Approved Tentative Tract Map 32 Detached Unit Condominium Lots 4.26 Acre Site City of San Bernardino
Approved Tentative Tract Map 32 Detached Unit Condominium Lots 4.26 Acre Site City of San Bernardino
5 4.26 Acres Flat Vacant Land 32 Lots Approved Tentative Map Simple Infrastructure No Utility Relocations The Best Product to Build Attainable Product Sell Units That Have Elbow Room Significant Open Space Flat Vacant Land. A 4.26 acre 100% market rate residential development site entitled for 32 detached condominium lots. Approved Tentative Map. The 32 condominium lots average 2,579 SF and will accommodate two-story product ranging from 1,800 2,200 SF. No architectural plans. Entitlements include approved tentative tract map for site/lot plan specified. Unit footprints are conceptual. No Utility Relocations. located. Power pole at front of site will remain as currently Attainable Product. The kind that working families can actually afford. Significant Open Space. The development will afford a comfortable living environment with several open space areas. Price. $995,000 [$31,094 per paper lot]
6 Broker Contact: on Rialto offers the opportunity to acquire entitled land for the development of attainable and easy to develop housing product in the City of San Bernardino. Please contact Listing Broker; Evanisko Realty & Investment, Inc. for additional information regarding your interest in acquiring this development opportunity. Evanisko Realty & Investment, Inc. Frank Evanisko 818.985.9700 frank@evaniskorealty.com BRE: 01383591 www.thedevelopmentbrokers.com
7 1. Site / Pages 6-11 This section provides all essential information pertaining to the subject development site including a detailed description of the entitlements for 32 detached condominium lots. 2. Situation // Pages 12-24 This section provides the key housing sales data required to formulate revenue assumptions for the subject development. *Detached townhome condominiums are the perfect attainable housing product. Above is a rendering of similar two story product being sold at Adam s Grove 2.9 miles from the subject site.
S I T E
7 The Property: Address: 2578 W. Rialto Ave. San Bernardino, CA 92410 [Address gets picked up by some GPS and not others so use the neighboring property address of 2558 W. Rialto Ave. San Bernardino, CA 92410] APN: 0142-062-06-0-0000 and 0142-062-32-0-000 Land Area: 4.26 Acres Existing Land Use: Vacant Land Zoning and GP: R-U / Multiple Family Residential Price: $995,000 [$31,094 per lot] The Entitlements: An approved subdivision of 32 detached condominium home lots. Lots average 2,579 SF. The approved tentative tract map specifies house footprints with 5-10 foot separation and 24-27 backyards. The development will incorporate a significant open space amenity. No architectural plans. 1. Approved Tentative Tract Map TENTATIVE TRACT MAP 20251 2. Approved Entitlement Resolution RESOLUTION NO. 2019-013-PC
8 Angel Cesar, P.E. QSD Project Manager, Land Development David Evans and Associates, Inc. 4141 E. Inland Empire Blvd., Suite 250 Ontario, CA, 91764 www.deainc.com d: 909.912.7359 c: 909.248.6557 cisco: 37359 angel.cesar@deainc.com ENERGY LAND DEVELOPMENT MARINE SERVICES SURVEYING AND GEOMATICS TRANSPORTATION WATER AND ENVIRONMENT
9 Lot SF Lot SF 1 4,378 2 4,054 3 2,937 4 2,663 5 2,790 6 2,346 7 2,473 8 2,294 9 2,754 10 2,307 11 2,583 12 2,276 13 2,576 14 2,290 15 2,611 16 2,656 17 2,348 18 2,348 19 2,638 20 2,349 21 2,613 22 2,258 23 2,458 24 2,299 25 2,733 26 2,263 27 2,458 28 2,297 29 2,453 30 2,295 31 2,453 32 2,262 *Average Lot Size: 2,579 SF
10
11 * Tentative Tract Map * Conceptual Grading and Drainage Plan * Conceptual Utility Plan * Preliminary Water Quality Management Plan
S I T U A T I O N
13 The Original McDonald s Comp townhome development reviewed herein
14 New Retail Development: Renaissance Marketplace is a new shopping destination in the Inland Empire. Located on Renaissance Parkway, Renaissance, is accessible from the 210, 215 and 15 Freeways. Renaissance Market features a variety of retail business s such as 24HR Fitness, Supercuts, Renaissance Nail Lounge, T-Mobile, Cinemark, Sprint, 7-Eleven, Americas best contacts and eyeglasses as well as a wide range of dining options including The Habit Burger, Panda Express, Fish Grill, Blaze Pizza and Starbucks. 5.5 miles https://www.rialtorenaissance.com/
16 Adams Grove is a newly created 75 single family homes gated community designed by Crestwood communities. Out of the 40 homes currently built 15 have been sold giving an average of 1.6 homes sold per month since the grand opening in May of 2018. Adams Grove [2.9 Miles From Subject] 652 S. Cactus Ave, Rialto, CA 92376 Product: 75 detached homes Status: Size Range: 1,690 2,211 SF HOA: $181/mo. Base Pricing: $379,990 435,990 http://www.crestwoodcommunities.com/adamsgrove/
17 Residence 1 1690 SF Two-Stories 3 bedroom 2 1 Τ2 Bathroom Laundry Room 2 Car Garage Base Price: $379,990 Residence 2 1955 Sq. Ft. Two-Stories 3 bedroom 2 1 Τ2 Bathroom Laundry Room 2 Car Garage Base Price: $409,990 Residence 3 2111 Sq. Ft. Two-Stories 4 bedroom 2 1 Τ2 Bathroom Laundry Room 2 Car Garage Base Price: $399,990 Residence 4 2,201 Sq. Ft. Two-Stories 4 bedroom 3 Bathroom Laundry Room 2 Car Garage Base Price: $435,990
18 Serrano Village is a newly developed 33 detached homes gated community designed by R.C. Hobbs. Opening sales began in April 2018, and out of 33 homes 25 have been sold giving an average of 2.5 homes sold per month. Serrano Village [2.5 Miles From Subject] 882 S Clifford Ave, Rialto, CA 92376 Product: 33 detached homes Status: Size Range: 1,646-2,127 SF HOA: $221/mo. Base Pricing: $384,990-$414,990 https://rchobbs.com/serrano-village/
19 Wildrose is a newly developed 110 homes neighborhood designed by Frontier Communities. Opening sales began in May 2018, and 23 homes have been sold with 5 sales pending. Averaging 2.5 homes sold per month. Wildrose [2.7 Miles From Subject] N Wildrose Ave, Colton, CA 92324 Product: 110 detached homes Status: Size Range: 1,820 SF HOA: $177/mo. Base Pricing: $ 383,390 $439,260 https://www.fhcommunities.com/communities/community-detail/wildrose-22.cfm
20
21 Full Due Diligence Package Contents: 1. Civil Engineering Exhibits. A. Tentative Tract Map 20251 B. Conceptual Grading and Drainage Plan C. Conceptual Utility Plan D. Preliminary Water Quality Management Plan 2. Approved Entitlement Resolution A. RESOLUTION NO. 2019-013-PC 3. Title Report A. Old Republic Title B. Plotted Easements 4. Topographic Survey Contact Listing Broker for Due Diligence Folder.
22 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Any elevation or rendering is provided for reference purposes only. A buyer must verify the information and bears all risk for any inaccuracies. All materials and information received or derived from the Listing Brokers, their directors, officers, agents, advisors, affiliates and/or any third-party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the Property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the Property, projected financial performance of the Property for any party s intended use or any and all other matters. Neither Listing Broker nor their respective directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. The Listing Brokers will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or in escrow for a transaction is urged to verify all information and to conduct its own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. The Listing Brokers shall not serve as financial advisors to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents or potential rents from or for the Property. Legal questions should be referred to an attorney. Tax questions should be discussed with a certified public accountant or tax attorney. Title questions should be referred to a title officer or real estate and/or land-use counsel. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed with appropriate engineers, architects, contractors, other consultants and/or governmental agencies.
23 Exclusive Listing Broker: Evanisko Realty & Investment, Inc. BRE 01383591 Frank Evanisko (818) 985-9700 frank@evaniskorealty.com www.thedevelopmentbrokers.com Since its inception in 2004, Evanisko Realty & Investment, Inc. has tirelessly pursued the mastery of a unique balanced implementation of both real estate brokerage and land use consulting. The ability to skillfully provide both services has established Evanisko as one of the most invaluable strategic partners for stakeholders in sale transactions involving real estate slated for all forms of redevelopment in the Southern California marketplace. Evanisko s closed transactional resume spans dozens of Southern California zoning jurisdictions and project uses with a special focus on exclusive landowner representation in the disposition of urban infill real estate slated for various forms of new housing development and product types.