5860 & 5880 Live Oak Drive | Kelseyville, CA 95451

OFFERING MEMORANDUM

Alex Tannous(707) 413-8233alextannousre@gmail.comLIC# 01927778

Commercial and residential development opportunity currently producing income. 5860 Live Oak Dr is just over 6 acres and is zoned PDC-DR forendless commercial and residential development opportunities. Possible projects include: retirement facility, winery, agricultural use, multifamily,or a hotel. This property also qualifies for a billboard sign based on the county's current signage plan. This parcel includes a single-family homethat is 1558 square feet, four bedrooms, and has one and 1/2 bathrooms. There is also a 1100 square foot detached garage/shop with ¾ a bath anda 192-square foot sound room. Property has public water and septic, however, a county sewer lateral runs across the property.

5880 Live Oak Drive is approximately 2.65 acres and is zoned R2 for medium residential density. The parcel has a manufactured home on apermanent foundation and a mobile home. Both units share a 400sqft garage. Under its current zoning, this parcel may qualify for up to 12 single-family homes, a number of five-unit duplex projects, a family care home, or supportive housing.

Located along Highway 29 less than a mile away from downtown Kelseyville and feature roughly 1000 feet of highway frontage.

Highway 29

EXECUTIVE SUMMARY

AddressAPNPriceCap RateLot SizeStructures

Zoning

5860 and 5880 Live Oak Drive Kelseyville CA 95451008-061-39-00 & 008-061-21$969,0003.3%8.72 Acres (379,843 SF)5860 Live Oak – 1558 sf 4bd/1.5ba Main House, 1100 sf detached garage/shop with ¾ bath, and a 192 sf sound room

5880 Live Oak – 3bd/2ba Manufacture Home on Foundation, 2bd/2ba Mobile Home, and 2 car detached garage

5860 Live Oak (6.07ac) PDC - Planned Development Commercial

5880 Live Oak (2.65ac)R2 – Medium Density Residential

PROPERTY PROFILE

Total Expenses

GROSS SCHEDULED INCOME

ESTIMATED EXPENSES

Real Estate Taxes 1.15% of Purchase Price

Insurance

Water/Sewer

PGE (Tenants Pay)

Garbage (Tenants Pay)

Repairs/Maintenance/Landscaping

$11,144

$2,400$200

$115

($1,444)

NET OPERATING INCOME $2,656

3.29% CAP RATE

FINANCIALS

The enclosed information, while not guaranteed, has been secured from sources we believe to be reliable. Interested parties are responsible for verifying the status of the property and the information herein.

Unit Monthly Rent Annual RentHouse Manufactured Home Mobile Home

TOTAL $4,100 $49,200

$1,800$1,200$1,100

AnnualMonthly

$929

$31,877

$21,600$14,400$13,200

$1,380

$200 $2,400

($17,324)

Located midway between the Pacific Coast and theCentral Valley, Lake County rarely experiencescoastal or valley fog. This translates into lots ofsunshine. Lake County sees, on average,approximately 265 days of clear or partly clear skies,with an approximate annual average of 78% ofpossible sunshine. Lake County has the cleanest airin California as certified by the State’s Air Resource’sBoard and an abundance of spring water. ClearLake is the largest natural freshwater lake inCalifornia, with 63 square miles of surface area, andmore than 100 miles of shoreline. Clear Lake mayhold more fish per acre than any other lake in thecountry. Clear Lake has been coined the “BassCapital of the West” by numerous fishingorganizations and pros, and Bassmaster and othershave rated Clear Lake as Top 10 bass fishing in theUS. Lake County is part of the world’s foremostgeothermal resource areas. Geysers were known asan area of hissing fumaroles and boiling springs inthe late 1840s and by the end of the 19th centuryhad become nationally known for its hot springsresorts and health spas. Today, the Geysers is thelargest complex of geothermal power plants in theworld with 19 units in operation, fueled by morethan 350 steam wells, which generatesapproximately 750 megawatts of clean, renewablebaseload electricity. Lake County is the largestsupplier of premium fresh pears in California. Sincethe first commercial Bartlett orchard was plantedin the late 1880s, buyers have chosen Lake Countypears. Over 30 wineries and 8,700 acres of vineyardsare awaiting your arrival in one of the fastestgrowing winemaking regions in America. Vines andviews are abundant, as are the accolades that LakeCounty wines continue to receive. Recent articlefeatured in the San Francisco Chronicle bets thatLake County will be the next wine country.

“The Next Wine Country”

A GLANCE AT LAKE COUNTY