$250,000

706 W Milling Street

Lancaster CA, 93534

Description

This offering memorandum is for a RTB ready project in Lancaster, consisting of one APN number, 3133-023-025 for a total of 13,939 square foot lot with an approved and permitted building of 8,000 sq. ft. A commercial building with 8 units., each unit will have individually metered water & electric. Each unit will have its own access. This future commercial structure precludes a newly constructed 8-unit commercial building and open parking on the lot with a 3 to 1 parking ratio. This incredible opportunity offers an approximate CAP of 10.00% on total project cost, once the construction is completed and tenants are populated in the building with a reasonable vacancy rate of 3%, producing substantial, almost $163,200 Gross Scheduled Annual Income. Please review the highlights and contact us for a profitable opportunity.

Details

MLS#19011873
Listing TypeFor Sale
StyleIQWeb_Office Bldg
Sub-TypeResale
StatusActive
Year2019
Days On Site320

Features

SQ Feet8,000
Story(s)2
Units8
ZoningLRC*
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Area Information
StateCA
CountyLos Angeles
CityLancaster
Zip Code93534
Area03 - Lancaster West
Listing VS Median (in 93534)
Price:
$250,000
low | high
Med:
$224,500
60.2% of Average
SqFt:
8,000
low | high
Med:
477
100% of Average
$ / SqFt:
$31
low | high
Med:
$118
100% of Average
On Site:
320
low | high
Med:
187.5
100% of Average
Listing Updated: 09/22/2020
Janine Koster LogoMLS Number: 19011873
Listing Provided By:
Janine Koster  of  eXp Realty of California Inc.