1045 Elizabeth Lake RD
Palmdale, CA, 93551
$499,990
3 Beds
2 Baths
1,183 SqFt
0.24 Acres
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MLS #SR26155533 image #0
Income-Producing Single Family Home with Permitted Detached Cottage & Development Potential!

Exceptional investment opportunity featuring a well-maintained single-family home with a permitted detached cottage, both currently tenant-occupied and generating immediate cash flow.

The main residence offers approximately 783 square feet with 2 bedrooms and 1 bathroom and was updated in 2021. The permitted detached cottage provides approximately 400 square feet, creating an ideal setup for investors seeking immediate cash flow or owner occupants looking to offset their mortgage with rental income.

Situated on an R-3 zoned lot, this property offers excellent potential for future expansion, redevelopment, or the addition of residential units (buyer to verify all development possibilities with the City of Palmdale). The generous lot provides flexibility for future projects while the existing improvements deliver income from day one.

Conveniently located near shopping, schools, parks, public transportation, and major commuter routes, this property offers the perfect combination of current rental income and long-term investment potential. Whether you’re expanding your real estate portfolio, purchasing your first income property, or exploring future development opportunities, this versatile property presents a rare opportunity with immediate returns and significant upside.

Property Details

Price:
$499,990
MLS #:
SR26155533
Status:
Active
Beds:
3
Baths:
2
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
plmpalmdale
Listed Date:
Jul 16, 2026
Finished Sq Ft:
1,183
Lot Size:
10,454 sqft / 0.24 acres (approx)
Year Built:
1950
TraditionalParking TotalPlm – PalmdalePlmpalmdalePalmdaleNeighborhood

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Schools

School District:
Palmdale

Interior

Appliances
GR
Bathrooms
2 Full Bathrooms
Cooling
EV
Heating
WL
Laundry Features
IN
Levels
A
Main Level Bathrooms
1
Main Level Bedrooms
2

Exterior

Architectural Style
TRD
Attached Garage YN
1
Common Walls
NCW
Community Features
SUB
Garage Spaces
1
Parking Spots
1
Parking Total
1
Spa Features
NO
View
NE

Financial

Map

Community

Market Summary

Current real estate data for Single Family in Palmdale as of Aug 18, 2026
535
Single Family Listed
67
Avg DOM
265
Avg $ / SqFt
$542,138
Avg List Price

Property Summary

    1045 Elizabeth Lake RD Palmdale CA is a Single Family for sale in Palmdale, CA, 93551. It is listed for $499,990 and features 3 beds, 2 baths, and has approximately 1,183 square feet of living space, and was originally constructed in 1950. The current price per square foot is $423. The average price per square foot for Single Family listings in Palmdale is $265. The average listing price for Single Family in Palmdale is $542,138.

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1045 Elizabeth Lake RD
Palmdale, CA