± 51.06 acres...broker will market all listed properties to all prospective buyers whether or not...

26
BELLEGRAVE AVE BAIN ST PEDLEY RD JURUPA RD FELSPAR ST 58TH ST 15 60 VAN BUREN BLVD 56TH ST ± 51.06 ACRES Van Buren Blvd. and Jurupa Rd. Residential Entitlement Opportunity CITY OF JURUPA VALLEY | RIVERSIDE COUNTY, CA 18881 Von Karman Avenue, Ste 150, Irvine, CA 92612 T (949) 553.2020 www.hoffmanland.com CA BRE #01473762 Southern California Office Broker Contact Zach Foster, CA BRE #01969485 T (949) 705-0910, [email protected] Justin Esayian, CA BRE #01513596 T (949) 705-0921, [email protected] OFFERING MEMORANDUM The Hoffman Company ONTARIO RANCH JURUPA VALLEY FONTANA

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Page 1: ± 51.06 ACRES...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

BELLEGRAVE AVE

BAIN ST

PEDLEY R

D

JURUPA RD

FELSPAR ST

58TH ST

15

60

VAN BUREN BLVD

56TH ST

± 51.06 ACRESVan Buren Blvd. and Jurupa Rd.

Residential Entitlement OpportunityCITY OF JURUPA VALLEY | RIVERSIDE COUNTY, CA

18881 Von Karman Avenue, Ste 150, Irvine, CA 92612

T (949) 553.2020

www.hoffmanland.com

CA BRE #01473762

Southern California Office Broker Contact

Zach Foster, CA BRE #01969485T (949) 705-0910, [email protected]

Justin Esayian, CA BRE #01513596T (949) 705-0921, [email protected]

OFFERING MEMORANDUM

The

Hoffman

Company

ONTARIO RANCH

JURUPA VALLEY

FONTANA

Page 2: ± 51.06 ACRES...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

Disclaimer

The 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 Jurupa Valley, County of Riverside, 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 (“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.

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Property Overview

Aerials, Maps & Photos

Area Overview

Market Overview

1

2

3

4

2-3

4-5

6-7

8-9

Table of Contents

Property Overview

Aerials & Maps

Market Overview

Area Overview

1

2

3

4

4-7

8-13

14-19

20-25

Table of Contents

Page 4: ± 51.06 ACRES...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

1PROPERTY OVERVIEW

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5 51.06 ACRES | JURUPA VALLEY

The Hoffman Company is pleased to announce the exclusive listing of +/- 51.06 acres on the corner of Van Buren Boulevard and Jurupa Road in Jurupa Valley.

• This opportunity will allow a buyer to seek residential entitlement on a large property in the strong Jurupa Valley housing market. This site has been selected as a location for higher density in the City of Jurupa Valley’s newly anticipated General Plan (pending expected approval in approximately 30 days), with a proposed designation of Medium Density Residential. This will allow residential housing up to 5 DU / acre, which allows lot sizes ranging from 5,500 to 20,000 square feet.

• Both new home sale prices and pace in Jurupa Valley are increasing dramatically across the board for all product types. Many projects are up over 10% from opening price and have sales of 5-10 per month. With limited builder owned lots in Jurupa Valley, this already supply-constrained market will be in much need of new inventory when this project is ready to come online.

• Jurupa Valley is experiencing tremendous growth and particularly with the Asian homebuyer. What had been previously rare to the market, sales agents in new home communities are reporting an influx of Asian buyers as Eastvale new home inventory diminishes. Proof of this transition is the recently announced news that Ontario International Airport will service regularly scheduled round-trip flights from China starting in 2018, after a successful trial run this summer.

• The site stretches across 51 acres in the heart of Jurupa Valley. The site will be a hub for commuters, as future homeowners will have great access to the I-15, CA-60 and CA-91 freeways and employment centers in Orange County, Los Angeles and the greater Inland Empire. Furthermore, the property is situated near numerous retail amenities, and in addition, the city has approved a number of new commercial centers on Limonite Avenue, only minutes away from the subject site.

Opportunity Highlights

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6

Property Overview

The

Hoffman

Company

OFFERING MEMORANDUM

1Site DetailLOCATIONThe subject property is generally located easterly of the I-15 Freeway and

southerly of SR-60. Specifically, the property sits along the east side of Van Buren

Blvd, south of Jurupa Rd, west of Pedley Rd, and north of 54th St.

MUNICIPALITYCity of Jurupa Valley, County of Riverside

OWNERSTJ Riverside, Belczak Survivor’s Trust and Georgia Masanovich Revocable Trust

ACREAGE± 51.06 Acres

ASSESSOR’S PARCEL NUMBERS165-050-016, 169-290-008, 169-290-010 and 169-300-002

IMPROVEMENTSSite has no tenants and is currently being used as personal storage for the

ownership.

GENERAL PLAN | ZONING City of Jurupa Valley’s new General Plan is expected to be approved in

approximately 30 days. The subject property is anticipated to be given a

designation of Medium Density Residential, which will allow up to 5 DU / acre,

with lot sizes ranging from 5,500 to 20,000 square feet. A description can be

found in the City’s draft General Plan Update as item LUA-18.

Current Zoning: A mix of Low Density Residential (1/2 acre lot minimum) and

Light Industrial.

ENTITLEMENTThe site is currently unentitled.

COST TO COMPLETENot Available. Buyer to Determine.

SCHOOL DISTRICTJurupa Valley Unified

*See page 24 for detailed information on the schools serving this site.

ELEMENTARY SCHOOL | K-6

Stone Avenue

5111 Stone Ave., Jurupa Valley, CA

Tel: (951) 360-2859

Great School Rating: 4 out of 10

MIDDLE SCHOOL | 7-8

Jurupa

8700 Galena St., Jurupa Valley, CA

Tel: (951) 360-2846

Great School Rating: 5 out of 10

HIGH SCHOOL | 9-12

Patriot

4355 Camino Real, Jurupa Valley, CA

Tel: (951) 361-6500

Great School Rating: 7 out of 10

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7 51.06 ACRES | JURUPA VALLEY

Offering GuidelinesSELLERTJ Riverside, Belczak Survivor’s Trust and Georgia Masanovich Revocable Trust

LETTER OF INTENTSubmit offer in the form of a Letter of Intent that includes all pro-forma

assumptions for revenues, direct construction costs, and cost to complete.

PURCHASE AND SALE AGREEMENTSeller to provide draft Purchase and Sale Agreement to Buyer.

PROPOSED DEAL STRUCTUREAll Cash / Bulk

ASKING PRICESubmit

DUE DILIGENCE PERIOD45 days from full execution of the Letter of Intent.

DEPOSITSThe Initial Deposit of $500,000 shall be made at the Opening of Escrow and

shall remain refundable during the Due Diligence Period. A Second Deposit of

$1,500,000 shall be placed into Escrow prior to expiration of the Due Diligence

Period. The sum of the Initial Deposit and Second Deposit shall equal a Total

Deposit of $2,000,000 upon Buyer’s approval of its Due Diligence, the Total

Deposit shall be released to the Seller and shall be non-refundable except for

Seller default.

Buyer shall make additional quarterly desposits in the amount of $100,000,

applicable to the puchase price and immediately non-refundable to Seller.

OPENING OF ESCROWUpon delivery to Escrow of (a) the mutually executed Purchase and Sale

Agreement and (b) the First Deposit.

CLOSE OF ESCROWThe earlier of a) 10 Days following Buyer’s receipt of entitlements, past appeal

periods, or b) 18 months following Open of Escrow.

BROKER CONTACTZach Foster

CA BRE #01969485

T (949) 705-0910

[email protected]

Justin Esayian

CA BRE #01513596

T (949) 705-0921

[email protected]

Page 8: ± 51.06 ACRES...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

AERIALS& MAPS

2

Page 9: ± 51.06 ACRES...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

9 51.06 ACRES | JURUPA VALLEY

56TH STVAN

BU

REN

BLVD

PEDLEY RD

JURUPA RD

Close Up AerialFE

LSPA

R RD

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10

Aerials & Maps

The

Hoffman

Company

OFFERING MEMORANDUM

2Surrounding and Future Retail

15

MISSION BLVD

JURUPA RDBELLEGRAVE AVE

LIMONITE AVE

VAN BUREN BLVD

PED

LEY

RD

SUBJEC T SITE

VERNOLA MARKETPLACE

Cardelli’s Italian Market

& Deli

DEANZ A COUNTRY PLA Z AJURUPA VALLE Y SPEC TRUMJURUPA SPRINGS

TacoVillage

EAST VALE GATEWAY

FUTURERETAILWineville

Marketplace8 Acres

FUTURERETAIL38,800 SF

Center

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11 51.06 ACRES | JURUPA VALLEY

Easy Freeway Access

15 JURUPA RD

BELLEGRAVE AVE

MISSION BLVD

LIMONITE AVE

60

VAN BUREN BLVD

5.5 Miles

12 Minutes

TO I-15 VIALIMONITE AVE

1.8 Miles

5 Minutes

TO CA-60 VIAVAN BUREN BLVD

SUBJEC T SITE

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12

Aerials & Maps

The

Hoffman

Company

OFFERING MEMORANDUM

2Assessor’s Parcel Map

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13 51.06 ACRES | JURUPA VALLEY

Vicinity Map

SUBJEC T SITE

Recently Sold Out

Actively Selling

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MARKETOVERVIEW

3

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15 51.06 ACRES | JURUPA VALLEY

Jurupa Valley Active Projects

Data as of July 2017 | Source: Zonda’s Meyers Research, Ryness Reports & Hoffman Research

Jurupa ValleyACTIVE, FUTURE AND REMAINING LOTS

JURUPA VALLEY

1

6

34

2

5

1

7

60

15

SUBJEC T SITE

8

ActiveRemaining Lots

449Builder Owned

Remaining Lots

176PROJECTS WITH ACTIVE LOTS

Project Name Builder Open DateTotal Lots

Remaining Lots Sales

Weeks Opened

Weekly Sales Rate

Monthly Sale Rate Last 3 Mos.

1 Coventry @ Turn Leaf WmLyon 7/1/14 161 121 40 162 0.25 8.33

2 Serrano Ranch (7,200 SF) Pulte 3/5/16 206 101 105 75 1.40 10.33

3 Harmony @ Riverbend Lennar 3/25/16 114 49 65 72 0.90 5.67

4 Serenity @ Riverbend Lennar 3/25/16 132 55 77 72 1.07 6.67

5 Tranquility @ Riverbend Lennar 3/25/16 119 40 79 72 1.10 6.00

6 Cantera (9,000 SF) Frontier 6/25/16 106 44 62 59 1.05 6.00

7 Hudson Pointe @ Skypark DR Horton 12/10/16 85 39 46 35 1.31 5.89

8 Harvest Villages III Lennar 6/24/17 93 85 8 7 1.14 -TOTAL 449

BUILDER OWNED LOTS

Investor Total Lots

1 Frontier $9,000,000 176 4,500 Sq Ft

TOTAL 176

New home sales pace is strong in Jurupa Valley, as active projects are currently

selling at rates of 5-10 per month.

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16

Market Overview

The

Hoffman

Company

OFFERING MEMORANDUM

3Jurupa ValleyPRODUCT & PRICE CHANGE (AS OF AUGUST 2017)

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 3,426 $553,990 $589,990 $36,000 6.5% 7,200

2 3,652 $557,990 $604,888 $46,898 8.4% 7,200

3 3,803 $572,990 $622,990 $50,000 8.7% 7,200

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,550 $480,990 $521,990 $41,000 8.5% 7,200

2 2,795 $478,990 $517,990 $39,000 8.1% 7,200

3 2,989 $493,990 $527,990 $34,000 6.9% 7,200

4 3,339 $510,990 $533,990 $23,000 4.5% 7,200

5 3,720 $536,990 $559,990 $23,000 4.3% 7,200

6 3,988 $554,990 $573,990 $19,000 3.4% 7,200

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,827 $451,990 $457,290 $5,300 1.2% 4,000

2 2,017 $464,190 $480,290 $16,100 3.5% 4,000

3 2,277 $473,990 $505,390 $31,400 6.6% 4,000

4 2,409 $479,990 $515,490 $35,500 7.4% 4,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,946 $477,990 $492,890 $14,900 3.1% 5,000

2 2,809 $518,490 $573,090 $54,600 10.5% 5,000

3 3,105 $532,990 $588,590 $55,600 10.4% 5,000

4 3,672 $567,990 $624,690 $56,700 10.0% 5,000

WILLIAM LYON

THE COVENTRY

SERRANO RANCH

PULTE

HARMONY @ RIVERBEND

LENNAR

SERENITY @ RIVERBEND

LENNAR

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 3,426 $553,990 $589,990 $36,000 6.5% 7,200

2 3,652 $557,990 $604,888 $46,898 8.4% 7,200

3 3,803 $572,990 $622,990 $50,000 8.7% 7,200

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,550 $480,990 $521,990 $41,000 8.5% 7,200

2 2,795 $478,990 $517,990 $39,000 8.1% 7,200

3 2,989 $493,990 $527,990 $34,000 6.9% 7,200

4 3,339 $510,990 $533,990 $23,000 4.5% 7,200

5 3,720 $536,990 $559,990 $23,000 4.3% 7,200

6 3,988 $554,990 $573,990 $19,000 3.4% 7,200

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,827 $451,990 $457,290 $5,300 1.2% 4,000

2 2,017 $464,190 $480,290 $16,100 3.5% 4,000

3 2,277 $473,990 $505,390 $31,400 6.6% 4,000

4 2,409 $479,990 $515,490 $35,500 7.4% 4,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,946 $477,990 $492,890 $14,900 3.1% 5,000

2 2,809 $518,490 $573,090 $54,600 10.5% 5,000

3 3,105 $532,990 $588,590 $55,600 10.4% 5,000

4 3,672 $567,990 $624,690 $56,700 10.0% 5,000

WILLIAM LYON

THE COVENTRY

SERRANO RANCH

PULTE

HARMONY @ RIVERBEND

LENNAR

SERENITY @ RIVERBEND

LENNAR

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 3,426 $553,990 $589,990 $36,000 6.5% 7,200

2 3,652 $557,990 $604,888 $46,898 8.4% 7,200

3 3,803 $572,990 $622,990 $50,000 8.7% 7,200

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,550 $480,990 $521,990 $41,000 8.5% 7,200

2 2,795 $478,990 $517,990 $39,000 8.1% 7,200

3 2,989 $493,990 $527,990 $34,000 6.9% 7,200

4 3,339 $510,990 $533,990 $23,000 4.5% 7,200

5 3,720 $536,990 $559,990 $23,000 4.3% 7,200

6 3,988 $554,990 $573,990 $19,000 3.4% 7,200

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,827 $451,990 $457,290 $5,300 1.2% 4,000

2 2,017 $464,190 $480,290 $16,100 3.5% 4,000

3 2,277 $473,990 $505,390 $31,400 6.6% 4,000

4 2,409 $479,990 $515,490 $35,500 7.4% 4,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,946 $477,990 $492,890 $14,900 3.1% 5,000

2 2,809 $518,490 $573,090 $54,600 10.5% 5,000

3 3,105 $532,990 $588,590 $55,600 10.4% 5,000

4 3,672 $567,990 $624,690 $56,700 10.0% 5,000

WILLIAM LYON

THE COVENTRY

SERRANO RANCH

PULTE

HARMONY @ RIVERBEND

LENNAR

SERENITY @ RIVERBEND

LENNAR

Current new home projects in Jurupa Valley are experiencing great success. Pricing

continues to increase, with homes selling well above opening prices and many up

over 10%.

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17 51.06 ACRES | JURUPA VALLEY

Jurupa ValleyPRODUCT & PRICE CHANGE (AS OF AUGUST 2017)

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,033 $500,490 $517,290 $16,800 3.4% 6,000

2 2,284 $523,990 $550,890 $26,900 5.1% 6,000

3 3,404 $562,290 $622,490 $60,200 10.7% 6,000

4 3,823 $598,990 $659,490 $60,500 10.1% 6,000

5 4,122 $632,490 $699,290 $66,800 10.6% 6,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,520 $446,240 $475,990 $29,750 6.7% 7,000

2 2,754 $458,040 $485,490 $27,450 6.0% 7,000

3 2,959 $476,040 $507,940 $31,900 6.7% 7,000

4 3,418 $506,990 $525,000 $18,010 3.6% 7,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,898 n/a $406,490 n/a n/a 5,500

2 2,401 n/a $416,615 n/a n/a 5,500

3 2,537 $405,990 $428,490 $22,500 5.5% 5,500

4 2,844 $414,990 $454,990 $40,000 9.6% 5,500

5 2,844 $414,990 $446,490 $31,500 7.6% 5,500

HUDSON POINTE @ SKYPARK

DR HORTON

FRONTIER CANTERA

LENNARTRANQUILITY @

RIVERBEND

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,033 $500,490 $517,290 $16,800 3.4% 6,000

2 2,284 $523,990 $550,890 $26,900 5.1% 6,000

3 3,404 $562,290 $622,490 $60,200 10.7% 6,000

4 3,823 $598,990 $659,490 $60,500 10.1% 6,000

5 4,122 $632,490 $699,290 $66,800 10.6% 6,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,520 $446,240 $475,990 $29,750 6.7% 7,000

2 2,754 $458,040 $485,490 $27,450 6.0% 7,000

3 2,959 $476,040 $507,940 $31,900 6.7% 7,000

4 3,418 $506,990 $525,000 $18,010 3.6% 7,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,898 n/a $406,490 n/a n/a 5,500

2 2,401 n/a $416,615 n/a n/a 5,500

3 2,537 $405,990 $428,490 $22,500 5.5% 5,500

4 2,844 $414,990 $454,990 $40,000 9.6% 5,500

5 2,844 $414,990 $446,490 $31,500 7.6% 5,500

HUDSON POINTE @ SKYPARK

DR HORTON

FRONTIER CANTERA

LENNARTRANQUILITY @

RIVERBEND

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,033 $500,490 $517,290 $16,800 3.4% 6,000

2 2,284 $523,990 $550,890 $26,900 5.1% 6,000

3 3,404 $562,290 $622,490 $60,200 10.7% 6,000

4 3,823 $598,990 $659,490 $60,500 10.1% 6,000

5 4,122 $632,490 $699,290 $66,800 10.6% 6,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,520 $446,240 $475,990 $29,750 6.7% 7,000

2 2,754 $458,040 $485,490 $27,450 6.0% 7,000

3 2,959 $476,040 $507,940 $31,900 6.7% 7,000

4 3,418 $506,990 $525,000 $18,010 3.6% 7,000

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 1,898 n/a $406,490 n/a n/a 5,500

2 2,401 n/a $416,615 n/a n/a 5,500

3 2,537 $405,990 $428,490 $22,500 5.5% 5,500

4 2,844 $414,990 $454,990 $40,000 9.6% 5,500

5 2,844 $414,990 $446,490 $31,500 7.6% 5,500

HUDSON POINTE @ SKYPARK

DR HORTON

FRONTIER CANTERA

LENNARTRANQUILITY @

RIVERBEND

PLAN SQFT OPENING PRICE CURRENT PRICE PRICE CHANGE % CHANGEMINIMUM LOT SIZE

1 2,820 $551,990 $556,990 $5,000 0.9% 7,500

2 2,821 $556,490 $556,990 $500 0.1% 7,500

3 3,404 $566,790 $566,790 $0 0.0% 7,500

4 3,823 $603,290 $598,390 -$4,900 -0.8% 7,500

5 4,122 $638,390 $645,190 $6,800 1.1% 7,500

LENNARHARVEST

VILLAGES III

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18

Market Overview

The

Hoffman

Company

OFFERING MEMORANDUM

3Actively Selling Projects in Jurupa Valley

Serenity @ Riverbend | Jurupa ValleyProduct Type: DetachedPrice Range: $492,890 - $624,690

Minimum Lot Size: 5,000 SFHouse Size: 1,946 - 3,672 SF

Base Tax Rate: 1.95%HOA: n/a

OPENED MAR 2016

Harmony @ Riverbend | Jurupa ValleyProduct Type: DetachedPrice Range: $457,290 - $515,490

Minimum Lot Size: 4,000 SFHouse Size: 1,827 - 2,409 SF

Base Tax Rate: 1.95%HOA: n/a

The Coventry @ Turn Leaf | Jurupa ValleyProduct Type: DetachedPrice Range: $589,990 - $622,990

Minimum Lot Size: 11,000 SFHouse Size: 3,426 - 3,803 SF

Base Tax Rate: 1.95%HOA: n/a

1

3

2

4

Serrano Ranch | Jurupa ValleyProduct Type: DetachedPrice Range: $517,990 - $559,990

Minimum Lot Size: 7,200House Size: 2,550 - 3,988 SF

Base Tax Rate: 1.95%HOA: n/a

Tranquility @ Riverbend | Jurupa Valley Product Type: Detached Price Range: $517,290 - $699,290

Minimum Lot Size: 6,000 SFHouse Size: 2,033 - 4,122 SF

Base Tax Rate: 1.95%HOA: n/a

OPENED MAR 2016

OPENED MAR 2016

OPENED JUL 2014

5

Data as of AUG 2017 | Source: Meyers Research & Builder Website

OPENED MAR 2016

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19 51.06 ACRES | JURUPA VALLEY

Actively Selling Projects in Jurupa Valley

Data as of July 2017 | Source: Meyers Research & Builder Website

Hudson Pointe @ Skypark | Jurupa ValleyProduct Type: Detached Price Range: $406,490 - $446,490

Minimum Lot Size: 7,200House Size: 1,898 - 2,844 SF

Base Tax Rate: 1.95%HOA: n/a

OPENED DEC 20167

Harvest Villages III | Jurupa Valley Product Type: Detached Price Range: $556,990 - $645,190

Minimum Lot Size: 7,200House Size: 2,820 - 4,122 SF

Base Tax Rate: 1.9%HOA: n/a

OPENED JUN 20178

Cantera | Jurupa Valley Product Type: Detached Price Range: $475,990 - $525,000

Minimum Lot Size: 9,000 SFHouse Size: 2,520 - 3,418 SF

Base Tax Rate: 1.95%HOA: n/a

6 OPENED JUN 2016

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AREAOVERVIEW

4

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21 51.06 ACRES | JURUPA VALLEY

City Info & Demographics

CaliforniaState

County

Mayor

Incorporated

Website

Historical Annual Growth

Forecasted Annual Growth

0.4%

0.5%

California

Riverside

Brad Hancock

July 1, 2011

www.jurupavalley.org

Jurupa Valley

Weather

Total Population

Source: wikipedia.org Source: wikipedia.org and weather.com

Source: Zonda Source: Zonda

Source: Zonda; US Census; Nielsen; Meyers Research LLC

76,115

Total Population

No. of Households

Median Household Income

Homeownership Rate

Median Age

January Average

July Average

Precipitation

77,021

19,693

$58,453

68.7%

31.4

High 70º, Low 47º

High 83º, Low 63º

High Feb 3.5”, Low Aug 0.0”

View of City of Jurupa Valley

Jurupa Valley

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22

Area Overview

The

Hoffman

Company

OFFERING MEMORANDUM

4Jurupa Valley Jurupa Valley Overview

Jurupa Hills Country ClubJurupa Hills is family owned and has been operating Jurupa

Hills since November, 2008. The country club includes an 18-

hole golf course along with golf lessons, practice facility, and

restaurant and with a full bar. Special events can be held here

including tournaments, weddings, birthday parties, business

meetings, etc.

www.jurupahills.net

The Cove WaterparkThe Cove is a new state-of the-art aquatic complex in

Riverside which offers a variety of water-based activities for

kids and adults of all ages. The Cove offers 6 progressive

learn-to-swim classes. Classes are designed to develop the

students’ swimming ability while teaching water safety skills.

Their instructors provide a positive learning experience for

swimmers of all ages and abilities.

www.covewaterpark.org

Rancho Jurupa Regional Sports ParkThe Rancho Jurupa Regional Sports Park is home to 32 acres

of beautiful, lush, natural and synthetic turf fields. Comprised

of four large marked and lighted synthetic turf fields, two

large natural turf fields as well as nine smaller natural turf

fields, the park is available by reservation for many outdoor

activities. Nestled between the synthetic and natural fields is

a landscaped plaza with picnic shelters, restrooms, a snack bar

and two playgrounds.

www.rivcoparks.org

Source: http://en.wikipedia.org/wiki/Jurupa_Valley,_California

Jurupa Valley is a city in Riverside County, California. On March 8, 2011, voters approved a ballot measure, designated as Measure A, to

incorporate the area into its own city; as a result, the area has been an incorporated city since July 1, 2011.

The city of Jurupa Valley covers approximately 43.5 square miles (113 km2), and has an estimated population of 94,235. It is north and

west of the Santa Ana River, south of the Riverside-San Bernardino County line, and east of Interstate 15. It includes the neighborhoods

of Mira Loma, Glen Avon, Sky Country, Indian Hills, Pedley, Rubidoux, Belltown, Jurupa, Jurupa Hills, and Sunnyslope. Residents of the

area had previously voted on incorporation in 1992; however, voters rejected it as well as a competing ballot measure that would have

incorporated Mira Loma.

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23 51.06 ACRES | JURUPA VALLEY

Area Attractions Map

COLTON

RIVERSIDE

FONTANA

JURUPA VALLEY

ONTARIO

MONTCLAIR

EASTVALE

CHINO

CHINOHILLS

NORCO

UPLAND

CORONA

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 Resort & Spa

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

Silver Lakes Sports Complex

Dos Lagos Golf Course

Champions Club at The Retreat

Points of Interest

18

CHINO HILLSSTATE PARK

10

10

15

10

15

15

215

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

3

16

PRADO VIEWREGIONAL PARK

17

7

20

5

D OW N T OW N

11 10

12

8

14

15

MT RUBIDOUX

1913

21

22

23

9

6

1

2

WEST TO

OR

AN

GE/LA

COU

NTIES

EAST TO

COA

CHELLA

VA

LLEY

S O U T H T O T E M E C U L A

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24

Area Overview

The

Hoffman

Company

OFFERING MEMORANDUM

4

Stone Avenue Elementary

Jurupa Middle School

Patriot High School

JURUPA RD

MISSION BLVD

VAN BU

REN B

LVD

CAMIN

O REAL

PED

LEY

RD

Stone AvenueELEMENTARY SCHOOL | K-6

5111 Stone Ave

Jurupa Valley, CA

Tel: (951) 360-2859

Jurupa Unified School District

JurupaMIDDLE SCHOOL | 7-8

8700 Galena St

Jurupa Valley, CA

Tel: (951) 360-2846

Jurupa Unified School District

PatriotHIGH SCHOOL | 9-12

4355 Camino Real

Jurupa Valley, CA

Tel: (951) 361-6500

Jurupa Unified School District

1

2

3

GreatSchoolsRating

4out of 10

GreatSchoolsRating

5out of 10

GreatSchoolsRating

7out of 10

SUBJEC T SITE

Area Schools Exhibit

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25 51.06 ACRES | JURUPA VALLEY

Notes

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Southern California Office

18881 Von Karman Avenue, Suite 150

Irvine, California 92612

T 949.553.2020 | F 949.553.8449

Coachella Valley Office

777 E Tahquitz Way, Suite 200

Palm Springs, California 92262

T 760.969.7357 | F 949.553.8449

Northern California Office

2121 North California Blvd., Suite 290

Walnut Creek, California 94596

T 925.478.8429 F 949.553.8449

w w w . h o f f m a n l a n d . c o m

Nevada Office

9205 W Russell Rd, Suite 235

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