Description
Exceptional investment and future development opportunity in Elma. Two duplexes (4 total rental units) situated across three adjoining parcels totaling 8.99 acres with GR – General Residential zoning.Current NOI of $40,281 with rents slightly below market, offering immediate upside through rent adjustments. Property is served by City water with septic systems in place; sewer connections are nearby (buyer to verify availability and capacity). No floodplain issues reported.Ample frontage on Garden Hill Rd provides strong access and potential layout flexibility for future development. Adjoining parcels include areas of commercial-grade alder timber, adding additional value components.Rare opportunity to acquire nearly 9 acres with in-place income — ideal for investors seeking land banking with cash flow or developers exploring subdivision potential. Shown by appointment only. Do not disturb tenants.
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0BEDS
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8.99ACRES
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0BATHS
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01/2 BATHS
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5,088SQFT
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$216$/SQFT
Listing courtesy of Northwest MLS as distributed by MLS GRID. Listing courtesy of Riley Jackson Real Estate Inc..
Mortgage Calculator is provided by BoomTown.
Description
Exceptional investment and future development opportunity in Elma. Two duplexes (4 total rental units) situated across three adjoining parcels totaling 8.99 acres with GR – General Residential zoning.Current NOI of $40,281 with rents slightly below market, offering immediate upside through rent adjustments. Property is served by City water with septic systems in place; sewer connections are nearby (buyer to verify availability and capacity). No floodplain issues reported.Ample frontage on Garden Hill Rd provides strong access and potential layout flexibility for future development. Adjoining parcels include areas of commercial-grade alder timber, adding additional value components.Rare opportunity to acquire nearly 9 acres with in-place income — ideal for investors seeking land banking with cash flow or developers exploring subdivision potential. Shown by appointment only. Do not disturb tenants.
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