Madras OR B St Madras, OR 97741

Property Details for Madras OR B St

Lot size

12.90 lot acres

Property type

Land

Description

This exceptional 12.9-acre development opportunity in Madras, Oregon, presents 52 fully approved and engineered residential lots ready for immediate development. The property, comprised of four tax parcels, is strategically located near schools, a regional hospital, retail amenities, major employers, and key transportation arteries. Construction bids are already in place for the initial two phases, encompassing 23 lots. This project benefits from Madras's thriving real estate market, characterized by robust new home sales in 2023 that exceeded asking prices, and its affordability compared to neighboring Bend and Redmond. The city's proactive government and urban renewal programs offer additional incentives for developers. The subdivision's design incorporates a variety of lot sizes, including desirable view lots in later phases. The asking price of $1,950,000 is for the entire 52-lot development, with the final price per lot contingent upon the chosen purchase schedule. This presents a compelling investment opportunity in a high-demand area with a strong track record of new construction success. The property's proximity to amenities and its well-planned layout make it an attractive proposition for builders and developers seeking a profitable venture in a desirable Central Oregon location. The project is designed for five phases, with each phase containing between 7 and 12 lots. This flexible phase-in approach allows for a tailored development strategy to suit individual investor needs and market conditions. The existing homes in the area are larger and upscale, indicating a strong potential for high-value residential development.