map Map favorite Favorite share Share image 1 Photos print Print
Photo

38533 11Th Street

Palmdale, CA 93550

$319,900

List Price

2

bed Beds

1

shower Baths

864 sqft

straighten / sqft

1948

calendar_month Built

Property Description

Excellent investment/development opportunity at a very attractive price. Currently one of the lowest-priced single-family homes in Palmdale. This property sits on a half-acre, street-to-street lot with Palmdale's highest density RN4 zoning, which allows for 30-50 units per acre. Thus, this property should allow for 15-25 units on its half-acre lot. Currently, there is a single-family home on the lot. It is being rented for $1,550 per month to a longtime tenant. These tenants would like to stay long term, if possible. This property presents investors with a variety of potential strategies. The property currently produces good cash flow. This cash flow can be increased by raising the rent on the current tenants. Owing to California's new legislation regarding ADU's on multi-family zoned properties, multiple ADU's could be built on the excess land while retaining the original house. With its street-to-street lot, access to the rear ADU's would be easy on this property. Finally, the existing house could be demolished and a new 15-25 unit apartment building could be built. Additional density may be had through affordable housing exemptions, LIHTC financing and tax credits may be available, and this property is also in an opportunity zone for additional potential benefits. While waiting for a new project to be approved, rent can continue to be collected from the tenants to avoid having ''dead money'' tied up in a vacant land parcel. Lastly, this property is also priced at a level where it could be rehabbed and flipped. There are numerous potential strategies here for a wide variety of investors. All utilities, including sewer, are connected. Sitting on prime multi-family land in the heart of Palmdale, this property's development potential is immense. Don't miss out!

Listing Information

List Price $319,900
Status Active
MLS SR25021804
HOA $0
Type Residential
Subtype Single Family Residence
Year Built 1948
Lot Size 22,140
Structure Size 864
Courtesy Of Castlestone Properties, Inc.
Listing Agent Mark Mestepey DRE#01991537

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms 2
Total Bathroom
Bathrooms 1
Fireplace Information
Features None
Cooling Type
Cooling Type Evaporative Cooling

Exterior Information

Maps

home_work Nearby Properties

Image

$319,900

king_bed 2
shower 1
straighten N/A
straighten 22,216
38533 E 11Th Street,

Palmdale, CA 93550
Image

$2,095

king_bed 2
shower 1
straighten N/A
straighten 21,780
38520 E 11Th Street,

Palmdale, CA 93550
Image

$2,400,000

king_bed N/A
straighten N/A
straighten 46,635
38543 10Th Street,

Palmdale, CA 93550
Image

$2,400,000

king_bed N/A
straighten N/A
straighten 46,635
38543 10Th Street,

Palmdale, CA 93550
Image

$395,000

king_bed 3
shower 2
straighten 860
straighten 12,196
38588 9Th St East,

Palmdale, CA 93550

Listing information courtesy of: Mark Mestepey, Castlestone Properties, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Jan 30th, 2025 at 1:57 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.