The property is zoned R1 (2.5-5 d.u./acre) and is entitled for 174 lots (7,200 SF), a 2.79 acre park and a .81 acre water quality basin.

Location Highlights

The City of Menifee is located in the heart of South West Riverside County which is considered the commercial and tourism “gem” of the county. Incorporated in 2008, the relatively young city is bordered by the economically vibrant cities of Murrieta,Riverside,Temecula. To the West is the newly incorporated City of Wildomar and to East is unincorporated Riverside County territory.

Menifee has a Mediterranean climate amenable to year round recreation, and has close proximity to public golf courses and lakes, the Temecula Wine Country, Pechanga Resort and Casino and the numerous tourist destinations of San Diego and Orange Counties.

The parcel consists of 7.78 gross acres with 3.70 net buildable acres on moderately slopping northwest terrain. The site is currently vacant and undeveloped with improved roads contiguous the site. Residential units will be situated in the northeast portion of the site (48 units). Tentative map pending August 2016.

The land is bound on the east by an existing church (not part of the property) and to the south by an existing residential development and vacant land. Sunset Road is slated for realignment and existing street improvements allow for connection to all wet and dry utilities. Open terrain offers an opportunity for park/recreational amenities.

Emerald Ridge boasts easy access to main thoroughfares in the Southern California region with San Diego as the sixth largest city in the nation. North County San Diego is a centralized location for many to live, work and play due to the proximity to Downtown San Diego, Orange County, Los Angeles and the Inland Empire. The City is bordered to the North by the US Marine Corps base Camp Pendleton and much of the city reflects its military influence.

Narrative

The site is triangular in shape, presentably undeveloped and consists of various factors including:

• Plans / Entitlement: Plans available for a 48 unit townhome complex. Project could be offered as an approved project. Eliminating entitlement risk would increase the value and enhance the marketability of the site.

• Views: Many of the units would have a slight / obstructed ocean view and most units would views of the valley.

• Density: surrounded by various residential development including single family tract homes, multi-family apartments, residential condominium project.

• Services: well located among various services including restaurants, offices services such a postal, copy centers as well as recreation amenities and shopping food markets.

• Streets: residential street surround the site allowing for ease of access for project circulation and development. Additionally, the fully improved arterials (streets) allow for ease of access to (I-78 + I-15) freeways and distant community services.

• Improvements: street improvements allow for ease + access of utilities such as sewer, water, wet + dry utilities.