3-Unit Multifamily
New
For Sale
$899,000
1860 Harlow Court, Lancaster, CA 93534
Residential Income, Lancaster, CA
Property Size3,749 SF
Lot Size0.32 Acres
Price / SF$239.80
Days on Market3
Property Features for 1860 Harlow Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Lrra6000
Bedrooms
8
Rooms
Bedroom 8, Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 7, Bedroom 3
Directions
Head south on 20th st W , turn heading east on Arbuckle Way,left on Keaton Way, Right on Canutt Pl , left on Harlow Court.
Subdivision
03 - Lancaster West
Standard status
Active
APN
3119-028-072
Size
3,749 SF
Lot size
0.32 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
recessed lighting
laundry room
new paint
crown molding
custom closets
loft
decking/patio
central heat and air
garages
carports
RV parking
Building Details
Year built
2000
Number of units
3
Building materials
Stucco, Wood Siding
Roof type
Composition
Listing Agency:
First Alliance Mortgage Corp
(818) 968-5361
Listed By:
Frank Ilderem · License #01219638
(818) 968-5361
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 29 at 12:06AM
MLS# 26006745
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 multifamily property includes three residential structures on a 0.32-acre parcel, with 3,749 square feet of property size. The improvements were built in 2000 and feature stucco and wood siding, composition roofing, central heating, and central air. On-site amenities include finished garages with direct access, carports, and RV parking. The front and middle houses have tenants who have remained for more than a decade. Interior features include recessed lighting, laundry rooms, fresh paint, crown molding, custom closets, and a loft in the front house. The front house also includes an oversized custom deck and patio, while the rear property has a new remodel; the other two units have older remodels. The property is zoned Lrra6000 and located in Lancaster, California.
Key Highlights
- Three properties on a 0.32‑acre lot
- 3,749 square feet of property size; built in 2000
- Finished garages with direct access, carports, and RV parking
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
$56,118
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
6.24%
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%
$1,122,360
$1.1M
Cap Rate 7%
$801,686
$801.7K
Cap Rate 9%
$623,533
$623.5K
Market Conditions
NOI Build-Up for 3,749 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
$108.0K $28.80/SF
− Vacancy
−$5.9K −$1.58/SF
EGI
$102.0K $27.22/SF
− OpEx
−$45.9K −$12.25/SF
NOI
$56.1K $14.97/SF
Area
Lancaster, CA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,122,360
Cap Rate 7%
$801,686
Cap Rate 9%
$623,533
Alternative Uses
Best Use
Apartment 5plus
$801.7K
$701.5K – $935.3K
NOI $56,118 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,432 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
297
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?
Multifamily property - Three residential units share a parcel with garages, carports, RV parking, and central heating and air conditioning.
Where is this multifamily property located?
The property is located at 1860 Harlow Court Lancaster, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three properties on a 0.32‑acre lot; 3,749 square feet of property size; built in 2000; Finished garages with direct access, carports, and RV parking
