Homes for sale - 38533 11th ST E, Palmdale, CA 93550

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 864 sqft

Price per Sqft $462

MLS Listing ID SR25021804

Bedrooms 2

Full Baths 1

HOA Y/N No

Year Built 1948

Lot Size 0.508 Acres

Property Description

Excellent investment/development opportunity at a very attractive price. Currently one of the lowest-priced single-family homes in Palmdale. This property sits on a half-acre, street-to-street lot with Palmdale's highest density RN4 zoning, which allows for 30-50 units per acre. Thus, this property could allow for 15-25 units on its half-acre lot. Currently, there is a single-family home on the lot. It is being rented for $1,550 per month to a longtime tenant. These tenants would like to stay long term, if possible. This property presents investors with a variety of potential strategies. The property currently produces good cash flow. This cash flow can be increased by raising the rent on the current tenants. Owing to California's new legislation regarding ADU's on multi-family zoned properties, multiple ADU's could be built on the excess land while retaining the original house. With its street-to-street lot, access to the rear ADU's would be easy on this property. Finally, the existing house could be demolished and a new 15-25 unit apartment building could be built. Additional density may be had through affordable housing exemptions, LIHTC financing and tax credits may be available, and this property is also in an opportunity zone for additional potential benefits. While waiting for a new project to be approved, rent can continue to be collected from the tenants to avoid having ''dead money'' tied up in a vacant land parcel. Lastly, this property is also priced at a level where it could be rehabbed and flipped. There are numerous potential strategies here for a wide variety of investors. All utilities, including sewer, are connected. Sitting on prime multi-family land in the heart of Palmdale, this property's development potential is immense. Don't miss out!

Location

State CA

County Los Angeles

Area Plm - Palmdale

Zoning PDR3*

Rooms

Main Level Bedrooms 2

Interior

Cooling Evaporative Cooling

Fireplaces Type None

Fireplace No

Laundry None

Exterior

Pool None

Community Features Suburban

View Y/N No

View None

Private Pool No

Building

Lot Description Lot Over 40000 Sqft

Dwelling Type House

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Schools

School District Antelope Valley Union

Others

Senior Community No

Tax ID 3015002025

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard