1140 E Avenue Q12

    Palmdale, CA 93550
    • $2,250,000
    • STATUS: Active
    • ON SITE: 17 days
    • ID#: 19505400
    UPDATED: 27 min ago
    $2,250,000
    • 28
      BEDS
    • 0.55
      ACRES
    • 28
      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 CARETS as of 2019-09-17T11:46:03.963. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.theparsonsrealestateteam.com/homes/98496657

    1140 E Avenue Q12 Palmdale, CA 93550

    • Price: $2,250,000
    • Status: Active
    • Updated: 27 min ago
    • ID#: 19505400
    28
    Beds
    28
    Baths
    0
    ½ Baths
    0.55
    Acres
    12,960
    SQFT
    $174
    $/SQFT
    1988
    Built
    Neighborhood:
    Palmdale (PLM)
    County:
    Los Angeles
    Area:
    Palmdale (PLM)
    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

    Parking Spaces Total 14 Parking Type Other

    Interior Features

    Cooling Type Other Heating Type Other Interior Features Other Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Partially Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 2.0 Unit Number Of Bath02 2.0 Unit Number Of Bath03 2.0 Unit Number Of Bed01 2 Unit Number Of Bed02 2 Unit Number Of Bed03 2

    Property Features

    Adjusted Gross Income 192844.00 Assessed Improvement Value 562990.00 Assessed Land Value 99351.00 Cap Rate 5.66 Country United States Of America Expense Total Annual 65391.00 Gross Operating Income 193860.00 Gross Rent Multiplier 11.61 Hoa YN N Legal Disclosures Other Lot Size Source Vendor Enhanced Net Operating Income 127453.00 Number Of Buildings 2 Special Conditions Standard Sale Square Footage Source Vendor Enhanced Unit Monthly Rent01 1077.00 Unit Monthly Rent02 1350.00 Unit Monthly Rent03 1342.00 Unit Projected Total Monthly Rent01 1350.00 Unit Projected Total Monthly Rent02 1350.00 Unit Projected Total Monthly Rent03 1450.00 Unit Total Monthly Rent01 1077.00 Unit Total Monthly Rent02 1350.00 Unit Total Monthly Rent03 1342.00 Unit Type01 10 Unit Type02 2 Unit Type03 2 Units Total In Complex 14 Zoning Pdr1*

    Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


    Based on information from CARETS as of 2019-09-17T11:46:03.963. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
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