50 Acres | Yucaipa, Ca
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OFFERING MEMORANDUM IVY AVE CARTER ST JEFFERSON ST THE HOFFMAN COMPANY NORTH BENCH | ±50 ACRES | YUCAIPA, CA The Southern California 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 AVE INORTON 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 ST BRYANT 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.