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    38707 12th Street E

    Palmdale, CA 93550
    • $5,750,000
    • STATUS: Active Under Contract
    • ON SITE: 12 days
    • ID#: SR20190923
    Under Contract
    UPDATED: 22 min ago
    $5,750,000
    • 0
      BEDS
    • 1.95
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 42,120
      SQFT
    • $137
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1984
    County:

    School Ratings & Info

    Description

    This is a 38 unit complex (19 on each side) that is fully gated, two pools, security cameras with remote access, and the majority of units have been fully remodeled! One side comes with garages, while the other side has carports. Both structures have new roofs! Property is xeriscaped, and the shrubs and trees are on timers, so easy maintenance. There are two APN's and Addresses for this sale. APN 3015-006-015 and 3015-006-098. The two addresses are 38707 and 38675 12th st. Currently shows a 5.8 CAP, but once the rest of the leases renew at the market rate, you should be at a 6.5! Great opportunity! Currently we have zero vacancies with a waiting list. Rehabs included new flooring, new paint, new Granite Counters and stainless sinks, built-in USB phone charger in the kitchen, plus much more! About 80% of all the units have new HVAC units, hot water heaters, etc. Please call Listing Agent for any questions. Please, do not disturb tenants.

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    Based on information from CRISNet MLS as of 2020-09-26T20:56:13.963. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, 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 the CSMAR MLS. 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.

    Based on information from the i-Tech MLS as of 2020-09-26T20:56:13.963. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/109982065
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    38707 12th Street E Palmdale, CA 93550

    • Price: $5,750,000
    • Status: Active Under Contract
    • Updated: 22 min ago
    • ID#: SR20190923
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.95
    Acres
    42,120
    SQFT
    $137
    $/SQFT
    1984
    Built
    Neighborhood:
    Plm - Palmdale
    County:
    Los Angeles
    Area:
    Plm - Palmdale
    Property Description
    This is a 38 unit complex (19 on each side) that is fully gated, two pools, security cameras with remote access, and the majority of units have been fully remodeled! One side comes with garages, while the other side has carports. Both structures have new roofs! Property is xeriscaped, and the shrubs and trees are on timers, so easy maintenance. There are two APN's and Addresses for this sale. APN 3015-006-015 and 3015-006-098. The two addresses are 38707 and 38675 12th st. Currently shows a 5.8 CAP, but once the rest of the leases renew at the market rate, you should be at a 6.5! Great opportunity! Currently we have zero vacancies with a waiting list. Rehabs included new flooring, new paint, new Granite Counters and stainless sinks, built-in USB phone charger in the kitchen, plus much more! About 80% of all the units have new HVAC units, hot water heaters, etc. Please call Listing Agent for any questions. Please, do not disturb tenants.
    Exterior Features

    Carport Spaces 19.00 Construction Materials Stucco Fence YN Yes Fencing Block Foundation Details Slab Levels Two Lot Features Level With StreetRectangular LotNear Public TransitSprinkler System Lot Size Area 85155.0000 Parking Features AssignedAuto Driveway GateDetached CarportGarageGatedOther Parking Total 69.00 Parking YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Common RoofCompositionFlatOther Uncovered Spaces 31.00

    Interior Features

    Appliances Free-Standing RangeDisposalRange Hood Appliances YN Yes Common Walls 2+ Common WallsNo One AboveNo One Below Cooling Central Air Cooling YN Yes Fireplace Features Family Room Fireplace YN Yes Flooring CarpetLaminateTile Heating Central Heating YN Yes Interior Features Granite Counters Laundry Features Community Laundry YN Yes Room Type All Bedrooms UpMain Floor Bedroom

    Property Features

    Additional Parcels Description 3015-006-015 Additional Parcels YN Yes Community Features CurbsSidewalksStreet LightsSuburban Electric Expense 5540.00 Fuel Expense 2175.00 Gardener Expense 3000.00 Gross Income 562281.00 Gross Multiplier 10.23 Gross Scheduled Income 562281.00 Insurance Expense 20000.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 4509.00 Maintenance Expense 24000.00 Net Operating Income 334953.00 New Construction YN No New Taxes Expense 88939.00 Number Of Separate Electric Meters 38 Number Of Separate Gas Meters 38 Number Of Separate Water Meters 0 Number Of Units Leased 38 Operating Expense 199214.00 Pest Control Expense 3000.00 Pool Expense 9000.00 Pool Features CommunityGuniteIn Ground Pool Private YN No Professional Management Expense 1054.00 Property Attached YN Yes Rent Control YN Yes Security Features Automatic GateCarbon Monoxide Detector(S)Gated CommunityResident ManagerSecurity LightsSecurity SystemSmoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Expenses 177947.00 Trash Expense 21150.00 Water Sewer Expense 13000.00 Water Source Public Zoning Pdr3*

    Listing provided courtesy of George Wessel, CA DRE# 01384279, of Allen Wessel Real Estate Inc.


    Based on information from CRISNet MLS as of 2020-09-26T20:56:13.963. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, 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 the CSMAR MLS. 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.

    Based on information from the i-Tech MLS as of 2020-09-26T20:56:13.963. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    27720 Dickason Drive
    Valencia CA, 91355