215 W 5TH ST, Lafayette, OR 97127
- $699,000
- List Price
- $699,000
- Price Change
- ▼ $100,000 1782171999
- Days on Market
- 347
- MLS#
- 552806676
- Property Type
- Land
- Lot Size
- 5 to 6.99 Acres
- Region
- Yamhill County including Willamina
- Status
- ACTIVE
Property Description
• 50+ Unit Potential Confirmed: Seller has two engineered plans that demonstrate feasibility for a 51-unit project and a 30-unit project, showcasing the site's potential for meaningful scale and helping buyers visualize a clear development path.• R-2 Zoning (Medium-Density Residential): Allows for flexible residential development such as duplexes, townhomes, or small multi-family units — attractive to developers seeking attainable housing options.• Proximity to 99W and Regional Access: Adjacent to Highway 99W, offering quick connectivity to McMinnville (± 9 minutes), Newberg (± 14 minutes), Salem (± 35 minutes), and Portland (± 55 minutes).• Level, Infill Lot: The site’s relatively flat topography reduces site preparation costs. As an infill parcel, it's surrounded by existing infrastructure and services.• Utilities Available at Street: Access to water, sewer, and power nearby can streamline permitting and reduce development costs.• Growing Housing Demand in Yamhill County: Lafayette is part of a region experiencing housing growth pressure, making it appealing for residential developers or small-scale builders.• Walkable Location: Proximity to schools, parks, and local amenities — a selling point for future residents and developers focused on livability.• Largest R-2 Zoned Vacant Parcel in Lafayette: Represents the largest available medium-density residential site within city limits, offering a rare opportunity for a developer to deliver a high-impact multifamily or mixed housing project.
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Additional Information
- Tax Amount
- $2,795
- High School
- Dayton
- Elementary School
- Wascher
- Middle School
- Patton
- Acres
- 6.47
- Property Type
- Multi Family
- Terms
- Call Listing Agent
- Waterfront Description
- Creek
- View
- Creek/Stream, Trees/Woods
- Utilities Included
- Electricity Available, Other, Water Connected
- Present Use
- Residential
- Road Surface
- Gravel, Paved
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Listing courtesy of Norris & Stevens Investment Real Estate Services.
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