120 La Luz Road

Potential Uses

Residential - Subdivision

Property Description

This approximately 154 acre tract of land is well laid out for development into a residential subdivision of small lots-1 to 2 acres, which each home owner drilling their own well and installing their own septic tank. It has been decades since a small lot subdivision has provided rural homesites in the Alamogordo/La Luz area. To maximize sales for the developer, the developer would offer seller financing. To increase interest income, the developer could install wells and septic tanks before they are sold, offering an opportunity to profit on their installation as well. One large drainage way passed through the property and would need to be crossed using a large culvert. This subdivision could be developed in phases, to lessen the burden on the developer, and allow the profit from one phase to be invested into the development of the next phase. An example of this type of development done well is the first subdivision on the West side of La Luz Road, as you continue North from the subject property.

Property Size

Approx 154 Acres

Price

$950,000

Utilities

Electricity and Telephone follow La Luz Road, which runs the full length of the North-South dimension of this property, and would be extended to each lot by the developer. A septic tank and well for each lot would be installed by the developer or by the Purchaser, based on the developer’s marketing philosophy.

Zoning

NO ZONE

Access & Easements

This property is on Laz Luz Road (the northerly extension of N Florida Ave), 1/4 mile North of its intersection with US HWY 82. Approximately, 20 Acres is located on the East side of La Luz Road, and approximately 135 Acres is located on the West side of the road and extends almost 1 mile West.

Flood Zone

YES

Seller is OWNER/BROKER