FINISHED 60 UNIT TOWNHOME PROJECTleelandteam.com/wp-content/uploads/2017/06/24340... ·...

Lee & Associates-North San Diego County | 1900 Wright Place, Suite 200, Carlsbad, CA 92008 | T: 760.929.9700 F: 760.929.9977 | www.lee-associates.com

24340 WASHINGTON AVENUE - MURRIETA, CA

FINISHED 60 UNIT TOWNHOME PROJECT

AL APUZZO760.448.2442

[email protected] Lic # 01323215

MATT WEAVER760.448.2458


No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice. Any of the foregoing information will need to be separately verified by Buyer.

SUBJECTPROPERTY

• Previously Approved Development Plan can be Fast Tracked• Lots & Streets Graded, Entry Paved, Water, Sewer, Curb & Gutter Installed• 60 - 2 Story Townhomes With Garages • Unit Sizes Between 1,440 and 1,630 Square Feet • 2 Unit Plans in 15 Buildings

SUBMIT ALL OFFERS

Murrieta Valley High SchoolThompson

Middle School

Creekside High School

WASHINGTON AVELEMON ST

JEFFERSON AVE

NIGHTHAWK WAY

2Lee & Associates-North San Diego County | 1900 Wright Place, Suite 200, Carlsbad, CA 92008 | T: 760.929.9700 F: 760.929.9977 | www.lee-associates.com

AL APUZZO760.448.2442






PAGE CONTENT

3 AERIALS

7 LOCATION MAP

8 PROPERTY INFO

9 SITE PLAN

10 FINAL MAP

11 PLAT MAP

12 NEW HOME COMPARABLES

13 DOCUMENT LINKS

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice.

SUBJECTPROPERTY

WASHINGTON AVE

LEM

ON

ST


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FINISHED 60 UNIT TOWNHOME PROJECTA

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WASHINGTON AVELEMON ST

SUBJECTPROPERTY


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ERIA

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Murrieta Valley High School

Murrieta Elementary

School

Creekside High School

SUBJECTPROPERTY

WASHINGTON AVE

ADAMS AVE LEM

ON

ST

NIGHTHAWK W

AY

KALMIA

ST

Murrieta Valley Golf Range

Thompson Middle School


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ERIA

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Murrieta Valley High School

Murrieta MesaHigh School

ThompsonMiddle School


WAS

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VE

JEFF

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TEMECULA

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NIGHTHAWK WAY

FULLERTON RDADAM

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ERIA

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Acacia Ave

Devonshire Ave

Florida Ave

WASHINGTON AVE

ADAMS AVE

LEMON STMurrieta Valley

High School

Murrieta Elementary


Town Square Park

KALMIA STJEFFERSON AVE

SUBJECTPROPERTY


AL APUZZO760.448.2442





FINISHED 60 UNIT TOWNHOME PROJECT LO

CAT

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MA

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MURRIETA

TEMECULA

MENIFEE

PERRIS HEMET

CAMP PENDLETON

CORONA

SANTA ANA

HUNTINGTON BEACH

NEWPORT BEACH

LAGUNA BEACH

LAKE FOREST

MISSION VIEJO

CYPRESS

WILDOMAR

LAKE ELSINORE

TEMECULA

SAN DIEGO COUTNRY ESTATES

78

Lemon St

Hancock Ave

Kalmia St

Murrieta Hot Springs Rd

Adams Ave

Washington AveJefferson Ave

Madison Ave

Ivy St

SUBJECTPROPERTY

SUBJECTPROPERTY

MURRIETA


AL APUZZO760.448.2442





FINISHED 60 UNIT TOWNHOME PROJECTPR

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INFO

Location:

Jurisdiction: City of Murrieta

APN #: 906-070-092 & 093

Acreage: Approximately 4.43 Acres

Topography: Flat

Zoning: MU-3(Multi-Family)

General Plan: MU-3(Residential)

Project Density: 13.0 DUs/Acre

Unit Count: 60 - 2 story townhomes with garages in 15 buildings *Ability to process expedited approvals for rental design consistent with phase one

Unit Sizes: Plan1:30-1,440SquareFeet(2Bed|2Bath|2CarGarage) Plan2:30-1,630SquareFeet(3Bed|2Bath|2CarGarage) Project Status:

Affordable Housing: None Required

Environmental Permits: None Required

Project Amenities: Tot Lot & Pool Area

Improvement Costs: EstimatedbyMooteGroup-$44,897netoftheCFDprocess

The property is located at 24340 Washington Avenue in the City of Murrieta on the east corner of Washington Avenue and Lemon Street.

Thepropertyisinanearlyfinishedcondition.Thelotsandstreetshavebeengraded,entrywaypaved;andwater,sewer,curbs,andguttersareinstalled.Utilitiesarestubbedintheindividuallots.FinalMap31497andCondoPlanhave been recorded and remain valid. The approved Development Plan has expired, but it is our understanding that the city can fast track re-approval, provided the proposed plans remain consistent to the city guidelines. The former developer processed and obtained approvals for the improvement plans for the Project.

An HOA will be required and fees are estimated at $174/month per unit.

H.O.A.:

CFD/Tax Info: Tax rate is 1.2622% | CFD has been formed but not funded

School District: MurrietaValleyUnifiedSchoolDistrict• Murrieta Elementary | API - 857• Thompson Middle School | API - 874• Murrieta Valley High | API - 836

Services: Water/Sewer Murrieta County Water & Sewer Gas Southern California Gas Company Electricity Southern California Edison Fire Murrieta Fire Dept. Police Murrieta Police Department

ASKING PRICE: SUBMIT ALL OFFERS




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Project NameBuilder Name City Open Date

Product Type

Unit Size Min

Unit Size Max Min Price Max Price

Min $ / Sq Ft

Max $ / Sq Ft

Total Units Planned

Total Units Sold

Total Remaining

Sales Rate

Sales Rate (Last 3 Months) Zip Code

Ridge at Cal Oaks (The) D.R. Horton Murrieta 12/6/2014 Attached 1,851 2,292 325,990$ 383,047$ 167.12$ 176.12$ 102 101 1 3.8 2.7 92562Arroyo Vista Lennar Murrieta 9/24/2015 Attached 1,336 1,580 300,990$ 344,990$ 218.35$ 225.29$ 123 111 12 6.7 1.7 92563

Quick CMA Report

Br/Ba Sqft LSqft List Price Sold Price $/Sqft

Total Listings:

Total on Market:

Sold/Exp Ratio:

5

0

0.00

Maximum:

Minimum:

Average:

Median:

3/3.00

2/2.00

3/2.80

3/3.00

1,851

1,198

1,720

1,851

436

436

436

436

$338,990

$234,900

$312,200

$329,990

$333,500

$232,500

$308,475

$325,000

$194.07

$172.87

$180.35

$179.03

PriceSqftBathBrYrBuiltCityAddress Sale Type

Closed

LSqft $/SqftCDOMCOE Date

27464 Viridian ST #1 STDMUR 2009 2 2 1,198 $232,50043612/6107/07/2016 $194.07

40951 Belleray AV STDMUR 2016 3 3 1,851 $319,990112/11210/02/2016 $172.87



40960 Lacroix AV STDMUR 2015 3 3 1,851 $333,50080/8010/02/2016 $180.17

$333,500

$232,500

$308,475

$325,000

112

15

60

61

Maximum:

Minimum:

Average:

Median:

3.00

2.00

2.80

3.00

1,851

1,198

1,720

1,851

436

436

436

436

$194.07

$172.87

$180.35

$179.03

3

2

3

3

Criteria:

Property Type is 'Residential'

Standard Status is 'Closed'

Contract Status Change Date is 05/12/2017 to 05/12/2016

Property Sub Type is 'Townhouse'

Special Listing Conditions is 'Standard'

County Or Parish is 'Riverside'

City is 'Murrieta'

Bedrooms Total is 2 to 3

Close Date is 05/01/2016+

Year Built is 2009+

Residential Quick CMA Page 1 of 1 Printed By Sandicor Sandicor on 5/12/17

NEW HOME SALES COMPARABLES

RESALE COMPARABLES


AL APUZZO760.448.2442





FINISHED 60 UNIT TOWNHOME PROJECTD

OC

UMEN

T LIN

KS CLICK TO VIEW DOCUMENT LINKS

CFD INFORMATION

COST ESTIMATES

DEVELOPMENT STATUS LETTER - MARCH 24, 2017

PHOTOS

PLANNING & APPROVAL

PLANS & MAPS

REPORTS

TAX BILL

TITLE REPORT

WELL INFORMATION

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/CFDInfo.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/CostEstimates.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/SonrisasDevStatusletter.pdf

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/Photos.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/PlanningApprovalDocs.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/PlansMaps.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/Reports.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/TaxBill.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/TitleReport.zip

http://www.lee-associates.com/eLee/sandiego/LeeLandTeam/Sonrisas-24340WashingtonAve/WellInfo.zip


[email protected] Lic#01367183

AL APUZZO760.448.2442

[email protected] Lic#01323215

For More Information, Please Contact:

14Lee & Associates-North San Diego County | 1900 Wright Place, Suite 200, Carlsbad, CA 92008 | T: 760.929.9700 F: 760.929.9977 | www.lee-associates.com 14



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