38225 12th St E, Palmdale, CA 93550

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