OFFERING MEMORANDUM

IVY AVE

CARTER ST

JEFFERSON ST

THE HOFFMAN COMPANY NORTH BENCH | ±50 ACRES | YUCAIPA, CA The Southern Office Hoffman 18881 Von Karman Ave, Ste 150 Irvine, CA 92612 EXPIRED TENTATIVE TRACT MAP FOR 50 LOTS Company CA DRE Corp ID #01473762 NEC Jefferson Street & Carter Street, Yucaipa, CA 92399 The Hoffman Company

Our Philosophy: We continue to grow, adapt BRYANT BRISLIN and perfect land sales drawing from over 40 (714) 814-5624 years of experience. [email protected] CA DRE #01877964 Our commitment has become even stronger moving into our 5th decade. NICK GIANNINI When you have an asset as valuable as land, it (949) 378-1200 pays to work with the west’s most experienced [email protected] land brokerage firm. CA DRE #01849360

WWW.HOFFMANLAND.COM TABLE OF CONTENTS

01 PROPERTY OVERVIEW 03 MARKET OVERVIEW

5 Site Detail 14 Market Trends: Yucaipa 15 Re-Sale Comparables In Immediate Area 16 New Home Projects: Beaumont 02 MAPS & AERIALS 17 New Home Projects: Calimesa 18 New Home Projects: Redlands 7 Close Up Aerial 19 New Home Projects Location Map 8 Vicinity Aerial 1 9 Retail Aerial 10 Tentative Tract Map 04 AREA OVERVIEW 11 Assessor’s Parcel Map 12 Property Photos 21 City Demographics 22 City Highlights 23 South East San Bernardino Area Attractions Map 24 Area Designated Schools xx 25 Disclaimer 01 PROPERTY OVERVIEW Property Overview | ±50 ACRES SITE DETAIL

Property Description Fifty acres of land in the North Bench area of Yucaipa, with a previously-approved tentative tract map for fifty (50) one-acre estate lots. Seller has various due diligence items on file in regards to said map. Homes in the immediate area sell in the high 600k-to-low 700k range for 2,000-2,400 sf, and in the 900-965k range for homes in the range of 3-4k sf of living area. Buyers for this neighborhood are very driven by elbow room, open space, etc.

Location North of Carter Street and East of Jefferson Street in Yucaipa, California.

Municipality City of Yucaipa, County of San Bernardino, California

Assessor’s Parcel Numbers 0320-251-25-0000 and 0320-251-23-0000

Number of Lots 50

Acreage ±50 Total Acres

Due Diligence Materials Various Items Available In Regards To The Previously-Approved TTM; Dropbox link available AGENT CONTACT Asking Price Bryant Brislin Nick Giannini $1,650,000 T (714) 814-5624 T (949) 378-1200 [email protected] [email protected] CA DRE #01877964 CA DRE #01849360

H 5 02 MAPS & AERIALS Maps & Aerials | ±50 ACRES CLOSE UP AERIAL JEFFERSON ST CARTER ST

H 7 Maps & Aerials | ±50 ACRES VICINITY AERIAL

MENTONE MILL CREEK RD SITE OAK GLEN

OAK GLEN RD BRYANT ST BRYANT YUCAIPA BLVD YUCAIPA 5TH ST WILDWOOD CANYON RD 10

CALIMESA

H 8 Maps & Aerials | ±50 ACRES RETAIL AERIAL

SITE

CARTER ST

1.5

MILES JEFFERSON ST

OAK GLEN RD BRYANT ST BRYANT LESS THAN 4 5TH ST YUCAIPA BLVD 3.75 MILES MILES TO MAJOR RETAILERS & RESTAURANTS

Lucian’s Pizza

H 9 Maps & Aerials | ±50 ACRES TENTATIVE TRACT MAP Tract No.: 17325

H 10 Maps & Aerials | ±50 ACRES ASSESSOR’S PARCEL MAP Parcel No. (APN’s): 0320-251-25-000, 0320-251-23-0000

H 11 Maps & Aerials | ±50 ACRES PROPERTY PHOTOS

Northeasterly view from Carter Street Northerly view from Carter Street

Northwesterly view from Carter Street

H 12 03 MARKET OVERVIEW Market Overview | ±50 ACRES MARKET TRENDS - YUCAIPA Source: Realtor.com | May 27, 2021

MEDIAN LISTING PRICE VS. SOLD PRICE $479.9K $500k $450k

MEDIAN LISTING PRICE $400k

$350k

$300k Jun 2018 Dec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020

$261 MEDIAN LIST PRICE MEDIAN SOLD PRICE

PRICE PER SF.

MEDIAN DAYS ON MARKET: 51

120 $469K 100

MEDIAN CLOSING PRICE 80 DAYS

60

FOR FOR 40 SALE RENT Jun 2018 Dec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 230 3 HOMES HOMES MEDIAN DAYS ON MARKET

H 14 Market Overview | ±50 ACRES RE-SALE COMPARABLES IN IMMEDIATE AREA

SALES SALES BLDG LAND NO ADDRESS $/FT 1 DATE PRICE SF ACRE 2 3 1 9998 Carol Drive 7/27/2020 $714,500 2,412 1.11 Ac $296 4 IVY AVE

2 10044 Carol Drive 4/23/2021 $960,000 3,154 0.93 Ac $304 INORTON AVE 3 36040 Ivy Drive 1/20/2021 $695,000 1,729 2.06 Ac $402 6 4 10117 Cherry Croft 11/17/2020 $712,500 2,174 1.0 Ac $328 5

5 35816 Country Ridge Rd 3/30/2021 $900,000 3,776 0.91 Ac $238 CARTER ST 6 35768 Country Ridge Rd 4/9/2021 $900,000 4,295 0.91 Ac $210 7 35529 Oleander Ave 1/15/2021 $690,000 2,316 1.28 Ac $298 7 9 8 SUBJECT SITE JEFFERSON ST

8 35607 Oleander Ave 2/25/2021 $645,000 2,010 1.28 Ac $321 BRYANT ST 9 35569 Oleander Ave 7/8/2020 $667,000 2,704 1.28 Ac $247 FIR AVE 10 35849 Creekside Drive 11/2/2020 $965,000 3,088 1.1 Ac $313 10 Averages $784,900 2,766 SF 1.25 AC $296

1) 9998 Carol Drive 2) 10044 Carol Drive 3) 36040 Ivy Drive 4) 10117 Cherry Croft 5) 35816 Country Ridge Rd

6) 35768 Country Ridge Rd 7) 35529 Oleander Ave 8) 35607 Oleander Ave 9) 35569 Oleander Ave 10) 35849 Creekside Drive

H 15 Market Overview | ±50 ACRES NEW HOME PROJECTS: BEAUMONT Source: Zonda | May 27, 2021

LOT INFORMATION SALES RATE PRICING INFORMATION PAYMENT INFO PROJECT NO. BUILDER LOCATION SAMPLE PRODUCT NAME PRICE PRICE PER TAX

LOT SIZE PLANNED SOLD REMAIN AVG. 3 MO. UNIT SIZE SF HOA OPENED RANGE SF RATE

1,330 n/a n/a Augusta at MIN. 1 D.R. Horton Beaumont Detached 268 2 266 n/a n/a n/a n/a the Fairways 2,435 n/a n/a MAY 2021 MAY MAX.

1,661 $351,000 $193 Avid TRI Pointe MIN. 2 Beaumont 4,400 SF 103 42 61 1.39 1.3 $290 1.8% at Altis Homes 1,929 $374,000 $211 NOV 2018 NOV MAX.

2,278 $407,000 $166

Elan MIN. TRI Pointe 3 at Altis Beaumont 6,400 SF 101 46 55 1.52 0.3 $290 1.8% Homes 55+ 2,559 $426,000 $178 NOV 2018 NOV MAX.

1,970 $377,000 $178

Mira MIN. TRI Pointe 4 at Altis Beaumont 6,500 SF 92 34 58 1.13 -0.7 $290 1.8% Homes 55+ 2,230 $398,000 $191 NOV 2018 NOV MAX.

1,473 $331,000 $210

Vita MIN. TRI Pointe 5 at Altis Beaumont 6,500 SF 154 86 68 2.85 3.7 $290 1.8% Homes 55+ 1,682 $354,000 $224 NOV 2018 NOV MAX.

1,564 $375,900 $160 Taylor MIN. 6 Olivewood Beaumont 6,000 SF 726 32 694 11.2 9.3 $181 1.82% Morrison

3,266 $523,900 $240 2021 JAN MAX.

2,023 Woodside MIN. 7 Big Canyon Beaumont Detached 73 0 73 - - From $400’s n/a

Homes 2021 UPCOMING 3,090 MAX.

1,971 $393,448 $175 Pardee MIN. 8 Daybreak Beaumont 8,000 SF 159 159 0 3.66 4.0 $95 2% Homes

SOLD OUT 2,518 $545,000 $243 JUL 2017 MAX.

See page 19 for location map.

H 16 Market Overview | ±50 ACRES NEW HOME PROJECTS: CALIMESA Source: Zonda | May 27, 2021

LOT INFORMATION SALES RATE PRICING INFORMATION PAYMENT INFO PROJECT NO. BUILDER LOCATION SAMPLE PRODUCT NAME PRICE PRICE PER TAX

LOT SIZE PLANNED SOLD REMAIN AVG. 3 MO. UNIT SIZE SF HOA OPENED RANGE SF RATE

2,010 $508,990 $194

Richmond MIN. 1 Overlook American Calimesa 14,000 SF 145 81 64 5.98 4.0 $98 1.9% Homes 2,890 $560,990 $253 MAR 2020 MAX.

2,021 $475,090 $201 MIN. 2 Wildflower Lennar Calimesa 5,000 SF 145 140 5 4.88 7.0 $105 2%

2,590 $520,965 $235 2019 JAN MAX.

1,432 Woodside MIN. 3 Ridge View Calimesa Detached 128 0 128 - - From $400’s n/a

Homes 2021 UPCOMING 2,362 MAX.

1,573 $394,789 $175 Camellia Express MIN. 4 Calimesa 4,700 SF 121 121 0 4.87 3.3 $192 2.05% Pointe Homes

2,428 $436,690 $250 2019 JAN

SOLD OUT MAX.

1,740 $369,990 $187 Mesa at JP Express MIN. 5 Calimesa 5,700 SF 121 121 0 5.14 4.0 $183 2.1% Ranch Homes 2,537 $475,490 $230 JUN 2019

SOLD OUT MAX.

2,287 $395,240 $148 MIN. 6 Painted Sky Lennar Calimesa 6,000 SF 105 105 0 4.04 1.3 $105 2%

3,044 $536,490 $226 2019 JAN

SOLD OUT MAX.

See page 19 for location map.

H 17 Market Overview | ±50 ACRES NEW HOME PROJECTS: REDLANDS Source: Zonda | May 27, 2021

LOT INFORMATION SALES RATE PRICING INFORMATION PAYMENT INFO PROJECT NO. BUILDER LOCATION SAMPLE PRODUCT NAME PRICE PRICE PER TAX

LOT SIZE PLANNED SOLD REMAIN AVG. 3 MO. UNIT SIZE SF HOA OPENED RANGE SF RATE

1,627 $618,990 $271 MIN. 1 The Meadows KB Home Redlands 8,250 SF 105 99 6 4.14 4.7 $0 1.74% 2,537 $689,990 $380 MAY 2019 MAY MAX.

Legacy/ MIN. 2 Lennar Redlands 5,000 SF 207 0 207 - - n/a

Traditions 2021

UPCOMING MAX.

2,650 $667,393 $229 Collection at Mastercraft MIN. 3 Redlands 10,000 SF 34 34 0 2.48 5.0 $0 1.6% Redlands Homes

3,240 $799,900 $261 2020 JAN

SOLD OUT MAX. See page 19 for location map.

H 18 Market Overview | ±50 ACRES NEW HOME PROJECTS | LOCATION MAP Source: Zonda | May 27, 2021 BEAUMONT

1 Augusta Dr Horton

2 Avid at Altis TriPointe

3 Elan at Altis TriPointe 55+

4 Mira at Altis TriPointe 55+

5 Vita at Altis TriPointe 55+

6 Olivewood Taylor Morrison

2 7 Big Canyon Woodside Homes UPCOMING 1 SUBJECT SITE 8 Daybreak Pardee Homes SOLD OUT 3

CALIMESA

1 Overlook Richmond American

2 Wildflower Lennar

3 Ridge View Woodside UPCOMING

4 Camellia Pointe Express Homes SOLD OUT 5 5 Mesa at JP Ranch Express Homes SOLD OUT

6 Painted Sky Lennar SOLD OUT 6 1 2 1 4 2 3 7 8 REDLANDS 3 4 5 1 The Meadows KB Home 6 2 Legacy/Traditions Lennar UPCOMING

3 Collection at Redlands Mastercraft Homes SOLD OUT

Numbers correspond to detailed New Home Project information on pages 16-18.

H 19 04 AREA OVERVIEW Area Overview | ±50 ACRES CITY DEMOGRAPHICS Sources: City Website, Zonda, Weather.com

TOTAL POPULATION WEATHER 75,000

60,000

45,000 JANUARY JULY PRECIPITATION 30,000 AVERAGE AVERAGE AVERAGE

15,000 63º Hi 96º Hi 19.49” per Year 41º Lo 60º Lo 0 2000 2010 2020E 2025F

State California County San Bernardino Mayor Greg Bogh Incorporated November 27, 1989 Website yucaipa.org

POPULATION (2021)

Total Population 54,349 “Our uptown reconstruction endeavor is probably the most visible impact in the community; something that started with a streetscape project in 2011 that was completed in 2012 and triggering a number of façade improvements, further enhancing the uptown No. of Households 19,142 transformation. And most exciting, was the recent completion of our Performing Arts Center, along with an urban park/outdoor stage Median Household Income $71,789 venue located in front. The objective has been to revitalize an uptown that was in decline; historical central business districts often go Homeownership Rate 74.0% through that phase. As communities develop elsewhere, the older part of downtown deteriorates and then cities have to undertake Median Age 38.5 revitalization efforts to attract new visitors.” – Dir. of Community Development, Paul Toomey October 10, 2019 | Source: https://businessviewmagazine.com/yucaipa-california-foothills-progress/

H 21 Area Overview | ±50 ACRES CITY HIGHLIGHTS

GOOD CENTRAL YEAR-ROUND NEAR LOCAL MOUNTAINS LOCATION TO AREA RECREATIONAL FOR SUMMER ACTIVITIES BUSINESSES AND OPPORTUNITIES AND WINTER SKIING & RECREATION SNOWBOARDING

YUCAIPA PARKS YUCAIPA VALLEY GOLF CLUB WILDWOOD CANYON STATE PARK Yucaipa is home to Yucaipa Regional Park, Flag Hill Veterans Located an hour east of , Yucaipa Valley Golf Club The Cove is a new state-of the-art aquatic complex in Memorial Park, Seventh Street Park, “I” Street Park, and is a challenging par 72 golf course serving the golfers of the Riverside which offers a variety of water-based activities for Wildwood Park. Recently added was the Yucaipa Community . Yucaipa Valley Golf Club challenges players by kids and adults of all ages. The Cove offers 6 progressive Park, the Bryant Glen Sports Complex, the Rick McCowan requiring golfers to use a variety of shots from tee to green. learn-to-swim classes. Classes are designed to develop the Regional Soccer Complex, as well as the newly established As an Inland Empire staple, Yucaipa Valley Golf Club attracts students’ swimming ability while teaching water safety skills. Wildwood Canyon State Park. players from the beginners to the most seasoned golfers. Their instructors provide a positive learning experience for Yucaipa Valley features a full driving range and two putting swimmers of all ages and abilities. greens that serve as the perfect place to practice or warm www.covewaterpark.org up before a round of golf. Before you check in, ask about our Chapman Rewards Card which entitles members to discounts on green fees, range balls, merchandise, and Food & Beverage. https://yucaipavalleygolf.com/

H 22 Area Overview | ±50 ACRES SOUTH EAST SAN BERNARDINO AREA ATTRACTIONS MAP

14 7

3

17 18 4

13

11 12

19 10 9 2 1 6 5 15 8

20 16

1 Loma Linda University/Medical Center 5 Fox Theater Event Center 9 Citrus Plaza 13 Rialto Airfield/Speedway 17 Golf Club 2 University of Redlands 6 Redlands Bowl Amphitheatre 10 Splash Kingdom Waterpark 14 18 Arrowhead Golf Club 3 CSU San Bernardino 7 San Manuel Amphitheater 11 15 Yucaipa Regional Park 19 San Bernardino Public Golf Course 4 San Manuel Indian Casino 8 Oak Glen / Apple Picking/ Farms 12 San Bernardino Int’l Airport 16 Wildwood Canyon State Park 20 Redlands Country Club

H 23 Area Overview | ±50 ACRES AREA DESIGNATED SCHOOLS

1. RIDGEVIEW ELEMENTARY SCHOOL (K-5) 38 11021 Sunnyside Drive Yucaipa, CA 92399 Tel (909) 790-3270 SUBJECT SITE Yucaipa-Calimesa Unified School District

Great Schools Rating: 5/10

2. PARK VIEW MIDDLE SCHOOL (6-8) 2 1 34875 Tahoe Drive Yucaipa, CA 92399 Tel (909) 790-3285 Yucaipa-Calimesa Unified School District

Great Schools Rating: 5/10

3

3. YUCAIPA HIGH SCHOOL (9-12) 33000 Yucaipa Blvd, Yucaipa, CA 92399 Tel (909) 797-0106 Yucaipa-Calimesa Unified School District

Great Schools Rating: 6/10 10

*School boundaries subject to change.

H 24 Disclaimer | ±49.5 ACRES

DISCLAIMER

The 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 Yucaipa, County of San Bernardino, 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 The Hoffman Company (“The Hoffman Company”). The material is based in part upon information obtained by The Hoffman Company 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, The Hoffman Company, 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 The Hoffman Company. 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. The 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 The Hoffman Company 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 The Hoffman Company 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. The Hoffman Company is not authorized to make any representations or agreements on behalf of Seller. This Brochure is the Property of The Hoffman Company and may be used only by parties approved by The Hoffman Company. The Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to The Hoffman Company immediately upon request of The Hoffman Company 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 The Hoffman Company and Seller. Please be advised, Buyer acknowledges that The Hoffman Company Organization, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting The Hoffman Company 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, 11/14) 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. The 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. These 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. The terms and conditions set forth above apply to this Brochure in its entirety.

H 25 THE HOFFMAN COMPANY Northern California Office Coachella Valley Office Nevada Office The Southern California Office 3447 Mt Diablo Boulevard 777 E Tahquitz Way, Suite 200 410 S Rampart #390 Hoffman 18881 Von Karman Ave, Suite 150 Lafayette, CA 94549 Palm Springs, CA 92262 Las Vegas, NV 89145 Irvine, CA 92612 T (925) 310-4857 T (760)969-7357 T (702) 726-6927 Company T (949) 553-2020 CA DRE Lic #01473762 CA DRE Lic #01473762 NV Lic #B.1000466

WWW.HOFFMANLAND.COM

Disclaimer: The information contained herein is provided from sources deemed reliable. The Hoffman Company does not guarantee the accuracy of any of the information herein. All information should be independently verified.