Listed by Sands Investment Group Charleston, Sands Investment Group - FTL
$1,800,000
47 Unit Townhome Development Site - Gig Harbor, WA
Details
Property Type Land
Sub Type Residential, Commercial
Price Per Acre $4
Acreage 3.950
Zoning RB-1 zoning
Investment Type Redevelopment
47-Unit Townhome Development | 3.95 Acres | Highway Access - 64,000+ VPD
Marketing description
Sands Investment Group is pleased to exclusively offer for sale a 47 Unit Townhome Development Site located at 11102 Burnham Drive NW in Gig Harbor, WA. This opportunity features 3.95 acres of land zoned Residential and Business District (RB-1), located along one of Gig Harbor’s busiest and most desirable corridors. The property benefits from a high barrier-to-entry market, strong tenant demand, and long-term upside potential, making it a secure and attractive investment opportunity in a thriving submarket.
Investment highlights
- 3.95 Gross Acres in Prime Gig Harbor: A highly visible and expansive parcel offering significant scale in a high-demand, supply-constrained submarket.
- By-Right Multifamily Density: Density allows 47 units on 3.95 acres in RB-1, assuming essentially full net buildable acreage and no density bonuses.
- Extensive Environmental Due Diligence: The site comes with completed existing conditions mapping saving developers months of feasibility work.
- Flexible exit strategies: The RB-1 zoning allows for SFH, towhhome, or mixed-use configurations, giving developers pivot options depending on market shifts.
- Built-in Natural Amenities: The bisecting stream and buffer provides a permanent, mature tree canopy and natural privacy barrier that will command premium sale or rental prices for the finished units.
- Arterial Frontage: Easy Highway 16 access to employment hubs and shopping.
- High Income Market: $168,820 average household income (3-Miles).
- Middle Housing Demand: High barrier-to-entry market with strong townhome demand.
- Developing Landscape: Rush Residential's Burnham Heights 56-unit SFH development to the northwest and a future mixed-use development coming to the north.
Listing Contacts
Listed by Sands Investment Group Charleston, Sands Investment Group - FTL
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