About 705-713 Ne 3rd St 1-9
Opportunity to Acquire 9 Apartment Units on an Big Oversized 13,430 SF Lot (0.31 Acres) This is a rare value-add opportunity.
The property offers several recent improvements, including impact windows installed by the previous owner and a new roof completed in 2018. Interior finishes include a mix of vinyl flooring and tile flooring throughout the units. In terms of cooling, 2 units have split A/C systems and 7 units have window A/C units.
9 Assigned Parking Spaces
Current rents are below market, creating significant upside potential for a new owner.
The location is exceptional, and the redevelopment potential is tremendous. According to zoning, the property may allow for the development of a new 5-story multifamily building with up to 15.42 units and approximately 8,774 SF of building area.
Investment Highlights:
Strong value-add play through rent increases
Opportunity to modernize units and significantly boost NOI
Large lot offering future redevelopment optionality
Located in a prime rental corridor with strong demand fundamentals
This creates a rare covered land play — generate income today while planning a future redevelopment exit.
You’re not buying into a location — you’re buying into an established urban core.
Buyer must independently verify all zoning, density, and development potential with the appropriate zoning department and conduct their own due diligence.
