1140 E Avenue Q12

    Palmdale, CA 93550
    • $2,250,000
    • STATUS: Active
    • ON SITE: 17 days
    • ID#: 19505400
    UPDATED: 52 min ago
    $2,250,000
    • 0
      BEDS
    • 0.55
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,960
      SQFT
    • $174
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1988
    County:

    School Ratings & Info

    Description

    We are proud to present 14 units located at 1140 E Avenue Q12 in Palmdale, California. The property sits on 23,922 SF lot with 12,960 SF of rentable area and is comprised of an excellent mix of 14 spacious two bedroom / two bathroom units. The property has been extensively renovated and features on-site gated parking, balconies, fireplaces, new A/C units and additional income from the property owned coin laundry room.A high CAP rate deal, with approximately 20% upside in rents, this offering is a rare opportunity for an investor to buy a turn-key property in an up and coming Palmdale location. With the great income the property brings in, an investor would only need an estimated 25% down payment ($562,500) in order to get a fully amortized loan with a 3.85% interest rate. Utilizing this loan quote, an investor can expect a cash-on-cash return of 5.78% and after principle reduction, a total return of 11.20%.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-17T18:35:48.673. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/98499006

    1140 E Avenue Q12 Palmdale, CA 93550

    • Price: $2,250,000
    • Status: Active
    • Updated: 52 min ago
    • ID#: 19505400
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.55
    Acres
    12,960
    SQFT
    $174
    $/SQFT
    1988
    Built
    Neighborhood:
    PLM - Palmdale
    County:
    Los Angeles
    Area:
    PLM - Palmdale
    Property Description
    We are proud to present 14 units located at 1140 E Avenue Q12 in Palmdale, California. The property sits on 23,922 SF lot with 12,960 SF of rentable area and is comprised of an excellent mix of 14 spacious two bedroom / two bathroom units. The property has been extensively renovated and features on-site gated parking, balconies, fireplaces, new A/C units and additional income from the property owned coin laundry room.A high CAP rate deal, with approximately 20% upside in rents, this offering is a rare opportunity for an investor to buy a turn-key property in an up and coming Palmdale location. With the great income the property brings in, an investor would only need an estimated 25% down payment ($562,500) in order to get a fully amortized loan with a 3.85% interest rate. Utilizing this loan quote, an investor can expect a cash-on-cash return of 5.78% and after principle reduction, a total return of 11.20%.
    Exterior Features

    Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Association Amenities Other Association YN Yes Cap Rate 5.66 Gross Multiplier 11.61 Gross Operating Income 193860.00 Improvements Amount 562990 Land Value 99351 Laundry YN Yes Net Operating Income 127453.00 Special Listing Conditions Standard Total Expenses 65391.00 Zoning Pdr1*

    Listing provided courtesy of Filip Niculete of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-17T18:35:48.673. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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    Temecula CA, 92592