10Th St Palmdale, CA 93550

Exceptional opportunity to acquire ±8 acres of residential land in Palmdale, California. This property, encompassing two parcels (APN 3012025025, 3012025024) located on East 10th Street, is zoned RN-3, allowing for the development of 20-30 units per acre, potentially yielding over 240 units across four floors. The site boasts convenient access to Highway 14 via Avenue S, providing easy access to the Los Angeles metro area. All utilities (water, electric, phone, gas) are reportedly available in the street (buyer to verify). This prime location within the Antelope Valley offers a desirable rental market with low vacancy rates and affordable housing options, attracting renters from the larger Los Angeles County population. The property is situated in a designated Opportunity Zone, presenting additional tax advantages. Furthermore, there's potential to expand the land holdings by acquiring an adjacent ±6.2-acre parcel, resulting in a total of approximately 14 acres. Building height restrictions permit structures up to 50 feet, suitable for apartments, mid-rise buildings, or townhomes. A low-income density bonus of up to 50% may be available. The asking price is $3,480,000. A video showcasing the property is available online.