DEVELOPMENT SITE ±0.44 ACRES OF LAND UP TO 85 UNITS ...

Century City

Beverly Hills

Pacific Ocean

S SAN VICENTE BLVDS SAN VICENTE BLVD

S ORLANDO AVE

S ORLANDO AVE

S SWEETZER AVE

S SWEETZER AVE

LA CIENEGA BLVD LA CIENEGA BLVD

W 3RD STREET

W 3RD STREET

TIER 2 TRANSIT ORIENTED COMMUNITY

DEVELOPMENT SITEUP TO 85 UNITS

LAURIE LUSTIG-BOWER Executive Vice President Lic. 00979360 +1 310 550 [email protected]

KADIE PRESLEY WILSONFirst Vice President Lic. 01476551+1 310 550 [email protected]

OFFER DUE DATE: FRIDAY, OCTOBER 29, 2021 BY 5:00PM

www.8339Third.com

8339 W. 3RD STREET

Beverly Grove

±0.44 ACRES OF LAND NWC 3RD & FLORES

W 3

RD S

TW

3RD

ST

S FLORES STS FLORES ST

8339 W. 3RD STREET

WHOLE FOODS

SIMPLETHINGSCHICAS TACOSUBATUBA ACAI

THE GROVETHE ORIGINAL FARMERS MARKET

TRADER JOE'SMENDECINO FARMS

SIDECAR DOUGHNUTS & COFFEE

TOAST BAKERY CAFE

CREDO CLEAN BEAUTY

JOAN’S ON THIRD

DOWNTOWN LOS ANGELES MIRACLE MILE

MERCADOWANDERLUST CREAMERY

ROBATA JINYA

THE LITTLE DOOR

AESOPSON OF A GUN

2NWC 3RD AND FLORESwww.8339Third.com

TABLE OF CONTENTS

01 Executive Summary 6

02 Property Overview 11

03 Market Overview 14

04 Area Overview 19




www.8339Third.com

BeverlyBeverlyCenterCenter The GroveThe Grove

The OriginalThe OriginalFarmers MarketFarmers Market

±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES

01±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES

EXECUTIVE SUMMARY

Executive SummaryTHE OPPORTUNITYCBRE, Inc., as exclusive agent, is pleased to present for sale a TOC Tier 2 development opportunity to build up to 85 residential units on West 3rd Street in an excellent Beverly Grove location.

8339 W. 3rd Street is a ±0.44 acre site situated at the northwest corner of W. 3rd Street and N. Flores Street, between La Cienega and Crescent Heights Boulevards. It boasts a WalkScore of 92 out of 100 - a "Walker's Paradise" and is walking distance to the Beverly Center, The Grove, The Original Farmers Market as well as numerous retail shops and restaurants along West 3rd Street.

The property is currently improved with a surface parking lot and a ±12,000 square foot non-profit community center and school building, to be delivered vacant by the close of escrow.

The vibrant Beverly Grove submarket includes a wealth of chic restaurants and boutique retail, as well as cultural and recreational venues. Beverly Hills, Century City, Hollywood, West Hollywood and Mid-Wilshire/Miracle Mile are immediately accessible.

The site is also walking distance to key local employer, Cedars-Sinai Medical Center, a world class hospital with ±17,346 employees (2021).

NEARBY COMMERCIAL SHOPPING DISTRICTS: » West 3rd Street » Beverly Center

» The Grove and The Original Farmers Market » Famed Sunset Strip and Melrose Avenue

W 3RD STW 3RD ST


8339 W. 3RD STREET

OFFER DUE DATE: Friday, October 29, 2021 by 5:00pm

8339 W. 3RD STREET IS OFFERED TO THE MARKET ON AN UNPRICED BASIS.

For additional information, please visit:www.8339Third.com

5EXECUTIVE SUMMARYwww.8339Third.com

Opportunity HighlightsTransit Oriented Community (TOC) Tier 2 Site Potential to Build up to 85 Residential Units in Highly Desirable Beverly Grove Location

Excellent Urban Infill Location

» WalkScore of 92 out of 100 » Proximity to Employment, Commercial Districts, Entertainment and Shopping » Walk to the Beverly Center, Trader Joe’s, Target, shops and restaurants along West 3rd Street

Strong Multifamily Demand Drivers

» 96.2% Submarket Historical Average Occupancy

Exceptional Income and Educational Demographics (0.5 mile radius)

» $172,973 Projected 2026 Average Household Income » 70.6% of the 2021 Adult Population have a Bachelor’s, Graduate or Professional Degree

2021 Owner-Occupied Units (0.5 mile radius)

» Median Value: $1,605,721 » Average Value: $1,589,534


S ORLANDO AVE

S ORLANDO AVE

SON OF A GUN

MELROSE AVEMELROSE AVE

8500 Burton WayTrader Joe's

SLS HOTELLA CIENEGA BLVD

LA CIENEGA BLVD

ROSALINE

PETCOJAR

NIC’S ON BEVERLY

BLUE BOTTLE COFFEE

BAO DIM SUM HOUSE

WEST ELM

BEVMO

TOAST BAKERY CAFE

ELECTRIC KARMAPLANCHA TACOS

MAGNOLIA BAKERY

THE ORLANDO

PETSMART

SAN VIC

ENTE

BLVD

SAN VIC

ENTE

BLVD

S SW

EETZ

ER A

VE

S SW

EETZ

ER A

VE

S LA JOLLA AVE

S LA JOLLA AVE

W 3RD STW 3RD ST

BERRI’S CAFE

SOFITEL LOS ANGELESCEDARS-SINAI MEDICAL CENTER

±17,346 Employees (2021)

BEVERLY BLVDBEVERLY BLVD

8339 W. 3RD STREET

Armani Exchange AppleBalenciagaBanana RepublicBloomingdale'sBurberryCoachDolce & GabbanaFendiGucciH&MKiehl's

Louis VuittonMacy'sPradaSalvatore FerragamoSandroSephoraTiffany & Co.Tocaya OrganicaUni QloVersaceZara& many, many more

BEVERLY CENTER

Target Nordstrom Rack Saks OFF 5th

Old Navy TJ Maxx Corner Bakery

BEVERLY CONNECTION

E.P. & L.P.

WEST HOLLYWOOD

BEVERLY GROVE


BEVERLY Connection TJ Maxx

THE ORLANDO

W 3RD ST

W 3RD ST

SON OF A GUN S ORLANDO AVES ORLANDO AVE

WILSHIRE BLVDWILSHIRE BLVD

ROBATA JINYA

S SA

N VI

CENT

E BL

VDS

SAN

VICE

NTE

BLVD

FUTURE METRO WILSHIRE/FAIRFAX

PETERSEN AUTOMOTIVE MUSEUM

LA BREA TAR PITS AND MUSEUM LOS ANGELES COUNTY MUSEUM OF ART

ACADEMY MUSEUM OF MOTION PICTURES

Whole Foods

MERCADO

THE ORIGINAL FARMERS MARKET

THE LITTLE DOOR

TOAST BAKERY CAFE

BEVERLY BLVD

BEVERLY BLVD

TOCA MADERA

MAGNOLIA BAKERY

DRY BAR

JOAN’S ON THIRD

BERRI’S CAFE


FOGO DE CHÃO

LAWRY’S THE PRIME RIB

GYU-KAKU JAPANESE BBQ

KREATION ORGANIC KAFE& JUICERY

THE IZAKA-YA BYKATSU-YA

THE GROVE

SLS HOTEL

FAIRFAX AVEFAIRFAX AVE

LA CIENEGA BLVD

LA CIENEGA BLVD

Trader Joe'sMendocino Farms

Paper SourceELECTRIC KARMA

8339 W. 3RD STREET

DOWNTOWN LOS ANGELES

MIRACLE MILE

BEVERLY GROVE


±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES

PROPERTY OVERVIEW02

8339 W. 3RD STREETLos Angeles, CA 90048PROPERTY AT A GLANCE

5511-016-016 APN

± 19,313 SF Lot Size

C2-1 VL-0 Zoning

TIER2 Transit Oriented

Community

UP TO 85 Units

CD-5, COUNCILMEMBER PAUL KORETZ City Council District

±183 FEET ALONG W. 3RD STREET±110 FEET ALONG S. FLORES STREET

Frontage

INSTITUTE OF JEWISH EDUCATION(DELIVERED VACANT)

Current Use

10PROPERTY OVERVIEWwww.8339Third.com

8339 W. 3RD STREETLos Angeles, CA 90048EXISTING IMPROVEMENTS

±12,274 SF Non-Profit

Community Center and

School Building(Delivered Vacant)

1950 Year Built

±17 Surface Parking Spaces

11PROPERTY OVERVIEWwww.8339Third.com

±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES

MARKET OVERVIEW03

Land Sale ComparablesCRITERIA: PROPERTIES LOCATED WITHIN A 3.0 MILE RADIUS OF SUBJECT PROPERTY, SOLD FROM 8/1/18 - 8/12/21 Over $600 PSF

PROPERTY ADDRESS CITY ZIP SALE PRICE LAND SIZE SF PRICE PER SF SALE DATE ZONING9200 Wilshire Blvd Beverly Hills 90212 $130,000,000 40,737 $3,191 05/08/19 C3

429 N Palm Dr* Beverly Hills 90210 $15,607,839 8,250 $1,892 08/10/18 BHR4

9176 W Sunset Blvd West Hollywood 90069 $29,150,000 18,164 $1,605 12/03/19 WDC2A

9900 Wilshire Blvd Beverly Hills 90210 $445,000,000 332,028 $1,340 11/19/18 C3

8635 Wilshire Blvd Beverly Hills 90211 $16,000,000 12,758 $1,254 12/22/20 C3

1014 N La Brea Ave* Los Angeles 90038 $14,925,927 12,683 $1,177 11/25/19 WDC2A

659 S La Brea Ave Los Angeles 90036 $5,000,000 4,356 $1,148 09/23/19 C2-1

8844 Burton Way Beverly Hills 90211 $27,400,000 26,779 $1,023 06/21/19 BHR4YY

8457 Blackburn Ave Los Angeles 90048 $6,550,000 6,978 $939 12/23/19 R3

7500-7580 W. Sunset Blvd* Los Angeles 90046 $61,950,000 71,438 $867 07/01/20 C4

1056 S La Cienega Blvd Los Angeles 90035 $15,100,000 18,021 $838 07/16/21 LAC2

6450 W Sunset Blvd Los Angeles 90028 $25,000,000 33,501 $746 09/09/20 -

329-335 S Robertson Blvd Los Angeles 90048 $10,100,000 13,743 $735 11/15/19 C3YY

129 S Linden Dr Beverly Hills 90212 $16,000,000 21,780 $735 10/28/19 R4P

1410 Glenville Dr Los Angeles 90035 $12,000,000 17,424 $689 09/11/20 LAC4

1541 S Orange Grove Blvd Los Angeles 90019 $4,500,000 6,886 $653 11/30/18 LAR3

1424-1428 Wilcox Ave Los Angeles 90028 $20,000,000 31,167 $642 09/09/20 -

1022-1054 La Cienega Blvd Los Angeles 90035 $33,000,000 53,239 $620 07/15/21 LAC2

*Part of Multi-Property Sale Source: CoStar, Sorted by Price Per Square Foot

© 2021 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

13MARKET OVERVIEWwww.8339Third.com

Apartment Sale ComparablesCRITERIA: PROPERTIES LOCATED WITHIN A 1.0 MILE RADIUS OF THE SUBJECT PROPERTY, SOLD FROM 08/01/19 - 08/05/21 Units: 5-100, $700 PSF

PROPERTY ADDRESS CITY ZIP UNITS SALE PRICE $/SF BLDG SF BUILT DATE750-756 N Edinburgh Ave Los Angeles 90046 8 $4,700,000 $1,104 4,256 1923 03/24/20

8736 Rangely Ave West Hollywood 90048 6 $3,300,000 $980 3,368 1924 01/21/21

8377-8387 Blackburn Ave Los Angeles 90048 13 $10,760,000 $833 12,922 1929 08/21/19

244 N Clark Dr Beverly Hills 90211 8 $5,100,000 $787 6,484 1930 01/28/21

639 N Fairfax Ave Los Angeles 90036 63 $36,000,000 $730 49,338 2018 12/18/19

210 S Hamilton Dr Beverly Hills 90211 10 $6,350,000 $704 9,022 1957 09/03/20

202 N La Peer Dr Beverly Hills 90211 8 $4,425,000 $702 6,300 1931 03/22/21

*Part of Multi-Property Sale

CRITERIA: PROPERTIES LOCATED IN LOS ANGELES COUNTY, SOLD FROM 8/1/19 - 8/12/21 Units: 20+, Over $700 PSF

PROPERTY ADDRESS CITY ZIP UNITS SALE PRICE $/SF BLDG SF BUILT DATE1915 Ocean Way Santa Monica 90405 70 $39,500,000 $1,166 33,878 1964 04/29/21

901 Ocean Ave Santa Monica 90403 28 $32,600,000 $1,053 30,954 1961 02/19/21

2501 Pico Blvd Santa Monica 90405 174 $58,550,000 $868 67,441 1960 11/25/19

2891 University Ave Los Angeles 90007 25 $7,500,000 $867 8,646 1947 07/30/21

639 N Fairfax Ave Los Angeles 90036 63 $36,000,000 $730 49,338 2018 12/18/19

8250 Lankershim Blvd North Hollywood 91605 196 $27,320,000 $723 37,780 1952 06/11/20

3510 Maricopa St Torrance 90503 180 $74,160,000 $718 103,228 1973 02/06/20

318 W Wilson Ave Glendale 91203 164 $90,700,000 $704 128,790 2018 03/15/21

Source: CoStar, Sorted by Price Per Square Foot © 2021 CBRE, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.


Rent Survey Map

A Rent Survey can be found in the property data room at www.8339Third.com

Empire at Burton Way

105 Doheny

Fiona

8500 Burton Way

Empire at Kings Empire at Norton

Hayworth Hyde

±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES


Rent Survey Comparable UnitsSTUDIO Size Avg

Asking RentAvg Asking Rent PSF

Concessions Avg Effective Rent

Avg Effective Rent PSF

Walkscore Year Built Parking Included

#4 Fiona 375 N La Cienega Blvd 404 $2,392 $5.92 2 Weeks Free $2,292 $5.67 88 2015 Yes

ONE BEDROOM Size Avg Asking Rent

Avg Asking Rent PSF




#1 8500 Burton Way 8500 Burton Way 900 $6,000 $6.67 None $6,000 $6.67 93 2012 Yes

#3 105 Doheny 105 S Doheny Dr. 725 $4,500 $6.21 None $4,500 $6.21 87 2020 Yes

#3 105 Doheny 105 S Doheny Dr. 800 $4,700 $5.88 None $4,700 $5.88 87 2020 Yes

#3 105 Doheny 105 S Doheny Dr. 1,000 $5,600 $5.60 None $5,600 $5.60 87 2020 Yes

#4 FIONA 375 N La Cienega Blvd 525 $3,200 $6.10 2 Weeks Free $3,067 $5.84 88 2015 Yes

#4 FIONA 375 N La Cienega Blvd 788 $3,620 $4.59 2 Weeks Free $3,469 $4.40 88 2015 Yes

TWO BEDROOM Size Avg Asking Rent

Avg Asking Rent PSF




#1 8500 Burton Way 8500 Burton Way 1,600 $9,000 $5.63 None $9,000 $5.63 93 2012 Yes

#2 Empire at Burton Way 9265 Burton Way 1,525 $7,400 $4.85 None $7,400 $4.85 91 2017 Yes

#2 Empire at Burton Way 9265 Burton Way 1,680 $8,000 $4.76 None $8,000 $4.76 91 2017 Yes

#4 Fiona 375 N La Cienega Blvd 1,231 $5,290 $4.30 None $5,070 $4.12 88 2015 Yes

#4 Fiona 375 N La Cienega Blvd 1,277 $5,890 $4.61 None $5,645 $4.42 88 2015 Yes

#5 Empire at Kings 1232 N Kings Rd 1,230 $5,200 $4.23 None $5,200 $4.23 90 2013 Yes

#6 Empire at Norton 8017 Norton Ave 1,430 $6,400 $4.48 None $6,400 $4.48 90 2019 Yes


#7 Hayworth Hyde 409 N Hayworth Ave 938 $3,919 $4.18 None $3,919 $4.18 93 2016 Yes

THREE BEDROOM Size Avg Asking Rent

Avg Asking Rent PSF








±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES

AREA OVERVIEW04

7,115 BUSINESSES

62,678 EMPLOYEES

WITHIN .5 MILE

8339 W. 3RD STREETDemographic Summary

8339 W. 3RD STREET .5 RADIUS

DEMOGRAPHIC COMPREHENSIVE

8339 W 3RD ST

NAME LATITUDE LONGITUDE

8339 W 3RD ST 34.0730539867995 -118.371511995034

©2021 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are forexample only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the propertyfor your needs. Source: Esri ProjectID:819545

0.5 MILE

40,010 2026 POPULATION

39,0832021 POPULATION

$172,973 2026 PROJECTED AVERAGE HOUSEHOLD INCOME

$1,589,5342021 MEDIAN

OWNER-OCCUPIED HOUSING VALUE

70.6%OF ADULT POPULATION

HAVE A BACHELOR’S, GRADUATE OR

PROFESSIONAL DEGREE

±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES

18AREA OVERVIEWwww.8339Third.com

33% HOUSEHOLD INCOME OF

$150,000 OR HIGHER

$149,2582021 AVERAGE

HOUSEHOLD INCOME

$172,9732026 AVERAGE

HOUSEHOLD INCOME

57.1% HOUSING VALUE OF

$1,500,000 OR HIGHER

$1,605,7212021 MEDIAN VALUE

OF OWNER OCC. HOUSING UNITS

$1,589,5342021 AVERAGE VALUE

OF OWNER OCC. HOUSING UNITS

WITHIN 1 MILE RADIUS

8339 W. 3RD STREETDemographic Summary

4,238 2015-2019

HOUSING UNITS

1.7%HOUSING UNITS BUILT

LATER THAN 2010

19532015-2019 MEDIAN

YEAR BUILT

WITHIN .5 MILE RADIUS

0.5 MI

1 MI

1

© Mapbox, © OpenStreetMap

1 MILE

.5 MILE

±0.44 ACRES

8339 W. 3RD STREET

NWC 3RD AND FLORES


Area Amenities

8339 W. 3RD STREET

WEST THIRD STREET“With over one hundred destination shops, acclaimed restaurants, and independent specialty stores, West 3rd Street is the most walkable dining and shopping district in Los Angeles. Comprised of six connecting blocks between La Cienega and Fairfax, West 3rd Street is just moments from The Grove, the original Farmer’s Market, the Beverly Center, and The LosAngeles County Museum of Art (LACMA). With public valet service and street parking available every day, West 3rd Street is a prime mid-city resource for men, women, children and pets. Discover established and trendsetting clothing, accessories and optical boutiques, top beauty bars and fitness studios, chic home furnishing, premier art finds, local craft specialties, and the best bars, gourmet cafes, and hidden foodie finds.” - west3rdstreet.com

BEVERY GROVE“Beverly Grove is an upscale neighborhood which borders the independent cities of West Hollywood and Beverly Hills. The neighborhood is best known for the popular West 3rd Street shopping district, as well as the landmark Beverly Center mall complex. Cedars-Sinai, one of the premier hospitals in Southern California, also calls Beverly Grove home.”

- UrbanizeLA

Area Overview


WEST HOLLYWOODWest Hollywood, referred to locally as WeHo, is a trendy area known for its high-energy nightlife. The fabled Sunset Strip features the Chateau Marmont, a swanky celebrity hideaway, plus comedy clubs and live music venues like the legendary Whiskey a Go Go. Santa Monica Boulevard, awash in rainbow flags, is home to a number of gay bars, dance clubs and shops. WeHo also offers some of the city’s most buzzworthy restaurants. West Hollywood is bordered on the north by the Hollywood Hills, on the east by Hollywood and to the west by Beverly Hills. West Hollywood is known for its extreme density and walkable street grid.

From SoHo House to Chateau Marmont, Sunset Boulevard offers plenty of ways to play, relax and blow off steam. People from around the world flock here to bask in the inimitable character of Hollywood. Known colloquially as WeHo, the city’s hub of entertainment, dining and nightlife is centered on Sunset and Santa Monica Boulevards, with its Avenues of art & design along Melrose, Beverly and La Cienega. West Hollywood is known for its high concentration of high profile retail and entertainment destinations, making it truly the place to see and be seen in Southern California. West Hollywood is famous for its population of both the radical and refined, making it the ideal location for both retail and multi-family housing.


MELROSEMelrose Avenue is about a fifteen-minute walk from the Property. Melrose Avenue is one of LA’s premiere high street shopping districts. The street encompasses a mix of luxury brands such as Marc Jacobs and Theory to mass market stores like Urban Outfitters and Starbucks. Melrose is home to some of the trendiest restaurants and shops in Los Angeles. Melrose is an east-west street located about a mile from Hollywood Boulevard and less than one mile from the world famous The Grove Shopping Center and The Original Farmers Market. The 2 mile stretch of Melrose is surrounded by some of the most affluent, high income residential neighborhoods in Los Angeles.


BEVERLY HILLS8339 W. 3rd Street is about five blocks to Beverly Hills. The city is one of the most celebrated, in-demand destinations in the world. A name long associated with sophistication, glamour and elegance, it is a distinguished city offering the very best in hotels, shopping, dining and service. Incorporated in 1914, Beverly Hills has since attracted waves of movie stars, entertainers and business executives who have sought to live and build their fortunes in this illustrious place of wealth and beauty. The city is a world class destination and attracts 6 million tourists a year from around the globe to shop, dine, and rub shoulders with Hollywood’s elite. Beverly Hills, West Hollywood, and adjacent Bel Air, Westwood and Century City encompass some of the most exclusive, private luxury residences in the world, with home prices among the highest in greater Southern California and the United States.


AREA AMENITIES

8339 3RD STIS APPROXIMATELY AN EIGHT-MINUTE DRIVE

TO THE BEVERLY HILLS GOLDEN TRIANGLE

HOLLYWOODA larger-than-life symbol of the entertainment business, Hollywood beckons tourists with landmarks like TCL Chinese Theatre and star-studded Walk of Fame. Highlights include Paramount Pictures, historic music venues like the Hollywood Bowl, and Dolby Theatre, home of the Oscars. Scenesters can choose from improv comedy clubs, retro-cool bars and velvet-roped nightclubs. Locals frequent eateries in nearby Thai Town.


Employer Map

SANTA MONICACULVER CITY

WESTHOLLYWOOD

CENTURY CITY

DOWNTOWNLOS ANGELES

BURBANK

GLENDALE

BURBANK GLENDALE

HOLLYWOOD

CENTURY CITY / BEVERLY HILLS

DOWNTOWN LOS ANGELES

HOLLYWOOD

BEVERLY HILLS

CULVER CITY

SANTA MONICA

SITEUniversity of University of California, California,

Los AngelesLos Angeles

University University of of

Southern Southern CaliforniaCalifornia

MID-WILSHIRE


SITE

Transportation LinkagesThe Property is approximately 0.7 miles from the future Wilshire/La Cienega Metro Station which will be serviced by the Purple Line. Metro Rail is the rapid transit rail system consisting of six separate lines (the Blue, Red, Purple, Green, Gold and Expo Lines) which cumulatively serve 92 stations throughout Los Angeles County. The Purple Line currently terminates at Wilshire/Western Station in the heart of Koreatown.

The currently under construction Purple Line Expansion will eventually extend to West Los Angeles, offering a dependable alternative for commuters traveling between Downtown Los Angeles, Beverly Hills, Century City and Westwood/UCLA. It is anticipated that the Westwood/VA Hospital Metro Station will be operational by 2027.


W 3RD ST

W 3RD ST

8500 BURTON WAYTRADER JOE'S

8339 W. 3RD STREET


BEVERLY CENTER

TARGET

MAGNOLIA BAKERY

SON OF A GUN

JOAN’S ON THIRD

TOCA MADERA

BEVERLY HILLS


SANTA MONICA BLVDSANTA MONICA BLVD

LA CIENEGA BLVD

LA CIENEGA BLVD

SOFITEL LOS ANGELES

BEVERLY CENTER


FAIRFAX AVEFAIRFAX AVE

MELROSE AVEMELROSE AVEJAR

WEST HOLLYWOOD

BEVERLY CONNECITON

BEVERLY BLVDBEVERLY BLVD

WEST ELM

BLUE BOTTLE COFFEE

NIC’S ON BEVERLY

BAO DIM SUM HOUSE

TOCA MADERA

MAGNOLIA BAKERY

THE ORLANDO

W 3RD STW 3RD ST

JOAN’S ON THIRD

SON OF A GUN

KREATION ORGANIC KAFE& JUICERY

THE IZAKA-YA BYKATSU-YA

BERRI’S CAFE

W 4TH STW 4TH ST

TOAST BAKERY CAFE ELECTRIC KARMA THE LITTLE DOOR

SWEETZER AVE

SWEETZER AVE

ROBATA JINYA

8339 W. 3RD STREET

HOLLYWOOD

BEVERLY GROVE

S ORLANDO AVE

S ORLANDO AVE


AFFILIATED BUSINESS DISCLOSURECBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

CONFIDENTIALITY AGREEMENTYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

DISCLAIMERThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

Copyright Notice © 2021 CBRE, Inc. All Rights Reserved.


Century City

Beverly Hills

Pacific Ocean

S SAN VICENTE BLVDS SAN VICENTE BLVD

S ORLANDO AVE

S ORLANDO AVE

S SWEETZER AVE

S SWEETZER AVE

LA CIENEGA BLVD LA CIENEGA BLVD

W 3RD STREET

W 3RD STREET

TIER 2 TRANSIT ORIENTED COMMUNITY

DEVELOPMENT SITEUP TO 85 UNITS




www.8339Third.com

Beverly Grove

±0.44 ACRES OF LAND NWC 3RD & FLORES

8339 W. 3RD STREET

DEVELOPMENT SITE ±0.44 ACRES OF LAND UP TO 85 UNITS ...

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