38605 25th Street Palmdale, CA 93550
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 TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site6 Days
- MLS StatusActive
- MLS ID NumberSR24129305
- Home Size Source N/A
- Year BuiltN/A
- Lot Size0.7147 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Terms CashConventional
- Stories 1 Story
Interior Features
- Cooling Central Forced Air
Exterior Features
- Pool N/K