The subject offering includes two parcels of land totaling 20,502 square feet. Property is zoned DH2. See enclosed development and zoning regulations. Current zoning/density allows up to 27 new apartments. Included in this offering are recent lease comparables confirming the average leasing rate for a one-bedroom one-bathroom apartment is $1,600 a month. This property is priced to sell at only $25.30 per square foot. Recent comparable land sales included in this marketing package confirm the average price per square foot is $28.35.
