50% LTV Bank Owned Foreclosure for Sale Land 11 ac. zoned comml 21 ac zoned residential Start Price USD 3,800,000.00 Current Price USD 3,800,000.00 Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Friday, November 14, 2008 End Time Monday, November 24, 2008 Location Sacramento, CA See more about '50% LTV Bank Owned Foreclosure for Sale' Description Property Description:Serious professional inquiries only (please conduct due diligence prior to contacting).  Direct questions to William Summers 323-549-3612.Eight contiguous parcels of Residential and Commercial land, totaling 31 acres in Sacramento (North Highlands), California.The subject parcels are located between 34th Street and Watt Avenue, North of I Street in North Highlands, Sacramento County. Approximately 11 acres of the subject land is zoned GC and has an approved special use permit for a 121-unit townhouse development. Entitlement work is nearly complete and can be ready to develop in 60 days. The remaining 20 acres is zoned AR-1 and is approximately 180 days out from TTM. The total 31 acre project was recently appraised 9/19/08 at $6,880,000 AS-IS based on historical appreciation in this market, despite recent downturn and the value created by the parcel assemblage and entitlement work. Location Description:AREA: The subject is immediately northeast of the former McClellan Air Force Base, which is currently being redeveloped as McClellan Park, a mixed-use industrial, R&D, and business park. The community is 9 miles northeast of downtown Sacramento and 10 miles east of Sacramento International Airport. The subject is strongly supported by community leaders and the Redevelopment Agency as its prime location is within the community center.All typical community services are immediately available (schools, restaurants, retail, church, police, fire, post office).Freeway access by Interstate 80Major N/S Streets are: Watt Avenue, 16th Street Major E/W Streets are: Elkhorn Boulevard, Bell Avenue. Place a Bid!