Cozy Acres is a unique property collaboration between Cozy Home & Engineering LLC and The LAB horse LLC to offer rental homes (to humans) and boarding (to horses) on an ideally located 44+ acre property in Castro Valley, CA.
Target property is $1,650,000; however only $650,000 is sought to cover the down payment.
According to the Association of Bay Area Governments, East Bay and Silicon Valley remain the most sought-after real estate markets in the region. East Bay has a strong rental market, year over year.
As for equestrians, the Bay Area Equestrians group has over 2,400 members; while the East Bay Chapter of the California Dressage Society has over 500 members in their database.
According to The US News and World Report, rental prices in the East Bay have remained stable since 2018, with a 0.1% increase in rent price forecasted for 2023-24.
For equestrians, the American Horse Council’s 2018 Economic Impact Study, the US horse industry contributes $50B in direct economic impact to the US economy. Within the East Bay equestrian community, the price of board across the region has increased 33%+ since 2021.
As the property is zoned mixed use - residential and agriculture - we plan to monetize the property through both avenues.
House Rentals:
Within the 44+ acre parcel, there are 4 lots; 3 of which have structures on them. New construction is permissible on the main parcel and the 4th lot. We are also permitted to construct a 40,000 sq ft warehouse, a main house up to 4,000 sq ft and a guest house on the large parcel and a house up to 1,500 sq ft on the 4th lot.
House rentals: Rent on similar Castro Valley properties range from $2,900-$3,600 per month
Horse Board & Bodywork:
Within the East Bay equestrian community, there is a need for retirement and pasture board for horses who are aging and/or injured. Additionally, there is a need for a centralized facility with a focus on holistic equine wellness and rehab where educational seminars and events can be held. [Equitopia Center in Thornton, CA is the closest facility and well-received.] We have a list of people who would like to keep their horses at the property or use it for multi-day seminars.
Pasture board rate: Profit of $500-750 per horse anticipated; per county rules, up to 88 horses may be kept on the property
Board + Bodywork + Instruction Rate: $2,000/month per horse
Warehouse: A trucking company, construction company and pet bedding company have expressed interest in renting warehouse storage from us.
Through our professional experience, we have a ready-to-go construction crew to get started on the remodels and property development and a wide network of local equestrians who are looking forward to a property within East Bay that they can come to for educational events, retirement and layup boarding and otherwise enjoyment of their horse(s).
Due diligence is something we take very seriously. To that, we have already consulted with three Alameda County departments about the property - what is permissible (and not), permits and utilities. We have also consulted with two local lawyers about easements and water rights, given the one neighbor situated within the parcel. We have also walked the property and met with the listing agent; the agent who represents us also has prior knowledge of the property and its suitability for the local equestrian community and rental market(s). From our conversations with the listing agent, we have a pretty good idea of what type of deal the seller is looking for - and why the property has not already been sold. [However, we do not currently have the property under contract.]
Our team has successfully completed 8+ residential and commercial real estate projects around the Bay Area, including remodels and new construction.
Additionally, our team has worked in every corner of the equine industry - from farm management to equine sales and bodywork - and intimately knows what it takes to have a positive cash flowing business.
Construction and Rental Experience:
Long and short-term rental experience: SFH and ADU in Oakland, CA (since 2017; cash flow positive)
Relevant professional construction experience:
- Employed FTE construction project manager (residential and commercial), 2016-present
- Relevant projects: Oakland, San Francisco, San Leandro, Palo Alto, Portola Valley, Emerald Hills, San Mateo, Orinda
- Commercial real estate experience: Marriott Hotel (Pacifica) and apartment complex (Fremont - just starting)
Relevant Professional Equine Experience:
Managing horse farms & boarding facilities:
Creekside Farm (14 horses), Olympia WA 1999-2003
Schwartze Hof (150 horses), Verden an der Aller (Germany) 2008
Donida Farm (50 horses), Auburn, WA 2010-2012
Instruction & Training experience:
Solerno Dressage, WA 2009-2014
Two Pillars Farm, CA & FL 2018-2021
Clinician, US & Spain 2019 - Present
Bodywork & Rehab experience:
Rehabbing horses (personal & professional) 2009 - Present
Professional equine bodyworker 2022 - present