FOREBAY ESTATES 122 TENTATIVE LOTS OROVILLE, CALIFORNIA
LOCATION: The subject property is situated on the north side of Nelson Avenue just west of Highway 70 in the City of Oroville. Oroville is situated approximately seventy (70) miles north of our state capitol, Sacramento.
ACREAGE: According to the attached assessor parcel map there is 40.18 gross acres. During the tentative map approval process, the design engineer determined the property to be approximately 39 acres.
ENTITLEMENT: The subject property has been entitled for 122 single family residential lots. The tentative map was originally approved by the Oroville Planning Commission on August 29, 2005. The tentative map is known in the City of Oroville as Tentative Subdivision Map (TSM) 04-03. (See attached map).
IMPROVEMENTS: There are currently no improvements on the subject property. We have an engineer’s estimate on the development costs of Phase One consisting of 60 lots equating to approximately $35,000 per lot.
PRICE: $1,700,000 ($13,934 per paper lot).
COMMENTS: The housing market which had its greatest correction since the Great Depression is now showing signs of a strong recovery. At this time there are multiple offers on most reasonably priced homes and the inventory of homes for sale is extremely low. The property has a desirable location with the Oroville Forebay just to the north and Nelson Avenue School on its southeast corner. Please call us for more details on this unique investment opportunity.
For more assistance on this property, please contact:
Pat Laughlin firstname.lastname@example.org
Cell Phone (530) 751-6744
Call Stromer Realty (530) 671-2770