Addresses 7701,7703,7705,7707 Taft. Perfectly prime for development. Nearly 10 acres. The front portion along Taft St. is zoned (C2 ex: stripmall, office, retail): the back portion is zoned for Medium or possibly HIGH DENSITY (R5) which means potentially 120+ condo/retirement units/Multi-family ( and 5+ strip mall unit. Utilities are at the site. Also 3 homes that are fully occupied all on separate parcels (each with 2+ acres each) bring in over $2400 a month in rents. Collect rents while you develop - supported parcel. Projected value for new 2 bedroom condo units would range between 200k-230k each(take a look at Brookstone development just a few blocks to the North 120 condo units sold/selling at $120k+ avg. a piece!! over 10years ago) ex: 120x$120,000 = $14,000,000
Listing courtesy of Berkshire Hathaway Homeservices Executive Realty.
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