How to value multi family land?

[Charles Gorman]

Hi All! I have a lead on 13 parcels of land that used to have 120 units on them. Originally they were built in the 40s and torn down in 2016. My estimate is you could get a total of 250 units on the same land with modern designing. How would you go about valuing the land for a fair offer price? Market rents for 2br 1bath would be 1400 per unit for new construction and that's conservative.