Offering Memorandum
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OFFERING MEMORANDUM 28 SFR DEVELOPMENT OPPORTUNITY 1540 OAK ROAD SIMI VALLEY, CA 93063 AGGREGATEIP.COM CONFIDENTIALITY AGREEMENT 1540 OAK ROAD SIMI VALLEY, CA 93063 All materials and information received or derived from KW Commercial its directors, All financial data should be verified by the party including by obtaining and reading applicable documents and officers, agents, advisors, affiliates and/or any third party sources are provided without reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representation or warranty as to completeness , veracity, or accuracy, condition of the representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW property, compliance or lack of compliance with applicable governmental requirements, Commercial does not serve as a financial advisor to any party regarding any proposed transaction. developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties representation or warranty, express or implied, as to accuracy or completeness of the must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy materials or information provided, derived, or received. Materials and information from any factors and other issues in order to determine rents from or for the property. Legal questions should be source, whether written or verbal, that may be furnished for review are not a substitute for a discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public party’s active conduct of its own due diligence to determine these and other matters of accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. significance to such party. KW Commercial will not investigate or verify any such matters or Questions regarding the condition of the property and whether the property complies with applicable conduct due diligence for a party unless otherwise agreed in writing. governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE Commercial in compliance with all applicable fair housing and equal opportunity laws. DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify BROKER OF RECORD all information and to conduct their own inspections and investigations including through 251 S. Lake Avenue, Suite 320 appropriate third party independent professionals selected by such party. Pasadena, CA 91101 DRE: 01444805 CASEY PICARD, Managing Partner STEVE CHANG, Senior Partner 626.716.4451 Mobile 626.491.2668 Mobile 626.376.9224 Direct 626.381.9885 Direct [email protected] [email protected] DRE: 01921866 DRE: 02028509 2 SECTION 1 1540 OAK ROAD, SIMI VALLEY, CA 93063 OFFERING MEMORANDUM EXECUTIVE SUMMARY 3 SALE PRICE $1,400,000 PRICE/SF (LAND) $11.32 PROPERTY OVERVIEW Located on Oak Road in Simi Valley, California, this development asset is best suited for a planned development for multiple single MAXIMUM DENSITY (BUYER TO VERIFY) 28 Homes family dwellings. A developer will have the opportunity to entitle and build up to 28 homes (Buyer to verify). ZONING RMOD With an approximate size of 2.8 acres, the lot has a slight incline and rests south of the 118 Freeway. APN 6370-140-370 LOT SIZE ±2.8 Acres EXECUTIVE SUMMARY 4 THE OPPORTUNITY 1540 OAK ROAD, SIMI VALLEY, CA 93063 Within walking distance to Vons, Rite Aid, 7 Eleven, Jack in the Box, U.S. Bank, Pet Hospital, and many more that will meet any local's needs. Nearby parks include Verde Park, Arroyostow Park, Rocky Pointe Natural Park Nearby schools include Knolls Elementary, Simi Valley High School, White Oak Elementary, and Katherine Elementary. WALK SCORE OF 71 - Simi Valley has an average walk score of 71 with 124,237 residents. Most errands can be accomplished on foot. TRANSIT SCORE OF 61 - Within proximity to many public transport options; Amtrak, Metrolink, Bus Stations, etc. BIKE SCORE OF 58 - Simi Valley is somewhat bikeable. 5 LOCATION MAP 1540 OAK ROAD, SIMI VALLEY, CA 93063 OFFERING MEMORANDUM SECTION 2 1540 OAK ROAD, SIMI VALLEY, CA 93063 OFFERING MEMORANDUM LOCATION 7 SIMI VALLEY ATTRACTIONS ▪ Lost Canyons Golf Club ▪ Rancho Simi Community Pool SIMI VALLEY ▪ Ronald Reagan Presidential Library & Museum and Airforce One Simi Valley’s business community is growing continuously with over 7,500 enterprises Pavilion ranging from accounting firms to manufacturers. The community of Simi Valley produces an ▪ Santa Susana Railroad Depot & Museum inclusive, business-friendly atmosphere that recognizes the importance of a prosperous local ▪ Scooter’s Jungle economy to the community’s quality of life. A highly educated work-force, combined with ▪ Simi Hills Golf Course convenient location and highly competitive development costs, is a major attraction for many ▪ Simi Valley Cultural Arts Center corporations to the Simi Valley business community. ▪ Simi Valley Town Center ▪ Sinaloa Golf Course In Ventura County, wage and salary employment continues to rise, with the largest job ▪ Strathearn Historical Park & Museum growth in the previous year in the services industry. Manufacturing, Real Estate, Insurance, ▪ Wood Ranch Golf Club Trade, Transportation and Public Utilities also added thousands of new jobs. Simi Valley is proud to be called home to some of the country’s finest businesses – including Alcoa Fastening Systems, Bank of America, Farmers Insurance, and Milgard Manufacturing. 8 SIMI VALLEY, CA 1540 OAK ROAD, SIMI VALLEY, CA 93063 OFFERING MEMORANDUM BUSINESS Smaller companies in related fields and many different suppliers to the major companies are also located in the Simi Valley area, providing a great mix of large and small operations for the community and its residents. More recent additions to the local business community include a variety of Internet and technology companies, along with a growing number of manufacturing industries. Simi Valley is also a haven for small business, with many hundreds of small firms, stores, shops and home-based businesses that provide a wide variety of products and services. Companies considering relocating to Simi Valley will find retail, office and light industrial space at reasonable rates, a modern infrastructure, good transportation facilities, an extremely safe environment, affordable housing, excellent schools and a well-educated and motivated workforce. No. Employer Employees 1 Simi Valley Unified School District 2,177 2 Simi Valley Hospital & Health Care 832 3 Rancho Simi Recreation & Park District 626 4 City of Simi Valley 529 5 Meggitt Safety Systems, Inc. 321 6 McDonald’s 305 7 Poly-Tainer 275 8 WalMart 275 9 Costco 260 10 Milgard Manufacturing 250 9 SIMI VALLEY, CA 1540 OAK ROAD, SIMI VALLEY, CA 93063 OFFERING MEMORANDUM $107,927 126,580 42,406 5 mile radius average population in a 5 mile 5 mile radius households household income radius $450,000 7,500 7th median priced home in Business in Simi Rated safest city in the US Simi Valley Valley with a population of >100,000 TRANSPORTATION • Highway: Highway 118 runs through the City and connects with State Highways 23 and 101, Interstates 5, 405, and 210. • Air: Los Angeles International Airport, 42 miles; Burbank Airport, 26 miles; Camarillo Airport, 25 miles. • Rail: Union Pacific Railroad for freight service; Amtrak and Metrolink for passenger service. • Bus: The City operates a local bus system, with connections to Los Angeles County Metropolitan Transportation Authority (LACMTA) and Ventura Intercity Service Transit Authority (VISTA). Taxi services are also available. • Water: Port facilities are located in Port Hueneme, 34 miles. 10 28 SFR DEVELOPMENT OPPORTUNITY 1540 OAK ROAD OFFERING MEMORANDUM SIMI VALLEY, CA 93063 CASEY PICARD, Managing Partner BROKER OF RECORD 626.716.4451 Mobile 251 S. Lake Avenue, Suite 320 626.376.9224 Direct Pasadena, CA 91101 [email protected] DRE: 01444805 DRE: 01921866 STEVE CHANG, Senior Partner 626.491.2668 Mobile 626.381.9885 Direct [email protected] DRE: 02028509.