$2,175,000
$2,500,000
13.0%For more information regarding the value of a property, please contact us for a free consultation.
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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Bought with Fabian Terracciano • Re/Max All-Pro
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
880 Roosevelt Suite 250, Irvine, California, 92620, United States