The site is zoned R4-1 and by right includes a 35% bonus density, which would allow for a total of between 12 and 15

condominium units to be built. The current owner has tenative plans for either 12 two bedroom units at 1,200 SF ea.

or 9 three bedroom units at 1,500 SF ea., and ground and underground garage parking. Recent condominium sales

for units built in 2004 and 2005 on Dickens have been between $599,000 and $870,000 per unit, or between $380 SF

and $512 SF. Buyer to verify all zoning and building codes with the City of Los Angeles.

Located on the Southwest corner of Sutton St. and Sepulveda Blvd. this property is ideally located at the base of the

Sepulveda Pass and provide easy access for residents to the employment centers on the Westside, and via Beverly

Glen access to Beverly Hills and Century City. The property is located just north of the 405 Freeway's south bound

on-ramp and just south of the new 405 Freeway's north bound on-ramp. It is also very close to Ventura Blvd. and the

101 Freeways. Within walking distance are retail amenities such as Whole Foods and the new Sherman Oaks

Galleria, as well as many other resturants, shopping and office towers near Sepulveda and Ventura. Bordered by

Encino and Studio City, this location is in the middle of one of the most affluent areas in the San Fernando Valley, with

an average household income within one mile exceeding $105,000.

The lot size is 8,560 SF and the current improvement of 5,414 SF consists of 5 units built in 1949, including one 4 Bd

+ 2 Ba townhouse unit and four 1 Bd + 1 Ba units. The total gross annual income is $86,400. There is parking for six

cars in the rear of the property with two double garages and a single garage and one small lot space. The property is

surrounded by a corridor of newer three story condominiums and luxury rental units. This corner lot offers access

from three sides. APN: 2276-042-001