150 E Lancaster Boulevard

    Lancaster, CA 93535
    • $1,625,000
    • STATUS: Active Under Contract
    • ON SITE: 96 days
    • ID#: SR18213498
    Under Contract
    UPDATED: 30 min ago
    $1,625,000
    • 0
      BEDS
    • 0.51
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,230
      SQFT
    • $176
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    Price reduced by $100,000. Actual gross income of $169,440 and 7.03% CAP. This offering encompasses two contiguous parcels of 150 and 160 East Lancaster consisting of five 2 bedrooms/ 1 bath and nine 1 bedrooms/ 1 bath apartments. Magnificent opportunity to own an investment property with great income and no rent control in Lancaster, California. Premier location in City; adjacent to Highway 14, the main freeway connecting the greater Los Angeles area to the Antelope Valley. The Lancaster/Palmdale area is a growing, business-friendly region, and home to several large corporations such asLockheed Martin, Northrop Grumman, Space X, Boeing, General Dynamics, and NASA. Northrop Grumman is in process of increasing its operations in the area, and rental rates have increased significantly to accommodate the increased demand.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-10T07:26:46.967. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/87161362

    150 E Lancaster Boulevard Lancaster, CA 93535

    • Price: $1,625,000
    • Status: Active Under Contract
    • Updated: 30 min ago
    • ID#: SR18213498
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.51
    Acres
    9,230
    SQFT
    $176
    $/SQFT
    1957
    Built
    Neighborhood:
    LAC - Lancaster
    County:
    Los Angeles
    Area:
    LAC - Lancaster
    Property Description
    Price reduced by $100,000. Actual gross income of $169,440 and 7.03% CAP. This offering encompasses two contiguous parcels of 150 and 160 East Lancaster consisting of five 2 bedrooms/ 1 bath and nine 1 bedrooms/ 1 bath apartments. Magnificent opportunity to own an investment property with great income and no rent control in Lancaster, California. Premier location in City; adjacent to Highway 14, the main freeway connecting the greater Los Angeles area to the Antelope Valley. The Lancaster/Palmdale area is a growing, business-friendly region, and home to several large corporations such asLockheed Martin, Northrop Grumman, Space X, Boeing, General Dynamics, and NASA. Northrop Grumman is in process of increasing its operations in the area, and rental rates have increased significantly to accommodate the increased demand.
    Exterior Features

    Carport Spaces 14.00 Garage Spaces 0.00 Lot Features Corner Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Total 14.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features AreaCommunity Levels One

    Property Features

    Additional Parcels Description 3142007018 Additional Parcels YN Yes Building Area Units Square Feet Cap Rate 7.03 Community Features SidewalksStreet Lighting Country Us Electric Expense 1471.00 Elevation Units Feet Fuel Expense 408.00 Gardener Expense 1800.00 Gross Income 169440.00 Gross Multiplier 9.59 Gross Scheduled Income 169440.00 Insurance Expense 5588.00 Land Lease YN No Laundry Income 1800.00 Laundry YN Yes Maintenance Expense 4200.00 Net Operating Income 114206.00 New Construction YN No New Taxes Expense 20312.00 Number Of Separate Electric Meters 16 Number Of Separate Gas Meters 16 Number Of Separate Water Meters 1 Operating Expense 52061.00 Other Expense 2000.00 Other Expense Description Reserves Other Income1 9000.00 Pest Control Expense 840.00 Professional Management Expense 5029.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 52061.00 Trash Expense 5084.00 Vacancy Allowance 3172 Vacancy Allowance Rate 2.00 Water Sewer Expense 2174.00 Water Source Public Year Built Source Assessor Zoning Lrr3-R165oo*

    Listing provided courtesy of Anie Mayelian of Keller Williams Encino-Sherman.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-10T07:26:46.967. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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