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Townhome Investment and Development Opportunity at 409–417 Hunter Drive in Watertown, Minnesota
A compelling multifamily investment and development opportunity is now available at 409–417 Hunter Drive, Watertown, MN 55388. The offering combines five existing townhomes with the ability to add seven more units, creating a rare opportunity to acquire an income-producing property with meaningful expansion potential.
The larger development site, originally platted as 401–423 Hunter Drive, was designed to accommodate a total of 12 individually platted townhome units. Five units have already been constructed at 409–417 Hunter Drive, leaving approvals and space for seven additional residences.
Five Existing Townhomes
The existing building consists of five two-story townhomes. Four residences offer two bedrooms and two bathrooms, while one features three bedrooms and two bathrooms. Each unit contains approximately 1,408 finished square feet, with about 704 square feet on each level.
The homes feature walkout lower levels and attached two-car garages. Several units have updated kitchens, and the building has benefited from newer windows and entry doors. The roof was replaced approximately nine years ago.
Because every existing townhome and undeveloped lot has its own individual property identification number, a future owner may have considerable flexibility when evaluating rental, resale and development strategies.
Room to Build Seven Additional Units
What makes this offering especially attractive is the opportunity to expand the development from five residences to its originally planned total of 12.
The existing five units were constructed with approximately 22-by-32-foot footprints, even though their lots were platted to accommodate footprints of approximately 22 by 48 feet. This provides the opportunity to construct three potentially larger townhomes immediately south of the existing building.
The development plan also provides room for four additional units on the north lawn. Each of those four lots allows for an approximately 22-by-66-foot building footprint, potentially supporting substantially larger residences than the five homes currently on the property.
A buyer could explore several strategies, including completing all seven remaining units, developing the property in phases, holding the existing homes as rentals, or selling completed units individually. All future construction, design and use plans would remain subject to applicable governmental approvals and confirmation by the buyer.
An Opportunity in a Growing West-Metro Community
Watertown offers a small-town environment with convenient access to the western Twin Cities. Its location provides connectivity to communities such as Waconia, Delano, Mayer, Chaska and the Lake Minnetonka area while preserving the quieter atmosphere many residents seek.
Demand for practical, low-maintenance housing continues to create opportunities in growing communities outside the urban core. Townhomes can appeal to a broad range of residents, including first-time buyers, professionals, families and people looking to downsize without sacrificing private entrances, attached garages or comfortable living space.
The combination of existing housing and buildable land makes 409–417 Hunter Drive particularly noteworthy. Rather than starting with a completely vacant parcel, an investor or developer can acquire five completed residences together with an established development plan and room for future growth.
A Flexible Investment With Multiple Paths Forward
Few opportunities combine immediate real estate value with the ability to more than double the number of completed units. The five existing townhomes provide a substantial foundation, while the seven additional platted units create the potential for future appreciation and development income.
Whether the objective is to operate the existing units, complete the remaining townhomes, sell units individually or pursue a combination of these strategies, this Watertown offering deserves serious consideration.
To learn more about the townhomes and development opportunity at 409–417 Hunter Drive, Watertown, MN 55388, request financial information or arrange a private property tour, contact:
David Gooden
CommercialZip.com
The Dane Arthur Real Estate Agency
612-367-6025
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