Matthew Wenzel

The subject property is a beautiful newly constructed 7-unit townhouse style apartment building located at 3801 Franklin Avenue in the city of Fullerton. Completed in 2020, this property is composed of a single three-story structure with approximately 12,150 square feet of rentable space sitting on a parcel of approximately 16,439 square feet. The units at this property are significantly larger than other for-rent units typically found in the market and are perfectly positioned for multi-generational families and work-from-home roommate environments. Six of the units are large 5-bedroom, 3.75 bath units of 1,750 SF and the one remaining unit is a 4-bedroom, 3 bath unit of 1,650 SF. The 4-bedroom unit has been designated as an affordable housing unit. Lease up for this property started in October of 2020 and the building was fully rented by December of 2020. For-rent townhomes of this size and bedroom count are extremely hard if not impossible to find in central Orange County, especially in newly constructed buildings. As such, these units fill a unique niche in the market that could certainly be advantageous for a new owner as families and groups of renters consolidate in the coming years. The demand for multi-generational housing accommodations has vaulted in popularity and these large units certainly help fill this need. Each unit in this building benefits from an attached two-car garage with immediate access to the living space. There are four additional surface parking spaces for guests and overflow parking. All units have two private balconies, a fenced in private patio area, central heating and air conditioning and an open kitchen layout with a large kitchen island. Washer/dryer hookups are provided in a full laundry room on the third floor of each unit and the bedroom and bathroom on the first floor of each unit is ADA compliant. Additionally, to the rear of the property is a small playground area for children. Tenants are responsible for their own electricity and gas bills and they are billed separately by sub-metering company Minol for water, sewer and trash. The neighborhood surrounding the subject property is residential in nature and is composed primarily of well-maintained single-family homes and small apartment buildings. The property is located only blocks to the north of the I-5 and 91 freeway interchange and access to these important arterials is excellent.

The subject property is a ±25,165 SF (Gross) parcel of industrial land located at 1540 E. Edinger Avenue in the city of Santa Ana. Part of a larger office/industrial development, the property is located on the south side of Edinger Avenue just east of Grand Avenue and is situated less than a mile to the west of the 55 freeway. Previously, there had been an office building located on this property although several years ago the building burned down. There is currently a recorded office condominium map in place along with a full set of CCRs that would allow for the construction of a two-story 16-unit office condominium project of approximately 7,840 SF. Zoning on this site is M-1 Light Industrial and the General Plan Land Use Designation is Industrial. The purpose of the Industrial designation is to provide space for activities such as light/heavy manufacturing, warehousing, processing and distribution as well as commercial uses ancillary to industrial activities. Industrial designations typically allow for buildings with a Floor Area Ratio of up to 0.45 with typical height limits of 35’. This property is flat and rectangular in shape with gross dimensions of 105.1’ of frontage along Edinger Avenue and a depth of 230’. The northerly 30’ of the parcel and the easterly 13’ of the parcel are covered by ingress/egress easements to the benefit of the other buildings in this complex and these two shared drive aisles compose approximately 5,733 square feet of the site. The site also includes 47 open parking spaces situated around the perimeter of the parcel. The industrial land market in Santa Ana is extremely supply-restricted. This site benefits from great frontage along Edinger Avenue and a location that is less than a mile to the 55 freeway.

The subject property is a prime ±0.22 acre redevelopment site located at 1014 Broadway in downtown San Diego. Currently operating as a small retail center, all leases on this property are on a month-to-month basis with the exception of one lease for a 1,600 SF space that expires in 2029. Broadway is a major east-west arterial through downtown San Diego and this site benefits from the exposure of 100' of frontage along Broadway as well as 100' of frontage along 10th Avenue. Zoning for this property is Centre City Planned District - Employment/Residential Mixed-Use (CCPD-ER). Base Floor Area Ratio (FAR) for the CCPD-ER zoning classification is 6.0 with a maximum of 10.0. A bonus FAR of 4.0 could also be taken advantage of to increase to possible maximum FAR of a new building on this site to 14.0. With an FAR of 10.0, a structure of 96,030 SF could be built. Including the bonus FAR, a structure of 134,442 SF could be built. This property qualifies as a Complete Communities Housing Solutions Tier 1 site which would allow a developer unlimited FAR. Additionally, the site is located within a Qualified Census Tract (QCT) as well as within a Difficult Development Area (DDA). The East Village district of downtown San Diego is the center of where much of the proposed residential growth under the Downtown Community Plan is expected to occur and, as a result, East Village is expected to experience considerable transformation over the next 20 years. The projected growth in the Northwest sub-district of the East Village is expected to ultimately transform the area into downtown San Diego's highest intensity residential-emphasis district.

The subject property is a 1.0 acre industrial yard located just east of Main Street and north of Collins Ave. in the city of Orange. Zoning on this site is M-2 Industrial Manufacturing. The M-2 district is intended to provide for the continuation and development of heavy manufacturing industries in locations where they are compatible with and will not adversely impact adjacent land uses. Sample M-2 uses include contractor s yards, auto related uses, production/wholesale uses and storage uses. This site has no major street frontage although access is provided both from Collins Ave (from the south) and from Enterprise Street (from the east). Currently the site is occupied by five separate tenants who are all on shorter term leases. Average industrial rents in Orange County are among the highest of all major markets in the US and demand for industrial land continues to be strong in light of the low vacancy environment.

* Two Ocean View Custom Home Lots on 60.9 Acres with Amazing Ocean Views * * A Premier Development Opportunity in Coastal Laguna Niguel * * Priced at only $1,033,344 per Buildable Acre * The subject property is an extraordinary custom home development site located in the affluent coastal Southern California city of Laguna Niguel. Located at the intersection of Crown Valley Pkwy and Pacific Island Drive, the subject property consists of four contiguous parcels of land. The development site totals 60.9 acres with approximately 5.98 of those acres located in two buildable pads on the central ridgeline. This site is currently zoned for the development of a huge 20,000 SF residential estate on the 4.75 lower pad along with a 5,000 SF house on the 1.23 acre upper pad. Both of the two buildable pads have expansive views of the Pacific Ocean overlooking the Ritz-Carlton Resort and Dana Point. One major benefit of this site is the net buildable acreage of each of the pads - they are both large enough to allow a developer the ability to add additional amenities to the property such as swimming pools, a tennis court, additional outbuildings or an oversized lawn/garden and will give a new owner a unique estate property with an amazing level of privacy and virtually no immediate neighbors.

The subject property is a 1.34 acre residential development site located on Wells Road in the Arlanza community of Riverside, California. The site is generally flat and rectangular in shape with 175 of frontage along Wells Road. The property is zoned R-1-7000 residential which allows for up to 6.2 dwelling units per acre. The General Plan Land Use designation for this site is Medium Density Residential. The Medium Density Residential designation provides for the development of single-family homes, townhomes and row houses. This designation allows a maximum of 6.2 dwelling units per acre, or up to 8.0 dwelling units per acre when associated with a Planned Residential Development (PRD) permit. With a density of 6.2 du/acre, this site would support a project of 8 lots, with a density of 8 du/acre the project could be up to 10 lots. This site is located on the southern side of Wells Avenue, one parcel to the east of busy Tyler Street. The neighbor to the immediate west is the Tyler Plaza retail center and the neighbors directly across Wells Road include a church and a Montessori school. The majority of the remaining neighborhood surrounding the site is residential in nature.

The subject property is a ± 0.90 acre infill development site located at 3732-3736 Van Buren Blvd. in Riverside, California. Located less than ½ mile to the north of the 91 Riverside Freeway, this site is composed of three individual parcels of land with great visibility along Van Buren Blvd. including 221’ of street frontage. Zoning on the property along with the General Plan Land Use designation for this site is Mixed-Use Village (MU-V). MU-V allows for densities of up to 30 dwelling units/acre providing for medium to high density residential development. Retail, office and service uses at the street level can be included to facilitate a vibrant pedestrian environment. Additionally, higher residential densities are permissible for projects in this zone as the site has the potential to serve as a transit-oriented development project. Under the MU-V zoning code, proposed projects within one-half of a mile of a transit stop along Magnolia Ave. may have their residential density increased to 40 dwelling units per acre. California Assembly Bill 803 (AB 803), also known as the Starter Home Revitalization Act of 2021 was signed into law to encourage the construction of modestly sized single-family homes that may be affordable to first-time homebuyers. The subject property would qualify under this legislation, and due to the fact that the property is composed of three individual parcels, each parcel could be developed individually which would be beneficial for a smaller developer who may not have the capital to undertake a project covering the entire property all at one time. The site is generally flat and rectangular in shape with all utilities available in the street. Sidewalks, curbs, gutters, street lights and fire hydrants are already in place along Van Buren Blvd. although the site currently does not have any existing curb cuts. Riverside is a very restricted market when it comes to well-located residential development sites such as the subject property, especially in the ±1 acre range. Not only does this site benefit from advantageous MU-V zoning but it also benefits from a highly desirable location just north of the 91 freeway with great frontage and visibility along a major city arterial.

By use code: Industrial - Light Manufacturing - One Story

A 20-year real estate veteran focusing on helping the individuals and families of Southern California navigate the real estate market.  Whether buying or selling, trust experience.  My expertise is residential real estate and multi-family investments.  

Matthew Wenzel

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8 properties

Fullerton

Family Home

$4,300,000

12,200 ft²

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