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20961 83rd Street, California City, CA 93505, California City, 93505 - bed, bath

20961 83rd Street, California City, CA 93505 home-pic-0
ACTIVE$885,000/sqft
20961 83rd Street, California City, CA 93505
0Bed
0Bath
Sqft
12,632Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Investment Potential: The property is explicitly marketed as an 'exceptional investment opportunity' for both seasoned and new investors, offering a lucrative prospect in the multi-family market.
Top Cons:
Age of Building: Constructed in 1986, the property is nearly four decades old, which may necessitate future capital expenditures for system upgrades (e.g., plumbing, electrical, roofing) or general modernization to maintain competitiveness.

Compared to the nearby listings

Price:$885.0K vs avg $780.0K (+$105,000)50%
Size: sqft vs avg 3,044.5 sqft50%
Price/sqft:$0 vs avg $5550%

More Insights

Built in 1986 (40 years old).
Condition: Built in 1986, the property is 38 years old. While appearing clean and maintained, the interior features, particularly the kitchen, show significant signs of being outdated. The kitchen includes dated electric coil range, older white cabinets, laminate countertops, and linoleum/vinyl tile flooring. Other interior areas feature dated laminate wood and ceramic tile flooring, and basic light fixtures. The presence of window AC units suggests a lack of central cooling/heating. The property is functional but requires minor updates to meet current aesthetic and comfort standards, aligning with a 'Fair' condition.
Year Built
1986
Close
-
List price
$885K
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
V1-32055
Home ConditionFair
Features
View-

About this home

Introducing an exceptional investment opportunity at 20961 83rd Street, California City, California! This two-story multi-family apartment building comprises eight units, offering a lucrative investment prospect for discerning buyers. The property features a well-designed layout, with four units consisting of 2 bedrooms and 2 bathrooms, and the remaining four units featuring 1 bedroom and 1 bathroom each. This diverse configuration caters to various tenant preferences, enhancing the property's rental potential. With a focus on easy maintenance, the exterior of the property is designed for efficiency, minimizing upkeep requirements and allowing for seamless property management. This ensures that property owners can enjoy hassle-free ownership and optimize their investment returns. Additionally, the property offers an easy commute to Lancaster, with a range of amenities and employment opportunities - Edwards Air Force Base is located nearby as well. This convenient access enhances the property's appeal to potential tenants and contributes to its long-term viability as an investment. Whether you're a seasoned investor seeking to expand your portfolio or a newcomer looking to enter the real estate market, the property presents an enticing opportunity.

R
Ray Deckert
Listing Agent

Price History

Date
Event
Price
08/07/23
Sold
$830,000
09/09/20
Sold
$440,000
11/28/18
Sold
$295,000
07/15/16
Sold
$295,000
02/20/15
Sold
$200,000
Condition Rating
Fair
Built in 1986, the property is 38 years old. While appearing clean and maintained, the interior features, particularly the kitchen, show significant signs of being outdated. The kitchen includes dated electric coil range, older white cabinets, laminate countertops, and linoleum/vinyl tile flooring. Other interior areas feature dated laminate wood and ceramic tile flooring, and basic light fixtures. The presence of window AC units suggests a lack of central cooling/heating. The property is functional but requires minor updates to meet current aesthetic and comfort standards, aligning with a 'Fair' condition.
Pros & Cons

Pros

Investment Potential: The property is explicitly marketed as an 'exceptional investment opportunity' for both seasoned and new investors, offering a lucrative prospect in the multi-family market.
High Unit Count & Diverse Mix: Comprising eight units (four 2BD/2BA and four 1BD/1BA), the property offers diversified income streams and caters to a broad range of tenant preferences, enhancing rental potential.
Low Maintenance Design: The exterior is designed for efficiency, minimizing upkeep requirements and allowing for seamless property management, which contributes to optimized investment returns.
Strategic Location for Tenants: Its location offers an easy commute to Lancaster, providing access to amenities and employment opportunities, including the nearby Edwards Air Force Base, which is attractive to potential tenants.
No Association Fees: The absence of association fees reduces the overall operating costs for the property owner, contributing to higher net income.

Cons

Age of Building: Constructed in 1986, the property is nearly four decades old, which may necessitate future capital expenditures for system upgrades (e.g., plumbing, electrical, roofing) or general modernization to maintain competitiveness.
Limited Local Amenities/Subdivision: The 'Not Applicable' subdivision name and the general location within California City might imply a lack of immediate, established local amenities or a strong community feel, potentially impacting tenant retention or rental rates compared to properties in more developed areas.
Lack of Specific On-Site Amenities: The property description does not detail specific on-site amenities such as laundry facilities, dedicated parking, or common areas, which could be a competitive disadvantage in attracting and retaining tenants.
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