San Jacinto 27 LLC (2003-2004) Click for larger view

The Myers Group actively began its research of the San Jacinto, Riverside County, CA market in early 1980.   

During the decade of the 1980's, Riverside County's growth was explosive, and today it is still one of the fastest growing areas in the United States.  

As the population of Riverside County grew, development expanded rapidly into San Jacinto with over 30,000 lots coming on market during 2002-2004.

San Jacinto is located adjacent to Hemet, CA, which lies approximately 15 miles south of Interstate 10 via Sanderson Avenue (SR 79).



Click for larger view

The San Jacinto 29 (identified as Subject Property on the map above) is bordered on the west by CA State Road 79, a major north-south road located one-half mile north of Cottonwood Avenue (an east-west thoroughfare).

The City of San Jacinto is currently enjoying a building boom, with tentatively mapped properties being purchased by residential builders as soon as they become available. 

The 67 acres directly adjacent and to the east of SJ 27 was sold to a major homebuilder, whose tentative map was approved in October 2002 has now been completed on a 268-lot residential subdivision.  

Adjacent and to the east of the 67 acres, another developer has purchased 20 acres and has built 69 homes.

During the holding period, TMG created a concept plan and obtained full entitlement and final mapping - with an approved tentative map for 78 residential lots. The property was sold in 2004 to Lennar Homes.



SUMMARY - San Jacinto 27 LLC

Purchase price (12/15/03)
$750,000
Architecture, eng. & planning
$30,000
Real estate taxes
$8,000
Resale price (7/19/04)
$2,340,000
Gross appreciation
$1,306,460
Holding time:

7 months.


364% ANNUAL PROPERTY APPRECIATION
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