Coastal OC Development Opportunity

Transcription

1 Coastal OC Development Opportunity HUNTINGTON BEACH, CA Rare opportunity to purchase approx. 1.7 acres in the Seacliff area of Huntington Beach. Nasser Mustafa Located in the Holly Seacliff Specific Plan Potential for either residential or commercial development BRE License # Exclusive Offering Memorandum

2 TABLE OF CONTENTS OPPORTUNITY OVERVIEW... 3 PROPERTY DETAILS... 4 OFFERING GUIDELINES... 5 PROPERTY AERIAL... 6 SITE PHOTOS... 7 PLAT MAP... 8 AREA MAP... 9 LOCATION AERIAL SHOPPING LOCATIONS AERIAL Main & Garfield

3 OPPORTUNITY OVERVIEW PROPERTY DETAILS OFFER DEADLINE LOCATION Approx. 1.7 Acres Offers Considered when Submitted SWC OF MAIN ST. & GARFIELD AVE. Huntington Beach, CA PROPERTY OVERVIEW ASG Development Advisors presents the opportunity to purchase a 1.7 acre vacant parcel in the highly desirable Seacliff area of Huntington Beach, CA. The property is located at the intersection of Main St. and Garfield Ave. about 2 miles from the Huntington Beach pier and Pacific City. Seacliff is the most sought after area of Huntington Beach. Average home values are the highest in the City. The Property is vacant and surrounded by newer construction, 3-story detached townhomes to the north, 3-story attached townhomes to the northeast, south, southeast, and southwest. Adjacent to the east is well kept, older construction for rent units. The property is zoned neighborhood commercial in the Holly-Seacliff Specific Plan. ASG has met with multiple council members who have shown a desire to see this developed consistent with the adjacent residential uses. Entitlements would include a Specific Plan Amendment and a General Plan Amendment. Main & Garfield Page 3

4 PROPERTY DETAILS View of Catalina at Sunset Municipality: Zoning/General Plan: Site Condition: Current Use: Potential Use: City of Huntington Beach, CA Property is located within the Holly-Seacliff Specific Plan. General plan designation within the SP is Neighborhood Commercial (C-N). Discussions with the City regarding a Specific Plan Amendment and General Plan Amendment to Medium Density Residential (up to 15 du/acre) or Medium High Density Residential (up to 25 du/acre) has been positive. Vacant, Unimproved Vehicle Storage Medium/High Density Residential Senior care facility Assessor Parcel Numbers: Approx. Acreage School District: Schools and Scores: (City owned, to be vacated) gross Huntington Beach City S.D. (ElemenTary and Middle) Huntington Beach Union High School District Huntington Seacliff Elementary API: 969 GreatSchools Rating: 10 Ethel Dwyer Middle School API: 895 GreatSchools Rating: 9 Adjacent Uses West: Multi-Family Residential Attached 2-story Townhomes 2-story Apartment complex Huntington Beach High School API: 850 GreatSchools Rating: 9 East/ Southeast: North: Multi-Family Residential Attached 2-story Townhomes Multi-Family Residential Detached 3-story Townhomes WALNUT GROVE ESTATES Main & Garfield Page 3 Page 4

5 OFFERING GUIDELINES OFFERS WILL BE CONSIDERED WHEN SUBMITTED ASKING PRICE The property is being offered on an unpriced basis. Submit a Letter of Intent outlining proposed price and terms. Seller s preferred terms are defined below. FEASIBILITY PERIOD Feasibility Period shall expire 45 days following execution of a Purchase and Sale Agreement. DEPOSITS Two percent (2%) of purchase price shall be placed in escrow upon the execution of a Purchase and Sale Agreement. Upon approval of the Feasibility Period, the Deposit shall be increased to ten percent (5%) of the purchase price, shall be released to Seller, and shall be non-refundable except for an occurrence of Seller default. CLOSE OF ESCROW Depending on offer price, Seller may entertain offer structure that allows for escrow to close upon approval of entitlements. PROPERTY CONDITION AT CLOSING The property will be sold and delivered in an as-is condition. LOI SUBMISSION All Letters of Intent shall be submitted via to nmustafa@asgda.com. Main & Garfield PAGE 5

6 Property Aerial Property Aerial SITE SITE Garfield Ave. Arbors at Madrone Plaza (Not a Part) Parcel B (Not a Part) N Main & Garfield Page 6

7 Panoramic from Main & Holly intersection looking north at property Panoramic from Main & Garfield looking south at property Main St. Improvements Garfield Ave. improvements From Main & Holly looking north SITE PHOTOS Page 7

8 PLAT MAP Page 8

9 Subject Property AREA MAP Page 9

10 PIER Subject Property Beach Blvd. LOCATION AERIAL Page 10

11 PENINSULA MARKETPLACE FIVE POINTS PLAZA Subject Property SEACLIFF VILLAGE SHOPPING CENTER NEWLAND CENTER SHOPPING LOCATIONS Page 11

12 DISCLAIMER & DISCLOSURE PRESENTED BY NASSER MUSTAFA (O) (C) BRE # ASG Development Advisors ( Broker ) has not verified the information contained herein and makes no representation or warranty regarding its completeness or accuracy. The information was obtained from other sources and is only intended to provide a summary to interested parties. Nothing contained herein is, or shall be construed as, legal, accounting, or financial advice. Interested parties should conduct their own due diligence investigation prior to purchase, including an independent review of the attached information. Broker may act as a dual agent representing both the buyer and seller in certain transactions, including any transaction involving the property described in these materials. Further, Broker may be representing multiple parties who are pursuing the purchase of the property described in these materials. The delivery of these materials to a party shall not preclude Broker from representing the seller or other interested parties in pursuing a proposed transaction involving the property described herein. Main & Garfield, Huntington Beach, CA