Current Market Value of a 40-acre Residential Tract

University of Central Florida University of Central Florida

STARS STARS

Harrison "Buzz" Price Papers Digital Collections

6-6-1980

Current Market Value of a 40-acre Residential Tract - Palmdale, Current Market Value of a 40-acre Residential Tract - Palmdale,

California California

Harrison Price Company

Stephen S. Watts

Part of the Tourism and Travel Commons

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University of Central Florida Libraries http://library.ucf.edu

This Report is brought to you for free and open access by the Digital Collections at STARS. It has been accepted for

inclusion in Harrison "Buzz" Price Papers by an authorized administrator of STARS. For more information, please

contact [email protected].

Recommended Citation Recommended Citation Harrison Price Company and Watts, Stephen S., "Current Market Value of a 40-acre Residential Tract - Palmdale, California" (1980). Harrison "Buzz" Price Papers. 58. https://stars.library.ucf.edu/buzzprice/58

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I I I I I I AWOodl, 1

I ...... f'RACT ". V.OOUS ~IS"'''''' .

OIl'"' ACAUC:/:

I I I I I I I I I I I I

I I I I I I I I I I I I I I I I

0"'0' '*". N . • ,." . " ... (,,' .. ",) ,,,.,,,. .. , ..... ~, C~., ......... .

May 24t~ 19~O.

"'0 ' Who," i t ~ ConCerr.

I'ro .. , J. Shelton Gordon

J . SHELTON GORDON R~AlTOR

• O. &Ox ....

...... " •• u . CAUr""",' AU,, • 1'0 en ACRES

Subject , Potential offe r by prospective buyor to r.

~"'<>E"'" n o w .. " ............. I-I"','''''' ... ....... Col," •• " "",

for forty a~roc plu~ or .. inus being a port ion of lo t one I n Section J . T-5-N , R-Il-II . S , B.M.

This 40 ac..., ~ ~ or _ just ""st of tho Palmdale t.&ke Is j u s t east of th"

Antelope Va lley Freeway and on the north side of Eas t Barrel Springs Road .

The Tentative Map ha s been prepared showing t he po s " l bili ty of )6 ac re

building 31 t03 of approxlmatciy one a cre each .

It 12 ""ti"",t~d that to finish up the tentati v" .... P and get out thO

flnal ""'P the cost would be appro x i .... tely _ ___ ____ __ __ _ _ $75 . 000 . 00

To j)\Jt in tho ~ontoured ~~r .. eto , ~h~ utilIties and atake out tU par<>els

and provIde drai"a~e to ~ati3fy the County is . s U .... t ed a t a pproximately ___________________ ___ ___ _____ ______ _____ $760 , 000 , 00

To oo"pl~ te the cngi neerin.o: .. nd get the _po a pprove d r eady to

actua lly ~o t~~ ~~reQt W<l r'; and utility WQrk it would t ake about

t WQ years . All e~ti .... t"~ a ,·~ of COUr~ 8 a ppr oxima te , sub j ec t to engineering.

J~ par<>els at at least ~~O , OOO , OO eac h equ a l s grQss ___ $2,660 , OOO .OO

The real PrQri t "ould be In the w ild i ng and sale of rine r es iden ce :} .

wh ich could b dMO direct or ~ Joint ven t ure .

If the potential royer is interested I will be pleased to IlUbmlt an offer

---------------------------------- -- --- ------------ $600, 000 . 00

A c a shiers choc~ or :tr,O,OOO.OO ""de out to the \IIes~om Mu t ual Escro ... Co r p

I of Pal"dale " Ill be acceptahi<- . '1'0 sho .. the a e ile r t hat t he wye r Is In earTleat and with which to ol'cn up the escrow. '1'ltle poliCy wi ll be with

I the '1'1 tie IHourance and '1'1"ll~t Co Inc .

Yours very truly J . Shelton Gordon

I

I t' .. ~.

.. , .. H s, ,, . ...... ( ... " .. ,."""

J SHELTON GORDON RU ,LT OR ~l" 1)0. "" •

U . ........ ........ _ 1000,.,,·,..,. I ....... ~ """ "N, ,,.'0

. " 00 .... '~.ooo~c' , c"."a_N'''' OJ" •

EIGHTY ACRf.S

.. ,_.~. " .. ,' ..... ""0

I " J.:1 2H h 1 9~O,

To, Wh O. H aay con" • .."

I Pro Ol , J . Shelton Go rdon

S~~l.c t , Poten ti a l offer by pr''' p'etive bu yt .. for

I I

Tll h ~O ac r u o f land 13 10e a ted on t he south ddt o f 8& ..... 1 Sl'ri n, . Road

bt . ... . " Kl Cu ,l no and t i e rra Sub i d.a In Ana Ve rde Hi lla, Pa ' edal. Califo rnia.

The Unudva • • 1' h .. ~.n prepa r e<! and nO>l Ie r • • dy fo r the final ".1' I .... r~ t he Lo. ""ad .. Coun t y r.qulru .

I I I I I I I I I I I

The u n la t ha "I' aho ws 6'1 bea" t H'IIl one a cre 1'*"".18 . Ea"h one laid ou t a" tlln nch tluyer lieu a I"'no r •• le v ie., of Anee l o,.. " aU"J' .

It h htl raa ted t hRt t he cost t o fin ish up t he flne l .. ap an d the on , lneerr ln[ t hat loee with I t .... u ld be abOu t ______ ________ _____ _ • • ____ _ $150 . 000.00

1'0 pref*re t he land into bulld lnc a H u r eady t.o build upon , I he cost o f t he _uh e eer t h .... rk and the coe t o f con tou .... d stNeta

unde r Sl"<lund utlli tl u and I ndh lduel l o t au l"Y e,.ins .auld pl"<l bally e-aun t 10 • aUM of a pprox l_ t e ly ____ ___ __ ____ _____ ___ ___ .3 . 500 . 000 . 00

To s et ..... dy 10 build ho", .. on t hh pro""rt,. .auld t.k. f roa I .... 10 th r ee

y .. r •. The devel0f* r f eele IMI the l o U would to. .ar th .1 leut $100,000. 00 ee ch. lleklns . totel • • l ea pr i ce o t ___ ____ ___ $6, 900 , 000.00

The r nl profit of cou .. ~e " ill be In act u. lly In Bulld lns t h .. r esi dences.

This could 1>0 dan' b)' joint venture ,.Hh t M pr es .. n t deve l ope r o r o r ao ... o t her cOMp,oteble . .. rans"_nt. BaU_tea . .... epPl"<lx l_t. a .. bJ.c t t o ,nsl nea r .

If t h .. potenU.l buy .. r Ie Inl ..... at .. d I " Ill be p1 ... ~e d Ie eccept an offer fo r the lllfld a . h fe r I h .. "" .. of _________ ____ • __ $1. 000 , 000 . 00

A cuMer ' s c hec ~ for $ 100 . 000 . 00 _ de 01'1 10 th~ Wu t e rn "' t ... l Eaerow Co r po r e tl on o f PalMdale .. Ill be .ccept.bl e to a how thfl pr.""nl o"". r thet the buye r is In ,.rneat and with which to open up th' u.row. TIU,

I'olley "Ill 1>0 . Ith Ihe Tltl .. Inll\l""".O and TN81 Co l ~o.

Slnce .... l ,. ,.o .. r~ . J . Sh .. lton Co r<l on


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Documents

Current Market Value of a 40-acre Residential Tract