Realtor or Investor or ???

[LFD2037]

My dad has a little over 1 acre w/2 houses, in Arlington. It's 1.2 miles from UTA & 2.3 miles from Cowboys stadium, Rangers stadium, Texas live, etc.
He lives in 1 of the homes & has been remodeling the other home. The one he lives in was built in ~1950. It's in decent shape, about 2,000sq ft. The other house needs a lot of work. It's livable but still needs a lot of work. It's probably older than the other house. The better house is on a little over .25ac & the crappy house is on about .75ac. He's getting older & ready to get out of Arlington & asked me to help him figure out an exit strategy.
Being so close to UTA, he's thinking it'd be great for an investor to come in, bulldoze both houses & build a couple duplexes or whatever (there's quit a bit of duplexes/quadplexes between him & UTA). UTA students are always needing more places to rent around there.
I don't know what his place is worth seeing as it's really hard to find (next to impossible to find) 1ac lots in the middle of Arlington.
Being he's so close to UTA & so close to the big entertainment district they've created @ the Rangers, Cowboys & Texas live, I would think his place is worth a pretty decent amount of money.
Who should we start with to get this ball rolling?
A regular realtor or an investment firm or ?
Regular real estate comps won't even be close as there's probably not another 1 acre lot w/in 5+ miles of him & this is why I don't know where to begin.
Thanks for any input or leads!

[MQ32Shooter]

My dad has a little over 1 acre w/2 houses, in Arlington. It's 1.2 miles from UTA & 2.3 miles from Cowboys stadium, Rangers stadium, Texas live, etc.
He lives in 1 of the homes & has been remodeling the other home. The one he lives in was built in ~1950. It's in decent shape, about 2,000sq ft. The other house needs a lot of work. It's livable but still needs a lot of work. It's probably older than the other house. The better house is on a little over .25ac & the crappy house is on about .75ac. He's getting older & ready to get out of Arlington & asked me to help him figure out an exit strategy.
Being so close to UTA, he's thinking it'd be great for an investor to come in, bulldoze both houses & build a couple duplexes or whatever (there's quit a bit of duplexes/quadplexes between him & UTA). UTA students are always needing more places to rent around there.
I don't know what his place is worth seeing as it's really hard to find (next to impossible to find) 1ac lots in the middle of Arlington.
Being he's so close to UTA & so close to the big entertainment district they've created @ the Rangers, Cowboys & Texas live, I would think his place is worth a pretty decent amount of money.
Who should we start with to get this ball rolling?
A regular realtor or an investment firm or ?
Regular real estate comps won't even be close as there's probably not another 1 acre lot w/in 5+ miles of him & this is why I don't know where to begin.
Thanks for any input or leads!

Check the zoning. If it’s a suprior zoning than Residential, then that will help you determine how to proceed. Maybe those 2 houses have been “grandfathered” for Residential use, but if it’s actually a superior category, then the raw dirt might be worth more than the current improvements.

[LFD2037]

Check the zoning. If it’s a suprior zoning than Residential, then that will help you determine how to proceed. Maybe those 2 houses have been “grandfathered” for Residential use, but if it’s actually a superior category, then the raw dirt might be worth more than the current improvements.

How do I find out the zoning for this particular place? Thanks!

[MQ32Shooter]

How do I find out the zoning for this particular place? Thanks!

You can call the city zoning dept and ask them or you can get on the net, type in City of Arlington Zoning Map. There should be an area where you can type in the address and get it that way.

[Pstraw]

There should be a planning and zoning entity. Contact city hall.

[Preacher Man]

A google search might get you the zoning map. Or the city website. Sometimes the county appraisal district will have it.

[armadillophil]

Pm Sent

[LFD2037]

You can call the city zoning dept and ask them or you can get on the net, type in City of Arlington Zoning Map. There should be an area where you can type in the address and get it that way.

Found it, thanks. It's zoned RS7.2, which is "residential single".
In the same "zone", there's a lot of apartments & duplexes.
I thought residentail single meant single family homes, no apartments or duplexes? Also, directly across the street is a business that's zoned Planned Development & it's encompassed by residential single zone.
I don't know if this is all good or bad or doesn't matter or ?

[MQ32Shooter]

Found it, thanks. It's zoned RS7.2, which is "residential single".
In the same "zone", there's a lot of apartments & duplexes.
I thought residentail single meant single family homes, no apartments or duplexes? Also, directly across the street is a business that's zoned Planned Development & it's encompassed by residential single zone.
I don't know if this is all good or bad or doesn't matter or ?

If it’s currently Residential, then any new construction will have to conform to that classification. But, an owner/buyer can go through the time and expense to petition the city to change the zoning. That can be expensive and time consuming. But, with a Planned Development across the street and duplexes and multi family in the immediate area, you might stands chance in getting it changed to a superior category. With the larger lot sizes, that might be in your favor. Homes as old as your Dads have basically reached the end of their economic life. Best case scenario would be to obtain a superior zoning classification, raze the improvements and hold for future development in conformity with the new zoning. Two clean lots with a good zoning classification could entice an investor.

[LFD2037]

[ATTACH]968576[/ATTACH]
His properties are in the red circle. The blues are businesses & the reds are zoned community commercial & neighborhood commercial. Looks like it's be pretty easy seeing as so many locations around there zoned commercial or business.

[MQ32Shooter]

Check you PM’s