Special offer

1.25 Acre Bank Foreclosed Land Opportunity, Lake Lot!

By
Real Estate Agent with Icon Real Estate

1.25 Acre Bank Foreclosed Land Opportunity, Lake Lot!

 

Location: 11425 Dans Place Montgomery, TX 77316

Subdivision: Grand Lake Estates

List Price: $59,995

Estimated Future Value: 80k-90k+

Lot Size: 1.25 Acres

Risk Level: Low

Subdivision plat and pictures are on file 

This is a bank owned foreclosed lot! The seller, Houston Community Bank says, "we will finance this lot at 3.99% with approved credit, bring us an offer!" The bank will evaluate any and all reasonable offers. I'm sure many will ask me, "how low of an offer can I get away with?" All I can say is send me an offer and lets see what happens. Don't wait until it's too late to jump on this investment opportunity. This property backs to a man made lake that hasn't been completed yet. There were some past issues with the development company, but apparently the issues have been resolved as the development company has sold off the remaining undeveloped land to a different developer. The development co now has plans to finish all of the manmade lakes in all 13 sections of Grand Lake Estates, including the lake behind this 1 1/4 acre lot. The Gary Player Golf Course is under new management and is currently being renovated with a new club house/driving range. (completion spring 2010) Once everything is complete, the value of this property could potentially double. The HOA has just been taken over by the homeowners in the subdivision and is no longer under control by the development company. Please contact us at 281-296-6226 or larkin@houstonicon.com for additional information (including sales comparable's and investment evaluation) or if you have any questions at all.

This is the type of investment that is a little speculative but you really can't go wrong with a land purchase. I can see this one paying off in 3-4 years.

Icon Realty Group, LLC is an independent real estate brokerage servicing Suburban North Houston, including The Woodlands, Spring, Conroe, Magnolia, Tomball, Cypress, and the surrounding area. Primary services include home purchases, residential home sales, leasing, investing, and property management. To learn more about us and the services we offer please go to our website at http://www.houstonicon.com/

Comments (0)