5036 Avenue L8 Lancaster, CA 93536

Cluster Residence

56 Beds

56 Baths

30,464 Sq. Ft.

1.17 Acre Lot

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Last updated on 9/27/2024 8:20 AM

Listing Details

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-bathro...om 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. Continue reading

MLS#

24436295

Property Type

Cluster

Status

Bedrooms

Bathrooms

Year Built

1979

Square Feet

30,464 sq. ft

Lot Size