Powers Ranch
Land
Marketing description
An excellent investment parcel in the Path of growth. Owners prefer a quicker close rather than wait for someone to entitle the land. We already have buyers who have submitted on the parts of the land but contingent upon entitlements. These deals could be transferred to the new ownership. To date we have 5 interested parties and 3 with Letters of intent.
This could be an ideal 1031 buy and flip after entitlements are completed or sell off some of the land and have a lower basis in the remaining portion. We do have complete coverage within the Letters of intent, so new owner can pick and choose the ones they would like to retain or pass on.
Recently the sales price was dropped from $35,000 per acre to $17,000 per acre. In order to allow the new buyer a lower basis. It had previously been under contract with entitlements at the $35k per acre but dropped after the new administration took office.
Investment highlights
Move into a unique situation where there are entitlement deals on the table. This could be a buy and hold for 2-3 years as end users are already waiting to be here!
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