38605 25th Street East

Palmdale, CA 93550

$1,675,000
Price
15
Beds
8
Baths
5,626 Sq. Ft.
$298 / Sq. Ft.
5,626
Sq. Ft.
$298
per 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,...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.
  1. Listed by Anie Mayelian • DRE #00778825 • Brokerage DRE #01872625 • Keller Williams Realty Calabasas • 818-915-9118
  2. Listed by Aleen Mayelian • DRE #02198281 • Brokerage DRE #01872625 • Keller Williams Realty Calabasas

Property Details for 38605 25th Street East

Parking Spaces Total
8
Private Pool
No
Cooling Type
Central Forced Air
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5626
Assessor Parcel Number
3018-016-049
LISTING UPDATED: 09/30/2024 03:42 AM

Property Details for 38605 25th Street East

StatusActive
MLS #SR24129305
Days on Market151
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.71 AC / 31,131 SF
CountyLos Angeles County

Building Information for 38605 25th Street East

Stories1Residences-Year Built1988Building Size-Lot Size0.71 AC / 31,131 SF

Property Information for 38605 25th Street East

Income / Expense / Tax Details
Income Details
  • Gross Income: $165,108
  • Gross Scheduled Income: $165,108
  • Vacancy Allowance: 4953
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $160,154
  • Net Operating Income: $125,658
  • Gross Multiplier: 10.1
  • Cap Rate: 7.5
Expense Details
  • Operating Expense: $34,496
  • New Taxes Expense: $20,937
  • Gardener Expense: $3,600
  • Fuel Expense: $0
  • Electric Expense: $243
  • Insurance Expense: $1,764
  • Maintenance Expense: $2,400
  • Trash Expense: $1,450
  • Water Sewer Expense: $4,101
  • Total Expenses: $34,496
Tax / Assessment Info
  • Tax Tract Number: 45535
  • Tax Census Tract: 9106.01
  • CFD/Mello-Roos Fee: $2,446
  • Tax Lot: 6
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: In Garage, Inside
  • Cooling: Central Air
Exterior Features
  • Entry Location: 25th St E
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 20000-39999 Sqft
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Parking: Yes
  • Parking Garage: Garage
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
  • Parking Features: Garage
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,465
  • Unit Type Total Rent: $3,465
  • Unit Type Pro Forma: 3465
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,441
  • Unit Type Total Rent: $3,441
  • Unit Type Pro Forma: 3465
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,388
  • Unit Type Total Rent: $3,388
  • Unit Type Pro Forma: 3465
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 3465
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 38605 25th Street East

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 38605 25th Street East

Taxable ValueLand$120,299Additions$676,965Total$797,264
Tax Record2024$11,933 ($994 / month)
Home Facts
Total Finished SqFt5,626 SqFtAbove Grade Finished SqFt5,626 SqFtLot Size31,131 SqFtStyleQuadraplexYear Built1988ZoningPDR1*CountyLOS ANGELESAPN3018-016-049

Schools near 38605 25th Street East

This home is within Antelope Valley Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Tamarisk
PublicK to 5

Palmdale High School
Public9 to 12

Phoenix High Community Day School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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38605 25th Street East is a multi-family home for sale in Palmdale, CA 93550. This property was listed for sale on June 24, 2024 by Keller Williams Realty Calabasas, it's currently listed at $1,675,000. It has been on the market for a total of 151 days and was last sold on December 31, 2018. This listing's school districts are Antelope Valley Union High School District, Palmdale Elementary School District. Nearby schools include Tamarisk, Cactus Medical Health and Technology Magnet Academy and Palmdale High School. 38605 25th Street East is a 15-bed, 8-bath, 5,626 sqft multi-family home built in 1988.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Calabasas, Anie Mayelian, DRE #00778825; Keller Williams Realty Calabasas, Aleen Mayelian, DRE #02198281

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.