For Sale
$1,675,000

38605 25Th StPalmdale, CA 93550

4-unit building, 7.5% cap rate, remodeled

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 4-unit apartment building presents a compelling investment opportunity in Palmdale, California. Boasting a 7.5% cap rate and a substantial net operating income (NOI) of $125,658, this property offers strong cash flow potential. Built in 1988 and situated on a large 31,131 square foot lot, the property features a desirable unit mix: three 4-bedroom/2-bathroom units and one 3-bedroom/2-bathroom unit, totaling 5,626 square feet of living space. Each unit is generously sized and includes its own private yard, attached two-car garage, and additional driveway parking. Recent renovations encompass new kitchens, bathrooms, flooring, in-unit laundry, appliances, tiled fireplaces, and garage cabinetry. Currently, some units are occupied by Section 8 tenants, ensuring consistent rental income. One unit is vacant, allowing for immediate market rent adjustments. The property benefits from its location in a quiet cul-de-sac, close proximity to Palmdale Shopping Mall, Blackbird Airpark, Palmdale Regional Airport, and major aerospace employers like Boeing, Lockheed Martin, and Northrop Grumman. Importantly, this property is not subject to City of Los Angeles rent control, and is only subject to California's AB 1482, permitting annual rent increases up to 8.9%. The asking price is $1,675,000. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving location. The property's location in Los Angeles County, with APN 3018-016-049, further enhances its investment appeal.

Highlights

  • 7.5% Cap Rate, 4-unit Palmdale multifamily in Opportunity Zone.
  • Subject to AB 1482 (8.9% annual rent increases), no Los Angeles City rent control.
  • One vacant unit available.
  • Completely remodeled units with new kitchens, baths, flooring, in-unit laundry, private yards, appliances, fireplaces, and garage cabinetry.
  • Occupied units have Section 8 tenants, providing stable cash flow.
  • Large 31,131± sq. ft. lot in quiet Palmdale cul-de-sac, near Boeing, Lockheed Martin, and Northrop Grumman.

Property Details for 38605 25Th St

Property type
Apartment buildings
Square Feet
5,626 SF
Year Built
1988
Stories
1
Units
4

Location Insight

City
Palmdale
County
Los Angeles
State
California
Latitude
34.584212306895
Longitude
-118.08536062175
38605 25Th St, Palmdale, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
38605 25Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message