NEARLY FINISHED 60 UNIT TOWNHOME SITE

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1 One of the Top Rated School Districts in the Inland Empire Final Map Recorded for 60 Townhome Units in Nearly Finished Condition Development Plan can be Fast Tracked Lots & Streets Graded, Entry Paved, Water, Sewer, Curb & Gutter Installed 1,440-1,630 SF Units - Can be Changed by Buyer SUBMIT ALL OFFERS JEFFERSON AVE Thompson Middle School Murrieta Canyon Academy NIGHTHAWK WAY Murrieta Valley High School WASHINGTON AVE SUBJECT PROPERTY LEMON ST No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice. Any of the foregoing information will need to be separately verified by Buyer.

2 PAGE CONTENT 3 AERIALS 7 LOCATION MAP 8 PHOTOS 10 PROPERTY INFO 11 SITE PLAN 12 PHASING PLAN 13 FINAL MAP 14 PLAT MAP 15 NEW HOME COMPARABLES 16 LAND CONSULTANT LETTER DATED MARCH 24, DOCUMENT LINKS WASHINGTON AVE LEMON ST SUBJECT PROPERTY No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice. 2

3 AERIALS WASHINGTON AVE SUBJECT PROPERTY LEMON ST 3

4 AERIALS Murrieta Canyon Academy Thompson Middle School NIGHTHAWK WAY Murrieta Valley Golf Range SUBJECT PROPERTY Murrieta Valley High School Murrieta Elementary School KALMIA ST WASHINGTON AVE ADAMS AVE LEMON ST 4

5 TEMECULA AERIALS Murrieta Mesa High School Murrieta Valley SUBJECT Golf Range PROPERTY JEFFERSON AVE ADAMS AVE LEMON ST WASHINGTON AVE FULLERTON RD Murrieta Valley High School Thompson Middle School NIGHTHAWK WAY 5

6 AERIALS JEFFERSON AVE Town Square Park Murrieta Elementary ADAMS AVE KALMIA ST Murrieta Valley Golf Range SUBJECT PROPERTY LEMON ST WASHINGTON AVE Murrieta Valley High School 6

7 LOCATION MAP LAKE FOREST LAKE ELSINORE WILDOMAR MENIFEE MISSION VIEJO SUBJECT MURRIETA PROPERTY MURRIETA TEMECULA TEMECULA 78 Hancock Ave N L MAR CAMP PENDLETON Lemon St SAN DIEGO COUTNRY ESTATES Jefferson Ave Madison Ave Kalmia St Adams Ave Washington Ave Murrieta Hot Springs Rd Ivy St 7

8 PROPERTY PHOTOS 8

9 PROPERTY PHOTOS 9

10 PROPERTY INFO Location: Jurisdiction: City of Murrieta APN #: & 093 Acreage: Topography: Zoning: General Plan: Project Density: Unit Count/Type: The site is located at Washington Avenue in the City of Murrieta at the southeast corner of Washington Avenue and Lemon Street. Approximately 4.64 Acres Flat Multi-Family 1, Residential (MF-1) - Base Density Du/Ac Multiple-Family Residential (MFR) 13.0 DUs/Acre 60-2 story townhomes with garages in 15 buildings Per previously approved development plan Unit Sizes: Project Status: Conditions of Approval: Affordable Housing: Project Amenities: Remaining Improvement Costs & Impact Fees: Plan 1: 30-1,440 Square Feet (2 Bed 2 Bath 2 Car Garage) Plan 2: 30-1,630 Square Feet (3 Bed 2 Bath 2 Car Garage) A Builder can propose their own product and house size including small lot detached homes. Final Map and Condo Plan have been recorded and remain valid. The site is in a nearly finished condition. The lots and streets have been graded, entry way paved, and water, sewer, curbs, and gutters are installed. Utilities are stubbed in the individual lots. The approved Development Plan has expired, but the city will fast track re-approval, provided the proposed plans remain consistent with city guidelines. The former developer processed and obtained approvals for all improvement plans for the Project. Final Map Condition 95 is no longer applicable; COA 103 has been satisfied as the traffic signals on Washington Avenue at Kalmia, Lemon and Fullerton are all currently connected via interconnect fiber optic lines. Click here for City correspondence None required. The Project will potentially include a tot Lot & pool area. Estimated by Moote Group - $63,033 per unit Dated February 8, 2017 Bonds: H.O.A.: CFD/Tax Info: School District: There are $2,300,000 in bonds for improvements posted at the City. An HOA will be required. There is no CFD or SCIP* financing but either one could be available for the Property. The current tax rate for the Property is %. *Click here for SCIP program information Murrieta Valley Unified School District Murrieta Elementary API Thompson Middle School API Murrieta Valley High API Services: Water/Sewer Western Municipal Water & Sewer Gas Southern California Gas Company Electricity Southern California Edison Fire Murrieta Fire Dept. Police Murrieta Police Department ASKING PRICE: SUBMIT ALL OFFERS 10

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14 PLAT MAP 14

15 SALES COMPARABLES NEW HOME SALES COMPARABLES COMMUNITY BUILDER / DEVELOPER CITY LOT SIZE UNIT COUNT SUMMARY SALES PACE TOTAL RLSD SOLD REMAIN ALL 3 MO. SF NET PRICE $/SF HOA TAX PAYMENT Marbella Lennar Temecula 8, ,396 $620,822 $183 $62 2.0% $3,530 Toscano CalAtlantic Homes Temecula 7, ,134 $595,805 $190 $62 2.0% $3,390 Nicolas Heights Lennar Temecula 7, ,867 $564,502 $197 $ % $3,204 Seneca KB Home Murrieta 2, ,881 $408,969 $217 $ % $2,377 Arroyo Vista Lennar Murrieta ATT ,479 $343,365 $232 $ % $1,927 Calistoga Cornerstone Communities Murrieta 3, ,889 $408,990 $217 $90 1.7% $2,279 Ventana Woodside Homes Murrieta 2, ,140 $386,278 $181 $ % $2,221 AVERAGE MONTHLY 15

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19 CLICK TO VIEW DOCUMENT LINKS DOCUMENT LINKS BOND INFORMATION CFD INFORMATION COST ESTIMATES DUE DILIGENCE INFORMATION INITIAL STUDY - CITY OF MURRIETA PLANNING MAP ACCESS POINTS WITH EMERGENCY ACCESS NEW CONDO PLAN PHASE I DOCUMENTS PHOTOS PLANNING & APPROVAL PLANS & MAPS REPORTS TAX BILL TITLE REPORT WELL INFORMATION 19

20 For More Information, Please Contact: CA Lic# CA Lic#