38605 25Th StPalmdale, CA 93550

Property Details for 38605 25Th St

Year built

1988

Property size (Sq ft)

5,626 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Palmdale

County

Los Angeles

State

California

Latitude

34.5842

Longitude

-118.085

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