240 E Avenue C
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 25, 2025 | Listed | $12,000,000 | |
| Listed | |||
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This offering consists of 2 parcels (3338-015-005 and 3338-015-006) totaling approximately 160 acres of prime vacant land east of Lancaster and Palmdale. Zoned LCA-11 (A-1-1) which although allowing residential and agriculture by right, a CUP could establish endless use possibilities for this flat, open space. Also, the High Desert Corridor of California's high speed rail from Palmdale to Victorville and on to Vegas is planned to come through this area which could create tremendous growth as both parcels could be in the path of development for not only the rail itself but also for development in the surrounding area that may benefit from the establishment of the rail. Property is being sold "as is" and seller makes no representations or warranties about the condition of the property or its potential uses. Buyers and buyer's agents shall do all their own inspections and investigations to satisfy themselves regarding any and all potential future development in the area and possible uses of subject property.
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| Nov 5, 2024 | Listed by HomeBased Realty | $25,000 | |
| Listed by HomeBased Realty | |||
Property Highlights
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About Lancaster
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017