Transforming a Stagnant Trust Property Sale into a Family's Victory
Over two years unsold. Then $2,200,000.
A family sold a vacant lot in the City of Orange, held under a Family Trust. The site, home to their family business since the 1980s, was mass-graded and rezoned Residential R3, Low-Medium to Medium Density at 6 to 24 DU per acre, after the business was sold. Despite over two years on the market, it remained unsold.
After meeting with the family to understand their goals, shaped by their 90-year-old father's recent cancer recovery, and updating them on market conditions and setting realistic expectations, multiple offers were procured, including a standout from a local developer with swift terms.
Home to the Family
Business Since the 1980s
A vacant lot in the City of Orange, held under a Family Trust. The site had been home to their family business since the 1980s.
Mass-Graded
and Rezoned R3
After the business was sold, the site was mass-graded and rezoned Residential R3, Low-Medium to Medium Density at 6 to 24 DU per acre.
Over Two Years
on the Market
Despite over two years on the market, the lot remained unsold.
Understanding
the Family's Goals
We met with the family to understand their goals, shaped by their 90-year-old father's recent cancer recovery. After updating them on market conditions and setting realistic expectations, we procured multiple offers, including a standout from a local developer with swift terms.
$2,200,000 and
a 1031 Exchange
Following negotiations, the family chose a $2,200,000 offer for a quick close to secure income for their father and the trust. The family was then able to complete their planned 1031 exchange into a California rental property, ensuring steady cash flow for the trust's future.
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A Rezoned Family Lot in Orange, Two Years Unsold
A vacant lot in the City of Orange, held under a Family Trust. The site, home to their family business since the 1980s, was mass-graded and rezoned Residential R3, Low-Medium to Medium Density at 6 to 24 DU per acre, after the business was sold. Despite over two years on the market, it remained unsold.
Repositioned for Developers, Closed Into a 1031 Exchange
We met with the family to understand their goals, shaped by their 90-year-old father's recent cancer recovery. After updating them on market conditions and setting realistic expectations, we procured multiple offers, including a standout from a local developer with swift terms.
Following negotiations, the family chose a $2,200,000 offer for a quick close to secure income for their father and the trust. The family was then able to complete their planned 1031 exchange into a California rental property, ensuring steady cash flow for the trust's future.
Land that has been rezoned rarely sells to the buyer who passed on it before. If you are a trustee or an attorney holding a parcel that will not move, we can read the zoning with you.
Commercial Real Estate705 W Fletcher Ave, Orange
Vacant Lot · Orange, CA · Family Trust SaleA vacant lot held under a Family Trust, home to the family business since the 1980s and mass-graded and rezoned Residential R3 at 6 to 24 DU per acre after the business was sold. Unsold after over two years on the market, it drew multiple offers and closed at $2,200,000 to a local developer with swift terms, followed by a 1031 exchange into a California rental property.
Navigating a probate or trust property?
A trust selling land is pricing the entitlement, not the dirt. Send us the parcel and the zoning, and we will tell you what a developer would pay for it.
Results reflect a specific property and market conditions at the time of sale. Individual results vary and are not guaranteed.
This content is for general information and is not legal or tax advice. Trustees, executors, and administrators should consult their own attorney regarding their specific duties and authority.
Aragone & Associates | First Team Real Estate.