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38605 25Th Street

Palmdale, CA 93550

PRICE REDUCED

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-$20,000 (-1.18%)

$1,675,000

List Price

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1988

calendar_month Built

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.

Listing Information

List Price $1,675,000
Status Active
MLS SR24129305
Type Residential Income
Subtype Quadruplex
Year Built 1988
Lot Size 31,131
Structure Size N/A
DOM 97
Courtesy Of Keller Williams Realty Calabasas
Listing Agent Anie Mayelian DRE#00778825
Co-Listing Agent Aleen Mayelian DRE#02198281

Interior Features

Laundry Information
Location(s) Inside, In Garage
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

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king_bed 4
shower 2
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Listing information courtesy of: Anie Mayelian, Aleen Mayelian, Keller Williams Realty Calabasas . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:25 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.