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Description

For sale is 35 acres of flat, buildable land zoned R-5A on the corner of Lower River Road and Orell Road in Louisville, KY. Acquired in 2007, the Seller has $50,000 per acre ($1,750,000) invested in this devolvement. He would like to sell at least 35 acres for a heavily discounted price of $30,000 an acre ($1,050,000). The highest and best use of the 35 acres is of a dense multi-family or senior living development. With R-5A zoning, a developer may build as many as 12.5 units of housing per acre. This would yield approximately 430 multi-family residences. At an industry accepted value of $4,000 per door for a lower-priced, newly constructed community, a valuation of $1,400,000 would be most developer

Property Details

• Type: Land
• Status: Available
• Lot Size: 35.000 Acres
• Buildings: 1

Map Locations