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$2,500,000
Est. payment /mo
8.88 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26135269
Lot Size 8.882 Acres
Property Sub-Type Lots/Land
Property Description
One of the most prolific multifamily development sites in the Antelope Valley. Rarely do institutional developer-grade parcels of this stature hit the open market,and it's also available with attractive seller financing. The subjectproperty provides 8.8 acres of prime-in fill land on the east side of Lancaster, with the city's coveted Mixed Use-Neighborhood (MU-N) zoning. Sitting at the northwest corner of Lancaster Blvd and 20th St E, this parcel is coming to market amidsta historic affordable housing building boom in the Antelope Valley. With strong support from the City of Lancaster and the state, ample LIHTC financing and tax credit availability, and strong renter demand, multiple large-scale affordable housing projects are coming online. This parcel is primed for a developer to join the boom and build a substantial project. Lancaster's MU-N zoning is highly flexible, as it's believed to allow for residential-only projectswith no specific density maximums, and a height maximum of 4-5 stories (buyer to verify all information with the city). Typical multifamily products in the AV tend to be 2-3 stories. With 8.8 net acres and this unique zoning, this location should accommodate anywhere from 100-400 units, depending upon the developer's desired intensity. The seller had previously obtained plans to build 382 units (4-stories) with a retail component. The location is unique, as well. The surrounding pocket is very low-density, dominated by single family homes. Buildings tend to perform well in these suburbanareas, with less QOL concerns such as traffic and noise. Despite b
Location
State CA
County Los Angeles
Direction Northwest corner of Lancaster Blvd and 20th St E.
Interior
Fireplace No
Exterior
View Y/N No
Others
Senior Community No
Tax ID 3147002046
Acceptable Financing Cash, Seller May Carry
Listing Terms Cash, Seller May Carry
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Listed by Mark Mestepey, DRE#01991537 Castlestone Properties, Inc.
Nearby Locations
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