Lambert Family Home for Sale

[irviniteeee]

I didn't think the Lambert family would ever sell the final piece of land within Lambert Ranch/Portola Springs. It'll be interesting to see how long it takes to sell and if the buyer will preserve it and keep it the way it is or build a whole new piece of property.
https://www.redfin.com/CA/Irvine/55-Parson-Brown-92618/home/101329364

 

[sgip]

There might be restrictions in the sale regarding demolishing the home. At 1.6 acres, you could fit 4-5 new units on the property and come out ahead. Don't think the approval would make it past the home owners association though. If LR owners wanted to preserve the property while adding another $50 or so to the HOA dues, it would be a smart buy IMHO.  Tough to find open space like that anymore.

 

[bones]

http://www.talkirvine.com/index.php/topic,1074.msg274158.html#msg274158

 

[Arman]

There might be restrictions in the sale regarding demolishing the home. At 1.6 acres, you could fit 4-5 new units on the property and come out ahead. Don't think the approval would make it past the home owners association though. If LR owners wanted to preserve the property while adding another $50 or so to the HOA dues, it would be a smart buy IMHO.  Tough to find open space like that anymore.

The home is subject to all the rules and regulations of the Association. Hence, any significant improvements would have to be run by the Association. I doubt that the HOA would approve demolishing and putting up X number of new homes in place of the Lambert Residence.

 

[AW]

Hoa and city planning. 

Probably the largest residential lot in Irvine!

 

[Arman]

Hoa and city planning. 

I think that the city would be more likely to approve than would the HOA. That said, I don't think even the city would approve.

 

[aquabliss]

Sold for $1.5M after nearly 2 years on the market!