Twin Rivers is auctioning this undeveloped property at 891 Greg Thatch Circle. / NatomasBuzz.com Photo
BY BRANDY TUZON BOYD
THE NATOMAS BUZZ | @natomasbuzz
Aerial view of the property for sale. / Source: BBG Real Estate Services analysis
The Twin Rivers Unified School District is selling a vacant 8.21-acre parcel in the Hamptons neighborhood of north Natomas.
The school district has owned the rectangular-shaped, undeveloped parcel at 891 Greg Thatch Circle since 2010 when the property title was transferred from the former Rio Linda Union High School District.
On Feb. 1, 2022 the Twin Rivers school board declared the Greg Thatch Circle land as surplus property and called for bids.
According to meeting minutes, the Twin Rivers district did not receive any oral or written bids for the sale of the Greg Thatch Circle property by its March 8, 2022 school board session.
The property is located on the northwest corner of Greg Thatch Circle and Tres Piezas Drive, south of Magnolia Park. It sits within a subdivision and is surrounded by single-family housing and the site is zoned for residential use.
According to an undated property analysis by BBG Real Estate Services, the property is expected to have above-average marketability to residential developers as it is an infill site within Natomas.
The market value estimate for the site is $3.04 million or $8.50 per square foot of land area, reads the analysis.
The Twin Rivers school district is selling the parcel on GovDeals, an online auction platform where government agencies and educational institutions sell surplus assets.
The starting bid for the property is $500,000 and bid increments have been set at $5,000. The auction is also subject to a $1,000 bid deposit which will be refunded to those who do not win the auction.
According to the GovDeals website, once the auction has closed and the highest bid has been identified, the school district reserves the right to approve or reject the final offer.
A telephone message and email sent to the Twin Rivers chief business officer Kristen Coates had not been returned by press time. Coates is listed as the contact for the property.
This property will be at auction until 6 p.m. on Monday, June 20.
Twin Rivers Declares Panhandle Property as Surplus
On March 23, 2021, the Twin Rivers school board declared 21.74 acres of land it owns located in the Panhandle development area as surplus property. The following week, a “notice of intent to sell public property” was published. The deadline for public agencies or nonprofits to submit a letter of interest in the property was June 13. A telephone message and email sent to the Twin Rivers chief business officer Kristen Coates had not been returned by press time. Coates is listed as the contact for the property. —The Natomas Buzz
[…] Rivers Unified School District sold the property located at 891 Greg Thatch Circle in early 2022 after declaring it to be surplus land. The […]