622 Seven Points Dr Seven Points, TX 75143

This exceptional 8.3-acre site in Seven Points, Texas, presents a compelling multifamily development opportunity. Strategically located off Seven Points Boulevard, the property enjoys convenient proximity to Brookshires, restaurants, and Cedar Creek Lake, enhancing its appeal to potential residents. The land is comprised of three acres zoned commercial and 5.3 acres zoned multi-family, offering immediate development potential. The city is open to rezoning the remaining commercial acreage for multifamily use, streamlining the development process. The property boasts excellent access via Seven Points Boulevard and Wood Drive, with flat topography and readily available utilities. Adding to its attractiveness, this site is situated within an Opportunity Zone and qualifies for DDA tax credits, providing significant financial incentives for developers. A recent report indicates a 400-unit apartment shortage in Seven Points, underscoring the strong demand for new housing. Current rents for older complexes average $1.50 per square foot, with potential for new construction to command $2.00 per square foot. The seller demonstrates flexibility, offering potential buyers time to navigate city approvals or the opportunity to partner with suitable investors. The east side of the property borders Wood Drive, providing additional access and privacy. This is a rare chance to capitalize on the burgeoning growth of Seven Points, fueled by population increases from neighboring Kemp and Gun Barrel City. The asking price is $1,000,000.