31
See all 31 photos
$2,990,000
Est. payment /mo
10.17 Acres Lot
Pending
19625 County Road 20 Foley, AL 36535
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 376360
Annual Tax Amount $1,360
Lot Size 10.170 Acres
Property Sub-Type Multi Family
Property Description
SHADOW LAKES IS A PREMIER 10.17 ACRE (DIVIDED INTO 18 LOTS) SIX-PLEX TOWNHOME DEVELOPMENT located in the City of Foley, AL; one of Alabama's fastest-growing residential real estate markets. This fully entitled Planned Unit Development (PUD) is APPROVED FOR 108 TOWNHOME UNITS, offering investors and developers an immediate, shovel-ready residential project with ALL INFRASTRUCTURE ALREADY INSTALLED (PAVED ROAD WITH CURBING, WATER, GRAVITY SEWER, CABLE, PHONE, INTERNET, STORM DRAINS & RETENTION AREAS). Having CIVIL ENGEERING & CONSTRUCTION PLANS (with M&E) COMPLEATED and INFRASTRUCTURE ALREADY INSTALLED saves a Developer millions of dollars and over a year and a half of time. Shadow Lakes Phase 1 (Re-Platt) is located within 0ne of two Opportunity Zones in Foley, Alabama. They are identified by census tracts 1003011501 and 1003011502. Opportunity Zones are part of a federal program established to encourage investment in low-income communities through tax incentives to investors. Investing in properties within these zones can provide significant tax benefits, including deferral of capital gains along with potential exclusions on future gains from the investment. Being that Shadow Lakes Phase 1 (Re-Platt) falls within one of Foleys Opportunity Zones, investors may be eligible for these incentives, increasing the properties appeal and potential return on investment. The property is strategically positioned near major highways, retail, employment hubs, Beaches, Amusement Parks and resort districts; making it ideal for build-to-sell or build-to-rent. With zoning and PUD approved, this turnkey project removes the uncertainty of the entitlement and permitting process, allowing investors to move forward immediately with construction. Please see all attached documents for further details. Buyer to verify all information during due diligence.
Location
State AL
County Baldwin
Area Foley 2
Exterior
Utilities Available Cable Available, Riviera Utilities
Waterfront Description No Waterfront
View Y/N Yes
View Other-See Remarks
Garage No
Building
Lot Description Other, 10-25 acres
Schools
Elementary Schools Foley Elementary
Middle Schools Foley Middle
High Schools Foley High
Others
Ownership Whole/Full
Virtual Tour https://youtu.be/5hXd8zvCY7Y
Listed by Realty Executives Gulf Coast