Quadplex With Detached
For Sale
$639,000
45110 Elm Avenue, Lancaster, CA 93534
Residential Income, Lancaster, CA
Property Size1,697 SF
Lot Size0.20 Acres
Price / SF$376.55
Days on Market43
Property Features for 45110 Elm Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LRR2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 2
Directions
10th to Jackman and Elm
Subdivision
03 - Lancaster West
Standard status
Active
APN
3134-001-011
Size
1,697 SF
Lot size
0.20 Acres
Building Details
Year built
1949
Number of units
4
Building materials
Frame, Stucco
Roof type
Composition
Listing Agency:
LPT Realty
(866) 366-2213
Listed By:
George Kpachavi · License #01839703
(310) 525-0528
Added: Jul 28
Changed: Sep 7
Last Checked: Sep 8 at 6:06AM
MLS# 26005830
Copyright © 2026 Greater Antelope Valley Association of Realtors. 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 four-unit multifamily property includes a 2-bedroom, 1-bath front residence, an attached studio with a private entrance, and two additional studios with private bathrooms. The front home is vacant and has been upgraded. Gas and electric service are separately metered for each residence. The property contains 1,697 square feet on a 0.2-acre lot and was built in 1949 with frame and stucco construction and a composition roof.
Parking includes two covered spaces accessed from the alley, along with a detached two-car garage equipped with individual single doors. Zoned LRR2, the property is located at 45110 Elm Avenue in Lancaster, California, within Los Angeles County.
Parking includes two covered spaces accessed from the alley, along with a detached two-car garage equipped with individual single doors. Zoned LRR2, the property is located at 45110 Elm Avenue in Lancaster, California, within Los Angeles County.
Key Highlights
- Four‑unit layout with a 2‑bedroom, 1‑bath front residence and three studios
- Front residence is vacant and upgraded, with a separate entrance to the attached studio
- Each unit has separately metered gas and electric service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,372
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,440
$567.4K
Cap Rate 7%
$405,314
$405.3K
Cap Rate 9%
$315,244
$315.2K
Market Conditions
NOI Build-Up for 1,697 SF
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.
Gross rent
$42.8K $25.20/SF
− Vacancy
−$2.2K −$1.32/SF
EGI
$40.5K $23.88/SF
− OpEx
−$12.2K −$7.17/SF
NOI
$28.4K $16.72/SF
Area
Lancaster, CA
Vacancy
5.22%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,440
Cap Rate 7%
$405,314
Cap Rate 9%
$315,244
Alternative Uses
Best Use
Multifamily LT 5
$405.3K
$354.7K – $472.9K
NOI $28,372 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$362.9K
$317.5K – $423.4K
NOI $25,402 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$533.0K
$466.4K – $621.9K
NOI $37,313 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,817
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?
Quadplex - Four separately metered residences with covered parking and an additional detached garage in Lancaster.
Where is this quadplex located?
The property is located at 45110 Elm Avenue Lancaster, CA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Four‑unit layout with a 2‑bedroom, 1‑bath front residence and three studios; Front residence is vacant and upgraded, with a separate entrance to the attached studio; Each unit has separately metered gas and electric service
