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5036 Avenue L8, Lancaster, CA 93536
Priced at Only: $5,200,000
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Mobile: 714.478.6676
Address: 5036 Avenue L8, Lancaster, CA 93536
Property Photos
Property Location and Similar Properties
- MLS#: 24436295 ( )
- Street Address: 5036 Avenue L8
- Viewed: 5
- Price: $5,200,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1979
- Bldg sqft: 0
- Days On Market: 112
- Additional Information
- County: LOS ANGELES
- City: Lancaster
- Zipcode: 93536
- Provided by: Marcus & Millichap
- Contact: Michael Michael
- DMCA Notice
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DescriptionWe are pleased to present 5036 W Ave L8, a 34 unit apartment building located in Quartz Hill, California, a charming community in the northern part of Los Angeles County. Built in 1979, the property consists of twelve (12) one bedroom + one bathroom units and twenty two (22) two bedroom + two bathroom units.5036 W Ave L8 is located in a peaceful residential area of Quartz Hill. Outdoor enthusiasts can explore the nearby Antelope Valley California Poppy Reserve, which is renowned for its stunning wildflower blooms, especially during spring. For a taste of local history and culture, the nearby Lancaster Museum of Art and History provides exhibits and events celebrating the region's heritage. Quartz Hill is about 60 miles northeast of downtown Los Angeles. It's easily accessible via Highway 14, which connects it to both LA and the high desert, and Interstate 5, linking it to the city and Central Valley. This central location offers a blend of rural charm and convenient access to major urbanamenities.5036 W Ave L8 represents a unique value add opportunity for investors due to the property's location and rental upside. The property offers an initial CAP rate of 6.20% with the ability to improve to a 8.91% CAP rate once units turnover.
Features
Building Area Total
- 30464.00
Cooling
- Central Air
Country
- US
Heating
- Central
Levels
- Two
Netoperatingincome
- 308210.00
Parcel Number
- 3102022029
Parking Features
- Gated
Sourcesystemkey
- 24-436295:CLAW
Totalexpenses
- 243340.00
Year Built
- 1979
Zoning
- LCR3*
- Xavier Gomez, BrkrAssc,CDPE
- RE/MAX College Park Realty
- BRE 01736488
- Mobile: 714.478.6676
- Fax: 714.975.9953
- salesbyxavier@gmail.com