Each office independently owned and operated

LA Waterfront Land for Residential Development54 Residential Units/Retail or 98 Residential Units319-327 N Harbor Blvd | San Pedro, CA 90731

STEPHEN LAMPEExecutive Vice President(310) 802-2501slampe@remaxcir.comBRE #01164364

OLGA WRIGHTSenior Investment Associate(310) 802-2550owright@remaxcir.comBRE #01315042

24,205 SF Zoned C2-RD-CDO / Located in the Tier 2 TOC / 60%density bonus / over R4 density 98 residential units total

➢

Fully entitled for 54 multi-residential apartments over 1,470 square feetof commercial space with spectacular bridge to break water views

➢

Located in an Opportunity Zone - Tax Incentives & Preferential TaxTreatment

➢

Opportunity for investor/developer to build to in place entitlements orincreased density

➢

Immediate area is undergoing major redevelopment along thewaterfront | LA Waterfronts Project Website

➢

RE/MAX COMMERCIAL & INVESTMENT REALTY23001 Hawthorne Blvd, Suite 205Torrance, CA 90505(310) 802-2500www.remaxcir.com

 

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. 

LA WATERFRONT DEVELOPMENT SITE 319-327 N Harbor Blvd | San Pedro, CA 90731 SITE SURVEY ADDRESS: 319 & 327 North Harbor Boulevard

ASSESOR PARCEL NUMBER(S): 7449-014-013 & 7449-014-014

TOTAL LOT AREA: 24,205 Square Feet / Vacant

TOPOGRAPHY: Flat corner lot with access from three sides, signalized intersection

ZONING: [T] [Q] C2-2D-CDO

T.O.C. (Transportation Oriented Corridor): Yes, Tier 2

ENTITLEMENTS: APPROVED FOR: 54 residential units & 1,470 square feet commercial

ENTITLED BUILDING FOOTPRINT: As per setbacks

ENTITLED BUIDLING ENVELOPE: 70,671 square feet

ENTITLED HEIGHT: 69 feet from grade

ENTITLED F.A.R.: 3 to 1

POTENTIAL DEVELOPMENT WITH T.O.C. MAXIMUM DENSITY PERMITTED: 98 residential units

MAXIMUM HEIGHT: 86 feet from grade (no limit on stories)

MAXIMUM FAR: 5.8 to 1

MAXIMUM BUILDING FOOT PRINT: 21,744 square feet

MAXIMUM BUILDING ENVELOPE: 126,115 square feet

AFFORDABLE UNITS REQUIRED: YES, either 9% extremely low income, or 12% very low

income, or 21% low income  

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. 

OFFERING DESCRIPTION / ZONING & ENTITLEMENTS

The subject property is a 24,205 square foot corner lot at the Southwest corner of O’Farrell and Harbor Blvd in San Pedro. In 2010 the City of Los Angeles approved a zone change to C2/R4 for the construction of an approximately 70,671 square foot mixed use building containing six levels of residential use over three (two above grade and one below grade) parking levels. The project is entitled for 54 residential units and 1,470 square feet of commercial uses at the street level of the first above ground parking level. The parking plan consists of 133 parking spaces on the site including six for commercial parking and 127 for residential use. The current owner has renewed the entitlements annually and they are in place as of February 2019. Subsequent to the above entitlements being approved, the City of Los Angeles adopted zoning ordinances that incentivized developers to develop multifamily housing within specific T.O.C. (Transit Oriented Corridors). The subject property falls within a Tier 2 T.O.C. which increases the density to a total of 98 dwelling units. The F.A.R. (Floor Area Ratio) is now 5.8 to1, and the maximum height is 86 feet with no limit on maximum stories. The maximum building footprint is 21,744 square feet and the maximum building envelope is 126,115 square feet. The affordable units required within the T.O.C. is 9% extremely low income or 12% very low income or 21% low income. The property is being offered unpriced and prospective purchasers will have access to the property deal room by request.

 

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. 

LOCATION DESCRIPTION: SAN PEDRO / LOS ANGELES WATERFRONT San Pedro is a community within the city of Los Angeles, California. Formerly a separate city, it consolidated with Los Angeles in 1909. It is one of the most historic and picturesque regions in Los Angeles. It’s a unique blend of small town charm, superb cultural attractions, eclectic shopping, America’s Port and a world class cruise center. Downtown San Pedro is located very near the USS Iowa and the World Cruise Center with daily ferry service to Catalina Island. Residents and tourists enjoy the dining, unique shops, entertainment, events, art studios and merchants that are located in the heart of San Pedro. There are two major beaches in San Pedro, Cabrillo Beach and Royal Palms Beach.

The city is located at the southern end of the Palos Verdes Peninsula, on the west side of San Pedro Bay. The neighborhood fronts on the Pacific Ocean to the south and is bounded inland by Harbor City on the north, Wilmington and Long Beach on the east and the Palos Verdes Peninsula and Lomita on the west. The core submarket of downtown Long Beach is just a short 10 minute drive over the Vincent Thomas Bridge from San Pedro and is home to major employers as well as beaches, entertainment and restaurants. The Port of Los Angeles, a major international seaport, is partially located within San Pedro. The port complex occupies 7,500 acres of land and water along 43 miles of waterfront and adjoins the separate Port of Long Beach. A department of the City of Los Angeles, the Port of Los Angeles employs nearly 896,000 people throughout the LA County Region and 3.6 million worldwide creating huge demand for housing in the immediate area of San Pedro. Around $1.2 billion worth of cargo comes in and out each day at the Los Angeles Port making it the busiest port in the nation.

 

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. 

LA WATERFRONT COMPLETED & ACTIVE DEVELOPMENT PROJECTS City officials and developers unveiled plans in early 2016 for turning the Ports of Call waterfront property into a hip destination with restaurants, an amphitheater and marketplace which is currently being developed. The long-awaited redevelopment is seen as a key step in transforming San Pedro's once industrial waterfront into a regional destination that includes dining, music and tourist attractions — set to the backdrop of the nation's busiest port. The new Ports O' Call, to be renamed the San Pedro Public Market, is set to open in 2020. The current fishing village has been demolished and is being replaced with 16 acres of restaurants, fresh markets, retail shops, and small offices. When complete, the project will be fronted by a waterfront promenade that will stretch more than half a mile and San Pedro's waterfront Red Car will provide public transportation to the center from the Cruise Ship terminal on the North, as well as from the 22nd Street landing boat harbor to the South. The subject property is walking distance to the cruise ship terminal & San Pedro Public Market. “We have the opportunity to do something special along the water front, just as it's been done in a lot of other cities,” said Wayne Ratkovich, president of L.A.-based Ratkovich

Co., which has partnered with Jerico Development on the project. The project will be privately financed by the developers, while the Port of Los Angeles is paying to upgrade the infrastructure in the area. Other cities that have redeveloped their waterfront include San Francisco, which demolished the bay side Embarcadero Freeway in the early 1990s and a decade later turned the Ferry Building into a bustling food hall. Baltimore has also had success in redeveloping its Inner

Harbor. San Pedro already opened a $32-million promenade and small harbor inlet in 2014 on Harbor Boulevard designed to host festivals and movie nights. A $125-million revamp of the Cabrillo Way Marina wrapped up in 2011, and the battleship Iowa opened to visitors a year later. In 2012, a marketplace known as Crafted opened, and a micro-brewery with tasting room debuted in 2017. In all, the port plans to have invested $1 billion by 2026, breathing new life into the waterfront from Wilmington to San Pedro, which has been rebranded the L.A. Waterfront. Grading for the new construction of San Pedro Public Market is already underway. Ratkovich said he wants to create a marketplace on par with the Ferry Building in San Francisco and Pike Place Market in Seattle. The 400 acres of LA WATER FRONT is an untapped asset with great potential whose time has come.

 

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. 

LA WATERFRONT COMPLETED & ACTIVE DEVELOPMENT PROJECTS

The nonprofit organization AltaSea is transforming City Dock N. 1, a 100-year-old pier, into a world-class urban marine research and innovation center. Developed through a partnership with the Port of Los Angeles and the Southern California Marine Institue (SCMI), a collaboration of regional public and private universities, as well as founding support from the Annenburg Foundation, AltaSea accelerates scientific collaboration, facilities job creation, and inspires the next

generation for a more sustainable ocean. AltaSea’s 35-acre campus will bring people together to expand science-based understanding of the ocean: incubate and sustain ocean related business, and pioneer new ocean-related education programs. Funding commitments for Phase 1 of the project include $32 million in capital investments by the Port of Los Angeles. All of the above redevelopment of the LA WATERFRONT is expected to have a major impact on creating employment and a destination oriented waterfront which will have a huge impact on the demand for housing in San Pedro.

MAP OF DEVELOPMENT PROJECTS / LA WATERFRONT319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.

AERIAL MAP319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.

AERIAL MAP319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.

PARCEL MAP319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.

VICINITY AERIAL MAP319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.

REGIONAL AERIAL MAP319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

LOCATION MAP319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

DEMOGRAPHICS319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

Population 1 Mile 3 Mile 5 MileMale 10,948 (51.49 %) 62,000 (49.80 %) 122,485 (49.87 %)Female 10,316 (48.51 %) 62,508 (50.20 %) 123,109 (50.13 %)Total Population 21,264 124,508 245,594

Age Breakdown 1 Mile 3 Mile 5 MileAges 0-4 1,443 (6.79 %) 7,672 (6.16 %) 14,478 (5.90 %)Ages 5-9 1,691 (7.95 %) 9,257 (7.43 %) 17,571 (7.15 %)Ages 10-14 1,535 (7.22 %) 8,608 (6.91 %) 16,476 (7.15 %)Ages 15-19 1,494 (7.03 %) 8,423 (6.77 %) 16,308 (6.64 %)Ages 20-24 1,569 (7.38 %) 8,609 (6.91 %) 16,905 (6.88 %)Ages 25-29 1,621 (7.62 %) 8,548 (6.87 %) 16,778 (6.83 %)Ages 30-34 1,584 (7.45 %) 8,335 (6.69 %) 16,299 (6.64 %)Ages 35-39 1,525 (7.17 %) 8,341 (6.70 %) 16,351 (6.66 %)Ages 40-44 1,500 (7.05 %) 8,577 (6.89 %) 16,839 (6.86 %)Ages 45-49 1,490 (7.01 %) 8,848 (7.11 %) 17,308 (7.05 %)Ages 50-54 1,369 (6.44 %) 8,376 (6.73 %) 16,627 (6.77 %)Ages 55-59 1,187 (5.58 %) 7,595 (6.10 %) 15,263 (6.21 %)Ages 60-64 961 (4.52 %) 6,500 (5.22 %) 13,213 (5.38 %)Ages 65-69 744 (3.50 %) 5,197 (4.17 %) 10,746 (4.38 %)Ages 70-74 522 (2.45 %) 3,961 (3.18 %) 8,314 (3.39 %)Ages 75-79 385 (1.81 %) 2,908 (2.34 %) 6,141 (2.50 %)Ages 80-84 233 (1.10 %) 1,886 (1.51 %) 4,020 (1.64 %)Ages 85+ 411 (1.93 %) 2,867 (2.30 %) 5,957 (2.43 %)

DEMOGRAPHICS319-327 N Harbor Blvd | San Pedro, CA 90731

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

Household Income 1 Mile 3 Mile 5 MileMedian Income $32,799 $52,582 $57,278Less than $10,000 826 2,418 4,157$10,000 -$14,999 1,103 3,274 4,963$15,000 - $19,999 813 2,684 4,328$20,000 -$24,999 537 2,380 4,193$25,000 - $29,999 508 2,431 4,464$30,000 - $34,999 474 2,223 4,101$35,000 - $39,999 262 1,923 3,795$40,000 - $44,999 183 1,734 3,370$45,000 - $49,999 317 1,585 3,090$50,000 - $59,999 586 3,318 6,420$60,000 - $74,999 470 3,573 8,084$75,000 - $99,999 702 5,252 10,752$100,000 - $124,999 185 3,537 7,172$125,000 - $149,999 33 2,231 4,665$150,000 - $199,999 103 2,236 4,774Greater than $200,000 25 1,988 4,560

Housing 1 Mile 3 Mile 5 MileHousing Units 7,754 47,176 90,073Occupied Units 7,084 44,003 84,628Owner Occupied Units 1,542 19,363 43,684Renter Occupied Units 5,542 24,640 40,944Vacant Units 670 3,173 5,445

Race Demographics 1 Mile 3 Mile 5 MilePopulation Non Hispanic White 9,853 72,136 129,676Population Black 1,532 4,894 11,992Population Am In/Ak Nat 73 328 487