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3716 Elaine Dr - Sullivan Town Homes
1.41 Acres of Residential Land Offered at $675,000 in Lake Worth, FL 33463
INVESTMENT HIGHLIGHTS
- Development-Ready Site – 1.41-acre parcel previously entitled for 8 townhomes, offering a streamlined path to construction.
- Prime Location – Conveniently located near major roads, schools, shopping centers, and employment hubs, ensuring strong market demand.
- MR-5 Zoning Flexibility – Allows up to 5 dwelling units per acre, with potential for townhomes, duplexes, or small multifamily development.
- Utilities Available – Water, sewer, and electricity are readily accessible, minimizing infrastructure costs and development delays.
EXECUTIVE SUMMARY
Seize this exceptional investment opportunity in a high-demand residential area. This 1.41-acre parcel, previously entitled for an 8-unit townhome development, is an ideal site for builders, developers, and investors looking to capitalize on the area's strong demand for residential housing.
Property Highlights:
Size: 1.41 acres
Zoning: MR-5 (Medium Residential – 5 DU/Acre)
Previous Entitlements: Approved for 8 townhomes
Utilities: Available nearby
Access: Conveniently located near major roads and highways
Surrounding Uses: Mix of single-family homes, townhomes, and multi-family developments
Investment Potential: Strong market demand for housing with rising property values in the area
Location & Market Demand
This property is strategically located near major commercial hubs, schools, shopping centers, dining, and recreational facilities, making it a prime location for residential development. Its proximity to employment centers and transportation corridors enhances its value and attractiveness to potential homebuyers or renters.
The surrounding neighborhood features a blend of single-family residences, townhomes, and apartments, indicating high demand for diverse housing options. The site’s previous entitlements for 8 townhomes make it an excellent opportunity to continue the originally envisioned residential development or explore alternative configurations under the existing zoning regulations.
Zoning & Development Potential
The MR-5 zoning allows for a variety of residential uses, including townhomes, duplexes, and small multifamily developments. The previously approved 8-unit townhome plan demonstrates the feasibility of development and provides a strong foundation for a new project.
Development Possibilities:
Proceed with the previously entitled 8-townhome project
Modify the site plan to accommodate alternative residential layouts
Explore workforce housing incentives or density bonuses
Develop a build-to-rent community for investors
Infrastructure & Accessibility
Road Access: The property is easily accessible via major arterial roads and highways
Utilities: Water, sewer, and electric services are available nearby
Nearby Amenities: Close to schools, shopping centers, medical facilities, and parks
Why Invest?
Strong Housing Demand: The area has experienced consistent population growth, fueling demand for well-located residential projects.
Development-Ready: The site had previous entitlements, saving time on preliminary approvals.
High Market Potential: Townhomes are highly sought-after for first-time buyers, downsizers, and investors.
Flexibility: Various development strategies can be pursued, maximizing returns.
Next Steps
Do not miss this rare opportunity to develop a prime residential site in a rapidly growing market. Contact us today to discuss the property details, zoning allowances, and potential development pathways.
Inquire now to schedule a site visit or request additional information.
PROPERTY FACTS
| Price | $675,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 1.41 AC |
| Price | $675,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 1.41 AC |
1 LOT AVAILABLE
Lot
| Price | $675,000 | Lot Size | 1.41 AC |
| Price Per AC | $478,723.40 |
| Price | $675,000 |
| Price Per AC | $478,723.40 |
| Lot Size | 1.41 AC |
Prime 1.41-acre site in a MR-5 zoning district, previously entitled for 8 townhomes. Ideal for residential development, with easy access to major roads, shopping, and schools. Great opportunity for builders or investors. Inquire today!
DESCRIPTION
Prime Development Opportunity – 1.41 Acres Entitled for 8 Townhomes Located in a high-demand residential area, this 1.41-acre development site presents a unique opportunity for builders, investors, and developers. Previously entitled for an 8-unit townhome project, this property offers strong potential for residential development in a growing market. Property Highlights: Size: 1.41 acres Zoning: MR-5 (Medium Residential – 5 DU/Acre) Previous Entitlements: Approved for 8 townhomes Utilities: Water, sewer, and electric available nearby Access: Convenient location near major roads and highways Surrounding Uses: Mix of single-family homes, townhomes, and multi-family residences Development Potential: Established demand for townhomes and workforce housing Development & Zoning The MR-5 zoning designation allows for up to 5 dwelling units per acre, making this property an ideal candidate for a townhome development or alternative residential use. The previous entitlement for 8 townhomes streamlines the development process, providing a foundation for a new project while ensuring compliance with local zoning regulations. Developers may choose to proceed with the existing entitlements, modify the site plan, or explore density bonuses through programs such as the Workforce Housing Program (WHP) or Transfer of Development Rights (TDR). Strategic Location This site is strategically positioned near commercial centers, schools, shopping, dining, and recreation, enhancing its appeal for future residents. Its proximity to employment hubs and transportation corridors adds significant value, making it an attractive option for developers targeting the growing demand for housing. Investment Potential With increasing property values and strong housing demand, this site presents an excellent opportunity for developers and investors looking to build highly marketable residential units. Townhomes remain a sought-after option for first-time homebuyers, downsizers, and rental investors, ensuring a high absorption rate once developed. Infrastructure & Accessibility Utilities: Water, sewer, and electricity readily available Transportation: Quick access to major highways and thoroughfares Nearby Amenities: Shopping centers, schools, medical facilities, and parks Why This Site? Turnkey Development Potential: Previously entitled for 8 townhomes, saving time and resources. Established Residential Demand: Townhomes are in high demand, offering strong resale or rental opportunities. Strategic Location: Near key commercial and employment hubs, increasing desirability for homebuyers. Flexible Development Options: Utilize existing plans or explore alternative higher-density configurations. Next Steps This is a rare opportunity to develop a prime residential site in a high-growth market. Whether you’re an investor, developer, or builder, this property provides strong potential for a profitable project. For more details, zoning verification, and development discussions, please contact us today. Buyers must confirm zoning and development allowances with Unincorporated Palm Beach County.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $165,260 | Total Assessment | $298,916 |
PROPERTY TAXES
ZONING
| Zoning Code | MR-5 (MR-5 zoning allows up to 5 dwelling units per acre, including townhomes. Buyers must verify zoning and development potential with Unincorporated Palm) |
| MR-5 (MR-5 zoning allows up to 5 dwelling units per acre, including townhomes. Buyers must verify zoning and development potential with Unincorporated Palm) |
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3716 Elaine Dr - Sullivan Town Homes
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