40 acres single Family residenTial land
exclusive OFFERING memorandum
40 Acres SINGLE FAMILY residential LAND Tawney ridge ln & amethyst rd, victorville, ca
Corporate Office
12180 Ridgecrest Road, Suite 232 Victorville, CA 92395 PH. 760.983.2383 FAX 760.983.2433 WWW.KURSCHGROUP.COM Corporate BRE: 01896143
Broker Contact
Jeremy Schmidt Executive Vice President 760.983.2593 [email protected] BRE #01310579
The information contained in the following marketing document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kursch Group and should not be made available to any other person or entity without the written consent of Kursch Group. This marketing brochure has been prepared to provide summary, unverified information to prospective buyers and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kursch Group has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, or the compliance with State and Federal Regulations. The information contained in this marketing document has been obtained from sources we believe to be reliable; however, Kursch Group has not verified and will not verify, any of the information contained herein, nor has Kursch Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein and have satisfied themselves to anything that may affect the site prior to consummating a transaction.
TABLE OF CONTENTS 01 DEVELOPMENT SUMMARY
NWC TAWNEY RIDGE LN & AMETHYST RD VICTORVILLE, CA
SITE SUMMARY TAX MAP SITE PHOTOS LOCAL MAP SEWER MAP WATER MAP ZONING MAP DEMOGRAPHICS
02 CITY OVERVIEW SCHOOLS SUMMARY CITY OF VICTORVILLE
03 MARKET ANALYSIS VICTORVILLE HOME SALES
04 REGION OVERVIEW
SOUTHERN CALIFORNIA LOGISTICS CENTRE INFRASTRUCTURE PROJECTS
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
3
site SUMMARY
PROPERTY OVERVIEW
Assessors parcel numbers
The subject property provides an opportunity
0455-053-58
to deliver new homes in an active path of
0455-053-59
progress within the City of Victorville.
0455-053-60 0455-053-61
LOCATION The subject property is located north of
Condition of the site
Tawney Ridge Lane and west of Amethyst
The site is unimproved.
Road in the City of Victorville, CA.
Exit
Interstate 15 northbound at Mojave Dr. Turn
Zoning
left and head west approximately 2.75 miles.
R1-TB4 (Low Density Residential 5 du/ac)
Turn right on Amethyst Rd and go north about a half mile. The subject site is on the
UTILITIES
left at the northwest corner of Tawney Ridge
Electric
Ln & Amethyst Rd. Municipality City of Victorville (within City Limits) County of San Bernardino
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
Gas
Water/Sewer
Southern California Edison Southwest Gas Company City of Victorville
ASKING PRICE $500,000
KURSCH GROUP Inland empire north www.kurschgroup.com
4
TAX MAP
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
5
property photo
Aerial views north show the topography of all four parcels, located at the northwest corner of Amethyst Rd & Tawney Ridge Ln.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
6
LOCAL MAP
The Site is surrounded by established Residential Developments and Proposed Developments for future growth. West of the site are two elementary schools: Gus FranKlin Jr Elementary and West Creek Elementary. Hwy 395 is about 2 miles west of this property, providing easy access to SCLA (Southern California Logistics Airport), and the new Super Walmart anchored Shopping Center at the intersection of Hwy 395 & Palmdale Rd. Interstate 15 is an easy 3 miles east of the site via Mojave Dr.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
7
sewer map
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
8
water map
Existing 24-inch waterline in Amethyst Road.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
9
zoning map Zoned R-1 Low Density Residential (5 du/ac)
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
10
1, 3, 5 Miles radius demographics
Population 2016 1 Mile 7,770 3 Miles 56,556 5 Miles 145,202
2021 8,370 59,526 152,407
Households 2016 1 Mile 2,023 3 Miles 14,133 5 Miles 38,761
2021 2,158 14,808 40,368
Median Age 2016 1 Mile 28.0 3 Miles 29.3 5 Miles 29.2
2021 28.2 29.6 29.8
Average HH Income 1 Mile 3 Miles 5 Miles
2021 $78,480 $64,739 $65,136
2016 $71,889 $60,179 $60,671
Source: stdb.com ESRI forecasts for 2016 and 2021
The High Desert Market is located 90 miles northeast of Los Angeles and encompasses the cities of Adelanto, Apple Valley, Barstow, Hesperia, Victorville and surrounding unincorporated areas of San Bernardino County. The regional population exceeds 442,000, nearly doubling from census data of 2000 to 2010. In fact, the city of Victorville was ranked the 6th fastest growing city in the United States for 2006! Interstate 15 bisects the region and Highway 395, Highway 18, Highway 138, Route 66 and Highway 58 all converge here. BNSF Railway runs throughout most of the high desert cities, hauling massive volumes of imported goods from the Ports of LA and Long Beach to the rest of the country.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
11
schools SUMMARY victor valley union High school district
The property is served by the Victor Valley Union High School District (VVUHSD) which covers an area of approximately 536 Square Miles. VVUHSD serves nearly 10,000 middle school and high school students. It is comprised of five (5) high schools, one (1) continuation high school, and two (2) middle schools.
school name grades enrollment Adelanto High School Cobalt Institute of Math and Science Goodwill High School Imogene Garner Hook Junior High School Lakeview Leadership Academy Silverado High School University Preparatory School Victor Valley High School
9-12 7-12 8-12 7-8 7-8 9-12 7-12 9-12
VICTOR elementary school district The property is served by the Victor Elementary School District (VESD) which serves nearly 9,000 elementary school and middle school students. VESD is comprised of eleven (11) elementary schools and three (3) middle schools.
1,748 864 206 808 796 2,213 1,115 1,892
Source: VVUHSD.org and GreatSchools.org
school name Grades enrollment Brentwood Elementary School Challenger School of Sports & Fitness Del Ray Elementary School Discovery School of the Arts Endeavour School of Exploration Galileo Academy 101 Green Tree East Elementary School Irwin Academy Liberty Elementary School Lomitas Elementary School Mojave Vista Elementary School Mountain View Montessori Charter School Park View Elementary School Puesta Del Sol Elementary School Sixth Street Prep School Village Elementary School West Palms Conservatory School
K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
896 1,005 634 932 733 459 686 777 836 791 976 177 799 593 251 894 730
Source: AESD.net and GreatSchools.org
KURSCH GROUP Inland empire north www.kurschgroup.com
12
city overview
victorville
County: San Bernardino total Area: ±73.74 sQUARE mILES incorporatED: September 21, 1962 mayor: gloria garcia WEBSITE: www.victorvilleca.gov
Year 1990 2000 2010 2016 2021
140,000
CLIMATE
2016 POPULATION
120,000
Victorville is in the High Desert region of Southern California where humidity is low and sunshine is plentiful. AVG JANUARY LOW TEMP: aVG jULY hIGH tEMP: AVG ANNUAL rAIN FALL: ELEVATION:
Population Growth Rate 40,674 64,029 57.40% 115,903 81.00% 124729 7.61% 131219 5.20%
31 F 100 F 6.18 in. 2,875 ft.
Source: usclimatedata.com/climate/victorville/california/unitedstates/usca1197 victorvilleca.gov/Site/AboutVictorville.aspx?id=66
100,000
124,729
average annual growth (1990-2016): 5.62% forecasted annual growth (2016-2021): 1.02% 131219
124729 115,903
80,000 64,029 60,000 40,000
40,674
20,000 57.40%
0 1990
81.00%
2000
2010 Population
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
7.61% 2016
5.20% 2021
Growth Rate
Source: en.wikipedia.org/wiki/Adelanto,_California KURSCH GROUP Inland empire north www.kurschgroup.com
13
vICTORVILLE home Resales
Number of Homes For Sale vs. Sold vs. Pended (Mar. 2016 - May. 2017) Number of Homes ForPrev Sale vs. Sold vs. Pended (Mar. 2016 - May.Month 2017)1 Yr Ago Curnt vs. Month Curnt vs. Same
Curnt17 vs. PrevApr. Month 17 May. May. 17 269 Apr. 17 269 124 124 168 168 Date 3/16 Date 3/16 319 For Sale 319 For Sale 197 New Listing 197 New Listing 132 Sold 132 Sold 147 Pended 147 Pended Months of Inventory (Closed Months of Inventory (Closed Months of Inventory (Pended Months of Inventory (Pended 41.4 Absorption Rate (Closed 41.4 Absorption Rate (Closed 46.1 Absorption 46.1 Absorption Rate Rate (Pended (Pended 231 Avg. 231 Avg. Active Active Price Price 188 Avg. Sold Price 188 Avg. Sold Price 104 Avg. 104 Avg. Sq. Sq. Ft. Ft. Price Price (Sold) (Sold) Sold/List Sold/List Diff. Diff. % % Sold/Orig LP Diff. % Sold/Orig LP Diff. % Days Days on on Market Market Avg CDOM 190 Median
For Sale For Sale Sold Sold Pended Pended
236 236 142 142 149 149
2.4 2.4 2.2 2.2
98 98 97 97 52 52 69
% Change % Change 14% 14% -12.7% -12.7% 12.8% 12.8% 4/16 5/16 4/16 5/16 294 283 294 283 187 186 187 186 132 152 132 152 168 166 168 166 2.2 2.2 1.8 1.8 44.9 53.7 44.9 53.7 57.1 58.7 57.1 58.7 242 242 242 242 208 203 208 203 109 113 109 113 98 98 97 97 51 51 64 205 195
Curnt17 vs. Same Month May. May. 16 1 Yr Ago % Change May. 17 269 May. 16 283 -4.9% % Change 269 283 -4.9% 124 152 -18.4% 124 152 -18.4% 168 166 1.2% 168 166 1.2% 6/16 7/16 8/16 9/16 6/16 7/16 8/16 9/16 282 280 304 290 282 280 304 290 190 178 185 157 190 178 185 157 153 148 138 144 153 148 138 144 158 139 128 129 158 139 128 129 1.9 1.8 1.9 2.2 2 1.9 1.8 1.9 2.2 2 1.7 1.8 2 2.4 2.2 1.7 1.8 2 2.4 2.2 54.3 52.9 45.4 49.7 54.3 52.9 45.4 49.7 56 42.1 44.5 56 49.6 49.6 42.1 44.5 243 236 232 244 243 236 232 244 223 220 211 214 223 220 211 214 111 114 113 113 111 114 113 113 99 99 99 99 99 99 99 99 99 99 98 99 98 98 99 98 99 98 98 99 50 39 39 35 46 50 39 39 35 46 60 46 50 42 54 218 215 213 220
Curnt vs. Same Qtr 1 Yr Ago Curnt Same Mar. Qtr 116 Yrto Ago% Change Mar. vs. 17 to % Change Mar. 17 to 269 Mar. 16 to 283 -4.9% 269 283 -4.9% 390 416 -6.2% 390 416 -6.2% 466 481 -3.1% 466 481 -3.1% 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 292 250 227 222 218 222 236 269 292 250 227 222 218 222 236 269 153 105 79 134 150 189 193 193 153 105 79 134 150 189 193 193 128 121 115 105 88 124 142 124 128 121 115 105 88 124 142 124 122 120 88 101 126 149 149 168 122 120 88 101 126 149 149 168 2.3 2.1 2 2.1 2.5 1.8 1.7 2.2 2.3 2.1 2 2.1 2.5 1.8 1.7 2.2 2.4 2.1 2.6 2.2 1.7 1.5 1.6 1.6 2.4 2.1 2.6 2.2 1.7 1.5 1.6 1.6 43.8 48.4 50.7 47.3 40.4 55.9 60.2 46.1 43.8 48.4 50.7 47.3 40.4 55.9 60.2 46.1 41.8 48 45.5 57.8 67.1 63.1 62.5 41.8 48 38.8 38.8 45.5 57.8 67.1 63.1 62.5 242 240 241 273 274 278 283 281 242 240 241 273 274 278 283 281 217 216 215 226 227 223 229 233 217 216 215 226 227 223 229 233 116 115 114 117 115 119 121 121 116 115 114 117 115 119 121 121 99 99 99 99 98 98 99 99 99 99 99 99 98 98 99 99 98 99 98 98 97 97 98 99 98 99 98 98 97 97 98 99 46 49 41 48 50 45 42 37 46 49 41 48 50 45 42 37 53 51 44 52 62 49 43 45 217 210 220 220 222 227 223 235
As of June 1, 2017 in the City of Victorville there were 269 listing Actively For Sale. 124 properties Sold in May 2017.
Average Price per SQFT (Sold) (Mar. 2016 - May. 2017) Curnt vs. Prev Month Apr. 17 May. 17 121
Avg. Sq. Ft. Price (Sold) (Sold) Price
Date Date For Sale Sale For New Listing Listing New
% Change 121 0%
3/16 3/16 319 319
4/16 4/16 294 294
197 197 132 132
Sold Sold Pended Pended
Months of Inventory (Closed Months of Inventory (Closed Sales) of Inventory (Pended Months Sales) Months of Inventory (Pended Sales) Absorption Rate (Closed Sales) Absorption Rate (Closed Sales) % Rate (Pended Absorption Sales) % Rate (Pended Absorption Sales) % Avg. Active Price Sales) % Price Avg. Active Avg. Sold Price Avg. Sold Price Avg. Sq. Ft. Price (Sold) Avg. Sq. Ft. Price (Sold) Sold/List Diff. % Sold/List Diff. % Sold/Orig LP Diff. % Sold/Orig LP Diff. % Days on Market Days on Market Avg CDOM Avg CDOM Median
Median
147 147
41.4 41.4 46.1 46.1 231 231 188 188 104 104
190 190
5/16 5/16 283 283
187 187 132 132
2.4 2.4 2.2 2.2
168 168
44.9 44.9 57.1 57.1 242 242 208 208 109 109
98 98 97 97 52 52 69 69 205 205
Curnt vs. Same Month 1 Yr Ago May. 17 May. 16 % Change 121 113 7.1%
6/16 6/16 282 282
186 186 152 152
2.2 2.2 1.8 1.8
166 166
53.7 53.7 58.7 58.7 242 242 203 203 113 113
98 98 97 97 51 51 64 64 195 195
7/16 7/16 280 280
190 190 153 153
1.9 1.9 1.7 1.7
158 158
54.3 54.3 243 243 223 223 111 111
99 99 98 98 50 50 60 60 218 218
8/16 8/16 304 304
178 178 148 148
1.8 1.8 1.8 1.8
139 139
52.9 52.9 56 49.6 56 49.6 236 236 220 220 114 114 99 99 99 99 39 39 46 46 215
215
185 185 138 138
1.9 1.9 2 2
128 128
45.4 45.4 42.1 42.1 232 232 211 211 113 113
99 99 98 98 39 39 50 50 213 213
Curnt vs. Same Qtr 1 Yr Ago Mar. 17 to Mar. 16 to % Change 120.36 108.88 10.5%
9/16 9/16 290 290
10/16 10/16 292 292
157 157 144 144
2.2 2.2 2.4 2.4
129 129
49.7 49.7 44.5 44.5 244 244 214 214 113 113
11/16 11/16 250 250
153 153 128 128
2 2 2.2 2.2
99 99 98 98 35 35 42 42 220 220
122 122
43.8 43.8 41.8 41.8 242 242 217 217 116 116
99 99 99 99 46 46 54 54 217 217
12/16 12/16 227 227
105 105 121 121
2.3 2.3 2.4 2.4
120 120
48.4 48.4 240 240 216 216 115 115
99 99 98 98 46 46 53 53 210 210
115 115 2.1 2.1 2.1 2.1
50.7 50.7 48 38.8 48 38.8 241 241 215 215 114 114 99 99 99 99 49 49 51 51 220
220
1/17 1/17 222 222
2/17 2/17 218 218
79 134 134 79 105 105
88 101 88 101 2 2 2.6 2.6 47.3 47.3 45.5 45.5 273 273 226 226 117 117 99 99 98 98 41 41 44 44 220
220
150 150
2.1 2.1 2.2 2.2
126 126
40.4 40.4 57.8 57.8 274 274 227 227 115 115
99 99 98 98 48 48 52 52 222 222
3/17 3/17 222 222
189 189 88 124 124 88 149 149
2.5 2.5 1.7 1.7
55.9 55.9 67.1 67.1 278 278 223 223 119 119
98 98 97 97 50 50 62 62 227 227
4/17 4/17 236 236
5/17 5/17 269 269
193 193 142 142
1.8 1.8 1.5 1.5
149 149
60.2 60.2 63.1 63.1 283 283 229 229 121 121
98 98 97 97 45 45 49 49 223 223
The Average Price per Sq. Ft. Sold in May 2017 was $121, up 7.1% in the same month of 2016.
193 193 124 124
1.7 1.7 1.6 1.6
168 168
46.1 46.1 62.5 62.5 281 281 233 233 121 121
99 99 98 98 42 42 43 43 235 235
2.2 2.2 1.6 1.6
99 99 99 99 37 37 45 45
Avg Prices & Median Price (Mar. 2016 - May. 2017)
Median Avg. Active Price Avg. Sold Price
Curnt vs. Prev Month Apr. 17 May. 17 235 281
233
Date For Sale New Listing Sold Pended Months of Inventory (Closed Months of Inventory (Pended Absorption Rate (Closed Absorption Rate (Pended Avg. Active Price Avg. Sold Price Avg. Sq. Ft. Price (Sold) Sold/List Diff. % Sold/Orig LP Diff. % Days on Market Avg CDOM Median
% Change 223 5.4% 283 0.7%
Curnt vs. Same Month 1 Yr Ago May. 17 May. 16 % Change 235 195 20.5% 281 242 16.1%
229 1.7% 3/16 319 197 132 147 2.4 2.2 41.4 46.1 231 188 104
5/16 283 186 152 166 2.2 1.8
44.9 57.1 242 208 109 98 97 52 69
190
233
4/16 294 187 132 168
1.9 1.7 53.7 58.7 242 203 113
98 97 51 64 205
6/16 282 190 153 158 1.8 1.8 54.3 243 223 111 99 98 50 60
195
218
52.9 56 49.6 236 220 114 99 99 39 46 215
8/16 304 185 138 128 1.9 2
2.2 2.4 45.4 42.1 232 211 113
99 98 39 50
10/16 292 153 128 122 2 2.2
49.7 44.5 244 214 113 99 98 35 42
213
228
9/16 290 157 144 129
2.3 2.4
99 99 46 54 220
217
12/16 227
2.1 2.1 48.4 48 240 216 115
99 98 46 53
99 99 49 51 210
The Average Active Asking Price in May 2017 was $281,000, up 16.1% in the same month of 2016.
200 14%
11/16 250 105 121 120
43.8 41.8 242 217 116
The Average Sold Price in May 2017 was $233,000, up 14.8% in the same month of 2016.
Source: VVAR.com
Curnt vs. Same Qtr 1 Yr Ago Mar. 17 to Mar. 16 to % Change 228 198 15.2% 281 238 18.1%
203 14.8% 7/16 280 178 148 139
Home reSales
1/17 222 79 134 115 105 88 101 2 2.6 50.7 47.3 38.8 45.5 241 273 215 226 114 117 99 98 41 44 220 220
2/17 218 150
3/17 4/17 5/17 222 236 269 189 193 193 88 124 142 124 126 149 149 168 2.1 2.5 1.8 1.7 2.2 2.2 1.7 1.5 1.6 1.6 40.4 55.9 60.2 46.1 57.8 67.1 63.1 62.5 274 278 283 281 227 223 229 233 115 119 121 121 99 98 98 99 99 98 97 97 98 99 48 50 45 42 37 52 62 49 43 45 222 227 223 235
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
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14
SOUTHERN CALIFORNIA LOGISTICS cENTRE
region overview
(PICTURED lEFT)
The High Desert is home to Southern California Logistics Centre (SCLC), an 8,500 Acre multi-modal logistics hub. SCLA, the 2,500 Acre logistics airport, provides two intercontinental runways including a 15,050 foot runway, allowing access for even the heaviest aircraft. GE Aviation and Boeing are just a two of the companies that have taken advantage of the low traffic, low humidity airport - ideal for aircraft painting, flight testing, UAS pilot training and more. 2,500 acres are dedicated to industrial/manufacturing development, already home to numerous industry leaders like Dr Pepper Snapple Group, Newell Rubbermaid Brands, Church & Dwight, Plastipak, and Arden Companies. Source: en.wikipedia.org/wiki/Southern_California_Logistics_Airport and victorvillecity.com/airport/
infrastructure
There are more than $1.8 Billion in infrastructure projects planned for the region to take place within the next 5 years. The High Desert experienced a massive 75% population growth from census years 2000 to 2010, leaving much of the roadways ill-equipped for the influx of vehicle traffic on surface streets and highways. Two new interchanges have been constructed since 2014 on Interstate 15: one at Ranchero Rd in Hesperia, and one at Nisqualli/La Mesa Rds in Victorville. Additionally, the I-15 interchanges at D St, E St, Stoddard Wells Rd in north Victorville are currently undergoing a full overhaul to widen the freeway, bridges and realign the on/off ramps. The cities of Victorville and Apple Valley have embarked on a joint project to create another east-west arterial in the High Desert. The Town of Apple Valley has recently completed the Yucca Loma bridge over the Mojave River which will connect the east valley with the logical extension of Green Tree Blvd in Victorville upon the completion of a bridge over the BNSF Railway. (PICTURED RIGHT) Local city streets have been under construction to repave, widen, and add stop lights in an effort to improve traffic flow.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
15
40 Acres SINGLE FAMILY residential LAND Tawney ridge ln & amethyst rd, victorville, ca
Corporate Office
12180 Ridgecrest Road, Suite 232 Victorville, CA 92395 PH. 760.983.2383 FAX 760.983.2433 WWW.KURSCHGROUP.COM Corporate BRE: 01896143
Broker Contact
Jeremy Schmidt Executive Vice President 760.983.2593 [email protected] BRE #01310579
The information contained in the following marketing document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kursch Group and should not be made available to any other person or entity without the written consent of Kursch Group. This marketing brochure has been prepared to provide summary, unverified information to prospective buyers and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kursch Group has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, or the compliance with State and Federal Regulations. The information contained in this marketing document has been obtained from sources we believe to be reliable; however, Kursch Group has not verified and will not verify, any of the information contained herein, nor has Kursch Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein and have satisfied themselves to anything that may affect the site prior to consummating a transaction.
TABLE OF CONTENTS 01 DEVELOPMENT SUMMARY
NWC TAWNEY RIDGE LN & AMETHYST RD VICTORVILLE, CA
SITE SUMMARY TAX MAP SITE PHOTOS LOCAL MAP SEWER MAP WATER MAP ZONING MAP DEMOGRAPHICS
02 CITY OVERVIEW SCHOOLS SUMMARY CITY OF VICTORVILLE
03 MARKET ANALYSIS VICTORVILLE HOME SALES
04 REGION OVERVIEW
SOUTHERN CALIFORNIA LOGISTICS CENTRE INFRASTRUCTURE PROJECTS
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
3
site SUMMARY
PROPERTY OVERVIEW
Assessors parcel numbers
The subject property provides an opportunity
0455-053-58
to deliver new homes in an active path of
0455-053-59
progress within the City of Victorville.
0455-053-60 0455-053-61
LOCATION The subject property is located north of
Condition of the site
Tawney Ridge Lane and west of Amethyst
The site is unimproved.
Road in the City of Victorville, CA.
Exit
Interstate 15 northbound at Mojave Dr. Turn
Zoning
left and head west approximately 2.75 miles.
R1-TB4 (Low Density Residential 5 du/ac)
Turn right on Amethyst Rd and go north about a half mile. The subject site is on the
UTILITIES
left at the northwest corner of Tawney Ridge
Electric
Ln & Amethyst Rd. Municipality City of Victorville (within City Limits) County of San Bernardino
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
Gas
Water/Sewer
Southern California Edison Southwest Gas Company City of Victorville
ASKING PRICE $500,000
KURSCH GROUP Inland empire north www.kurschgroup.com
4
TAX MAP
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
5
property photo
Aerial views north show the topography of all four parcels, located at the northwest corner of Amethyst Rd & Tawney Ridge Ln.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
6
LOCAL MAP
The Site is surrounded by established Residential Developments and Proposed Developments for future growth. West of the site are two elementary schools: Gus FranKlin Jr Elementary and West Creek Elementary. Hwy 395 is about 2 miles west of this property, providing easy access to SCLA (Southern California Logistics Airport), and the new Super Walmart anchored Shopping Center at the intersection of Hwy 395 & Palmdale Rd. Interstate 15 is an easy 3 miles east of the site via Mojave Dr.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
7
sewer map
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
8
water map
Existing 24-inch waterline in Amethyst Road.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
KURSCH GROUP Inland empire north www.kurschgroup.com
9
zoning map Zoned R-1 Low Density Residential (5 du/ac)
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
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10
1, 3, 5 Miles radius demographics
Population 2016 1 Mile 7,770 3 Miles 56,556 5 Miles 145,202
2021 8,370 59,526 152,407
Households 2016 1 Mile 2,023 3 Miles 14,133 5 Miles 38,761
2021 2,158 14,808 40,368
Median Age 2016 1 Mile 28.0 3 Miles 29.3 5 Miles 29.2
2021 28.2 29.6 29.8
Average HH Income 1 Mile 3 Miles 5 Miles
2021 $78,480 $64,739 $65,136
2016 $71,889 $60,179 $60,671
Source: stdb.com ESRI forecasts for 2016 and 2021
The High Desert Market is located 90 miles northeast of Los Angeles and encompasses the cities of Adelanto, Apple Valley, Barstow, Hesperia, Victorville and surrounding unincorporated areas of San Bernardino County. The regional population exceeds 442,000, nearly doubling from census data of 2000 to 2010. In fact, the city of Victorville was ranked the 6th fastest growing city in the United States for 2006! Interstate 15 bisects the region and Highway 395, Highway 18, Highway 138, Route 66 and Highway 58 all converge here. BNSF Railway runs throughout most of the high desert cities, hauling massive volumes of imported goods from the Ports of LA and Long Beach to the rest of the country.
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
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schools SUMMARY victor valley union High school district
The property is served by the Victor Valley Union High School District (VVUHSD) which covers an area of approximately 536 Square Miles. VVUHSD serves nearly 10,000 middle school and high school students. It is comprised of five (5) high schools, one (1) continuation high school, and two (2) middle schools.
school name grades enrollment Adelanto High School Cobalt Institute of Math and Science Goodwill High School Imogene Garner Hook Junior High School Lakeview Leadership Academy Silverado High School University Preparatory School Victor Valley High School
9-12 7-12 8-12 7-8 7-8 9-12 7-12 9-12
VICTOR elementary school district The property is served by the Victor Elementary School District (VESD) which serves nearly 9,000 elementary school and middle school students. VESD is comprised of eleven (11) elementary schools and three (3) middle schools.
1,748 864 206 808 796 2,213 1,115 1,892
Source: VVUHSD.org and GreatSchools.org
school name Grades enrollment Brentwood Elementary School Challenger School of Sports & Fitness Del Ray Elementary School Discovery School of the Arts Endeavour School of Exploration Galileo Academy 101 Green Tree East Elementary School Irwin Academy Liberty Elementary School Lomitas Elementary School Mojave Vista Elementary School Mountain View Montessori Charter School Park View Elementary School Puesta Del Sol Elementary School Sixth Street Prep School Village Elementary School West Palms Conservatory School
K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6 K-6
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
896 1,005 634 932 733 459 686 777 836 791 976 177 799 593 251 894 730
Source: AESD.net and GreatSchools.org
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city overview
victorville
County: San Bernardino total Area: ±73.74 sQUARE mILES incorporatED: September 21, 1962 mayor: gloria garcia WEBSITE: www.victorvilleca.gov
Year 1990 2000 2010 2016 2021
140,000
CLIMATE
2016 POPULATION
120,000
Victorville is in the High Desert region of Southern California where humidity is low and sunshine is plentiful. AVG JANUARY LOW TEMP: aVG jULY hIGH tEMP: AVG ANNUAL rAIN FALL: ELEVATION:
Population Growth Rate 40,674 64,029 57.40% 115,903 81.00% 124729 7.61% 131219 5.20%
31 F 100 F 6.18 in. 2,875 ft.
Source: usclimatedata.com/climate/victorville/california/unitedstates/usca1197 victorvilleca.gov/Site/AboutVictorville.aspx?id=66
100,000
124,729
average annual growth (1990-2016): 5.62% forecasted annual growth (2016-2021): 1.02% 131219
124729 115,903
80,000 64,029 60,000 40,000
40,674
20,000 57.40%
0 1990
81.00%
2000
2010 Population
40 ACRES NWC AMETHYST RD & TAWNEY rIDGE Ln, vICTORVILLE, ca
7.61% 2016
5.20% 2021
Growth Rate
Source: en.wikipedia.org/wiki/Adelanto,_California KURSCH GROUP Inland empire north www.kurschgroup.com
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vICTORVILLE home Resales
Number of Homes For Sale vs. Sold vs. Pended (Mar. 2016 - May. 2017) Number of Homes ForPrev Sale vs. Sold vs. Pended (Mar. 2016 - May.Month 2017)1 Yr Ago Curnt vs. Month Curnt vs. Same
Curnt17 vs. PrevApr. Month 17 May. May. 17 269 Apr. 17 269 124 124 168 168 Date 3/16 Date 3/16 319 For Sale 319 For Sale 197 New Listing 197 New Listing 132 Sold 132 Sold 147 Pended 147 Pended Months of Inventory (Closed Months of Inventory (Closed Months of Inventory (Pended Months of Inventory (Pended 41.4 Absorption Rate (Closed 41.4 Absorption Rate (Closed 46.1 Absorption 46.1 Absorption Rate Rate (Pended (Pended 231 Avg. 231 Avg. Active Active Price Price 188 Avg. Sold Price 188 Avg. Sold Price 104 Avg. 104 Avg. Sq. Sq. Ft. Ft. Price Price (Sold) (Sold) Sold/List Sold/List Diff. Diff. % % Sold/Orig LP Diff. % Sold/Orig LP Diff. % Days Days on on Market Market Avg CDOM 190 Median
For Sale For Sale Sold Sold Pended Pended
236 236 142 142 149 149
2.4 2.4 2.2 2.2
98 98 97 97 52 52 69
% Change % Change 14% 14% -12.7% -12.7% 12.8% 12.8% 4/16 5/16 4/16 5/16 294 283 294 283 187 186 187 186 132 152 132 152 168 166 168 166 2.2 2.2 1.8 1.8 44.9 53.7 44.9 53.7 57.1 58.7 57.1 58.7 242 242 242 242 208 203 208 203 109 113 109 113 98 98 97 97 51 51 64 205 195
Curnt17 vs. Same Month May. May. 16 1 Yr Ago % Change May. 17 269 May. 16 283 -4.9% % Change 269 283 -4.9% 124 152 -18.4% 124 152 -18.4% 168 166 1.2% 168 166 1.2% 6/16 7/16 8/16 9/16 6/16 7/16 8/16 9/16 282 280 304 290 282 280 304 290 190 178 185 157 190 178 185 157 153 148 138 144 153 148 138 144 158 139 128 129 158 139 128 129 1.9 1.8 1.9 2.2 2 1.9 1.8 1.9 2.2 2 1.7 1.8 2 2.4 2.2 1.7 1.8 2 2.4 2.2 54.3 52.9 45.4 49.7 54.3 52.9 45.4 49.7 56 42.1 44.5 56 49.6 49.6 42.1 44.5 243 236 232 244 243 236 232 244 223 220 211 214 223 220 211 214 111 114 113 113 111 114 113 113 99 99 99 99 99 99 99 99 99 99 98 99 98 98 99 98 99 98 98 99 50 39 39 35 46 50 39 39 35 46 60 46 50 42 54 218 215 213 220
Curnt vs. Same Qtr 1 Yr Ago Curnt Same Mar. Qtr 116 Yrto Ago% Change Mar. vs. 17 to % Change Mar. 17 to 269 Mar. 16 to 283 -4.9% 269 283 -4.9% 390 416 -6.2% 390 416 -6.2% 466 481 -3.1% 466 481 -3.1% 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 292 250 227 222 218 222 236 269 292 250 227 222 218 222 236 269 153 105 79 134 150 189 193 193 153 105 79 134 150 189 193 193 128 121 115 105 88 124 142 124 128 121 115 105 88 124 142 124 122 120 88 101 126 149 149 168 122 120 88 101 126 149 149 168 2.3 2.1 2 2.1 2.5 1.8 1.7 2.2 2.3 2.1 2 2.1 2.5 1.8 1.7 2.2 2.4 2.1 2.6 2.2 1.7 1.5 1.6 1.6 2.4 2.1 2.6 2.2 1.7 1.5 1.6 1.6 43.8 48.4 50.7 47.3 40.4 55.9 60.2 46.1 43.8 48.4 50.7 47.3 40.4 55.9 60.2 46.1 41.8 48 45.5 57.8 67.1 63.1 62.5 41.8 48 38.8 38.8 45.5 57.8 67.1 63.1 62.5 242 240 241 273 274 278 283 281 242 240 241 273 274 278 283 281 217 216 215 226 227 223 229 233 217 216 215 226 227 223 229 233 116 115 114 117 115 119 121 121 116 115 114 117 115 119 121 121 99 99 99 99 98 98 99 99 99 99 99 99 98 98 99 99 98 99 98 98 97 97 98 99 98 99 98 98 97 97 98 99 46 49 41 48 50 45 42 37 46 49 41 48 50 45 42 37 53 51 44 52 62 49 43 45 217 210 220 220 222 227 223 235
As of June 1, 2017 in the City of Victorville there were 269 listing Actively For Sale. 124 properties Sold in May 2017.
Average Price per SQFT (Sold) (Mar. 2016 - May. 2017) Curnt vs. Prev Month Apr. 17 May. 17 121
Avg. Sq. Ft. Price (Sold) (Sold) Price
Date Date For Sale Sale For New Listing Listing New
% Change 121 0%
3/16 3/16 319 319
4/16 4/16 294 294
197 197 132 132
Sold Sold Pended Pended
Months of Inventory (Closed Months of Inventory (Closed Sales) of Inventory (Pended Months Sales) Months of Inventory (Pended Sales) Absorption Rate (Closed Sales) Absorption Rate (Closed Sales) % Rate (Pended Absorption Sales) % Rate (Pended Absorption Sales) % Avg. Active Price Sales) % Price Avg. Active Avg. Sold Price Avg. Sold Price Avg. Sq. Ft. Price (Sold) Avg. Sq. Ft. Price (Sold) Sold/List Diff. % Sold/List Diff. % Sold/Orig LP Diff. % Sold/Orig LP Diff. % Days on Market Days on Market Avg CDOM Avg CDOM Median
Median
147 147
41.4 41.4 46.1 46.1 231 231 188 188 104 104
190 190
5/16 5/16 283 283
187 187 132 132
2.4 2.4 2.2 2.2
168 168
44.9 44.9 57.1 57.1 242 242 208 208 109 109
98 98 97 97 52 52 69 69 205 205
Curnt vs. Same Month 1 Yr Ago May. 17 May. 16 % Change 121 113 7.1%
6/16 6/16 282 282
186 186 152 152
2.2 2.2 1.8 1.8
166 166
53.7 53.7 58.7 58.7 242 242 203 203 113 113
98 98 97 97 51 51 64 64 195 195
7/16 7/16 280 280
190 190 153 153
1.9 1.9 1.7 1.7
158 158
54.3 54.3 243 243 223 223 111 111
99 99 98 98 50 50 60 60 218 218
8/16 8/16 304 304
178 178 148 148
1.8 1.8 1.8 1.8
139 139
52.9 52.9 56 49.6 56 49.6 236 236 220 220 114 114 99 99 99 99 39 39 46 46 215
215
185 185 138 138
1.9 1.9 2 2
128 128
45.4 45.4 42.1 42.1 232 232 211 211 113 113
99 99 98 98 39 39 50 50 213 213
Curnt vs. Same Qtr 1 Yr Ago Mar. 17 to Mar. 16 to % Change 120.36 108.88 10.5%
9/16 9/16 290 290
10/16 10/16 292 292
157 157 144 144
2.2 2.2 2.4 2.4
129 129
49.7 49.7 44.5 44.5 244 244 214 214 113 113
11/16 11/16 250 250
153 153 128 128
2 2 2.2 2.2
99 99 98 98 35 35 42 42 220 220
122 122
43.8 43.8 41.8 41.8 242 242 217 217 116 116
99 99 99 99 46 46 54 54 217 217
12/16 12/16 227 227
105 105 121 121
2.3 2.3 2.4 2.4
120 120
48.4 48.4 240 240 216 216 115 115
99 99 98 98 46 46 53 53 210 210
115 115 2.1 2.1 2.1 2.1
50.7 50.7 48 38.8 48 38.8 241 241 215 215 114 114 99 99 99 99 49 49 51 51 220
220
1/17 1/17 222 222
2/17 2/17 218 218
79 134 134 79 105 105
88 101 88 101 2 2 2.6 2.6 47.3 47.3 45.5 45.5 273 273 226 226 117 117 99 99 98 98 41 41 44 44 220
220
150 150
2.1 2.1 2.2 2.2
126 126
40.4 40.4 57.8 57.8 274 274 227 227 115 115
99 99 98 98 48 48 52 52 222 222
3/17 3/17 222 222
189 189 88 124 124 88 149 149
2.5 2.5 1.7 1.7
55.9 55.9 67.1 67.1 278 278 223 223 119 119
98 98 97 97 50 50 62 62 227 227
4/17 4/17 236 236
5/17 5/17 269 269
193 193 142 142
1.8 1.8 1.5 1.5
149 149
60.2 60.2 63.1 63.1 283 283 229 229 121 121
98 98 97 97 45 45 49 49 223 223
The Average Price per Sq. Ft. Sold in May 2017 was $121, up 7.1% in the same month of 2016.
193 193 124 124
1.7 1.7 1.6 1.6
168 168
46.1 46.1 62.5 62.5 281 281 233 233 121 121
99 99 98 98 42 42 43 43 235 235
2.2 2.2 1.6 1.6
99 99 99 99 37 37 45 45
Avg Prices & Median Price (Mar. 2016 - May. 2017)
Median Avg. Active Price Avg. Sold Price
Curnt vs. Prev Month Apr. 17 May. 17 235 281
233
Date For Sale New Listing Sold Pended Months of Inventory (Closed Months of Inventory (Pended Absorption Rate (Closed Absorption Rate (Pended Avg. Active Price Avg. Sold Price Avg. Sq. Ft. Price (Sold) Sold/List Diff. % Sold/Orig LP Diff. % Days on Market Avg CDOM Median
% Change 223 5.4% 283 0.7%
Curnt vs. Same Month 1 Yr Ago May. 17 May. 16 % Change 235 195 20.5% 281 242 16.1%
229 1.7% 3/16 319 197 132 147 2.4 2.2 41.4 46.1 231 188 104
5/16 283 186 152 166 2.2 1.8
44.9 57.1 242 208 109 98 97 52 69
190
233
4/16 294 187 132 168
1.9 1.7 53.7 58.7 242 203 113
98 97 51 64 205
6/16 282 190 153 158 1.8 1.8 54.3 243 223 111 99 98 50 60
195
218
52.9 56 49.6 236 220 114 99 99 39 46 215
8/16 304 185 138 128 1.9 2
2.2 2.4 45.4 42.1 232 211 113
99 98 39 50
10/16 292 153 128 122 2 2.2
49.7 44.5 244 214 113 99 98 35 42
213
228
9/16 290 157 144 129
2.3 2.4
99 99 46 54 220
217
12/16 227
2.1 2.1 48.4 48 240 216 115
99 98 46 53
99 99 49 51 210
The Average Active Asking Price in May 2017 was $281,000, up 16.1% in the same month of 2016.
200 14%
11/16 250 105 121 120
43.8 41.8 242 217 116
The Average Sold Price in May 2017 was $233,000, up 14.8% in the same month of 2016.
Source: VVAR.com
Curnt vs. Same Qtr 1 Yr Ago Mar. 17 to Mar. 16 to % Change 228 198 15.2% 281 238 18.1%
203 14.8% 7/16 280 178 148 139
Home reSales
1/17 222 79 134 115 105 88 101 2 2.6 50.7 47.3 38.8 45.5 241 273 215 226 114 117 99 98 41 44 220 220
2/17 218 150
3/17 4/17 5/17 222 236 269 189 193 193 88 124 142 124 126 149 149 168 2.1 2.5 1.8 1.7 2.2 2.2 1.7 1.5 1.6 1.6 40.4 55.9 60.2 46.1 57.8 67.1 63.1 62.5 274 278 283 281 227 223 229 233 115 119 121 121 99 98 98 99 99 98 97 97 98 99 48 50 45 42 37 52 62 49 43 45 222 227 223 235
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SOUTHERN CALIFORNIA LOGISTICS cENTRE
region overview
(PICTURED lEFT)
The High Desert is home to Southern California Logistics Centre (SCLC), an 8,500 Acre multi-modal logistics hub. SCLA, the 2,500 Acre logistics airport, provides two intercontinental runways including a 15,050 foot runway, allowing access for even the heaviest aircraft. GE Aviation and Boeing are just a two of the companies that have taken advantage of the low traffic, low humidity airport - ideal for aircraft painting, flight testing, UAS pilot training and more. 2,500 acres are dedicated to industrial/manufacturing development, already home to numerous industry leaders like Dr Pepper Snapple Group, Newell Rubbermaid Brands, Church & Dwight, Plastipak, and Arden Companies. Source: en.wikipedia.org/wiki/Southern_California_Logistics_Airport and victorvillecity.com/airport/
infrastructure
There are more than $1.8 Billion in infrastructure projects planned for the region to take place within the next 5 years. The High Desert experienced a massive 75% population growth from census years 2000 to 2010, leaving much of the roadways ill-equipped for the influx of vehicle traffic on surface streets and highways. Two new interchanges have been constructed since 2014 on Interstate 15: one at Ranchero Rd in Hesperia, and one at Nisqualli/La Mesa Rds in Victorville. Additionally, the I-15 interchanges at D St, E St, Stoddard Wells Rd in north Victorville are currently undergoing a full overhaul to widen the freeway, bridges and realign the on/off ramps. The cities of Victorville and Apple Valley have embarked on a joint project to create another east-west arterial in the High Desert. The Town of Apple Valley has recently completed the Yucca Loma bridge over the Mojave River which will connect the east valley with the logical extension of Green Tree Blvd in Victorville upon the completion of a bridge over the BNSF Railway. (PICTURED RIGHT) Local city streets have been under construction to repave, widen, and add stop lights in an effort to improve traffic flow.
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