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MULTI FAMILY INVESTMENT SALE68 TOTAL CONDOMINIUMS
ASKING $17,000,000.00 / $250,000 PER DOOR / 4.63% CAP
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2020. All rights reserved.
HOWARD BERRYSenior Vice [email protected]+1 408 282 3809CA License No. 01795693
TOM SCHMIDT, CCIMVice President, Commercial Investment Group [email protected]+1 650 486 2226CA License No. 1351547
COLLIERS INTERNATIONAL225 West Santa Clara Street10th Floor, Suite 1000 San Jose, CA 95113P: +1 408 282 3800
ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
2
SUMMARYArdenwood Swim and Racquet Club Community Association were constructed in 1987 consisting of 862 rentable units over 52 Acres with above average amenities and curb appeal. The unites were developed in two phases (east and west).
With premium finishes and wide-open spaces, each floor plan from Ardenwood Swim and Racquet Club Community Association brings you unparalleled luxury without sacrificing on comfort. Fremont hotspots infuse Ardenwood Swim and Racquet Club Community Association with vibrant energy. Purely contemporary, the beautiful community playfully highlights the structure of the grounds and community attractions such as the resort-style swimming pool.
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
3
OFFERING LOCATIONColliers International is please to present the unique opportunity to own and undivided interest in Ardenwood Swim and Racquet Club Community Association an 862 unit for rent project constructed on 52 acres between 1984 and 1986 with public records showing completion in 1987. The offering is for 68 condominium units within the project. Units are developed in clusters, each having between 6 and 12 units. The majority of the unit clusters are two stories, with first floor units, second floor units and townhouse (two story) layouts. The properties for sale have a combined gross leasable area of 59,075 square feet. The condominiums within the Ardenwood Swim and Racquet Club Community Associationdevelopment are intended to be maintained and held for commercial purposes, to wit, the operation of a multi-family apartment rental project will be managed, maintained and leased through Ardenbrook Inc. “the Management company”. No portion of the project is intended to be converted, sold or occupied as owner-occupied residential condominiums.
The subject property is located in the Greater San Francisco Bay Area. The Bay Area takes in nine counties and comprises nearly 700,000 square miles around the perimeter of the Bay. The Bay area supports a population base of approximately 6,000,000 people, over 20% of the State total, second only to Los Angeles in terms of population.
Fremont is located in the Southeast section of the San Francisco Bay near the mid-portion of the area running from Oakland to San Jose. As of January 1, 2018, the population of Fremont was 235,439, and increase of 0.7% over January 2017. The city of Fremont is bordered by the cities of Newark to the north and Union City to the south and San Francisco Bay on the west. The area housing has become increasingly more in demand due to the rapid expansion of Silicon Valley.
OVERVIEW
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
4
Volleyball & Half Basketball Courts
Water & Sewage, Trash & Recycling
Included
Dry Sauna Room
3 Furnished ClubhousesGated Playground
Car Care CenterPrivate Garages
Fully EquippedFitness Center
Swimming Pools
AMENITIES
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
5
FLOORPLANS
2BEDROOMS
1BATH
961 SQ FT
2BEDROOMS
1BATH
862 SQ FT
2BEDROOMS
1BATH
786 SQ FT
1BEDROOM
1BATH
564 SQ FT
PINE MAPLE CEDARREDWOOD OAK
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
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colliers.com/siliconvalley
6
(510) 230-2509
Pine
Beds 1Baths 1Sq Ft 564Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Ofce HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Built-In Microwaves
Vaulted Ceilings
Frost Free Refrigerators
Woodburning �replaces
Stackable Washer/Dryer Included
Self-Cleaning Ovens
Large Private Patios/Balconies
Attached and Detached GaragesAvailable
Assigned Carports Available
Gated Playground
Fully Equipped Fitness Center
3 Furnished Clubhouses
Water and Sewage, Trash and RecyclingIncluded
Volleyball And Half Basketball Courts
Private Garages
Dry Sauna Room
Car Care Center
BBQ Picnic Areas
6 Lighted Tennis Courts
2 Sparkling Pools
2 Relaxing Spas
PINE
(510) 230-2509
Pine
Beds 1Baths 1Sq Ft 564Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Ofce HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Built-In Microwaves
Vaulted Ceilings
Frost Free Refrigerators
Woodburning �replaces
Stackable Washer/Dryer Included
Self-Cleaning Ovens
Large Private Patios/Balconies
Attached and Detached GaragesAvailable
Assigned Carports Available
Gated Playground
Fully Equipped Fitness Center
3 Furnished Clubhouses
Water and Sewage, Trash and RecyclingIncluded
Volleyball And Half Basketball Courts
Private Garages
Dry Sauna Room
Car Care Center
BBQ Picnic Areas
6 Lighted Tennis Courts
2 Sparkling Pools
2 Relaxing Spas
Beds 1Baths 1Sq Ft 564
(510) 230-2509
Cedar
Beds 2Baths 1Sq Ft 862Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Office HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Page 1 of 3Fremont, CA Ardenwood Forest Rental Condominiums Floor Plans | Apartments in Frem...
10/17/2019https://www.ardenwoodforest.com/Brochure/Cedar?siteId=1895987&fId=2549617
CEDAR
(510) 230-2509
Pine
Beds 1Baths 1Sq Ft 564Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Ofce HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Built-In Microwaves
Vaulted Ceilings
Frost Free Refrigerators
Woodburning �replaces
Stackable Washer/Dryer Included
Self-Cleaning Ovens
Large Private Patios/Balconies
Attached and Detached GaragesAvailable
Assigned Carports Available
Gated Playground
Fully Equipped Fitness Center
3 Furnished Clubhouses
Water and Sewage, Trash and RecyclingIncluded
Volleyball And Half Basketball Courts
Private Garages
Dry Sauna Room
Car Care Center
BBQ Picnic Areas
6 Lighted Tennis Courts
2 Sparkling Pools
2 Relaxing Spas
Beds 2Baths 1Sq Ft 862
FLOOR PLANS
(510) 230-2509
Maple W/Den
Beds 2Baths 1Sq Ft 768Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Office HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Page 1 of 3Fremont, CA Ardenwood Forest Rental Condominiums Floor Plans | Apartments in Frem...
10/17/2019https://www.ardenwoodforest.com/Brochure/Maple-W-Den?siteId=1895987&fId=2549614
MAPLE
(510) 230-2509
Pine
Beds 1Baths 1Sq Ft 564Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Ofce HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Built-In Microwaves
Vaulted Ceilings
Frost Free Refrigerators
Woodburning �replaces
Stackable Washer/Dryer Included
Self-Cleaning Ovens
Large Private Patios/Balconies
Attached and Detached GaragesAvailable
Assigned Carports Available
Gated Playground
Fully Equipped Fitness Center
3 Furnished Clubhouses
Water and Sewage, Trash and RecyclingIncluded
Volleyball And Half Basketball Courts
Private Garages
Dry Sauna Room
Car Care Center
BBQ Picnic Areas
6 Lighted Tennis Courts
2 Sparkling Pools
2 Relaxing Spas
Beds 2Baths 1Sq Ft 786
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
7
REDWOOD
(510) 230-2509
Pine
Beds 1Baths 1Sq Ft 564Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Ofce HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Built-In Microwaves
Vaulted Ceilings
Frost Free Refrigerators
Woodburning �replaces
Stackable Washer/Dryer Included
Self-Cleaning Ovens
Large Private Patios/Balconies
Attached and Detached GaragesAvailable
Assigned Carports Available
Gated Playground
Fully Equipped Fitness Center
3 Furnished Clubhouses
Water and Sewage, Trash and RecyclingIncluded
Volleyball And Half Basketball Courts
Private Garages
Dry Sauna Room
Car Care Center
BBQ Picnic Areas
6 Lighted Tennis Courts
2 Sparkling Pools
2 Relaxing Spas
Beds 2Baths 1Sq Ft 862
FLOOR PLANS
OAK
(510) 230-2509
Pine
Beds 1Baths 1Sq Ft 564Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Ofce HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Built-In Microwaves
Vaulted Ceilings
Frost Free Refrigerators
Woodburning �replaces
Stackable Washer/Dryer Included
Self-Cleaning Ovens
Large Private Patios/Balconies
Attached and Detached GaragesAvailable
Assigned Carports Available
Gated Playground
Fully Equipped Fitness Center
3 Furnished Clubhouses
Water and Sewage, Trash and RecyclingIncluded
Volleyball And Half Basketball Courts
Private Garages
Dry Sauna Room
Car Care Center
BBQ Picnic Areas
6 Lighted Tennis Courts
2 Sparkling Pools
2 Relaxing Spas
Beds 2Baths 1Sq Ft 961
(510) 230-2509
Redwood
Beds 2Baths 1Sq Ft 862Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Office HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Page 1 of 3Fremont CA Apartments | Reed Row | Floor Plans
11/4/2019https://www.ardenwoodforest.com/Brochure/Redwood?siteId=1895987&fId=2549615
(510) 230-2509
Oak
Beds 2Baths 2Sq Ft 961Deposit $600
5016 Paseo Padre Pkwy Fremont, CA 94555
Office HoursMon - Fri: 9AM to 6PM Sat - Sun: 10AM to 5PM
Page 1 of 3Fremont, CA Ardenwood Forest Rental Condominiums Floor Plans | Apartments in Frem...
10/17/2019https://www.ardenwoodforest.com/Brochure/Oak?siteId=1895987&fId=2549621
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
8
FINANCIAL ANALYSISSF Units Rent/mo
2bd, 1ba Townhouse w/ Fireplace 961 23 $2,820
2bd, 1ba w/ Fireplace 862 30 $2,620
2bd, 1ba 768 13 $2,500
1bd, 1ba 564 2 $2,350
TOTAL 59,075 68
Year Annual Distribution CAP Rate**
2015 $716,458 4.21%
2016 $801,072 4.71%
2017 $851,341 5.01%
2018 $896,744 5.27%
2019 $673,500 3.96%
Average $787,823 4.63%
Cash Reserve $1,956,728NOI $950,813Asking Price Includes Cash Reserve $17,000,000
GRM 8.78
PRICE PER UNIT $250,000
Unit Count 68
Gross Income $1,936,301
Annual Expenses $985,488
Exp./Unit $14,492
Exp. As a % of Gross Income 50.90%
NOI $950,813
Condo Reserves Withheld $277,313
Owner Distribution $673,500
2019 P&L STATEMENT
VALUATION BASED ON DISTRIBUTIONS*
* Cash Flow to Owners after Reserves** Based on Asking Price
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
APN No. Address Plan/Layout Bed/Bath Leasable Area
(Sq. Ft.)543-443-154 4982 Cappy Maple 2 BD/1 BA 786
543-443-155 4984 Cappy Cedar 2 BD/1 BA w/Fireplace 862
543-443-156 4980 Cappy Redwood 2 BD/1 BA w/Fireplace 862
543-443-157 4986 Cappy Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-158 4988 Cappy Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-159 4990 Cappy Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-160 4992 Cappy Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-161 4998 Cappy Redwood 2 BD/1 BA w/Fireplace 862
543-443-162 4994 Cappy Cedar 2 BD/1 BA w/Fireplace 862
543-443-163 4996 Cappy Maple 2 BD/1 BA 786
543-443-244 4988 Hildasue Pine 1 BD/1 BA 564
543-443-245 4990 Hildasue Cedar 2 BD/1 BA w/Fireplace 862
543-443-246 4986 Hildasue Redwood 2 BD/1 BA w/Fireplace 862
543-443-248 4994 Hildasue Pine 1 BD/1 BA 564
543-443-249 4992 Hildasue Cedar 2 BD/1 BA w/Fireplace 862
543-443-250 4996 Hildasue Redwood 2 BD/1 BA w/Fireplace 862
543-443-301 4974 Hildasue Cedar 2 BD/1 BA w/Fireplace 862
543-443-282 4971 Hildasue Maple 2 BD/1 BA 786
543-443-286 4965 Hildasue Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-290 4959 Hildasue Cedar 2 BD/1 BA w/Fireplace 862
543-443-481/482 34511 Felix #9 Maple 2 BD/1 BA 768
543-443-483/484 34510 Felix #10 Redwood 2 BD/1 BA w/Fireplace 862
543-443-485/486 34507 Felix #8 Cedar 2 BD/1 BA w/Fireplace 862
543-443-487 34503 Felix #11 Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-488 34499 Felix #12 Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-489 34495 Felix #13 Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-490 34491 Felix #14 Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-491 34487 Felix #17 Cedar 2 BD/1 BA w/Fireplace 862
543-443-492 34479 Felix #15 Redwood 2 BD/1 BA w/Fireplace 862
543-443-493 34483 Felix #16 Oak 2 BD/1 BA 768
543-443-387 4923 Knowlson Oak 2 BD/1 BA 768
543-443-388 4925 Knowlson Redwood 2 BD/1 BA w/Fireplace 862
543-443-389 4921 Knowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-390 4919 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-391 4917 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
UNIT MIXAPN No. Address Plan/
Layout Bed/Bath Leasable Area (Sq. Ft.)
543-443-392 4915 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443.393 4913 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-394 4911 Knowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-395 4907 Knowlson Redwood 2 BD/1 BA w/Fireplace 862
543-443-396 4909 Knowlson Maple 2 BD/1 BA 768
543-443.397 4885 Knowlson Maple 2 BD/1 BA 768
543-443-398 4887 Knowlson Redwood 2 BD/1 BA w/Fireplace 862
543-443-399 4883 Knowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-400 4881 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-401 4879 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-402 4877 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-403 4875 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-404 4873 Knowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-405 4869 Knowlson Redwood 2 BD/1 BA w/Fireplace 862
543-443-406 4871 Knowslon Oak 2 BD/1 BA 768
543-443-407 4906 Knowlson Oak 2 BD/1 BA 768
543-443-408 4904 Knowlson Redwood 2 BD/1 BA w/Fireplace 862
543-443-409 4908 K.nowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-410 4910 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-411 4912 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-412 4914 Knowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-413 4918 K.nowlson Redwood 2 BD/1 BA w/Fireplace 862
543-443-414 4916 Knowlson Maple 2 BD/1 BA 768
543-443-415 4930 Knowlson Maple 2 BD/1 BA 768
543-443-416 4932 Knowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-417 4928 Knowlson Redwood 2 BD/1 BA w/Fireplace 862
543-443-418 4934 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-419 4936 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-420 4938 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-421 4940 Knowlson Oak 2 BD/1 BA Townhouse w/Fireplace 961
543-443-422 4942 Knowlson Cedar 2 BD/1 BA w/Fireplace 862
543-443-423 4944 Knowlson Maple 2 BD/1 BA 768
543-443-424 4946 Knowlson Redwood 2 BD/1 BA w/Fireplace 862
59,075
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
SALES COMPS
Address 24650 Amador StHayward, CA 94544
Type Multi-FamilySale Date 12/12/2018SF 116,750Sale Price / PSF
$44,000,000 /$377
Address 1130-1354 Bonner AveFremont, CA 94538
Type Multi-FamilySale Date 9/7/2018SF 106,928Sale Price / PSF
$25,750,000 /$241
Address 4444 Hansen AveFremont, CA 94536
Type Multi-FamilySale Date 8/18/2018SF 95,604Sale Price / PSF
$22,439,000 /$235
Address 655 Tennyson RdHayward, CA 94544
Type Multi-FamilySale Date 1/10/2018SF 168,924Sale Price / PSF
$70,600,000 /$418
Address 42010 Blacow RdFremont, CA 94538
Type Multi-FamilySale Date 11/15/2017SF 46,008Sale Price / PSF
$27,750,000 /$603
COLLIERS INTERNATIONALFOR SALE
11
colliers.com/siliconvalley
ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C ATAX MAP68 UNITS
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
colliers.com/siliconvalley
12
George Washington Patterson came west in 1849 to seek his fortune in the goldfields of California. Instead he “struck gold” in the fertile farm fields of southern Alameda County.
This farm was originally owned by the George & Clara Patterson family from the 1850s. It was turned over to the City of Fremont in 1978, and the East Bay Regional Park District has operated the property as a fully functioning, turn-of-the-last-century farm since 1985. A visit here is a journey back to the time of the 1850s Patterson Ranch--a prosperous, 19th-century country estate with a beautiful Victorian mansion and elaborate Victorian Gardens.
The farm still grows the same kind of produce that was grown in the region in the last 100 years, utilizing agricultural practices from the 1870s to the present, demonstrating the transition from horse-powered to horsepower farming. The interpretive staff and volunteers, attired in Victorian clothing, guide guests through the Victorian house, demonstrate farm chores, and explain what life was like in the early 1900s. From December to mid-February monarch butterflies overwinter here.
ARDENWOODHISTORIC FARM
COLLIERS INTERNATIONALFOR SALE ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
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PHOTOS
FOR SALE
ARDENWOODSWIM AND RACQUET CLUB COMMUNITY ASSOCIATION
F R E M O N T , C A
MULTI FAMILY INVESTMENT SALE68 TOTAL CONDOMINIUMS
HOWARD BERRYSenior Vice [email protected]+1 408 282 3809CA License No. 01795693
TOM SCHMIDT, CCIMVice President, Commercial Investment Group [email protected]+1 650 486 2226CA License No. 1351547