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40525 166th E, Lancaster, California 93535, Lancaster, 93535 - 3 bed, 2 bath

40525 166th E, Lancaster, California 93535 home-pic-0
ACTIVE$395,000$1,264/sqft
Est. Value: $367,378
-6%
AboveEstimate
40525 166th E, Lancaster, California 93535
3Beds
2Baths
1,264Sqft
29,271Lot

Price Vs. Estimate

The estimated value ($367,378.435) is $27,621.565 (6%) lower than the list price ($395,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: 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.
Top Cons:
"As-Is" Sale Condition: 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.

Compared to the nearby listings

Price:$395.0K vs avg $440.0K ($-45,000)24%
Size:1,264 sqft vs avg 1,592 sqft18%
Price/sqft:$312 vs avg $26878%

More Insights

Built in 1969 (57 years old).
Condition: 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.
Year Built
1969
Close
-
List price
$395K
Original List price
$395K
Price/Sqft
$313
HOA
-
Days on market
-
Sold On
-
MLS number
SR26010910
Home ConditionFair
Features
View-

About this home

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.

M
Moe Mirmehdi
Listing Agent

Price History

Date
Event
Price
02/07/23
Sold
$10,000
08/21/20
Sold
$260,000
08/08/19
Sold
$172,500
02/09/05
Sold
$179,000
09/17/04
Sold
$165,000
Condition Rating
Fair
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.
Pros & Cons

Pros

High Available Lot Utilization: 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.
Expansive Lot & Development Potential: 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.
ADU Conversion Ready: 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.
Investment & First-Time Buyer Appeal: Positioned as an attractive option for both investors, with a tenant already in place, and first-time buyers seeking a property with growth potential.
Modernized Kitchen: The kitchen features upgraded white cabinets, granite countertops, and a stainless steel double sink, offering a contemporary and functional cooking space.
Electrical System Upgrade: An upgraded electrical panel provides enhanced safety and capacity, reducing immediate maintenance concerns in this critical area.

Cons

"As-Is" Sale Condition: 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.
Incomplete A/C Installation: 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.
Extensive Buyer Due Diligence Required: 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.
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