RANCON REAL ESTATE
LA Ventana LA VENTANA At Winchester RAnch FINAL TRACT MAP 31100 | 220 Single Family Lots in Winchester, CA
Ver. 062118
Building Relationships Building Communities Building A Legacy LA Ventana RANCON REAL ESTATE At Winchester RAnch
TABLE OF CONTENTS
PROJECT OVERVIEW Executive Summary I-1 Site Plans I-4 LA Ventana Aerial Map I-5 At Winchester RAnch Location Map I-8 Site Photos I-9 Area Photos I-10 Area Shopping I-11
RESIDENTIAL DEVELOPMENT STUDY DISCLAIMER Real Estate Economics II-1 THE INFORMATION CONTAINED IN THIS OFFERING MEMORANDUM HAS BEEN COMPILED FROM A VARIETY OF SOURCES BELIEVED TO BE RELIABLE, HOWEVER WE DO NOT GUARANTEE ITS ACCURACY. MARKET AREA OVERVIEW ALL ASPECTS OF THE PROPERTY SHOULD BE INDEPENDENTLY VERIFIED BY THE BUYER AND/OR THEIR Southwest Riverside County III-1 CONSULTANTS. Menifee III-2 Temecula III-3 Murrieta III-4 Diamond Valley Lake III-5
Project Overview
LA VENTANA - Executive Summary
RANCON REAL ESTATE is pleased to present for sale La Ventana. La Ventana LA Ventana represents a unique opportunity to purchase a 220 lot Final Tract Map approved At Winchester RAnch by the Riverside County Board of Supervisors March 20, 2018. Final Tract Map #31100 • 220 residential lots La Ventana’s convenient location on Simpson Road makes it easily accessible. • Park site • School site Located only two miles from Winchester Road and within less than a mile from • 77 gross acres Domenigoni Parkway, it has an ideal location within Winchester Ranch. • Minimum lot size 6,000 sq ft • Lot width 60 ft La Ventana is located in a dynamic unincorporated area northeast of the cities of Assessors Parcel Numbers Murrieta and Temecula, and adjacent to the rapidly developing City of Menifee • 461-150-007, 008, 009, & 015 and the French Valley area. It is conveniently located next to a major planned commercial element within the Master Plan. Location Located in the Winchester Ranch Master Planned Development within the The project has a minimum lot size of 6000 sq. ft. - minimum lot widths of 60 ft. unincorporated area of Riverside County, and 100 ft. respectively. The project is crafted for move up buyers coming from CA. The northern edge of the property is the surrounding counties of San Diego, Orange and Los Angeles. situated on Simpson Road.
Entitlement Status • Within the Winchester Hills Specific Plan 293 • TTM 31100 was approved July 26, 2006 • FM 31100 was recorded March 20, 2018
RANCON REAL ESTATE I-1 Project Overview
LA VENTANA - Executive Summary
PROJECT SIZE: Final Tract Map 31100: LA Ventana At Winchester RAnch • 220 residential lots • 77 gross acres CLOSE TO THESE AMENITIES • Minimum lot size 6,000 sq ft • Lot width 60 ft • Menifee 36-Hole, Championship Eldorado CFDs Golf Course and Country Club • Mt San Jacinto College - LOCATION: Located within the Winchester Ranch Master Planned Development with the Menifee Campus northern boundary of the property adjacent to Simpson Road, westerly • Parks boundary adjacent to La Ventana Road and southern boundary adjacent to • Quality Shopping Olive Road. • Diamond Valley Lake • Menifee Valley Medical Center PROPERTY CONDITION The property is currently vacant land. It has been dry farmed for a number • Loma Linda University Medical of years. Center - Murrieta
MUNICIPALITY Unincorporated area of Riverside County; Third Supervisoral District See pages I-10 - I-11 for area photos.
SCHOOL DISTRICTS: • Romoland School District • Perris Union High School District • Mt. San Jacinto College
UTILITIES: Water: Eastern Municipal Water District Sewer: Eastern Municipal Water District Gas: Southern California Gas Company Electric: Southern California Edison Phone: Verizon
RANCON REAL ESTATE I-2 Project Overview
LA VENTANA - Executive Summary
LA Ventana At Winchester RAnch
COMMUNITY FACILITIES DISTRICT: CFD 03-1 Newport Road: The county’s TUMF is helping to build a backbone system that will integrate regional highways and arterial systems. Landowners in the area created a CFD to raise approximately $18,000,000 to fund the major share of the construction of Newport Road.
CFD with EMWD for Fees - approximately $15,500 per unit.
ENTITLEMENT SUMMARY: Final Tract Map 31100 was approved on March 20, 2018 by the Riverside County Board of Supervisors.
INFRASTRUCTURE: The project has the infrastructure stubbed to the site boundary.
COMMUNITY PARKS: La Ventana includes a 5-acre joint use park site and a 15-acre school site. A 34-acre regional sports park is planned approximately 1.5 miles to the east on Olive Road.
RANCON REAL ESTATE I-3 Project Overview
LA VENTANA - FM 31100
LA Ventana At Winchester RAnch RANCON REAL ESTATE I-4 LA VENTANA - Aerial
TRACT NO. 31582 122 Blue-Top Lots
TRACT NO. 31582-1 147 Finished Lots
ALSO AVAILABLE
LA Ventana At Winchester RAnch FM 31100 ─ East View ─ LA VENTANA I-5 RANCON REAL ESTATE FM 31100 LA VENTANA - Aerial
TRACT NO. 31582 122 Blue-Top Lots
TRACT NO. 31582-1 147 Finished Lots
KB HOMES
LENNAR HOMES
LA Ventana At Winchester RAnch FM 31100 Aerial flown 4/2013 LA VENTANA I-6 RANCON REAL ESTATE FM 31100 LA VENTANA - Aerial
LA Ventana At Winchester RAnch FM 31100 ─ Southeast Facing View ─ LA VENTANA I-7 RANCON REAL ESTATE FM 31100 Project Overview
LA VENTANA - Location Map
LA Ventana At Winchester RAnch
♦ La Ventana’s convenient location on Simpson Road makes it easily accessible. Located only two miles from Winchester Road and within less than a mile from the new Newport Road, it has an ideal location within Winchester Ranch.
Riverside BOULDER MIDDLE FUTURE Moreno Valley MENIFEE VALLEY SCHOOL COMMERCIAL FUTURE LA Ventana MEDICAL CENTER COMMERCIAL HERITAGE At Winchester RAnch MC CALL BLVD LAKE
SIMPSON ROAD SHEA HOMES DR HORTON
MENIFEE ROAD LENNAR Lake ELDORADO Perris 215 RYLAND OASIS RICHMOND FORECAST
LINDENBERGER ROAD LINDENBERGER OLIVE ROAD AMERICAN HOMES DOMENIGONI HOMES Perris Nuevo MENIFEE LAKES PARKWAY
MENIFEE LAKES Hemet GOLF COURSE FUTURE DR HORTON THE NEWPORT FIRE Winchester COMMERCIAL TIERRA SHORES HUB NEWPORT ROAD STATION DOMENIGONI PARKWAY FUTURE NEIGHBORHOOD LEON ROAD MENIFEE COMMERCIAL Lake Elsinore Menifee SHOPPING LENNAR Diamond MARKETPLACE Valley Lake Lake CENTEX Elsinore MENIFEE LAKES CHARTER THE LAKES ELEMENTARY MENIFEE ROAD
SCHOOL ROAD BRIGGS Murrieta Temecula MT SAN JACINTO LA Ventana COLLEGE RANCON LAKE At Winchester RAnch COMMUNITY NAUTICAL COVE
RANCON REAL ESTATE I-8 Project Overview
LA VENTANA - Site Photos
LA Ventana At Winchester RAnch
PROJECT PHOTOS
1 Southwest corner facing Northeast to Leon Rd. 1 2 3 2 Southwest corner facing Northeast to Leon Rd. & Simpson Rd.
3 Southwest corner facing North to Simpson Rd.
4 West side of property facing East to Leon Rd.
5 West side of property facing 4 5 6 Northeast to Simpson Rd. & Leon Rd.
6 West side of property facing Southeast to Leon Rd. & Olive Rd.
7 Northwest corner facing Southeast to Olive Rd.
8 West side of property facing West to Lindenberger Rd. 7 8
RANCON REAL ESTATE I-9 Project Overview
LA VENTANA - Area Photos
LA Ventana At Winchester RAnch
SURROUNDING AREA 1 The Lakes - Centex Homes 2 Heritage Lake 1 2 3 3 Heritage Lake 4 Menifee Lakes 5 Menifee Lakes 36-Hole Championship Golf Course
6 Menifee Lakes Country Club 7 Mt San Jacinto College 4 5 6 8 Loma Linda Medical Center - Murrieta
9 Menifee Medical Center
7 8 9
RANCON REAL ESTATE I-10 Project Overview
LA VENTANA - Area Shopping
LA Ventana At Winchester RAnch
AREA SHOPPING 1 Menifee Countryside Marketplace 2 Chipotle 1 2 3 3 BJ’s Restaurant and Brewhouse 4 Panera Bread 5 Best Buy 6 Super Target 7 Kohl’s
4 5 6 8 Lowe’s 9 New Stater Bros Grocery
Shopping all located less than two miles from the project at the intersection of I-215 and Newport Road.
7 8 9
RANCON REAL ESTATE I-11 Residential Development Study NEW HOUSING DEVELOPMENT - Real Estate Economics REAL ESTATE ECONOMICS RESIDENTIAL DEVELOPMENT SUMMARY New Housing Developments Surveyed in Select Areas of Riverside County as of 2018 Q1 Field Audit.
Sales Information PRICING INFORMATION FLOOR PLAN CHARACTERISTICS Min Est. Mo. Costs Map Total Units Units Monthly Sales List Advertised Price/ Maximum Size Bed Rm. Bath No. Of Garage Lot Size Assoc. Tax Mo. No. Development Builder City Community Units Off'd Avail. Quarter Overall Base Concess. Sq. Ft. Premiums (Sq. Ft.) Count Count Levels Spaces (Sq. Ft.) Dues Assess. Pymt. (1) 1 Province Brookfield Reside Menifee Audie Murphy Ranch 90 68 9 2.83 2.92 $436,588 $5,000 $137.55 $0 3,192 4.3 2.7 1.3 2.0 7,500 $98 $324 $2,518 2 Willow Tree RSI Communities Menifee Audie Murphy Ranch 102 41 11 2.83 6.21 $396,656 $2,500 $163.36 $0 2,447 3.8 2.9 1.8 2.0 6,800 $99 $295 $2,309 3 Ridge - The Richmond AmericMenifee Audie Murphy Ranch 86 42 8 1.77 3.37 $435,728 $12,000 $151.14 $53,181 2,875 3.9 3.0 1.5 3.0 7,200 $99 $284 $2,454 4 Dakota Woodside Homes Menifee Audie Murphy Ranch 112 48 6 3.18 3.06 $397,190 $7,500 $162.47 $0 2,402 3.2 2.7 1.8 2.5 5,200 $85 $300 $2,285 5 Carmel CAL Atlantic Menifee Heritage Lakes 110 110 2 0.39 2.59 $447,632 $5,000 $170.34 $23,135 2,651 4.8 3.0 1.5 3.0 7,600 $80 $369 $2,600 6 Lakeview II CAL Atlantic Menifee Heritage Lakes 118 91 5 1.93 3.60 $384,761 $10,000 $166.50 $6,804 2,359 3.7 2.7 1.8 2.3 5,275 $80 $312 $2,214 7 Newbridge CAL Atlantic Menifee Heritage Lakes 116 116 2 0.39 2.74 $485,206 $5,000 $152.65 $0 3,229 4.5 3.2 1.5 3.3 7,350 $80 $400 $2,813 8 Newport CAL Atlantic Menifee Heritage Lakes 117 22 2 4.62 3.54 $419,453 $5,000 $139.75 $8,349 3,014 4.2 3.7 1.8 2.8 6,300 $80 $311 $2,404 9 Parkview CAL Atlantic Menifee Heritage Lakes 69 22 3 3.47 3.36 $455,914 $5,000 $143.93 $6,498 3,258 4.3 3.3 1.5 3.3 7,400 $80 $338 $2,605 10 Cypress KB Home Menifee Hidden Hills 114 50 16 4.52 5.81 $364,430 $0 $212.96 $0 1,735 3.5 2.0 1.0 2.0 6,000 $68 $273 $2,111 11 Reflections at The Lakes Putte Menifee Menifee, The Lakes 54 4 3 0.62 0.62 $388,240 $0 $165.60 $0 2,388 4.0 2.5 1.7 2.0 26,136 $179 -$357 $1,715 12 Heritage Heights Lennar Homes Menifee Menifee 122 44 8 3.85 6.72 $393,878 $7,000 $195.20 $596 2,053 3.4 2.1 1.0 2.0 7,200 $0 $272 $2,140 13 Mountain Gate Woodside Homes Menifee Menifee 116 116 1 0.77 3.80 $402,098 $7,500 $186.86 $0 2,158 4.1 2.6 1.5 2.0 6,300 $0 $302 $2,177 14 Cottonwood Pacific Communiti Menifee Pacific Mayfield 190 188 14 4.29 1.33 $384,926 $5,000 $131.44 $3,625 3,081 3.6 3.0 2.0 2.5 5,000 $45 $251 $2,127 15 Primose Pacific Communiti Menifee Pacific Mayfield 134 15 2 1.38 1.38 $377,990 $5,000 $181.96 $0 2,098 2.0 2.2 1.0 2.0 4,000 $92 $77 $1,974 16 Retreat DR Horton Menifee The Holiday 108 53 14 4.21 4.21 $332,201 $5,000 $186.38 $5,205 1,800 2.0 2.3 1.0 2.0 5,000 $168 $177 $1,934 17 Camellia Lennar Homes Menifee The Lakes 143 143 1 0.41 4.09 $455,158 $7,000 $191.51 $0 2,420 3.7 2.7 1.7 3.0 6,800 $192 $299 $2,668 18 Mariposa Lennar Homes Menifee The Lakes 110 54 4 2.47 5.17 $388,844 $7,000 $200.90 $1,465 1,941 3.3 2.5 1.0 2.0 6,250 $192 $255 $2,303
OVERALL AVERAGES: 111.7 68.2 6 2.44 3.58 $408,161 $5,583 $168.92 $6,048 2,506 3.7 2.7 1.5 2.4 7,406 $95 $249 $2,297 GRAND TOTALS: 2,011 1,227 111 43.90 64.50 WEIGHTED AVERAGES: $405,300 $174.43 2,409
Audie Murphy Ranch 390 199 34 10.61 15.55 $416,541 $6,750 $153.63 $13,295 2,729 3.8 2.8 1.6 2.4 6,675 $95 $301 $2,391 Heritage Lakes 530 361 14 10.78 15.83 $438,593 $6,000 $154.63 $8,957 2,902 4.3 3.2 1.6 2.9 6,785 $80 $346 $2,527 Hidden Hills 114 50 16 4.52 5.81 $364,430 $0 $212.96 $0 1,735 3.5 2.0 1.0 2.0 6,000 $68 $273 $2,111 Menifee 238 160 9 4.62 10.52 $397,988 $7,250 $191.03 $298 2,106 3.8 2.3 1.3 2.0 6,750 $0 $287 $2,159 Menifee, The Lakes 54 4 3 0.62 0.62 $388,240 $0 $165.60 $0 2,388 4.0 2.5 1.7 2.0 26,136 $179 -$357 $1,715 Pacific Mayfield 324 203 16 5.67 2.70 $381,458 $5,000 $156.70 $1,813 2,589 2.8 2.6 1.5 2.3 4,500 $69 $164 $2,050 The Holiday 108 53 14 4.21 4.21 $332,201 $5,000 $186.38 $5,205 1,800 2.0 2.3 1.0 2.0 5,000 $168 $177 $1,934 The Lakes 253 197 5 2.88 9.26 $422,001 $7,000 $196.21 $732 2,180 3.5 2.6 1.3 2.5 6,525 $192 $277 $2,485
Note: community sales reflects total monthly sales for all individual new home developments within the community LA Ventana At Winchester RAnch Note: Monthly Costs assume 80.00% LTV and 4.000% fixed 30yr. mortgage Note: Dens, bonus rooms, lofts, etc. are counted as bedrooms NEW HOME PROJECTS Report run on: 2018-03-07 ─ Menifee, CA ─ Source: Real Estate Economics Copyright 2003-2015 Real Estate Economics 1st Qtr 2018 Real Estate Economics
GENERAL DISCLAIMER II-1 IN RECEIVINGRANCON THIS DOCUMENT, YOU REAL EXPRESSLY UNDERSTANDESTATE AND AGREE THAT: (a) WHILE REAL ESTATE ECONOMICS USES REASONABLE EFFORTS TO INCLUDE ACCURATE AND UP-TO-DATE INFORMATION, WE MAKE NO WARRANTIES OR REPRESENTATIONS OR WARRANT AS TO THE ACCURACY OF THE CONTENT AND ASSUME NO LIABILITY OR RESPONSIBILITY FOR ANY ERROR OR OMISSION IN THE CONTENT. REAL ESTATE ECONOMICS DOES NOT REPRESENT THAT USE OF ANY CONTENT WILL NOT INFRINGE RIGHTS OF THIRD PARTIES. REAL ESTATE ECONOMICS HAS NO RESPONSIBILITY FOR ACTIONS OF THIRD PARTIES OR FOR CONTENT PROVIDED BY OTHERS. (b) YOUR USE OF REALESTATEECONOMICS.COM IS AT YOUR OWN RISK. THE SITE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. TO THE FULLEST EXTENT PERMISSIBLE, PURSUANT TO APPLICABLE LAW, WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. (c) REAL ESTATE ECONOMICS DOES NOT WARRANT OR REPRESENT THAT (i) THE SITE WILL MEET YOUR REQUIREMENTS, (ii) THE SITE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (iii) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SITE WILL BE ACCURATE OR RELIABLE, (iv) THE QUALITY OF ANY PRODUCTS, SERVICES, OR INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SITE WILL MEET YOUR EXPECTATIONS, (v) THE SERVER THAT MAKES THE SITE AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS; OR (vi) ANY UNKNOWN ERRORS IN THE SOFTWARE WILL BE. (d) ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SITE IS DONE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY LOSS OR DAMAGE INCURRED, INCLUDING, WITHOUT LIMITATION, DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL. YOU (AND NOT REAL ESTATE ECONOMICS OR ANY OF OUR AFFILIATED COMPANIES OR ANY OF OUR OR THEIR RESPECTIVE LICENSORS OR SUPPLIERS) ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION. (e) NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM REAL ESTATE ECONOMICS OR THROUGH OR FROM THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS AND CONDITIONS OF USE. APPLICABLE LAW MAY NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU. 2:00 PM 3/7/2018 Page 1 of 1 Menifee 1st qtr 2018 Residential Development Study NEW HOUSING DEVELOPMENT - Real Estate Economics LA Ventana At Winchester RAnch
LA Ventana At Winchester RAnch NEW HOME PROJECTS ─ Menifee, CA ─ 1st Qtr 2018
RANCON REAL ESTATE II-2 Market Overview SOUTHWEST RIVERSIDE COUNTY - at a Glance SOUTHWEST RIVERSIDE COUNTY is one of In the hey-day of the last building boom more All three of these bordering counties have grown Southern California’s hottest real estate markets. than a dozen major builders took positions in the toward each other historically, and because of the Located between the San Diego and Los Angeles Winchester Valley and shared a themed vision geography — Pacific Ocean to the west, U.S. / metropolitan areas, and contiguous with Orange known as Winchester Ranch. Today, many of the Mexican Border to the south—the pattern of growth County to its west, Southwest Riverside County approved plans for subdivisions are still in place as is naturally funneled toward Riverside County. is experiencing unprecedented growth in part are the plans for the underlying infrastructure. Some Southwest Riverside County, due to its location, because of build-out and price barriers in the other major infrastructure components including sewer climate and infrastructure, is the most desirable area three metropolitan areas, and in part because it is are still in the finance/planning stage. While the to live in Riverside County, according to the Southwest just a great place to live. recession stalled development in this key area, the Riverside County Economic Development Corporation. new wave of demand for new housing will definitely This area covers approximately 600 square miles find its way back to the Winchester Valley. and includes the cities of Temecula, Murrieta, Menifee and Wildomar and the unincorporated The French Valley area grew significantly in the past areas of Winchester and French Valley. Temecula decade to the point where only fill-in properties are and Murrieta — known as the “Twin Cities of now available for new homebuilders. This is an area Southern California,” — both have populations along State Highway 79 / Winchester Road and just exceeding 100,000 and are both approaching east of both Temecula and Murrieta. French Valley build-out of developable land. Menifee and is in the natural path of development, and will likely Wildomar are strategically located along the reach build out during this current cycle of activity. area’s two growth corridors: the I-15 and the I-215. Both are growing young cities anxious to expand The growth in Southwest Riverside County during their tax base and populations. the past two decades has occurred because of population saturation in Los Angeles, San Diego, Winchester Valley is located just east of Menifee and Orange counties. Residents from all three along the Domenigoni Parkway, a six-lane major counties have migrated to Southwest County to thoroughfare completed, with the help of the purchase more affordable housing, while still having Rancon Group, in 2006. a manageable commute to work. Temecula Balloon and Wine Festival
RANCON REAL ESTATE III-1 Market Overview CITY OF MENIFEE - at a Glance THE CITY OF MENIFEE, like its neighboring city of The city is served by the Menifee Valley Medical Wildomar, is the next hot spot for new residential Center and nearby Loma Linda University Medical development in Southwest Riverside County. Both Center in Murrieta. Menifee is also home to the cities are located directly in the path of growth expanding San Jacinto College Menifee Campus. The stemming from the near-build out conditions in the city has a growing commercial sector anchored by cities of Temecula and Murrieta. the Menifee Countryside Marketplace power center along the I-215 freeway. Located just north of Murrieta in a booming area of Riverside County, Menifee is expected to become • Incorporated in October of 2008 one of the largest cities in the county. Interstate-215, • 50 square miles now under major expansion, provides excellent • Population of approximately 83,0001 access to both the Menifee and Winchester Valley • Estimated Population of 93,157 by 20202 properties. • Approximately 31,518 housing units in 20133 • Estimated 36,292 housing units in 20202 The City of Menifee incorporated in October of 2008. It encompasses approximately 50 square miles and is Located along the I-215 Corridor, the City of Menifee Lake bordered by the City of Perris to the north, Winchester Menifee is in a prime area for growth coming Valley to the east, the City of Murrieta to the south from the built out cities of Temecula and Murrieta. and the City of Canyon Lake to the west. In 2012, and the beginning of 2013, more single family homes were sold in Menifee than in Temecula The community of Menifee dates back to the 1880s and Murrieta combined (according to the SWC and was an area consigned to dry farming. Del Association of Realtors) and that trend is expected to Webb built a world famous senior citizens’ community continue through the next decade. known as Sun City, which is now a part of the City of Menifee. With a land area of 50 square miles, Menifee is projected to be the largest cities in both Heritage Lake population and size in Riverside County. 1 (City of Menifee); 2 (Southern CA Assoc. of Governments); 3 (CA Dept. of Finance) RANCON REAL ESTATE III-2 Market Overview CITY OF TEMECULA - at a Glance THE CITY OF TEMECULA has been the economic library and new Civic Center complex, the City of engine of Southwest Riverside County for the past Temecula has excelled at efficiency, with excellence 24 years. Along with neighboring Murrieta, Temecula in the design, construction and implementation of started booming in the 1980s and has grown public facilities. continually since. It has been rated as one of the safest cities to live in the United States, and also as • Incorporated in December of 1989 one of the top-10 cities in the state in which to do • 37.18 Square Miles business. Today, Temecula is estimated to be more • Population of approximately 104,879 up from than 91 percent built out of residential space. 57,716 in 20001 • Approximately 33,194 housing units in 20102 The City of Temecula was incorporated in December • Estimated 35,270 housing units in 2015, & of 1989. It encompasses approximately 34 square 36,321 in 20202 miles and is bordered by San Diego County to • Residential space approximately 91% built out3 the south, the City of Murrieta to the north, and unincorporated area of Riverside County to the east The City of Temecula is home to an extension of Harveston and the Santa Rosa Mountains to the west. California State University San Marcos, and multiple private universities including University of Phoenix Temecula has a rich and storied history dating back and the University of Redlands. City planners have to the mid-1800s. It was a stop on the Butterfield a long-range goal of attracting at least one more Stage Line, had a Pony Express station and had large university to the area to help fuel economic one of the first United States Post Offices in development. The recently completed Temecula California. The city has been the unqualified leader Valley Hospital features all private rooms, and a in residential, commercial and industrial growth for 20-bed intensive care unit (ICU). It has six high-tech Southwest Riverside County since the early 1980s. surgical suites, digital imaging and an advanced electronic clinical information system. It opened its From the renovation of Old Town Temecula, to the doors in September 2013. Community Theater, Children’s’ Museum, Sports Park, Old Town Temecula 1 (2013 California Department of Finance); 2 (County of Riverside); 3 (City of Temecula) RANCON REAL ESTATE III-3 Market Overview CITY OF MURRIETA - at a Glance THE CITY OF MURRIETA has consistently been one Murrieta is served by Rancho Springs Medical Center of the fastest growing cities in the United States since and the new Loma Linda University Medical Center incorporating in 1991. Like its “Twin” city Temecula, Murrieta. Loma Linda University owns property Murrieta was where residential development took surrounding the hospital, which is a part of a larger place in the booming cycles of the 1980s, late 1990s area slated to be developed as a “technology and early 2000s. Today, the City is estimated to be cluster” of research and development, bio tech, 87 percent built out of residential land. medical research, medical office and other related uses. Murrieta encompasses approximately 33 square miles and is bordered by the City of Temecula to • Incorporated in July of 1991 the South, the City of Wildomar to the north and the • 33 square miles City of Menifee to the north-east. Its western border • Population of approximately 105,832 in 2013, nudges up to the Santa Rosa Mountains and the up from 44,000 in 20001 communities of Deluz and LaCresta. • Approximately 34,812 housing units in 20102 • Estimated 36,162 housing units in 2015, & Like the other cities in Southwest Riverside County, 37,512 in 20202 Bear Creek Golf and Country Club Murrieta was a dry farming and ranching community • Residential space approximately 87% built out dating back to the 1880s. Historically a bedroom community, Murrieta has played a major role Located along the I-15 Corridor, the City of business attraction for Southwest Riverside County. Murrieta is primed for commercial, industrial and As Murrieta continues to expand in a north-easterly economic growth. The Rancon Group, founded direction, more than 2,000 acres have become in 1971, is headquartered in Murrieta and has available for upscale retail centers, quality hotels, developed numerous major commercial, industrial research and development facilities, medical and residential projects within the city and technology firms and first-rate healthcare facilities, surrounding communities. according to the City’s website. Santa Rosa Plateau 1 (2013 California Department of Finance); 2 (County of Riverside) RANCON REAL ESTATE III-4 Market Overview DIAMOND VALLEY LAKE - at a Glance DIAMOND VALLEY LAKE is a man-made wonder, Diamond Valley Lake with Lake Skinner to the located just a few miles from Diamond Crossing, It south. The Shipley Reserve features a multi-species measures almost five miles long and two miles wide protection agreement that protects the area’s and is up to 270-feet deep. It can hold more than natural inhabitants. The reserve is home to at least 260 billion gallons of water, enough to supply area eight types of habitat and up to 16 sensitive bird, residents with up to six months supply of water. Its animal and plant species. surface covers more than 4,500 acres, plenty of room for the avid fishermen that come from as far Today Diamond Valley Lake is much more than away as Japan just to get the chance to hook into a vital drinking water reservoir and world-class one of lake’s many species of genetically-selected fishery, it is a multi-use recreational and natural bass or trout. species reserve that will support generations of
visitors for years to come. Diamond Valley Lake - The place to fish, boat and Diamond Valley Lake is many things to many people. relax. Just a few minutes from Diamond Crossing. It is a pristine fishery stocked with bass, catfish and trout. It is also a 22,000 acre natural reserve where families and groups can spend the day walking the miles of multi-use trails surrounding the lake. It is an engineering masterpiece that is now the largest body of fresh water in Southern California. And, importantly, a drinking water reservoir that provides a lifeline for the area’s current and future residents.
Area environmentalists are pleased with preservation of open natural habitat surrounding the lake, which includes more than 9,000 acres of multi- species preservation land. Known as the Shipley Reserve, this open flowing waterway connects
RANCON REAL ESTATE III-5 RANCON REAL ESTATE
RANCON REAL ESTATE CORPORATION 41391 Kalmia Street | Suite 100 | Murrieta, CA 92562 T 951.696.0600 | F 951.834.9801
SELLER: La Ventana 242, LLC c/o Jim Lytle 41391 Kalmia Street | Suite 200 | Murrieta, CA 92562 Jim Lytle T 951.696.0600 | F 951.834.9801 DRE Lic #01310987 [email protected] • 951.200.2344
www.RanconGroup.com
Mike O’Donnell DRE Lic #01142511 Rancon Real Estate Corporation [email protected] • 951.200.2369 www.rancon.com • DRE Lic. #00906060
THE INFORMATION CONTAINED IN THIS OFFERING MEMORANDUM HAS BEEN COMPILED FROM A VARIETY OF SOURCES BELIEVED TO BE RELIABLE, HOWEVER WE DO NOT GUARANTEE ITS ACCURACY. ALL ASPECTS OF THE PROPERTY SHOULD BE INDEPENDENTLY VERIFIED BY THE BUYER AND/OR THEIR CONSULTANTS.
RANCON REAL ESTATE III-6