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650 Morton St
For Sale $1,999,995
$1,999,995
- Units
- Unknown Sq Ft
- 6,740 Sq Ft
- Unknown Cap Rate
Description
| POTENTIAL OUTSALE OF $8-$10 MILLION | Seller Financing and/or Extended Settlement Available |
Prime Residential Development Opportunity Across from the newly-built Park Morton Apartments! This expansive 6,740 SQF flat lot with an existing end-of-row rowhouse presents a rare chance to capitalize on RA-3 zoning, allowing moderate-density residential development. Key zoning highlights include an FAR of 3.0, lot occupancy of 75%, and a building height allowance of up to 60 feet. This property offers versatile options for developers, including townhouse or "2 over 2" condos , a traditional multifamily building, or even assisted and senior-living facilities. By-right development provides upwards of 25,520 total square feet (20,220 above grade + 5,055 below grade). Development above (9) units is subject to additional bonuses and covenants required by the IZ+ program overlay. Contact the listing agent for more detailed studies, including a massing study for a 24-unit apartment concept. Renderings and documentation are available for review but are for informational purposes only. Buyers are encouraged to perform their own due diligence with zoning attorneys, architects, and civil engineers.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,999,995 |
| Property Type | Multi-Family |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1909 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 3040//0034 |
| MLS # | DCDC2164404 |
| Property ID | 320951909 |
| Lot Sqft | 6,740 |
| Zoning | RA-3 / IZ+ |
| Days on Market | 73 |
| Original List Price | Unknown |
| Date Updated | December 23, 2024 |
| Date Created | October 13, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Christopher S Burns an agent of . Lic #SP98371993
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Data last updated: December 25, 2024.
Robert Crawford
REAL ESTATE AGENT