BRANDON

MICHAELS
GROUP

1936
HILLHURST AVENUE
LOS ANGELES,
CA 90027

OFFERING MEMORANDUM
 La La Casting

2 3
 Contents I. EXECUTIVE SUMMARY

II. PROPERTY OVERVIEW

III. INVESTMENT HIGHLIGHTS

Maru Coffee
IV. FINANCIALS (AVAILABLE UPON REQUEST)

V. SALES COMPARABLES

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 Executive
Summary
Marcus & Millichap is pleased to present the opportunity to purchase 1936 Hillhurst Avenue, a 2,765
square-foot multi-tenant mixed use retail & office building located in the heart of Los Feliz Village,
one of L.A.’s most trendy and walkable commercial districts.

1936 Hillhurst Avenue is currently 100% occupied. Maru

Coffee, the solitary retail tenant, began its occupancy in
2016 and has quickly become the go-to coffee spot on
Hillhurst Avenue, and is regarded by many as the best
coffee in Los Feliz. The remainder of the property consists
of office space tucked behind the coffee shop, with indi-
vidual access to each unit and private, gated parking in the
rear of the property. The property has been meticulous-
ly maintained and improved over time and the attention to
detail along with the small unit sizes makes the property
extremely attractive to a wide variety of potential tenants.

The property is ideally positioned along Hillhurst Avenue,

north of Franklin Avenue and south of Clarissa Avenue,
directly next door to the popular Mustard Seed Café. The
property is surrounded by a variety of unique shopping
and dining destinations, bars, a neighborhood movie
house, an independent bookstore, under-the-radar
boutiques, and a number of longstanding local business-
es, which give Los Feliz its distinctive small town vibe.

1936 Hillhurst Avenue offers an investor the unique oppor-

tunity to purchase a prime asset along a coveted street
Maru Coffee where properties rarely change hands. Los Feliz is well-lo-
cated in Los Angeles, just minutes away from Downtown
Los Angeles, Hollywood, and Silver Lake. Rapid develop-
ment in these bordering neighborhoods will further add
value to the immediate area over time.

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 Property

h i l l hu rst avenue
1936
HILLHURST AVENUE
LOS ANGELES,
CA 90027

Overview
f ra n k l i n avenue
1936 Hillhurst Avenue,
ADDRESS
Los Angeles, CA 90027

ASKING PRICE $2,850,000

CURRENT CAP RATE 1.76%

PROFORMA CAP RATE 4.21%

PRICE/SF (BLDG) $1,030.74

BLDG SF 2,765 SF

LOT SIZE 6,752 SF

APN 5590-011-009

YEAR BUILT 1925

ZONING LAC4

TYPE OF OWNERSHIP Fee Simple

1936 Hillhurst Avenue is surrounded

by a variety of unique shopping and
dining destinations, and a number of
longstanding local businesses, which 1936 Hillhurst Avenue
give Los Feliz it’s distinctive small
town vibe.

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 Restauratnts/Bars

Points of Interest
Coffee Shops
RD
E VA
O UL
B
LIZ
S FE Little Dom’s
LO Cafe Los Feliz
Blue Bottle Coffee
Vinoteca Farfalla ABC
Jeni’s Splendid Ice Creams
Albertson’s
Mustard Seed Cafe

Alcove

Drawing Room

1936
HILLHURST AVENUE IN
AV
EN
UE
Ye Rustic Inn
Vegan
Home Restaurant
Green Leaves
Desert Rose

LOS ANGELES, KL
CA 90027 AN
FR

VER HILLH
MON URST
T AV AVEN
ENU U E
E Los Feliz Theatre
Bru Coffeebar

House of Pies Skylight Books

Figaro Bistrot
Dresden Restaurant &
Lounge Umami Burger
Go Get Em Tiger
Rockwell Table & Stage

1739 Public House Starbucks Covell

Kismet McConnell’s Fine Ice
Creams
Machos Tacos

Los The Clubhouse

Feliz BO
UL
EV
AR
D
ET
NS

BARNSDALL ART PARK

SU

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Investment
Highlights
IRREPLACEABLE LOS FELIZ LOCATION
Located at the heart of Los Feliz on Hillhurst Avenue. Hillhurst Avenue is the main retail
corridor in Los Feliz. The walkable district includes trendy and hip restaurants and
eateries like Alcove, Mustard Seed Cafe, Jeni’s Splendid Ice Creams, Blue Bottle Coffee,
and more.
Healthworks

UNIQUE AND WALKABLE NEIGHBORHOOD

Hillhurst Avenue and Vermont Avenue are home to a variety of unique retailers
including independent bookstores, local businesses, upscale shopping, dining, and
nightlife.

STABLE AND SECURE INCOME

1936 Hillhurst Avenue is 100% occupied. Each tenant has 3% annual rental increases.

POPULAR RETAIL TENANT

The retail tenant, Maru Coffee, is regarded as one of the best coffee shops in Los
Feliz by coffee aficionados. Maru Coffee is currently expanding and opening a second
location in the Arts District of Downtown Los Angeles due to its success in Los Feliz.

FUTURE POTENTIAL
All tenants have 3 years or less remaining plus options, however leases can be
restructured at landlords discretion at option period.

RARE ASSET ON THE MARKET

Few assets exchange in the immediate submarket, especially store-front retail.

DENSE AND AFFLUENT DEMOGRAPHICS

The population within a 5-mile radius is 1,038,340 and average household income
within a one-mile radius is $82,049.

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 Property
Information
Location Frontage and Access APN’s
1936 Hillhurst Avenue, Los Angeles, Approximately 51 feet of frontage on The APN is 5590-011-009.
CA 90027 Hillhurst Avenue.

Traffic Counts
Site Year Built Hillhurst Avenue:
The subject property is just south The property was built in 1925. 27,080 vehicles per day
of the southest corner of Clarissa
Avenue and Hillhurst Avenue. Franklin Avenue:
Zoning 18,214 vehicles per day
The zoning is LAC4.

Square Footages Parking

The building square footage is 2,765 Six spots in the rear.
SF on a 6,752 SF lot.

Occupied Property Type

100% Retail
Office
Year Built Location Bldg SF

1925 Los 2,765

Feliz SF
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MARU COFFEE HOLISTIC HEALING THERAPY

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HEALTHWORKS LA LA CASTING

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 SALES COMPARABLES PRICE/SF

Sales
Comparables
CLOSE OF YEAR CAP
# ADDRESS SALE PRICE PRICE/SF BLDG SF LOT SF
ESCROW BUILT RATE

1922 Hillhurst Avenue,

1 $2,500,000 $1,008.06 2,480 6,752 3/3/2017 1959
Los Angeles

1922 1930 3128 W. 3709 W. 1410 N. Virgil 4889 Average

Hillhurst Hillhurst Sunset Sunset Street, Los Melrose
1930 Hillhurst Avenue, Avenue, Los Avenue, Los Boulevard, Boulevard, Angeles Avenue, Los
2 $5,000,000 $1,818.18 2,750 6,752 3/3/2017 1922 Angeles Angeles Los Angeles Los Angeles Angeles
Los Angeles

1
3128 W. Sunset
2
3 $2,500,000 $1,039.93 2,404 11,962 12/14/2016 1974
Boulevard, Los Angeles

3709 W. Sunset 1934/

4 $13,300,000 $1,267.03 10,497 15,717 1/12/2017 4.79%
Boulevard, Los Angeles 2016

5
1410 N. Virgil Street, Los
5 $700,000 $1,120.00 625 3,084 11/15/2017 1932
Angeles

4889 Melrose Avenue,

6
Los Angeles
$1,700,000 $809.52 2,100 6,490 3/14/2016 1917 4

Average $4,283,333 $1,177.12 3,476 8,460

3
6

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Area Overview
The neighborhood of Los Feliz is a rare spot in Los Angeles that
fosters a diverse, yet cohesive, creative community.
Los Feliz is a hillside neighborhood in the central region
of Los Angeles, California, abutting Hollywood and
encompassing part of the Santa Monica Mountains.
The neighborhood is named after its colonial Spanish-
Mexican land grantee, José Vicente Feliz, and, along
with present-day Griffith Park, makes up the original
Rancho Los Feliz land concession. According to the
Mapping L.A. project of the Los Angeles Times, Los
Feliz is part of Central Los Angeles. It is flanked on
the north by Griffith Park, on the northeast by Atwater
Village, on the southeast by Silver Lake, on the south
by East Hollywood, and on the northwest by Hollywood
and Hollywood Hills. With over 4,210 acres of both
natural chapparal-covered terrain and landscaped
parkland and picnic areas, Griffith Park is one of the
largest municipal parks with urban wilderness areas
in the United States and home to the famed Griffith
Observatory.
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Los Feliz Village is the southern section of Los Feliz,
home to most of the commercial storefronts in the
district. It is centered on the thoroughfares of Vermont
and Hillhurst Avenues and spans from about Prospect
Avenue to Los Feliz Boulevard. There are several coffee
shops, restaurants, and small clothing and vintage
stores. Los Feliz Village is home to numerous bars
and restaurants catering to nightlife. They are mostly
on Hillhurst Avenue between Los Feliz Boulevard and
Prospect Avenue, and on Vermont Avenue between
Franklin Avenue and Hollywood Boulevard. Some were
classic dive bars in their heyday, frequented by the
likes of Charles Bukowski, Lawrence Tierney, sundry
Los Feliz Village: One of LA’s most walkable commercial districts, this collection
working-class drunks, poets, artists, writers, and other
creative types.
of historic storefronts along Vermont and Hillhurst Avenues has it all, including
restaurants, a neighborhood movie house, an independent bookstore, and hip
clothing boutiques.
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 UNIQUE RETAILERS

Area
Overview
Glaze Fire Jeni’s Splendid Ice Cream Vista Theatre

LOS FELIZ’S RETAIL AND DINING

RESTAURANTS COFFEE SHOPS SHOPPING

• Messhall Kitchen • House of Pies • Lou Wine Shop
• Stamp Proper Foods • Bru Coffeebar • Box Brothers Los Feliz
• Little Dom’s • Starbucks • Spitfire Girl
• Mexico City • Qwench Juice Bar • Glaze Fire
• Cafe Los Feliz • Blue Bottle Coffee • Vamp Shoes
• Yuca’s • The Coffee Bean and Tea leaf • Jasmine Garden
• Farfalla • H Coffee House • Half Off Clothing Store
• Alcove • Earth Organic Juice Bar • Leap Alcove Mustard Seed Diner Cafe Los Feliz
• Qwench Juice Bar • Maru Coffee • J H Collection
• Daily Donuts • House of Pies • Kingswell
• Mustard Seed Cafe • The hanging Company
• Simply Thai • Co-op 28
POINTS OF INTEREST
• Ye Rustin Inn
• TUb Tim Siam • Barnsdall Art Park
• Green Leaves Vegan • Improv Studio
• Home Restaurant • Los Feliz Theatre
• Desert Rose • Skylight Theatre Company
• Spitz • Skylight Books
• Butter Cake Shoppe • Griffith Observatory
• Tacos Tu Madre • The Greek Theatre Home Kismet Skylight Books
• Palermo Italian
• Figaro Bistrot
• The Dresden
• 1739 Public House
• Casual Public Los Feliz’s scenic hillsides give way
• Starfish Sushi
• Sidewalk Grill to a hip and colorful commercial
• Rockwell Table & Stage
• Juan the Nice Bartenders Place district below with one-of-a-kind
shops and dining.
Dresden Go Get Em Tiger Los Feliz Theatre

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Area
Overview
Griffith Observatory

DEMOGRAPHICS

1 MILE 3 MILES 5 MILES Many of Los

2014 Population 44,260 373,721 1,038,340
Feliz’s hilltop
2014 Households 21,700 153,780 421,335
2014 Average Household Size 1.98 2.38 2.40
homes host
2014 Daytime Population 9,690 108,314 546,486 celebrity
2014 Owner Occupied Housing Units 22.51% 17.71% 19.96%
inhabitants.
2014 Renter Occupied Housing Units 77.49% 82.29% 80.04%
2014 Vacant 1.19% 2.68% 3.19%

$ 0 - $14,999 18.4% 19.3% 20.5%

$ 15,000 - $24,999 11.9% 15.8% 15.1%
$ 25,000 - $34,999 9.8% 12.6% 11.6%
$ 35,000 - $49,999 12.4% 14.1% 13.4%
$ 50,000 - $74,999 15.2% 15.5% 15.0%
$ 75,000 - $99,999 9.2% 7.8% 8.1% Los Feliz’s cafes,
$100,000 - $124,999 7.4% 5.3% 5.6%
diners, and envelope-
$125,000 - $149,999 4.0% 2.9% 3.2%
$150,000 - $199,999 4.4% 2.9% 3.2% pushing culinary
$200,000 - $249,999 2.7% 1.4% 1.5% artists contribute to
$250,000 + 4.7% 2.5% 2.8%
the neighborhood’s
2014 Median Household Income $47,011 $37,165 $37,862 chic reputation.
2014 Per Capita Income $40,781 $25,768 $26,715
2014 Average Household Income $82,049 $61,733 $64,618

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