40525 166th E, Lancaster, California 93535, Lancaster, 93535 - 3 bed, 2 bath
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Lancaster, California 93535
This Investment-Grade Residential Asset is listed at $395,000, representing a stable entry point relative to its $358,783 Fair Market Value. Currently holding a Fair Condition Rating, the property offers significant forced appreciation potential through the ADU Conversion Potential of the existing garage and bonus room. The massive 0.67-Acre Lot provides exceptional utility for expansion or equestrian use within the Lancaster School District. Featuring an Upgraded Granite Kitchen and a tenant already in place, this is a high-upside acquisition for Buy-and-Hold Investors or first-time buyers seeking a strategic "house hack" opportunity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40525 166th E Subject | $395,000* List Price | 3 | 2 | 1,264 | $284 | - |
A 40912 168th E Sold | $287,000 | 4 | 2 | 1,300 | $221 | 0.5 mi |
B 41043 Fieldspring Street Sold | $409,900 | 4 | 2 | 1,300 | $315 | 0.8 mi |
C 16173 Newmont Sold | $399,900 | 3 | 2 | 1,402 | $285 | 0.6 mi |
D 40596 Fieldspring Sold | $390,000 | 3 | 2 | 1,240 | $315 | 0.2 mi |
E 40648 Fieldspring Pending | $350,026 List Price | 3 | 2 | 1,025 | $341 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1969, this property shows a mix of updates and dated features. The kitchen has been upgraded with white cabinets, granite countertops, and a stainless steel sink, and one bathroom features modern shower tile. The electrical panel is also upgraded. However, the property is sold 'AS IS, WHERE IS,' and two newer A/C units are present but require connection, indicating incomplete work and potential additional costs. The carpet in the living areas appears worn, and other elements of the home are consistent with its age, preventing it from being classified as 'Good' despite the partial renovations.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 29271, living area = 1264.
The property sits on over half an acre (29,271 sqft), offering significant space for expansion, gardening, or accommodating animals, enhancing its long-term value and versatility.
The garage and bonus room present clear opportunities for conversion into an Accessory Dwelling Unit (ADU) or guesthouse, providing potential rental income or multi-generational living options.
The property is explicitly sold "AS IS, WHERE IS" with no warranties or guarantees, placing the burden of any necessary repairs or unforeseen issues entirely on the buyer.
While two newer A/C units are present, they require connection to the main house and garage, indicating an additional cost and project for the buyer to ensure full climate control.
The seller's comprehensive disclaimer regarding property condition, permits, and square footage necessitates thorough independent verification by the buyer, potentially incurring additional inspection and research costs.
Great opportunity for investors with tenant in place or first-time buyers. This Adorable 3-bedroom 2-bath plus bonus room Lake Los Angeles home sits on more than half an acre of land with so much upside potential. Spacious backyard has definitive opportunities, perfect for building another unit or adding your own unique touches such as a garden or great for horses and animals. The home opens into a large living room, leads to the kitchen with eat-in dining area have been upgraded to white cabinets with granite counter-tops, stainless steel double sink. The garage and the bonus room can be converted to an ADU /guesthouse for additional family members or potential rental property. Two newer A/C units that need to be connected to the main house and the existing garage. Upgraded electrical panel. Stop by today and make this home yours. Will not last! Property to be sold in its current “AS IS, WHERE IS” condition with no warranties, guarantees, repairs, or credits. All information provided is deemed reliable but not guaranteed. Seller, Seller’s Agent, and Seller’s Broker make no representations or warranties regarding square footage, condition, permits, or any other aspects of the property. Buyers and Buyer’s Broker are advised to independently verify all information through licensed professionals to satisfy themselves fully. Seller, Seller’s Agent, and Seller’s Broker shall be held harmless from any and all liabilities, whether stated or implied.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 43% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,264 | 1,605 | 19% |
| Lot Size | 29,271 | 7,088 | 85% |
| Price | $395.0K | $440.0K | 25% |
| Price per sq ft | $312 | $266 | 78% |
| Built year | 1969 | 1988 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 97 | 182 | 17% |
Jan 15, 2026
$395,000
Initial Listing
Feb 7, 2023
$10,000
Public Record
Aug 21, 2020
$260,000
Public Record
Aug 8, 2019
$172,500
Public Record
Feb 9, 2005
$179,000
Public Record
Sep 17, 2004
$165,000
Public Record