$259,000
Prime development opportunity in West Lancaster! Seller will consider seller financing with 50% down to well-qualified buyers! This is a strategic in-fill corner lot, at the signalized southwest corner of W Ave J and 32nd St W. This 2.38 acre parcel is zoned R-7000, meaning that the property can be subdivided into lots of around 7,000 sqft each. The seller previously obtained a tract map (TTM 54382), now expired, yielding 9 lots with frontage running along 32nd West. A developer could therefore purchase this property, re-apply for the tract map, and build 9 new construction homes. New homes in West Lancaster are selling for over $500,000 at this time. Another option is for a developer to utilize the new ADU laws and build 18 ''build to rent'' homes on the 9 lots. Water, sewer, gas, and electricity connections are all present. The location is superb, as corner lots are highly desirable. It's in the heart of West Lancaster, across the street from the Central Christian Chruch and right down the street from the Valley Central shopping center and the 14 freeway. This area is rapidly growing, and new home tracts are sprouting up all around. This property could also be suitable for the construction of a single custom home, along with guest houses, pool, etc. It is priced similarly to 2.5-acre custom home lots in the high-end equestrian areas of Palmdale/Lancaster. With all utilities available at the street, a custom home could be an attractive alternative use. This parcel is truly a gem; an in-fill corner lot within a prime area of West Lancaster. This would be a perfect acquisition for a small tract developer, a build-to-rent developer, someone looking to combine this parcel with the adjacent vacant parcels, or someone looking to hold quality land for future appreciation. Don't miss out!
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Listed by Mark Mestepey with Castlestone Properties, Inc. (818) 993-0099
Property Type
Land
Status
Active
MLS Number
SR25120464
Year Built
N/A
Lot Size
2.38 acres