440 N 14TH AVE new Save Request In-Person Tour Request Virtual Tour
Cornelius,OR 97113
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 126704531
Annual Tax Amount $3,203
Tax Year 2024
Lot Size 0.340 Acres
Property Sub-Type Multi Family
Property Description
Welcome to 440 N 14th Ave, a rare infill opportunity in the heart of rapidly growing Cornelius. This 14,810 sq ft (0.34-acre) lot is zoned Core Residential (CR), allowing for a wide range of housing types including townhomes, duplexes, and multifamily options. A preliminary pro forma outlines a potential 8-unit townhome development with each unit projected to sell at $435,000, offering a total revenue potential of $3.48 million and a projected 15% profit margin or $522,000. The property currently features a 2-bedroom, 1-bath, 1,435 sq ft home that could generate rental income during the permitting phase. With utility as-builts available and city water and sewer at the site, this parcel is ready for transformation. Located just minutes from schools, parks, and the Cornelius town center, and in a community seeing strong household income growth and increased housing demand, this site is ideal for developers or investors seeking a turnkey build opportunity in a thriving market.
Location
State OR
County Washington
Area _152
Zoning CR
Exterior
Utilities Available CableConnected,ElectricityConnected,PhoneAvailable,PhoneConnected,PublicSewer,WaterAvailable
Building
Lot Description Corner Lot
Schools
Elementary Schools Cornelius
Middle Schools Tom Mccall
High Schools Forest Grove
Others
Acceptable Financing Cash,Conventional,Other
Listing Terms Cash,Conventional,Other