Search Results

Waring Ranch Estates

Home » All Multifamily Properties » California & West » Waring Ranch Estates

Address: EAST OF CORNELL ROAD / SOUTH OF AGOURA ROAD

California & West + Apartment Buildings

Created date: November 28, 2023

Date last updated: September 19, 2024

±56 Acres of Vacant Land in the City of Agoura Hills
Subdivided into 64 Lots with the Ability to Build Up to 85 Homes
Final Recorded Tract Map #7661
Seller has Obtained a Cost Estimate for Horizontal Construction Costs (i.e. roads, utilities, grading, etc.) to get the Site “Pad Ready”
Once “Pad Ready” Buyer May Choose to Sell Each Parcel Separately for Development or Build and Sell the Homes
Seller has a Cost Estimate for Horizontal Construction Costs
Situated in the award-winning Las Virgenes School District
The City of Agoura Hills Enjoys Exceptional Demographics:
- 2023 Average Value of Owner-Occupied Housing Units is $1,127,613
- 66.2% of the Population, Aged 25 or Older, hold a Bachelor’s, Graduate or other Professional Degree
- The 2028 Projected Average Household Income is $237,391

Property Description

CBRE, as exclusive agent, is pleased to present Waring Ranch Estates, a unique investment opportunity encompassing a total of 56 acres of vacant land in the highly sought-after city of Agoura Hills, California. This pristine property boasts 64 legally subdivided parcels via recorded Final Tract Map No. 7661, comprised of seven residential lots (zoned RS) covering approximately 1.3 acres and 57 open space-restricted lots (zoned OS-R) spanning around 54.9 acres. Waring Ranch Estates provides the potential to develop up to 85 homes. The seven RS zoned parcels permit the by-right development of two main structures and two ADU structures per parcel for a total of 28 homes. The 57 OS-R zoned parcels require a conditional use permit with single-family dwelling units being a conditional use that may be permitted subject to approval from the Planning Commission. With an average lot size of 8,248 square feet for the RS lots and 41,924 square feet for the OS-R lots, this development caters to the growing demand for larger ranch-style lots in Agoura Hills. The strategic advantage lies in the fact that there is no requirement to create a new tract map; instead, investors may focus on building the necessary infrastructure and securing development approvals. A construction estimate to get the parcels “Pad-Ready” was prepared by Pacific Coast Civil, Inc., and is located in the data room website. Once Pad-Ready, each parcel can then either be sold on the market to a retail buyer, or the developer can build up to 85 homes and sell them individually. With access to the award-winning Las Virgenes Unified School District, a highly-educated populace, and exceptional income demographics, this offering presents a developer with a rare opportunity to enter a thriving real estate market with a well positioned property, offering immense potential for returns and long-term value.