OFFERED AT $1,995,000 — $43,370 PER ENTITLED DOOR THE PRICING BASIS The right metric here is price per entitled door, not price per acre. The raw-acre lens by design omits the entitlement, the frontage utilities and the in-place income that make up most of the value. At $1,995,000 across 46 approved lots the basis is $43,370 per door — at or below the $50,000 to $70,000 that shovel-ready Pacific Northwest townhome sites have historically commanded. Carrying the full confirmed Advance Finance District assessment into basis still lands near $46,024 per door, below that historical floor. COMPARABLE SUPPORT Unentitled corridor and submarket land has traded between roughly $69,000 and $226,000 per acre — 600 Roguelea Ln at $69K/ac (01/26), 2493 Williams Hwy at $177K/ac (07/24), 2020 SW Allen Creek Rd at $182K/ac (03/26), and the Aurelia site at 1191 W Harbeck at $226K/ac (10/25). The subject's $556K per acre sits above that band for reasons that lens cannot capture: 46 approved doors, municipal mains at both frontages and in-place rent. The county assessor values the land at roughly $645,000 — the distance from that raw-dirt floor to the ask is the entitlement, the utilities and the income. On the retail side, resale townhomes fifteen to twenty years old close at roughly $205 to $213 per square foot, while the only new-construction product in town asks $218/SF at $450,000 — supporting a sellout band of $345,000 to $445,000. THREE EXECUTION PATHS Merchant build and sell. 46 townhomes at the sellout band above against hard costs of $165,000 to $210,000 per door plus soft costs, supporting a gross margin in the mid-30% range. Absorption over 18 to 30 months is the largest sensitivity. Build to rent. Stabilize 46 doors as one community. At rents of $1,950 to $2,350 per door and 38 to 42 percent operating expenses, NOI runs roughly $634,000 to $715,000 on total cost of $10.5M to $13.2M — a 5.4% to 6.1% yield on cost, above sub-5% core product. Entitlement resale. Complete the plan revision and final plat, hold on rental income, then market the permitted site at a step-up basis against that same $50,000 to $70,000 per door range. This path must run on the front of the hold given the plat deadline. All figures above are illustrative underwriting frameworks, not projections or guarantees, and should be verified against recent Rogue Valley closings. WHAT THE BUYER INHERITS A typical entitlement of this kind consumes 12 to 18 months and $75,000 to $150,000 in soft costs before a shovel touches dirt. That calendar and that capital are already spent and convey with the land. For most buyers the compressed timeline is worth more than the dollar figure — schedule risk converted into sunk cost. ADVANCE FINANCE DISTRICT — CONFIRMED IN WRITING City of Grants Pass Community Development confirmed in writing on July 24, 2026 that the West Harbeck Road Improvements Advance Finance District (TR4571; Resolution 4935, finalized by Ordinance 5364, amended by Ordinance 17-5710) applies only to 2024 Williams Hwy, capped at 10 dwelling units, and 815 SW West Harbeck Rd, capped at 21. There is no Advance Finance District on 2050 or 2090 Williams. The assessment is $6,167.64 per dwelling unit plus 1.78% interest from May 3, 2017 for the first ten years and 0% thereafter — a current total of $7,180.96 per dwelling unit as of July 24, 2026, fixed near $7,265 once interest ends in May 2027. Imposition occurs at building-permit issuance, not at final plat. As the plan is approved that is roughly $122,000 across 17 of the 46 lots, and 29 lots carry no assessment at all. The ordinance ceiling, if every capped unit were assessed, is approximately $223,000. The charge is separate from property taxes and is not included in the asking price. The City's written confirmation is in the diligence file; buyers should obtain current payoff figures at permit time. DISCLOSURES AND BUYER WORKSTREAMS Revised tentative plan. Three engineering conditions require a revised tentative plan before the City issues a Development Permit — individual meters and sewer laterals per lot, 26-foot fire access versus the 24 feet drawn, and drive-aisle geometry. One coordinated Gerlitz revision resolves all three; none has been submitted to date. This does not reopen the land-use approval. West Harbeck sewer main. The existing main is older short-section concrete pipe. Public Works notes compliant new laterals may require a new main in the street or an on-site public main alternative. Both should be priced in diligence. Horizontal costs. No architectural plans, revised civil plan or cost estimate exist as of this listing. All three are buyer-side scope, reflected in the per-door price. Plat deadline. Tentative approval is void if the final plat is not approved by approximately January 27, 2028, and the code authorizes no extensions. ODOT and district items. A private approach permit for the Williams Highway driveway, ODOT approval of drainage calculations, a Miscellaneous/Utility permit with 30-day cultural-resource notification for right-of-way work, and capping of the Grants Pass Irrigation District line if the site is excluded. Zoning. Three parcels are R-4 and 2090 Williams is R-1-8; the 46-unit count relies on City-concurred minimum-density averaging. Confirm zoning and the recording mechanism in diligence. Taxes. 2025 property taxes are $8,675.16 across the four parcels. TRANSACTION STRUCTURE Five sellers across three ownership groups, acquisitions spanning 2001 to 2011, all signed to a single listing. Special Listing Condition, Third-Party Approval: any offer requires all five sellers' approval, coordinated through the brokers as one counterparty. One transaction, one closing date, no assembly risk. Submit a letter of intent or offer through the listing brokers. On acceptance the NDA-gated deal room opens with the Director's Decision and exhibit record, the Gerlitz engineering set, title, the four leases, the ODS, tax records and the City's written AFD confirmation. Diligence 30 to 60 days; closing 30 to 45 days following. Cash or conventional financing. The sale conveys all four tax lots, the improvements, the full MHLD entitlement work product, and the four leases with deposits totaling $6,175. SHOWINGS AND ACCESS Four units are tenant-occupied. Please do not contact, approach or disturb tenants, and do not enter any parcel without an appointment through the listing brokers. No interior showings prior to an accepted offer; interior access is arranged during the inspection period with 24-hour written notice to tenants. Information herein is from sources deemed reliable but has not been independently verified by the listing brokers. Buyer and buyer's agent should conduct their own due diligence and verify all information, including entitlement status and conditions of approval, zoning, density, utilities, assessments, SDCs, income, leases and development costs.