EXCLUSIVE OFFERING MEMORANDUM 44 SINGLE FAMILY RESIDENTIAL LOTS ASTER ROAD & BARTLETT AVENUE, ADELANTO, CA
Jeremy Schmidt Craig Potter 12180 Ridgecrest Road, Suite 232 Executive Vice President Real Estate Xperts, Inc. CorporateVictorville, CAOffice 92395 PH. 760.983.2383 FAX 760.983.2433 760.983.2593 951.454.2359 WWW.KURSCHGROUP.COM [email protected] [email protected] Corporate BRE: 01896143 BRE #01310579 BRE #01290640 SITE SUMMARY
PROPERTY OVERVIEW ZONING The subject property has recorded tract maps 13896 & 13896-3 R1 (Single Family Residential Max. 4 du/ac) for 44 Single Family Residential Lots in the City of Adelanto. The project provides an opportunity to deliver new homes in an active ENTITLEMENT path of progress, west of Highway 395. Recorded Maps 13896 & 13896-3 for 44 single family lots.
LOCATION LOT SIZES The subject property is located north of Bartlett Ave and east of Lots range in size from 7,040 Sq. Ft. to 9,794 Sq. Ft. with an Aster Rd in the City of Adelanto, CA. Exit Interstate 15 at Palmdale average lot size of 7,556 Sq. Ft. Road / West Highway 18 and turn left onto Mariposa Road. Turn left onto Palmdale Road and head west approximately 4.5 miles HOA to the signal at Highway 395. Turn right on Hwy 395 and go north Project does not recommend the formation of an HOA. approx. 5 miles, then turn left on Bartlett Ave. The site is approx. 1.25 miles west at the NEC of Aster Rd, immediately adjacent to CFD Harold George Visual & Performing Arts Magnet School. No site specific CFD is proposed for the property.
MUNICIPALITY UTILITIES City of Adelanto (within City Limits) Electric Southern California Edison County of San Bernardino Gas Southwest Gas Company Telephone Frontier Communications ASSESSORS PARCEL NUMBERS Water/Sewer City of Adelanto 0459-811-04 through 0459-811-15 0459-811-19 through 0459-811-37 0459-811-39 through 0459-811-50 ASKING PRICE $1,320,000 0459-811-55
CONDITION OF THE SITE The site is improved, buyer to verify improvements.
KURSCH GROUP INLAND EMPIRE NORTH 44 SINGLE FAMILY RESIDENTIAL LOTS - ADELANTO, CA WWW.KURSCHGROUP.COM 2 1-3-5 MILE RADIUS AERIAL
The Site is adjacent to a visual & performing arts middle school. There are many established Residential Developments in the immediate vicinity, with numerous sites planned for future growth.
Hwy 395 is 1.25 miles east of this property, providing easy access to Interstate 15, SCLA (Southern California Logistics Airport), and the new Super Walmart anchored Shopping Center at the intersection of Hwy 395 & Palmdale Rd.
KURSCH GROUP INLAND EMPIRE NORTH 44 SINGLE FAMILY RESIDENTIAL LOTS - ADELANTO, CA WWW.KURSCHGROUP.COM 3 PROPERTY PHOTOS & PLAT MAP
NORTHEAST CORNER WEST VIEW BARTLETT AVE & ASTER RD BARTLETT AVE
The subject site is in an established residential area, EAST VIEW immediately adjacent to FLORENCE CT a middle school. Streets are paved with curbing, have street lighting, and underground utilities (buyer verify all).
KURSCH GROUP INLAND EMPIRE NORTH 44 SINGLE FAMILY RESIDENTIAL LOTS - ADELANTO, CA WWW.KURSCHGROUP.COM 4 SEWER & WATER MAPS
KURSCH GROUP INLAND EMPIRE NORTH 44 SINGLE FAMILY RESIDENTIAL LOTS - ADELANTO, CA WWW.KURSCHGROUP.COM 5 SCHOOLS SUMMARY VICTOR VALLEY UNION HIGH SCHOOL DISTRICT SCHOOL NAME GRADES ENROLLMENT Adelanto High School 9-12 1,748 The property is served by the Victor Valley Cobalt Institute of Math and Science 7-12 864 Union High School District (VVUHSD) Goodwill High School 8-12 206 which covers an area of approximately Imogene Garner Hook Junior High School 7-8 808 536 Square Miles. VVUHSD serves nearly Lakeview Leadership Academy 7-8 796 10,000 middle school and high school Silverado High School 9-12 2,213 students. It is comprised of five (5) high University Preparatory School 7-12 1,115 schools, one (1) continuation high school, Victor Valley High School 9-12 1,892 and two (2) middle schools.
Source: VVUHSD.org and GreatSchools.org
ADELANTO ELEMENTARY SCHOOL DISTRICT SCHOOL NAME GRADES ENROLLMENT Adelanto Elementary School K-6 469 Columbia Middle School 7-8 391 The property is served by the Adelanto Donald F. Bradach School K-8 763 Elementary School District (AESD) which Eagle Ranch School K-6 765 serves nearly 9,000 elementary school El Mirage School K-8 120 and middle school students. AESD is George Visual & Performing Arts K-8 699 comprised of eleven (11) elementary Magnet School (Adjacent to Site) schools and three (3) middle schools. Gus Franklin Jr. STEM School K-7 635 Melva Davis Academy of Excellence 6-8 706 STEAM Middle School Mesa Linda Middle School 7-8 846 Morgan Kincaid Preparatory School of K-6 931 Integrated Studies Theodore Vick School K-8 776 Victoria Magathan Elementary K-6 639 West Creek Elementary K-6 595 Westside Park Elementary K-6 630 Source: AESD.net and GreatSchools.org
KURSCH GROUP INLAND EMPIRE NORTH 44 SINGLE FAMILY RESIDENTIAL LOTS - ADELANTO, CA WWW.KURSCHGROUP.COM 6 CITY OVERVIEW
ADELANTO Progress through unity COUNTY: SAN BERNARDINO TOTAL AREA: ±56 SQUARE MILES INCORPORATED: DECEMBER 22, 1970 MAYOR: RICHARD KERR MAYOR PRO TEM: JERMAINE WRIGHT SR WEBSITE: WWW.CI.ADELANTO.CA.US
Year Population Growth Rate 1990 8,517 2000 18,130 112.90% 2010 31,765 75.20% 2016 33971 4.40% 2021 35809 5.30%
AVERAGE ANNUAL GROWTH (1990-2016): 11.49% 2016 POPULATION 33,971 FORECASTED ANNUAL GROWTH (2016-2021): 1.06% 40,000 35809 CLIMATE 35,000 33971 31,765 Adelanto is in the High Desert region of Southern California where humidity is low and sunshine is plentiful. 30,000
25,000 AVG JANUARY LOW TEMP: 32.6 F AVG JULY HIGH TEMP: 97.0 F 20,000 18,130 AVG ANNUAL RAIN FALL: 8.5 in. AVG SUNNY DAYS: 286 15,000 ELEVATION: 2,984 ft. 10,000 8,517 Source: bestplaces.net/climate/city/california/adelanto 5,000
112.90% 75.20% 4.40% 5.30% 0 1990 2000 2010 2016 2021
Population Growth Rate Source: en.wikipedia.org/wiki/Adelanto,_California
KURSCH GROUP INLAND EMPIRE NORTH 44 SINGLE FAMILY RESIDENTIAL LOTS - ADELANTO, CA WWW.KURSCHGROUP.COM 7 OFFERS DUE OFFER DETAILS Submit offers in writing to: Please submit offer in the form of a Letter of Intent. Bids should [email protected] identify the proposed Buyer, its principals and/or material aspects of its [email protected] corporate organization. Buyer’s submission should include information regarding Buyer’s relevant experience and financial where withal, and PURCHASE PRICE its intended equity and debt sources for consummating the Transaction. Submit offer. “AS-IS SALE”: NO REPRESENTATIONS AND WARRANTIES LETTER OF INTENT The Property is being sold “as-is” with no representations or warranties The Subject Property shall be removed from the market and the from either the Seller or its Affiliates. The information provided is Feasibility Period shall commence upon the exection of a fully executed inteded to help a Buyer develop an offer to purchase the Property, but Purchase Contract. the Buyer must not rely on anything other than its own due diligence. FEASIBILITY PERIOD BROKERAGE FEE Buyer shall have a Feasibility Period in which to investigate all aspects The brokerage fees will be paid for by the Seller. Seller expressly of the Property, including the physical condition of the Property. The reserves the right, at their sole discretion, to reject any oral expressions Feasibility Period shall begin upon the execution of the Letter of Intent. of interes or offers to purchase the Property and/or to terminate It is the Seller’s intent to have the Feasibility Period Expire 45 days from discussions with any party at any time with or without notice. the execution of the Letter of Intent.
CLOSE OF ESCROW Close of escrow shall occur no later than thirty days (30) from expiration of Feasibility Period.
KURSCH GROUP INLAND EMPIRE NORTH 44 SINGLE FAMILY RESIDENTIAL LOTS - ADELANTO, CA WWW.KURSCHGROUP.COM 8 Broker Contact 12180 Ridgecrest Road, Suite 232 Jeremy Schmidt CorporateVictorville, CA Office 92395 Executive Vice President PH. 760.983.2383 FAX 760.983.2433 760.983.2593 WWW.KURSCHGROUP.COM [email protected] Corporate BRE: 01896143 BRE #01310579
Craig Potter Real Estate Xperts, Inc. 951.454.2359 [email protected] BRE #01290640
The information contained in the following marketing document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kursch Group and should not be made available to any other person or entity without the written consent of Kursch Group. This marketing brochure has been prepared to provide summary, unverified information to prospective buyers and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kursch Group has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, or the compliance with State and Federal Regulations. The information contained in this marketing document has been obtained from sources we believe to be reliable; however, Kursch Group has not verified and will not verify, any of the information contained herein, nor has Kursch Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein and have satisfied themselves to anything that may affect the site prior to consummating a transaction.