38605 25th Street E
Palmdale, CA 93550
- – beds
- – baths
- – sqft
- ~3/4 acre lot
- 1988 build
- – on site
We are pleased to present a fully cash flowing 4 unit building in Palmdale with a current cap rate of 7.4% 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 starting in August 2024. Amazing unit mix of three 4 bedroom / 2 bath units and one 3 bedroom / 2 bath unit with total current income of $164,868. 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. All 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. Possibility for one unit to be delivered vacant! 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.
Last checked:
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Last updated Jun 26, 2024
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MLS# SR24129305 —
This property is listed in more than one place. See it here.
The Building
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Year Built:1988
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Year Built Source:Assessor
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New Construction:No
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Entry Level:1
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Common Walls:1 Common Wall
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Building Area Total:5626.00
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Building Area Units:Square Feet
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# of Buildings:1
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Total Number Of Units:4
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Stories Total:1
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# of Separate Gas Meters:5
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# of Separate Water Meters:1
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# of Separate Electric Meters:5
Interior
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Levels:One
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Entry Location:25th St E
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Laundry:In Garage, Inside
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Laundry:1
Location
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Directions:E Palmdale Blvd & E Ave Q
The Property
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Property Type:Residential Income
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Subtype:Quadruplex
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Zoning:PDR1*
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Lot Features:Lot 20000-39999 Sqft
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Lot Size Area:31131.0000
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Lot Size Acres:0.7147
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Lot Size SqFt:31131.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:9106.01
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Tax Tract:45535
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Tax Lot:6
The Listing
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Buyer's Brokerage Compensation:2.000%
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Special Listing Conditions:Standard
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Buyer's Brokerage Compensation:$2
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Parcel Number:3018016049
Heating & Cooling
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Cooling:Yes
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Cooling:Central Air
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Senior Community:No
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Features:Sidewalks, Storm Drains, Street Lights
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Pool:None
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Private Pool:No
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Assessments:No
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Assessments:None
Parking
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Parking:Yes
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Parking:Garage
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Parking Spaces:8.00
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Garage Spaces:8.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
6/25/24
Jun 25, 2024
|
Listed / Active | CRMLS_CA | $1,695,000 |