Rare Development Opportunity Near Lake Jennings All Environmental Permits are Expected to be Approved by End of 2016 10,000 to 16,009 SF Lot Sizes Area of New Home Prices From $550,000 to $700,000 ASKING PRICE: $2,425,000 OFFERS DUE NOVEMBER 18, 2016 Lindo Lake Park Tierra Del Sol Middle School 67 LAKEVIEW RD Lakeview Elementary EL CERRO DR E LAKEVIEW RD RD LAS POTRAS WAY SUBJECT PROPERTY ADLAI RD
PAGE CONTENT 3 AERIALS 6 LOCATION MAP 7 PROPERTY INFO 8 DOCUMENT LINKS 9 IMPROVEMENT COSTS 10 IMPACT FEES 11 TENTATIVE MAP 12 PARCEL MAP 13 COMPARABLE HOME SALES VECINIO DEL ESTE PL LA FAMILIA CT ADLAI RD E LAKEVIEW RD RD 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
RIKER RANCH - APPROVED 21 LOT TENTATIVE MAP LA FAMILIA COURT VECINO DEL ESTE PLACE AERIALS E LAKEVIEW ROAD ADLAI ROAD 3
BUBBLING WELLS RD AERIALS EL CERRO DR E LAKEVIEW RD ADLAI RD 4
AERIALS Lindo Lake Park AVE JULIAN Lake Jennings Tierra Del Sol Middle School LAKE PARK RD JENNINGS LAKEVIEW RD Lakeview Elementary ADLAI RD E LAKEVIEW RD 5
Adlai Rd RIKER RANCH - APPROVED 21 LOT TENTATIVE MAP LOCATION MAP LAKESIDE SUBJECT PROPERTY LAKE JENNINGS SANTEE Lake Jennings Park Rd SUBJECT PROPERTY E Lakeview Rd Lakeview Rd Hwy 8 Business 6
PROPERTY INFO Location: Jurisdiction: APN #: 398-390-67-00 Acreage: Topography: Zoning: General Plan: Minimum Lot Size: Project Status: Improvement Costs: Impact Fees: Located at 9230 Adlai Road in the rustic Lakeside area, the property features expansive surrounding mountains while maintaining immediate proximity to Lake Jennings as well as, commercial and retail developments that include: upscale grocery, restaurants, and shopping. Approximately 2 miles southeast of Highway 67 and 1/2 mile northwest of Interstate 8, this site will provide commuters with quick, convenient access to all of San Diego County. County of San Diego Lakeside Community Planning Group 6.24 Acres Generally Flat RS (Single Family Residential) VR-4.3 (Village Residential) 10,000 SF On August 7, 2015 the San Diego County Planning Commission voted to approve the Riker Ranch 21 lot residential subdivision Tentative Map 5592. The owner has obtained the California Fish and Game permit and anticipates both the Army Corp. 404 and Regional 401 permits by the end of 2016. No architecture has commenced or been approved to date. Approximately $78,979 per lot Approximately $33,799 per lot LOS COCHES RD EL CERRO DR School District: E LAKEVIEW RD LAKEVIEW RD ADALAI RD Lakeside Union & Grossmont Union High Lakeview Elementary - 865 API Tierra Del Sol Middle School - 735 API El Capitan High School - 747 API Services: Water Helix Water District Sewer San Diego County Sanitation Dist. Gas/Electricity SDG&E Fire Lakeside Fire Protection Dist. Police San Diego County Sheriffs Dept. Asking Price: $2,425,000 Offer Due Date: November 18, 2016 at 5:00 PM 7
DOCUMENT LINKS CLICK TO VIEW DOCUMENT LINKS CONDITIONS OF APPROVAL GENERAL PLAN - LANDSCAPE USE ELEMENT GEOTECHNICAL REPORT PRELIMINARY GRADING PLAN TENTATIVE MAP ZONING CODE - R-1 8
IMPROVEMENT COSTS ESTIMATED IMPROVEMENT COSTS Construction Items Total $ $/Unit Erosion Control $ 44,623 $ 2,125 Demolition $ 32,500 $ 1,548 Grading & Site Prepo $ 201,961 $ 9,617 Storm Drain $ 161,672 $ 7,699 Sewer $ 69,110 $ 3,291 Water $ 90,150 $ 4,293 Paving $ 227,188 $ 10,818 Dry Utilities/Joint Trench $ 158,116 $ 7,529 Landscaping $ 70,513 $ 3,358 Bioretention/Hydromodification $ 159,880 $ 7,613 Utility Conversion Cost - Pole Relocation $ 104,662 $ 4,984 Subtotal Construction Costs $ 1,320,375 $ 62,875 Contingency @ 10% $ 132,038 $ 6,288 Total Construction Costs $ 1,452,413 $ 69,163 Plan Check, Deposits, Reimbursements & Bonds Total $ $/Unit City/County Inspection Fee $ 33,772 $ 1,608 City/County Final Map Fees $ 33,772 $ 1,608 Mitigation Purchase for Wetlands Creation $ 59,800 $ 2,848 Mitigation Purchase for Non-Native Grassland $ 10,500 $ 500 Utility Deposit $ 100,707 $ 4,796 Utility Reimbursements $ (75,150) $ (3,579) Bond Fees $ 24,000 $ 1,143 Subtotal Plan Check, Deposits, Reimbursements & Bonds $ 187,401 $ 8,924 Contingency @ 10% $ 18,740 $ 892 Total Plan Check, Deposits, Reimbursements & Bonds $ 206,141 $ 9,816 Total Construction Costs, Plan Check, Deposits, Reimbursements & Bonds $ 1,658,554 $ 78,979 9
IMPACT FEES ESTIMATED DEVELOPMENT IMPACT FEES Development Impact Fees $/Unit Drainage Fee ($.83/SF) * $ 2,075 Park Fee $ 4,294 RTCIP & Traffic Impact Fee $ 4,199 Fire Protection Fee $ 1,410 San Diego County Sanitation District - Sewer Connection Fees** $ 2,336 Helix Water District Installation Fee (3/4" Meter) $ 230 Helix Water District Capacity Fee (3/4" Meter) $ 6,842 S.D.C.W.A. Capacity Fee - System (3/4" Meter) $ 4,840 S.D.C.W.A. Capacity Fee - Water Treatment (3/4" Meter) $ 123 Grossmont Union High School District Fees ($1.00/SF) * $ 2,500 Lakeside Elementary School District Fees ( $1.98/SF) * $ 4,950 Total Development Impact Fees $ 33,799 NOTES: * Assumes 2,500 square foot single family residences. ** Includes $336 annual fee for 1st year of service 10
TENTATIVE MAP 11
PARCEL MAP 12
NEW HOME SALES COMPARABLES RIKER RANCH - APPROVED 21 LOT TENTATIVE MAP COMPARABLE HOME SALES Typical Unit Size Unit Size Min Price / Max Price / Total Units Total Units Total Sales Sales Rate (Last Project Name Builder Name City Open Date Product Type Lot Size Min Max MinPrice MaxPrice SF SF Planned Sold Remaining Rate 3 Months) Zip Code Magnolia Trails KB Home El Cajon 12/9/2015 Detached 4,000 2,292 2,757 $ 542,990 $ 599,990 $ 217.62 $ 236.91 44 31 13 3.3 3.3 92020 Everly Shea Homes El Cajon 4/4/2015 Detached 5,000 1,709 1,957 $ 519,078 $ 552,942 $ 282.55 $ 303.73 21 21 0 1.7 1.3 92020 Ridgeline KB Home Lakeside 5/30/2015 Detached 3,500 1,836 2,076 $ 514,990 $ 559,990 $ 269.74 $ 280.50 52 44 8 2.9 2.0 92040 RESALE HOME COMPARABLES *These 3 projects have smaller lots than Riker Ranch. 13
For More Information, Please Contact: CA Lic#01367183 CA Lic#01323215 14