215 W 5TH St

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.