1023 W Avenue H2, Lancaster, California 93534 home-pic-0

ACTIVE$439,000$1,420/sqft

Est. Value: $417,112

-4%

AboveEstimate

1023 W Avenue H2, Lancaster, California 93534

4Beds

2Baths

1,420Sqft

6,389Lot

Price Vs. Estimate

The estimated value ($417,111.97) is $21,888.03 (4%) lower than the list price ($439,000). This property may be overpriced.

Key pros and cons

Top Pros:

Strong Investment Opportunity: The property boasts a nearly 10% CAP rate and is currently tenant-occupied, generating $4750 per month, offering immediate income for investors.

Top Cons:

Tenant Occupancy Constraints: While beneficial for investors, current tenant occupancy may present challenges for showings and possession timelines for owner-occupant buyers.

Compared to the nearby listings

Price:$439.0K vs avg $425.0K (+$14,000)57%

Size:1,420 sqft vs avg 1,420 sqft50%

Price/sqft:$309 vs avg $30258%

More Insights

Built in 1957 (69 years old).

Condition: Built in 1957, this property has undergone significant recent renovations, including a newer roof, dual-pane windows, luxury vinyl plank flooring throughout, and a modern kitchen with updated cabinetry, quartz countertops, stainless steel appliances, and LED lighting. Both bathrooms are also updated. While these extensive cosmetic and functional updates make the home move-in ready and align with a 'Good' condition, the visible swamp cooler on the roof and the lack of explicit updates for major underlying systems like plumbing and electrical (due to its 1957 build year) prevent it from reaching an 'Excellent' rating.

Year Built

1957

List price

$439K

Original List price

$435K

Price/Sqft

$309

HOA

Days on market

Sold On

MLS number

SR25084130

Home ConditionGood

Features

View-

About this home

**LOOKING FOR AN INVESTMENT OPPORTUNITY WITH CAP RATE AT NEARLY 10%** The home is currently tenant occupied and is generating $4750 per month. Start generating income as soon as you close escrow. Property is occupied and ready to go. Pictures don't lie and neither does rent. Special financing might be available depending on your situation. This beautifully updated single-story home in West Lancaster offers 4 bedrooms, 2 updated bathrooms, and a spacious entertainer's backyard perfect for gatherings. Recent improvements include a newer roof, dual-pane windows, and sliding glass doors. Inside, you'll find luxury vinyl plank flooring throughout, a modern kitchen with updated cabinetry, sleek quartz countertops, stainless steel appliances, and energy-efficient LED lighting. This home qualifies for special financing with down payment assistance or better rates, see supplements for details. Please be advised that this property is equipped with surveillance equipment that may be recording audio and/or video. By entering these premises, you acknowledge and consent to such recording.

Adam Rosenthal

Listing Agent

Nearby schools

3/10

Desert View Elementary School

Public,•K-6•0.8mi

3/10

Piute Middle School

Public,•6-8•1.5mi

2/10

Antelope Valley High School

Public,•9-12•1.6mi

Condition Rating

Good

Built in 1957, this property has undergone significant recent renovations, including a newer roof, dual-pane windows, luxury vinyl plank flooring throughout, and a modern kitchen with updated cabinetry, quartz countertops, stainless steel appliances, and LED lighting. Both bathrooms are also updated. While these extensive cosmetic and functional updates make the home move-in ready and align with a 'Good' condition, the visible swamp cooler on the roof and the lack of explicit updates for major underlying systems like plumbing and electrical (due to its 1957 build year) prevent it from reaching an 'Excellent' rating.

Pros & Cons

Pros

Strong Investment Opportunity: The property boasts a nearly 10% CAP rate and is currently tenant-occupied, generating $4750 per month, offering immediate income for investors.

Extensive Modern Renovations: Recent improvements include a newer roof, dual-pane windows, luxury vinyl plank flooring, and a fully updated kitchen with quartz countertops, stainless steel appliances, and LED lighting.

Spacious Entertainer's Backyard: The home features a large, well-suited backyard perfect for gatherings and outdoor recreation.

Special Financing Options: The property qualifies for special financing, including down payment assistance or better rates, broadening its appeal to a wider buyer pool.

Turnkey Income Property: With existing tenants in place, the property offers a seamless transition to immediate cash flow for investors upon closing.

Cons