Seven-Unit Multifamily
For Sale
$1,375,000
44751 Fern Ave, Lancaster, CA 93534
Well-maintained income property featuring seven units, offering a straightforward option for residential rental ownership.
Property Size5,050 SF
Price / SF$272.28
Days on Market99
Property Features for 44751 Fern Ave
General Information
Standard status
Active
Size
5,050 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
7
Building Details
Tenancy
Multi
Listing Agency:
Remax Commercial and Investment Realty
(626) 657-8150
Listed By:
Shant Sherbetdjian · License #01713570
(626) 657-8150
Source:
Exprealty
Added: May 26
Changed: Aug 25
Last Checked: Aug 30 at 9:49PM
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 Remax Commercial and Investment Realty
Investment Insights
Based on property information with market context.
This for-sale multifamily property consists of seven units in a residential income building. It is presented as an apartment-type investment opportunity, with the unit count providing the core basis for how the property functions operationally.
Located at 44751 Fern Ave in Lancaster, California (93534), the property’s address places it within the Lancaster market area. As a multi-unit building, it is designed for ongoing residential leasing, rather than single-tenant occupancy.
For buyers seeking a small, manageable residential income asset, a seven-unit structure can be an appealing size for day-to-day ownership and tenant turnover. The property’s documented configuration supports a rental business model centered on multiple residential units under one ownership. If you’re evaluating income property options in Lancaster, this offering provides a clear unit count and residential apartment format to help frame underwriting and operational planning, including staffing and maintenance considerations associated with a seven-unit building.
Located at 44751 Fern Ave in Lancaster, California (93534), the property’s address places it within the Lancaster market area. As a multi-unit building, it is designed for ongoing residential leasing, rather than single-tenant occupancy.
For buyers seeking a small, manageable residential income asset, a seven-unit structure can be an appealing size for day-to-day ownership and tenant turnover. The property’s documented configuration supports a rental business model centered on multiple residential units under one ownership. If you’re evaluating income property options in Lancaster, this offering provides a clear unit count and residential apartment format to help frame underwriting and operational planning, including staffing and maintenance considerations associated with a seven-unit building.
Key Highlights
- 7‑unit residential income property in Lancaster
- Built in 1983
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
$75,592
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
5.50%
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%
$1,511,840
$1.5M
Cap Rate 7%
$1,079,886
$1.1M
Cap Rate 9%
$839,911
$839.9K
Market Conditions
NOI Build-Up for 5,050 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
$145.4K $28.80/SF
− Vacancy
−$8.0K −$1.58/SF
EGI
$137.4K $27.22/SF
− OpEx
−$61.8K −$12.25/SF
NOI
$75.6K $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%
$1,511,840
Cap Rate 7%
$1,079,886
Cap Rate 9%
$839,911
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$944.9K – $1.26M
NOI $75,592 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,039 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,184
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?
Apartment building - Well-maintained income property featuring seven units, offering a straightforward option for residential rental ownership.
Where is this apartment building located?
The property is located at 44751 Fern Ave Lancaster, CA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 7‑unit residential income property in Lancaster; Built in 1983
