38605 25th Street, Palmdale
Palmdale Home For Sale
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.
Property Details
Additional Information
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- City:
- Palmdale
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- County:
- Los Angeles
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- Zip:
- 93550
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- MLS® #:
- SR24129305
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- Bedrooms:
- 15
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- Bathrooms:
- 8
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- Lot Size:
- 0.71
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- Levels:
- One
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- Garages:
- 8
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of August 17th, 2024 at 12:50pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.