OCEAN VIEW VILLAGE APPROVED LOTS/UNITS WITH FINAL MAP

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1 Natural Attraction Location on Western Edge of the Mesa Unobstructed Ocean, Mountain and Valley Views Flat Site 106 Stacked Flats, 24 Townhomes & 13 Detached Condos Average Unit Size 1,141 Square Feet - Multi-Family & 1,977 Square Feet - Single Family Can Be Annexed to CFD PRICE: $5,600,000 Mt. Palomar Otay Ranch Incredible Ocean Views From Subject Property Pacific Ocean San Diego Bay Point Loma Main Street Sea World s Water Park Sleep Train Amphitheatre Otay Valley Road Vista Santo Domingo SUBJECT INCREDIBLE VIEW PROPERTY Vista Pacifica Avenida De Las Vistas UNOBSTRUCTED PACIFIC OCEAN / POINT LOMA VIEW OVER VISTA PACIFICA FUTURE COMMERCIAL Exposition Way Brown Field Municipal Airport FUTURE LIGHT INDUSTRIAL Innovative Drive

2 PAGE CONTENT 3 AERIALS 7 LOCATION MAP People from these homes and condos come up to the natural attraction of Ocean View Village. Northern Mountain Views From Property 9 PROPERTY INFO 11 DOCUMENT LINKS 12 UNIT MIX Mt. Palomar 13 CITY FEES 14 CFD MAP 15 TENTATIVE MAP 16 FLOOR PLANS 17 ELEVATIONS 18 NEW HOME SALES COMPARABLES View from Ocean View Village looking over Edge Water Condominiums and Vista Pacifica Homes. 19 RESALE HOME COMPARABLES No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice. 2

3 THE TERMINUS OF VISTA SANTO DOMINGO AT OCEAN VIEW VILLAGE AERIALS Vista Santo Domingo NORTHERN EDGE OF OTAY MESA Otay Valley Road Unobstructed views of Downtown San Diego, San Diego Bay, Point Loma, Silver Strand, and the Pacific Ocean over Vernal Pool Preserve. 7 Single Family 6 Single Family SUBJECT PROPERTY 18 Flats 18 Flats 17 Flats 17 Flats 18 Flats 18 Flats 7 Townhomes 4 Townhomes 4 Townhomes 9 Townhomes FUTURE COMMERCIAL FUTURE LIGHT INDUSTRIAL NEIGHBORHOOD COMMERCIAL OFFICE LIGHT INDUSTRIAL/ OFFICE N 3

4 Vista Pacifica AERIALS Vista Santo Domingo Avenida De Las Vistas Edge Water Otay Valley Road Unobstructed view over Vernal Pool Preserve. SUBJECT PROPERTY Road to be constructed Food, Beverage, Groceries, Deli, Medical, Dental, Health Practitioner Office FUTURE COMMERCIAL FUTURE LIGHT INDUSTRIAL Innovative Drive Exposition Way N 4

5 View Trail AERIALS Specialty Paving with Enhanced Concrete Creating a Walkable Connection to the Retail Outdoor Retail Courtyard 5

6 AERIALS Otay Ranch Main Street Sea World s Water Park Sleep Train Amphitheatre Vista Pacifica Edge Water Avenida De Las Vistas Vista Santo Domingo N SUBJECT PROPERTY FUTURE COMMERCIAL Exposition Way Innovative Drive Otay Valley Road FUTURE LIGHT INDUSTRIAL Heritage Road Brown Field Municipal Airport 6

7 Pacific Ocean San Diego Bay Silver Strand AERIALS Vista Del Mar School Ocean View Hills School Kaiser Permanente Otay Mesa San Ysidro High School Ocean View Hills Housing Cornerstone Greenfield Village Vista Pacifica Avenida De Las Vistas Sea World s Water Park Otay Mesa Rd Corporate Center Dr Innovative Dr Exposition Way FUTURE COMMERCIAL SUBJECT PROPERTY OVV Vista Santo Domingo Edge Water Vista Pacifica Park Sleep Train Amphitheatre FUTURE LIGHT INDUSTRIAL 7

8 LOCATION MAP SAN DIEGO BAY NATIONAL CITY CHULA VISTA Primary entrance through Vista Santo Domingo MAIN ST IMPERIAL BEACH MAIN ST SUBJECT PROPERTY OTAY VALLEY RD AVENIDA DE LAS VISTAS VISTA SANTO DOMINGO N N SAN YSIDRO USA/MEXICO INTERNATIONAL BORDER TIJUANA SUBJECT PROPERTY OCEAN VIEW HILLS PKWY CORPORATE CENTER DR OTAY MESA RD INNOVATIVE DR OTAY VALLEY RD Primary access to property is off Interstate 805 via Main St. to Otay Valley Rd. 8

9 PROPERTY INFO Location: This is the property with the natural attraction with incredible distant and wide area Pacific Ocean to coastal mountain views. The subject property is a 5.5 acre portion of a walkable village located at the South end of Vista Santo Domingo in the Otay Mesa neighborhood of the city of San Diego, CA. The subject property, also known as Ocean View Village`, is located just east of the Ocean View Hills master planned community at the north edge mesa creating a natural attraction, and less than a mile north of the California and Mexico border crossing. With immediate access less than ½ mile to the south to California State Highway 905 and Interstate miles west of the site. Jurisdiction: Otay Mesa (City of San Diego) APN #: Acreage: Topography: Zoning: General Plan: Density: 5.55 Acres Flat RM-2-4 (Multi-Family Residential) R-M (Residential Medium) 1 Dwelling Unit per 1,750 square feet of land View looking over Vista Pacifica Homes at Avenida Vistas and Edge Water Condominiums below. Maximum Height: 40 Project Status: The property is part of a fully entitled mixed-use project in the southernmost neighborhood of San Diego County with entitlements for 143 units with 15 designated as moderate income units at 100% AMI for sale and 65% AMI for rent. The project consists of 24 townhomes, 106 garden flats, 13 detached condos, Total build-out and saleable square footage is 224,381 SF. On December 1, 2008, the Ocean View Village Project #96580 received unanimous approval from the City of San Diego which included Site Development Permit #320732, a Rezone Ordinance # to RM-2-4 (Multi-Family Residential) and Vesting tentative Map # The project was previously approved for the Affordable Housing Expedite Plan. The residential portion of the project is being sold and phased separately. The entrance to the project will be on Vista Santo Domingo. The property owner has a grading permit in hand and the buyer will be responsible for grading and construction of the road. All off site storm drains are already in place on site and the project is grandfathered in to old stormwater / hydromodification requirements. The Final Map has been recorded. 9

10 PROPERTY INFO Improvement Costs: City Fees: Construction of Santo Domingo: $1,286,112 (click here to view bid) To grade the site: $558,020 (click here to view bid) Note: The grading is for the entire site including the commercial & industrial portions. Buyer may recieve credit for pro-rata share of these costs for grading adjacent properties. Approximately $45,941 per unit with school fees or Approximately $41,852 per unit with school CFD Unit Count: Affordable Housing: School District: 143 (106 3-story stacked flats, 24 3-story townhomes, & 13 detached single family condos) 15 Units - Either rental at 65% of AMI or for sale at 100% AMI Chula Vista Elementary School District & Sweetwater Union High School District Services: Water/Sewer City of San Diego Gas/Electricity SDG&E Fire San Diego Fire Dept. Police City of San Diego Police Department ASKING PRICE: $5,600,000 Westerly Ocean Views Pacific Ocean Point Loma San Diego Bay 10

11 DOCUMENT LINKS CLICK TO VIEW DOCUMENT LINKS I. FINAL MAP II. LANDSCAPE PLAN III. IV. PHASE I PHASE II V. PRELIMINARY TITLE REPORT (3/10/2016) VI. PROJECT PLANS (APPROVED) VII. SITE DEVELOPMENT PERMIT (APPROVED 12/1/2008) VIII. ZONING & DEVELOPMENT 11

12 UNIT MIX Parking Building # Type Unit Type # Units Beds Baths Sq Ft/Unit Total SF Garage Surface A Detached E ,977 25, A2.1 Garden Flats A ,958 Garden Flats B ,346 2,692 Garden Flats C , Garden Flats D ,400 A2.2 Garden Flats A ,958 Garden Flats B ,346 2,692 Garden Flats C , Garden Flats D ,400 A2.3 Garden Flats A ,937 Garden Flats C , A2.4 Garden Flats A ,937 Garden Flats C , A2.5 Garden Flats A ,958 Garden Flats B ,346 2,692 Garden Flats C , Garden Flats D ,400 A2.6 Garden Flats A ,958 Garden Flats B ,346 2,692 Garden Flats C , Garden Flats D ,400 A3.1 Townhouses A ,948 3,896 Townhouses B ,132 6, Townhouses C ,215 4,430 A3.2 Townhouses A ,948 1,948 Townhouses B ,132 2, Townhouses C ,215 4,430 A3.3 Townhouses A ,948 1,948 Townhouses B ,132 2, Townhouses C ,215 4,430 A3.4 Townhouses A ,948 5,844 Townhouses B ,132 8, Townhouses C ,215 4,430 Add'l Parking 0 5 Total *Note: Square footage summary above does not include decks, storage, or core. 12

13 Otay Mesa Area - San Diego Estimated Development Fees CITY FEES Per Average 1,217 SF Unit Item Quantity Total Amount Amount / Unit School Fees - Chula Vista Elementary ($1.48/SF)* 143 $ 257,566 $ 1,801 School Fees - Sweetwater High School ($1.88/SF)* 143 $ 327,178 $ 2,288 Facilities Benefit Assessment Fees (FBA) 143 $ 4,572,282 $ 31,974 Development Impact Fees (DIF)** 0 $ - $ - Regional Transportation Congestion Improvement Program (RTCIP)** 0 $ - $ - SDCWA - System Capacity Fee (3/4" Meter) 143 $ 377,520 $ 2,640 SDCWA - Water Treatment Capacity Fee 143 $ 9,594 $ 67 City of SD - Capacity Fee (Assumes.815 EDU per unit)*** 117 $ 356,499 $ 3,047 City of SD - Sewer Capacity Charge (Assumes.815 EDU per unit)*** 117 $ 482,508 $ 4,124 TOTAL PER UNIT WITH SCHOOL FEES $ 6,383,147 $ 45,941 TOTAL PER UNIT WITH SCHOOL CFD'S $ 5,798,403 $ 41,852 NOTES: * The project can potentially be annexed into the Chula Vista Elementary & Sweetwater Union High School District CFD #10. Housing Type Stacked Flats Townhomes Single Family CFD Designation APT-3 MFA-2 SFD-1 Chula Vista Elementary District CFD #10 - Fees are $/SF/Year $ $ $ Sweetwater Union High School District CFD #10 - Fees are $/SF/Year $ $ $ ** Project pays Facilities Benefit Assessment (FBA) in lieu of DIF & Otay Mesa is exempt from RTCIP. *** In the City of San Diego, a density break is given for higher density multi-family development which reduces the number of EDUs that pay capacity fees. 13

14 CFD MAP Vista Pacifica Ocean View Hills Edge Water Ocean View Village Greenfield Village 14

15 CLICK HERE TO VIEW TENTATIVE MAP TENTATIVE MAP 15

16 CLICK HERE TO VIEW FLOOR PLANS FLOOR PLANS 16

17 CLICK HERE TO VIEW ELEVATIONS ELEVATIONS 17

18 NEW HOME SALES COMPARABLES Project Builder Master Open Product Min Unit Max Unit Min Max Total Units Total Units Total Sales Zip Name Name City Plan Date Type Size Size Price Price Planned Sold Remaining Rate Code Flora at Escaya Brookfield Residential Chula Vista Escaya at Otay Ranch 9/16/2017 Attached 1,278 1,710 $361,000 $434, Vista Mar City Ventures Chula Vista - 6/24/2017 Attached 1,708 1,938 $446,490 $486, Lovina Heritage Building and Development Chula Vista Otay Ranch 3/25/2017 Attached 1,561 2,476 $420,900 $517, Metro Meridian Communities Chula Vista Millenia 8/13/2016 Attached 1,298 1,974 $390,990 $473, Trio Meridian Communities Chula Vista Millenia 8/13/2016 Attached 1,653 1,880 $445,900 $495, Evo Meridian Communities Chula Vista Millenia 8/13/2016 Attached 1,687 1,958 $428,900 $497, Tosara I & II Pacific Coast Communities Chula Vista Otay Ranch 8/23/2014 Attached 1,635 2,366 $394,900 $451, Parc Place Pacific Coast Communities Chula Vista Otay Ranch 3/25/2017 Attached 1,116 1,587 $357,900 $419, Z at Millenia Shea Homes Chula Vista Millenia 11/12/2016 Attached 1,288 1,475 $358,794 $435, Strata at Escaya Shea Homes Chula Vista Escaya at Otay Ranch 6/10/2017 Attached 1,407 1,736 $379,000 $441, Aviare Sunrise Company Chula Vista Otay Ranch 7/26/2014 Attached 1,098 1,928 $366,900 $453, Tesoro at Vista Del Sur Cornerstone Communities San Diego Vista Del Sur 10/7/2017 Attached 1,417 1,600 $351,990 $371, Maravilla at Vista Del Sur Cornerstone Communities San Diego Vista Del Sur 4/25/2015 Attached 1,334 1,686 $378,990 $432, Azul at Playa Del Sol Pardee Homes San Diego Ocean View Hills 12/17/2016 Attached 1,442 2,034 $401,000 $484, Luna at Playa Del Sol Pardee Homes San Diego Ocean View Hills 12/17/2016 Attached 1,643 2,069 $395,000 $540, Unobstructed Ocean View from OVV Pacific Ocean Point Loma San Diego Bay NATURAL OPEN SPACE NEVER TO BE BUILT ON 18

19 RESALE HOME COMPARABLES CMA Summary Report RESIDENTIAL Summary Statistics High Low Average Median LP:$446,800 $361,990 $402,511 $394,000 SP:$450,000 $368,774 $403,669 $404,964 RESIDENTIAL - Sold Number of Properties: 13 Num MLS # Status Style FllAdd ZipArea Beds TotB COEDate LotSFApx EstSF DOM LP PrcSqft SP PrcSqft SOLD TOWNH 5417 San Virgilio OTAY MESA (92154) 3 3 2/21/2018 1,486 4 $361,990 $ $368,774 $ SOLD ATT 1737 SAN JOVANI OTAY MESA (92154) /27/2017 1,334 7 $372,990 $ $372,990 $ SOLD ATT 5474 SANTA ALICIA OTAY MESA (92154) /27/2017 1, $374,990 $ $374,990 $ SOLD ATT 5428 Santa Alicia OTAY MESA (92154) /13/2017 1,334 9 $380,000 $ $385,000 $ SOLD TOWNH 5442 SANTA ALICIA OTAY MESA (92154) 3 3 9/18/2017 1,505 8 $393,990 $ $404,964 $ SOLD TOWNH 5425 Santa Sofia OTAY MESA (92154) /17/2017 1, $394,000 $ $394,000 $ SOLD TOWNH 5401 San Roberto OTAY MESA (92154) /6/2017 1, $394,000 $ $400,000 $ SOLD TOWNH 1741 SAN JOVANI OTAY MESA (92154) 3 3 1/8/2018 1, $407,990 $ $407,990 $ SOLD ATT 1780 Saltaire Pl 14 OTAY MESA (92154) /17/2017 1, $399,900 - $414,900 $ $409,000 $ SOLD ATT 1790 Saltaire Pl 18 OTAY MESA (92154) /3/2017 1, $399,000 - $415,000 $ $408,000 $ SOLD ATT 5426 Santa Alicia OTAY MESA (92154) /21/2017 1, $419,900 - $437,000 $ $437,000 $ SOLD ATT 5413 Santa Sofia OTAY MESA (92154) 3 3 1/31/2018 1,686 6 $439,000 $ $435,000 $ SOLD ATT 5509 Santa Alicia OTAY MESA (92154) /19/2017 1, $446,800 $ $450,000 $ Avg $402,512 $ $403,670 $ Min $361,990 $ $368,774 $ Max $446,800 $ $450,000 $ Med $394,000 $ $404,964 $

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