Palmdale, CA 93550,38225 12th ST E
Palmdale, CA 93550,38225 12th ST E
Palmdale, CA 93550,38225 12th ST E
Palmdale, CA 93550,38225 12th ST E
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$2,175,000

$2,500,000

13.0%
Est.Price: ?

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Est. payment /mo

0.49 Acres Lot


SOLD DATE : 09/26/2023

Key Details

Sold Price $2,175,000

Property Type Multi-Family

Sub Type Multi Family

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SR23048852

Sold Date 09/26/23

HOA Y/N No

Year Built 1983

Lot Size 0.493 Acres

Property Description

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

Location

State CA

County Los Angeles

Area Plm - Palmdale

Zoning R3

Interior

Heating Central

Cooling Central Air

Fireplace No

Laundry Common Area, Laundry Room

Exterior

Utilities Available Natural Gas Connected

Roof Type Composition

Building

Lot Description 0-1 Unit/Acre

Water Public

Others

Tax ID 3014028017

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Financing Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Mark Chappell • Keller Williams Realty Antelope Valley • 661-470-9432
Bought with Fabian Terracciano • Re/Max All-Pro
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