What would you do with 10 acres of undeveloped land?
I am new to real estate investing and have this amazing opportunity to bring a great idea to a land owner that is looking for ways to use 10 acres of undeveloped land. If all goes well, I am hoping that this can catapult my real estate investing career forward. Exciting stuff! The land is located in Lancaster, CA and is owned free and clear. The land has been untouched for around 30 years and the land owner is only recently thinking of what can be done with the property. Here are the details regarding the land and the surrounding areas:
- No buildings, structures, homes, or roads on the land currently. Just a large vacant lot. Electrical wiring can be seen running across the lot, but no knowledge of functioning sewage or water.
- Zoning: A-2-5 (This zoning permits a comprehensive range of agricultural uses in areas particularly suited for agricultural activities. Permitted uses are intended to encourage agricultural activities and other such uses required for, or desired by, the inhabitants of the community. An area so zoned may provide the land necessary to permit low density single-family residential development, outdoor recreational uses, and public and institutional facilities.)
- The land is flat and even with small bushes, weeds, and shrubs.
- The immediate surrounding areas are large, vacant lots with some homes sprinkled in here and there (maybe 5-10 farm style homes on large plots of land).
- The closest stores/shopping areas/neighborhoods are 3-5 miles away.
- Lancaster has a high crime rate (higher than in 87% of U.S. cities).
- The land is surrounded by large, unkept, and vacant lots for miles.
- The land is on the outskirts of Lancaster.
I have thought about mobile homes, manufactured homes, an older residential living community, and more. I'm hoping that the experienced investors and developers can help an inexperienced newcomer out. All ideas and brainstorming are welcome!