In My Neighborhood in 90042>Question Details

Diane, Other/Just Looking in 90042

Im thinking about subdividing part of my unused lot behind my home. What is the market value per square footage?

Asked by Diane, 90042 Tue Jun 1, 2010

I have a next door neighbor who is eager to purchase a partial of my unused lot and I've checked with the City of Los Angeles and they told me it was possible to do. I just need the market value per square footage to have an idea before making a deal with my neighbor and arrange the city to do their part. Can you help me?

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Answers

2
Is your property on a double lot, two separate parcel numbers?
If so, it will be easier to find comparables and sell it as a vacant lot with its own parcel number.
subdividing? please consult further with the city.
Web Reference: http://www.MyrnaAveria.com
0 votes Thank Flag Link Sat Oct 2, 2010
First, is the portion of your lot that you are going to sell a full buildable size lot with no variance required. If it is, then go to a local realtor, county or local assessor where sales are recorded and look up recent lot sales in your neighborhood. This comparison method will leave you with no doubt. If the lot is not sufficient to be built on, just a portion that a neighbor wants, it will be worth far less then a buildable lot. Use the same method as I described above but compare them to only non-buildable partial lots. They sell for far less then a buildable lot. Depending on your area and market demand, several mediums of measurement could be utilized. Price per acre, price per front foot, and price per square foot. Good luck, it is not hard.
0 votes Thank Flag Link Thu Jun 10, 2010
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