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Vac/12th Ste/Vic Avenue Q5 Street E Palmdale, CA 93550

  • lot size area: 1.99
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Land-Active $ 1,350,000

MLS#: 818005023

Courtesy of: Davit Yeghishyan, Realty Nation

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Proposed 120-unit Apartment Building at Market Rate or Affordable Housing. Property is located in Opportunity Zone (Part of Investing in Opportunity Act). Situated on approximately 87,084 square feet lot zoned R4-50 with 148 feet of frontage on 11th & 12th Street East, the property is within 0.80 miles of the High-Speed Rail. The current plans are for a five-story structure consisting of five levels of apartments over above-grade garage & one level of subterranean garage. All units have private patios or balconies. The property consists of twenty 1-bedroom, eighty 2-bedroom, and twenty 3-bedroom units. The project is proposed for 120 total units at market rent. The property features a gym, spa, onsite management office and 2 community rooms. Property is located close to City Hall and major streets. Current owner has Survey, Soils Report & Lot Merger. The City of Palmdale has a 50% Density Bonus for Senior Housing Project. Opportunity to get a total 180 units for Senior Housing with Density Bonus. L.A. County set to build its first new freeway in 25 years http://www.latimes.com/local/california/la-me-high-desert-freeway-20180210-htmlstory.html ********



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