3716 Elaine Dr - Sullivan Town Homes 1.41 Acres of Residential Land Offered at $920,416 CAD in Lake Worth, FL 33463

Prime 1.41-Acre Development Opportunity – Previously Entitled for 8 Townhomes
Seize this exceptional investment opportunity in a high-demand residential area. This 1.41-acre parcel, previously entitled for an 8-unit townhome development, is an ideal site for builders, developers, and investors looking to capitalize on the area's strong demand for residential housing.
Property Highlights:
Size: 1.41 acres
Zoning: MR-5 (Medium Residential – 5 DU/Acre)
Previous Entitlements: Approved for 8 townhomes
Utilities: Available nearby
Access: Conveniently located near major roads and highways
Surrounding Uses: Mix of single-family homes, townhomes, and multi-family developments
Investment Potential: Strong market demand for housing with rising property values in the area
Location & Market Demand
This property is strategically located near major commercial hubs, schools, shopping centers, dining, and recreational facilities, making it a prime location for residential development. Its proximity to employment centers and transportation corridors enhances its value and attractiveness to potential homebuyers or renters.
The surrounding neighborhood features a blend of single-family residences, townhomes, and apartments, indicating high demand for diverse housing options. The site’s previous entitlements for 8 townhomes make it an excellent opportunity to continue the originally envisioned residential development or explore alternative configurations under the existing zoning regulations.
Zoning & Development Potential
The MR-5 zoning allows for a variety of residential uses, including townhomes, duplexes, and small multifamily developments. The previously approved 8-unit townhome plan demonstrates the feasibility of development and provides a strong foundation for a new project.
Development Possibilities:
Proceed with the previously entitled 8-townhome project
Modify the site plan to accommodate alternative residential layouts
Explore workforce housing incentives or density bonuses
Develop a build-to-rent community for investors
Infrastructure & Accessibility
Road Access: The property is easily accessible via major arterial roads and highways
Utilities: Water, sewer, and electric services are available nearby
Nearby Amenities: Close to schools, shopping centers, medical facilities, and parks
Why Invest?
Strong Housing Demand: The area has experienced consistent population growth, fueling demand for well-located residential projects.
Development-Ready: The site had previous entitlements, saving time on preliminary approvals.
High Market Potential: Townhomes are highly sought-after for first-time buyers, downsizers, and investors.
Flexibility: Various development strategies can be pursued, maximizing returns.
Next Steps
Do not miss this rare opportunity to develop a prime residential site in a rapidly growing market. Contact us today to discuss the property details, zoning allowances, and potential development pathways.
Inquire now to schedule a site visit or request additional information.