5036 W Avenue L8

Lancaster, CA 93536

$5,200,000

Listed Price
56

bed Beds

56

shower Baths

30,464 sqft

straighten / sqft

1979

calendar_month Built

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
MLS 24436295
List Price $5,200,000
Status Active
Type Residential Income
Structure Size 30,464
Lot Size 50,850
Year Built 1979
DOM 8

Exterior Information

Maps

Listing information courtesy of: Michael Sterman, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 13th, 2024 at 12:16 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.