Multifamily Assets/DTE Zoned Lots For Sale
|Catylist Listing ID:
|Number of Units:
|Building Size (RSF):
|Gross Building Area:
|Gross Land Area:
9,450 - 18,750 SF
||$415,000 Per Unit
|In Opportunity Zone?
|Property Use Type:
||Cash to Seller
Overview / Comments
Preferred Shore Commercial is pleased to offer for sale two contiguous, oversized DTE zoned lots with development opportunities right in the Gillespie Park neighborhood.
One lot enjoys a fully occupied duplex, while the other has an occupied single family home, which could be converted into a duplex (2/1&2/1). The rentals are producing $47,000 Annual NOI. The DTE zoning allows for 11 Units (up to 5 stories) to be built on this site in the future with purchase of potential city right of way in rear of property can add lot square footage and increase the allowable density to 14 units.
The owner is in the process of dividing the parcels into three separate parcels. The lots can be sold all together, or can be ala carte. The vacant lot is 5,450 SF.
Keep the existing buildings cash flowing and build a new single family home in between the existing buildings.
||DTE - DOWNTOWN EDGE
|Total Number of Buildings:
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