Lancaster Multifamily Investment
342 East Lancaster Boulevard, Lancaster, CA 93535
Six-unit property in prime location with redevelopment potential.
Type:Commercial Sale / Multi Family
Property size:
3,212 SFLot size:
0.16 AcresPrice / SF:
$280/SF- Added:
- Sep 12, 2025
- Days on Market:
- 264
- Last Refresh:
- Mar 13 at 2:39 pm
Property Features for 342 East Lancaster Boulevard
General Information
- Standard status
- Active
- Size
- 3,212 SF
- Lot size
- 0.16 Acres
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 1958
Listing agent Manuel Morales License #01897413 (818) 246-1099
Listing office JohnHart Real Estate (818) 246-1099
Listing date Sep 12, 2025
Source Compass
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 JohnHart Real Estate
HighLights
- Income‑producing 6‑unit multi‑family property.
- Prime Lancaster Boulevard location near shops, dining, and public transportation.
- Steady cash flow in a revitalizing downtown corridor.
- Each unit features 1 bed and 1 bath, suitable for long or short‑term rentals.
- Generous 6,755 sq ft lot with on‑site parking and potential for value‑add improvements.
- Well‑maintained property with classic mid‑century charm.
Overview
This well-maintained 6-unit multi-family residential property is located in Lancaster. Constructed in 1958, the 3,212 square foot building is situated on a 6,755 square foot lot. Each of the six units features one bedroom and one bathroom. The property offers on-site parking and potential for value-add improvements or outdoor communal space. Located on Lancaster Boulevard, the property is near local shops, dining, and public transportation. The area is experiencing community-focused redevelopment and growing economic activity. This property offers long-term upside and dependable income.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.5k | $28.80 |
| − Vacancy | −$5.1k | −$1.58 |
| EGI | $87.4k | $27.22 |
| − OpEx | −$39.3k | −$12.25 |
| NOI | $48.1k | $14.97 |
3,212 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$686.9K
$601.0K – $801.3K
NOI $48,080 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$882.8K – $1.18M
NOI $70,625 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Los Angeles
- State
- California
- Longitude
- -118.1245015
- Latitude
- 34.6965178
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit property in prime location with redevelopment potential.
Where is this apartment building located?
The property is located at 342 East Lancaster Boulevard Lancaster, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Income‑producing 6‑unit multi‑family property.; Prime Lancaster Boulevard location near shops, dining, and public transportation.; Steady cash flow in a revitalizing downtown corridor.
