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

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For Sale

$795,000

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APR for 30 years

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Explore this Property

Prime residential development site in Lake LA. 110 acres of flat, infill land. Only $7,227 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. 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.
MLS# 23008788

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.

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