215 W 5TH ST new Save Request In-Person Tour Request Virtual Tour
Lafayette,OR 97127
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 552806676
Annual Tax Amount $2,795
Tax Year 2024
Lot Size 6.470 Acres
Property Sub-Type Multi Family
Property 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.
Location
State OR
County Yamhill
Area _156
Zoning R-2
Exterior
Utilities Available ElectricityAvailable,Other,WaterConnected
Waterfront Description Creek
View Creek Stream, Trees Woods
Garage No
Building
Lot Description Private, Stream, Trees, Wooded
Schools
Elementary Schools Wascher
Middle Schools Patton
High Schools Dayton
Others
Acceptable Financing CallListingAgent
Listing Terms CallListingAgent