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$ 950,000
Est. payment | /mo
154 Acres Lot
$ 950,000
Est. payment | /mo
154 Acres Lot
Key Details
Property Type Vacant Land
Sub Type UNDEVELOPED LAND
Listing Status Active
Purchase Type For Sale
MLS Listing ID 171301
Lot Size 154.000 Acres
Property Sub-Type UNDEVELOPED LAND
Property Description
This approximately 154 acre tract of land is well laid out for development into a residential subdivision of small lots-1 to 2 acres, which each home owner drilling their own well and installing their own septic tank. It has been decades since a small lot subdivision has provided rural homesites in the Alamogordo/La Luz area. To maximize sales for the developer, the developer would offer seller financing. To increase interest income, the developer could install wells and septic tanks before they are sold, offering an opportunity to profit on their installation as well. One large drainage way passed through the property and would need to be crossed using a large culvert. This subdivision could be developed in phases, to lessen the burden on the developer, and allow the profit from one phase to be invested into the development of the next phase. An example of this type of development done well is the first subdivision on the West side of La Luz Road, as you continue North from the subject property. Electricity and Telephone follow La Luz Road, which runs the full length of the North-South dimension of this property, and would be extended to each lot by the developer. A septic tank and well for each lot would be installed by the developer or by the Purchaser, based on the developer's marketing philosophy. Seller is Broker/Owner
Location
State NM
Area 29 North Scenic
Zoning NO ZONE
Listed by Westsource Corp., LLC
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