Two-Unit Townhome-Style
For Sale
$789,000
201 W Kettering Street, Lancaster, CA 93534
Residential Income, Lancaster, CA
Property Size2,240 SF
Lot Size0.13 Acres
Price / SF$352.23
Days on Market32
Property Features for 201 W Kettering Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LRR2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 8, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 7, Bathroom 4, Bedroom 1, Bedroom 4
Directions
Take Lancaster Blvd East to Division and make a Left then left on Kettering.
Subdivision
03 - Lancaster West
Standard status
Active
APN
3138-008-008
Size
2,240 SF
Lot size
0.13 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2006
Number of units
2
Building materials
Stucco
Roof type
Tile
Listing Agency:
Preferred Real Estate and Investments Inc.
(661) 949-2477
Listed By:
Samer Theodory · License #01501831
(714) 920-0773
Added: Sep 1
Changed: Oct 1
Last Checked: Oct 2 at 1:06AM
MLS# 26007378
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.
Built in 2006, this duplex contains two separate two-story townhome-style residences totaling 2,240 square feet. Each unit offers 4 bedrooms and 2 bathrooms, along with an open-concept interior, updated kitchen cabinetry, stone countertops, and laminate wood flooring. Private front and rear outdoor areas extend the usable space, while each residence has an attached 2-car garage with direct entry into the home.
The property occupies 0.13 acres at 201 W Kettering Street in Lancaster, California, and carries LRR2 zoning. Stucco construction, tile roofing, central heating, and central air conditioning are included. With four total garage spaces and two similarly configured residences, the property provides a clearly defined duplex layout for residential ownership or leasing.
The property occupies 0.13 acres at 201 W Kettering Street in Lancaster, California, and carries LRR2 zoning. Stucco construction, tile roofing, central heating, and central air conditioning are included. With four total garage spaces and two similarly configured residences, the property provides a clearly defined duplex layout for residential ownership or leasing.
Key Highlights
- Two‑unit duplex with two‑story townhome‑style residences
- Each unit includes 4 bedrooms and 2 bathrooms
- 2,240 square feet on a 0.13‑acre lot
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
$37,451
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
4.75%
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%
$749,020
$749.0K
Cap Rate 7%
$535,014
$535.0K
Cap Rate 9%
$416,122
$416.1K
Market Conditions
NOI Build-Up for 2,240 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
$56.4K $25.20/SF
− Vacancy
−$2.9K −$1.32/SF
EGI
$53.5K $23.88/SF
− OpEx
−$16.1K −$7.17/SF
NOI
$37.5K $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%
$749,020
Cap Rate 7%
$535,014
Cap Rate 9%
$416,122
Alternative Uses
Best Use
Multifamily LT 5
$535.0K
$468.1K – $624.2K
NOI $37,451 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$479.0K
$419.1K – $558.8K
NOI $33,530 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$703.6K
$615.7K – $820.9K
NOI $49,253 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,108
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
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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?
Duplex - Two-story residences include private yards, updated kitchens, and attached garages with direct access to each home.
Where is this duplex located?
The property is located at 201 W Kettering Street Lancaster, CA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Two‑unit duplex with two‑story townhome‑style residences; Each unit includes 4 bedrooms and 2 bathrooms; 2,240 square feet on a 0.13‑acre lot
