Vacant Lot Due Diligence -- Cape Coral, SWFL
Hey Friends,
So I'm considering buying a vacant lot in Cape Coral, but that's one arena I've never ventured into personally. I know that lots have a city water/sewer assessment and if it hasn't hit that particular parcel yet, it will within the next couple of years. That being said I'm wondering if any of you have had any experience buying/building on land over this way. I've seen some vacant lots that are listed
"08-Multi-Family-Less Than 10 Units" as land code use in the MLS, for example, but when I look up the Classification/DOR code in the county records the same property is listed "00-Vacant Residential"... so if it's classification is "Vacant Residential" will it change to the "08-Multi Family-Less than 10 units" once it's built. I've seen Triplex's and Quad's among Duplexes, as long as there is room to build them, so I'm wondering how I can specifically check if I can do that in other areas.
In a nutshell, I suppose I'm asking what's your due diligence process when considering a vacant lot? I'd ultimately like to build a few multifamily properties, but I don't want to end up buying a parcel of land that "says" (via the MLS or the seller themselves) I can build a 6-unit property then ultimately find out I can only put a Duplex on it.
Thanks!