2322 & 2242 Oakland Dr - Residential LAND FOR SALE


Abilene, TX 79603- North Abilene750,103 SF
$700,000 USD
682-553-7432
2322 & 2242 Oakland Dr, Abilene, TX for Sale
$700,000 USD
Residential LAND - FOR SALE
1/18
750,103 SF

2322 & 2242 Oakland Dr
Abilene, TX 79603
North Abilene


HIGHLIGHTS

  • The property is located right off of the Hwy 277/I-20 interchange to the West of the city, and sees high 5-digit traffic daily.
  • The Market outlook is very strong, with rents in the premium and new section growing 13% over the last 12 months.
  • Current ownership has no projects planned or discussed with the city, providing an open slate for your vision.
  • With residential, nursing care, and governmental properties nearby, there is already infrastructure in place and neighbors appurtenant.
  • The property is ready for the right developer to develop. The city has zoned the property for Residential use, and they are open to rezoning.
  • With rent growth of 13% in the premium sector, and 6.7% in the existing C class sector, rents in Abilene are growing.

OVERVIEW

An incredible opportunity to own developable residential land (zoned MF) in a city that, per CoStar has historic demand for premium units, is building new roads and zoning new multifamily, and encouraging new development and growth. Also per CoStar, asking rents have risen 6.7-9.5% in the last 12 months overall, and 12.0% in the premium segment. Our offering is priced to allow for a low-basis entry into a rapidly heating premium apartment market. 17.22 AC of developable land, within Multi-Family zoning, adjacent to a power sub-station (AEP, who is ready, willing, and able to increase power at this site), and adjacent to local residential, medical, self-storage, school, and governmental rooftops. Per CoStar there are no apartment construction deliveries planned in the next 2+ years, equating to opportunity to fill demand with new units. Extraordinarily well-located on I-20, and subject to a forthcoming TXDOT expansion that will further benefit the property, and traffic flow. The expansion is confirmed, and land in the area is being purchased by TXDOT as we speak.

FOR SALE DETAILS

PRICE

$700,000 USD

PRICE/ACRE

$40,650/AC

PRICE/SF

$0.93 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

Multi-Family, Apartment Units, Apartment Units - Condo, Apartment Units - Dorms, Apartment Units - Senior, Apartment Units - Subsdzd, Manufactured Homes/Mobile Home Park, Master Planned Community, Public Library, Public Park, Public Swimming Pool, Religious Facility, Single Family Development, Single Family Residence

LAND ACRES

17.22 AC

LAND SF

750,103 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

MF

APN/PARCEL ID

25145,40772,997624

ASK ABOUT THIS PROPERTY

John LaudenslagerBlack Tie Real EstateMore Info
682-553-7432

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

John LaudenslagerBlack Tie Real EstateMore Info
682-553-7432

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.