really? It’s R1 and only 6500 sf. The value of the land is the value of the resale price for the home that can be built on it. As stuff slows, custom build will drop back below $200/sf. Builder new buildout will be in the sub-$100 range, like Phoenix and Texas.
So, you put a new 2500 sf house on this lot sucking up most of the land for the house and garage, what’s the resale going to be? $450K? That puts a pretty nasty cap on the value of the lot. Is there anything that makes this lot better than any other lot in San Diego?
