264 Tiffany Ln, Moreno Valley, CA 92557

Property Description

Last remaining buildable "1 acre" equestrian site inside the City. The adjacent "1+ acre" parcel was priced at $188,000 and recently sold. These sellers are now "very motivated" to sell this remaining parcel ASAP. So they reduced the price to $144,000. They will now finance this parcel with a 50% down payment ($72,000). They will carry the $72,000 balance as a land loan (no qualifying, no points and no fees). If qualified, there is also now a "bank" that will finance a vacant parcel like this with just a 25% down payment ($36,000). This same bank will also provide a great "construction loan" that converts to the permanent "home loan" when your custom home is completed. To qualify, you may only need a 10% equity (cash investment) in the appraised value of your completed custom home. For example: Your $36,000 down payment may be sufficient to qualify for up to a $360,000 "construction/home loan". That new loan will pay off the $72,000 "land loan". Then there will be with ample funds remaining (up $288,000 if needed) to build your custom "dream home" on a huge lot with a great view... This remaining parcel has the flexible City zoning of "R-1" for building custom equestrian estates on a "1 acre" minimum lot size. The zone also permits raising horses (animals), farming and building up to two houses (a main and guest house) on this parcel... This remaining parcel is walking distance to the nearest school and within the "1 mile" to the Moreno Valley Mall and the 60 Freeway onramp!!