14 lot sfr development site rancho cucamonga, ca 91739 · the site / location the “etiwanda...

Evanisko Realty & Investment, Inc. BRE: 01383591

9.11 acres of residential infill land – one of the last remaining sites in coveted Etiwanda Estates

Tract Map application submitted for 14 lots averaging 25,436 SF each

Conveniently accessible public sewer connection

Initial architectural concept by MVE + Partners

$3,495,000

Exclusive Broker: Frank Evanisko

1 Etiwanda Estates 14 14 Lot SFR Development Site

Rancho Cucamonga, CA 91739 Offer Deadline

November 20, 2017


9.11 acres of residential infill land – one of the last remaining sites in coveted Etiwanda Estates

Tract Map application submitted for 14 lots averaging 25,436 SF each

Conveniently accessible public sewer connection

Initial architectural concept by MVE + Partners

$3,495,000

Exclusive Broker: Frank Evanisko (818) 985-9700



November 20, 2017

Introduction

Site is lender-owned.

Architectural concept plans by MVE+Partners were produced at the direction of the previous owner of the

property. The concept has undergone several revisions per discussions between MVE and the City of

Rancho Cucamonga though a formal Design Review Application has not been submitted. The complete

concept package by MVE cannot be formally utilized until a new contract with MVE is established. Select

portions of this design concept package are included herein to provide a general understanding of a

potentially viable product.

Michael Baker International has been formally contracted by the Seller to submit an application for 14

residential lots. The Tentative Tract Map application was formally submitted to the City of Rancho

Cucamonga on 10/3/2017. A list of the work product on page 15 applicable to this application including,

site plans, and all 3rd party reports are available in the comprehensive Due Diligence package.



November 20, 2017

Table of Contents

This brochure is organized into four sections for the purpose of

efficiently conveying the real estate, entitlement parameters,

financial viability, and submission guidelines for the development

opportunity being offered for sale.

Pages 5-7

Outlines the basic site specifications. In this instance, the site is being

offered for sale as a vacant residential development site with a

submitted application for 14 single family lots.

Pages 8-18

Outlines the entitlement, design, and product specifications for the proposed

development as well as the contents of the full Due Diligence Documents

Package which is currently available upon request.

Pages 19-29

Outlines and reviews applicable market activity and transactional data to

support the financial viability of the development site being offered for sale.

Pages 30-35

Outlines deadlines and further instructions for submitting purchase

proposals. OFFER DEADLINE November 20, 2017.


The

Site /


Rancho Cucamonga, CA 91739

The Site / Basic Site Specifications

6527 Etiwanda Ave.

City of Rancho Cucamonga, CA 91739

Approx 396,832 SF [9.11 acres]

County: San Bernardino

APN: 0227-051-03-0000

Zoning: Very Low Residential

School District: Etiwanda

Electric: Edison

Water: Cucamonga Valley Water

NOT A PART

CALTRANS



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The Site / Location

The “Etiwanda Estates 14” Development Site is located in the coveted Etiwanda

neighborhood of the City of Rancho Cucamonga. The location is defined by large lot

boutique subdivisions offering high-end single family homes and will afford a builder with

the opportunity to deliver the next premier single family housing development in the

rapidly growing City of Rancho Cucamonga.

Within a 1-mile radius of the subject site, no new tract map applications exist other

than the subject property, four projects in sell-out phase, and one project under

construction. Hence, there will likely be no direct close-proximity competing new

home subdivisions when the subject homes are completed.



1-Mile Radius

75 of 95 Sold

60 of 76 Sold

4 of 10 Sold

? of 11 Sold

16 Under Const.

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https://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=imgres&cd=&cad=rja&uact=8&ved=&url=https://www.kbhome.com/&psig=AFQjCNHmgLIfPjaZVEESM5bpNOqzlmnJ_g&ust=1505940439295413

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjwkaOIlLLWAhUBW2MKHSNbAVgQjRwIBw&url=http://tm-g.com/portfolio/&psig=AFQjCNG7zEOYXrBo08Z2KvwPtbOP2nuqpw&ust=1505941629834288

https://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjoqLzArcbWAhVJ3mMKHZQpB8EQjRwIBw&url=https://www.glassdoor.com/Overview/Working-at-Griffin-Residential-EI_IE1309556.11,30.htm&psig=AFQjCNGNGOq2oN3UyMHXpkJsjbZv_BkVwA&ust=1506635698930351

http://www.manninghomes.com/

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The

Development

//



Entitlements: Tentative Tract Map Application – Submitted 10/3/2017

Architectural Plans: Buyer To Process

Final Map: Buyer To Process

Etiwanda Estates 14 will offer a builder the opportunity to

acquire one of the few remaining undeveloped sites in the

coveted Etiwanda Estates neighborhood of the City of

Rancho Cucamonga.

The Development // Entitlement and Permit Status



The Development // Tentative Tract Map



Existing Client Agreement between Michael Baker International and the

Land Seller is assignable with no additional fees or stipulations.

The proposed 14 lot subdivision conforms to all land use and zoning

guidelines and will not require any discretionary modifications or

variances.

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The Development // Architectural Site Plan

The proposed architectural concept by MVE+Partners consists of three stylistic variations and four

separate floor plans. A basic four page flyer is available for the purpose of conveying MVE’s

proposed product concept. A Buyer would be required to contract separately with

MVE+Partners [or an architecture firm of their choice] to process a formal Design Review

submission and set of construction drawings.



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The Development // Finish Lot Defined Scope and Quantities Est. Diagram



**Conceptual Grading Sheet 1 with Savello Quantities – Available in DD Package

The Development // Finish Lot Cost Estimate

13 Etiwanda Estates 14

Summary Total Estimated Amount

Construction Items $1,636,888

10% Contingency $163,689

Total Construction Cost Est. $1,800,577

Condensed Summary of Savello & Associates Lot Development Budget Estimate.

Dated 10/18/2017. Full estimate available in the Due Diligence Folder.


Consulting Services $186,520


Total Consulting Services Est. $195,846


Assessments, Bonds & Fees $1,317,523


Total Assessments, Fees & Bonds Est. $1,357,049


Refunds & Reimbursements Est. ($23,404)

Total Lot Finishing Costs Est. $3,330,068

Total Per Lot Est. $237,862

Lot # Lot SF

Max Lot

Coverage

Permitted

SF as

Designed Style Floor Plan

Anticipated

Sale Price**

1 21,123 5,281 5,250 Country Plan 1

No Casita $1,350,000

2 21,200 5,300 4,816 Eclectic Plan 3

Casita Incl. $1,230,000

3 21,000 5,250 4,595 Provincial Plan 4


4 21,000 5,250 5,250 Eclectic Plan 1


5 21,800 5,450 4,816 Country Plan 3

Casita Inc. $1,230,000

6 21,000 5,250 4,139 Provincial Plan 2


7 26,496 6,624 5,525 Provincial Plan 1

With Casita $1,345,000

8 22,535 5,634 4,816 Country Plan 3


9 29,262 7,316 4,499 Eclectic Plan 2


10 25,574 6,394 4,595 Country Plan 4


11 23,526 5,882 4,499 Provincial Plan 2


12 36,309 9,077 4,816 Eclectic Plan 3


13 30,656 7,664 4,595 Provincial Plan 4


14 22,101 5,525 5,525 Eclectic Plan 1


The Development // Revenue Estimate


** Anticipated Sale Price is derived from current direct proximity sales of

similar new housing product. The supportive data points are outlined in the

next section.

$17,365,000 Gross Anticipated Revenue 4,838 SF Avg. Home Size in Concept

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The Development // MVE Rendering



JUL

The Development // General Development and Transaction Timeline

Seller formally submits

tentative tract application for

14 lots.

OCT

Open Escrow


NOV DEC JAN FEB MAR APR MAY JUN

Anticipated Tentative

Tract Approval

T R A N S A C T I O N

E N T I T L E M E N T

Close Escrow

TBD

1. Detailed Site Plan – Michael Baker International

2. Tentative Tract Map – Michael Baker International

3. Architectural Concept Teaser – MVE+Partners

4. Geotechnical Report – Sladden Engineering

5. Percolation Testing – Sladden Engineering

6. Full Executed Civil Engineer Client Agreement – Michael Baker International

7. Conceptual Grading Sheet 1- Michael Baker International

8. Conceptual Grading Sheet 1 – With Savello Quantities

9. Conceptual Grading Sheet 1 – Wall Material Clarification

10. Conceptual Grading Sheet 2 – Michael Baker International

11. Conceptual Utility Plan – Michael Baker International

12. Overhead Utility Exhibit – Michael Baker International

13. Earthwork Exhibit – Michael Baker International

14. Fire Access Plan - Michael Baker International

15. Tree Survey Report – Psomas

16. Air Quality and Greenhouse Gas Emissions Impact Analysis – Psomas

17. Noise Impact Analysis – Psomas

18. Phase 1 Cultural Resources Assessment – Psomas

19. Preliminary Hydrology Study – Michael Baker International

20. Proposal for Landscape Services – Architerra

21. Results of the Biological Constraints Survey - Psomas

22. Water Quality Management Plan – Michael Baker International

23. Completed Environmental Information Form

24. Preliminary Title Report 9-13-17 - Fidelity

25. Etiwanda Builder Proforma - Evanisko

26. CTC Budget- Savello & Assoc.

Due Diligence Documents List:

The Development // Due Diligence Documents


The Development // Principal Confidentiality Agreement

Please return this signed Confidentiality Agreement for access to the Due Diligence

Package listed on previous page.

The undersigned has been advised that Evanisko Realty & Investment, Inc. (the “Broker”) has been

retained on an exclusive basis by Parkview Financial Fund 2015, LP (the “Owner”) with respect to the

offering for sale of a potential 14 lot single family development site in Rancho Cucamonga, CA (the

“Property”). The Owner has indicated that all inquiries and communications with respect to the

contemplated investment in an acquisition of such property be directed to the Broker. The

undersigned is a principal in connection with the possible acquisition of the Property.

The Broker has available for your review certain information (“Confidential Information”) concerning

acquisition of the Property. On behalf of the Owner, Broker makes such Confidential Information

available to the undersigned upon execution of this Confidentiality Statement. The Confidential

Information is intended solely for your own limited use in considering whether to pursue acquisition of

the Property. This is not an agreement to sell the Property or an offer of sales. No agreement shall

be binding upon the Owner of the Property, or any of its associated or affiliated companies, nor shall

any agreement be deemed to exist, at law or equity, until the Owner of the Property enters into a

formal and final binding written agreement regarding acquisition of the Property.

By executing this Confidentiality Agreement you agree that the Confidential Information provided is

confidential, that you will hold and treat it in the strictest confidence, and that you will not disclose or

permit anyone else to disclose the Confidential Information to any person, firm or entity without prior

written authorization of the Owner and the Broker, except that the information may be disclosed to

your partners, employees, legal counsel and lenders or pursuant to a court order. Additionally you

agree to not to disclose your receipt of the Confidential Information, your interest in purchasing the

property and/or the terms or conditions of any offer(s) you make to purchase the Property, or take

any other action that could adversely effect the potential development of the Property. Owner

expressly reserves the right in its sole discretion to reject ay or all proposals or expressions of

interest in the Property and to terminate discussions with any party at any time with or without notice.

Accepted and Agreed [Date] ______________________ Signature _________________________

Name [Print] ___________________________________ Company ________________________

Address ____________________________ City __________ State _________ Zip __________

Phone ________________ Office _________________ Email ____________________________


The

Market

///



The Market /// Pertinent Market Activity


Close Proximity Resale Single Home Transactions – Details on Pages 25, 26, 27

Closed Sale

$1.4M

Active

$1.599M Pending

$1.385M

Closed Sale

$365K

Close Proximity Vacant Single Family Lot Transaction

APN: 0227-492-13

Closing Date: 7/5/2017

Lot Size: 25,260 SF

Price: $365,000

The Site / Immediate Homebuilding Activity



60 of 76 Sold

4 of 10 Sold

16 Under Const.

Subject Site.




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The Market /// Pertinent New Const. Market Activity


** Anticipated Sale Price [On Page 13] is derived from current direct

proximity sales of similar new housing product at the new home

developments and re-sale locations specified above. Relevant supportive

data points are outlined over the next few pages.

Etiwanda

Classics [16]

Phoenix

Crest [95]

La

Ventana [76]

Mueller’s

Grove [10]

Bella Vista

Estates [11]

Close Proximity Resale Single Home Transactions







La Ventana [KB Home]

6352 Tribeca Ct.


Product: 76 SFR

Status: 16 Unsold

Comp Sale: 6322 Tribeca Ct. [Residence Six Model]

SF: Approx 4,500 SF

Lot: Approx ½ Acre

Sale Price: Over $1,200,000 [$267/FT]


La

Ventana [76]



Bella Vista Estate [Griffin Residential]

5829 Pinto Pl.


Product: 11 SFR

Status: ? homes available

Comp Sale: 5829 Pinto Pl.

SF: Approx 4,442 SF

Lot: 22,095 SF

Sale Price: $1,047,990 [$236/FT] – Pending Per MLS


Bella Vista

Estates [11]



Phoenix Crest [Century Communities]

12341 Alamo Dr.


Product: 95 SFR

Status: 20 Unsold

Comp Sale: Cardinal Floor Plan

SF: 4,301 SF

Lot: Approx ¼ Acre

Sale Price: Five have sold over $1M with the highest

@ $1,244,000 [$289/FT.]


Phoenix

Crest [95]



Mueller’s Grove [GFR Homes]

East Ave. @ 210 Freeway


Product: 10 SFR

Status: Under Construction 6 Unsold

Comp Sale: Plan 3 [Largest in Subdivision]

SF: 3,996 SF

Lot: Approx 19,000 SF

List Price: $1,013,990 [$254/FT]


Mueller’s

Grove [10]



Resale Transaction #1

13098 Norcia Dr.


Product: Built 2005

Status: Closed Sale 5/12/17

SF: 5,832 SF

Lot: 25,310 SF

Sold Price: $1,400,000 [$240/FT]




6758 Di Carlo Pl.


Product: Built 2004

Status: Pending as of 9/27/17

SF: 5,700 SF

Lot: 32,080 SF

List Price: $1,385,000 [$243/FT]




13131 Norcia Dr.


Product: Built 2004

Status: Active as of 9/27/17

SF: 5,332 SF

Lot: 20,000 SF

List Price: $1,599,000 [$300/FT]


Offering

Guidelines

////



The Development // General Development and Transaction Timeline


JUL

Seller formally submits

tentative tract application for

14 lots.

OCT

Open Escrow

NOV DEC JAN FEB MAR APR MAY JUN

Anticipated Tentative

Tract Approval

T R A N S A C T I O N

E N T I T L E M E N T

Close Escrow

TBD

Transaction Structure: TBD

Price: $3,495,000

Submit Offers To: [email protected]

Buyer’s offer should include (i) Buyer’s assumption as to revenue projections per plan, on-site and

off-site construction cost estimates, costs per square foot to complete horizontal development

work and city impact fees, and (ii) Buyer’s relevant experience and financial wherewithal and its

intended equity and debt sources for completing the transaction.

Bid Submission Deadline: November 20th, 2017

Evanisko Realty & Investment, Inc. has been retained on an exclusive basis by the owner to manage the

marketing and disposition of this land asset.

Contact Frank Evanisko

(818) 985-9700

The information contained in this brochure has been obtained from sources we believe to be reliable. However,

Evanisko Realty & Investment, Inc. has not verified, and will not verify, any of the information contained herein, nor

has Evanisko Realty & Investment, Inc. conducted any investigation regarding theses matters and makes no warranty

or representation whatsoever regarding the accuracy or completeness of the information provided.

No representation or warranty, expressed or implied, is made by Evanisko Realty & Investment, Inc. or seller. Seller

may reject any or all expressions of interest and/or terminate discussions with any party at any time, for any reason,

with or without notice. No legal commitment or obligation of seller is made unless a written agreement for the

purchase has been fully executed, delivered and approved by seller.

Offering Guidelines //// Acquisition Terms



mailto:[email protected]

Exclusive Listing Broker:

Evanisko Realty & Investment, Inc.

BRE 01383591

Frank Evanisko

(818) 985-9700

[email protected]

www.TheDevelopmentBrokers.com

Evanisko Realty & Investment, Inc. was founded in

2004 with the mission of providing an unparalleled level of

brokerage service to owners of real estate slated for

virtually all forms of residential and commercial

redevelopment.

Evanisko’s dual focus as both a land development expert

and real estate broker enables the firm to offer a unique

form of advisory-based brokerage service to their exclusive

clients.

Offering Guidelines //// Listing Broker Contact Information







http://www.thedevelopmentbrokers.com/






Offering Guidelines //// Principal Confidentiality Agreement

Please return this signed Confidentiality Agreement for access to the Due Diligence

Package listed on previous page.

The undersigned has been advised that Evanisko Realty & Investment, Inc. (the “Broker”) has been

retained on an exclusive basis by Parkview Financial Fund 2015, LP (the “Owner”) with respect to the

offering for sale of a potential 14 lot single family development site in Rancho Cucamonga, CA (the

“Property”). The Owner has indicated that all inquiries and communications with respect to the

contemplated investment in an acquisition of such property be directed to the Broker. The

undersigned is a principal in connection with the possible acquisition of the Property.

The Broker has available for your review certain information (“Confidential Information”) concerning

acquisition of the Property. On behalf of the Owner, Broker makes such Confidential Information

available to the undersigned upon execution of this Confidentiality Statement. The Confidential

Information is intended solely for your own limited use in considering whether to pursue acquisition of

the Property. This is not an agreement to sell the Property or an offer of sales. No agreement shall

be binding upon the Owner of the Property, or any of its associated or affiliated companies, nor shall

any agreement be deemed to exist, at law or equity, until the Owner of the Property enters into a

formal and final binding written agreement regarding acquisition of the Property.

By executing this Confidentiality Agreement you agree that the Confidential Information provided is

confidential, that you will hold and treat it in the strictest confidence, and that you will not disclose or

permit anyone else to disclose the Confidential Information to any person, firm or entity without prior

written authorization of the Owner and the Broker, except that the information may be disclosed to

your partners, employees, legal counsel and lenders or pursuant to a court order. Additionally you

agree to not to disclose your receipt of the Confidential Information, your interest in purchasing the

property and/or the terms or conditions of any offer(s) you make to purchase the Property, or take

any other action that could adversely effect the potential development of the Property. Owner

expressly reserves the right in its sole discretion to reject ay or all proposals or expressions of

interest in the Property and to terminate discussions with any party at any time with or without notice.

Accepted and Agreed [Date] ______________________ Signature _________________________

Name [Print] ___________________________________ Company ________________________

Address ____________________________ City __________ State _________ Zip __________

Phone ________________ Office _________________ Email ____________________________
