Property Details
About this Property
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 mi
MLS Listing Information
MLS #
CRSR24129305
MLS Source
California Regional MLS
Days on Site
151
Interior Features
Appliances
Other
Cooling
Central Forced Air
Exterior Features
Pool
None
Parking, School, and Other Information
Garage/Parking
Garage, Garage: 8 Car(s)
Contact Information
Listing Agent
Anie Mayelian
Keller Williams Realty Calabasas
License #: 00778825
Phone: –
Co-Listing Agent
Aleen Mayelian
Keller Williams Realty Calabasas
License #: 02198281
Phone: –
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | 4 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
38605 25th St is a Residential Income in Palmdale, CA 93550. This – square foot property sits on a 31,131 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,675,000 and was built in 1988. This address can also be written as 38605 25th St, Palmdale, CA 93550.
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This listing information is up-to-date as of September 30, 2024. For the most current information, please contact Anie Mayelian
