Nearly Finished Houses & Lots Available

Transcription

1 Nearly Finished Houses & Lots Available Las Alturas Temecula, CA

2 PROJECT SUMMARY project: California Bank and Trust is offering for sale 4 Nearly Finished Homes and 5 Semi- Finished Lots. The project is a gated ridge line community with breathtaking views of Temecula Valley. Location: The property is situated in Western Temecula, approximately 3.5 miles west of Interstate 15. The site is located in the upscale De Luz neighborhood. The community is sought after for its high-end ranches and country estates. Map: Tract #27603 Project size: Approximately 71 Acres Assessor s parcels: ( ) Lot sizes: 3-20 Acres Each Agencies Municipality: County of Riverside Sewer & Water: Rancho California Water District Electricity: Southern California Edison Telephone: Verizon Consultants Architect: BBG Architects (714) Civil: John Peters Associates (970) GSI: Gary Ingram (951) Structural: ESI/FME, Inc. (714) Framing: Lane Building Systems (714) Trusses: Las Plumas Lumber (909) Plumbing: Sterling Plumbing (714)

3 PROJECT MATRIX Lot Status Building Permit # Home Size Garage Size Lot Size Address (APN) PHASE ONE 2 Standing #BRS ,981 SF 1,251 SF 2.78 Acres Vista Montana Ct. ( ) 6 Standing #BRS ,381 SF 948 SF Acres Vista Montana Ct. ( ) 7 Standing #BRS ,981 SF 1,251 SF Acres Vista Montana Ct. ( ) 8 Standing #BRS ,381 SF 948 SF 4.98 Acres Vista Montana Ct. ( ) PHASE TWO 1 Finished Lot #BRS ,981 SF 1,251 SF 3.28 Acres Via Vueltas Rd. ( ) 3 Finished Lot #BRS ,981 SF 1,251 SF 4.22 Acres Vista Montana Ct. ( ) 4 Finished Lot #BRS ,981 SF 1,251 SF 7.45 Acres Rancho California Rd. ( ) 5 Finished Lot #BRS ,381 SF 948 SF 8.06 Acres Vista Montana Ct. ( ) 9 Finished Lot #BRS ,381 SF 948 SF 6.20 Acres Via Vueltas Rd. ( )

4 high aerial VIA VUELTAS VISTA MONTERA COURT RANCHO CALIFORNIA ROAD RANCHO CALIFORNIA ROAD

5 low aerial VIA VUELTAS RANCHO CALIFORNIA ROAD VISTA MONTERA COURT

6 regional map RSON AV Las Alturas ARGARITA RD Ynez Road O L D TOWN FRONT ST L.A. Fitness NIC HOLAS RD 24 Hour Fitness Embassy Suites MARGARITA RD L A SERENA WY O C RANCH ALIFOR R A N C H O V I S TA NIA RD BUTTERFIELD ST AGE RD TEMECULA 79 Ramada Temecula Creek Inn PECHANGA PKWY RedHawk Golf Course S16 0 mi

7 site plan VIA VUELTAS STANDING HOUSE FINISHED LOT RANCHO CALIFORNIA ROAD LOT STATUS LOT SIZE ADDRESS (APN) 1 Finished Lot 3.28 Acres Via Vueltas Rd. ( ) 2 Standing House 2.78 Acres Vista Montana Ct. ( ) 3 Finished Lot 4.22 Acres Vista Montana Ct. ( ) 4 Finished Lot 7.45 Acres Rancho California Rd. ( ) 5 Finished Lot 8.06 Acres Vista Montana Ct. ( ) 6 Standing House Acres Vista Montana Ct. ( ) 7 Standing House Acres Vista Montana Ct. ( ) 8 Standing House 4.98 Acres Vista Montana Ct. ( ) 9 Finished Lot 6.20 Acres Via Vueltas Rd. ( ) VISTA MONTERA COURT

8 development overview BUYER TO VERIFY ALL REMAINING COSTS. SELLER DOES NOT MAKE ANY REPRESENTATIONS TO WORK THAT HAS BEEN COMPLETED OR ACCURACY OF INFORMATION PROVIDED. Status: Project has had significant work completed. 4 homes are approximately 90% complete (Buyer to Verify). A portion of the impact fees have been paid, please reference the table attached. Building permits were pulled for all lots in 2004, but have since expired. A list of Subcontractors and Consultants are available upon request. There are various stages of completion for site improvement work. Please reference below: SEPTIC SYSTEMS: Septic systems for lots 2, 6, 7, and 8 have been installed and have approved as-builts (see due diligence material). Septic Systems on Phase 2 lots have not been installed and no estimate has been provided to complete the septic systems. SCE & VERIZON: Work orders for Southern California Edison and Verizon have been cancelled but can be resumed immediately. Because the work orders have been cancelled the Dry Utility consultant estimates about 10 weeks to process the work orders with Verizon and SCE and resume work. SCE: 50% of SCE s Installed Cost will be required. In 2004 the cost for 50% of the main line was $19, and $4, for the services to the house. According to the dry utility consultant SCE s costs have gone up 100% since this time and they are estimating that the new 50% Option of installed costs will be between $60,000-$80,000. The trenching for the line is separate and is estimated at approximately $40,000. Right of way will need to be obtained from the neighbor to across Rancho California Road where connection to a splice box will be needed to service the line. VERIZON: Verizon has a pedestal just outside of the site. A 4 conduit for Verizon will need to be installed at the developer s expense. There will be no developer cost to install Verizon s facilities. RANCHO CALIFORNIA WATER LINE: The intract water line has been installed. A Blow-off valve is already installed at the top of the cul-de-sac at the departure point to the driveways to lots 2, 6, 7, and 8. Laterals to homes have not been installed. The cost for this installation is unknown. A sewer benefit fee in the amount of $4,138 per acre is due to Rancho California Water at time of water connection and this fee is addressed in the impact fee table included in this package. PROPANE: Propane tanks will provide gas. Gas service is not available to the De Luz area.

9 development overview HOA: Estimated Remaining Costs to Complete Homes: TBD. Previous developer had planned for a gated community with three gates, one at each entry off of Rancho California Road. PHASE 1 HOMES: $470,981 or $117,745 per home (includes all flooring) (Provided by third party consultant and detailed spreadsheet available upon request. BUYER TO VERIFY ALL COSTS) Estimated Remaining Lot Improvement Costs: PHASE 1: $398,352 or $99,588 per lot for 4 existing home lots PHASE 2: $416,372 or $83,274 per lot for 5 lots (Provided by third party consultant and detailed spreadsheet available upon request. BUYER TO VERIFY ALL COSTS) Estimated Remaining Impact Fees: Please see following table. Due Diligence Materials: Additional Information Available Upon Request

10 COST TO COMPLETE FEE Seller Estimated School 2.97 Per Square Foot cost to complete AMOUNT PER LOT/ACRE LOTS PAID TO DATE LOTS STILL DUE Plan 1 $13,041/lot 6,8 5,9 $26,082 Plan 2 $14,793/lot 2,7 1,3,4 $44,379 Rancho California Zone Benefit 2* $4,138/acre None 71 Acres $293,798 Rancho California 1 Drop-in (Includes, Capacity, Connection, & Meter) $4,492/lot None All $40,428 RCWD Certification of Backflow $180/lot None All $1,620 Water Demand Offset Fee as of July 1 st ** $6,180/lot None See Below See Below Seller Estimated DIF Fee $3,637/lot None All $32,733 Seller Estimated TUMF Fee $4,437/lot None All $39,933 Seller Estimated RCA Mitigation Fee $1,860/lot None All $16,740 Quimby Fees *** $2,703/lot None None $0 TOTAL REMAINING Total $495,713 *This is a Rancho California Water District Benefit fee due at time of water meter connection. It is based on gross acreage and will vary from lot to lot. This is assumption is based on the projects total acreage. **This fee has not yet been adopted by Rancho California Water District. It may or may not be adopted by the district on July 1 st, If adopted the Offset Fee for 1 meters will be $6,180. Projects paying for drop-ins prior to July 1 st will not be subject to this fee. ***Per the Mike Franklin at the County of Riverside who confirmed on May 25, 2010 that the project is not subject to Quimby Fees.

11 Architecture / Plan 1 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

12 Architecture / Plan 1 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

13 building 2 elevation Architecture / Plan 1 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

14 building 3 elevation Architecture / Plan 1 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

15 Architecture / Plan 2 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

16 building 3 elevation Architecture / Plan 2 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

17 building 3 elevation Architecture / Plan 2 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

18 building 3 elevation Architecture / Plan 2 Click Here For Elevation 1-A Elevation 1-B Elevation 1-C Elevation 1-D Elevation 2-A Elevation 2-B Elevation 2-C Elevation 2-D

19 A r c h i t e c t u r e Click Here For Plan 1 Floor 1 Plan 2 Floor 1 Plan 2 Floor 2

20 A r c h i t e c t u r e Click Here For Plan 1 Floor 1 Plan 2 Floor 1 Plan 2 Floor 2

21 A r c h i t e c t u r e Click Here For Plan 1 Floor 1 Plan 2 Floor 1 Plan 2 Floor 2

22 sales process PRICE $1,790,000 DEPOSIT DUE DATE Upon acceptance of an offer, the selected Buyer shall deposit $50,000 to open the escrow. Upon the successful completion of the Due Diligence period, the Buyer shall increase the deposit to $100,000. Offers are due on June 25, 2010 by 5:00 p.m. Submit offers to: or c/o Colliers International or or c/o Lee & Associates 5872 Owens Ave. Ste DUE DILIGENCE CLOSE The selected Buyer shall have a maximum of 30 days from the acceptance of the Letter of Intent. 15 days after the completion of the Due Diligence Period. EXIT