INVESTMENT OPPORTUNITY!! Seller is offering a sell-buyback opportunity on these 1.05 acres. Seller wants to develop land but not now. TWO LOTS - APN’s: 217-092-49-00 & 217-092-50-00. Address: 326 Plumosa Avenue Vista CA 92083. One lot has a 1508 sq ft 3-BR 2 bath house that is currently leased – tenant and management in place for 3 years with no late payments. The other lot is vacant. Combined, the lots are zoned for 15 units (VR-15). The worth of the finished home is $790K. The potential to build out 14 additional units is valued at $1,050,000 ($75,000 * 14). Combined value is $1,840,000. Seller is looking to liquidate equity. Willing to sell for 70% today’s value ($1.288MM). Repurchase amount depends on when the repurchase option is exercised, at no sooner than 2 years and no later than 5 years. If repurchased at end of 2 years - $1.55MM If repurchased at end of 3 years - $1.71MM If repurchased at end of 4 years - $1.88MM This represents a 10+% per year asset-backed ROI in an economy where very little is investable in addition to the $2300/mo the existing home rents for. Plenty of investor down-side protection with 30% equity cushion. Willing to consider 1031 exchange properties in lieu of cash/financing. Opportunity could be arranged as a shared equity agreement as opposed to an outright sell if more feasible. Great opportunity in an economy where very little is investable! REITs and crowdfund sites will be decreasing dividends/payouts if recession comes. Land is on the County Housing Element, an indication of its prime development potential. A preplanning meeting has been conducted and a feasibility report generated with favorable feedback which can be shared upon request. Topographical Study and Soils Report completed too. House will be razed with 12-15 new units when development is completed. New development is being directed toward North County by Planning Dept. Buyer commits to selling back to seller if repurchase option exercised. Buyer commits to allow seller to continue to entitle future development through the county and begin site work when permits are ready. Seller will NOT consider selling without buyback guarantee.
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