APPROVED DEVELOPMENT SITE 801 PEARL STREET LA JOLLA, CA 92037
EXECUTIVE SUMMARY PROPERTY DETAILS PLANS MLS SALE COMPS FEE SCHEDULE SALES PROCESS DUE DILIGENCE This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage, condition, or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 4660 La Jolla Village Drive, Suite 100
Colliers International is pleased to offer a fully entitled development site at 801 Pearl St in La Jolla, CA. Located in the heart of the Village, the property is within walking distance to all the interesting, shops, cafes and restaurants that make La Jolla one of San Diego s most desirable areas. Within several blocks are key neighborhood amenities like, Vons Grocery, CVS Drugstore, Public Library, Post Office, neighborhood retail, all major Banks and the beautiful parks along the coast. La Jolla schools consistently rank in the top five public schools in San Diego with La Jolla Elementary, Muirlands Middle School and La Jolla High School just blocks from the property. Cultural and entertainment options in the Village include a brand new multiplex Cinema (The Lot), the La Jolla Museum of Contemporary Art, the Athenaeum, the La Jolla Playhouse and a new La Jolla Symphony venue is currently under construction. Outdoor activities often center around famous local beaches like La Jolla Cove, WindanSea Beach and La Jolla Shores. Golf and tennis enthusiasts can enjoy the La Jolla Beach & Tennis Club and the renowned Torrey Pines Golf Course. The project at 801 Pearl Street has been approved by the La Jolla Community Planning Group and the City of San Diego Planning Commission. The project mix contains 12 homes (9 townhomes & 3 flats) along with 5,300 sf of retail suites over 37 parking spaces. High-end Coastal areas like La Jolla have shown tremendous demand and pricing strength relative to other areas. With limited new inventory, excellent demographics and top amenities all make 801 Pearl Street an excellent development opportunity. OFFER DATE: TUESDAY, OCTOBER 25, 2016 4660 La Jolla Village Drive, Suite 100
ASKING PRICE: $4,995,000 ADDRESS 801 Pearl Street & APN: La Jolla, CA 92037 APN: 350-611-01 LAND AREA: ENTITLEMENTS: PUBLIC SCHOOLS: 20,980 SF Planning Commission Approval La Jolla Elementary - 980 API Muirlands Middle School - 901 API La Jolla High School - 866 API RESIDENTIAL SUMMARY (2) - 1 BEDROOM / 1.5 BATHS (5) - 2 BEDROOM / 2 BATHS (5) - 3 BEDROOM / 2.5 BATHS FLAT #1...792 SF 1 Bed FLAT #2...970 SF 1 Bed TOWNHOME #3...1,010 SF 2 Bed TOWNHOME #4...1,180 SF 2 Bed TOWNHOME #5...1,730 SF 3 Bed TOWNHOME #6...1,730 SF 3 Bed TOWNHOME #7...1,600 SF 2 Bed TOWNHOME #8...1,600 SF 2 Bed TOWNHOME #9...1,600 SF 2 Bed TOWNHOME #10...1,800 SF 3 Bed TOWNHOME #11...1,800 SF 3 Bed FLAT #12...2,274 SF 3 Bed Total Residential SF: 18,086 SF COMMERCIAL SUMMARY RETAIL SPACE...5,340 SF (Divisible into four spaces) PARKING SUMMARY RETAIL: 5,340 SF x 1.7/1,000 SF RESIDENTIAL: 1 BED FLATS - 2 Units x 1.25 Spaces 2 BED TOWNHOMES - 5 Units x 1.75 Spaces 3 BED FLAT/TH S - 5 Units x 2.25 Spaces MOTORCYCLE SPACES - 2 Spaces BICYCLE SPACES - 7 Spaces Required Parking Spaces 32 Spaces Provided Parking Spaces 37 Spaces 4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
20. Museum of Contemporary Art S AMENITIES MAP RD S NE PI LN ET OL VE ES A ARD GIR VE E A 801 PEARL STREET PE A R L ST BANKS BANKS 1. George s 23. First Citizens Bank 2. Eddie V s 24. Bank of America 3. Restaurant 910 25. Wells Fargo Bank 4. Brockton Villa 26. U.S. Bank 5. El Pescador 27. Chase Bank 6. Harry s Coffee Shop 28. City National Bank 7. The Cottage La Jolla 29. Union Bank 8. Puesto Mexican 30. Regents Bank 9. Herringbone La Jolla Country Club LA S ST RETAIL RETAIL S BREWERIES BREWERIES 32. Gap 11. La Jolla Brewing Company 33. Ralph Lauren 12. Karl Strauss Brewing Company 34. Sur La Table 13. La Jolla Tap & Grill 35. Vons HOTELS HOTELS 36. BevMo! 37. Ferrari of San Diego 14. La Jolla Cove Suites 38. Bentley La Jolla 15. La Valencia Hotel M 40. 24 Hour Fitness O U N TA 41. Maserati of San Diego I 18. La Jolla Inn ENTERTAINMENT ENTERTAINMENT & ARTS & ARTS 19. The LOT Movie Theatre 20. Museum of Contemporary Art San Diego 21. Anthenaeum Music & Arts Library 22. La Jolla Music Society The Conrad 43. Reebok RD 42. Lululemon Athletica N O L L A B LV D LA J 17. Grand Colonial La Jolla 39. CVS D 16. Inn by the Sea at La Jolla EDA NA U T I L U ST 31. Brooks Brothers SOL T I LU RESTAURANTS RESTAURANTS 10. Prepkitchen La Jolla FAY L ST PE A R AV E EAD PR Bishop s School N AU 22. La Jolla Music Society The C IV TO OS PE CT RR S EY T VD A BL J O LL PACIFIC OCE AN La Jolla Cove 21. Anthenaeum Music & Arts Libra
DEMOGRAPHICS 2015 Income 1 Mile Ring 3 Mile Ring 5 Mile Ring Average Household Income $155,834 $168,041 $146,798 Median Household Income $98,438 $105,486 $94,593 Income $150,000 + 29.9% 33.4% 28.8% Income $125,000 - $149,999 7.6% 7.8% 7.5% Income $100,000 - $124,999 11.9% 11.5% 11.2% Income $ 75,000 - $99,999 10.1% 11.2% 12.0% Income $ 50,000 - $74,999 13.1% 12.0% 13.1% Income $ 35,000 - $49,999 8.5% 7.8% 9.3% Income $ 25,000 - $34,999 5.1% 5.1% 5.8% Income $ 15,000 - $24,999 7.5% 5.8% 5.8% Income $ 10,000 - $14,999 2.9% 2.3% 2.6% Income $ 0 - $9,999 3.5% 3.2% 4.0% 3 MILES 2 MILES 1 MILE Households Family Households 81.5% 81.5% 75.3% Non-family Households 18.5% 18.5% 24.7% Total Daytime Population 20,781 33,559 51,007 Civilian 16+, at Workplace 11,734 17,608 24,360 Civilian 16+, Unemployed 282 569 1,466 Civilian 16+, Work at home 744 1,823 3,015 Educational Attainment Graduate Degree 33.1% 36.9% 33.9% Bachelor's Degree 34.7% 34.4% 36.7% Associates Degree 5.0% 3.8% 4.1%
4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
4660 La Jolla Village Drive, Suite 100
Fee Per Unit Avg. 1,507 ATT Homes RTCIP 2016 MDU $2,153.00 DIF (2016 - La Jolla) $5,396.00 School Fees - SD Unified ($3.20 sq. ft.) $4,822.40 Affordable Housing ($9.51 sq. ft.) $14,331.57 Water Fee ($3,047 per EDU) $2,529.01 * Sewer ($4,124 per EDU) $3,422.92 * SDCWA 3/4" Meter $4,963.00 TOTAL FEES $37,617.90 Assumptions: 12 attached units with an average of 1,507 sq. ft. and a total site area of 20,980 (apx. 24 du/ac) Fee 5,340 SF Commercial Unit RTCIP 2016 Retail ($0.85 sq. ft.) $4,539.00 Transportation (DIF) ($192.00 ADT) Fire (DIF) ($167.00 per 1,000 sq. ft.) $891.78 School Fees - SD Unified ($0.51 sq. ft.) $2,723.40 Affordable Housing N/A Water Fee ($3,047 per EDU) $3,047.00 Sewer ($4,124 per EDU) $4,124.00 SDCWA 3/4" Meter $4,963.00 TOTAL FEES $20,288.18 Assumptions: Retail space of 5,340 sq. ft. fed by one ¾ meter * 25 units/ac = 0.83 4660 La Jolla Village Drive, Suite 100
OFFER DATE: Tuesday, October 25, 2016 ASKING PRICE: $4,995,000 OFFERS: Victor Krebs Colliers International 4660 La Jolla Village Drive, Suite 100 (858) 677-5334 victor.krebs@colliers.com 4660 La Jolla Village Drive, Suite 100
Development Permit (SDP & CDP) Tentative Map Phase 1 Environmental Report Phase 2 Environmental Report UST Removal & PMP Plan Geotechnical Report Traffic Study ALTA Survey Acoustical Report Comps 801 Pearl St - Plans - 1-11-16 - (color) 4660 La Jolla Village Drive, Suite 100