Incredible value-add multi-family investment opportunity in the fast growing city of Palmdale CA. This rare investment opportunity for savvy investors is a 14-unit apartment complex with in long term tenants in place. This property was built in 1983, has a wood construction, and sits on + 21,463 sqft of land with + 12,900 sqft of improvements. The property is mostly uniform and is comprised of 13 Two-Bed/One-Bath units, and 1 Three-Bed/Two-Bath unit. All units are individually metered for gas and electric, and master metered for water. Property has gated access with 20 parking spaces, 14 of which are covered. Located in a working class area, this property is centrally located and has convenient access to public transportation, shopping, and dining. The city is currently reinvesting tax dollars in this area and improving city streets, literally, with re-paving the roads and installing new street lights. The property has been well-maintained and is in excellent condition, requiring minimal maintenance and upkeep. Plus, with a solid tenant base already in place, you can start generating income from day one. Property currently has below market rents and is in a position to possibly generate even more income.
Sold for $2,175,000 on 09/26/23
$2,175,000
38225 12th St E, Palmdale, CA 93550
29beds
15baths
12,900sqft
Multi Family
Built in 1983
-- sqft lot
$-- Zestimate®
$169/sqft
$1,575 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: October 22, 2024 at 08:23pm
Listed by:
Kesean Diamond DRE #02165946,
Keller Williams Realty A.V.
Bought with:
Fabian L Terracciano, DRE #1025656
RE/MAX All-Pro
Source: GAVAR,MLS#: 23001990

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 29
- Bathrooms: 15
Interior area
- Total structure area: 12,900
- Total interior livable area: 12,900 sqft
Property
Parking
- Total spaces: 12
- Covered spaces: 12
Lot
- Size: 0.49 Acres
Details
- Parcel number: 3014028017
- Zoning: R3
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Concrete, Frame, Stucco
- Roof: Composition
Condition
- Year built: 1983
Community & neighborhood
Location
- Region: Palmdale
Other
Other facts
- Listing terms: Cash,Conventional