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Property Description
MULTIFAMILY DEVELOPMENT OPPORTUNITY IN LITCHFIELD PARK! Skip much of the early-stage legwork and take advantage of an 8, 464 SF M-H zoned site already positioned for a proposed FOURPLEX development. The proposed fourplex use has been reviewed and accepted under the current zoning, with septic, civil, and site plans already completed and receiving preliminary approval through the City of Litchfield Park and Maricopa County. Septic, civil, and site plans are included with the sale.
The current conceptual design calls for a two-story fourplex consisting of four 2-bedroom, 1-bath units, providing a total of 8 bedrooms and 4 bathrooms across the proposed project. Preliminary unit layouts have already been developed, while final architectural / building plans have intentionally not been completed, giving the next owner the ability to finalize the building design and finishes.
This isn't simply an untouched vacant lot. The site has already been CLEARED AND GRADED, an existing physical WATER METER is located at the rear alley, and ELECTRICAL is also available at the rear of the property. The proposed development is designed to utilize septic, as there is currently no municipal sewer connection.
Access is available from both Litchfield Road and Claremont Street, providing additional flexibility for future site planning and construction. NO HOA and conveniently located near Luke Air Force Base.
For a builder, developer, or multifamily investor, this is an opportunity to acquire a site where a meaningful portion of the preliminary development process has already been completed. Take the existing concept and preliminary-approved site, civil, and septic plans and move forward with final architectural plans, permitting, and construction.
APN 501-13-062-A. Buyer to independently verify zoning, utilities, preliminary approvals, plans, permitting requirements, development standards, and all other material facts with the City of Litchfield Park, Maricopa County, and applicable utility providers.
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Assumptions and Disclosures
- Interest rates and APRs presented are based on current market rates, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables - call for details.
- This is not a credit decision or a commitment to lend.
- Depending on loan guidelines, mortgage insurance may be required
- If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Additional loan programs may be available.
- APR (annual percentage rate) reflects the effective cost of your loan on a yearly basis, taking into account such items as interest, most closing costs, discount points (also referred to as "points"), and loan-origination fees. One point is 1% of the mortgage amount (e.g., $1,000 on a $100,000 loan).
- Your monthly payment is not based on APR, but instead on the interest rate on your Note.
- Adjustable Rate Mortgage (ARM) rates assume no increase in the financial index after the initial fixed period. ARM rates and monthly payments are subject to increase after the fixed period.
- These special rates presented here are only available when you pre-qualify and are not guaranteed until lock-in.
- Amounts may be rounded up. Additional fees and closing costs apply. If the down payment is less than 20%, mortgage insurance may be needed, which could increase the monthly payment and APR.
- Calculations are generated by Open Source mortgage calculation software tools using common mathematical formulas. All calculations should be independently verified.
- Please contact a loan specialist to get specific payment examples and information regarding your particular needs.
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