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 - OFFERS DUE JUNE 23, 2017 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.
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, 2017 19 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
AERIALS WASHINGTON AVE SUBJECT PROPERTY LEMON ST 3
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
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
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
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
PROPERTY PHOTOS 8
PROPERTY PHOTOS 9
PROPERTY INFO Location: Jurisdiction: City of Murrieta APN #: 906-070-092 & 093 Acreage: Topography: Zoning: General Plan: Project Density: The property is located at 24340 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 10.1-15 Du/Ac Multiple-Family Residential (MFR) 13.0 DUs/Acre Unit Count: Unit Sizes: Project Status: Affordable Housing: Environmental Permits: Project Amenities: 60-2 story townhomes with garages in 15 buildings Per previously approved development plan 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 The property 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. Final Map 31497 and Condo Plan have been recorded and remain valid. The approved Development Plan has expired, but it is our understanding that the city can fast track re-approval, provided the proposed plans remain consistent to the city guidelines. The former developer processed and obtained approvals for all the improvement plans for the Project. None Required None Required The Project will potentially include a tot Lot & pool area Bonds: H.O.A.: CFD/Tax Info: School District: There are $2,300,000 in bonds for improvements posted at the City, more than will be required. An HOA will be required and fees are estimated at $174/ month per unit. Tax rate is 1.15447% CFD has been formed but not funded Murrieta Valley Unified School District Murrieta Elementary API - 857 Thompson Middle School API - 874 Murrieta Valley High API - 836 Services: Water/Sewer Western Municipal Water & Sewer Gas Southern California Gas Company Electricity Southern California Edison Fire Murrieta Fire Dept. Police Murrieta Police Department Remaining Improvement Costs & Impact Fees: Estimated by Moote Group - $63,033 per unit Dated February 8, 2017 ASKING PRICE: SUBMIT ALL OFFERS 10
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PLAT MAP 14
NEW HOME SALES COMPARABLES SALES COMPARABLES Product Unit Unit Size Min $ / Max $ / Sq Total Units Total Total Sales Sales Rate (Last 3 Project Name Builder Name City Open Date Type Size Min Max Min Price Max Price Sq Ft Ft Planned Units Sold Remaining Rate Months) Zip Code Ridge at Cal Oaks (The) D.R. Horton Murrieta 12/6/2014 Attached 1,851 2,292 $ 325,990 $ 383,047 $ 167.12 $ 176.12 102 101 1 3.8 2.7 92562 Arroyo Vista Lennar Murrieta 9/24/2015 Attached 1,336 1,580 $ 300,990 $ 344,990 $ 218.35 $ 225.29 123 111 12 6.7 1.7 92563 Calistoga at The Promontory Cornerstone Communities Murrieta 10/20/2016 Detached 1,771 2,032 $ 379,990 $ 406,990 $ 200.29 $ 214.56 64 1 63 0.3 0.3 92563 Seneca KB Home Murrieta 4/20/2015 Detached 1,649 2,321 $ 347,990 $ 393,990 $ 169.75 $ 211.03 54 23 31 1 1.7 92563 Ventana at Creekside Village Woodside Homes Murrieta 1/28/2017 Detached 1,911 2,377 $ 347,990 $ 372,990 $ 156.92 $ 182.10 83 0 83 - - 92563 RESALE COMPARABLES Quick CMA Report Br/Ba Sqft LSqft List Price Sold Price $/Sqft Total Listings: 8 Total on Market: 0 Sold/Exp Ratio: 0.00 Maximum: Minimum: Average: Median: 3/3.00 3/3.00 3/3.00 3/3.00 2,016 1,590 1,803 1,851 2,000 436 1,289 1,360 $449,900 $289,900 $336,613 $329,495 $450,000 $280,000 $330,972 $322,495 $223.21 $159.00 $183.14 $177.31 Closed Address City YrBuilt Sale Type COE Date Br Bath CDOM Sqft LSqft $/Sqft Price 27422 Charleston CT #3 MUR 2007 STD 06/22/2016 3 3 42/42 1,761 2,000 $159.00 $280,000 39901 Alpine Union ST #B MUR 2002 STD 05/05/2017 3 3 1/1 1,654 1,307 $175.27 $289,900 37318 Paseo Tulipa MUR 2014 STD 05/10/2017 3 3 23/23 1,590 1,412 $200.00 $318,000 40951 Belleray AV MUR 2016 STD 10/02/2016 3 3 112/112 1,851 $172.87 $319,990 40931 Belleray AV MUR 2014 STD 02/25/2017 3 3 15/15 1,851 $175.58 $325,000 40978 Belleray AV MUR 2016 STD 02/25/2017 3 3 34/34 1,851 $179.03 $331,385 40960 Lacroix AV MUR 2015 STD 10/02/2016 3 3 80/80 1,851 $180.17 $333,500 38547 Lochinvar CT MUR 1986 STD 06/10/2016 3 3 183/183 2,016 436 $223.21 $450,000 Maximum: Minimum: Average: Median: 3 3 3 3 3.00 3.00 3.00 3.00 183 1 61 38 2,016 1,590 1,803 1,851 2,000 436 1,289 1,360 $223.21 $159.00 $183.14 $177.31 $450,000 $280,000 $330,972 $322,495 15
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CLICK TO VIEW DOCUMENT LINKS DOCUMENT LINKS BOND INFORMATION CFD INFORMATION COST ESTIMATES INITIAL STUDY - CITY OF MURRIETA PLANNING MAP ACCESS POINTS WITH EMERGENCY ACCESS NEW CONDO PLAN PHOTOS PLANNING & APPROVAL PLANS & MAPS REPORTS TAX BILL TITLE REPORT WELL INFORMATION 19
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