5036 W Avenue L8
Lancaster, CA 93536
30464 sqft | 56 beds | 1.17 acres | #24436295
Description
We 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.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$5,200,000
- MLS #24436295
- MLS #24436295
- Cost5200000
- Acres1.1674
- Square Feet30464
- Year Built1979
- Bedrooms56
- Stories2
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Michael Sterman (#CLW-C129728)
Listing Office: Marcus & Millichap (#CLW-X75151)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
