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E Ave N/150th St E, Lancaster, CA 93535

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$695,000

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APR for 30 years

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Unbelievable price for a prime residential development site! 110 acres of flat, in-fill land in the Lake LA area of the Antelope Valley. Only $6,272 per acre. One of the few large, undivided land parcels within Lake LA. This is NOT 110 acres in the middle of the desert. Instead, this substantial property is nestled within an established neighborhood with utilities and paved street frontage. The street frontage is present on all 4 sides, with existing housing tracts across the street on 3 sides. Water, electricity, and gas services are all available at the street. Home values are strong in Lake LA, with existing homes in the area selling in the $400k+ range. This 110-acre property can be purchased for the price of less than 2 typical homes in the area. This property also sold for $1.2m in 2007. As such, this property is a tremendous value with a wide variety of potential uses. The current zoning is ''light agricultural'', with 2-acre lot minimums. Thus, per an engineer's preliminary feasibility report, the property can be subdivided into approximately 34 2-acre lots without any zone changes. Other possible uses within the current zoning include building a large ranch w/custom home, solar farm, or a mobile home park. With a zone change to 1-acre lot minimums, which would put it in line with the rest of Lake LA, the property can be subdivided into approximately 67 1-acre lots. Developers may be able to build a subdivision of new construction ranch homes that can sell for $400-500k+ or build a subdivision of ''Build to Rent'' homes with ADU's and Junior ADU's to double or even triple the density. Utilizing these ADU laws, along with the previously mentioned zone change, a 67-lot subdivision may potentially allow for 201 units. With that said, this property is truly a rare opportunity. Whether it's someone just looking for huge expanse of raw land with a great in-fill location, or a developer looking for the perfect development site, this property is ready for your visio
MLS# 25005770

Courtesy Of Castlestone Properties, Inc.

(818) 993-0099

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Directions to E Ave N/150th St E, Lancaster, CA 93535

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.