38605 25th ST E Active Save Request In-Person Tour Request Virtual Tour
Palmdale,CA 93550
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 SR24129305
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
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
Building
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard