KB Home recently purchased 113 finished lots within Buckeye’s Encantada Estates for nearly $4.5 million. That purchase, however, is just the beginning of a planned two-phase transaction.
Located at the northeast corner of Rooks and Beloat roads, a future second phase will provide KB Homes with another 100 finished lots. That phase is expected to close next year at $4.1 million, according to Patty Lafferty, principal at The Land Agency, which is the land brokerage firm that represented the seller, Everest Holdings. The entire 213-lot transaction averages to just over $40,000 per lot, she said.
“One thing to consider is the finished lot inventory in Buckeye,” Lafferty said. “This is one of the last finished lot communities available for a homebuilder to buy today. There’s a couple other positions that builders could look at again from a finished lot perspective, but this is one of the last true finished lot communities that are available for a homebuilder to buy.”
