Lancaster Multifamily Investment
For Sale
$1,375,000
44751 Fern Ave, Lancaster, CA 93534
MULTI_FAMILY - Lancaster, CA
Property Size5,050 SF
Lot Size0.28 Acres
Price / SF$272.28
Days on Market67
Property Features for 44751 Fern Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LRR2*
Bedrooms
11
Bathrooms
7
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 11, Bathroom 3, Bedroom 10, Bathroom 6, Bathroom 2, Bedroom 7, Bathroom 7, Bedroom 6, Bathroom 4, Bathroom 5, Bedroom 9, Bathroom 1, Bedroom 1, Bedroom 8
Parking
12
Parking features
Covered, Carport, Garage
Directions
Located near the corner of Fern Ave and W Milling St, just south of Lancaster Blvd
Subdivision
Lancaster
Standard status
Active
APN
3133-011-033
Size
5,050 SF
Lot size
0.28 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
central A/C and heating
Building Details
Year built
1983
Floors in Building
2
Number of units
7
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Shant Sherbetdjian · License #01713570
(626) 657-8150
Added: May 26
Changed: Jul 28
Last Checked: Jul 31 at 1:06PM
MLS# 26838667
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained 7-unit multifamily property, constructed in 1983, is located in a desirable rental corridor of Lancaster. The property offers a stable, turnkey investment opportunity. The unit mix includes four 2-bedroom/1-bath units and three 1-bedroom/1-bath units. All units have central A/C and heating. Parking includes 5 garages, 6 carport spaces, and 1 uncovered parking space. Situated one block from Lancaster's Cultural District, residents have access to dining, entertainment, nightlife, shopping, and community events along Lancaster Boulevard. The property is located in an established and walkable neighborhood. The lot size is 0.2823 acres, and the property size is 5050 square feet. The zoning is LRR2*.
Key Highlights
- 7‑unit multifamily property built in 1983
- Unit mix: four 2 bed/1 bath units and three 1 bed/1 bath units
- All units feature central heating and central A/C
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.4k | $28.80 |
| − Vacancy | −$8.0k | −$1.58 |
| EGI | $137.4k | $27.22 |
| − OpEx | −$61.8k | −$12.25 |
| NOI | $75.6k | $14.97 |
5,050 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$944.9K – $1.26M
NOI $75,592 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,039 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 93534, CA
43,906
Population
16,343
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
19.0 sq mi
ZIP Area
2,311
Density / Sq Mi
$58,891
Median Household Income
$44,566
Median Earnings
$1,513
Median Rent
$339,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 7-unit multifamily property near Lancaster's Cultural District.
Where is this apartment building located?
The property is located at 44751 Fern Ave Lancaster, CA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 7‑unit multifamily property built in 1983; Unit mix: four 2 bed/1 bath units and three 1 bed/1 bath units; All units feature central heating and central A/C
