38533 11Th Street, Palmdale, CA 93550
-
Listed Price :
$319,900
-
Beds :
2
-
Baths :
1
-
Property Size :
864 sqft
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Year Built :
1948
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!
Interior Features
| Laundry Information |
| Location(s) |
None |
| Bedroom Information |
| Bedrooms |
2 |
| Bathroom Information |
| Bathrooms |
1 |
| Interior Information |
| Cooling Type |
Evaporative Cooling |
Listing Information
| Address |
38533 11Th Street |
| City |
Palmdale |
| State |
CA |
| Zip |
93550 |
| County |
Los Angeles |
| Listing Agent |
Mark Mestepey DRE #01991537 |
| Courtesy Of |
Castlestone Properties, Inc. |
| List Price |
$319,900 |
| Status |
Active |
| Type |
Residential |
| Subtype |
Single Family Residence |
| Structure Size |
864 |
| Lot Size |
22,140 |
| Year Built |
1948 |
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.
