HONEY RUN ROAD 18.33 ACRES

POSSIBLE THREE-WAY SPLIT-PLUS

SALE/TRADE/TERMS/OPTION/JOINT VENTURE

TRADE: Property located anywhere in U.S. considered in trade. TERMS: Submit.

DESCRIPTION: Assessor map says 15.5 ac because 18.33-ac survey wasn’t recorded. Terrain is sloping typical for BCC with many home sites. Test holes show good soil depth for septic. Springs on subject & adjacent parcels show well water depth. Homes on nearly all adjacent parcels show phone/electricity location. Zoned FR-5 (5-ac min). The 3 potential 5-ac sites from the 18.33 ac will be secluded, private and elevated with breathtaking panoramic views of Castle Rock and up and down BCC, and are a good distance from traffic and neighbors. Imagine a paved road with remote-controlled gates seen in Sunset Magazine to all 5-ac parcels and you  relaxing on the balcony of your brand new custom 2 or 3-story home enjoying the breathtaking views, privacy and the peace and quiet. This is why these 5-ac parcels may be worth more than those of same size fronting on Honey Run Rd.

After producing three 5-ac sites, the remaining 3.33 ac (18.33 – 15) can possibly help two adjacent neighbors each produce an extra 5-ac parcel. AP# 017-160-015 (14.91 ac) needs +/- .09 ac to make theirs 15 ac to potentially produce a 3rd 5-ac parcel. AP# 017-170-043 (7.3 ac) needs +/- 2.7 ac to make theirs 10 ac to potentially produce a 2nd 5-ac parcel.

An unimproved 14.28 acres (AP# 017-160-014) across the street from 18.33 ac sold for $500,000 on 3/16/05 well before the market peaked. The 14.28 and 18.33 ac parcels have their +/–‘s. The 14.28 ac may flood during rainy season, doesn’t have the same breathtaking views and can produce only 2 parcels. Subject to lot split it now has a new home and large shop on 9.28 ac asking $999,000 with the remaining 5 ac also on the MLS for $183,200.
 
No recent BCC land sales we know of but a home (2298 Honey Run Rd [parcel 5]) in front of the 18.33 ac sold for $379,000 on 7/31/09 after only 32 days on the MLS. It is 2,100 sq. ft., 1987 built and on 2.4 acres. This shows 5-acre home sites from 18.33-ac are worth $175,000 today. Because 18.33 ac can potentially produce FIVE 5-ac parcels grossing $875,000 ($175,000 X 5), trades/terms will be consider and the Chico real estate market has bottomed out, $355,000 appears to be under today’s value. C.O.E. conditioned on 18.33 ac receiving 60-ft r/w.

7 adjacent parcels fronting on Honey Run Rd can give 18.33 ac access as shown on plot map. There are multiple ways EACH of the 7 can provide 18.33 ac access (e.g. buy access parcel or r/w, exchange portions of 18.33 ac [lot line adjustment] for r/w or exchange new 5-ac parcel + cash for access parcel, JV with neighbors, etc.).  One of the 7 parcels (2262 Honey Run Rd) is For Sale. It consists of a +/-1958 sq.ft. 3 bedroom 2 bath 2002 built home on +/- 4 ac. There are some things you should know before you contact them.

18.33 ac has 30 ft. r/w over south side of 2298 Honey Run Rd (AP# 017-160-005).

Trading into the 18.33 acres and home (2262 Honey Run Rd) may be more than you were thinking but you end up with a very nice home and 18.33 ac with huge upside money making potential. How much upside does your current property have? Consider JV with a friend or family member or me. After you acquire 18.33 acres and home, you can sell all or portions of the 18.33 acres to one or more of the 9 adjacent neighbors or anyone else.

Because 18.33 acres is f/c with $514 annual taxes and the many options available to owner, he is under little pressure to do anything unreasonable.

More information on the 9 adjacent parcels and how they can benefit from the 18.33 ac, copy of 18.33 ac survey map and Butte Co. and MLS records showing 14.28 ac (Ap# 017-160-014) sold for $500,000 on 3/16/05 and 2298 Honey Run Rd [parcel 5] sold for $379,000 on 7/31/09 are available upon request. Provide your email address and we will send you many photos of this BCC neighborhood, the 2 homes for sale and the one that sold.

OWNER: David M. Hector