See all 7 photos
$3,200,000
Est. payment /mo
1.02 Acres Lot
Pending
29763 Crown Valley Pkwy-Central Park Dr & Parkside Dr E Laguna Niguel, CA 92677
UPDATED:
09/30/2024 06:35 PM
Key Details
Property Type Vacant Land
Listing Status Pending
Purchase Type For Sale
Subdivision Park Niguel (Pn)
MLS Listing ID OC24092236
HOA Y/N Yes
Lot Size 1.024 Acres
Acres 1.0239
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 Residential Multi Family
Interior
Inclusions Feasibility Report to develop housing on the Parcel attached as Supplement
Fireplace No
Exterior
Community Features Urban
View Y/N Yes
View Panoramic
Building
Lot Description 6-10 Units/Acre
New Construction No
Others
Senior Community No
Tax ID 65408304
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Zafar Mehdi • Gemstar Properties • ZMehdi1@gmail.com