Buying land then building a 4plex in fresno ca
Ive came across a lot for sale $214k its 1/3 acre lot that has approved but expired plans for a 4plex. Each unit is about 1400sf with 3bedrooms 2baths and a garage. It states that 80k in development fees are included in the price for the lot. Also states that the city of fresno will honor all fees paid. Only school fees need to be repaid. So my question is does this seem like a feasible idea as i came to think its about $140 per square feet for this area to build..(could be wrong) so would a construction to perm loan be a good idea?
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I was wondering if it was in Pinedale also ... that would make a difference- I have always maintained that it could be a great location if enough investors got behind it and started to rehab the area .. I've even seen a few projects already started .... if you want to build in opportunity zones - take a look at the Better Blackstone Project - they are proposing to provide incentives for investors willing to build high density housing in the area