About This Home

This land at Ritchie Road in Lorena, TX is listed for $4,959,830 (18.98 acres).

Key Features

  • 18.98 acre lot
Listing Description

18.975 acre multifamily development site located along Ritchie Road in the Waco, TX ETJ. The Site is accessible via Ritchie Road, Devonshire Road, and is less than 2 miles east of Interstate 35. Ownership has completed plans for a phase 1, 278 unit garden-style project on approximately 9.74 acres of the property that is fronting Ritchie Road.

This would leave the remaining 9.24 acres for a phase 2 on which Ownership anticipates 280 units can be built. Additionally, as it relates to the phase 1 plans, Ownership had received an invitation letter for a HUD 221 (d)(4) loan in the past. Ownership has also had positive conversations in the past regarding a possible HFC execution on the Site.

Location

Ritchie Road

Lorena, TX 76655

Questions & Answers

This 0-bedroom, 0-bathroom land at Ritchie Road is listed at $4,959,830. The estimated monthly payment is $26,527 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: 18.98 acre lot.

This property is listed by Jordan Cortez.

JC

Jordan Cortez

Agent at Vanguard Real Estsate Advisors

Listed by Vanguard Real Estsate Advisors · Broker phone: (214) 556-1951 · View on Broker Site

MLS# 21399074· Source: North Texas Real Estate Information Systems, Inc.· 8 days on PropertySimple

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Ritchie Road, Lorena, TX 76655

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