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Laughlin Ranch 800 Acres Commercial/Residential, Foreclosure, Bullhead City, AZ

DISCOUNTED: 75%
APPRAISED VALUE: $51,000,000
OFFERING PRICE: $13,000,000

FORECLOSURE INVESTMENT OFFERING
LAUGHLIN RANCH RESIDENTIAL / COMMERCIAL RAW LAND
BULLHEAD CITY, ARIZONA

800+/- ACRES VACANT LAND
LAUGHLIN RANCH MASTER PLANNED GOLF COMMUNITY
APPROVED FOR MIXED-USE DEVELOPMENT
BULLHEAD CITY, AZ

Appraised Value/BPO: $51,000,000
Discounted Offering Price: $13,000,000
Offered at 25% of Appraised Value

Marketed Exclusively by:
DLG REALTY AND INVESTMENTS
LAS VEGAS, NEVADA

PROPERTY OVERVIEW

PROPERTY LOCATION
Section 22 and NW Quadrant of Section 23
Laughlin Ranch
Bullhead City, Mohave County, Arizona 86429
COMMUNITY Laughlin Ranch Master-Planned Community
COUNTY Mohave
ASSESSOR’S PARCEL NUMBERS (APN)
213-13-100
213-13-006 (NW Quadrant)
LAND/AREA 2 Tracts:
640+/- ACRES
160+/- ACRES
ZONING
Low, Medium and Medium High Density Residential
Community Commercial
LAND USES
Low to Medium High Density Residential
Commercial Retail and Office

OFFERING HIGHLIGHTS

LAUGHLIN RANCH
- 12,500 ACRE MASTER PLAN GOLF COMMUNITY
- CHAMPIONSHIP 18-HOLE GOLF COURSE
- $50 MILLION COUNTRY CLUB AND WORLD CLASS DAY SPA
- LOCATED IN MOHAVE COUNTY, THE FASTEST GROWING COUNTY IN ARIZONA
- AREA RECENTLY ANNEXED BY BULLHEAD CITY
- 44,000 PLANNED DWELLING UNITS WITH SUPPORTING COMMERCIAL
- MIXED-USE VILLAGE CENTERS
- PROJECTED 25 YEAR BUILD OUT
- 3,000 ACRES OF COMMUNITY OPEN SPACE
- PHASE I IN DEVELOPMENT – 1,200 ACRES – 638 RESIDENTIAL LOTS
- PLANS INCLUDE OFFICES, MEDICAL FACILITIES, FLAGSHIP MALL, EMPLOYMENT
     DEVELOPMENT EQUESTRIAN FACILITIES, PRIVATE BEACH WITH BOAT LAUNCH,
     SHOOTING RANGE, BIKE PATHS AND BALL FIELDS

SUBJECT PROPERTY
- APPROVED FOR LOW TO MEDIUM HIGH DENSITY RESIDENTIAL AND COMMUNITY
     COMMERCIAL AND OFFICE DEVELOPMENT
- BREATHTAKING PANORAMIC VIEWS OF MOHAVE DESERT AND BLACK
     MOUNTAINS
- QUIET PEACEFUL SURROUNDINGS
- INFRASTRUCTURE TO EXTEND FROM BULLHEAD CITY
- MINUTES FROM COLORADO RIVER, LAKE MOHAVE AND LAUGHLIN, NEVADA
- SHORT DRIVE TO LAKE HAVASU, GRAND CANYON AND FABULOUS LAS VEGAS
- SURROUNDED BY BLM LAND AND OVER 60 ACRES OF NATURAL TRAILS
- JUST WEST OF FUTURE HIGHWAY 95
- OFFERING AVAILABLE AS 640 ACRE SECTION OR FOR TOTAL PARCEL OF 800 ACRES

OFFERING DESCRIPTION

Laughlin Ranch is a 12,500 acre master planned community nestled between the Colorado River and the Black Hills of the Mohave Desert in western Arizona. The community is part of Bullhead City in Mohave County. Surrounding the development on three sides are public lands managed by the Bureau of Land Management. Laughlin Ranch is currently under development with Phase I nearing completion. The premier golfing community features a championship 18-hole golf course, driving range and a $50 million country club with swimming pool, gourmet restaurant, banquet and meeting rooms and world class day spa.

When complete, after an estimated 25-year build-out, Laughlin Ranch will feature 44,000 residential units, 3,000 acres of community open space, a private beach on the Colorado River with boat launch, equestrian center, shooting range and access to over 60 miles of natural trails. Supporting the community within the development will be mixed-use village centers containing medical facilities, offices, service stations, marketplaces and specialty shops. Laughlin Ranch will also contain commercial and industrial employment developments and a flagship shopping mall. This new southwestern town is the first of it’s kind in Mohave County.

The subject property consists of Section 22 containing +/-640 acres and the northwest quadrant of Section 23 containing +/-160 acres. Section 22 may be purchased separately or with the additional 160-acre tract for a total of +/-800 acres. The property has already received approval for residential development of three to twelve units per acre as well as supporting commercial development. In addition, the 160 acre tract has a chartered easement with the Bureau of Land Management for a road easement and the future segment of US Highway 95 will be extended along the eastern side of Section 23. With the recent annexation of the property by Bullhead City and the approval of a Community Facilities District Bond, the financing mechanism are in place to provide funding for infrastructure to the property.

A portion of the property is currently in foreclosure under a Chapter 11 bankruptcy. The property will be actively marketed by DLG Realty and Investments once the reorganization and foreclosure are complete. The lender is currently accepting a limited number of preforeclosure offers and is amenable to a direct sale to investors. The offering price of the property will be increased after the real estate is conferred to the open market.

MARKET AREA

Bullhead City has earned the nickname “Arizona’s West Coast” due to the city’s breathtaking location along the shores of the spectacular Colorado River, near the junction of Arizona, California and Nevada. Bullhead City is a thriving community where striking scenic beauty provides a backdrop for a variety of attractions and outdoor recreational activities. Bullhead City is part of Mohave County, the fastest growing county in Arizona. Laughlin, Nevada, Bullhead’s sister city, is located just across the Colorado River and offers a host of activities including gambling, top name entertainment and gourmet dining. Via Routes 95, 68 and Interstate 40, Bullhead City is convenient to Lake Havasu City, Lake Mohave, Lake Mead National Recreational Area, the Grand Canyon, Phoenix, Arizona and Las Vegas, Nevada. The Laughlin/Bullhead International Airport is a full service regional airport and is the hub for Sun Airlines.

Bullhead City serves a trade population exceeding 180,000 and with over 300 days per year of sunshine and an average annual temperature of 75.4 degrees, the Bullhead City area boasts of over six million visitors a year. Tourism generates $1.2 billion in revenue each year. The median age for the population is 41.75 years and the average age is 41.2 years. The low median age of the area provides a strong source of workers as well as serving to attract corporations seeking an affordable work force. This contributes to Bullhead City’s low unemployment rate of only 3%, which is far below the natural average. Between 2000 and 2007, the Bullhead City area experienced a 21.28% growth rate and the population is projected to grow by another 13.05% over the next five years. Bullhead City’s population grew at three times the national average and is expected to continue to outpace the country over the next several years.

The real estate market is one of the fastest growing segments of the region’s economy and has resulted in the expansion of the number and variety of affordable homes in the area. This is a dynamic area for investment opportunities as vacant land in the Las Vegas Valley is becoming increasingly scarce and land prices have increased to record levels. The diminishing land supply in Las Vegas and increasing costs are making the Bullhead City area a very viable alternative for residential developers. The Bullhead City market benefits from its diversified economy, low cost of living, abundant attractions and outdoor recreational activities, temperate climate and picturesque riverside setting. These factors contribute to a strong economy and continued growth in the foreseeable future.

Contact Phone Number: +1 702-882-8657
Brokerage Name: DLG Realty and Investments

Submitted by: admin
Property ID Number: 29
Property ID Name: Laughlin Ranch
Added: Thu May 01 2008

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