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Location Map

ATTENTION INVESTORS!

Increasing Long Term Positive Lease Income
Within Master Plan Community

 

LOCATION:	The positive income stream generated from, and the Master Lessee's right, title and interest in, a certain Bureau of Indian Affairs ("BIA") Business Lease ending in 2071 ("Business Lease"). The Business Lease underlies the exclusive guard gated master plan community of Rio del Sol in one of the nicest areas of Cathedral City, CA ("Project"). 300+/- units exist in the Project which is planned for 500+/- units. Conceptually, this is a business opportunity that functions like an annuity. The Seller's ("Master Lessee") 2010 Net Income was $80,000+/- based on about $400,000 of gross income. Gross and Net Income will grow as additional homes are added to the rent roll stabilizing at 45% of gross income for the Master Lessee. Seller also owns 177 SFD finished and partially finished lots ("177 Lots") in the Project; separate listing information is available upon request. Seller prefers to sell both the 177 Lots and this asset to the same buyer.
ASKING PRICE:	No stated Asking Price for this Leasehold interest. Make your best all cash offer based on buyer's own independent analysis, projections and underwriting methods.
MASTER GROUND LEASE:	Bureau of Indian Affairs Business Lease PSL-239, presently terminates January 8, 2071.
GROSS INCOME:	Revenue is generated from each homeowner paying their monthly sub-lease payment. The Rent Roll presently shows 295 homes generating projected Gross Income of $32,700 per month or $392,400 per year. Adding the Seller's 177 Lots to the Rent Roll would increase the Gross Revenue by more than 50%. Every 5 years a Consumer Price Index adjustment not to exceed 25% ("CPI") is applied to the sub-leases.
INCOME PROJECTIONS:	The Gross and Net Lease Income are scheduled to increase! Buyers must use their own independent underwriting assumptions and calculations to determine income projections and offers. Seller makes no warranties or representations whatsoever concerning the accuracy or completeness of the information contained herein.
THE PROJECT :	The Project is located on Gerald Ford Road, just east of Date Palm Drive, Cathedral City, CA. The lush landscaping sets off the Project's manned guard gate; and the lake/fountain, community pool/clubhouse and tennis courts amenities make a great Project entry.
OFFERS/COMMENTS:	This property is lender owned and sold "As-Is, Where-Is." Please follow the below steps for submitting offers: Submit letter of intent at the earliest possible time with proof of funds. Preference will be given to offers proposing short Due Diligence and Escrow periods. Seller is under no obligation to accept any offer. Seller reserves the right to accept or reject any offer(s), at any time, without notice. Seller's formal Assignment and Assumption Agreement provides for an "As-Is, Where-Is" transaction. Buyer must rely solely upon buyer's independent investigations and due diligence. Disclaimer in full package applies.
CONTACT:	Larry Lynch (DRE 01180573) at 818-787-3077; cell 310-919-7803 for additional information. Submit buyer's contact information along with request. EMAIL REQUEST FULL PACKAGE

 

 

DISCLAIMER NOTICE TO BUYER: The above information contained herein was obtained from third parties, and it has not been independently verified by the real estate brokers. Buyer should have the experts of their choice inspect the property and verify all information. Real estate brokers are not qualified to act as or to select experts with respect to legal, tax, environment, zoning, building construction, soils-drainage, or other such matters. Please click here to view our full disclaimer.