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Listed by Norris & Stevens Investment Real Estate Services • DavidK@norris-stevens.com

$799,000

Est. payment - /mo

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6.47 Acres Lot

Price Dropped by $100K

215 W 5TH ST Lafayette, OR 97127

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Tommy Jedrzejczyk

tommy@tltre.com +1(503) 506-4646

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 552806676

HOA Y/N No

Annual Tax Amount $2,795

Tax Year 2024

Lot Size 6.470 Acres

Property Sub-Type Multi Family

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.

Location

State OR

County Yamhill

Area _156

Zoning R-2

Exterior

Utilities Available ElectricityAvailable, Other, WaterConnected

Waterfront Description Creek

View Creek Stream, Trees Woods

Garage No

Building

Lot Description Private, Stream, Trees, Wooded

Schools

Elementary Schools Wascher

Middle Schools Patton

High Schools Dayton

Others

Acceptable Financing CallListingAgent

Listing Terms CallListingAgent

Regional Multiple Listing Service (RMLS)

NEARBY SCHOOL & BUSINESS

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