FOR SALE - LoopNet...a five-unit, fully furnished apartment building located in one of Rancho Santa Fe’s most sought after areas, also known as “The Covenant.” The Covenant of

FOR SALE• Villa La Serena; Five (5)-Unit 6,921 SF Fully Furnished Apartment Building

• Tentative Map in Place for Conversion to Condos; Elevator-Served

OFFERING MEMORANDUM

David Knowlton, SIOR, CCIMExecutive Vice [email protected] DRE Lic #00893394

LOCATED IN “The Covenant”; The Exclusive Area of Rancho Santa Fe, San Diego6177 EL TORDO, RANCHO SANTA FE, CA 92067

Steve GimVice [email protected] DRE Lic #01400546

6177 EL TORDO | NAI CAPITAL | 2

EXECUTIVE SUMMARY

NAI Capital Inc. has been selected to offer for sale the exclusive Villa La Serena;

a five-unit, fully furnished apartment building located in one of Rancho Santa

Fe’s most sought after areas, also known as “The Covenant.” The Covenant

of Rancho Santa Fe is one of the most exclusive, beautiful and desired rural

communities in the country. Currently vacant, this elevator-served deluxe

apartment building boasts five large furnished apartments that may be offered

for long-term lease, short-term vacation rentals, an assisted living community,

or may be converted to condo units by converting the in-place Tentative Parcel

Map to a Final Map. The property is located on the corner of Paseo Delicias

and El Tordo; less than one block from Rancho Santa Fe Village. Ownership

of the Property comes with two (2) free Social Memberships to the Rancho

Santa Fe Golf Club, and the right to purchase Full Memberships.

A. OPPORTUNITY OVERVIEW

• Five (5) Fully Furnished, Elevator-Served Apartment Units

• Tentative Map in Place for Conversion to Condos

• Opportunity to Lease as Apartments, Vacation Rentals or Assisted Living Units

• Located in The Exclusive Covenant of Rancho Santa Fe

• Qualifies for Free Social Memberships in Rancho Santa Fe Golf Club

• Steps from Rancho Santa Fe Village

C. SALE TERMS

• Pricing: $4,750,000

• Due Diligence & Escrow Periods: TBD

B. PROPERTY HIGHLIGHTS


ADDRESS: 6177 El Tordo, Rancho Santa Fe, CA 92067

PROPERTY TYPE: Apartments

# OF UNITS: Five (5); Single-Story

IMPROVEMENTS SF: 6,921

PARKING: Two (2) Covered Tandem Spaces/Unit, plus 2 guest spots plus street parking

LOT SIZE: 9,279 SF

YEAR BUILT: 1967

ZONING: Residential – Urban (RU)

APN: 266-271-24

A. PROPERTY OVERVIEW

Unit Breakdown:

• Unit A: 2 Bedroom/2 Bath 1,239 SF

• Unit B: 2 Bedroom/2 Bath 1,176 SF

• Unit C: 2 Bedroom/2 Bath 1,677 SF

• Unit D: 2 Bedroom/2 Bath 1,374 SF

• Unit E: 2 Bedroom/2 Bath 1,455 SF

THE OFFERING


AERIAL

SITE


AERIAL


LOCATION MAPS


PROPERTY PHOTOS


Unit A

PROPERTY PHOTOS


Unit B

PROPERTY PHOTOS


Unit C

PROPERTY PHOTOS


Unit D

PROPERTY PHOTOS


Unit E

PROPERTY PHOTOS


FLOOR PLANS

Unit A Unit B Unit C

Unit D Unit E


ASSESSOR’S PARCEL MAP


The property’s zoning classification is Urban Residential (“RU”). The RU Use Regulations are intended to create and enhance areas where permanent family residential uses are permitted and institutional residential care uses are conditionally permitted and civic uses are permitted when they serve the needs of the residents.

PERMITTED USES:

(a) Residential Use Types

• Family Residential

• Group Residential

(b) Civic Use Types

• Essential Services

• Fire Protection Services

• Small Schools (with Minor Use Permit)

(b) Civic Use Types Allowed with Major Use Permit

• Administrative Services

• Ambulance Services

• Child Care Center

• Civic, Fraternal or Religious Assembly

• Clinic Services

• Community Recreation

• Group Care

• Major Impact Services and Utilities

E. ZONING OVERVIEW

ZONING


RETAIL AERIAL


A. About Rancho Santa Fe

Rancho Santa Fe is an unincorporated area located in the North County of San Diego. The “Ranch” as it is fondly called is a California Historic Landmark and is

known for its large lots, rural ambiance and celebrity residents. With an ideal year-round climate and bucolic trails, the community of Rancho Santa Fe offers every

recreational opportunity, including private golf, tennis, polo, and horseback riding in Southern California.

Rancho Santa Fe is an affluent town with an average household income of $195,505 (3 mile radius) and on average housing price of $2,542,000.

AREA OVERVIEW


B. About “The Covenant”

This property’s unique location is in one of Rancho Santa Fe’s most sought

after areas, also known as “The Covenant.” The Covenant of Rancho Santa Fe,

managed by the Rancho Santa Fe Association, is one of the most exclusive,

beautiful and desired rural communities in the country. The Association was

incorporated in 1927 as a California nonprofit corporation for the purpose of

managing the planned community of Rancho Santa Fe.

In 1928, property owners entered into a mutual agreement to preserve and

maintain the character of the community and its rare landscape features.

That mutual agreement was called the “Protective Covenant”, which remains

as the principal governing document for the community. Although technically

a Homeowners Association, the Rancho Santa Fe Association functions very

much like a small city, with a building department, planning department, parks

and recreation department, and 24-hour-a-day security services. Exclusive

access to a wide array of activities, events and clubs are among the many

benefits of living in the beautiful Covenant of Rancho Santa Fe.

The Covenant boasts an extensive network of private trails expanding nearly

60 miles and are exclusive to Covenant residents and their guests. Known

for its horses, The Covenant features 45 miles of private riding/hiking trails,

as well as the RSF Riding Club and Saddle Club. Some of the finest horse

trainers in the country live here, and the area was the site for the equestrian

events during the 1984 Olympics. Polo is a popular pastime.

Only residents of The Covenant are permitted to belong to the RSF Golf and

Tennis Club, located in the heart of The Covenant and regarded as one of the

premier golf venues in the western United States.

AREA OVERVIEW


C. About Rancho Santa Fe Golf Club

The Rancho Santa Fe Golf Club is a private golf club centered in the historic

and prestigious community of Rancho Santa Fe, one of the most sought

after and revered residential communities in the United States. It is exclusive

to property owners within the perimeters. Named as one of the top 20 best

golf venues by Golf Digest Magazine, The Rancho Santa Fe Golf Club is the

centerpiece of the historic and prestigious community. It is a spectacularly

endowed “natural” golf course that was carved from the rolling terrain of a

eucalyptus forest and is surrounded by bucolic trails and million dollar estates.

The private golf course is an eighteen hole, 7035 yard, par 72 design by

master golf course architect Max Behr. Distinguished as one of the finest

walkable designs in the world and named as one of the top 20 best golf

venues by Golf Digest Magazine, it offers one of the finest practice facilities

anywhere coupled with golf instruction for every level. The course was

extensively renovated in 2002. The practice facilities include a double-ended

driving range, two practice putting greens, and a two-acre short game

practice area.

The clubhouse is both relaxed and casual, the service is impeccable. The

cuisine is both adventuresome and comfortable showcasing the finest and

freshest ingredients sourced locally. Ownership of the Property comes with two free Social Memberships to the Club and the right to purchase full memberships. If converted to condos, the owners of each condo unit will also have access to two memberships.

Website: www.rsfgolfclub.com

AREA OVERVIEW


D. Schools

Top-notch public and private schools are available to families in the Covenant

of Rancho Santa Fe. The Rancho Santa Fe School District boasts the R.

Roger Rowe School for elementary and middle school students. It serves

about 700 students and is located in the heart of the Covenant of Rancho

Santa Fe. In 2010, the Roger Rowe School was completely rebuilt, and

is consistently ranked as one of the top public schools in California with

exceptional Academic Performance Index (API) scores. The state-of-the-art

campus features a performing arts center, classroom labs, and a computer

for each child.

Torrey Pines High School is the public high school for students from the

Covenant of Rancho Santa Fe and other adjacent communities. Torrey Pines

High is a part of the highly ranked San Dieguito Union High School District.

Students may attend their boundary high school of Torrey Pines, and are also

eligible to attend one of two schools of choice in the district – Canyon Crest

Academy in Carmel Valley or San Dieguito Academy in Encinitas.

There are several other private high schools in the area including La Jolla

Country Day School, Bishops School, Horizon Prep, Cathedral Catholic High

School, The Grauer School and Francis Parker.

AREA OVERVIEW


Population 1 Mile 3 Mile 5 Mile

Estimated Population (2019) 1,830 19,912 135,167

Projected Population (2024) 1,943 20,555 138,997

Census Population (2010) 1,717 18,993 116,963

Census Population (2000) 1,793 15,884 90,065

Income 1 Mile 3 Mile 5 Mile

Estimated Average Household Income (2019) $134,106 $195,505 $187,789

Projected Average Household Income (2024) $151,630 $233,077 $225,242

Census Average Household Income (2010) $347,667 $191,431 $141,971

Census Average Household Income (2000) $297,923 $199,696 $122,086

Households 1 Mile 3 Mile 5 Mile

Estimated Households (2019) 706 7,547 49,562

Projected Households (2024) 757 7,875 51,482

Census Households (2010) 659 7,158 43,121

Census Households (2000) 664 5,813 33,743

DEMOGRAPHICS

Documents

FOR SALE - LoopNet...a five-unit, fully furnished apartment building located in one of Rancho Santa Fe’s most sought after areas, also known as “The Covenant.” The Covenant of