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3920 E Silver Springs Blvd - Ocala Multifamily Land 4.38 Acres of Commercial Land Offered at $1,200,000 in Ocala, FL 34470
Investment Highlights
- INVESTMENT RATIONALE QUALIFIED CENSUS TRACT ENHANCES DEVELOPMENT FEASIBILITY
- LOW COST OF LIVING SUPPORTS HOUSING DEMAND
- HIGH-VISIBILITY LOCATION ALONG MAJOR OCALA CORRIDOR
- LIMITED AFFORDABLE SUPPLY CREATES COMPELLING DEVELOPMENT OPPORTUNITY
- STRONG POPULATION GROWTH AND IN-MIGRATION
- PROXIMITY TO SW COLLEGE ROAD DEMAND DRIVERS
Executive Summary
Prime multifamily development opportunity. This site resides in a Qualified Census Tract, allowing the possibility for affordable housing development. Preliminary plan approved for 72 units.
Property Facts
1 Lot Available
Lot
| Price | $1,200,000 | Lot Size | 4.38 AC |
| Price Per AC | $273,972.60 |
| Price | $1,200,000 |
| Price Per AC | $273,972.60 |
| Lot Size | 4.38 AC |
Description
4.38 (+/-) acres off of E Silver Springs Blvd in Ocala, FL. This site is currently zoned R3 and resides within a federally designated Qualified Census Tract, potentially allowing a qualifying affordable housing development to receive up to a 30% increase in eligible basis for Low-Income Housing Tax Credit purposes. This enhanced basis may increase tax credit proceeds, reduce required gap financing, and strengthen the overall economics of future development.
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
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