TWO OCEAN VIEW CUSTOM HOME LOTS ON 60 ACRES · Newport Beach Office Tel: (949) 419-3205 Fax: (949) 419-3210 [email protected] ... (2 HOMES) Laguna Niguel, CA ACT

Offering Memorandum

Crown Valley at Pacific Island Drive • Laguna Niguel • CA • 92677

TWO OCEAN VIEW CUSTOM HOME LOTS ON ±60 ACRES

Matthew D. Wenzel

First Vice President Investments

Director - National Land Group

Newport Beach Office

Tel: (949) 419-3205

Fax: (949) 419-3210

[email protected]

License: CA 01198357

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, 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. Marcus & Millichap 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, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

OCEAN VIEW CUSTOM HOME SITE (2 HOMES)

Laguna Niguel, CA

ACT ID ZAA0100505

2


3

INVESTMENT

OVERVIEW

Marcus & Millichap is pleased to offer for sale the extraordinary custom home development site located in the affluent coastal Southern California city of Laguna Niguel.

Located at the intersection of Crown Valley Parkway and Pacific Island Drive, the subject property consists of four contiguous parcels of land. The development site

boasts ±60.9 acres in total with approximately 5.98 of those acres located in two buildable pads on the central ridgeline. This site is currently zoned for the development

of a huge 20,000 SF residential estate on the ±4.75 lower pad along with a 5,000 SF house on the ±1.23 acre upper pad.

Both of the two buildable pads have expansive views of the Pacific Ocean overlooking the Ritz-Carlton Resort and Dana Point. One major benefit of this site is the net

buildable acreage of each of the building pads – they are both large enough to allow a developer the ability to add additional amenities to the property such as swimming

pools, a tennis court, additional outbuildings or an oversized lawn/garden and will give a new owner a unique estate property with an amazing level of privacy and virtually

no immediate neighbors.

This site is located on the second ridgeline inland from the coast. Site topology is generally steep with a central descending ridgeline that extends from north to south.

The two building pads are located in the central portion of the property and portions of the upper ridgeline have been graded. The coastal zone boundary bisects this

property leaving approximately half of this site in coastal zone. Please see the following page for a more detailed breakdown of the site layout.

With 5.98 total acres in the two buildable pads and a list price of $6,000,000, a developer will be able to purchase the parcel of A+ prime coastal Laguna Niguel real estate

for right around $1,000,000 per net buildable acre. Prime coastal development real estate in south Orange County is so difficult to find and in such high demand that it is

easy to see that an offering of this size and this quality provides for an amazingly unique development opportunity virtually unmatched in the market today.

OFFERING SUMMARY

▪ A+ Coastal Laguna Niguel Real Estate Priced at Only $1,000,000 Per Net Buildable Acre

▪ Second Ridge Line from the Coast with Expansive Ocean Views Overlooking the Ritz Carlton

Resort and Dana Point

▪ Huge Parcel of Land Boasting ±60.9 Total Acres of which ±5.98 Acres is Buildable and Located

in Two Pads Along the Central Ridgeline in the Middle of the Site

▪ The Lower Pad is ±4.75 Acres and is Zoned for a Large 20,000 SF Estate

▪ The Upper Pad is ±1.23 Acres and is Zoned for a 5,000 SF House

▪ Incredibly Rare Larger Parcel of Developable Land in Coastal Orange County that is Virtually

Unmatched in the Market Today

INVESTMENT HIGHLIGHTS

INVESTMENT OVERVIEW

4


ZONING – COASTAL ZONE LAND USE


5

The subject property consists of ±60.9 acres at the

intersection of Pacific Island Drive and Crown Valley

Parkway. The coastal zone boundary bisects the

site and approximately one-half of the site (the

western side) is located in the coastal zone and falls

under the jurisdiction of the South Laguna Specific

Plan portion of the City of Laguna Niguel’s LCP

(Local Coastal Program). Development within the

easterly portion of the property (that portion outside

the coastal zone) is guided by the Laguna Niguel

Planning Community (LNPC).

There are two relatively flat building pads in the

center of this site. The larger (lower) pad is

approximately 4.75 acres in size and the smaller

(upper) pad is approximately 1.23 acres in size.

Land use on these pads is designated RSF-8 within

the coastal zone which is a residential single-family

classification, and Low Density Residential in the

LNPC. The remainder of the project site,

approximately 90%, is designated as Open Space.

The current development allowed on this site are for

a 20,000 square foot single family residence on the

lower pad and a 5,000 square foot single family

residence on the upper pad.

ZONING – COASTAL ZONE LAND USE

OFFERING SUMMARY

Price $6,000,000

Down Payment 100% / $6,000,000

Loan Type All Cash

Lot Size (SF) 2,652,804

Price/SF $2.26

Lot Size (Acres) 60.9 acre(s)

Price/Acre $98,522

Allowable Buildable SF 25,000

Number of Lots 2

Price/Lot $3,000,000

Type of Ownership Fee Simple

#

EXECUTIVE SUMMARY

OFFERING SUMMARY

#


6


6

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES *

Saddleback College 3,952

Drop Lot Services 1,100

St Regis Resort Monarch Beach 1,100

Techko Inc 1,000

Medusind Solutions Inc 900

Ritz-Carlton Laguna Niguel 700

Western Operations Region 480

Costco 400

Fluidmaster Inc 400

Temco Logistics 400

Contract 384

Altera Real Estate 356

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2018 Estimate Pop 11,258 80,044 167,705

2010 Census Pop 10,701 76,505 157,555

2018 Estimate HH 5,110 33,151 66,166

2010 Census HH 4,778 31,090 61,248

Median HH Income $118,947 $98,878 $99,937

Per Capita Income $84,116 $62,905 $59,727

Average HH Income $185,273 $151,764 $151,157

* # of Employees based on 5 mile radius

VIEW TO THE SOUTH (COAST/RITZ CARLTON)


7

VIEW TO THE EAST (EL NIGUEL CC)


8

VIEW TO THE WEST (RIDGELINE SFRs)


9

APPROVED PLAN 1993


10

PARCEL MAP


11

TOPOGRAPHIC MAP


12

GENERAL PLAN LAND USE MAP


13

REGIONAL MAP


14

AERIAL


15

LAGUNA NIGUEL


16

The subject property is located at the southern end

of the San Joaquin Hills in the extremely desirable

community of Laguna Niguel. As part of South

Orange County’s master planned city

developments, the city of Laguna Niguel is mostly

comprised of planned residential communities,

organized retail commercial centers and

concentrated office business parks.

The subject property is located in the southwestern

portion of Laguna Niguel on the northwest corner of

Crown Valley Parkway and Pacific Island Drive. This

area consists predominantly of residential land uses

situated along coastal hills and canyons. Expansive

ocean views are provided to the west. A coastal

influence is reflected throughout the entire area.

Parks and recreational facilities are abundant.

Primary highway access to the area is via Interstate

5 and State Route 73 which run along the east and

north side of the city. Crown Valley Parkway is one

of the major arterials in the area and generally runs

in a north-south direction, following the contours of

the rolling terrain and the planned residential

developments.

LAGUNA NIGUEL


17

FINANCIAL

ANALYSIS

Price $6,000,000 Property Address NWC of Crown Valley Parkway/Pacific Island Drive

Laguna Niguel, CA 92677

APN 658-011-41, 42, 43 & 44

Lot Size (Gross Acreage) ±60.9 Zoning RSF-8 (Residential Single Family - Area 8)

Price Per Acre (Gross) $98,522 Low Density Residential

Price Per SF (Gross) $2.26 Open Space

PRICING - NET BUILDABLE ACREAGE

Lot Size (Net Buildable Acreage) ±5.98 Water Moulton Niguel Water District

Net Acreage Pad 1 (for 20,000 SF Estate) ±4.75 Sewer Moulton Niguel Water District

Net Acreage Pad 2 (for 5,000 SF House) ±1.23 Electric San Diego Edison

Price Per Acre (Net Buildable) $1,003,344 Gas Southern California Gas Company

Price Per SF (Net Buildable) $23.03

School District Capistrano Valley

Elementary Moulton Elementary School

Middle School Niguel Hills Middle School

High School Dana Hills High School

PRICING - GROSS ACREAGE

SITE DESCRIPTION

UTILITIES

SCHOOLS

PRICE

PROPERTY & PRICING SUMMARY


PROPERTY & PRICING SUMMARY

18


19

MARKET

COMPARABLES


SALES COMPARABLES MAP

20

TWO OCEAN VIEW

CUSTOM HOME LOTS ON ±60 ACRES

(SUBJECT)

130 Irvine Court

29 Beach View Ave.

6 Coastline Drive

1465 Bluebird Canyon Dr.

33801 Killarney

1054 Flamingo Road

9 Le Conte

27662 Fargo Road

SALES COMPARABLES

1

2

3

4

5

7

8

6

21

PROPERTY NAMETWO OCEAN VIEW CUSTOM HOME LOTS ON ±60 ACRES

SALES COMPARABLES

Avg. $151.95

$0.00

$40.00

$80.00

$120.00

$160.00

$200.00

$240.00

$280.00

$320.00

$360.00

$400.00

Subject

Property

(Net

Rentable

SF)

130 Irvine

Court

29 Beach

View Ave.

6 Coastline

Drive

1465

Bluebird

Canyon Dr.

33801

Killarney

1054

Flamingo

Road

9 Le Conte 27662

Fargo Road

Average Price Per Square Foot

Avg. $6,619,058

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

$20,000,000

Subject

Property

(Net

Rentable

Acres)

130 Irvine

Court

29 Beach

View Ave.

6 Coastline

Drive

1465

Bluebird

Canyon Dr.

33801

Killarney

1054

Flamingo

Road

9 Le Conte 27662

Fargo Road

Average Price Per Acre

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


22

SALES COMPARABLES

Asking Price $6,000,000

Down Payment $6,000,000

Down Payment % 100%

Zoning RSF-8

Price/SF $2.26

Lot Size (Acres) 60.9 acre(s)

Price/Acre $98,522


Crown Valley at Pacific Island Drive, Laguna Niguel, CA, 92677

ENTITLED: YES | PERMIT READY: NO

1

Close of Escrow 10/22/2019

Sales Price $4,000,000

Down Payment % 100%

Zoning R1

Price/SF $340.10

Lot Size (Acres) 0.27

Price/Acre $14,814,815

130 IRVINE COURT130 Irvine Court, Laguna Beach, CA, 92651


2



Down Payment % 100%

Zoning R1

Price/SF $229.62



Lot Dimensions Irregular

29 BEACH VIEW AVE.29 Beach View Ave., Dana Point, CA, 92629


PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


23

SALES COMPARABLES

3



Down Payment % 100%

Zoning R1

Price/SF $177.49



6 COASTLINE DRIVE6 Coastline Drive, Newport Coast, CA, 92657


4



Down Payment % 100%

Zoning R1

Price/SF $176.00



1465 BLUEBIRD CANYON DR.1465 Bluebird Canyon Dr., Laguna Beach, CA, 92651


5



Down Payment % 100%

Zoning R1

Price/SF $99.17



33801 KILLARNEY33801 Killarney, San Juan Capistrano, CA, 92675


PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


24

SALES COMPARABLES

6


Sales Price $740,000

Down Payment % 100%

Zoning R1

Price/SF $89.41



1054 FLAMINGO ROAD1054 Flamingo Road, Laguna Beach, CA, 92651


7



Down Payment % 100%

Zoning R1

Price/SF $72.92



9 LE CONTE9 Le Conte, Laguna Niguel, CA, 92677


8



Down Payment % 100%

Zoning R1

Price/SF $30.90



27662 FARGO ROAD27662 Fargo Road, Laguna Hills, CA, 92653



25

MARKET

OVERVIEW

MARKET OVERVIEW

ORANGE COUNTYOVERVIEW

1

One of the longest uninterrupted stretches of public beaches in the

world along 42 miles of Pacific Ocean defines the western edge of

Orange County, which is located in the heart of Southern California.

The county’s land area covers 790 square miles, bordering the

counties of Los Angeles, San Diego, Riverside and San Bernardino.

Outdoor activities, beaches and temperate climate attract visitors,

residents and businesses, expanding the local population to more than

3.2 million. Anaheim, the home to major theme parks, is the largest

city in the county with a population of 358,000 people. Santa Ana,

Irvine and Huntington Beach all have more than 200,000 residents.

MARKET OVERVIEW

METRO HIGHLIGHTS

DIVERSE EMPLOYMENT

Tourism, high-tech operations, healthcare,

education and aerospace/military contractors are

major employers in the metro.

EXTENSIVE FOREIGN INVESTMENT

Numerous foreign investment firms and businesses

establish headquarters in the area to be near

Southern California ports of entry.

PROXIMITY TO OTHER MARKETS

Orange County is 30 miles to Los Angeles and 90

miles from San Diego. The Mexican border is 110

miles away.


MARKET OVERVIEW

ECONOMY▪ The local economy contains an employment base of more than 1.6 million jobs.

▪ The aerospace and technology industries make up a significant portion the economy, while

homeland security and defense contracts support smaller electronics firms.

▪ Research and development at a variety of institutions plays a vital role in growing a high-

tech base that includes companies such as Allergan and Google.

▪ Travel and tourism draw many visitors and support the retail and hospitality sectors. The

area contains beaches and attractions such as Disneyland and Knott’s Berry Farm.

SHARE OF 2018 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

University of California, Irvine

The Walt Disney Co.

St. Joseph Health Systems

Boeing Co.

Bank of America Corp.

Memorial Care Health System

Wells Fargo

Kaiser Permanente

Allied Universal

Hoag Memorial Hospital Presbyterian* Forecast

2

MANUFACTURING

9%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

16%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

19%

6%

10% 14% 7%

14%


MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The local population will expand by more than 71,000 residents over the next five

years and during this time, nearly 37,000 households will be added.

▪ Due in part to high home prices, the homeownership rate of 57 percent is below the

national rate of 64 percent.

▪ Roughly 38 percent of the population age 25 and older have attained a bachelor’s

degree, with 13 percent also holding a graduate or professional degree.

From fishing to yachting, water sports of every kind abound at the beaches, harbors and

marinas on the Orange County coast. Many of its beaches are famous for surfing; the town

of Huntington Beach is known worldwide as Surf City, USA. The weather is also perfect for

golfing, hiking and biking. Orange County also has a world-class selection of

entertainment, restaurants and shopping. The area boasts big attractions such as

Disneyland and Knott’s Berry Farm. Orange County also hosts major sports teams in

baseball, hockey and soccer. Educational institutions of higher learning include two public

universities, California State University, Fullerton, and the University of California in Irvine.

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

QUALITY OF LIFE

3

2018 Population by Age

0-4 YEARS

6%5-19 YEARS

19%20-24 YEARS

7%25-44 YEARS

27%45-64 YEARS

27%65+ YEARS

14%


37.9

2018MEDIAN AGE:

U.S. Median:

38.0

$82,700

2018 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$58,800

3.2M

2018POPULATION:

Growth2018-2023*

2.2%

1.1M

2018HOUSEHOLDS:

3.4%

Growth2018-2023*:

8


DEMOGRAPHICS

29

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2018 Experian

Created on November 2019

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population by Age

0 to 4 Years 3.28% 4.47% 4.94%

5 to 14 Years 7.58% 10.09% 10.76%

15 to 17 Years 3.08% 3.48% 3.55%

18 to 19 Years 1.93% 2.21% 2.23%

20 to 24 Years 3.95% 5.15% 5.26%

25 to 29 Years 4.21% 5.65% 5.58%

30 to 34 Years 3.91% 5.15% 5.24%

35 to 39 Years 3.53% 4.74% 5.09%

40 to 49 Years 11.46% 12.94% 13.53%

50 to 59 Years 19.41% 17.80% 17.16%

60 to 64 Years 9.93% 8.16% 7.74%

65 to 69 Years 9.09% 7.01% 6.60%

70 to 74 Years 6.93% 4.97% 4.57%

75 to 79 Years 4.69% 3.26% 3.02%

80 to 84 Years 3.34% 2.29% 2.13%

Age 85+ 3.68% 2.64% 2.59%

Median Age 53.88 47.49 45.97

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 9,026 59,713 122,850

Elementary (0-8) 0.22% 1.94% 2.50%

Some High School (9-11) 1.01% 2.24% 3.04%

High School Graduate (12) 8.48% 12.52% 12.77%

Some College (13-15) 20.48% 22.07% 21.34%

Associate Degree Only 8.46% 8.96% 8.96%

Bachelors Degree Only 37.02% 32.08% 31.48%

Graduate Degree 24.29% 19.66% 18.97%

30

Income

In 2018, the median household income for your selected geography is

$118,947, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 35.27%

since 2000. It is estimated that the median household income in your

area will be $138,349 five years from now, which represents a change

of 16.31% from the current year.

The current year per capita income in your area is $84,116, compare

this to the US average, which is $32,356. The current year average

household income in your area is $185,273, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 11,258. The

population has changed by -0.51% since 2000. It is estimated that

the population in your area will be 11,352.00 five years from now,

which represents a change of 0.83% from the current year. The

current population is 48.14% male and 51.86% female. The median

age of the population in your area is 53.88, compare this to the US

average which is 37.95. The population density in your area is

3,583.58 people per square mile.

Households

There are currently 5,110 households in your selected geography. The

number of households has changed by 5.60% since 2000. It is

estimated that the number of households in your area will be 5,195

five years from now, which represents a change of 1.66% from the

current year. The average household size in your area is 2.16 persons.

Employment

In 2018, there are 3,586 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

87.19% of employees are employed in white-collar occupations in

this geography, and 12.63% are employed in blue-collar occupations.

In 2018, unemployment in this area is 3.27%. In 2000, the average

time traveled to work was 33.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

88.94% White, 0.79% Black, 0.05% Native American and 5.61%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 7.20% of the current year

population in your selected area. Compare this to the US average of

18.01%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $1,000,000 in 2018,

compare this to the US average of $201,842. In 2000, there were

3,619 owner occupied housing units in your area and there were

1,220 renter occupied housing units in your area. The median rent at

the time was $1,166.


DEMOGRAPHICS

31

DEMOGRAPHICS

TRAFFIC COUNT

YEAR COUNT

2014 26,296

2011 12,914

2011 915

MARKETING PLAN

#

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMEOCEAN VIEW CUSTOM HOME SITE (2 HOMES)

PRICING AND VALUATION MATRIX

PROPERTY NAMETWO OCEAN VIEW CUSTOM HOME LOTS ON ±60 ACRES

32

MARKET OVERVIEW


32

Offering Memorandum

Crown Valley at Pacific Island Drive • Laguna Niguel • CA • 92677


Matthew D. Wenzel

First Vice President Investments

Director - National Land Group

Newport Beach Office

Tel: (949) 419-3205

Fax: (949) 419-3210

[email protected]

License: CA 01198357

Documents

TWO OCEAN VIEW CUSTOM HOME LOTS ON 60 ACRES · Newport Beach Office Tel: (949) 419-3205 Fax: (949) 419-3210 [email protected] ... (2 HOMES) Laguna Niguel, CA ACT