THE OLSEN RANCH Paso Robles, California 600+ UNIT PLANNED COMMUNITY DEVELOPMENT OPPORTUNITY << Click to View Aerial Tour >>
OLSEN RANCH TABLE OF CONTENTS OFFERING OVERVIEW... 3 PROPERTY PHOTOS...10 MAPS HIGH AERIAL... 4 LOW AERIAL... 5 SPECIFIC PLAN OVERLAY... 6 PARCEL MAP... 7 NEIGHBORHOOD DENSITY & EXISTING CONSTRAINTS... 8 CITY MAP... 9 PASO ROBLES OVERVIEW CITY OVERVIEW... 11 PASO ROBLES BUILDING SUMMARY... 12 POPULATION DEMOGRAPHICS... 13 HOUSING DEMOGRAPHICS... 14 CITY OF PASO ROBLES HOUSING TRENDS... 15 GREATER PASO ROBLES HOUSING TRENDS... 16
OLSEN RANCH OFFERING OVERVIEW 3 Offering Price: $22,000,000 Project Size: APN s: Number of Lots: Overview +/-212.88 Acres 009-795-001 (32.05 Acres) 009-795-002 (27.62 Acres) 009-795-003 (12.97 Acres) 009-795-006 (140.24 Acres) Estimated up to 600 units This prime property is located on the east side of Paso Robles, adjacent to existing residential developments and rolling vineyards. The property is part of the Olsen Ranch Specific Plan along with two adjacent land owners. The project will allow for 673 units with approximately 600 designated for the Olsen property. The site is suitable for various product types from attached housing to large estate lots. There is water, sewer and dry utilities adjacent on the west side of the property. The site is in a raw state with existing 3 homes and 2 wells. Entitlement Summary The Olsen Ranch Development area was annexed to the City of Paso Robles in 2003. The City contracted Moule & Polyzoides to create a specific plan and EIR for the properties which was completed in late 2007. The city then conducted a traffic study which was completed in 2009. The city will allow for the proposed density or may allow for additional density depending on the plan. They will require some reimbursement for the planning the city had already completed. Project Highlights: Paso Robles is one of the fastest growing cities within San Luis Obispo county and has a strong need for new housing stock to meet this growing market demand. One of only a few developable properties in the city limits. Water constraints within the bordering areas limit development. Olsen Ranch is within the city limits and has access to city water. City is pro development and looking for residential development to meet needed housing stock. Available Due Diligence Materials: Terms Draft Specific Plan for Beechwood and Olsen Ranch 2007 EIR 2009 City Traffic Study Seller will entertain various options including seller financing, a staged take-down, purchase option or sale of only the south portion of the ranch. All offers will be evaluated to see if they meet price expectations, risk profile and needs of the seller. Buyer Profile The Seller is seeking a buyer who can demonstrate proof of equity capital to complete purchase, a development vision, ability to process entitlements and proven track record.
OLSEN RANCH HIGH AERIAL 4
OLSEN RANCH LOW AERIAL 5
OLSEN RANCH 2007 SPECIFIC PLAN OVERLAY Hart Commercial Real Estate 236 West Grand Ave Grover Beach, CA 93433 6 www.hartcre.com
OLSEN RANCH PARCEL MAP 7 NOT A PART
OLSEN RANCH NEIGHBORHOOD DENSITY & EXISTING CONSTRAINTS 8 NEIGHBORHOOD DENSITY EXISTING CONSTRAINTS OLSEN RANCH Olsen Ranch 670 Beechwood 671 Neighborhood 1 179 Neighborhood 2 88 Neighborhood 3 212 Neighborhood 4 415 Total 2,235 Riparian Corridor 50' Buffer Agricultural Buffer PG&E Easement
OLSEN RANCH PASO ROBLES CITY MAP 9
OLSEN RANCH PROPERTY PHOTOS 10
OLSEN RANCH PASO ROBLES CITY OVERVIEW 11 About Paso Robles Paso Robles is located on the Salinas River north of San Luis Obispo, California. The city is known for its hot springs, its abundance of wineries, production of olive oil, almond orchards, and for playing host to the California Mid-State Fair. Paso Robles is located at approximately halfway between the cities of Los Angeles and San Francisco. Paso Robles is where the region of Southern California ends. The elevation of Paso Robles ranges from 675 to 1,100 feet, but the majority of the main downtown area of the city sits at about 740 feet above sea level. According to the United States Census Bureau, the Paso Robles city limits contain a total land area of 19.4 sq miles, The topography of the area consists of gentle rolling hills on the eastern half of the city, and foothill peaks which rise in elevation to the Santa Lucia Coastal Range on the west, which are all blanketed in the Californian chaparral environment, which is mainly dry grassland and oak woodland. Simply "Paso," as it is referred to by locals, sits on the eastern foothills of the Santa Lucia Coastal Mountain Range, which lies directly to the West of the city, and runs in a North-South direction, starting at Monterey, then runs down South to its terminus, in the San Luis Obispo area. The city is located at the southern end of the fertile Salinas River Valley, which is centered in between the Temblor Range, which lie about 28 miles to the East, and the Santa Lucia Coastal Range, which lie directly west, rising up from the city's western border. Paso Robles sits at the border where northern San Luis Obispo County and southern Monterey County meet, and is situated roughly 24 miles, or 20 minutes, inland from the Pacific Ocean. Paso Robles as a wine region has been gaining in popularity in recent years with a number of accolades, including being named Wine Enthusiast Magazine s 2013 Wine Region of the Year. The Paso Robles American Viticultural Appellation (AVA) is home to more than 200 wineries and 32,000 vineyard acres focusing on premium wine production. The distinct microclimates and diverse soils, combined with warm days and cool nights, make growing conditions ideal for producing more than 40 wine varietals from Cabernet Sauvignon and Merlot, to Syrah, Viognier and Roussanne, to Zinfandel, the area s heritage wine variety.
OLSEN RANCH PASO ROBLES BUILDING SUMMARY 12 CITY OF EL PASO DE ROBLES 16-YEAR BUILDING SUMMARY JANUARY 2000 - DECEMBER 2015 RESIDENTIAL DWELLING RESIDENTIAL COMM/IND COMM/IND *OTHER OTHER TOTAL TOTAL YEAR PERMITS UNITS VALUATION PERMITS VALUATION PERMITS VALUATION PERMITS VALUATION 2000 372 385 $ 55,162,656 17 $ 17,347,070 413 $ 6,090,220 802 $ 78,599,946 2001 421 428 $ 63,360,187 22 $ 7,604,684 431 $ 5,861,699 874 $ 76,826,570 2002 307 315 $ 48,310,962 25 $ 12,520,398 476 $ 7,804,021 808 $ 68,635,381 2003 417 461 $ 82,123,370 24 $ 8,715,409 511 $ 9,519,033 952 $ 100,357,812 2004 436 512 $ 107,443,800 27 $ 12,659,746 644 $ 11,637,308 1107 $ 131,740,854 2005 287 371 $ 66,901,128 39 $ 25,522,289 646 $ 11,719,602 972 $ 104,143,019 2006 181 241 $ 44,497,006 36 $ 25,341,177 730 $ 16,039,114 947 $ 85,877,297 2007 45 46 $ 11,378,474 27 $ 14,645,607 582 $ 17,236,018 654 $ 43,260,099 2008 24 24 $ 5,836,341 20 $ 12,171,302 463 $ 8,678,929 507 $ 26,686,572 2009 34 35 $ 8,643,353 9 $ 14,578,801 389 $ 7,625,814 432 $ 30,847,968 2010 14 94 $ 10,642,873 8 $ 19,636,095 402 $ 8,175,356 424 $ 38,454,324 2011 43 44 $ 11,880,618 3 $ 2,285,874 387 $ 16,759,463 433 $ 30,925,955 2012 40 44 $ 11,582,025 8 $12,226,511 526 $ 16,138,369 574 $ 39,946,905 2013 62 128 $ 26,109,030 9 $17,865,083 666 $ 35,905,144 737 $ 79,879,257 2014 39 39 $ 11,357,185 13 $5,944,336 633 $ 16,380,874 685 $ 33,682,396 2015 76 153 $ 28,414,112 13 $14,158,247 937 $ 17,988,857 1026 $ 60,561,215 *Other Permits include new airport hangars, residential accessory buildings; additions, repairs and alterations to residential, commercial or industrial buildings, solar permits; plus other miscellaneous permits issued which are not included in the above categories.
OLSEN RANCH PASO ROBLES POPULATION DEMOGRAPHIC SUMMARY 13 Radius 1 Mile 3 Mile 5 Mile Population: 2020 Projection 7,845 27,161 39,372 2015 Estimate 7,535 25,971 37,843 2010 Census 7,245 24,465 36,487 Growth 2015-2020 4.11% 4.58% 4.04% Growth 2010-2015 4.00% 6.16% 3.72% 2015 Population by Race: White 6,844 23,514 34,350 Black 165 530 780 Am. Indian & Alaskan 101 379 576 Asian 190 665 855 Haw aiian & Pacific I sland 9 59 86 Other 226 823 1,196 U.S. Armed Forces 17 75 142 Households: 2020 Projection 2,843 9,913 14,496 2015 Estimate 2,727 9,468 13,915 2010 Census 2,610 8,898 13,383 Growth 2015-2020 4.25% 4.70% 4.18% Growth 2010-2015 4.48% 6.41% 3.98% Ow ner Occupied 1,963 6,246 8,728 Renter Occupied 764 3,221 5,187 2015 Avg Household Income $77,121 $79,221 $78,962
OLSEN RANCH PASO ROBLES HOUSING DEMOGRAPHIC SUMMARY 14 PASO ROBLES INFORMATION POPULATI ON 31,287 NUMBER OF HOMES AND APARTMENTS 10,833 TYPE OF PASO ROBLES HOMES SI NGLE FAMI LY DETACHED 68.52% ROWHOUSES AND ATTACHED HOMES 5.41% SMALL APARTMENT BUI LDI NGS 10.35% COMPLEXES OR HI GH RI SE APARTMENTS 12.24% MOBI LE HOMES 3.49% OTHER 0.00% AGE OF PASO ROBLES HOMES NEWER HOMES (2000 OR LATER) 29.80% ESTABLI SHED, BUT NOT OLD HOMES (1970-1999) 52.59% WELL-ESTABLISHED, OLD HOMES (1940-1969) 13.96% HISTORIC (1939 OR BEFORE) 3.65% PASO ROBLES REAL ESTATE INFORMATION DETAILS MEDI AN HOME VALUE $450,290 HOME VALUE RANGE $0 - $65,000 3.44% $65,001 - $130,000 0.21% $130,001 - $259,000 7.55% $259,001 - $389,000 25.05% $389,001 - $519,000 29.12% $519,001 - $648,000 22.09% $648,001 - $973,000 11.10% $973,001 - $1,297,000 0.54% > $1,297,000 0.9
OLSEN RANCH CITY OF PASO ROBLES HOUSING TRENDS 15
OLSEN RANCH GREATER PASO ROBLES HOUSING TRENDS 16