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Foreclosure
  • $1,099,000

    38624 15th St E, Palmdale, CA 93550

    1210beds
    3,629sqft
    Multi Family
    Built in 1953
    -- sqft lot
    $1,084,300 Zestimate®
    $303/sqft
    $-- HOA

    What's special

    Traditional homes
    Seller Will payoff Solar before close of escrow Investment Property Discretion Summary Location 38624 15th St East, Palmdale, CA 93550 Parcels: 2 (Combined Use) Property Type Mixed (3 Homes + 2 Mobile Homes) Total Monthly Income $8,900 Positioning: Heart of Palmdale (Prime Urban Location) Key Highlights for Discretion Strong Cash Flow** $8,900/month gross income offers immediate ROI potential. - Versatile tenant options (residential or blended use). Strategic Location** Urban center proximity ensures high demand for housing/rentals. Access to amenities (transit, schools, retail) enhances tenant retention. Dual-Parcel Flexibility Subdivision potential (sell/develop parcels separately). -Expansion options (e.g., ADUs, lot splits per local zoning). 4. Hybrid Housing Model - Traditional homes attract long-term tenants; mobile homes cater to affordable housing demand. Diversified income reduces vacancy risk. Value-Add Opportunities Renovate mobile homes for higher rents or convert to tiny homes. Explore city incentives for multi-family or mixed-use development. Market Resilience , Palmdale's growth (AV Valley demand, proximity to LA) supports appreciation. Scarcity of centrally located multi-unit properties boosts long-term value, Discretionary Considerations Zoning Verify allowable uses (e.g., R3 for multi-family, mobile home ordinances). -Expenses: Factor in maintenance (mobile homes require upkeep) and property management, Tenant Mix: Screen for stable occupancy (e.g., Section 8 vouchers for mobile homes). Exit Strategies: Hold for cash flow, sell parcels individually, or redevelop. 3 Parcels Target Audience Buyers seeking cash flow, developers eyeing infill potential, or landlords wanting a turnkey portfolio starter. Final Note A rare blend of income, location, and adaptability ideal for hands-on or passive investors. Would you like a financial breakdown (cap rate, NOI, etc.) or comps to refine discretion further?
    108 days
    on Zillow
    |
    429
    |
    10
    |

    Zillow last checked: 7 hours ago

    Listing updated: May 01, 2025 at 06:31pm

    Listed by:

    Samir Rafeh DRE #01978836 805-857-3440,

    eXp Realty of California Inc

    Source: CSMAOR,MLS#: 225001808MLS Logo
    Travel times

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    Next available tour time:Today at 4:30pm

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 1210
    • Bathrooms: 7
    • Full bathrooms: 7
    Features
    • Flooring: Carpet, Laminate
    • Has fireplace: Yes
    • Fireplace features: Other
    Interior area
    • Total structure area: 3,629
    • Total interior livable area: 3,629 sqft

    Property

    Parking
    • Total spaces: 2
    • Parking features: Garage
    • Garage spaces: 2
    Features
    • Stories: 1
    • Entry location: Main Level
    • Has private pool: Yes
    • Pool features: Private
    Lot
    • Size: 0.81 Acres
    Details
    • Parcel number: 3015015039
    • Special conditions: Real Estate Owned,Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Condition
    • Year built: 1953

    Community & HOA

    Location
    • Region: Palmdale

    Financial & listing details

    • Price per square foot: $303/sqft
    • Tax assessed value: $383,844
    • Annual tax amount: $5,925
    • Date on market: 4/13/2025
    • Listing terms: Take Property As Is,Owner Will Carry,Owner May Carry,Fannie Mae,Conventional,All Inclusive Trust Deed
    • Tenant pays: Gas, Cable TV
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