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64 Avonwood Rd
Avon, CT 06001

Avon Gardens Development · Land For Sale · 29.36 AC

Investment Highlights

  • Rare Approved 250 Unit Opportunity
  • Can be Purchased With Existing 189 Units
  • Construction/Management Available With Deal
  • Diverse Unit Layouts

Executive Summary

Rare development opportunity in Avon! This exceptional opportunity includes approved plans for a 250 unit expansion to an existing 189 unit property. The development includes two, four-story buildings totaling 196 units, featuring (122) One-Bedroom, (30) Two-Bedroom/One Bathroom, (32) Two-Bedroom/Two Bathroom, and (12) Three-Bedroom/Two Bathroom residences. Additionally, the expansion introduces townhome-style units: (14) One Bedroom/One Bathroom, (14) Two Bedroom/One Bathroom, and (26) Three Bedroom/2.5 Bathroom units providing residents with a variety of housing options tailored to modern lifestyles. Enhanced amenities will feature a new pool and clubhouse, expansive patio and pavilion, basketball courts, picnic areas, grilling stations, walking trails, and ample outdoor parking for residents and guests. 20% of these units will meet Affordable Housing requirements and the enhancement will result in ~$75/mth rent increase for current tenants due to amenity upgrade. The current owner/team is open to staying on to manage and execute this expansion project.

PROPERTY FACTS

Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Multifamily
Total Lot Size 29.36 AC

1 Lot Available

Lot

Price $12,000,000
Price Per AC $408,719
Lot Size 29.36 AC

zoning

Zoning Code RU2A
RU2A
  • Listing ID: 32834834

  • Date on Market: 8/16/2024

  • Last Updated:

  • Address: 64 Avonwood Rd, Avon, CT 06001

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