Emerald Ridge is a 7.78 acre parcel located in San Diego County within the City of Oceanside, State of California. The property designated for undeveloped land entitled for a multi-family complex consisting of 48 town-homes. Emerald Ridge is located on Emerald Drive with immediate access to California State Route 78 which allows for immediate access to the I-5 and I-15 Interstate Freeways. With close proximity to the Pacific Ocean, planned units may include amenities such as partial sea views and views of the surrounding valley. This site is also situated minutes to shopping centers, Mira Costa Community College, Cal State San Marcos University, Tri-City Medical Center, Camp Pendleton and the new Camp Pendleton Navel Training Hospital.

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.