Ave R Multi-Family Development Site

2.04 Acres of Residential Land Offered at $500,000 USD in Palmdale, CA 93550

Asking Price $500,000

Property Type: Land

Listing Contacts

Harvey Holloway

Verified Profile

Property Info

Property Overview

2.04 +/- acres multi-family development site located in the state *Opportunity Zone! RN-2 zoning allows 10-20 DU/AC and current density bonuses could increase the yield considerably! Preliminary drawings utilizing available density bonuses prepared by seller show a potential for 80 units! This is a great infill location nestled between 2 churches with over 200ft of frontage along Avenue R and SFR to the south! Avenue R is currently undergoing street widening and signal improvements to help increase its traffic capacity to better accommodate this growing area!
*Opportunity Zone: Palmdale’s designated census tract zones lets businesses invest for valuable tax benefits. Invest-ments made by individuals through special funds in these zones defer or eliminate federal taxes on capital gains. https://www.irs.gov/newsroom/opportunity-zones

Property Details

Property Subtype: Residential/Multifamily

Highlights

Located in Opportunity Zone!
Great in-fill location close to schools and shopping!

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