lets go from the ground buying 1/2 city block 125’x400’ 4 different owners
asking price total assessed value in 08'
1st $450,000 20% carry 3years $170,900 second hand store
2nd $600,000 $119,800 old "bar&lounge"
3rd $550,000 $210,000 old single story
4th $450,000 20% carry 3 years $124,000 parking lot
i see pipe dreams? as far as asking price.
the property is within the urban renewal zone. designated for highdensity housing. can go as high as 56' main roof leval. my plan is to take it 4 storys 12' each and around 100 units total. with an average of 1000sqf per unit. $550 all utilites payed.