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TOD Multi-Family Site - Motivated - Charlotte, NC
1401 Tiffani Lane, Charlotte, NC 28210
$775,000
7.51 AC
Land
Multifamily (land)
Residential (land)
Garden/Low-Rise
Mid/High-Rise
173-162-81, -82, -83, -84, -85, -92, -97
Already partial-zoned R-22MF; slated for high density TOD-R (30+units/ ac) or minimum of 22 units/ ac
- Electricity/Power
- Irrigation
- Water
- Telephone
- Cable
- Gas/Propane
-
Find Out More...
Last Verified 11/20/2009
Listing ID 16318314
1 Lot Available
7 lots
$775,000
7.51 AC
Multifamily (land)
6%
- Assemblage of total of 7 adjacent lots: Tax ID 173-162-81, -82, -83, -84, -85, -92, -97
Highlights
Motivated-- Offered at price below Fall 08 appraisal (and large discount relative to targeted use)- Preliminary Site Plan shows potential layout for 240+ unit multi-family project
- Charlotte's light rail system nationally recognized for being highly successful and is sparking growth
- Recent due diligence completed successfully (survey, environmental, utilties, etc.)
- 4 houses on site can be rented for some income during holding period
- Will consider joint venture or outright sale
Description
Land is excellent transit-oriented site in Charlotte, NC available for purchase at discounted price. Charlotte statistically is one of nation' s most stable real estate markets. 7.5+/- acre site is sited near the city' s new and highly successful South Blvd light rail system (Blue Line), just a short walk from Arrowood Rd LYNX Station. Much of site now zoned at high density 22 units/acre multi-family. Because land is within ½ mile of transit station, City would like rezoning to higher-density (can include transit-oriented (TOD) classification). Property recently appraised for more than asking price. Layout prepared for potential 200+ unit multi-family project.
Site is located just off South Boulevard across from the Arrowood Road transit station in Charlotte, NC. It is a short walk to the station, and City planners intend to have a pedestrian bridge built across South Blvd, which will make site even closer to the station.
Map of 1401 Tiffani Lane, Charlotte, NC 28210 (Mecklenburg County)
Created 7/15/2009
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.