5036 W Avenue L8, Lancaster, CA 93536
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Listed Price :
$5,200,000
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Beds :
56
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Baths :
56
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Property Size :
30,464 sqft
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Year Built :
1979
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.
Interior Features
| Bedroom Information |
| Bedrooms |
56 |
| Bathroom Information |
| Bathrooms |
56 |
| Interior Information |
| Cooling Type |
Central Air |
Listing Information
| Address |
5036 W Avenue L8 |
| City |
Lancaster |
| State |
CA |
| Zip |
93536 |
| County |
Los Angeles |
| Listing Agent |
Michael Sterman DRE #01911703 |
| Courtesy Of |
Marcus & Millichap |
| List Price |
$5,200,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
30,464 |
| Lot Size |
50,850 |
| Year Built |
1979 |
Listing information courtesy of: Michael Sterman, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 14th, 2024 at 10:47 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
