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Chris Mardelli

chris@therealupside.com +1(310) 571-5761

$1,750,000

Est. payment - /mo

17 Beds

12 Baths

6,866 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,866 sqft

Price per Sqft $254

MLS Listing ID 26862043

Bedrooms 17

HOA Y/N No

Year Built 1979

Lot Size 0.644 Acres

Property Description

We are pleased to present 38110 10th St E, a 7-unit multifamily investment opportunity located in the growing Antelope Valley community of Palmdale, California. The property is offered at an attractive 7.24 GRM and 9.20% CAP Rate based on current rents upon full occupancy, providing investors with exceptional day-one cash flow. Constructed in 1979, the property features three separate residential buildings totaling approximately 6,866 rentable square feet. The unique unit mix consists of one (1) 7-bedroom/5-bathroom unit, one (1) 4-bedroom/2-bathroom unit, one (1) 2-bedroom/1-bathroom unit, and four (4) 1-bedroom/1-bathroom units, with one 1-bedroom/1-bathroom unit scheduled to be delivered vacant, providing an immediate opportunity to lease at market rent or occupy. Situated on an expansive 28,046 square foot PDR3-zoned lot, the property offers a rare combination of strong in-place income and long-term value-add potential. The oversized parcel provides ample excess land that may present the opportunity for Accessory Dwelling Units (ADUs) or additional site improvements (Buyer to independently verify development potential with the City of Palmdale). Existing parking is abundant and includes three separate carport structures providing 11 covered parking spaces, in addition to substantial on-site surface parking for residents and guests. The property is ideally located just two blocks east of Sierra Highway and only minutes from State Route 14, providing convenient access throughout the Antelope Valley as well as the greater Los Angeles region. Residents benefit from proximity to numerous employers, retail centers, schools, parks, and everyday amenities, including Palmdale Regional Medical Center, Lake Palmdale, Palmdale Regional Airport, Melville J. Courson Park, Desert Sands Park, and multiple neighborhood shopping centers. The surrounding area continues to experience steady residential growth, supporting long-term rental demand. With an attractive going-in yield, a vacant unit offering immediate upside, an oversized development-friendly lot, and a desirable location within one of Palmdale's established residential neighborhoods, 38110 10th St E presents investors with a compelling opportunity to acquire a high-yield multifamily asset with both stable cash flow and future value enhancement potential. Contact the listing broker for additional information.

Location

State CA

County Los Angeles

Area Plm - Palmdale

Zoning PDR3*

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features Detached Carport, Uncovered

Total Parking Spaces 11

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 3014002041

Special Listing Condition Standard

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Listed by Casey Lins Kidder Mathews of California, Inc. #01902650

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Chris Mardelli

Broker | License ID: 01834969

+1(310) 571-5761 | chris@therealupside.com

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38110 10th ST #E Palmdale, CA 93550

Chris Mardelli

Key Details

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38110 10th ST #E