2125 3rd Street

Eau Claire WI 54703

1.31 ac.

Land

Currently for sale - view listing

Overview

BUY & BUILD | 38-UNIT MULTIFAMILY DEVELOPMENT OPPORTUNITY Rare opportunity to own and develop approximately 1.32 acres in Eau Claire?s growing Cannery District! This vacant parcel comes with a city-approved development plan for a 38-unit apartment community, offering investors and developers a head start on their next project. The proposed development features two apartment buildings with a mix of studio, 1-bedroom, and 2-bedroom units, along with 17 garage parking stalls and 19 surface parking stalls. Located near downtown Eau Claire, the Chippewa River, parks, trails, and ongoing redevelopment, this property is ideally positioned to take advantage of continued investment and demand for housing in the area. Pro Forma Highlights: ? 38 planned apartment units ? Approximately 1.32 acres ? $675,051 projected annual rental income ? $452,284 projected annual net operating income ? $7,528,070 projected stabilized value at a 6.0% cap rate Whether you're an experienced multifamily developer or an investor looking for your next opportunity, this property offers a compelling combination of location, planning, and development potential. BUY THE LAND. BUILD THE VISION. INVEST IN EAU CLAIRE?S GROWTH. Development plans and pro forma available for review. Buyer to verify approval status, remaining permitting requirements, financial projections, and all development details with the City of Eau Claire.