MOUNTAIN RIDGE. 13 SFR ESTATE LOTS (EQUESTRIAN USE PERMITTED) Granada Hills City of Los Angeles. The Hoffman Company OFFERING MEMORANDUM SESNON BLVD

Transcription

1 MOUNTAIN RIDGE E S T A T E S 3 SFR ESTATE LOTS (EQUESTRIAN USE PERMITTED) Granada Hills City of Los Angeles SESNON BLVD MAYERLING ST MAHONEY PL HIGHWATER RD WOODRANCH RD REXBON RD Leading the Land Brokerage Industry CALIFORNIA + NEVADA Southern California Office 888 Von Karman Avenue, Suite 50 Irvine, California 96 T F CA BRE # Broker Contact Sarah Bockhorst, CA BRE # T sbockhorst@hoffmanland.com Bryant Brislin, CA BRE # T bbrislin@hoffmanland.com

2 Disclaimer information contained in this offering material ( Brochure ) is furnished solely for the purpose of a review by prospective purchaser of any portion of the subject property in the City of Granada Hills, County of Los Angeles, California ( Property ) and is not to be used for any other purpose or made available to any other person without the express written consent of Scheel Dallape Inc. d/b/a ( ). material is based in part upon information obtained by from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Seller,, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site. This Brochure was prepared by. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation. In this Brochure, certain documents and other materials are described in summary form. summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. Seller and expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or to terminate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to Seller s obligations there under have been satisfied or waived. is not authorized to make any representations or agreements on behalf of Seller. This Brochure is the Property of and may be used only by parties approved by. Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to immediately upon request of or Seller and (ii) that this Brochure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of and Seller. Please be advised, Buyer acknowledges that Organization, may () act as an agent for more than one prospective Buyer on the subject property and/or () act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting to submit an offer on its behalf acknowledges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers. POSSIBLE REPRESENTATION OF MORE THAN ONE BUYER OR SELLER - DISCLOSURE AND CONSENT (C.A.R. Form PRBS, /4) A real estate broker (Broker), whether a corporation, partnership or sole proprietorship, may represent more than one buyer or seller. This multiple representation can occur through an individual licensed as a broker or salesperson or through different individual broker s or salespersons (associate licensees) acting under the Broker s license. associate licensees may be working out of the same or different office locations. Multiple Buyers: Broker (individually or through its associate licensees) may be working with many prospective buyers at the same time. se prospective buyers may have an interest in, and make offers on, the same properties. Some of these properties may be listed with Broker and some may not. Broker will not limit or restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property. Multiple Sellers: Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Some properties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and some may not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed properties that may appeal to the same prospective buyers. Dual Agency: If Seller is represented by Broker, Seller acknowledges that broker may represent prospective buyers of Seller s property and consents to Broker acting as a dual agent for both seller and buyer in that transaction. If Buyer is represented by Broker, buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring and consents to Broker acting as a dual agent for both buyer and seller with regard to that property. In the event of dual agency, seller and buyer agree that: (a) Broker, without the prior written consent of the Buyer, will not disclose to seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written consent of the seller, will not disclose to the buyer that seller is willing to sell property at a price less than the listing price; and (c) other than as set forth in (a) and (b) above, a dual agent is obligated to disclose known facts materially affecting the value or desirability of the property to both parties. Offers not necessarily confidential: Buyer is advised that seller or listing agent may disclose the existence, terms, or conditions of buyer s offer unless all parties and their agent have signed a written confidentiality agreement. Whether any such information is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the real estate community, the listing agent s marketing strategy and the instructions of the seller. Buyer and seller understand that Broker may represent more than one buyer or more than one seller and even both buyer and seller on the same transaction and consents to such relationships. terms and conditions set forth above apply to this Brochure in its entirety.

3 Table of Contents 3 4 Property Overview Aerials & Maps Area Overview Market Overview

4 Property Overview

5 Property Overview Site Detail PROPERTY OVERVIEW Mountain Ridge Estates is a unique homebuilder opportunity to develop upscale housing on + acre lots. site consists of ± acres with an approved tentative tract map for 3 estates. se are zoned to permit equestrian uses with horse keeping areas designated on each lot. Granada Hills neighborhood is essentially a built-out area with hardly any new housing supply. This would be a great opportunity to build new homes in a landconstrained submarket. ADDRESS 7900 Bull Canyon Road, Granada Hills CA 9344 ASSESSOR S PARCEL NUMBER ACREAGE Approximately acres LOT SIZES 43,577-73,09 sf with an average of approx. 5,8 sf PAD SIZES ,840 with an average of approx. 7,985 sf ARCHITECTURAL PLANS Available house plans range from approximately 4,337-4,84 sq ft. (see page 6) HORSE KEEPING AREAS,00-3,000 sf with an average of approx.,69 sf PLANNED PROJECT 3 large lots zoned to permit equestrian uses plus open space lot. ENTITLEMENTS Approved Tentative Tract Map #606- expires on 4/5/09 Final Map has gone through 4 plan checks Grading Plans have gone through LADBS plan check BOE Street/Storm Drain Plans- Gone through plan check BOE Sewer Plans- Gone through plan check Hydrology Study- completed & stamped Geotech Report finished Water Plans- prepared/constructed by LADWP. Will Serve letter available Landscape Plans prepared Easements have been recorded COST TO COMPLETE Some cost estimates are available upon request PRICE $,950,000 SCHOOLS Students residing in Mountain Ridge Estates will attend the following schools in the Los Angeles Unified School District: El Oro Elementary 9/0 Great Schools Rating 30 El Oro Way, Granada Hills, CA 9344 Frost Middle School 8/0 Great Schools Rating 34 Bradford Place Granada Hills, CA 9344 Granada Hills Charter High School 0/0 Great Schools Rating 0535 Zelzah Avenue, Granada Hills, CA 9344 AGENT CONTACT Sarah Bockhorst CA BRE # T sbockhorst@hoffmanland.com Bryant Brislin CA BRE # T bbrislin@hoffmanland.com \ 5 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

6 Property Overview Lot & Pad Area Lot No. Lot Area Pad Area HKA 43,680 0,450,00 43,78 7,500, ,097 7,660, ,86 5,350,60 5 5,64 5,070, ,309 5,780 3, ,059 4,650, ,837 5,900, ,09 67,74 9,060,480,350, ,64 43,577 8,870 0,080,0, ,846 0,950,00 8 Average 5,8 7,985, ,48 Open Space 0 \ 6 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

7 Property Overview Architectural Plans Lot Fit Study LEGEND HOUSE PLAN # - 4,337 SQ FT HOUSE PLAN # - 4,750 SQ FT HOUSE PLAN #3-4,84 SQ FT \ 7 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

8 Property Overview Plan One First Floor -,86 SQ FT Second Floor -,5 SQ FT \ 8 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

9 Property Overview Plan Two First Floor - 3,57 SQ FT \ 9 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

10 Property Overview Plan Two Second Floor -,79 SQ FT \ 0 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

11 Property Overview Plan Three First Floor -,305 SQ FT \ \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

12 Property Overview Plan Three Second Floor -,59 SQ FT \ \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

13 Aerials & Maps

14 Aerials & Maps Close Up Aerial BULL CYN RD MAYERLING ST MAHONEY PL DELANTE WAY HIGHWATER RD \ 4 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

15 Aerials & Maps Close Up Aerial With Overlay BULL CYN RD MAYERLING ST MAHONEY PL DELANTE WAY HIGHWATER RD \ 5 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

16 Aerials & Maps Vicinity Map PORTER RANCH TOWN CENTER SESNON BLVD FROST MIDDLE SCHOOL MOUNTAIN RIDGE E S T A T E S EL ORO ELEMENTARY SCHOOL KNOLLWOOD GOLF COURSE KNOLLWOOD PLAZA COMING SOON he offman CORBIN AVE TAMPA AVE 8 RINALDI ST ompany SAN FERNANDO MISSION BLVD MASON AVE WILBUR AVE RESEDA BLVD GRANADA HILLS CHARTER HIGH SCHOOL 3 ZELZAH AVE WHITE OAK AVE LOUISE AVE BALBOA BLVD CHATSWORTH ST HAYVENHURST AVE WOODLEY AVE DEVONSHIRE ST \ 6 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

17 Aerials & Maps Parks & Recreation O MELVENY PARK GRANADA HILLS YOUTH RECREATION PORTER RIDGE PARK ALISO CANYON PARK MOUNTAIN RIDGE E S T A T E S KNOLLWOOD GOLF COURSE 5 ZELZAH PARK RINALDI ST RESEDA BLVD ZELZAH AVE WHITE OAK AVE 8 LOUISE AVE BALBOA BLVD HAYVENHURST AVE WOODLEY AVE HASKELL AVE 405 \ 7 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

18 Aerials & Maps Approved (Revised) Tentative Tract Map No 606 \ 8 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

19 Aerials & Maps Assessor s Parcel Map \ 9 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

20 Aerials & Maps Zimas Zoning Map MOUNTAIN RIDGE E S T A T E S \ 0 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

21 3 Area Overview

22 Area Overview 3 City Info & Demographics GRANADA HILLS POPULATION (06) TOP SCHOOLS BY API SCORE California State County California Los Angeles Mayor Eric Garcetti Incorporated April 4, 850 Total Population No. of Households Household Income Homeownership Rate Median Age 53,306 7,8 $78, School Elementary: Van Gogh Charter School Middle: Robert Frost High: Granada Hills Charter School 03 API Source: Zonda Source: Zonda Website WEATHER CITY OF LOS ANGELES January Average High 69º, Low 39º July Average High 95º, Low 57º Granada Hills Precipitation High Feb 4.8, Low Jul 0.0 Source: wikipedia.org and beaumont.ca.us Source: wikipedia.org and weather.com TOTAL POPULATION 53,306 Historical Annual Growth Forecasted Annual Growth 0.7% 0.8% CITY MOTO Valley s Most Neighborly Town Source: Zonda; US Census; Nielsen; Meyers Research LLC \ \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

23 Area Overview 3 Area Schools Exhibit El Oro Way Charter Great Schools Rating ELEMENTARY SCHOOL K-5 30 El oro Way Los Angeles, CA Tel: (88) LOS ANGELES UNIFIED SCHOOL DISTRICT 9 out of 0 MOUNTAIN RIDGE E S T A T E S FROST MIDDLE SCHOOL KNOLLWOOD GOLF COURSE EL ORO ELEMENTARY SCHOOL 3 Robert Frost MIDDLE SCHOOL Bradford Place Los Angeles, CA T (88) LOS ANGELES UNIFIED SCHOOL DISTRICT Granada Hills HIGH SCHOOL 9- Great Schools Rating 8 out of 0 Great Schools Rating RESEDA BLVD ZELZAH AVE WHITE OAK AVE 8 LOUISE AVE BALBOA BLVD HAYVENHURST AVE WOODLEY AVE 0535 Zelzah Avenue 0 Los Angeles, CA out of 0 Tel: (88) LOS ANGELES UNIFIED SCHOOL DISTRICT 3 GRANADA HILLS CHARTER HIGH SCHOOL \ 3 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

24 4 Market Overview

25 MAP NO. PROJECT NAME BUILDER AVERAGE LOT SIZE PRICE RANGE 3 Bella Vista/Bluffs Collection Westcliffe Canyon Oaks Toll Brothers Toll Brothers Toll Brothers 8,000 sq ft 0,000 sq ft,780 sq ft $,094,995-$,39,995 $,99,995-$,699,995 $,399,995-$,669,995 Market Overview 4 Actively Selling Projects (Minimum 8,000 sq ft lots) TOTAL LOTS SALES SINCE OPENING AVERAGE SALES RATE OPENING DATE //04 0/7/05 0//06 SESNON BLVD TAMPA AVE WESTCLIFFE MOUNTAIN RIDGE E S T A T E S MINIMUM ACRE SIZED LOTS BELLA VISTA/BLUFFS COLLECTION PORTER RANCH DR RINALDI ST 8 MASON AVE CANYON OAKS \ 5 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

26 Market Overview 4 Price Data and Graph for Competing Projects CHART KEY PROJECT NAME Bella Vista/Bluff Collection Westcliffe Canyon Oaks BUILDER Toll Brothers Toll Brothers Toll Brothers JUNE 07 Source: \ 6 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

27 Market Overview 4 Nearby Re-Sale Comparables Minimum 0,000 sq ft lots &,500 sq ft home NO. APN SITE ADDRESS SALE DATE SALES PRICE BUILDING SQ/FT LOT SQ/FT YEAR BUILT CANYON COVE PL 5//07 $,30,000,994 0, MOUNTAIN RANCH RD 4/8/07 $,35,000 4,46, CREEKVIEW RD 3/4/07 $,487,000 4,3 3, LOIS CT 3/6/07 $,05,000 3,857 36, EDDLESTON DR /0/07 $839,000 3,9, NEWCASTLE AVE /4/07 $,090,000,709 35, VIMY RD //06 $,98,000 7,487 3, BELLANDO CT 0/5/06 $,00,000 4,388 9, LONGACRE AVE 0/4/06 $,400,000 4,937 38, LONGACRE AVE 9//06 $,00,000 4,937 0, OLDENBURG LN 7/7/06 $,475,000 4,937 48, RIDGEWAY RD 7/6/06 $960,000,996 5, LERDO AVE 7//06 $,00,000 3,086 36, MAYERLING ST 6/5/06 $800,000 5,63 45, AVERAGE $,64,99 4,70 3, Numbers correspond to location map on the following page. \ 7 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

28 Market Overview 4 Re-Sale Comparables Location Map RESEDA BLVD MILE MOUNTAIN RIDGE E S T A T E S NUGENT DR MAYERLING ST SHOSHONE AVE RINALDI ST BALBOA BLVD 8 \ 8 \ MOUNTAIN RIDGE ESTATES GRANADA HILLS, CA

29 THE HOFFMAN COMPANY Disclaimer: information Southern California contained Office herein is provided Coachella from Valley sources Office deemed reliable. Northern California Office does not guarantee Nevada Office the accuracy of any of the information 888 Von Karman herein. Avenue, All information Suite 50 should 777 E Tahquitz be independently Way, Suite 00 verified. North California Blvd., Suite W Russell Rd, Suite 35 Leading the Land Brokerage Industry CALIFORNIA + NEVADA Irvine, California 96 T F Palm Springs, California 96 T F Walnut Creek, California T F Las Vegas, Nevada 8948 T