3 ms·
1-acre is pretty massive for a plot of land in the downtown core of the city. It can fit an entire apartment complex. The sale value is extremely high so the $1
by TimPC 4y ago
1-acre is pretty massive for a plot of land in the downtown core of the city. It can fit an entire apartment complex. The sale value is extremely high so the $1 million in revenue isn’t that attractive given the cost of holding the land.
- Retric 4y agoI mean there’s a reason we build buildings, that’s hardly in doubt. The point was simply that even seemingly undeveloped land in or near the urban core can be generating a respectable income stream and then after N years the land has also appreciated. This is especially appealing in the event of a presumably short term glut of residential and or commercial properties/zoning issues. Also, an acre with parking attendants doubles the number of cars so they could be clearing close to 2 million before expenses, and attendants aren’t that expensive.