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            The golf course, Phase I, as it once appeared at the northeast corner of Kearney Blvd. and Marks Ave., 1 block west of subject property. 

Address:  2026 S. Hughes Avenue Fresno, Ca. 93706

Assessors Parcel Number (APN):  464-060-17

Site Location:  SW Fresno. Located at the SW corner of Kearney Boulevard and Hughes Ave., between Kearney Boulevard at the north boundary and California Avenue at the south boundary.  Apprx. 2 miles south of the new freeway 180 interchange. West of Highway 99.

Municipality: City of Fresno, County of Fresno, State of California, United States of America

Zoning Description: R-1 CUP (Conditional Use Permit). Notwithstanding the CUP, which requires golf course development, and a minor amount of commercial development, i.e. a wedding grounds near the proposed clubhouse, apprx. 148 Single Family Residential units will be allowed for development and sale, without completion of the golf course. Note:  each phase of the 3 phases of golf course development are independent  of one another.  Phase 1 has a Final and is ready for submission, Phase II and III have tentative maps.

SIZE: 67.47 Acres/2,938,993.20 sf

Lot Dimensions: Apprx. 1,286’ x 2,531’

Note: There is a 1.65 acre parcel, APN 464-060-11, separately owned, with the owner expressing a willingness to sell, that set’s contiguously within the upper center portion of subject property. The FID (Fresno Irrigation District) canal also runs through the north upper portion of subject.

Latitude:    N 36 degrees 43’ 26.8352"     Longitude:  W 119 degrees 50’ 20.3856"

Formation:   Rectangular

Topography:  Predominantly flat with hills from excavated dirt taken on site for purpose of the lake formation, excavated lake approximately 305 feet by 1,055 feet.

Easement: FID (Fresno Irrigation District) canal flowing through upper NW corner of property. The FID has given water rights for this property to utilize x amount of board feet of water to feed the lake.

School District: Central Unified School District

Schools:       Central High School (West Campus)

PRICE:    $995,000.

TERMS:   Cash, Seller Financing, Submit.

There is a Tentative Parcel Map, Tract No. 5350/5533, that allows for the construction of 258 single family residences. Said tract no. …5533 is considered Phase II of the Running Horse Golf Course and is named "Masters." Said TPM will expire in January 2012, though under certain conditions, an extension can be granted. Boundary's for Phase II are Kearney/North, California south, Hughes/East, Marks/West.

LAKESIDE COMMUNITY - The property has been excavated for lake’s, i.e. the north excavation has approx. dimensions of 305’ x 1,055’ with the irrigation pipes having been installed. The excavation is such that allows for single family residences to be built around it, creating a unique lakeside appeal for the subdivision. Some of the most successful residential subdivisions built in Fresno—Woodward Lake, Quail Lakes, Lake Van Ness—have been designed to include lakes.

The 67.47 acres comprising subject property sets upon approximately 1/2 of the land between Hughes and Marks between Kearney Boulevard on the north and California Avenue on the south.  The remaining approximately 1/2 of that land area is parceled as follows:

Additional land available for purchase - The 38.22 acres of land contiguous to subject is owned by the FID (Fresno Irrigation District) and is part of an exchange process with owner La Jolla Loans Inc. wherein FID’S 4 parcels can be exchanged for La Jolla’s 40.27 acre parcel on the northeast corner (NEC) of Church and Valentine. This exchange will free up the 38.22 acres of FID land allowing for further development of Phase II with single family residences. The remaining portion of land, which will allow for completion of Phase II, consists of 18.27 acres at the Southeast corner of Marks and Kearney, owned by La Jolla Loans and currently on the market for sale; two privately owned properties consisting of 17.25 acres at the Northeast Corner of Marks and California and 1.65 acres contiguous to the north/center portion of subject property. Both private owners have expressed a willingness to sell their individual parcels.

There is a 15 acre parcel near Phase I in which the owner has indicated a desire  to sell.

Information regarding itemization of development/impact fee's are available upon request.

SITES IN THE VICINITY – Grounding breaking just occurred in May of 2010 for the new Veterans Home, a 300 bed, Class A construction facility that is projected for completion in the spring of 2012. The vet site is south on California Ave., across the street from subject property and a few feet to the west. Nearby also, to the east on Kearney blvd., is the chandler downtown executive airport. To the west on Kearney Blvd., is Kearney Park with the famed Kearney Mansion, named after Theodore Kearney, an agriculture and land magnate of early 20^th century Fresno. One block to the west, on the (NWC) northwest corner of Kearney and Marks is the attractive newer 58 lot residential subdivision, Tract No. 5206, which represented the initial stage for residential development for running horse, with homes in the final stage having been built in 2006.

CAPITAL DYNAMICS COMMERCIAL REAL ESTATE BROKERAGE KEN JELLADIAN, CCIM, BROKER PH. (559) 277-3446 FAX (559) 277-3355  

kjelladian@cfaith.com    www.capitaldynamicsre.com

DISCLAIMER: The information contained herein is information provided from sources deemed reliable, however, we do not guarantee any of the information and advise that all information should be independently  verified.

SITE PHOTO'S

2026 S. HUGHES AVE. FRESNO, CA. 93706

                                                                   SITES IN THE VICINITY

INITIAL RUNNING HORSE SUBDIVISION

1 BLOCK WEST OF SUBJECT PROPERTY

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FOR ACCESS TO AERIAL, TOPOGRAPHICAL, AREA AND FLOOD MAPS, PLEASE GO TO THE LINK BELOW:

MAPS

Development fee's will be updated to real time fee's/costs at time of payment to the city of Fresno. By vested right, a new type of fee cannot be added if paid by January, 2012. The amount of fee's and development costs to develop Phase II can be approximately ascertained by analyzing said fee's and costs from Phase I.  phase 1has a final map and is ready to be recorded upon payment of the necessary fee's.  Said fee's for the development of Phase II or III will vary according to the varying impact from the level of each construction phase.   A copy of estimated Development costs and fee's for phase i can be obtained upon request.

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THE LAND, COLORED IN RED, AT THE NORTHEAST CORNER OF CHURCH AND VALENTINE, ONE BLOCK WEST OF PHASE III AT CHURCH AND MARKS, OWNED BY LA JOLLA LOANS, IS IN THE PROCESS OF BEING EXCHANGED FOR THE LAND OWNED BY THE FRESNO IRRIGATION DISTRICT, COLORED IN COBALT BLUE, CONTIGUOUS TO SCRIPPS 67.47 ACRES.

                                                                                                                                                                                                                                           FRESNO - GATEWAY TO YOSEMITE