87+/- Townhome Lots (Paper or Finished) Mansfield, TX

Highlights:

• This Site is strategically positioned less than half a mile between Highway 287 and State Highway 360.
• The Site is adjacent to the South Pointe community where builders Coventry Homes, David Weekley Homes, Drees Homes, Grand Homes, K Hovnanian Homes, and Boyd Custom Homes are selling homes up to $1.2 Million. Directly north is the Mitchell Farms community, featuring homes by Brightland Homes selling up to $689,990.
• The Site is served by Mansfield ISD which has an “A” rating per Niche.com.
• The Site is currently zoned in a Planned Development allowing for attached townhomes with a minimum living area of 1,500 square feet.
• Per the Planned Development guidelines, the Site has a minimum lot size of 22’ x 80’ and requires rear-entry access.
• Ownership has a pending preliminary plat showing 87 attached townhome lots but has not yet resubmitted the plat for City’s approval allowing for potential flexibility in lot size and layout.
• The zoning allows for “For Sale” or “For Rent” products to be developed on the Site.
• According to the U.S Census, the population of Mansfield is approximately 78,542.
• Per Texas Realtors, the Median Townhome Price in Mansfield as of November 2024 was $422,500, a 100 percent increase year-over-year.
• The Median Home Price per Square Foot in Mansfield is $182.48 as of November 2024.

Description:

Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer home builders and developers the opportunity to acquire 87+/- townhome lots (the “Site”) located along South Mitchell Road in Mansfield, TX; Ownership’s preference is to sell paper lots but they would also be open to selling and developing finished lots. Ideally situated equidistant to Highway 287 and State Highway 360, the Site benefits from Planned Development Zoning, which allows for attached townhomes that would be conducive to “For Sale” or “For Rent” product. Ownership has a conditional preliminary plat that is pending city approval showing 87 townhome lots, with primarily 22’ x 80’ lot sizes. The Planned Development Zoning requires a minimum living area of 1,500 SF and rear entry garages. The Site is served by Mansfield ISD which has an "A" rating per Niche.com. This represents an exceptional opportunity to deliver a new residential offering in a thriving suburb of the DFW metroplex at a price of only $32,000 per paper lot or $82,000 per finished lot.

To gain access to the Due Diligence Vault click on the link below:
https://docsend.com/view/s/2znxr8h3yzt6ytci

Documents: