11 lot tentative map subdivision in great area with views and greenbelt. Lot sizes range from 10,500-18000 sq. ft. The majority of improvements are in with the exception of electrical lines,cable,and telephone as well as landscaping and some needed corrections.
FILE #: PLANNED DEVELOPMENT 04-002 and TENTATIVE TRACT 2573
APPLICATION: To consider an application for the creation of an 11 lot residential subdivision on a vacant 4.8 acre parcel within the Union/46 Specific Plan Area. The Planning Commission will also be considering the content and potential application of any conditions of approval that relate to the subject application.
LOCATION: In the vicinity of Arciero Way and Tarabella Court, which is north and west of Union Road, east of the Montebello subdivision.
SUMMARY: Initially listed at $950,000 and priced at $86,363 per finished lot. Lots sit within Union Road/ Highway 46 Development plan and have roughly a $6000 per lot impact fee for a rough total of $92,000 per lot. As a bulk sale price these numbers are a bit high. Comparable lots sell in the range of $67,000 – $75,000 for a finished lot. There were 3 lots in the highlands development that recently went into escrow as Bank of America REO’s and are going to sell right around $70,000 with no impact fees. A lot also just closed for $70,000 on Kleck which is close proximity to the subject property. There are a shortage of build-able lots in Paso Robles which make this project a great long term investment.
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