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Avenue R near 20th St East - Ave R Multi-Family Development Site
2.04 Acres of Residential Land Offered at $500,000 in Palmdale, CA 93550
Investment Highlights
- Located in Opportunity Zone!
- Great in-fill location close to schools and shopping!
Executive Summary
*Opportunity Zone: Palmdale’s designated census tract zones lets businesses invest for valuable tax benefits. Investments 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 Facts
| Price | $500,000 | Property Subtype | Residential |
| Sale Type | Investment or Owner User | Total Lot Size | 2.04 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land |
| Price | $500,000 |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 2.04 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $500,000 | Lot Size | 2.04 AC |
| Price Per AC | $245,098 |
| Price | $500,000 |
| Price Per AC | $245,098 |
| Lot Size | 2.04 AC |
2.04 +/- acres with apx. 216ft of frontage along Ave R and a depth of apx. 410ft.
Description
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 TAXES
| Parcel Numbers | Improvements Assessment | $304,864 | |
| Land Assessment | $230,548 | Total Assessment | $535,412 |
PROPERTY TAXES
zoning
| Zoning Code | RN 2 (10-20 DU/AC) |
| RN 2 (10-20 DU/AC) |
-
Harvey Holloway -
Coldwell Banker Commercial Valley Realty
Presented by
Avenue R near 20th St East - Ave R Multi-Family Development Site
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