4840 W Avenue L8
Lancaster, CA 93536
4840 W Avenue L-8 · Multifamily Property For Sale · 34 Units

Arthur Arejian as exclusive listing agent, is pleased to present an opportunity to purchase a 34 Unit Apartment Building located at 4840 W Ave L8, in the City of Quartz Hill, California, 93536. This property consists of large units with an excellent unit mix of 24 two-bedroom-two bathroom units and 10 one-bedroom one-bathroom units. THE PROPERTY The property is a 2-story building with a total of 58 parking spaces, one for every bedroom. 4840 W Ave L8 is a very charming apartment building situated in the prime Quartz Hill submarket of Antelope Valley. Quartz Hill is the Beverly Hills of the Antelope Valley which is known for higher rents and low vacancy. With the new government contracts that Northrop Grumman has received, rental rates are on the rise in the Palmdale / Lancaster Area. Built in 1985, this non rent control building is a well maintained 34 Unit, 2-story building with a sparkling swimming pool, 2 coin operated laundry rooms, and 58 covered and gated parking spaces. This property features an excellent unit mix of 24 spacious two-bedroom two-bathroom Units and 10 one-bedroom one-bathroom Units. The property is Quartz Hill, one of the most desirable locations in all of the Antelope Valley. The rents are high and rising, the vacancy rate is low, and properties are appreciating in value at a very high rate. Quartz Hill also has the top schools in the Antelope Valley. Quartz Hill is known for very low vacancy rates and high rents, which is why it is rare to see a property in Quartz Hill for sale at all, let alone at a 7% Market CAP. There is almost zero deferred maintenance on this property. The landscaping is very easy to maintain, and the cost is minimal. It has been owner operated for over 20 years. Quartz Hill is the Beverly Hills of the Antelope Valley which is known for higher rents and low vacancy. With the new government contracts that Northrop Grumman has received, rental rates are on the rise in the Palmdale / Lancaster area. As a result, the subject property will appeal to any investor looking for a stable, well located property with an excellent unit mix, rental upside and future appreciation. Also located in the award winning Westside School district which includes Quartz Hill High School, Joe Walker Middle School, and Valley View Elementary School.