25 Acres R-40 zoning that is ready for multifamily development. A total of 875 (375-250-250) unites in 3 phases has been planned in the next three years. Will exit by selling out/partnering with one of several potential developers in the next three years so a three year loan will be ideal. All City Services are at the property (water, sewer, Gas, waste etc.). A beautiful club house/ reception hall is already built on the property. An upscale shopping center is planned next door. The property is on the corner of two highways and a main road.  Client wants to pay off a current loan of $1,000,000 and use the cash-out for another business opportunity and improvement on the property itself to include club house additional facilities. Current value is $9 Million using $8000/unit plus $2,000,000 for the 15,000 sq ft club house and its reception hall. Serious inquiries only please. NO upfront fees will be entertained