850 Downs St Ridgecrest, CA 93555

Exceptional investment opportunity: a 13.3-acre parcel in Ridgecrest, California (APN 3132-010-010, 024), zoned R2, is available for $2,950,000 ($5/SF). This shovel-ready site is entitled for a 198-unit multifamily development, with approved plans for Phase 1 already in place. The project features townhouse-style units, each with enclosed parking, eliminating the need for shared spaces above or below. Located at 850 S Downs St, Ridgecrest, CA 93555, the property boasts a prime location on a bike path leading to the town's retail center. The strong local demand is underscored by the absence of new market-rate multifamily housing in over 30 years, coupled with an average household income of approximately $70,000. Furthermore, a significant $3 billion investment in China Lake Naval Base improvements over the next five years is anticipated to bring 1,000-2,000 construction workers to the area, creating substantial potential for pre-leasing a significant portion of the first phase (22 units or more). This presents a unique chance to capitalize on a burgeoning market and a highly desirable location.