7701-7707 Taft
Merrillville,
IN
46410
Property Details
List Price: |
$450,000 |
Beds: |
7 |
Baths: |
4 |
Status: |
Active |
SqFt: |
-- |
Agency: |
Advanced Real Estate LLC |
Description/Comments
Lot Size: |
9 acre(s) |
Property Type: |
MultiFamily |
Year Built: |
1970 |
Notes: |
3homes on 9.84acres. Check zoning with town of Merrillville but what I see is C2 in front, so Stripmall or retail in front. Lot goes a quarter mile back so over 1300' feet back. Rear is zoned R5 good for multi-unit not much of a stretch from a PUD which would allow retirement villiage, 200+/- unit apartment complex or condo development. Don't want to develop? well then, resurvey the property, sell 2 of the 3 homes and get your money back then do a market repackage of the rest with a conceptual drawing showing a good size condo development for a quick return on the investment One block away to the north is Brookstone Estates'' phase 1 was built around the year 2000 and is about the same size as this property was originally zoned R5. Brookstone Phase 1 consist of 120 units valued around $165k a piece currently. Now, Brookstone phase 2 is underway and has brand new units starting at $369k per unit. Can you imagine 120+ condo's at $369k a piece? There is money to be made |
MlsNumber: |
803637 |
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Listing Provided By: |
Advanced Real Estate LLC, original listing |
Name: |
Advanced Real Estate LLC |
Phone: |
(219) 746-2693 |
Office Name: |
BHHS Executive Realty |
Office Phone: |
(219) 663-1986 |
Agent Name: |
Eric Pace |
Disclaimer: |
Copyright © 2024 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |