Description
Investor Opportunity in West Linn! Keep existing home and 2 new parent lots.A three-lot partition has already been approved by the City of West Linn for this double frontage lot (see attached Notice of Decision with conditions).Upon completion of the partition, there is additional potential to leverage a Middle Housing Land Division, creating 56 new buildable lots while retaining the existing home on its own parcel. Two layout concepts (Proposal 1 and Proposal 2) are provided to illustrate possible configurations. Note: the Middle Housing Land Division application can be submitted once the three-lot partition conditions are satisfied.The existing home itself, once separated onto its own lot, has an estimated market value of approximately $900,000providing a strong built-in asset in addition to the development potential.The seller intends to begin required improvements for the three-lot partition by mid-October. The property is currently priced as-is, before improvements. Once work is underway, pricing will be adjusted to reflect the completed infrastructure.This is a rare chance to acquire a West Linn property with approved entitlements, immediate development upside, and strong long-term value potential.
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School Information
Description
Investor Opportunity in West Linn! Keep existing home and 2 new parent lots.A three-lot partition has already been approved by the City of West Linn for this double frontage lot (see attached Notice of Decision with conditions).Upon completion of the partition, there is additional potential to leverage a Middle Housing Land Division, creating 56 new buildable lots while retaining the existing home on its own parcel. Two layout concepts (Proposal 1 and Proposal 2) are provided to illustrate possible configurations. Note: the Middle Housing Land Division application can be submitted once the three-lot partition conditions are satisfied.The existing home itself, once separated onto its own lot, has an estimated market value of approximately $900,000providing a strong built-in asset in addition to the development potential.The seller intends to begin required improvements for the three-lot partition by mid-October. The property is currently priced as-is, before improvements. Once work is underway, pricing will be adjusted to reflect the completed infrastructure.This is a rare chance to acquire a West Linn property with approved entitlements, immediate development upside, and strong long-term value potential.
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Listing provided courtesy of MORE Realty: 503-962-9653.