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 | $385,000* List Price | 3 | 2 | 1,264 | $287 | - |
A 40648 Fieldspring Sold | $360,026 | 3 | 2 | 1,025 | $351 | 0.3 mi |
B 16173 Newmont Sold | $399,900 | 3 | 2 | 1,402 | $285 | 0.6 mi |
C 40912 168th E Sold | $287,000 | 4 | 2 | 1,300 | $221 | 0.5 mi |
D 41043 Fieldspring Street Sold | $409,900 | 4 | 2 | 1,300 | $315 | 0.8 mi |
E 40954 168th E Active Under Contract | $365,900 List Price | 3 | 2 | 1,296 | $282 | 0.6 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.
Fantastic opportunity for investors, first-time buyers, or anyone looking for space and future potential! This charming, recently remodeled 3-bedroom, 2-bath home with a bonus room sits on over half an acre in the heart of Lake Los Angeles—offering endless possibilities for expansion, additional units, or creating your own private retreat. The property features a massive backyard with room for: A second unit or ADU A garden or orchard Horses, animals, or recreational toys Custom outdoor living spaces Inside, the home opens to a spacious living room that flows into a large kitchen with white cabinetry, granite countertops, stainless steel double sink. The dining area offers a comfortable, bright and inviting area. A bonus room and the converted garage offer excellent potential for an ADU, guest suite, home office, or rental income. (Garage entrance is currently walled off.) Additional upgrades include: Updated electrical panel Swamp cooler Newer 3.5-ton A/C unit (currently connected to the living room only) A separate 5-ton A/C unit is on the property and may be negotiated if the buyer wishes to keep it With such a large lot and flexible layout, this home is perfect for buyers who want space, privacy, and room to grow. Stop by today and make this home yours. Opportunities like this don’t last. Property to be sold in its current “AS IS, WHERE IS” condition.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 46% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,264 | 1,641.5 | 16% |
| Lot Size | 29,271 | 7,081.5 | 85% |
| Price | $385.0K | $445.0K | 17% |
| Price per sq ft | $305 | $264 | 75% |
| Built year | 1969 | 1988 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 154 | 169 | 43% |
Jun 4, 2026
$385,000
$395,000
-3% Price Drop
Initial Listing
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