850 W Milling Street
Lancaster, CA, 93534
$849,000
MLS: 26657755
Beds
6
Baths
4
Sq Ft
2,616
Lot
0.20 ac
Year Built
1947
MLS #
26657755
Days on Market
8
Listed
Mar 5, 2026
Description
Rare opportunity to own two fully remodeled homes on one lot, offering incredible flexibility for investors, short-term rental operators, or multi-generational living.The front home features 3 bedrooms and 2 bathrooms, while the back home also offers 3 bedrooms and 2 bathrooms, creating a versatile property with endless possibilities. Both residences have been recently remodeled with contemporary finishes, including fresh interior paint, new vinyl wood flooring, stylish modern countertops, updated kitchens, and new light fixtures throughout.The bathrooms in both homes have been completely redesigned, showcasing clean, modern aesthetics and thoughtful upgrades that elevate the overall feel of each space.In addition to the dual living spaces, the property includes a 4-car garage, providing ample parking, storage, or potential workspace.What truly sets this property apart is its proven income history. Currently operating as a short-term rental, this property has consistently generated over six figures annually, making it a true cash-flowing investment opportunity.Whether you're looking to house hack, expand your investment portfolio, or own a turnkey income-producing property, this unique two-home setup delivers both style and strong financial performance.Opportunities like this rarely hit the market.
Location
Lancaster, Los Angeles County, CA 93534
Open on Google Maps ↗Also listed on GAVAR · MLS# 26001990
Listed by: Arvin Garcia · Real Broker
Payment estimate
$6,322
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $84,900 · Loan: $764,100
- Principal & Interest
- $4,820
- Property tax (1.25%)
- $884
- Homeowners insurance
- $300
- Mortgage insurance
- $318
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Jun 4, 2026
- 30-year fixed
- 6.48%
- 15-year fixed
- 5.79%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
Lancaster, CA in context
Lancaster is the largest city in the Antelope Valley and the heart of Mike Watson’s service area, covering ZIP codes 93534, 93535, and 93536. From the historic BLVD downtown to West Lancaster’s master-planned communities and the rural acreage of Antelope Acres, Lancaster offers more housing variety than any other AV city. Whether you’re shopping for your first home, an investment property, or your forever house with a view, the listings below are pulled live from the MLS. If you are evaluating homes in Lancaster, Mike Watson lives and works the Lancaster market every day. He pairs this listing with a free market analysis for your specific street, an honest read on the financing options that fit (FHA, VA, USDA, CalHFA, conventional, and assumable when the loan supports it), and a side-by-side compare against the rest of the active inventory in the area.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Lancaster home with as little as 3.5% down using an FHA loan — roughly $29,715 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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Local Market Stats
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Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
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