Duplex With Additional
For Sale
$600,000
44632 Fern Avenue, Lancaster, CA 93534
Lancaster, CA
Property Size2,163 SF
Lot Size0.20 Acres
Price / SF$277.39
Days on Market102
Property Features for 44632 Fern Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 5, Kitchen, Bedroom 4, Bathroom 2, Laundry Room, Bathroom 1, Bathroom 3, Bedroom 1
Parking
2
Parking features
Covered
Interior features
Ceiling Fan(s)
Fireplace
1
Appliances
Gas Cooktop, Microwave, Refrigerator, Gas Oven
Lot features
0-1 Unit/ Acre
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Directions
10th St W and Lancaster Blvd
Subdivision
LAC - Lancaster
Standard status
Active
APN
3133021020
Size
2,163 SF
Lot size
0.20 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
A/C units per bedroom
washer and dryer
RV power adapters
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Carpet, Vinyl
Architectural style
Other
Listing Agency:
Johnhart Real Estate
(818) 246-1099
Listed By:
Augusto Hernandez · License #01490556
(661) 492-4626
Added: May 20
Changed: Aug 25
Last Checked: Aug 29 at 7:06AM
MLS# SR26109830
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 Lancaster duplex property contains 2,163 square feet across two residences on a 0.204-acre lot. The primary home provides approximately 1,700 square feet with three bedrooms, a bonus room, living and dining areas, and two full bathrooms. Individual bedroom air-conditioning units are included. A second 463-square-foot ADU adds one bedroom, a kitchen, full bathroom, and washer and dryer; the ADU is identified with a 2026 build year.
The property is located at 44632 Fern Avenue in Lancaster, near schools and downtown. Public water and public sewer serve the site. Covered parking is present, and multiple RV power adapters are installed. The lot also offers space identified for RV parking or future expansion.
The property is located at 44632 Fern Avenue in Lancaster, near schools and downtown. Public water and public sewer serve the site. Covered parking is present, and multiple RV power adapters are installed. The lot also offers space identified for RV parking or future expansion.
Key Highlights
- Two residences totaling 2,163 square feet on a 0.204‑acre lot
- Primary home measures approximately 1,700 square feet with 3 bedrooms, a bonus room, and 2 full bathrooms
- 463‑square‑foot ADU with 1 bedroom, kitchen, full bathroom, and washer and dryer
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
$36,164
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
6.03%
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%
$723,280
$723.3K
Cap Rate 7%
$516,629
$516.6K
Cap Rate 9%
$401,822
$401.8K
Market Conditions
NOI Build-Up for 2,163 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
$54.5K $25.20/SF
− Vacancy
−$2.8K −$1.32/SF
EGI
$51.7K $23.88/SF
− OpEx
−$15.5K −$7.17/SF
NOI
$36.2K $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%
$723,280
Cap Rate 7%
$516,629
Cap Rate 9%
$401,822
Alternative Uses
Best Use
Multifamily LT 5
$516.6K
$452.1K – $602.7K
NOI $36,164 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$462.5K
$404.7K – $539.6K
NOI $32,378 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$679.4K
$594.5K – $792.7K
NOI $47,560 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,061
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?
Duplex - Two residences share a spacious lot with public water and sewer, plus multiple RV power adapters.
Where is this duplex located?
The property is located at 44632 Fern Avenue Lancaster, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two residences totaling 2,163 square feet on a 0.204‑acre lot; Primary home measures approximately 1,700 square feet with 3 bedrooms, a bonus room, and 2 full bathrooms; 463‑square‑foot ADU with 1 bedroom, kitchen, full bathroom, and washer and dryer
