Powerhouse Gym San Jacinto, CA - OFFERING MEMORANDUM
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Powe r h o u s e G ym
S a n J a c i n to, C A
OFFERING MEMORANDUM
Confidentiality Agreement The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
TABLE OF CONTENTS
Property Description 5
Pricing & Financial 17
Market Comparables 27
Market Overview 35
Demographic Analysis 39
4 PROPERTY DESCRIPTION
PROPERTY DESCRIPTION
THE OFFERING
Marcus and Millichap is pleased to present an Absolute Net
Leased investment with Powerhouse Gym in San Jacinto,
California. The subject property is a 28,000 square foot concrete
block building sitting on a 3.32 acre parcel with a very large
parking field. The real estate is located adjacent to Valley Medical
Center and Regal Theatre surrounded by Stater Brothers, Rite-
Aid, Walgreens and Wal-mart. The gym is a full service 24-hour
fitness facility with an indoor pool, guest lounge, weight room,
spin room, out -door lighted basketball court, fitness/ yoga room,
and guest locker rooms. The surrounding area is experiencing
rapid growth and development and a new Aldi will be breaking
ground soon near the property. The investment is being offered
at a 8.25% cap rate with monthly rent of .90 per square foot,
offering excellent value and a high yield. The lease has regularly
scheduled rent increases with the next rent increase of 5.5%
occurring on June 2019.
San Jacinto has a diverse business and job base that includes
the manufacturing sector as well as the non-manufacturing
sector of agriculture, retail and other support services. Principal
manufacturing products include electronic components, mobile
homes, casting and parts assembly. Retail, service and medical
providers are also valued industries.
The San Jacinto population has grown over 180% since 1990. The
current population is over 45,563 with the median age of 33.6.
Expanding commercial opportunities in San Jacinto has been a
major City focus over the last several years. San Jacinto offers
excellent retail sites, fast track development processing, strong
demand statistics, and a continually growing population base that
makes the City very attractive to retailers and other commercial
users.
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
6 PROPERTY DESCRIPTION
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206
INVESTMENT HIGHLIGHTS
San Jacinto, CA
Absolute Net Leased Investment
Ease of Management
High yield 8.25% CAP rate
Low Price Per Foot $130.89
8 years remaining on lease with 2 5-year options
Rapidly growing trade area with population growth over
180% since 1990.
Surrounded by national retailers: Wal-Mart, Rite-Aid, Stater
Bros, Walgreens, Cardenas.
7
REGIONAL MAP
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
8 PROPERTY DESCRIPTION
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206
LOCAL MAP
9
PARCEL MAP 10 PROPERTY DESCRIPTION
SITE PLAN
11AERIAL
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
12 PROPERTY DESCRIPTION
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206AERIAL
13PROPERTY
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
14 PROPERTY DESCRIPTION
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206PROPERTY
15ADJACENT PROPERTIES 16 MARKET OVERVIEW
ADJACENT PROPERTIES
17San Jacinto Mountains 18 PRICING & FINANCIAL
PRICING & FINANCIAL
PROPERTY
1635 S San Jacinto Ave
Address:
San Jacinto, CA 92583
APN: 439-112-029
Price: $3,665,000
Buildings: 1
Price Per Square Foot: $130.89
GLA: 28,000 SF
CAP Rate 8.25%
Year Built/Renovated: 1995
Lot Size: 3.32 AC
Occupancy: 100.00%
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
20 PRICING & FINANCIAL
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y010020621
PROPERTY
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
22 PRICING & FINANCIAL
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206RENT ROLL / TENANT SUMMARY
THE OFFERING ANNUALIZED OPERATING INFORMATION
Property Powerhouse Gym INCOME
Property Address 1635 S San Jacinto Ave Current Net Operating Income $302,400
San Jacinto, CA 92583
Price $3,665,000 RENT SCHEDULE
Capitalization Rate 8.25% YEAR FROM-TO ANNUAL RENT MONTHLY RENT RENT/SF
Price/SF $130.89 1 6/8/2015 - 5/31/2016 $295,680 $24,640 $0.88
2 6/1/2016 - 5/31/2017 $295,680 $24,640 $0.88
PROPERTY DESCRIPTION 3 6/1/2017 - 5/31/2018 $302,000 $25,200 $0.90
Year Built/Renovated 1995 4 6/1/2018 - 5/31/2019 $302,000 $25,200 $0.90
Gross Leasable Area 28,000 SF 5 6/1/2019 - 5/31/2020 $319,200 $26,600 $0.95
Zoning CG - Commercial General 6 6/1/2020 - 5/31/2021 $336,000 $28,000 $1.00
Type of Ownership Fee Simple 7 6/1/2021 - 5/31/2022 $336,000 $28,000 $1.00
8 6/1/2022 - 5/31/2023 $336,000 $28,000 $1.00
LEASE SUMMARY 9 6/1/2023 - 5/31/2024 $336,000 $28,000 $1.00
Property Subtype Net Leased Fitness Center 10 6/1/2024 - 5/31/2025 $336,000 $28,000 $1.00
Tenant Powerhouse Gym First Extension Term at $1.00/SF
Rent Increases Base Term 11 6/1/2025 - 5/31/2026 $336,000 $28,000 $1.00
Guarantor Personal Guarantee 12 6/1/2026 - 5/31/2027 $336,000 $28,000 $1.00
Lease Type NNN 13 6/1/2027 - 5/31/2028 $336,000 $28,000 $1.00
Lease Commencement 6/8/2015 14 6/1/2028 - 5/31/2029 $336,000 $28,000 $1.00
Lease Expiration 5/31/2025 15 6/1/2029 - 5/31/2030 $336,000 $28,000 $1.00
Lease Term 10 Years Second Extension Term at $1.05/SF
Terms Remaining on Lease 8 Years 16 6/1/2030 - 5/31/2031 $352,800 $29,400 $1.05
Renewal Options 2 5-yr Options 17 6/1/2031 - 5/31/2032 $352,800 $29,400 $1.05
Landlord Responsibility None 18 6/1/2032 - 5/31/2033 $352,800 $29,400 $1.05
Tenant Responsibility Taxes, Maintenance, Insurance 19 6/1/2033 - 5/31/2034 $352,800 $29,400 $1.05
Right of First Refusal/Offer Yes 20 6/1/2034 - 5/31/2035 $352,800 $29,400 $1.05
23This 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
24 PRICING & FINANCIAL
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y010020625
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
26 MARKET COMPARABLES
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y010020627
Mount San Jacinto, CA 28 MARKET COMPARABLES
MARKET COMPARABLES
RECENT SALES COMPARABLES MAP
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
30 MARKET COMPARABLES
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206RECENT SALES & ON MARKET COMPARABLES
1
Subject Property Fitness 19 - Bear Valley
1635 S San Jacinto Ave 13605 Bear Valley Rd
San Jacinto, CA 92583 Victorville, CA 92392
Close of Escrow: TBD Close of Escrow: 9/6/2016
Gross Leasable Area: 28,000 SF Gross Leasable Area: 10, 215 SF
Sale Price: $3,665,000 Sale Price: $2,050,000
CAP Rate: 8.25% CAP Rate: 6.10%
Price / SF: $130.84 Price / SF: $220.69
2 3
Crunch Fitness - Old Shady Dell 24 Fitness - Upland Plaza Shops
2655 Erringer Rd 685 W Foothill Blvd
Simi Valley, CA 93065 Upland, CA 91786
Close of Escrow: On Market Close of Escrow: 7/14/2016
Gross Leasable Area: 26,000 SF Gross Leasable Area: 33,350 SF
Sale Price: $9,046,150 Sale Price: $6,000,000
CAP Rate: N/A CAP Rate: 6.70%
Price / SF: $347.93 Price / SF: $179.91
31RECENT SALES & ON MARKET COMPARABLES
4 5
Fitness Works - Camelback 101 Plaza Fitness Works - Carmel Village Plaza
9675 W Camelback Rd 3050 S Gilbert Rd
Phoenix, AZ 85037 Chandler, AZ 85286
Close of Escrow: 10/5/2016 Close of Escrow: 10/3/2016
Gross Leasable Area: 29,920 SF Gross Leasable Area: 30,056 SF
Sale Price: $4,860,000 Sale Price: $4,650,000
CAP Rate: N/A CAP Rate: N/A
Price / SF: $162.43 Price / SF: $154.71
6
Fitness Evolution - Selma Plaza
2851 Whitson St
Selma, CA 93662
Close of Escrow: 11/16/2016
Gross Leasable Area: 31,000 SF
Sale Price: $4,248,526
CAP Rate: 7.13%
Price / SF: $135.82
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
32 MARKET COMPARABLES
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206RECENT SALES & ON MARKET COMPARABLES GRAPHS
SALES COMPARABLES SALES COMPS AVG
ON MARKET COMPARABLES ON MARKET COMPS AVG
Average Cap Rate Average Price Per Square Foot
9.0 $400.00
8.1
Avg. $ 3 47.9 3
$360.00
7.2 Avg. 6.47%
$320.00
6.3 $280.00
5.4 $240.00
4.5 $200.00 Avg. $ 16 6 .96
3.6 $160.00
2.7 $120.00
1.8 $80.00
0.9 $40.00
0.0 $0.00
16 3 5 S San Fitness 19 24 Fitness Fitness 16 3 5 S San Fitness 19 24 Fitness Fitness Fitness Fitness Crunch
Jacinto Ave - Upland Evolution - Jacinto Ave - Upland Works - Works - Evolution - Fitness
Plaza S elma Plaza Plaza Cam elback Carmel S elma Plaza - Old
101 Plaza Village S hady Dell
Plaza
33RENT COMPARABLES GRAPHS
Average Rent Per Square Foot
$40.00
$35.00
$30.00 Avg. $ 27.7
$25.00
$20.00
$15.00
$10.00
$5.00
$0.00
16 3 5 S San Hem et 125 W Palm Plaza Hem et West
Jacinto Ave Valley Florida Ave S hopping
Plaza Center
34 MARKET COMPARABLES
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 or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206RENT COMPARABLES
1 2
Subject Property Hemet Vally Plaza
1635 S San Jacinto Ave 3400 W Acacia Ave 125 W Florida Ave
San Jacinto, CA 92583 Hemet, CA 92545 Hemet, CA 92543
Date Surveyed: 7/10/2017 Date Surveyed: 7/10/2017 Date Surveyed: 7/10/2017
Occupancy: 100% Occupancy: 0% Occupancy: 2%
Gross Leasable Area: 28,000 SF Gross Leasable Area: 56,000 SF Gross Leasable Area: 29,800 SF
Rent / SF: $10.8 Rent / SF: $33.00 Rent / SF: $17.70
Available SF: 0 Available SF: 1,200 - 36,000 Available SF: 26,000
Proposed, available Dec 2018
3 4
Palm Plaza Hemet West Shopping Center
869 W Florida Ave 3104-3232 W Florida Ave
Hemet, CA 92543 Hemet, CA 92545
Date Surveyed: 7/10/2017 Date Surveyed: 7/10/2017
Occupancy: 57% Occupancy: 29%
Gross Leasable Area: 82,500 SF Gross Leasable Area: 51,307
Rent / SF: $9.00 Rent / SF: $23.40
Available SF: 10,000 - 35,000 Available SF: 900 - 24,400
35San Jacinto 36 MARKET OVERVIEW
MARKET OVERVIEW
LOCATION OVERVIEW
San Jacinto is a dynamic and growing community located in the Inland Empire
area of Southern California.
Located at the base of the San Jacinto mountains and adjacent to the San Jacinto
River, the City of San Jacinto has much to offer residents and businesses alike. As
the oldest incorporated city in Riverside county, there is an eclectic combination of
the old and the new.
Uncongested traffic flows as freely as the clean, crisp air, a quaint and revitalized
Main Street, affordable housing, shopping venues, and excellent golf represent a
few of the many amenities to enjoy in San Jacinto.
Extraordinary business and entrepreneurial opportunities are also advantages
of being in San Jacinto. The City is home to some of the most successful and
profitable businesses in the region.
The weather in San Jacinto is moderate. Summers are warm and winters are mild.
San Jacinto averages 342 days of sunshine each year.
San Jacinto is home to a diverse population. Currently, the population of San
Jacinto is 45,563.
Population has grown 172% since 1990
Current Population: 45,563
Median Age: 33.6
Average Household Size: 3.38
San Jacinto has a diverse business and job base that includes the manufacturing
sector as well as the non-manufacturing sector of agriculture, retail and
other support services. Principal manufacturing products include electronic
components, mobile homes, casting and parts assembly. Retail, service and
medical providers are also valued industries. The area’s labor force includes
professional, skilled and semi-skilled workers.
San Jacinto offers a variety of affordable homes ranging in price from $85,000 to
$275,000, available for everyone from first-time buyers to retirees in San Jacinto.
Seniors will find small, self contained communities of both mobile home parks
and conventional homes.
Major housing developers such as DR Horton, KB Home, RSI TheNewHouse, JD
Pierce, and Lennar Communities, as well as excellent local builders have built
affordable, quality homes in San Jacinto, with new home projects including
Stonecrest at the Cove, Luz Del Sol, Skyline Homes.
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
38 MARKET OVERVIEW
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206COUNTY OVERVIEW
The resort cities of Palm Springs, Palm Desert, Indian Wells, La Quinta,
AIRPORTS Rancho Mirage, and Desert Hot Springs are all located in the Coachella
Valley region of Riverside County. Large numbers of Los Angeles area
workers have moved to the county in recent years (data from the US
Palm Springs International Airport Census Bureau for 2007 through 2011) to take advantage of relatively
Hemet-Ryan Airport affordable housing. Along with neighboring San Bernardino County, it
was one of the fastest growing regions in the state prior to the recent
changes in the regional economy. In addition, smaller, but significant,
numbers of people have been moving into Southwest Riverside County
MAJOR ROADWAYS from the San Diego-Tijuana metropolitan area. The cities of Temecula and
Murrieta accounted for 20% of the increase in population of the county
between 2000 and 2007.
California State Route 74 and 79
The county is working to diversify beyond the housing industry that
Interstate 10 has driven the region’s economy for years. Transportation corridors –
highways, airports and rail lines – support Southern California’s shipping
connection to Asia, a vital link for California and the rest of the nation.
RIVERSIDE COUNTY IS:
California’s fourth largest county by population is expanding its economy,
working to make Riverside County as business-friendly as possible and
38 Miles from Orange County using health and recreations strategies to make the county a healthier
place for residents. Each year, millions visit the county to take advantage
57 Miles from Los Angeles of the glorious desert winter, attend the Riverside County Fair and
National Date Festival, the Balloon and Wine Festival, the Palm Springs
120 Miles from San Diego International Film Festival, the Coachella and Stagecoach mega-concerts,
240 Miles from Las Vegas the Paribas Open at the Indian Wells Tennis Center and the Humana
Challenge, the golf tournament formerly known as the Bob Hope Classic.
MAJOR EMPLOYERS LARGEST CITIES: RIVERSIDE COUNTY
Manufacturing
Riverside 303,871
Skyline Corporation and Edelbrock Corporation
Moreno Valley 193,365
Non-Manufacturing
Corona 152,374
Agri-Empire, Super Wal-Mart. Stater Bros, Market #180, Cardenas
Murrieta 103,466
Market, and the Country Club of Soboba
Temecula 100,097
Municipalities/Public Services
Hemet 78,657
City of San Jacinto, Riverside County
San Jacinto Unified School District and Mt. San Jacinto College
39San Jacinto State Park, CA 40 DEMOGRAPHIC ANALYSIS
DEMOGRAPHIC
ANALYSIS
41DEMOGRAPHIC REPORT
POPULATION 1-MILE 3-MILES 5-MILES
2000 Population 8,960 77,176 110,174
2010 Population 12,451 100,836 148,360
2016 Population 13,206 107,890 159,400
2021 Population 14,398 115,966 173,174
INCOME 1-MILE 3-MILES 5-MILES
Average $48,504 $50,241 $53,130
Median $32,681 $35,627 $37,816
Per Capita $15,464 $17,406 $18,708
HOUSEHOLDS 1-MILE 3-MILES 5-MILES
2000 Households 3,187 29,449 43,597
2010 Households 3,955 34,612 51,842
2016 Households 4,171 37,049 55,719
2021 Households 4,524 39,428 59,685
Housing (2016) $112,823 $130,565 $132,089
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
42 DEMOGRAPHIC ANALYSIS
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap ACT ID Y0100206SUMMARY REPORT
SAN JACINTO CITY
HOUSEHOLDS POPULATION
The 2010 Census reported that 43,971 people (99.5% of the The 2010 United States Census reported that San Jacinto had a
population) lived in households. There were 13,152 households, population of 44,199. The population was spread out with 14,487
The average household size was 3.34. There were 9,987 families people (32.8%) under the age of 18, 4,404 people (10.0%) aged 18
(75.9% of all households); the average family size was 3.81. to 24, 11,885 people (26.9%) aged 25 to 44, 8,755 people (19.8%)
aged 45 to 64, and 4,668 people (10.6%) who were 65 years of age
or older. The median age was 30.3 years. For every 100 females there
were 95.6 males. For every 100 females age 18 and over, there were
HOUSING 91.4 males.
There were 14,977 housing units at an average density of 573.2
per square mile (221.3/km²) of which 8,943 (68.0%) were owner- EMPLOYMENT
occupied, and 4,209 (32.0%) were occupied by renters. The
homeowner vacancy rate was 5.7%; the rental vacancy rate was
The unemployment rate in San Jacinto, California, is 10.00%, with
10.3%. 28,777 people (65.1% of the population) lived in owner-
job growth of 3.40%. Future job growth over the next ten years is
occupied housing units and 15,194 people (34.4%) lived in rental
predicted to be 36.80%.
housing units.
RACE & ETHNICITY
The racial makeup of San Jacinto was 25,272 (57.2%) White INCOME
(35.1% Non-Hispanic White), 2,928 (6.6%) African American, 812
San Jacinto, California,sales tax rate is 8.00%. Income tax is 8.00%.
(1.8%) Native American, 1,341 (3.0%) Asian, 124 (0.3%) Pacific
According to the 2010 United States Census, San Jacinto had a
Islander, 11,208 (25.4%) from other races, and 2,514 (5.7%) from
median household income of $47,453. The income per capita is
two or more races. Hispanic or Latino of any race were 23,109
$17,350, which includes all adults and children.
persons (52.3%).
43Confidentiality Agreement The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
EXCLUSIVELY
LISTED
Paul Bitonti
First Vice President Investments
Tel: (949) 419-3246
Fax: (949) 419-3351
paul.bitonti@marcusmillichap.com
License: CA 01325076You can also read
