We are pleased to present a cash flowing 4 unit building in Palmdale with a cap rate of 7.5% in an opportunity zone! Located in Los Angeles County and built in 1988, the property is not subject to City of LA rent control and only subject to CA AB 1482, which allows for 8.9% annual rent increases. Amazing unit mix of three 4 bedroom / 2 bath units and one 3 bedroom / 2 bath unit with total income of $165,396. 2 units are currently vacant, allowing the buyer to achieve market rents! Each unit is spacious, with its own yard, garage, and privacy similar to a single family home. The units are completely remodeled and feature new kitchens, bathrooms, new flooring, in-unit washer/dryers, newer appliances, tiled fireplaces, and garage cabinetry. The occupied units are currently rented to Section 8 tenants, thereby generating consistent cash flow. Each unit also has an attached garage with space for 2 cars and additional parking spaces on the driveway. Set on a large lot of appx. ± 31,131 sq. ft. and in a quiet cul-de-sac, the building presents itself as a tranquil apartment community for renters. Minutes from Palmdale Shopping Mall, Blackbird Airpark, Palmdale Regional Airport, and major aerospace employers such as Boeing, Lockheed Martin, and Northrop Grumman, which are all within a 15 minutes drive from the subject property.
Property Details
Price:
$1,675,000
MLS #:
SR24129305
Status:
Active
Baths:
0
Address:
38605 E 25th Street
Type:
Residential Income
Subtype:
Quadruplex
Neighborhood:
plmpalmdale
City:
Palmdale
Listed Date:
Jun 24, 2024
State:
CA
ZIP:
93550
Lot Size:
31,131 sqft / 0.71 acres (approx)
Year Built:
1988
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Schools
Interior
Cooling
Central Air
Exterior
Community Features
Sidewalks, Storm Drains, Street Lights
Garage Spaces
8.00
Lot Features
Lot 20000-39999 Sqft
Parking Features
Garage
Parking Spots
8.00
Pool Features
None
Sewer
Public Sewer
Stories Total
1
Water Source
Public
Financial
Map
Community
- Address38605 E 25th Street Palmdale CA
- AreaPLM – Palmdale
- CityPalmdale
- CountyLos Angeles
- Zip Code93550
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Courtesy of Keller Williams Realty Calabasas. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
38605 E 25th Street
Palmdale, CA
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