$1,675,000
38605 25th ST E Palmdale, CA 93550
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$1,675,000
Est. payment /mo
0.71 Acres Lot
Active
38605 25th ST E Palmdale, CA 93550
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*
Interior
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
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
Listed by Anie Mayelian • Keller Williams Realty Calabasas • 818-915-9118