I think they are pretty proud of this one, but it wouldn't surprise me to see it sell at or near this price. There is just so much cash trying to get into hard assets. Seller lives in Hermosa Beach, CA according to county records. Here is the CAD map search if this link doesn't take you directly there search for APN 19714, they have a really high res aerial. Not a lot of recent (2 years) sales of parcels this big in that area but here is what I'd say.
Low comp does not have well or power on it and the access roads look a bit less maintained but is similar type acreage otherwise is pending for $2777/ac based on the list price, not sure what it actually sold for. Your subject property is definitely higher PPA than this one IMO.
I would consider the Whitetail Properties recently sold property above as a somewhat comparable property due to the limited amount of sold properties we can see, its different terrain and further from the subject property than the other two. That property was 96 ac of NW Uvlade Co hunting land with electric, a cabin and very good CR 415 access. It sold for about $4k/ac.
High comp here is looks to have power to at least two property lines and has high fencing on parts. This is an active listing at $9000/ac which feels too high for that size of property. This one is closer to Concan which does give it a premium over the rest of the county, I'm not sure it's that much more valuable and it's nearly 300 days on market. There was a big reduction March 4th and then jumped right back to the original PPA a few days later. Strange.
Those three give you a $5259 average retail PPA vs this listing at $5850. I would venture the guess they are fishing with that price and don't mind it sitting for the right buyer. If I was mailing an offer to this property I'd use $5250 as my retail price per acre.
Low comp does not have well or power on it and the access roads look a bit less maintained but is similar type acreage otherwise is pending for $2777/ac based on the list price, not sure what it actually sold for. Your subject property is definitely higher PPA than this one IMO.
I would consider the Whitetail Properties recently sold property above as a somewhat comparable property due to the limited amount of sold properties we can see, its different terrain and further from the subject property than the other two. That property was 96 ac of NW Uvlade Co hunting land with electric, a cabin and very good CR 415 access. It sold for about $4k/ac.
High comp here is looks to have power to at least two property lines and has high fencing on parts. This is an active listing at $9000/ac which feels too high for that size of property. This one is closer to Concan which does give it a premium over the rest of the county, I'm not sure it's that much more valuable and it's nearly 300 days on market. There was a big reduction March 4th and then jumped right back to the original PPA a few days later. Strange.
Those three give you a $5259 average retail PPA vs this listing at $5850. I would venture the guess they are fishing with that price and don't mind it sitting for the right buyer. If I was mailing an offer to this property I'd use $5250 as my retail price per acre.