I can across a property right down the street from where I live that is interesting, but out of my area of experience. Wanted to throw it out to the community as well as get thoughts from those of you who have developed property. Here are some of the basics.
-3.4 acre lot on a small creek within a half mile of one of those cute small downtown areas.
-Currently has an old, beat up 2000sqft house built in 1900 on part of the property.
-Property is zoned such that you could build 5.2 houses per acre, but based on flood zone, could realistically only put a few 3-5 homes on the property.
-in a B+ or better neighborhood and in a great community with very very strong schools.
curious on ideas/interest from those of you that have development experience in Ozaukee County.
I'd love to do something with it, but don't have the money or experience to go it alone. I live about 2 blocks away, and would be glad to have a conversation with anyone that may be more equipped for this deal. I have spoken with the selling agent and have some maps that show flood planes, etc.
Let me know what you all think!
Dave - I too am interested but don't have the raw land development experience to fully jump in considering the wetland and flood plain issues. I'm just up the street from you on Susan lane. I'm touring the property later today. I'll share what I learn.
At some point before you get to far if you are thinking about splitting the property, have a local engineer look at it. Be sure they are familiar with wetland delineation and flood plans.
Did you end up doing this deal? I was looking for some insight on splitting up a property.
I am purchasing a single family home in Cedarburg and would like to split up the land to build another single family home.
Tyler, no I didn’t. Property was bought by a family and they build a nice big custom home on it.
I’ll be curious to hear how your purchase and split goes!
Thank you for the reply. We close in about 2 weeks and I will let you know how the land split goes.
Our current plan is to try to get a variance because current zoning is set for 8,500 sqft lots and the property subdivided will only be around 7,000 sqft each. Everything I read says it’s really difficult to get these variances approved, but we should have a better chance with the surrounding properties on both sides being under the zoning requirement at only 6,700 sqft lot sizes.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing