By: Daniel Benson; Belfiore Real Estate Consulting
According to public record, LGI Homes closed on 24 45’x110’ finished lots on August 28, 2013 for $588,000 ($24,500 per lot / $544 per front foot). The lots are located in Caddis Haley Estates (SEC Vahalla Rd & Valencia Rd) which is located in Belfiore Real Estate Consulting’s South Tucson submarket. The seller in the transaction was Caddis Bridge LLC. Caddis Bridge originally purchased the lots back on June 12, 2012 for $11,007 per lot / $244 per front foot. Caddis Bridge has also optioned 67 lots in Caddis Haley Estates to D.R. Horton. LGI will go head-to-head with Horton, who is also building on 45’ lots with a current base price range of $131,900 – $167,900.
