LAND FOR SALE
LAKE MING & KERN RIVER
GOLF COURSE
MASTERSON STREET
BAKERSFIELD
EAST HILLS MALL
MIRAMONTE DR.
CITY IN THE HILLS
(ACTIVE DEVELOPMENT)
PALADINO DR.
COMANCHE DR.
BAKERSFIELD
COLLEGE
RIO BRAVO
GOLF & TENNIS
CLUB
BAKERSFIELD
COUNTRY CLUB
BRECKENRIDGE RD.
NWC MIRAMONTE DRIVE & HIGHWAY178
BAKERSFIELD, CA
± 92.9 ACRES
 Proposed 364 Residential Lots
 $ 5,500,000
 NWC Miramonte Drive & Highway 178
 Adjacent to Rio Bravo Golf & Tennis Club
JEFFREY T. ANDREW
Senior Director/Principal
Lic. 00941323
661.633.3827
[email protected]
Broker Lic. 01919464
5060 California Avenue
Suite 1000
Bakersfield, CA 93309
www.paccra.com
© 2013 Paccom Realty Advisors, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it.
Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct
a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
± 92.9 ACRES • BAKERSFIELD, CA
MC MILLIAN HOMES
44.6 ACRES
PALADINO DR.
MIRAMONTE DR.
48.2 ACRES
RIO BRAVO
GOLF & TENNIS
CLUB
PULTE HOMES
SUMMARY
The property presents an opportunity to purchase on a bulk basis, approximately 364 residential lots with a tentative
tract map on ±92.9 acres of land in Bakersfield, California. The property is ideally located in the northeast quadrant
of Bakersfield, approximately 6 miles northeast of the downtown civic center area near City in the Hills, a master
planned community with new housing tracts being constructed by a number of national and local builders. With its
proximity to Highway 178 and other recreation facilities including Lake Ming and Rio Bravo Golf & Tennis Club, this
is one of the best located properties in a dynamic growth area of Bakersfield. At the offering price, the property
allows an investor to build affordable housing in an upscale area of Bakersfield near many amenities.
INVESTMENT HIGHLIGHTS
 This site and the market lend themselves to traditional, medium-density detached product, which is the strength of
the Bakersfield North East Market. Close to many amenities such as the Kern River Community Golf Course, Rio
Bravo Country Club and Lake Ming recreation area, this subdivision will offer attractive features to potential home
buyers.
 The property has great views of the City of Bakersfield as well as the Kern River Canyon because of is elevated
topography. The higher elevations and rolling hills provide view amenity lots and its own micro-climate. The area
is less susceptible to fog and freezing weather compared to the other sectors of the City.
 The City of Bakersfield and Cal Trans are currently spending millions of dollars to upgrade Highway 178 from
central Bakersfield to the northeast part of Bakersfield into the Kern River Canyon area. This will allow even
greater access to the property and the potential for future commercial developments with close proximity to the
property.
JEFFREY T. ANDREW
Senior Director/Principal
Lic. 00941323
661.633.3827
[email protected]
Broker Lic. 01919464
5060 California Avenue
Suite 1000
Bakersfield, CA 93309
www.paccra.com
© 2013 Paccom Realty Advisors, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it.
Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct
a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
± 92.9 ACRES • BAKERSFIELD, CA
LOCATION
Bakersfield has been one of the fastest growing metropolitan areas in the western U.S. with 18.5% growth over the past 5 years. The
City is located close enough to Los Angeles (two hours south) to be considered a bedroom community to Southern California. The
property’s neighborhood, known as City in the Hills, is located in the northeast quadrant of Bakersfield, approximately 6 miles
northeast of the downtown civic center area. City in the Hills is a master planned community located north of Highway 178, where new
housing tracts are being constructed by a number of national and local builders. Active housing projects are located around Kern River
Golf Course and Lake Ming in the north-easterly portion of the neighborhood and around the Rio Bravo Ranch Golf and Tennis Club,
a gated community in the eastern portion of the area. The newer developments consist of mostly upscale subdivisions in planned
communities. Existing improvements in the central and southern sectors of the described neighborhood are primarily single-family
developments with subdivisions that were built in the 1970’s and 1980’s. Bakersfield Country Club is located about 2 miles west of the
neighborhood and is improved with mature neighborhoods of upscale housing surrounding the golf course. Commercial land uses are
generally along the major intersections and multi-family housing buffers commercial uses from the single-family residential tracts.
SIZE ±364 Lots – 92 acres
APN’S 386-050-09 & 387-020-18
TENTATIVE TRACT MAP # 6182
Direct Levies and Special Assessments:
Tax Rate
Tax on Net Value
1.00 %
KCW A ZN 17 & 19 DEBT
0.02062 %
BKFDL RFND 89C&D
0.017301 %
BKFDL SCH 93 RDF & 2006-A
0.039530 %
KHS REFUNDING 96A
0.013613 %
KHS HIGH 1990E,2004A, 2004B, 2004C
0.22219 %
KCCD SRID 2002A, 02ARFD, 2002B
0.009053 %
T otal
1.122331 %
 HISTORY/STATUS The property was originally purchased by a local
area builder with the intention to develop single family homes under
the name of Monte Carlo LLC. The Developer processed a Tentative
Tract Map (#6182) with the City of Bakersfield and attained all of the
approvals for the subdivision in September of 2006. The map expires
on September 5, 2014 and is eligible for an additional 7 years
extension if extension is renewed prior to 60 days of expiration date.
The Developer was in the process of completing drawings and plans
for a Final Tract Map when the residential housing market slowed
due to the recession.
 WATER The property is within the service area of the California
Water Service District (CAL Water).
 SEWER The City of Bakersfield will provide wastewater collection
and treatment for the plan area at the wastewater treatment plant
located approximately two miles west of the Property.
 DRY UTILITIES Natural gas and electricity will be supplied to the
specific plan area by the Pacific Gas and Electric Company (PG&E).
Water, gas and sewer are located at the subject’s frontage along
Highway 178 and are being installed at Paladino Drive. Utilities can
be connected to the Property along these streets.
 GENERAL PLAN The City of Bakersfield LMR – Low to Medium
Density Residential developments.
 ZONING According to the Bakersfield Planning Department, the
subject is currently zoned R-1. The R-1 zoning designation allows
single-family residential land uses, with a minimum lot size of 6,000
square feet for each dwelling unit.
PARCEL MAP
JEFFREY T. ANDREW
Senior Director/Principal
Lic. 00941323
661.633.3827
[email protected]
Broker Lic. 01919464
5060 California Avenue
Suite 1000
Bakersfield, CA 93309
www.paccra.com
© 2013 Paccom Realty Advisors, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it.
Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct
a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
± 92.9 ACRES • BAKERSFIELD, CA
DEMOGRAPHIC REPORT
JEFFREY T. ANDREW
Senior Director/Principal
Lic. 00941323
661.633.3827
[email protected]
Broker Lic. 01919464
5060 California Avenue
Suite 1000
Bakersfield, CA 93309
www.paccra.com
© 2013 Paccom Realty Advisors, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it.
Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct
a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.