Looking for Sacramento Land Developers - Best Way to Sell Land

[Wes Blackwell]

I have a client who owns 1.15 acres of land that was previously approved by the city for 5 additional lots. Although, the timing on the permits has passed, and they would need to be applied for again. But they did have an engineer draw up some plans for them already, and they still have them.

There is currently a 2/1 house on the property that's 1,300 sq ft and was built in 1948. It's dated, but clean and extremely well kept. With a little renovation and updating it'd really shine. The median home value for the zip code is $270k, but a new home around 1,500 sq ft could easily demand over $300-325k+.

My client wants to sell the property in the most profitable way possible. There seem to be several ways we can approach this:

• Sell the property as-is
• Split the lots and sell them individually
• Possible joint-venture with builder / developer
• Client does not have funds to develop property themselves

We're currently trying to determine what's the best way to market this property, so it is currently off-market. I'd love to hear some thoughts from local contractors and land-developers since you'll have a better grasp on pricing and process than a developer out of state.

Even if you're not interested in purchasing it or developing it, I'd love to simply talk shop and hear your thoughts or analysis on the project.