Thursday, June 02, 2005

Leavenworth Acreage for development

Dear Readers,
On my other blog at I've started posting a summary of the statistics of what's going on in the Wenatchee real estate market, and surrounding areas. I invite you to check it out when you get the time.

On yesterday's "hot sheet" (which I explained on the other blog) I noticed some acreage that came on the market in Leavenworth. Leavenworth is about 25 miles west of Wenatchee and is a significant resort town. It has been transformed into a, now famous, Bavarian village. Last year (or was it the year before) A&E television named Leavenworth as the best Christmas celebration town in the United States.

Anyway, zillions of tourists go to Leavenworth each year to take part in their planned activities, but there is also tons of recreational opportunities there... hiking, cross country skiing, fishing, winter sleigh rides, summer hay rides, etc. Tourist come in droves throughout the year, filling up the town and all the motels in the area.

I noticed yesterday that an intriquing 9.49 acres came on the market in Leavenworth. It is priced at $750,000. The price seems kind of steep at slightly over $79,000 per acre BUT the zoning gives it some serious upside potential:

Zoned: RM (Residential Medium Density) This allows Planned Unit Developments (PUDs) including small single family homes, duplex, triplex, condos and/or apartments for primary residences or rentals. According to the listing sheet, the zoning allows for construction of one dwelling unit per 2,000 square feet of land space. With slightly over 413,000 square feet my fingers started jumping around furiously on the calculator. Of course, you've got to calculate parking areas, common areas, etc... but, the point is, there appears to be some pretty good profit potential with the right planning and development. It would cost some big money to develop, but I can see the potential.

That's it for today. Again, I invite you to visit, and bookmark, my other blog at:

Have a great day!

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