0 E AVE N/150TH ST E E, LANCASTER CA 93535

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. It also has great mountain views. Home values are strong in Lake LA, with existing homes in the area selling in the $400k+ range, and new homes are likely to sell in the $500k+ 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 agricultural, with 2-acre lot minimums. With this zoning, the property may be well-suited for a custom estate home, a large-scale agricultural operation, solar farms, or a mobile home park (believe to be allowable with the current zoning). With a zone change to 1-acre lot minimums, which would put it in line with the rest of Lake LA, an engineer's preliminary feasibility report yields approximately 67 1-acre lots. With this zoning, developers may be able to build a subdivision of new construction ranch homes that can sell for $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, 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 vision.

Listing Courtesy of Mark Mestepey, Castlestone Properties, Inc.