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38605 25th St
For Sale $1,675,000
$1,675,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 31,131 Sq Ft
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,675,000 |
| Property Type | Fourplex (4-units) |
| Usable Sqft | Unknown |
| Number of Stories | 1 stories |
| Parking Spots | 8 spots |
| Year Built | 1988 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 3018016049 |
| MLS # | SR24129305 |
| Property ID | 320614385 |
| Lot Sqft | 31,131 |
| Zoning | PDR1* |
| Total Units | 4 |
| Days on Market | 154 |
| Original List Price | $1,695,000 |
| Date Updated | September 30, 2024 |
| Date Created | June 24, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $165,108 | $0 |
| Net Income (Yr) | $ 125,658 |
| Cap Rate | 7.5% |
Listing Provided By
Anie Mayelian an agent of Keller Williams Realty Calabasas. Lic #00778825
© 2024 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of September 30, 2024 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT