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James Patton

james@thebeardedagent.com +1(714) 342-6490

$ 1,675,000

Est. payment -/mo

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38605 25th ST E Palmdale, CA 93550

0.71 Acres Lot

UPDATED:

09/30/2024 06:25 PM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR24129305

HOA Y/N No

Year Built 1988

Lot Size 0.715 Acres

Property Description

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 $165,108. 1 unit is 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.

Location

State CA

County Los Angeles

Area Plm - Palmdale

Zoning PDR1*

Rooms

Ensuite Laundry Inside, In Garage

Interior

Laundry Location Inside,In Garage

Cooling Central Air

Fireplace No

Laundry Inside, In Garage

Exterior

Garage Garage

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Storm Drain(s), Street Lights, Sidewalks

Parking Type Garage

Total Parking Spaces 8

Private Pool No

Building

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 3018016049

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Lease Land No

Listed by Anie Mayelian • Keller Williams Realty Calabasas • 818-915-9118

James Patton

Agent | License ID: 01816048

+1(714) 342-6490

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James Patton

James Patton

38605 25th ST E Palmdale, CA 93550

Key Details

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Rooms

Interior

Exterior

Building

Others

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38605 25th ST E