308 E Avenue R8, Palmdale, California 93550, Palmdale, 93550 - bed, bath
ACTIVE$1,500,000
308 E Avenue R8, Palmdale, California 93550
0Bed
0Bath
1,400Sqft
211,165Lot
Year Built
1952
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$1,071
HOA
-
Days on market
-
Sold On
-
MLS number
SR25177689
Home ConditionTear down
Features
Spa
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.50M(99th), sqft - 1400(42th), beds - undefined(1th), baths - undefined(1th).
PRIME LOCATION SIDE TO DIVISION AVENUE OF 5 ACRES, WITH AN ACTUAL 2+2 HOUSE RENTED, CURRENTY WITH APPROVED PERMITS TO BUILD UP TO 15 HOUSES
Price History
Date
Event
Price
08/06/25
Listing
$1,500,000
Condition Rating
Tear down
The property was built in 1952, making it over 70 years old. The listing description explicitly states 'CURRENTY WITH APPROVED PERMITS TO BUILD UP TO 15 HOUSES,' indicating the primary value is in the land for redevelopment, not the existing structure. The provided images show only the exterior, which appears neglected, with debris in the yard, and a very dated house facade. There are no interior photos, which often suggests the interior is not presentable. While the description mentions 'an actual 2+2 house rented,' its condition is likely unlivable or beyond economical repair for its highest and best use, consistent with a property whose value is solely based on the land and its redevelopment potential.
Pros & Cons
Pros
Approved Development Permits: The property comes with approved permits to build up to 15 houses, significantly de-risking and accelerating future development potential.
Substantial Land Size: A generous 5-acre lot (211,165 sqft) provides ample space for the approved multi-unit development, offering significant scale.
Prime Location: Situated in a 'PRIME LOCATION SIDE TO DIVISION AVENUE' in Palmdale, suggesting excellent accessibility and potential visibility for a new residential community.
Immediate Rental Income: The existing 2+2 house is currently rented, providing an immediate income stream that can help offset holding costs during the development phase.
High Investment Potential: The combination of a large parcel, prime location, and pre-approved development plans makes this an exceptional opportunity for developers and investors seeking substantial returns.
Cons
Age of Existing Structure: The current 2+2 house was built in 1952, indicating it is an older structure that may require significant renovation or demolition as part of the development plan.
Significant Capital Requirement: While permits are approved, the actual construction of up to 15 houses will necessitate a substantial capital investment and comprehensive project management.
Limited Information on Existing House Condition: The property description provides minimal details regarding the condition or specific features of the existing 1952-built house, making it difficult to assess its current value or utility without further inspection.