120-Unit Zoned Site | Opportunity Zone | Seller Financing
Land | 32.4 acres
Marketing description
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer builders and developers the opportunity to purchase a 32.4+/- acre, 120-unit duplex development site (the “Site”) located along Garden Valley Road in Tyler, Texas. The Site is currently zoned R-1D and PUR which allows up to 120 units on the 120 platted duplex lots; a Developer can do “for sale” or “for rent” product. It is our understanding the 9.34+/- acres on the southside of Garden Valley Road that is zoned R-ID can also be developed as single family detached homes or modular homes.
Ownership’s existing third-party reports and construction plans to be conveyed at Closing. The Site is located less than a mile east of Loop 323. At a price of $11,667 per Developable Unit ($0.99 PSF), this is an excellent value for entitled lots in a rapidly growing market in East Texas. Ownership would consider Seller Financing with a 50% down payment with a qualified buyer, call to discuss in more detail.
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Investment highlights
Strategic Location
The Site is located adjacent to the prestigious Willow Brook Country Club and has frontage on Garden Valley Road less than a mile east of Loop 323.
The Site is less than 2 miles northeast of the intersection of Loop 323 and Highway 64, which boasts numerous national retailers.
The Site is well located within Tyler ISD only half a mile west of Ramey Elementary School, half a mile east of Boulter Middle School, and 1 mile northeast of Tyler High School.
Zoning
The portion of the Site located on the north side of Garden Valley Road is zoned PUR. The Site on the south side of Garden Valley Road is zoned R-1D.
The Site is platted for 120 duplex lots for up to 120 developable duplex units. It is our understanding the 9.34+/- acres on the south side of Garden Valley Road that is zoned R-ID can also be developed as detached single-family lots or manufactured houses.
The Site is currently located within an Opportunity Zone.
Ownership will also be conveying all third-party reports and existing construction plans at Closing.
Purchaser to confirm zoning, capacity, and uses allowed on the Site.
Population and Demographics
According to the 2022 U.S. Census Bureau, Tyler has a population of approximately 109,286.
As of July 2024, the median home price in Tyler rose 1.5 percent year-over-year to $340,000.
According to Texas Realtors, median price per square foot of single-family home sales in July 2024 is $176.35.
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