Over the past 12 months or so, the development land market in Mammoth Lakes has heated up. It would appear that the developers and land speculators are recognizing the upturn in the housing market and are now trying to position themselves for the next wave of building.
Nearly 60-acres of development land has either sold or gone under contract for purchase within the past year, where very few land sales had occurred during the 5-years prior. This includes some of the more iconic parcels in Mammoth Lakes, such as “The Village East” parcel (Village Parking lot and Burgers Restaurant), those parcels surrounding the Sierra Star Golf Course, the Shady Rest parcel (south of Main Street) and a variety of smaller properties purchased by local builder John Hooper.
The most recent property to hit the market is the Berner Property. The Berner Property consists of two consecutive properties improved with older industrial and storage type uses. These improvements are for the most part occupied and offer a reliable interim income. The entire property is 2.1 acres in size and received a conditional use permit and approvals for 28 units with 101 rooms in 2010. The Berner Property is currently being listed for sale by Matthew Lehman Real Estate and is one of the key properties completing the North Village Specific Plan.
To learn more about this unique development opportunity email me at Matthew@MatthewLehmanRealEstate.com or call me at 760-934-1110. I have a complete marketing package waiting for you. To search other properties in the area just visit Matthew Lehman Real Estate.