8-Unit Apartment
For Sale
$650,000
16039 L Street, Mojave, CA 93501
Residential Income, Mojave, CA
Property Size3,863 SF
Lot Size0.35 Acres
Price / SF$168.26
Days on Market143
Property Features for 16039 L Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3 Pd H F
Directions
The property is located between Belshaw St and Cerro Gordo St.
Subdivision
17 - Kern Co/Mojave/Cal C
Standard status
Active
APN
236-172-05
Size
3,863 SF
Lot size
0.35 Acres
Utilities
Cooling system
Ductless
Building Details
Year built
1944
Number of units
8
Building materials
Wood Siding, Shingle Siding
Listing Agency:
J&V Real Estate Group Inc.
Listed By:
Virginia Meza · License #01783201
(818) 522-4481
Added: May 18
Changed: Sep 3
Last Checked: Oct 7 at 8:06AM
MLS# 26004021
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 8-unit apartment property contains 3,863 square feet on a 0.35-acre site and was built in 1944. The wood-sided buildings use ductless cooling, and several units have limited shared-wall exposure. Current improvements include a two-bedroom residence at 16039 L Street with interior laundry hookups, a newer roof, and updated kitchen and bathroom finishes. Unit C at 16049 L Street received a full interior renovation in 2025, including remodeled kitchen and bathroom areas and laundry hookups. The residence at 16037 L Street also includes in-unit laundry hookups.
Two units are currently leased. The property is located in Mojave, California, near the Mojave Air & Space Port, Highway 14, public transportation, and local employers. Zoning is R-3 Pd H F, and the property is identified by the address 16039 L Street, Mojave, CA 93501.
Two units are currently leased. The property is located in Mojave, California, near the Mojave Air & Space Port, Highway 14, public transportation, and local employers. Zoning is R-3 Pd H F, and the property is identified by the address 16039 L Street, Mojave, CA 93501.
Key Highlights
- 8 residential units across 3,863 square feet
- 0.35‑acre property built in 1944
- R‑3 Pd H F zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,502
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$890,040
$890.0K
Cap Rate 7%
$635,743
$635.7K
Cap Rate 9%
$494,467
$494.5K
Market Conditions
NOI Build-Up for 3,863 SF
Gross rent
$83.4K $21.60/SF
− Vacancy
−$2.5K −$0.65/SF
EGI
$80.9K $20.95/SF
− OpEx
−$36.4K −$9.43/SF
NOI
$44.5K $11.52/SF
Area
Kern County, CA
Vacancy
3.03%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$890,040
Cap Rate 7%
$635,743
Cap Rate 9%
$494,467
Alternative Uses
Best Use
Apartment 5plus
$635.7K
$556.3K – $741.7K
NOI $44,502 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$825.2K
$722.1K – $962.8K
NOI $57,767 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 93501, CA
5,772
Population
2,416
Households
2.4
Avg Household Size
35
Median Age
7%
College-Educated
74%
High-School Grad
222.0 sq mi
ZIP Area
26
Density / Sq Mi
$55,372
Median Household Income
$37,500
Median Earnings
$1,175
Median Rent
$183,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Wood-sided multifamily property with ductless cooling and several units designed with limited shared walls.
Where is this apartment building located?
The property is located at 16039 L Street Mojave, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 8 residential units across 3,863 square feet; 0.35‑acre property built in 1944; R‑3 Pd H F zoning
