Lot in question - what to research for

[George P.]

A large lot in question.
Specs:
* About 4 acres
* Zoned Multifamily/Apartments
* Highly populated and desired area of the suburbs
* Off major road, next to large apartment complex, Townhomes community
* The road that takes to the lot is narrow (no through-traffic), and has a dead end.

Given that the lot can be purchased (really) cheap, but there is no assistance from the seller and no land research experience on my part, what do I need to do for DD? What do I need to research to make sure the lot is in fact buildable, has communications and such?

Essentially, I would like to buy and hold for appreciation (less likely), or look for a partner to develop.

Any advise is highly appreciated.
Thank you in advance!

[Bill Gulley]

Check with your building regs department and see if it is available to build on, some or most or all of it could be limited as green space, water retention, flood plain or other issues as it is built up all around the subject property.

If it is available, you said it could be obtained cheaply, how would you know that....is it listed? Has it been appraised?

It could very well be a good speculative property, OTH the city may have some limits as to future building based on population concentration of that area, without widening roadway for higher traffic counts for example. The building regs folks should be able to assist you as well on future planning.

Good luck with it.