Homebuilder Lennar Homes of California has purchased a 31-lot residential development site in Vista for $4.76 million, according to brokerage firm Lee & Associates.
The seller of the approximately 11.4-acre site, at 1405 Ridge Road, was Presidio Vista. The buyer and seller were represented by Lee & Associates’ Matt Weaver and Al Apuzzo.
Brokers said a tentative map for a residential subdivision was fully approved by the city prior to the sale. Planned lots in the subdivision will range in size from one-quarter to just over one-third of an acre, with future homes to be sized between 2,700 and 3,500 square feet.
The seller entitled the vacant property with the intention to sell it to the homebuilder.