430 Southwest 47th Terrace
$1,450,000
29,969 / 0.69
Description
With approved building and MEP plans for mixed-use workforce housing and commercial space, this entitled land presents a prime investment opportunity in CP zoning, allowing flexibility for a wide range of uses (confirm with zoning). The development includes 39 workforce housing units and 8,300 square feet of commercial space, blending residential and commercial possibilities and creating the ideal live-work scenario. This property is ideal for developers or entrepreneurs looking to capitalize on...With approved building and MEP plans for mixed-use workforce housing and commercial space, this entitled land presents a prime investment opportunity in CP zoning, allowing flexibility for a wide range of uses (confirm with zoning). The development includes 39 workforce housing units and 8,300 square feet of commercial space, blending residential and commercial possibilities and creating the ideal live-work scenario. This property is ideal for developers or entrepreneurs looking to capitalize on the growing demand for affordable housing and commercial opportunities in the area. The 39 workforce housing units are designed with modern, efficient layouts to meet the needs of the local workforce. The 8,300 sq. ft. of commercial space is positioned to accommodate various business uses under CP zoning, providing flexibility and income potential through long-term leases. Located in the bustling South Cape Coral area, this parcel offers convenient access to public transportation, major highways, schools, parks, restaurants, and healthcare facilities. Its strategic location ensures residents a high quality of life and access to local amenities. This investment offers strong potential due to the high demand for workforce housing, ensuring a stable rental market. The commercial space provides opportunities for long-term leases and additional revenue streams. Investing in this property also contributes to the local community by providing much-needed affordable housing and supporting local businesses. The growth potential is significant, with property values expected to rise as the area develops. Please note that this deed-restricted property under the Live Local Bill requires 40% of the units to be rented to individuals earning less than 120% of the Area Median Income (AMI). As of April 2024, the AMI in Cape Coral is $88,800. Seller financing is available.
- Listed by Kyle Doyon • Coast Life Properties LLC
- Listed by Melissa Abele • Coast Life Properties LLC
Property Details for 430 Southwest 47th Terrace
Development
CAPE CORAL
Community TypeNo Subdivision, Non-Gated
WaterfrontNo
Waterfront DescNone
Waterfront DescNone
ViewCity
LISTING UPDATED: 10/18/2024 10:03 AM
Property Details for 430 Southwest 47th Terrace
Status | Active |
---|---|
MLS # | 224056208 |
Days on Market | 124 |
Taxes | $64,308 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Lot & Land |
Year Built | - |
Lot Size | 0.69 AC |
County | Lee County |
Building Information for 430 Southwest 47th Terrace
Lot Size0.69 AC
Property Information for 430 Southwest 47th Terrace
Property History for 430 Southwest 47th Terrace
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 430 Southwest 47th Terrace
Taxable ValueLand$165,000Additions-Total$165,000
Tax Record2023$2,533 ($211 / month)
Home Facts
Lot Size30,000 SqFtStyleCommercialZoningP1-DCountyLEEAPN11-45-23-C4-01700.0390
Schools near 430 Southwest 47th Terrace
This home is within Lee.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | PK to 5 | |||
Public - | PK to 5 | |||
Public - | PK to 5 |
Rating | School | Distance |
---|---|---|
Cape Elementary School PublicPK to 5 | ||
Gulf Elementary School PublicPK to 5 | ||
Skyline Elementary School PublicPK to 5 | ||
Pelican Elementary School PublicPK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.