Catylist ID:
#30835034
| Catylist Listing ID: | 30835034 |
| Property Subtypes: | Multi-Family |
| Gross Land Area: | 12.84 Acres |
| Sale Price: | $2,650,000 |
| Unit Price: | $206,386 Per Acre |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 9/16/2024 |
Overview / Comments
|
Arbor Lake Townhomes in Crestview, FL, is a 12.84-acre Subdivision being offered FOR SALE in Two (2) Phase; PHASE I includes thirty-six (36) publicly recorded pad sites on 3.31 acres of 'improved' property, including all horizontal improvements: underground infrastructure, road, curbing, street lighting, HOA pool & pool house, and entrance sign completed in 2012. Each recorded pad site comes shovel-ready to receive vertical improvements for thirty-six (36) 1,250 square foot, two-bedroom, two-and-a-half bathroom townhome units. PHASE II offers 91 (formerly entitled) units of townhome density with single-car garages planned on 9.53 majestic acres, offering panoramic views of Arbor Lake from a multi-tiered topography reminiscent of the hill country of North Georgia. . Phase II of Arbor Lake comes with engineered drawings and the lift station for both phases of development under City management, a pristine, filtered lake, and 50% of underground and horizontal improvements. SELLER FINANCING FOR PHASE II: Seller financing terms for Phase II are conditioned on the buyer purchasing thirty-six (36) fully entitled, publicly recorded unit plats (pad sites) for 50% of the agreed purchase price for the remaining 127 units of planned density as conveyed in the Sales Package. Seller agrees to carry a note for 91 townhome units of formerly approved and planned density at a negotiable interest rate on a 20-year amortization schedule and an 18 to 24-month balloon payment on the balance due. Call broker for more info. |
Additional Details
| Nearest MSA: | Crestview-Fort Walton Beach-Destin |
| County: | Okaloosa |
| Tax ID/APN: | 07-3N-23-1101-0000-0CA0 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 2,300 | 24,358 | 38,482 |
| Median Age: | 32.47 | 36 | 35.28 |
| Households: | 924 | 9,027 | 14,167 |
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