947 W Oldfield Street, Lancaster, California 93534, Lancaster, 93534 - 3 bed, 2 bath
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Lancaster, California 93534
This property presents a Strong Value Opportunity with a List Price of $367,900—positioned well below the $390,461 Fair Market Value by 5%. This valuation gap offers $22,561 in Instant Equity. Featuring a Fair Condition Rating, this Dual-Asset Investment includes a 3br/2ba residence and a rehabbed commercial building on a large 9,019 sqft lot. With a reliable tenant in place, this asset provides immediate cash flow and strategic downtown utility. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a mixed-use income stream.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 947 W Oldfield Street Subject | $367,900* List Price | 3 | 2 | 1,280 | $305 | - |
A 44209 Date Sold | $350,000 | 3 | 2 | 1,246 | $281 | 0.2 mi |
B 45021 11th W Sold | $410,000 | 3 | 2 | 1,390 | $295 | 0.7 mi |
C 44554 15th W Sold | $399,950 | 3 | 2 | 1,312 | $305 | 0.5 mi |
D 1354 W Jenner Sold | $355,500 | 3 | 1 | 1,104 | $322 | 0.2 mi |
E 1365 Jenner Street Sold | $395,000 | 3 | 2 | 1,310 | $302 | 0.7 mi |
F 45011 Lorimer Avenue Active | $465,000 List Price | 3 | 2 | 1,301 | $357 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1947 (77 years old), which far exceeds the age threshold for newer categories. While the listing describes the home as 'very nice' and occupied by a tenant, there is no mention of recent major renovations to the kitchen, baths, or systems of the residential structure (only the adjacent commercial building is noted as rehabbed). Given the age and exterior appearance, it is classified as 'Fair'—likely functional and well-maintained but dated and requiring modern updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9019, living area = 1280.
This unique package includes both a 3-bedroom residential home and a rehabbed commercial building, offering a rare live/work opportunity or a diversified income stream for investors.
The residential property features a reliable tenant already in place, providing the new owner with immediate rental income from the day of closing.
The requirement to purchase both the residential and commercial properties together due to the shared parking lot limits the buyer pool to those specifically seeking mixed-use assets.
Built in 1947, the residential structure may require more frequent maintenance or future capital improvements compared to newer developments in the area.
Single story 3br2ba SFR located close to downtown. Very nice SFR that has a great tenant in place. This property must be sold with the adjacent commercial building located at 44504 10th St W. The building is currently vacant and rehabbed. Because of how the parking lot is situated, these two properties must be sold together. This is the perfect oppurtunity for an owner user to collect income as well.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,280 | 1,396 | 37% |
| Lot Size | 9,019 | 6,999.5 | 84% |
| Price | $367.9K | $410.0K | 27% |
| Price per sq ft | $287 | $290 | 49% |
| Built year | 1947 | 1957 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 29 | 144 | 2% |
Jun 2, 2026
$367,900
$769,900
-52% Price Drop
Initial Listing
May 8, 2026
$769,900
Initial Listing
May 24, 2000
$225,000
Public Record