1210 Mdw Vw Ln Lancaster, CA 93534
- Apartment buildings
- 71,564 SF
- 2.59 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1210 Mdw Vw Ln
- Year built
- 1986
- Lot size
- 2.59 lot acres
- Property size
- 71,564 SF
- Zone code
- LRRPD70001
- Property type
- Apartment buildings
- APN
- 3123-012-046
- APU
- 3123012046
Description
This exceptional 152-unit apartment building in Lancaster, CA, presents a compelling value-add investment opportunity. Located at 1210 Meadow View Ln, 93534, this Class C property boasts 122,713 square feet across 19 two-story buildings, built in 1986. Currently operating at 84% occupancy, the property generates a Net Operating Income (NOI) of $1,625,876, with a current cap rate of 4.78%. A pro-forma analysis projects a significant increase in NOI to $2,280,898 and a cap rate of 6.71%, highlighting substantial upside potential through improved management and vacancy reduction. The property features desirable amenities including a pool, spa, clubhouse, recreation room, BBQ grills, and gated, secured access. Its convenient location offers close proximity to the 14 Freeway and Antelope Valley Hospital. The asking price is $34,000,000, translating to $223,684 per unit. The property is zoned LRRP D70001 and has an APN of 3123-012-045, 046. This garden-style townhome community presents a strong investment opportunity in a growing market, offering significant potential for value appreciation and increased cash flow. The property's current performance and projected improvements make it an attractive addition to any portfolio.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Los Angeles
- State
- California
- Longitude
- -118.154
- Latitude
- 34.6806
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
