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Mahogany I designed in 1996. now selling for $1.5 million.
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3 car garage in Irvine selling for $1.5 million
Both have same footage similar size yard
They are both resales. Lot sizes are similar as well. One is narrow and deep the other is wide and shallow.
Those of you are trying to apply land mathematic made the wrong assumption I was not referring to new homes.
Mahagony lot width is 60'x150'=9,000sf. The street and Right of Way in front of the home is 60'x57"=3420 sf. The total land used for home and street was 9,000+3420=12,420 sf. Mahogony lot is 1,000 sf bigger
Standard Pacific's Summit project is 80'x100'=8,000sf. The street and right of way in front of the home is 80'x57'=4560 sf.
The total land used for home and street was 8,000+ 4560=12,560 sf. Summits lot is 1,000 sf smaller because the 1,000sf was wasted for the longer street.
Value of the homes are the same because developer calculate the street into the selling price. Both properties has similar yard size. Consumer get a bigger lot at Mahogany. The extra 1,000 sf in Mahagany compensates for IR's comments so the back yard for both are the same.
Both properties are currently listed for $1.5 mil.