44817 Redwood, Lancaster, California 93534, Lancaster, 93534 - bed, bath
ACTIVE$729,900$2,800/sqft
44817 Redwood, Lancaster, California 93534
0Bed
0Bath
2,800Sqft
7,484Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Triplex: The property is a triplex, offering diversified rental income streams from three separate units, enhancing its investment appeal.
Top Cons:
Age of Property: Built in 1963, the property is over 60 years old, suggesting potential for aging major systems (e.g., plumbing, electrical, roof, HVAC) that may require significant capital expenditures in the near future.
Compared to the nearby listings
Price:$729.9K vs avg $560.0K (+$169,900)86%
Size:2,800 sqft vs avg 2,051 sqft86%
Price/sqft:$261 vs avg $29043%
More Insights
Built in 1963 (63 years old).
Condition: Built in 1963, this triplex shows its age despite some recent cosmetic updates. While the exterior has new paint and one unit received new interior paint, carpet, and laminate flooring, the kitchen and bathroom styles, even in the updated unit, feature outdated tile countertops, basic cabinetry, and older fixtures. The visible wall-mounted heating and swamp coolers suggest older, less efficient systems. The property is functional and maintained enough to be occupied, but the overall aesthetic is dated, and major systems are likely nearing or past their expected lifespan, indicating a need for future updates and potential repairs beyond minor cosmetic changes.
Year Built
1963
Close
-
List price
$730K
Original List price
$730K
Price/Sqft
$261
HOA
-
Days on market
-
Sold On
-
MLS number
SR26000154
Home ConditionFair
Features
View-
About this home
***TRIPLEX PROPERTY***...Located in West Lancaster. Subject property offers 3 units which consists of 1 unit (3 bedrooms, 1 bathroom),2 unit (2 bedrooms, 1 bathroom), and 3 unit (2 bedrooms, 1 bathroom). Subject property features NEW EXTERIOR PAINT, and a chain link fence for security. Landlord pays for water & trash. All units are currently occupied. Tenants pay for electricity, and gas. The rear unit offers NEW INTERIOR PAINT, NEW CARPET, TILE COUNTERS TOPS in the kitchen, and NEW LAMINATE FLOORING in the kitchen as well. There is also a detached carport for tenants. TENANTS ARE SECTION 8, AND ARE ON A MONTH-MONTH LEASE. SECTION 8 leases will be transferred to the new owner during escrow.
I
Israel Sanchez
Listing Agent
Price History
Date
Event
Price
07/24/17
Sold
$305,000
09/29/10
Sold
$130,000
04/08/05
Sold
$420,000
Condition Rating
Fair
Built in 1963, this triplex shows its age despite some recent cosmetic updates. While the exterior has new paint and one unit received new interior paint, carpet, and laminate flooring, the kitchen and bathroom styles, even in the updated unit, feature outdated tile countertops, basic cabinetry, and older fixtures. The visible wall-mounted heating and swamp coolers suggest older, less efficient systems. The property is functional and maintained enough to be occupied, but the overall aesthetic is dated, and major systems are likely nearing or past their expected lifespan, indicating a need for future updates and potential repairs beyond minor cosmetic changes.
Pros & Cons
Pros
Income-Generating Triplex: The property is a triplex, offering diversified rental income streams from three separate units, enhancing its investment appeal.
Fully Occupied with Section 8 Tenants: All units are currently occupied by Section 8 tenants on month-to-month leases, providing stable and reliable rental income with government backing.
Tenant-Paid Utilities: Tenants are responsible for electricity and gas, which significantly reduces the landlord's operating expenses and improves net cash flow.
Recent Exterior & Interior Updates: The property benefits from new exterior paint, and the rear unit has received recent interior updates including new paint, carpet, tile countertops, and laminate flooring, reducing immediate capital expenditure in these areas.
Practical Amenities: A detached carport provides convenient parking for tenants, and a chain-link fence enhances property security.
Cons
Age of Property: Built in 1963, the property is over 60 years old, suggesting potential for aging major systems (e.g., plumbing, electrical, roof, HVAC) that may require significant capital expenditures in the near future.
Landlord-Paid Utilities: The landlord is responsible for water and trash expenses, which increases operating costs and reduces the overall net operating income for the owner.
Partial Interior Updates & Lease Structure: Only one unit has received recent interior updates, implying the other two units may require substantial renovation. Coupled with month-to-month leases, this could lead to higher tenant turnover and immediate renovation costs for the new owner.