Developers Dream, Cash Flow $4000 a month on this large SFR while completing the lot split that is already in progress. Lot Split has been approved and is ready for lot improvements or bonding. Approved to divide the 2 acres into 9 separate lots. Earn a little while you work towards the much larger payoff after splitting the lots and selling them separately. The lot with the existing home already has a lease option buyer in place for $650,000, So you are really only paying $650K for the other 8 lots. New homes are selling quickly in this area and for top dollar. If you are looking for your next project that takes advantage of the current market trends, this is it. Joint Venture or Preferred Return Options available. Phase 1 would be to complete the improvements and sell the finished lots with a potential profit of $250,000 to $350,000 Phase 2 would be to build and sell the houses and represents another $500,000 to $600,000 in additional profit.
Listing Agent: Barry Mathis Courtesy of: EXp Realty Of California Inc The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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