
Lancaster, California 93534
This duplex represents a Strong Value Opportunity, listed at $549,990—positioned well below the $584,366 Fair Market Value by 5%. This valuation gap offers $34,376 in Instant Equity. Featuring a Condition Rating of 2, the property includes a fully renovated unit with Granite Kitchen finishes and a stable long-term tenant in the second unit. With a massive 10,454 sqft lot and ADU Conversion Potential, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking immediate cash flow and long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 44636 Cedar Avenue Subject | $549,990* List Price | 5 | 3 | 2,420 | $241 | - |
A 44632 Fern Avenue Active | $550,000 List Price | 5 | 3 | 2,163 | $254 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1919, the property has undergone a comprehensive renovation within the last 5 years. Improvements include a new roof, new windows, and a complete interior overhaul of the primary unit with granite countertops, new cabinetry, and modern flooring. The exterior and systems like the rebuilt garage indicate a high level of maintenance and move-in readiness.
Unit 44636 is fully renovated with a new roof, windows, granite countertops, and updated flooring, allowing for immediate market-rate rental income or owner-occupancy without initial capital expenditure.
The property features a generous 10,454 sqft lot and detached garages, providing a significant value-add opportunity to convert existing structures into Accessory Dwelling Units (ADUs) for increased yield.
The duplex configuration with one unit already occupied by a long-term tenant offers stable cash flow from day one, while the vacant renovated unit provides flexibility for house-hacking or strategic leasing.
Originally built in 1919, the property may have underlying maintenance requirements or aging systems typical of historic structures that were not addressed in the recent cosmetic renovations.
Unit 44640 is occupied by a long-term tenant on a month-to-month basis, which may necessitate a formal rent alignment process or relocation strategy to maximize the property's total gross potential income.
Exceptional investment opportunity in the heart of Lancaster! 44636-44640 Cedar Ave is a well-maintained duplex offering immediate income potential, strong rental demand, and future value-add opportunities. With two separate units on one lot, this property is ideal for investors looking to expand their portfolio or owner-occupants seeking to offset their mortgage with rental income. Unit 44636 is a fully renovated 2-bedroom, 1-bathroom residence offering approximately 908 sqft of living space, garage is 486 sqft. Recent improvements include a new roof, new windows, new carpet and flooring throughout, updated lighting fixtures, granite countertops, new cabinetry, and a completely rebuilt garage. Currently vacant, this move-in-ready unit presents an excellent opportunity to secure a tenant at current market rents or occupy the unit yourself. Unit 44640 features 3 bedrooms, 2 bathroom, and approximately 1,512 sqft of living space, garage is 726 sqft. The unit is currently leased to a long-term tenant on a month-to-month basis, generating providing stable and consistent rental income from day one. Further enchanting the property's appeal are the detached garages, which may offer potential for ADU (Accessory Dwelling Unit) conversion. Whether you're seeking dependable cash flow, an owner-occupant opportunity, or a property with long-term upside, this versatile duplex combines recent upgrades, existing rental income, and future development potential in a desirable Lancaster location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 9.0 |
| Baths | 3.0 | 5.0 |
| Square foot | 2,420 | 2,756.5 |
| Lot Size | 10,454 | 209,921 |
| Price | $550.0K | $532.2K |
| Price per sq ft | $227 | $225 |
| Built year | 1919 | 1957 |
| HOA | $0 | $0 |
| Days on market | 27 | 127 |
Aug 13, 2026
$549,990
Initial Listing
Jul 16, 2010
$135,000
Public Record
Sep 21, 2009
$96,000
Public Record
Oct 18, 2006
$439,000
Public Record
Dec 3, 2004
$340,000
Public Record
Jan 30, 2003
$175,000
Public Record