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$319,000
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Price Dropped by $35K
53 N Aime Ave Cedar City, UT 84720
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Key Details
Property Type Vacant Land
Sub Type Lot
Listing Status Active
Purchase Type For Sale
MLS Listing ID 112300
Annual Tax Amount $1,470
Acres 1.0
Property Sub-Type Lot
Source Iron County Board of REALTORS®
Property Description
Aime Ave. Details:
• 1.03-acre multifamily development lot located at 53 N. Aime Ave., Cedar City, UT 84720
• Zoned R-3-M with no CC&Rs
• All utilities are stubbed and ready to build
• Walking distance to Southern Utah University, ideal for student or workforce housing
• Previously approved by the city for a 24-unit apartment complex or an 8-lot PUD (8 individual townhome lots with separate tax IDs)
• Fully engineered, city-approved, and ready for development
• Includes multiple engineered and stamped plan sets (3 options total), soils report, and completed civil work
• Property has been owned for over 5 years, with 100+ hours invested in planning and due diligence
• Seller is motivated due to bandwidth being full with other projects Development flexibility and options:
" Build and hold as a 24-unit apartment complex. (allows up to 24 units because it is over 1 acre)
" Subdivide into 8 separate townhome lots, with twin homes and basement studios (16 total doors)
" Develop for short-term rentals (Airbnb demand in Cedar City is strong)
" Subdivide and sell individually
" Execute a phased buildout or bring in partners/investors
Additional notes:
" Strong rental demand in the area across multiple use cases (student housing, long-term rentals, and short-term rentals)
" Due diligence has already been completed, saving significant time and upfront cost for a buyer or builder
" Very few (if any) vacant lots of this size with R-3-M zoning available this close to campus
• 1.03-acre multifamily development lot located at 53 N. Aime Ave., Cedar City, UT 84720
• Zoned R-3-M with no CC&Rs
• All utilities are stubbed and ready to build
• Walking distance to Southern Utah University, ideal for student or workforce housing
• Previously approved by the city for a 24-unit apartment complex or an 8-lot PUD (8 individual townhome lots with separate tax IDs)
• Fully engineered, city-approved, and ready for development
• Includes multiple engineered and stamped plan sets (3 options total), soils report, and completed civil work
• Property has been owned for over 5 years, with 100+ hours invested in planning and due diligence
• Seller is motivated due to bandwidth being full with other projects Development flexibility and options:
" Build and hold as a 24-unit apartment complex. (allows up to 24 units because it is over 1 acre)
" Subdivide into 8 separate townhome lots, with twin homes and basement studios (16 total doors)
" Develop for short-term rentals (Airbnb demand in Cedar City is strong)
" Subdivide and sell individually
" Execute a phased buildout or bring in partners/investors
Additional notes:
" Strong rental demand in the area across multiple use cases (student housing, long-term rentals, and short-term rentals)
" Due diligence has already been completed, saving significant time and upfront cost for a buyer or builder
" Very few (if any) vacant lots of this size with R-3-M zoning available this close to campus
Location
State UT
County Iron
Community Not Applicable
Direction Head N on Sage Dr. Turn L to stay on Sage Dr. Turn R onto Ridge Rd. Turn L onto University Blvd. Turn R onto college way. Turn L onto 45 N. Follow road, lot will be on the left.
Others
Senior Community No
Tax ID B-0046-0007-0000
Listed by Re/Max Properties
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