Weatherstone. Carmichael A 22 Single Family Lot Development -Partially Finished- Price Reduced to $950,000! An Infill Project Located in.

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Randolph Ellis
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1 Price Reduced to $950,000! An Infill Project Located in Carmichael A 22 Single Family Lot Development -Partially Finished- Exclusively offered by: Tom Harry Brown Stevens Elmore & Sparre tomharry@brownstevens.com BRE

2 EXECUTIVE SUMMARY A 22 Single Family Lot Development - Partially Finishedl THE PROJECT: LOCATION: This infill project is 2.2± acres located at 8015 Fair Oaks Boulevard, containing 22 single family lots, (partially finished) in a single family subdivision, with an approved tentative map. is located on the north side of Fair Oaks Boulevard between Manzanita Boulevard and San Juan Avenue. APN: DENSITY: PRICE: Medium-density residential $950,000 or $43,182 per lot ZONING: RD 10 LOT SIZE OFFER SUBMISSION: Minimum lot size is 2,206± SF. Lots vary in size. Homes are pre plotted on each lot. Please submit all offers in a letter of intent format via electronic mail to: tomharry@brownstevens.com Executive Summary

3 PROJECT INFORMATION PROPERTY DESCRIPTION: LOCATION: PURCHASE PRICE: DEVELOPMENT COST ESTIMATES: BUILDING PERMIT FEE ESTIMATES: is an infill project located on a 2.2± acre property containing 22 single family detached homes in a single family subdivision (partially finished.) The streets are private (non-gated) and will be maintained by a Homeowners Association The location is more specifically located adjacent to California Family Fitness on Fair Oaks Boulevard between McLain Road and Miles Lane. is located in the City of Sacramento, California, more specifically, in Carmichael, on the north side of Fair Oaks Boulevard between Manzanita Boulevard and San Juan Avenue. is easily accessible to Interstate-80 and Business 80 via Auburn Boulevard. The property is located near Safeway Shopping Center and in close proximity to many other entities such as Starbucks, California Family Fitness, Rite Aid, and US Bank, as well a multitude of additional services, eateries, and retail establishments. $950,000 or $43,182 per lot. Total lot development finishing costs: The total costs include the following: $ 67,012 per lot 1) All Phase Construction, Inc. provided a bid for onsite improvements based on improvement plans dated August 21, The estimates totaled $39,337 per lot including a 5% contingency on hard costs. 2) Utility Services of Nevada, Inc. provided an estimate for a joint trench and conduit installation in the amount of $3,255 per lot, including a 10% contingency on hard costs. 3) Soft costs (including fees due at map recording and at lot development) total $24,420 per lot, net. For a breakdown of these costs, please see the Development Costs section. The building permit fee estimates are $28,848 for a 1,921 square foot home -- average square footage of plans included (see Building Permit Fee Estimates section). Project Information

4 ENTITLEMENT STATUS: The project has an approved tentative map for 22 single family residential lots. The final map for the property has been approved, and is ready for recordation. The improvement plans for the property have not yet been signed, but need payment of some fees included in the soft cost estimates. DESCRIPTION OF COMPLETED IMPROVEMENTS: Offsite Drainage- Complete Onsite Drainage Partially complete Onsite Sewer - Complete Offsite Sewer Mostly complete Onsite Water Tear out and replace *Estimated costs are included for the onsite drainage, offsite sewer and onsite water in the enclosed bids. AFFORDABLE HOUSING REQUIREMENT: APPROVED ARCHITECTURAL PLANS: has estimated $5,500 per lot or $2.50 per square foot for the home paid at final map recordation. These fees are included in the Development Cost Summary in the Soft Costs section. The Project was approved with specific architectural plans and are included as part of the sale price. There are 3 single family plans with 3 elevations each. All plans include a 2 car garage and a backyard. The plans are as follows: Plan Stories Size SF Bed Room Bath Total Homes A1 2 1, to be built A2 3 2, to be built B 2 2, to be built HOMEOWNERS ASSOCIATION: A Homeowners Association will need to be formed by the buyer for common area maintenance. Project Information

5 BONDS & ASSESSMENTS: The summary of current assessments is estimated at $73.50/unit/year. There are no Mello-Roos bonds. Summary of Estimated Bonds and Assessments Per Unit/Yr CSA 1 Lights SACUNINCORP Zone 1 $ 2.56 Carmichael RPD Parks Assessment Water & Drainage Studies SCWA SAFCA O & M Assessment # $ ENVIRONMENTAL PERMITS: No environmental permits were obtained or required for this subdivision. Oak Tree Mitigation is the only requirement, which is paid at final map recordation, and included in the soft costs described herein. SCHOOLS: The Project is in the San Juan Unified School District. Students will attend the following schools: School 2013/ API Score Carmichael Elementary School 694 Barrett Middle School 749 Del Campo High School 760 MARKETING INFORMATION: is a superiorly located infill project in the Carmichael area. This project should attract local people residing in Carmichael and surrounding areas who are interested in possibly downsizing but remaining in the same neighborhood and community. Historically, infill locations have typically outperformed other master-planned communities due to the lack of competition by other production builders, and the fact that there are no Mello-Roos bonds in this project. offers a builder an excellent opportunity to separate itself from the rest of the market. Please submit offers to: Tom Harry Brown Stevens Elmore & Sparre tomharry@brownstevens.com BRE Project Information

6 MAPS AND AERIALS Location Aerial Map Maps and Aerials

7 Aerial Map Maps and Aerials

8 Parcel Map Maps and Aerials

9 DEVELOPMENT COST SUMMARY A 22 Single Family Lot Development Partially finished On-Site Improvements Bid by All Phase Construction TOTAL COST PER LOT Onsite (22 Lots) $ 824,222 $ 37,464 On-Site Improvement Subtotal $ 824,222 $ 37,464 Contingency (5%) 41,211 1,873 Total Estimated Costs $ 865,433 $ 39,337 Joint Trench and Conduit Estimate by Utility Services of Nevada, Inc. Conduit/Trench Subtotal $ 65,096 $ 2,959 Contingency (10%) 6, Total Estimated Utility Costs $ 71,605 $ 3,255 Soft Costs Estimate SMUD $ 28,600 $ 1,255 P.G.& E. (1) 16, AT&T 5, Inspection, Material Checking 25,000 1,136 Carmichael Water Fees 28,045 1,275 Quimby Park Fees 88,440 4,018 SASD Sewer Impact Fees (as of 7/1/13) paid at Map 6, Affordable Housing Fees (paid at Map) 121,000 5,500 Geotech Engineering, Soils Tesing 34,000 1,545 Landscape Architecture 3, Construction Staking Budget 33,000 1,500 SWPPP-QSP Monitoring Report 7, NPDES Fee for Storm Water Permit Tree Mitigation Fee (475in x $325/in) 154,375 7,017 Total Estimated Soft Costs $ 537,231 $ 24,420 TOTAL ESTIMATED DEVELOPMENT COSTS $ 1,474,250 $ 67,012 (1) PG&E project deposit of $5,000 is 100% refundable, portion of the project cost is refundable yet is based on project specifics and house hook-ups. Refund is estimated at $10,000 Development Costs

10 Proposed for: From All Phase Construction, Inc. P.O. Box 876 Roseville, CA (916) Bid Date: May 18, 2015 Development Costs

11 Proposed for: From All Phase Construction, Inc. P.O. Box 876 Roseville, CA (916) Bid Date: May 18, 2015 Development Costs

12 Proposed for: From All Phase Construction, Inc. P.O. Box 876 Roseville, CA (916) Bid Date: May 18, 2015 Proposed for: Development Costs

13 From Utility Services of Nevada, Inc Tribute Road, Suite B Sacramento, CA (916) Bid Date: June 28, 2013 Development Costs

14 ESTIMATED BUILDING FEES Fees based on a 1,921 square foot home Living Area: 1,921 Garage Area: 450 Valuation: $237,000 BUILDING PERMIT AND IMPACT FEES Building Permit (1) $2,259 Plan Check Production (50%) 753 Zone Check 185 AB Long Range Planning Fee 263 I.T. recovery Fee 191 Department of Transportation 9,813 Sac Metro Fire (2) 1,076 SRCSD Relief Area 2,781 Measure A 1,128 San Juan Unified School District (3) 4,111 Library Fee 784 Carmichael Park Development Fee 5,494 Estimated Fees at Building Permit Total $28,848 (1) Building Department Permit Fees = SF/Building Valuation (2) SacMetro Fire Fee = $0.56 PSF (3) SJUSD Fee = $2.14 PSF Permits and Assessments

15 TAX BILLS Permits and Assessments

GARFOOT GREENS. Tentative Map Final Map Ready. Garfoot Greens

GARFOOT GREENS. Tentative Map Final Map Ready. Garfoot Greens GARFOOT GREENS Tentative Map Final Map Ready Garfoot Greens Planned Park Site Planned Soccer Fields Open Space Creek & Drainage Corridor 8070 Vineyard Road, Sacramento 77 single family lots on 19.58 acres