National homebuilder Shea Homes has purchased the Yorba Linda Ranch Estates, a 15.6-acre residential development site in Yorba Linda for $31.25 million, according to property records.
The Karagines Family Trust sold the three parcels of land at 18101-18231 Bastanchury Road, which is located about one mile north of the Richard Nixon Presidential Library and Museum.
The purchase price works out to about $2 million per acre.
According to CoStar, Shea plans to build single-family homes on 14 lots. The site is described as raw land.
