EXCLUSIVE OFFERING MEMORANDUM 177 LOTS TENTATIVE TRACT MAP TOPAZ AVE & MOJAVE STREET, HESPERIA, CA 12180 Ridgecrest Rd, Suite 232 Victorville, CA 92395 JEREMY SCHMIDT P. 760.983.2383 | F. 760.983.2433 EXECUTIVE VICE PRESIDENT Corporate BRE #01896143 BRE #01310579 • 760.983.2593 KurschGroup.com [email protected] 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. 177 LOTS TTM - HESPERIA, CA SITE SUMMARY
PROPERTY OVERVIEW ENTITLEMENT The subject property offers an opportunity to deliver new homes in Active Tentative Tract Map No. TT-17916. 177 Single Family residential lots an active path of progress within the City of Hesperia on ±40 gross acres. Expires 1.21.2021 with 12 moth extensions available upon application to the City of Hesperia. LOCATION Topaz Avenue & Mojave South is located on the south side of Mojave LOT SIZES Sreet, near the City of Hesperia Regional Community Park. Lots range in size from 4,998 SF to 9,860 SF with an average lot size of 6,114, largest 12,388 & approximately 12% of the lots are over 7,200 SF. MUNICIPALITY City of Hesperia | County of San Bernardino HOA Project does not recommend the formation of an HOA ASSESSORS PARCEL NUMBER & ACREAGE 0405-261-15 5.0 CFD Nosite specific CFDis required, however, a CFD may have significant financial 0405-261-16 5.0 profit advantages to finance off/on site improvements and some developer 0405-261-17 4.77 impact fees, giving the subdivision a competative market advantage 0405-261-18 4.77 0405-261-27 5.0 UTILITIES 0405-261-28 5.0 Electric Southern California Edison 0405-261-29 5.0 Gas Southwest Gas Com[pany 0405-261-30 4.08 Water/Sewer City of Hesperia
ZONING Low Density Residential through the Small Lot Subdivision Ordinance ASKING PRICE FOR SALE
CONDITION OF THE SITE The site is unimproved and will be delivered “as is”. Preperation of $2,301,000 final map is in progress and should be complete in 2021.
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Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE 177 LOTS TTM - HESPERIA, CA PROPERTY PHOTO
Aerial Views southwest show the close proximity of the site to the Community Regional Park, and the I-15 Main Street Interchange (about 2 miles from the site)
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Aerial Views East show the surrounding residential developements, futur projects, and the site’s close proximity to Maple Elementary School and Hesperia High School. The City of Hesperia is finishing up construction of the new water reclamation facility east of the site.
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The project is less than ½ mile east of I-15 and the future Mojave Street overpass. Currently I-15 access is approximately 2 miles southwest of the site at the Main Street interchange where significant retail development is in progress.
The project’s location near the Hesperia Community Park offers considerable recreational facilities as well as close proximity to elementary and high schools.
There are numerous investors and builders holding land in the immediate area, positioned for Immediate developement.
This property is served by the Hesperia Unified School District (HUSD), grade levels K-12, comprised of 32 schools including 5 charter scholls and 1 adult education facilty. Total enrollment is about 22,836 students with 857 teachers.
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Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE WATER MAP
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RE-SALE DATA
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Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE 177 LOTS TTM - HESPERIA, CA DEMOGRAPHICS
POPULATION 2016 2019
1 mile 3,945 4,276 3 miles 57,697 60,526 5 miles 143,035 148,592
HOUSEHOLDS 2016 2019
1 mile 1,028 1,115 3 miles 15,858 16,677 5 miles 40,645 42,186
MEDIAN AGE 2016 2019
1 mile 29.3 29.7 3 miles 30.6 30.9 5 miles 30.0 30.3
AVERAGE HH INCOME 2016 2019
1 mile $57,761 $64,751 3 miles $70,089 $76,431 5 miles $65,515 $70,736
SOURCE: STDB.COM ESRI FORECASTS FOR 2016 AND 2019
The High Desert Market is located 90 miles northeast of Los Angeles and encompasses the cities of Adelanto, Apple Valley, Barstow, Hesperia, Victorville and surrounding unincorporated areas of San Bernardino County. The regional population exceeds 442,000, nearly doubling from census data of 2000 to 2010. In fact, the city of Victorville was ranked the 6th fastest growing city in the United States for 2006! Interstate 15 bisects the region and Highway 395, Highway 18, Highway 138, Route 66 and Highway 58 all converge here. BNSF Railway runs throughout most of the high desert cities, hauling massive volumes of imported goods from the Ports of LA and Long Beach to the rest of the country.
Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE 3 1 DR HORTON Juniper at Silverstone
2 EXPRESS (by DR Horton) Agave Pointe at Silverstone 3 EXPRESS (by DR Horton) Aster Pointe 9 10 4 FRONTIER Stone Briar II 4 5 FRONTIER Diamond Ridge 7 6 RICHMOND AMERICAN Seasons at Mojave Dr
6 7 KB HOMES Falcon Ridge 19 17 8 KB HOMES Whispering Creek 9 LGI HOMES Cypress Pointe 10 EVERGREEN Dorada 11 11 EVERGREEN Sky Haven III 14 12 13 5 8 12 WATERMARKE Foxfire Ranch 13 VISTA PACIFIC Stonebrook Estates 14 K HOVNANIAN Luna Vista 1-2 15 LEGACY Amber 16 LEGACY Mountain View 15 17 LEGACY Springfield SITE 18 HARRIS HOMES 19 K HOVNANIAN Aspire at Adelanto
16 18 ACTIVE MARKET OVERVIEW
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DR HORTON JUNIPER AT SILVERSTONE EXPRESS AGAVE POINTE AT SILVERSTONE EXPRESS ASTER POINTE Victorville, CA 92392 Victorville, CA 92392 Adelanto, CA 92301 Homes from $325,990 - $377,990 Homes from the $287,990 - $319,490 Homes from the $259,490 - $284,490 2101-2709 square feet 1602-2277 square feet 1576-1972 square feet
Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE FRONTIER DIAMOND RIDGE FRONTIER STONE BRIAR II RICHMOND AMERICAN SEASONS Victorville, CA 92392 Adelanto, CA 92301 Victorville, CA 92394 Homes from the low $315,530 - $363,990 Homes from the $276,510 - $302,280 Homes from: COMING SOON 2017-3024 square feet 1639-2002 square feet 2080 - 3040 square feet
ACTIVE MARKET OVERVIEW
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KB HOMES FALCON RIDGE KB HOMES WHISPERING CREEK LGI HOMES CYPRESS POINTE Victorville, CA 92394 Victorville, CA Victorville, CA 92394 Homes from $290,990 - $440,275 Homes from: COMING SOON May 2020 Homes from $310,900 - $395,900 2176 - 2384 square feet 1698 - 2221 square feet 1602 - 2916 square feet
Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE SOLD OUT
EVERGREEN DORADA EVERGREEN SKY HAVEN II EVERGREEN SKY HAVEN III Apple Valley, CA 92307 Victorville, CA Victorville, CA 92395 Homes from $451,875 - $511,875 Homes from $327,900 Homes from $302,800 - $345,800 2508 - 3677 square feet 2170 square feet 1626 - 2170 square feet
ACTIVE MARKET OVERVIEW
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WATERMARKE FOXFIRE RANCH VISTA PACIFIC STONEBROOK ESTATES KHOVNANIAN LUNA VISTA Victorville, CA Apple Valley, CA Victorville, CA 92394 Homes from the low $300s Homes from $539,900 - $644,900 Homes from $320,390 - $369,504 1848 - 2800 square feet 2646 - 3486 square feet 1982 - 2576 square feet
Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE LEGACY AMBER LEGACY MOUNTAIN VIEW LEGACY SPRINGFIELD Victorville, CA 92392 Hesperia, CA 92344 Victorville, CA 92394 Homes from the $316,990 - $362,990 Homes from the $321,130 - $380,990 Homes from the low $274,990 - $327,990 1870 - 2526 square feet 1834 - 2653 square feet 1834 - 2653 square feet
ACCORDING TO SALES REPRESENTATIVES, FOUR TO FIVE UNITS ARE SOLD EACH MONTH FROM EACH RESPRECTIVE HIGH DESERT COMMUNITY!
HARRIS HOMES N/A K HOVNANIAN ASPIRE AT ADELANTO SWC Muscatel St & Tamarisk Ave, Hesperia SWC Muscatel St & Tamarisk Ave, Hesperia Homes from $320,390 - $369,504 Homes from $320,390 - $369,504 1982 - 2576 square feet 1982 - 2576 square feet ACTIVE MARKET OVERVIEW
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CITY OVERVIEW 2019 POPULATION 106,081 AVERAGE ANNUAL GROWTH (1990-2016): 1.95% POPULATION GROWTH 2000-2018): 51.6%↑
CLIMATE Hseperia is in the High Desert region of Southern California where humidity is low & sunshine is plentiful. Avg January Low Temp. 22 F County San Bernardino Avg July High Temp 99 F Total Area ±73.20 Square Miles Avg Annual Rain Fall 6.19 in. Incorporated July 1, 1988 Elevation 2,186 ft. Mayor Larry Bird City Manager Nils Bentsen Website cityofhesperia.us
With 17 miles of freeway frontage, Hesperia offers easy access to 366,000 High Desert residents and proximity to 20 million residents in Southern California
Kursch Group Commercial Real Estate INLAND EMPIRE KurschGroup.com | @KurschGroupCRE Hesperia is a city in San Bernardino County, California, United States 35 miles north of downtown San Bernardino in Victor Valley. This portion of the Mojave Desert is referred to as the High Desert due to the unique and moderate weather patterns. The Victor Valley area is located in the eastern portion of San Bernardino County just minutes from the Cajon Pass, with a minimal commute time to the nearby Ontario, San Bernardino and Riverside areas. The Victor Valley is made up of a collection of desert cities including, Victorville, Apple Valley, and Hesperia; it has a combined population of nearly 400,000 residents. The Victor Valley Area and Hesperia have been growing rapidly in recent years and are attracting new residents and all types of development and private investments. The economy of Hesperia employs about 32,503 people, and is specialized in Transportation & Warehousing, Construction, and Retail trade. Hesperia’s growing population has played an important role in the positive business growth seen since 2010 where Hesperia has experienced a total population growth of 10%. In 2018 alone Hesperia saw over 100 new homes enter its communitites. Hesperia very recently made a significant leap in its residential development process by giving its approval to the Tapestry Project, a masterplanned community that is aimed at younger families, preservation, and environmental sustainability. Over 16,000 homes and over 1.4 million square feet of commercial and retail space are planned in the community that will sit on 9,365 acres of empty land.
West Tentative Housing Tracts: 3,646 Hesperia’s I - 15 Freeway frontage has a daily traffic Total Housing Structures 32,183 count of more than 150,000. The I -15 is a major passage through Southern California and Hesperia Owner-occupied 64.7% holds an active 14 miles of commercially zoned Median home value $279,256 property alongside it. New construction is still underway, but several projects and shopping centers Value increase in 2019 +3.5% have already been completed with anchors such as Target Supercenter and Walmart Supercenter which Average monthly rent $1,114 are also acompanied by serveral co-anchors, shops, and restaurants. Homes built 1960-1999 71.1% With its strong Interstate highway network and prime Homes built 2000-2016 23.1% railaccessible land, Hesperia can produce a strong link in any retailer’s distribution chain. Retail goods Housing permits FY 2014-15 85 movement, whether the focus is grocery, e-commerce FY 2015-16 117 or traditional retail, has never been easier - or more cost effective - than in Hesperia’s Enterprise Zone. FY 2016-17 233 FY 2017-18 250
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