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$ 990,000
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Active
0 E Ave N/150th St E Lancaster, CA 93535
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR23228791
Property Sub-Type Lots/Land
Property Description
Prime residential development site in Lake LA. 110 acres of flat, infill land. Only $9,000 per acre. One of the few large, undivided land parcels within the town boundaries of Lake LA. Preliminary feasibility report yields approximately 67 1-acre lots. This parcel has street frontage on all sides, with existing housing tracts across the street on 3 sides. Attractive seller financing available. Owner will consider a long-term land loan. Water, electricity, and gas services are all available. Potential mobile home park development site. Home values are strong in Lake LA, with existing homes in the area selling in the $400,000+ range, and new homes are likely to sell in the $500,000+ range. This property sold for $1,240,000 in 2007, when home prices in this area were roughly half of what they are currently. This property is a great value, and it presents a tremendous opportunity for a homebuilders, subdividers, or other investors. Possibilities include subdividing the property and selling off the individual parcels, building a housing tract of new construction homes and selling them for $500,000+, or even building a tract of ''Build to Rent'' homes with ADU's to double the density. This property presents a myriad of potential uses and development opportunities. At $7,227 per acre, this property is a great price for a 110 acre infill parcel that is nestled within existing housing tracts, as opposed to a raw desert parcel with no street frontage or utilities. Buildable infill parcels of this nature are rarely available.
Location
State CA
County Los Angeles
Direction Property is bounded by Ave N to the north, 150th to the west, N8 to the south, and 155th to the east.
Interior
Fireplace No
Exterior
Utilities Available Electric
View Y/N No
Others
Tax ID 3069019005
Listed by Mark Mestepey Castlestone Properties, Inc.