5036 W Avenue L8, Lancaster, CA 93536
- $5,200,000
- 56
- BD
- 56
- BA
- 30,464
- SqFt
- List Price
- $5,200,000
- MLS#
- 24-436295
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 56
- Bathrooms
- 56
- Living Area
- 30,464
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.
Additional Information
- Year Built
- 1979
- Garage
- Gated
Mortgage Calculator
Courtesy of Marcus & Millichap, Michael Sterman.
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