Vacant Double Lot - Now What??

[Zach Harsin]

Hi All,

I'm looking for some thoughts on a potential deal I recently came across.

This would be an off-market purchase of a double lot (99' x 140'), and it's Zoned R2. As we begin to put together build costs, I will let the numbers dictate the end goal, but I'm curious which option you would lean towards...

It is in a good area of town that has a nice mix of rentals to owner occupied SFR. There is a mix of duplexes in the area, but not many new ones. It is definitely a forgotten little gem of a lot.

1. Build a Duplex and keep as a rental.

2. Build a Duplex, fill with tenants and sell as a turn-key property to an investor.

3. Build two townhomes and sell individually.

Again, we just came across the deal this week and will be collecting some numbers next week to begin doing a more detailed analysis, I'm just curious where you would lean.... 

Have a great Labor Day Weekend! And thanks for the input in advance.