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T H E H O F F M A N C O M PA N Y
S O U T H E R N C A L I F O R N I A O F F I C E
18881 Von Karman Avenue, Suite 150
Irvine, California 92612
CA BRE #01473762
T 949.553.2020 | F 949.553.8449
www.hoffmanland.com
B R O K E R C O N TA C T
Norm Scheel, CA BRE #00999403
T 949.705.0932 | [email protected]
Zach Foster, CA BRE #01969482
T 949.705.0910 | [email protected]
O F F E R I N G D AT E
TUESDAY, APRIL 19TH, 2016 BY 5:00 PM
EXCLUSIVE OFFERING MEMORANDUM
The
Hoffman
Company
Leading the LandBrokerage IndustryC A L I F O R N I A + N E V A D A
FOOTHILL BLVDMILLIKEN AVE
CHU
RCH ST
ROCHESTER AVE
MAYTEN AVE
DAY CREEK BLVD
MOUNTAIN VIEW PARK
MILLIKENPARK
BASELINE RD
±1.25 AcresCity of Rancho CucamongaSan Bernardino County, CA
15
SUBJECT SITE
DISCLAIMERThe 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 Rancho Cucamonga, 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 Organization (“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.
Property Overview
Aerials, Maps & Photos
Area Overview
Market Overview
1
2
3
4
4-5
6-9
10-15
16-24
TABLE OF CONTENTS
Site Detail
±1.25 ACRES | RANCHO CUCAMONGA, CA
1PROPERTY OVERVIEW
4The
Hoffman
Company
Exclusive Offering Memorandum
Property Overview
The San Antonio Regional Hospital Property consists of approximately ±1.25 acres
of land that sits behind the medical center. Located in the Terra Vista Planned
Community, the property presents a fantastic development opportunity. The site will
require a lot line adjustment separating the property from the approximately 8.15 acre
medical center.
Location
North of Foothill Blvd and East of Milliken Ave.
Address
7777 Milliken Avenue, Rancho Cucamonga, CA 91730
Assessor’s Parcel Number
1090-241-01
Acres
±1.25
Zoning
MHO (Hospital and Related Facilities, Office)
Improvements
None.
SUBJECT SITE
Caption
±1.25 ACRES | RANCHO CUCAMONGA, CA
1PROPERTY OVERVIEW
5The
Hoffman
Company
Exclusive Offering Memorandum
Offering Guidelines
Seller
San Antonio Regional Hospital, a California Public Benefit Corporation
Proposed Deal Structure
All cash.
Asking Price
Submit on an as-is basis, all cash.
Due Diligence Period
30 days after escrow opens.
Deposits
The initial deposit upon opening of escrow shall be $50,000.
At the conclusion of the Due Diligence Period the deposit shall be increased to a total
of $100,000 and shall become non-refundable.
Close of Escrow
The sooner of Forty Five (45) days following the completion of the Due Diligence
Period, or legal transferable parcel.
Title and Escrow Company
First American
Offer Due Date
TUESDAY, APRIL 19TH, 2016
Broker Contact
Norm Scheel
CA BRE #00999403
T 949.705.0932
Zach Foster
CA BRE #01969482
T 949.705.0910
±1.25 ACRES | RANCHO CUCAMONGA, CA6The
Hoffman
Company
Exclusive Offering Memorandum
2AERIALS, MAPS & PHOTOS
Surrounding Vacant Land Owners
FOOTHILL BLVD
MIL
LIKE
N AV
E
MAY
TEN
AVE
CHURCH ST
MILLIKENPARK
MOUNTAIN VIEW PARK
SUBJECT SITE
±1.25 ACRES | RANCHO CUCAMONGA, CA7The
Hoffman
Company
Exclusive Offering Memorandum
2AERIALS, MAPS & PHOTOS
Close Up Aerial with Conceptual Plan Overlay
±1.25 ACRES | RANCHO CUCAMONGA, CA8The
Hoffman
Company
Exclusive Offering Memorandum
2AERIALS, MAPS & PHOTOS
Vicinity Aerial
15
210
WILSON AVE
BASELINE AVE
CHURCH ST
FOOTHILL BLVD
ARROW HWY
MIL
IKEN
AVE
DAY
CREE
K B
LVD
ETIW
ANDA
AVE
LOANMARTFIELD
KENYON PARK
MOUNTAIN VIEW PARK
SPRUCE AVENUE
PARKSUBJECT SITE
±1.25 ACRES | RANCHO CUCAMONGA, CA9The
Hoffman
Company
Exclusive Offering Memorandum
2AERIALS, MAPS & PHOTOS
Assessor’s Parcel Map
±1.25 ACRES | RANCHO CUCAMONGA, CA
3AREA OVERVIEW
10The
Hoffman
Company
Exclusive Offering Memorandum
Area Attractions Map
SUBJECT SITE
RIVERSIDE
FONTANA
COLTON
JURUPA VALLEY
ONTARIO
EASTVALE
CHINO
NORCO
UPLAND
CORONA
POINTS OF INTEREST
Ontario Mills Mall
LA/Ontario International Airport
Victoria Gardens
Auto Club Speedway
The Cove /Jurupa Aquatic Center
Jurupa Hills Country Club
Paradise Knolls Golf Course
Galleria at Tyler
Castle Park
Mission Inn
Downtown Riverside
Riverside City College
University of California, Riverside
Crossings at Corona
Shops at Dos Lagos
Chino Airport
Prado Regional Park
Chino Hills State Park
Mt. Rubidoux
La Sierra University
George Ingalls Equestrian Event Center
Dos Lagos Golf Course
Champions Club at The Retreat
18
CHINO HILLS STATE PARK
S O U T H T O T E M E C U L A
N O R T H T O V I C T O R V A L L E Y
WES
T TO O
RAN
GE/LA C
OU
NTIES EA
ST
TO
CO
ACH
ELLA
VAL
LEY
10
10 10
15
15
215
215
60
91
71
1
16
3
18
5
20
7
22
23
9
11
13
15
2
17
4
19
6
21
8
10
12
14
4
2
3
16
PRADO VIEWREGIONAL PARK
17Ingalls Equestrian
Event Center
21
7
20
5
D OW N T OW N
11 10
12 13
89
142215
23
MT RUBIDOUX
196
1
±1.25 ACRES | RANCHO CUCAMONGA, CA
3AREA OVERVIEW
11The
Hoffman
Company
Exclusive Offering Memorandum
Rancho Cucamonga & Demographics
RANCHO CUCAMONGA
State
County
Mayor
Incorporated
Website
Historical Annual Growth
Forecasted Annual Growth
1.1%
1.1%
California
Rancho Cucamonga
L. Dennis Michael
November 30,1977
cityofrc.us
C I T Y I N F O : R A N C H O C U C A M O N G A P O P U L AT I O N ( 2 016 ) T O P S C H O O L S B Y A P I S C O R E
W E AT H E R
C I T Y O F R A N C H O C U C A M O N G A : T O T A L P O P U L AT I O N
Source: wikipedia.org and cityoforange.org Source: wikipedia.org and weather.com
Source: Zonda Source: Zonda
Source: Zonda; US Census; Nielsen; Meyers Research LLC Source: wikipedia.org
176,624
Total Population
No. of Households
Median Household Income
Homeownership Rate
Median Age
School
Elementary: Terra Vista (K-6)
Middle: Ruth Musser (K-8)
High: Los Osos (9-12)
January Average
July Average
Precipitation
176,624
56,735
$77,981
64.1%
36.0
2013 API
892
841
845
High 70º, Low 47º
High 83º, Low 63º
High Feb 3.5”, Low Jul 0.0”
M A J O R E M P L O Y E R SAccording to the City’s 2011 Comprehensive Annual Financial Report, the top
employers in the city are:
1 Etiwanda School District 1,312
2 Chaffey College 1,300
3 Amphastar Pharmaceuticals 999
4 City of Rancho Cucamonga 880
5 Alta Loma School District 783
6 Macy’s 750
7 Central School District 680
8 West Valley Dentention Center 668
9 Big Lots 521
10 Mercury Insurance Company 509
±1.25 ACRES | RANCHO CUCAMONGA, CA
3AREA OVERVIEW
12The
Hoffman
Company
Exclusive Offering Memorandum
Rancho Cucamonga & Demographics
J O B G R O W T H ( Y E A R O V E R Y E A R )
A N N U A L J O B G R O W T H B Y S E C T O R
E T H N I C I T Y
T O P E M P L O Y E R S
Dec. 2015 Job Growth 2016 Job Forecast
New Jobs New Jobs
Source: Zonda; US Census; Nielsen; Meyers Research LLC
46,800 35,438Kaiser Permanente 5,000 - 9,999
Loma Linda University Children’s Hospital 5,000 - 9,999
Loma Linda University Medical Center 5,000 - 9,999
Naval Air Wargare Center 5,000 - 9,999
Ontario International Airport 5,000 - 9,999
U N E M P L O Y M E N T R AT EDec. 2015 Unemployment:
Dec. 2015 Unemployment:
6.3%5.9%
Others Asian
Two Plus Black
American Indian White
Pacific Islander Hispanic
10.7% 7.9%4.0% 8.3%0.6% 38.6%0.2% 29.8%
Jan. 2016 Job Growth 2016 Job Forecast
New Jobs New Jobs18,638 15,690
±1.25 ACRES | RANCHO CUCAMONGA, CA
3AREA OVERVIEW
13The
Hoffman
Company
Exclusive Offering Memorandum
Rancho Cucamonga & Demographics
H O U S E H O L D I N C O M E
P O P U L AT I O N G R O W T H
C R I M E R AT E P E R 1 , 0 0 0 P E O P L E
S C H O O L S
2016E Median Household Incomes
Jan. 2016E 2016F
$64,643 Total Crime Rate
45.46 4.02Violent Crime Rate
0.25 26.58Property Rate
1.46 0.05
0.48% 1.23%
H O U S E H O L D G R O W T HJan. 2016E 2016F
2.65% 1.10%
91730 CALIFORNIA
Source: Zonda; US Census; Nielsen; Meyers Research LLC
P O P U L AT I O N B Y A G E
W A L K A B I L I T Y
Walk Score 42 / 100
Terra Vista Elementary School 892
Etiwanda Intermediate School 830
Rancho Cucamonga High School 866
SCORE
±1.25 ACRES | RANCHO CUCAMONGA, CA
3AREA OVERVIEW
14The
Hoffman
Company
Exclusive Offering Memorandum
Rancho Cucamonga Over view
Source: www.cityoforange.org
Crowned by the majestic San Gabriel Mountains, the City’s planned communities and award-winning architecture reflect on a community
proud of its past and excited by its future. With over 20 parks and community facilities, and having highly rated schools, Rancho Cucamonga
has much to offer its residents. Businesses too are finding Rancho Cucamonga is a great place to call their home.
City Motto:
A World Class Community“
Chaffey CollegeThe college district serves the population
of the vibrant inland empire of western
San Bernardino County. Chaffey College
improves lives within the diverse
communities it serves through equal access
to quality occupational, transfer, general
education, and foundation programs in
a learning-centered environment where
student success is highly valued, supported,
and assessed.
www.chaffey.edu
Empire Lakes Golf CourseA Legend, Prestigious, a Symbol of
Excellence in Golf. Put those words together
and you get the award-winning Arnold
Palmer-designed Empire Lakes Golf Course.
Located 30 minutes north of Orange County
and east of Los Angeles County, this par 72
Championship layout brings tradition and
an extraordinary experience to the game of
golf.
www.empirelakes.com
Auto Club SpeedwayThe Auto Club Speedway (formerly California
Speedway) is located just five minutes from
Rancho Cucamonga. You can enjoy exciting
NASCAR races or attend various other events
that are scheduled throughout the year. Racing
at Auto Club Speedway is a full day of fun and
entertainment.
www.autoclubspeedway.com
Victoria Gardens Victoria Gardens is a pedestrian-oriented,
open-air, mixed-use town center in Rancho
Cucamonga, California. Located North of
Foothill Boulevard between Day Creek
Boulevard and Etiwanda Avenue by the
Interstate 15 freeway, the 147-acre project
consists of residential areas, office space,
retail stores, public plazas, a movie theater,
and a civic cultural arts center.
www.victoriagardensie.com
±1.25 ACRES | RANCHO CUCAMONGA, CA
3AREA OVERVIEW
15The
Hoffman
Company
Exclusive Offering Memorandum
RANCHO CUCAMONGAHIGH SCHOOL
3
ETIWANDA INTERMEDIATE SCHOOL
2
TERRA VISTA ELEMENTARY SCHOOL
1
FOOTHILL BLVD
MILLIK
EN AVE
CHURCH ST
DAY
CREE
K BL
VD
BASELINE RD
SUBJECT SITE
Area Schools Exhibit
Terra Vista Elementary School (K-6) 7497 Mountain View Dr, Rancho Cucamonga, CA 91730T 909-945-57152013 API Score: 892
Etiwanda Intermediate School (7-8)6925 Etiwanda AvenueEtiwanda, CA 91739T 909-899-17012013 API Score: 867
Rancho Cucamonga High School (9-12)13500 Victoria AvenueEtiwanda, CA 91739T 909-899-25312013 API Score: 811
1 2 3Great
SchoolsRating
9out of 10
GreatSchoolsRating
8out of 10
GreatSchoolsRating
8out of 10
ROCHESTE
R AVE
15
210
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
16The
Hoffman
Company
Exclusive Offering Memorandum
Rancho Cucamonga Detached Building Permits & Market Data
1030
544 546 583
159
286
155 184251
332 302
477
0
200
400
600
800
1000
1200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Detached Building Permits
# of Permits1030
544 546 583
159
286
155 184251
332 302
477
0
200
400
600
800
1000
1200
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Detached Building Permits
# of Permits
N U M B E R O F L I S T I N G S D AY S O N M A R K E TSep. 2015 # of Listings: Aug. 2015 Days on Market:
7,789 77
Source: Zonda; US Census; Nielsen; Meyers Research LLC
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
17The
Hoffman
Company
Exclusive Offering Memorandum
Market Data
T O T A L H O M E C L O S I N G S
T O T A L H O M E C L O S I N G S
T O T A L H O M E C L O S I N G S
Dec. 2015 Total Home Closings:
Dec. 2015 Total Home Closings:
Dec. 2015 Total Home Closings:
Dec. 2015 Total New Closings:
Dec. 2015 Total New Closings:
Dec. 2015 Total New Closings:
Dec. 2015 Total Existing Closings:
Dec. 2015 Total Existing Closings:
Dec. 2015 Total Existing Closings:
25,394
1,942
706
1,790
209
15
23,604
1,733
691
Source: Zonda; US Census; Nielsen; Meyers Research LLC
San Bernardino County
Rancho Cucamonga
91730 Zip Code
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
18The
Hoffman
Company
Exclusive Offering Memorandum
Market Data
C L O S I N G H O M E P R I C E
C L O S I N G H O M E P R I C E
C L O S I N G B Y P R I C E R A N C H ( L A S T 1 2 M O N T H S )
D E T A C H E D A F F O R D A B I L I T Y
Dec. 2015 Median Detahced New:
Dec. 2015 Median Detahced New:
Dec. 2015 Median Detached Existings:
Dec. 2015 Median Detached Existings: New
New
Existing
Existing
$521,545
$459,310
$456,523
$383,591
Source: Zonda; US Census; Nielsen; Meyers Research LLC
City of Rancho Cucamonga
91730 Zip Code
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
19The
Hoffman
Company
Exclusive Offering Memorandum
Market Data
H O U S I N G T R A N S A C T I O N V O L U M E B Y T Y P E ( L A S T 1 2 M O N T H S )
N O T I C E O F D E F A U LT & F O R E C L O S U R E S ( L A S T 1 2 M O N T H S )
N O T I C E S O F D E F A U LT & F O R E C L O S U R E S ( L A S T 1 2 M O N T H S )
Dec. 2015 Total Foreclosures:
Dec. 2015 Total Foreclosures:
Dec. 2015 Notices of Default:
Dec. 2015 Notices of Default:
22
127
91
266
Source: Zonda; US Census; Nielsen; Meyers Research LLC
City of Rancho Cucamonga
91730 Zip Code
New Existing Foreclosure Foreclosure NOD
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
20The
Hoffman
Company
Exclusive Offering Memorandum
L A V E N T A N A
V I N T A G E @ C O R N E R S T O N E
L A N D M A R K @ C O R N E R S T O N E
H E R I T A G E @ C O R N E R S T O N E
C O R A L S K Y
C A L A B R I A
1
2
3
4
5
6
OPENED NOV 2014
OPENED SEP 2014
OPENED SEP 2014
OPENED AUG 2014
OPENED JUL 2014
Product Type: DetachedTotal Homes: 71Total Sold: 25Total Remaining: 46
Product Type: DetachedTotal Homes: 109Total Sold: 42Total Remaining: 67
Product Type: DetachedTotal Homes: 111Total Sold: 89Total Remaining: 22
Product Type: DetachedTotal Homes: 121Total Sold: 47Total Remaining: 74
Product Type: DetachedTotal Homes: 53Total Sold: 51Total Remaining: 2
Product Type: AttachedTotal Homes: 94Total Sold: 53Total Remaining: 41
Price Range: $824,880 - $901,880Price Per SF: $200 - $244Minimum Lot Size: 20,000 SFHouse Size: 3,381 - 4,506 SF
Price Range: $572,990 - $694,390Price Per SF: $204 - $282Minimum Lot Size: 7,000 SFHouse Size: 2,033 - 3,404 SF
Price Range: $474,290 - $578,190Price Per SF: $212 - $245 Minimum Lot Size: 6,000 SFHouse Size: 1,936 - 2,725 SF
Price Range: $514,506 - $640,690Price Per SF: $207 - $280Minimum Lot Size: 6,000 SFHouse Size: 1,839 - 3,093 SF
Price Range: $1,049,000 - $1,349,990Price Per SF: $301 - $313 Minimum Lot Size: 20,000 SF
Price Range: $447,880 - $493,880 Price Per SF: $248 - $270Minimum Lot Size: 3,200 SFHouse Size: 1,661 - 1,995 SF
Avg. Sales Rate: 1.69/Mo.Total Tax Rate: 1.06%HOA: $45/Mo.
Avg. Sales Rate: 2.51/Mo.Total Tax Rate: 1.10%HOA: $107/Mo.
Total Tax Rate: 1.10%HOA: $107/Mo.
Total Tax Rate: 1.10%HOA: $107/Mo.
House Size: 3,488 - 4,317 SFTotal Tax Rate: 1.20%HOA: $135/Mo.
Total Tax Rate: 1.12%HOA: $242/Mo.
Data as of 02/16/16 | Source: Zonda’s Meyers Research & Builder Websites
OPENED JUN 2014
Rancho Cucamonga Actively Selling Projects
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
21The
Hoffman
Company
Exclusive Offering Memorandum
Data as of 02/16/16 | Source: Zonda’s Meyers Research & Builder Websites
Rancho Cucamonga Actively Selling Projects
P H O E N I X C R E S T
A D E G A
R I D G E V I E W
T O S C A N A
7
8
9
10
OPENED MAR 2015
OPENED NOV 2015
SOLD OUT
OPENED NOV 2015
Product Type: DetachedTotal Homes: 95Total Sold: 12Total Remaining: 83
Product Type: DetachedTotal Homes: 31Total Sold: 4Total Remaining: 27
Product Type: DetachedTotal Homes: 5Total Sold: 5Total Remaining: 0
Product Type: DetachedTotal Homes: 7Total Sold: 0Total Remaining: 7
Price Range: $729,990 - $818,990Price Per SF: $202 - $272Minimum Lot Size: 8,600 SFHouse Size: 2,682 - 4,055 SF
Price Range: $474,990- $488,990Price Per SF: $238 - $252Minimum Lot Size: 3,000 SFHouse Size: 1,888 - 2,051 SF
Price Range: $781,990 - $874,990Price Per SF: $213 - $240Minimum Lot Size: 27,000 SFHouse Size: 3,253 - 4,109 SF
Price Range: $936,500 - $942,500Price Per SF: $248 - $265Minimum Lot Size: 21,780 SFHouse Size: 3,535 - 3,804 SF
Total Tax Rate: 1.05%HOA: $222/Mo.
Total Tax Rate: 1.25%HOA: n/a
Avg. Sales Rate: 1.25/ Mo.HOA: n/a
Avg. Sales Rate: n/aHOA: n/a
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
22The
Hoffman
Company
Exclusive Offering Memorandum
Rent Comparable Analysis
Source: Reis Report Q4-2015
11660 Church St., Rancho CucamongaProperty Size: 503 UnitsCurrent Asking Rent/Unit: $2,276Current Vacancy Rate: 1.0%
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
StudioN/AN/AN/AN/A
1BR$2,022
914188
$2.21
2BR$2,401
1,163251
$2.06
3BR$2,532
1,60964
$1.57
Averages$2,318
1,228167
$1.94
Submarket: Rancho CucamongaFloors: 2Year Built: 2005Class: A
HOMECOMING at TERRA VISTA I
11755 Malaga Dr., Rancho CucamongaProperty Size: 306 UnitsCurrent Asking Rent/Unit: $2,648Current Vacancy Rate: 19.3%
10855 Church St., Rancho CucamongaProperty Size: 192 UnitsCurrent Asking Rent/Unit: $2,463Current Vacancy Rate: 0.5%
7868 Milliken Ave., Rancho CucamongaProperty Size: 166 UnitsCurrent Asking Rent/Unit: $2,205Current Vacancy Rate: 1.8%
10950 Church St., Rancho CucamongaProperty Size: 358 UnitsCurrent Asking Rent/Unit: $2,213Current Vacancy Rate: 0.8%
11660 Church St., Rancho CucamongaProperty Size: 44 UnitsCurrent Asking Rent/Unit: $2,296Current Vacancy Rate: 2.3%
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
StudioN/AN/AN/AN/A
StudioN/AN/AN/AN/A
StudioN/AN/AN/AN/A
StudioN/AN/AN/AN/A
StudioN/AN/AN/AN/A
1BR$2,925
96856
$3.02
1BR$2,358
98071
$2.41
1BRN/AN/AN/AN/A
1BRN/AN/AN/AN/A
1BR$2,148
91416
$2.35
2BR$2,435
1,428119
$1.71
2BR$2,509
1,444100
$1.74
2BR$2,101
1,028134
$2.04
2BR$2,060
1,128172
$1.83
2BR$2,179
1,16322
$1.87
3BR$2,706
1,783118
$1.52
3BR$2,585
1,81820
$1.42
3BR$2,642
1,31632
$2.01
3BR$2,355
1,483186
$1.59
3BR$3,116
1,6086
$1.94
Averages$2,688
1,39397
$2.08
Averages$2,484
1,41463
$1.85
Averages$2,371.50
2,34483
$2.02
Averages$2,207.50
1,305179
$1.71
Averages$2,481
1,22814
$2.05
Submarket: Rancho CucamongaFloors: 2Year Built: 2015Class: A
Submarket: Rancho CucamongaFloors: 3Year Built: 2012Class: A
Submarket:Rancho CucamongaFloors: 2Year Built: 2003Class: A
Submarket: Rancho CucamongaFloors: 2Year Built: 2003Class: A
Submarket: Rancho CucamongaFloors: 2Year Built: 2007Class: A
THE ENCLAVE SANTA BARBARA APARTMENTS
DEL MAR-LI JAMBOREE APARTMENTS + TOWNHOMES
HOMECOMING at TERRA VISTA PH I
Numbers correspond to location map on page 24.
1 4
2 5
3 6
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
23The
Hoffman
Company
Exclusive Offering Memorandum
Rent Comparable Analysis
Source: Reis Report Q4-2015
11343 Mountain View Dr., Rancho CucamongaProperty Size: 256 UnitsCurrent Asking Rent/Unit: $1,953Current Vacancy Rate: 1.2%
7903 Elm Ave., Rancho CucamongaProperty Size: 384 UnitsCurrent Asking Rent/Unit: $2,035Current Vacancy Rate: 1.6%
10850 Church St., Rancho CucamongaProperty Size: 306 UnitsCurrent Asking Rent/Unit: $1,906Current Vacancy Rate: 1.3%
7922 Day Creek Blvd., Rancho CucamongaProperty Size: 319 UnitsCurrent Asking Rent/Unit: $1,762Current Vacancy Rate: 2.5%
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
Current Asking Rent/UnitUnit Size (SF)UnitsCurrent Asking Rent/SF
StudioN/AN/AN/AN/A
StudioN/AN/AN/AN/A
StudioN/AN/AN/AN/A
StudioN/AN/AN/AN/A
1BR$1,725
62880
$2.75
1BR$1,801
711152
$2.53
1BR$1,645
86060
$1.91
1BR$1,669
802140
$2.08
2BR$2,056
968176
$2.12
2BR$2,103
1,028176
$2.05
2BR$2,879
1,026198
$1.83
2BR$1,835
1,142179
$1.61
3BRN/AN/AN/AN/A
3BR$2,456
1,16456
$2.11
3BR$2,342
1,26048
$1.86
3BRN/AN/AN/AN/A
Averages$1,890
798128
$2.43
Averages$2,120
967128
$2.23
Averages$2,288
1,048102
$1.86
Averages$1,752
972159
$1.84
Submarket: Rancho CucamongaFloors: 2Year Built: 1990Class: A
Submarket: Rancho CucamongaFloors: 2Year Built: 1989Class: A
Submarket:Rancho CucamongaFloors: 3Year Built: 2001Class: A
Submarket: Rancho CucamongaFloors: 3Year Built: 2006Class: A
MONTECITO DEL MAR I
CARMEL at TERRA VISTA AMLI at VICTORIA ARBORS
Numbers correspond to location map on page 24.
7 9
8 10
±1.25 ACRES | RANCHO CUCAMONGA, CA
4MARKET OVERVIEW
24The
Hoffman
Company
Exclusive Offering Memorandum
Rent Comparable Location Map
E FOOTHILL BLVD
HAVEN AVE
MIL
LIKE
N AV
E
TERRA VISTA PKWY
CHURCH ST1
234
5
67
8
9
10
SUBJECT SITE
VICTORIA PARK LN
RALPH LEWIS PARK
W GREENWAY PARK MILLIKEN
PARK
ROCH
ESTER AVE
SPRUCE AVENUE PARK
COYOTECANYON PARK
Numbers correspond to charts on pages 22 & 23
S O U T H E R N C A L I F O R N I A O F F I C E
18881 Von Karman Avenue, Suite 150
Irvine, California 92612
T 949.553.2020 | F 949.553.8449
www.hof fmanland.comTHE HOFFMAN COMPANYC O A C H E L L A VA L L E Y O F F I C E
777 E Tahquitz Way, Suite 200
Palm Springs, California 92262
T 760.969.7357 | F 949.553.8449
N O R T H E R N C A L I F O R N I A O F F I C E
2121 North California Blvd., Suite 290
Walnut Creek, California 94596
T 925.478.8429 F 949.553.8449
N E VA D A O F F I C E
9205 W Russell Rd, Suite 240
Las Vegas, Nevada 89148
T 702.793.4370
The
Hoffman
Company
Leading the LandBrokerage IndustryC A L I F O R N I A + N E V A D A