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Listed by Elijah Vlcek • eXp Realty LLC
$ 500,000
Est. payment | /mo
1.31 Acres Lot
$ 500,000
Est. payment | /mo
1.31 Acres Lot
Key Details
Property Type Multi-Family, Vacant Land
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1606240
HOA Y/N No
Annual Tax Amount $5,167
Tax Year 2025
Lot Size 1.314 Acres
Acres 1.314
Property Sub-Type Multi Family
Property Description
BUY & BUILD | 38-UNIT MULTIFAMILY DEVELOPMENT OPPORTUNITY
Rare opportunity to own and develop approximately 1.32 acres in Eau Claire's growing Cannery District! This vacant parcel comes with a city-approved development plan for a 38-unit apartment community, offering investors and developers a head start on their next project.
The proposed development features two apartment buildings with a mix of studio, 1-bedroom, and 2-bedroom units, along with 17 garage parking stalls and 19 surface parking stalls.
Located near downtown Eau Claire, the Chippewa River, parks, trails, and ongoing redevelopment, this property is ideally positioned to take advantage of continued investment and demand for housing in the area.
Pro Forma Highlights:
• 38 planned apartment units
• Approximately 1.32 acres
• $675,051 projected annual rental income
• $452,284 projected annual net operating income
• $7,528,070 projected stabilized value at a 6.0% cap rate
Whether you're an experienced multifamily developer or an investor looking for your next opportunity, this property offers a compelling combination of location, planning, and development potential.
BUY THE LAND. BUILD THE VISION. INVEST IN EAU CLAIRE'S GROWTH.
Development plans and pro forma available for review. Buyer to verify approval status, remaining permitting requirements, financial projections, and all development details with the City of Eau Claire.
Rare opportunity to own and develop approximately 1.32 acres in Eau Claire's growing Cannery District! This vacant parcel comes with a city-approved development plan for a 38-unit apartment community, offering investors and developers a head start on their next project.
The proposed development features two apartment buildings with a mix of studio, 1-bedroom, and 2-bedroom units, along with 17 garage parking stalls and 19 surface parking stalls.
Located near downtown Eau Claire, the Chippewa River, parks, trails, and ongoing redevelopment, this property is ideally positioned to take advantage of continued investment and demand for housing in the area.
Pro Forma Highlights:
• 38 planned apartment units
• Approximately 1.32 acres
• $675,051 projected annual rental income
• $452,284 projected annual net operating income
• $7,528,070 projected stabilized value at a 6.0% cap rate
Whether you're an experienced multifamily developer or an investor looking for your next opportunity, this property offers a compelling combination of location, planning, and development potential.
BUY THE LAND. BUILD THE VISION. INVEST IN EAU CLAIRE'S GROWTH.
Development plans and pro forma available for review. Buyer to verify approval status, remaining permitting requirements, financial projections, and all development details with the City of Eau Claire.
Location
State WI
County Eau Claire
Interior
Fireplace No
Exterior
Utilities Available Electricity Available, Natural Gas Available
Water Access Desc Public
Building
Lot Description Level
Sewer Public Sewer
Water Public
Schools
School District Eau Claire Area
Others
Tax ID 090269