NEW! Buy and sell safely with virtual options - Learn More
About the Listing KWPP01 - VARWIGSH
Rare opportunity to acquire a fully approved 5-unit townhome-style multifamily development situated on approximately 8,625 SF (0.198 acres) in the heart of Canby, Oregon. The project has received final City approval and is positioned within one of Canby's established residential neighborhoods.For approximately $780,000 in equity, a developer can satisfy the estimated 40% construction lender contribution typically required for a new multifamily development of this size. The underlying land is offered at $499,000, providing a compelling entry point into new construction multifamily development.PROJECT HIGHLIGHTS• Approved 5-unit multifamily townhome development• Approximately 8,625 SF lot (0.198 acres)• Final City of Canby approval with no appeals filed• Two-building design• Three larger townhomes with attached garages• Two additional residential units with dedicated parking• Approximately 6,824 SF total living area• Approximately 7,511 SF total built area including garages• Central Canby infill location with strong demand for new housing• Development package available upon requestBased on current planning assumptions:• Estimated total development cost: approximately $1.87M–$1.95M• Estimated equity requirement: approximately $747,000–$780,000• Expected annual rental income: approximately $155,400• Projected completed project value: approximately $2.085M• Potential upside scenario exceeding $2.2MGreat project for developers seeking:• Long-term rental ownership• Build-to-rent investment• Individual unit sales, subject to applicable legal, platting, condominium, and regulatory requirements• Hybrid hold-and-sell strategiesOpportunities to acquire approved multifamily infill projects in central Canby are increasingly limited. The Residences at Fourth Avenue offers a development-ready project with approvals in place, defined construction assumptions, and multiple potential exit strategies.Complete approval documents, site plans, development
Listing Highlights
Status
Active
Days on Site
39
Property Type
Vacant Land
MLS ®
752637550
Year Built
Total Square Footage
0
Lot/Acreage
N/A
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Level
- Garage Capacity: N/A
- Zoning: R2
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $2,917
- Taxes w/Assessments: N/A
- Tax/Property ID: 00792618
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
442 NW 4th Ave Canby, OR 97013
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
