*Price Reduced* 18.53+/- Acres | 200 Townhome Lots
Land | 18.53 acres
Marketing description
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained to offer the opportunity to purchase 200 townhome lots located along Southwest Hulen Street and Alsbury Boulevard in Burleson, TX (the “Site”). The Planned Development zoning is for single-family attached townhome (SF-AT), per Seller this allows for a for-sale or rental community. The Site is 3 miles west of Interstate 35, within the City of Burleson, and just 11 miles south of the Fort Worth CBD. This represents a great opportunity to acquire entitled land at a low-cost basis, as the the price was recently reduced from $23,500 per paper lot to $20,500 per paper lot and $72,000 per finished lot down to $70,000 per finished lot.
A 2% Co-Broker fee is available to a Co-Broker that sources a Principal that VREA has not previously contacted in any format or sent information regarding this opportunity.
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Investment highlights
Strategic Location
· The Site is located 3 miles west of I-35 and a mile west of Highway 174 (SW Wilshire Blvd). Additionally, the Site is located approximately 3.5 miles east of the Chisholm Trail Parkway and 11 miles south of the Fort Worth CBD.
· Major retailers such as Walmart, 7-Eleven, Home Depot, Target, and H-E-B plus are located near the Site.
· The Site is one mile west of Clinkscale Elementary and Burleson High School, both are part of the A- rated Burleson ISD.
Zoning
· Site is entitled for up to 200 attached townhome lots through zoning ordinance 22-131, current concept plan has a mix of front and rear entry garages.
· The ordinance follows SF-AT zoning which allows for a minimum lot size of 2,000 square feet with a minimum width of 20 feet; minimum required living area per unit is 600 square feet and maximum living area per unit is 2,400 square feet.
· Purchaser responsible for platting the Site if they are purchasing paper lots.
· The Site is Phase 1 of a larger 35.21+/- acre development which will contain up to 270 total townhome lots and 7.86+/- acres of retail fronting Alsbury Boulevard.
· Purchaser to verify zoning and uses allowed on the Site.
Population and Demographics
· As of February 2024, the median home price in Burleson was $340,250, a 4.7 percent increase year-over-year.
· According to the U.S. News & World Report, nearby high schools Burleson, Centennial, and Collegiate rank in the top 35% in the nation.
· The multifamily market Asking Rent per CoStar is $1.52 per square foot, while Class A build-to-rent properties are achieving up to $2.16 per square foot.
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