I have just listed a 4.96 acre, south west residential Las Vegas land for sale. This parcel is currently zoned for 2 homes per acre, however the master plan is 8 homes per acre (RS) and since all of the surrounding parcels are zoned 8 homes per acre, the zone change is going to be easy.
Aerial View of the parcel which is located about 1200 feet from Shelburne Ave and Rainbow Blvd in S.W. Las Vegas
This parcel is less than 1200 feet from the Rainbow Boulevard in Pinnacle Peaks which is within the Coronado Ranch and is within the walking distance of Nevada Trails and easy drive to hospitals, shopping centers and less than 2 miles from high way 215 and Rainbow Boulevard interchange.
American West Homes is building and selling homes on the adjacent parcel in the Kings Bridge sub division. These homes are built on 3K-4K lots and selling for $219k-$295K as starting price.
Foreclosed homes which are larger than 2300 square foot are selling for $225,000-$295,000 in Las Vegas MLS. Although there are a few subdivided parcels around my listing which have not built yet, Kings Bridge is selling 1-2 homes per week and due to increasing activity in new homes sector, these parcels could be built out in short order.
The net acreage for this S. W. Las Vegas land is about 4.05 acres, this means 32 homes could be built on this parcel which brings the price per door to about $46,000 as you can see there is a lot of room to make a god profit on the homes which will be built on this parcel.
This parcel is located at Sonata within Pinnacle Peaks in S. W. Las Vegas within walking distance of Nevada Trails, easy 10 minute drive from the world famous Las Vegas Boulevard (Strip)
Foreclosures have taken a big toll on the vacant land prices in Las Vegas. I tell those land owners who call me to list their parcel that asking price for their parcel have to realistic and reflect the price reduction due to foreclosures. Many of these land owners decide not to sell their parcel now and wait a few years for a price increase and I don’t blame them a bit, however the owners of this parcel agreed to the realistic pricing that I suggested to them or I would not be listing this parcel.
I truly believe in cooperating with other Las Vegas real estate agents and have cut my own commission in order to provide cooperating agents with a generous 3.25% commission while most like properties only offer 1.5%-2.5% commission to selling agents.
People usually don’t believe in something unless it is reported in some sort of news outlet and the latest land news in Las Vegas is that residential vacant land like this with zoning like RS (8 units per acre are getting a lot of action.
The following is from RJ.
“Las Vegas Real Estate: Homebuilders hunt for land. Las Vegas one of areas with falling prices. Las Vegas Review-Journal 11/07/09. But now Las Vegas homebuilders are on the hunt again, vying for choice parcels even in foreclosure-riddled markets such as Las Vegas, Southern California and Orlando, Fla., where prices are cheap and there are early signs of a recovery. It was primarily investors buying lots in Las Vegas for the past two to three years. Since August, major builders such as KB Home, Richmond American and Harmony have jumped back in the game.”
This parcel of land can make someone a lot of money, so, Please call me at 702-478-7800 for more details. Masoud
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