For Sale
$3,000,000

K-8 W & AveLancaster, CA 93534

7.47-acre prime residential development site

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 7.47-acre parcel, located at the southeast corner of 15th Street West and West Avenue K-8 in Lancaster, CA (APN 3125-010-071), presents a remarkable multi-family development opportunity. Zoned LRCPD (Regional Commercial Planned Development), this unencumbered site allows for diverse uses including multifamily residential (affordable, workforce, and build-to-rent options), hotel, retail, office, and entertainment. Its strategic location offers excellent frontage along 15th Street West with convenient access to the Antelope Valley Freeway (CA Hwy 14) via Avenue L ramps. The property is surrounded by existing multi-family, senior, and single-family housing, as well as retail centers, ensuring a strong existing infrastructure and market demand. The site's proximity to major aerospace employers like Northrop Grumman, Lockheed, Boeing, General Atomics, and NASA in nearby Palmdale, contributes to a robust and growing regional employment market, further enhancing the investment potential. The anticipated increase in employment opportunities, both directly and indirectly related to these aerospace companies, creates a significant demand for housing and supporting services. The property is also conveniently located near the Lancaster Commerce Center, a major retail hub featuring Costco, Target, and other prominent businesses. This prime location, coupled with the flexible zoning and substantial lot size, makes this an exceptional investment opportunity for developers seeking to capitalize on the thriving Lancaster market and the burgeoning aerospace industry. The asking price for this exceptional property is $3,000,000.

Highlights

  • $3,000,000 asking price for 7.47 acres of land in Lancaster, CA.
  • LRCPD zoning permits multi-family residential development, among other uses.
  • Excellent location at a major interchange in North Los Angeles County, with frontage on 15th Street West and access to CA Hwy 14.
  • Surrounded by existing residential and retail developments, near the Lancaster Commerce Center.
  • Strong employment growth anticipated due to aerospace industry activity in nearby Palmdale.

Property Details for K-8 W & Ave

Property type
Land
Lot Size (sq. ft)
325,393 SF

Location Insight

City
Lancaster
County
Los Angeles
State
California
Latitude
34.667065306928
Longitude
-118.15680579904
K-8 W & Ave, Lancaster, California

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K-8 W & Ave
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