$ 1,675,000
38605 25th Street Palmdale, CA 93550
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Listed by Anie Mayelian • Keller Williams Realty Calabasas
$ 1,675,000
Est. payment /mo
Active
38605 25th Street Palmdale, CA 93550
5,626 SqFt
UPDATED:
10/01/2024 04:42 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,626 sqft
Price per Sqft $297
MLS Listing ID CRSR24129305
HOA Y/N No
Originating Board Datashare California Regional
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 m
Location
State CA
County Los Angeles
Interior
Cooling Central Air
Fireplace No
Laundry In Garage, Inside
Exterior
Parking Type Other
Building
Water Public
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