$ 5,200,000
5036 W Avenue L8 Lancaster, CA 93536
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$ 5,200,000
Est. payment /mo
Active
5036 W Avenue L8 Lancaster, CA 93536
56 Beds
56 Baths
30,464 SqFt
UPDATED:
11/14/2024 10:47 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 30,464 sqft
Price per Sqft $170
MLS Listing ID 24436295
Bedrooms 56
HOA Y/N No
Year Built 1979
Lot Size 1.167 Acres
Property 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.
Location
State CA
County Los Angeles
Area Qhl - Quartz Hill
Zoning LCR3*
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Garage Gated
Parking Type Gated
Total Parking Spaces 64
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 3102022029
Special Listing Condition Standard
Listed by Michael Sterman • Marcus & Millichap