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MY "CAN ADDS," more information… |
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§ 73 Acre Multi-family & Single Family Development Land… 73 acres of ready-to-develop single or multi-family housing land. Will sell 75% or more of the corporation that owns the land. Potential for 220 single family lots with market comps of $25,000.00 per lot. Site would support homes with average sales price of $150,000.00 or $33,000,000.00 total sell-out rendering the builder/developer a $6,600,000.00 gross profit. Alternatively, the site would yield a builder/developer 803 apartments or condos (11 units per acre) with an average selling price of $50,000.00 per unit for a total of $40,150,000.00. Also, sold or leased as life estates for elderly residents, sales with a 10-year average tenancy to be resold or re-leased every 10 years. The average unit cost would be $25,000.00 or $20,075,000.00 cost per 803 units.
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