanisko Realty & Investment, Inc. (818)

3 Westchester Development Site Subject Site Property Aerial

4 Westchester Development Site 5669 W 78th Street Ki*yhawk Ave 78th St. Ki*yhawk Ave Property Pictures 7

5 This is truly a unique development opportunity to acquire a gem in one of Los Angeles most reputable neighborhoods. The subject property is tucked in a charming residential neighborhood within the Westchester community boundaries. Located just minutes to an array of amenities which include The Howard Hughes Center, Westfield Culver City, Loyola Marymount University and Los Angeles International Airport make this location a unique opportunity for a savvy residential investment. The property is cornered beautifully along Kittyhawk Avenue and 78 th street with a total lot size of 10,982 SF and a 981 SF home on the property needing much rehab work. There are two viable development options for this site. The lot can be potentially subdivided into two (2) 5,400 square foot lots for the development of one spec homes on each lot. The second option is a potential rehab and major increase of square footage to the existing SFR to build a beautifully cornered spec home. The comparables in the area have shown a healthy return on major rehabbed properties. We believe that a new product in this vicinity could have a high premium price reaching a sale close to $600 per square foot. The area is ripped for either development scenario. The investment in the area showcases a robust market with high demand for luxury residential products. Broker and Seller make no representations or warranties regarding the development potential of the property or the accuracy of the scenario presented. APN: Total Land Area: 10,892 SF Existing Improvements: 981/SF SFR (potential teardown) Zoning: R1 Community Plan Area: Westchester Playa del Rey General Plan: Low Residential Topography: Flat with slight upslope Entitlements: None Jurisdiction: Council District 11 Mike Bonin Price: $749,000 Westchester Development Site Property Summary 5

6 Westchester Development Site 5669 W 78th Street Development Scenario 1 Complete rehab of the existing 981 SF single-family residence Current structure facilitates a favorable rehab option Rehabs in the area have sold close to $600 per square foot in Westchester 2014 estimated average median household income within 1 mi. of this area is $75,594 Development Scenario 2 Potential for a two (2) lot subdivision Each lot approximately 5,400 SF Majorly rehabbed homes have sold close to $600 per square foot in Westchester Investment in Silicon Beach has fueled housing investment in the area New high-end housing product in demand as shown by recent SFR sales Development Scenarios 6

7 Westchester Development Site 5669 W 78th Street 7731 El Manor Ave. SF: 2,494 Lot: 6,297 SF Price: $1,395,000 Type: SFR Price/SF: $559 COE:12/10/ W 76th Place. SF: 2,972 Lot: 7,657 SF Price: $1,480,000 Type: SFR Price/SF: $497 COE:10/3/ W 81st St. SF: 1,029 Lot: 6,832 SF Price: $752,000 SFR: SFR Price/SF: $730 COE: 4/ Bleriot Ave. SF: 3,499 Lot: 5,993 SF Price: $1,500,000 Type: SFR Price/SF: $456 COE: Active Kentwood South Luxury Homes Lot: 18,204 SF (land) Units: 2,100 SF (12 Small Lots) Price: $500-$600/SF per unit Type: New construction Market Activity La Tijera Blvd. Lot: 51,991 SF Type: 140 apartment units Entitled: 5 story mixed-use project with 2,615 SF of ground retail COE: Active on the market 7610 Truxton Ave. SF: 3,640 Lot: 6,880 SF Price: $1,475,000 Type: SFR Price/SF: $405 COE:8/27/2014 Subject Site 5601 W 78th St. SF: 1,456 Lot: 11,798 Price: $760,000 Type: SFR / Land Price/SF: $521 COE: 7/8/2015

8 Westchester Development Site 5669 W 78th Street Westfield Culver City 2.5mi 1.5mi 3 mi 3 mi Subject Site Playa Vista (3.9 mi) Marina del Rey (6 mi) Venice Boardwalk (7 mi) 2 mi Westchester RecreaIonal Center & Golf Course (2 mi) 2.3mi Surrounding Amenities 2016 Planned NFL Stadium (4 mi) 4 mi

9 Westchester Development Site Subject Site Parcel Map 9

10 Westchester Development Site Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by the owner to handle the marketing and disposition of this land asset. Title: Fidelity National Title Insurance Company Escrow: Shamrock Escrow Tammey Bazinet Commission: 2.5% will be offered to a cooperating broker Price: $749,000 SUBMIT ALL PROPOSALS/INQUIRIES TO: Chris Martinez [email protected] O: C: ALL PROPOSALS WILL BE REVIEWED BY LANDOWNER AND BROKER AS RECEIVED. For additional information/guidance on this and other development opportunities contact: Evanisko Realty & Investment, Inc. (818) Transactional Guidance

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