The Overlook Development Site is a 188,614 square foot (~4.33 acres) development opportunity that has been fully entitled. Permits can be delivered to a buyer upon closing. The site is currently unimproved vacant land spread across four tax parcels and is the second phase of a three phase multifamily development. The property is zoned R-12 and R-20 and is entitled for 96 multifamily units. The proposed unit configuration would be 14 studios, 28 one bedroom units, 12 two bedroom one bath units, and 44 two bedroom two bath units. Comparable rents for the market show one bedroom units renting for as high as $1,285 and two bedroom units renting for over $1,500. The Overlook Development Site is an excellent opportunity for an investor to acquire a nearly shovel ready project in a rapidly growing market.
