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$3,200,000
Est. payment /mo
1.02 Acres Lot
UPDATED:
08/22/2024 02:23 AM
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CROC24092236
Originating Board California Regional MLS
Lot Size 1.024 Acres
Property Description
PRIME 1-ACRE VACANT PARCEL ZONED FOR MULTI FAMILY RESIDENTIAL IN CITY OF LAGUNA NIGUEL. Parcel is on Crown Valley Parkway 4.5 miles from picturesque Salt Creek Beach Dana Point, at NW corner of Central Park Drive and Parkside Drive East. Housing built on parcel will have fabulous views overlooking Crown Valley Park, Amphitheater, Botanical Preserve, and Laguna Niguel Community Center. A feasibility study to build housing was done that shows great potential for developing up to nine (9) houses of sizes between 2,100 to 2,300 sq ft. Feasibility Report shows houses built on the parcel are estimated to be sold for $15 mil to $16 mil in today's market. Development cost is estimated to be $6 mil. So there is approx $9 mil to $10 mil gross profit left for buyer/developer. Instead of developing nine houses, buyer may build fewer but larger houses. Prospective buyers are encouraged to review the Feasibility Report attached here as Supplement. Great opportunity for investors and developers wanting to build and sell houses, or for someone wanting to build few large homes for themselves and their family members in a gated community setting. This is one of a kind parcel and would not last long.
Location
State CA
County Orange
Area Lnlak - Lake Area
Zoning D2
Exterior
View Panoramic
Others
Tax ID 65408304
Special Listing Condition Not Applicable
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Listed by Zafar Mehdi • Gemstar Properties
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Sharad Gupta
Broker | License ID: 02213637
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