1218 E Ave Q, Palmdale, CA 93550
- $7,200,000
- 48
- BD
- 24
- BA
- 23,230
- SqFt
- List Price
- $7,200,000
- Status
- ACTIVE
- Days on Market
- 144
- MLS#
- 26003423
- Subtype
- Residential Income
- Year Built
- 1986
- Bedrooms
- 48
- Bathrooms
- 24
- Living Area
- 23,230
- Lot Size
- 52,838
- Acres
- 1.21
- Neighborhood
- 09 - Palm Div to 80th E
- MLS Area Major
- 09 - Palm Div to 80th E
Property Description
Rare High-Upside Value-Add Opportunity! 24-Unit Apartment Complex with 6 VACANT Units Ready for Immediate Lease-Up. All Units have been Upgraded. Perfect for an Investor Looking to Capture Instant Equity and Rapidly Increase Cash Flow. Strong 2 Bed and 1 Bath Unit with High Rental Demand. Significant Upside Through Leasing Vacant Units at Market Rents and Repositioning Remaining Units. Existing Ownership Pays Water and Trash Clear Path to Improving NOI Through Expense Pass-Throughs. Additional Income Potential from On-Site Laundry. Property Offers Carport Parking and Private Balconies on Upstairs Units, Enhancing Tenant Appeal and Rent Premiums. Ideal for Experienced Investor Seeking a Heavy Value-Add or Stabilization Play with Major Income Growth Potential. Sold As-Is. Buyer to Verify all Information. Do Not Disturb Tenants.
Additional Information
- Zoning
- PDR3*
- Heating
- Central
- Air Conditioning
- Central Air
- Roof
- Tile/Clay
Mortgage Calculator
Listing courtesy of Listing Agent: Christie M Limpus (christierealtor67@gmail.com) from Listing Office: Berkshire Hathaway HomeServices Troth, REALTORS.