705-713 Ne 3rd St #1-9

Amazing Opportunity – 9 Apartment Units on an Oversized 13,430 SF Lot (0.31 Acres) This is a rare value-add opportunity featuring 9 apartment units situated on an oversized 13,430 SF lot (0.31 acres). The property offers several recent improvements, including impact windows installed by the previous owner and a new roof completed in 2018. Interior finishes include a mix of vinyl flooring and tile flooring throughout the units. In terms of cooling, 2 units have split A/C systems and 7 units have window A/C units. 9 Assigned Parking Spaces Current rents are below market, creating significant upside potential for a new owner. The location is exceptional, and the redevelopment potential is tremendous. According to zoning, the property may allow for the development of a new 5-story multifamily building with up to 15.42 units and approximately 8,774 SF of building area. Investment Highlights: Strong value-add play through rent increases Opportunity to modernize units and significantly boost NOI Large lot offering future redevelopment optionality Located in a prime rental corridor with strong demand fundamentals This creates a rare covered land play — generate income today while planning a future redevelopment exit. You’re not buying into a location — you’re buying into an established urban core. Buyer must independently verify all zoning, density, and development potential with the appropriate zoning department and conduct their own due diligence.