
Lancaster, California 93534
This Triplex Residential Income property is a Strong Value Opportunity, listed at $639,000—positioned well above the $604,535 Fair Market Value by 5%. While priced at a premium, the asset features a Condition Rating of 4, offering a turnkey front unit with significant rental upside. With separate utility metering and a detached two-car garage, this property provides operational efficiency for Buy-and-Hold Investors. It is an ideal acquisition for Owner-Occupants seeking to offset mortgage costs through diversified studio rental income in a stable market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 45110 Elm Subject | $624,000* List Price | 0 | 0 | 1,697 | $354 | - |
A 45414 Corkwood Avenue Sold | $514,000 | 0 | 0 | 1,613 | $319 | 0.5 mi |
B 45348 10th W Active | $599,900 List Price | 0 | 0 | 1,731 | $347 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1949, the property shows inconsistent renovation levels. While the front unit features a recently updated kitchen with modern shaker cabinets and new flooring (<5 years), the bathrooms remain significantly dated with mid-century fixtures and visible wear. The exterior and other units appear functional but dated, requiring further updates to systems and baths to reach a higher classification.
The property features a vacant, upgraded 2-bedroom front unit ideal for an owner-occupant or market-rate rental, complemented by three additional studios that provide diversified income streams.
Separate metering for gas and electricity simplifies management and reduces landlord overhead, while the detached two-car garage and large lot offer significant potential for storage income or ADU conversion.
Demonstrating pride of ownership, this well-maintained asset includes an upgraded primary residence and well-proportioned units, minimizing immediate capital expenditure for a new investor.
Originally constructed in 1949, the property may require more frequent maintenance or future updates to aging systems compared to modern multifamily developments.
The property is served by schools with lower academic ratings, specifically a 2/10 for the local high school, which may impact the appeal for long-term family tenants.
This thoughtfully designed and well-maintained four unit property offers exceptional versatility and strong income potential. The front unit is a spacious, upgraded vacant 2 bedroom, 1 bath residence that lives like a single-family home perfect for owner occupancy or commanding top market rent. Attached to the front is a private studio with its own separate entrance, providing added rental flexibility. The property also features 2 more studios well proportioned with own private bath, appealing to a broad tenant base. Each unit is separately metered for gas and electric, ensuring efficient operations and ease of management. Tenants benefit from two covered alley-access parking spaces, while a detached two-car garage with individual single doors offers additional parking, storage, or potential value-add opportunities. Pride of ownership throughout, this property is ideally suited for investors seeking strong and reliable cash flow, long-term appreciation, and a high quality multifamily asset in a solid rental market.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 1.6 mi
Grades 6-8 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 9.0 |
| Baths | 0.0 | 5.0 |
| Square foot | 1,697 | 2,756.5 |
| Lot Size | 8,851 | 209,921 |
| Price | $624.0K | $532.2K |
| Price per sq ft | $368 | $225 |
| Built year | 1949 | 1957 |
| HOA | $0 | $0 |
| Days on market | 47 | 127 |
Aug 25, 2026
$624,000
$639,000
-2% Price Drop
Initial Listing
Jul 24, 2026
$639,000
Initial Listing
Jul 22, 2025
$560,000
Public Record
Apr 19, 2023
$519,000
Public Record
Dec 28, 2000
$110,000
Public Record