$450,000

This 11+-acre parcel offers a strong multifamily development opportunity along University Drive. Zoned R-5 Multifamily, the property sits in an established rental area and is well aligned with continued residential development. The size of the parcel provides flexibility for site planning, building layout, parking, green space, and potentially phased development. Its location along University Drive also offers good visibility and convenient access, making it an attractive option for a developer or investor looking for a larger multifamily site. With the zoning already supporting multifamily use, the property provides an opportunity to explore a range of residential concepts subject to city requirements and approvals; utility availability, access, density, stormwater, wetlands, soils, and other site-specific development considerations of a buyer’s normal due diligence. Based on contour maps and the National Wetlands Inventory, there are wetlands in part of the 11 acres. Overall, this is a sizable development parcel in an established rental corridor with zoning, location, and acreage that create a compelling opportunity for future multifamily development.