42239 Sierra HwyLancaster, CA 93535

Property Details for 42239 Sierra Hwy

Year built

1952

Construction

TILT-UP CONCRETE

Lot size

0.62 AC

Property size (Sq ft)

1,384 SF

Zone code

LRC3*

Property type

Investment properties

Property subtype

Live-work space

APN

3128-014-009

APU

3128014009

Description

This exceptional mixed-use investment property in Lancaster, CA, presents a compelling opportunity. Located at 42239 & 42247 Sierra Highway, this property boasts a total of 1,384 square feet across three units within two single-story buildings, constructed in 1952. Situated on a substantial 27,182 square foot lot, the property offers significant potential for various uses, subject to the LRC3* permitted zoning. The asking price is $595,000, translating to $325 per square foot for the building and $325 per square foot for the land. The property's strategic location near a diverse range of businesses, including auto shops, motels, and construction companies, enhances its appeal. Its proximity to a gas station and the courthouse further adds to its convenience and accessibility. This property is ideal for investors seeking a versatile asset with substantial upside potential in a thriving area. The property features two bedrooms and two bathrooms. The APN is 3128-014-009. This is a rare opportunity to acquire a well-positioned mixed-use property in a high-growth area of Los Angeles County.

• CAP approach

  CAP return

  Valuation

  6%

  $439,143

  6.5%

  $405,363

  7%

  $376,408

• Comparable approach

  Method

  Valuation

  Relative Method

  $263,181

  Geo Method

  $263,181

• Alternative Use

  Use

  Valuation

  Residential

  $502,650

  Hospitality

  $460,424

  Educational

  $383,068

  Medical

  $396,242

  Retail

  $595,883

Location Insight

City

Lancaster

County

Los Angeles

State

California

Latitude

34.6507

Longitude

-118.13

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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