Been on the market for some time, BECAUSE current owner is happy to hold as making over $64,000 a year income. FYI Won't work with a tradition loan, as lenders probably won't appraise at value, as it is only a 2 unit property. Owner is selling for $625,000 on fact that this is over $64,000 a year income a 10% gross income property, and there is nothing out there in the market like this. This is a DIAMOND. If you depend on a loan, 80% to 90% it won't work, so this property is not for you. If you can put down like 50% cash, then can work or if a 100% cash buyer then of course. Again, if you want to make a good return on your cash then this property is for you. Also Upside to convert Garage to 2 br unit, we got approved plans, and also add a 4th unit, so lots of upside for the next investor, my seller just wants his price to make it worth wild to sell. Just being honest here.
MLS# | 22201689 |
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Listing Type | For Sale |
Sub-Type | Resale |
Status | Active |
Year | 1928 |
Days On Site | 868 |
Listing Provided By | EGL Properties Incorporated 310-481-0922 | Jason Hurst |
Bed(s) | 5 |
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Bath(s) | 2 |
SQ Feet | 1,800 |
Story(s) | 1 |
Units | 2 |
Building(s) | 2 |
Zoning | LRR2* |
Acreage | 0.18 |
State | CA |
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County | Los Angeles |
City | Lancaster |
Zip Code | 93534 |
Area | LAC Lancaster |
Listing VS Median (in 93534) | |
Price: $625,000 low | high Med: $419,999 SqFt: 1,800 low | high Med: 1,394 $ / SqFt: $347 low | high Med: $301 On Site: 868 low | high Med: 29.000000 |