44702 Fig Avenue

Lancaster CA 93534

8864 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

Back on Market - Exceptional value-add opportunity at 44702 Fig Ave. This 3,200 sq ft triplex offers in-place income and upside potential, featuring two 2-bedroom, 1-bath units renting for $1,997 and $1,800 per month, and one 3-bedroom, 2-bath unit renting for $2,450 per month. The property includes approved plans and permits to construct five additional 1-bedroom/1-bath units (approximately 2,300 additional sq ft), bringing the total projected building size to approximately 5,500 sq ft. Construction on the expansion has already begun, including framing, underground work, and top-outs. The estimated completion time is approximately 45 months, offering a streamlined path for the next owner to finalize the project. Projected rents for the new 1-bedroom units are estimated at $1,600$1,800 per month, with potential upside through housing voucher programs. Upon completion, the property is projected to generate approximately $14,000$15,000+ per month in gross rental income. The plans and permits took approximately three years to secure due to the complexity of adding this number of additional units. This is a rare opportunity for investors and builders seeking a project with approved permits in place, avoiding years of entitlement work.