Quadplex with Long-Term
For Sale
$1,090,000
1011 Ave H-12, Lancaster, CA 93534
Four-unit residential income property with central air and established occupancy history in Lancaster.
Property Size3,940 SF
Price / SF$276.65
Days on Market118
Property Features for 1011 Ave H-12
General Information
Standard status
Active
Size
3,940 SF
Property subtype
Multi-Family
Zoning
LRR3*
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$89,736
Amenities
Central Air
Central
Shingle
Stucco, See Remarks
Building Details
Year Built
1981
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(661) 916-4450
Listed By:
Charly Daoud · License #02023368
(661) 916-4450
Source:
Compass
Added: May 4
Changed: Aug 29
Last Checked: Aug 29 at 7:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty of Greater Los Angeles, Inc.
Investment Insights
Based on property information with market context.
Built in 1981, this 3,940-square-foot quadplex contains four residential units, each configured with two bedrooms and one bathroom. The property includes central air and central heating, with stucco and shingle exterior finishes. Three units have had the same long-term tenants for more than 10 years, providing an established occupancy history.
The property is located at 1011 Ave H-12 in Lancaster, California, with access to shopping, schools, employment centers, and major commuter routes. Its four-unit configuration and existing tenant history provide a defined multifamily format for an owner or investor evaluating a residential income property.
The property is located at 1011 Ave H-12 in Lancaster, California, with access to shopping, schools, employment centers, and major commuter routes. Its four-unit configuration and existing tenant history provide a defined multifamily format for an owner or investor evaluating a residential income property.
Key Highlights
- Four‑unit multifamily property with four 2‑bedroom, 1‑bath units
- 3,940 square feet across the quadplex
- Three units occupied by long‑term tenants for over 10 years
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
$65,874
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
6.04%
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%
$1,317,480
$1.3M
Cap Rate 7%
$941,057
$941.1K
Cap Rate 9%
$731,933
$731.9K
Market Conditions
NOI Build-Up for 3,940 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
$99.3K $25.20/SF
− Vacancy
−$5.2K −$1.32/SF
EGI
$94.1K $23.88/SF
− OpEx
−$28.2K −$7.17/SF
NOI
$65.9K $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%
$1,317,480
Cap Rate 7%
$941,057
Cap Rate 9%
$731,933
Alternative Uses
Best Use
Multifamily LT 5
$941.1K
$823.4K – $1.10M
NOI $65,874 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$842.5K
$737.2K – $983.0K
NOI $58,977 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,632 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
266
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-unit residential income property with central air and established occupancy history in Lancaster.
Where is this quadplex located?
The property is located at 1011 Ave H-12 Lancaster, CA.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Four‑unit multifamily property with four 2‑bedroom, 1‑bath units; 3,940 square feet across the quadplex; Three units occupied by long‑term tenants for over 10 years
