2554 Olive Dr Unit 87 Palmdale, CA 93550
East Palmdale NeighborhoodEstimated payment $2,104/month
Total Views
1,301
2
Beds
2
Baths
853
Sq Ft
$340
Price per Sq Ft
Highlights
- Spa
- Clubhouse
- Security Service
- 4.83 Acre Lot
- Living Room
- Controlled Access
About This Home
Turnkey investment opportunity! This 2+2 condo in the gated Monte Vista HOA is currently rented to a Section 8 tenant at $2,058 per month. The tenant moved into the unit in October 2024 and is current on the rent. The unit was thoroughly updated in 2021 with new kitchen cabinets, quartz counters, LVP flooring, stainless appliances (including refrigerator and washer/dryer machines), and more. The unit was also re-painted in 2024, new carpeting was installed, and other repairs were made. This provides a great opportunity for an investor to purchase a rental with the tenant already in place at market value, and with a large percentage of the rent being covered by the Housing Authority (tenant's portion is currently $130). This condo is on the ground floor and has a nice floorplan. Both bedrooms have an en-suite bathroom, the living room is spacious, and there's a large patio area off the living room. The Monte Vista condo community is gated and well-managed, with amenities such as community pools, clubhouse, and on-site security. The HOA provides water and trash service, as well. This condo is well-suited to an investor looking for a nicely updated rental that provides immediate cash-flow at a low price, without having to hassle with move-in repairs or the leasing process. Don't miss out!
Listing Agent
Castlestone Properties, Inc. Brokerage Phone: 818-624-0099 License #01991537 Listed on: 01/29/2025
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $1,671
Year Built
- Built in 1986
HOA Fees
- $360 Monthly HOA Fees
Interior Spaces
- 853 Sq Ft Home
- 1-Story Property
- Living Room
- Laundry Room
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 2 Full Bathrooms
Additional Features
- Spa
- Two or More Common Walls
- Suburban Location
- Central Heating and Cooling System
Listing and Financial Details
- Tax Lot 2
- Tax Tract Number 44050
- Assessor Parcel Number 3053052438
Community Details
Overview
- Master Insurance
- 200 Units
- Monte Vista Association, Phone Number (661) 257-1570
- Bartlein HOA
- Maintained Community
Amenities
- Clubhouse
Recreation
- Community Pool
- Community Spa
Security
- Security Service
- Controlled Access
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,671 | $66,556 | $27,876 | $38,680 |
| 2023 | $1,671 | $65,252 | $27,330 | $37,922 |
| 2022 | $1,614 | $63,974 | $26,795 | $37,179 |
| 2021 | $1,577 | $62,720 | $26,270 | $36,450 |
| 2020 | $1,547 | $62,078 | $26,001 | $36,077 |
| 2019 | $1,534 | $60,862 | $25,492 | $35,370 |
| 2018 | $1,515 | $59,670 | $24,993 | $34,677 |
| 2016 | $1,438 | $57,355 | $24,023 | $33,332 |
| 2015 | $1,425 | $56,495 | $23,663 | $32,832 |
| 2014 | $1,420 | $55,389 | $23,200 | $32,189 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/16/2025 07/16/25 | Price Changed | $289,900 | 0.0% | $340 / Sq Ft |
| 07/16/2025 07/16/25 | For Sale | $289,900 | +5.5% | $340 / Sq Ft |
| 02/05/2025 02/05/25 | Off Market | $274,900 | -- | -- |
| 01/29/2025 01/29/25 | For Sale | $274,900 | -- | $322 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Trustee Deed | $32,729 | None Available | |
| Interfamily Deed Transfer | -- | -- | |
| Grant Deed | $143,000 | Fidelity National Title Co | |
| Grant Deed | $95,000 | Fatcola |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $114,400 | Purchase Money Mortgage | |
| Previous Owner | $71,250 | Purchase Money Mortgage | |
| Closed | $21,450 | No Value Available |
Source: Public Records
Similar Homes in Palmdale, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR25021744
APN: 3053-052-438
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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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