Seller's Agent in 2013
Todd Rubinstein
Rubinstein Group
(818) 593-3800
38128 10th St E Palmdale, CA 93550
East Palmdale Neighborhood
7
Beds
5
Baths
7,332
Sq Ft
0.93
Acres
Highlights
- 0.93 Acre Lot
- Evaporated cooling system
- 1-Story Property
- No HOA
- Wall Furnace
- 5-minute walk to Melville J. Courson Park
About This Home
As of September 2013*** SOLD BEFORE PROCESSING *** Great investment opportunity to acquire a stabilized multi-family asset close to Palmdale City Hall in a good location. The site consists of three buildings on just under an acre of land. There 10 apartments in two buildings made up of 2BR and 1BR apts. The third building and 11th unit is a 3BR 2BA house (SFR) in approx 1150sf at the very front of the property. The entire property has been rehabbed in certain parts, stabilized, and nearly leased up. The property leases up very easily and sometimes with no advertising. Close to good schools. This investment will generate double digit yields with cash or financing. Where can you step into a ready made cash flow situation. Plus, the lot size is nearly an acre for a potential development opportunity in the future as it is zoned R3. Seller might even entertain a carry back or a partial seller financing opportunity depending on the offer. There is an unpermitted 12th unit that is not considered in the analysis herein.
Last Agent to Sell the Property
Rubinstein Group License #01220146 Listed on: 07/25/2012
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1968
Lot Details
- 0.93 Acre Lot
- Lot Dimensions are 141' x 287'
- Two or More Common Walls
- Density is 36-40 Units/Acre
Parking
- 3 Car Garage
- 8 Carport Spaces
- Parking Available
- Unassigned Parking
Home Design
- Property Attached
Interior Spaces
- 7,332 Sq Ft Home
- 1-Story Property
- Leased Washer and Dryer
Bedrooms and Bathrooms
- 7 Bedrooms
- 5 Bathrooms
Location
- Suburban Location
Utilities
- Evaporated cooling system
- Wall Furnace
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 25
- Assessor Parcel Number 3014002026
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 11 Units
Building Details
- 10 Leased Units
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- Electric Expense $895
- Gardener Expense $1,200
- Insurance Expense $2,650
- Maintenance Expense $2,562
- Trash Expense $3,540
- Water Sewer Expense $2,450
- New Taxes Expense $9,882
- Gross Income $7,105
- Net Operating Income $56,343
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/20/2013 09/20/13 | Sold | $619,000 | -4.6% | $84 / Sq Ft |
| 07/31/2013 07/31/13 | Pending | -- | -- | -- |
| 07/25/2012 07/25/12 | For Sale | $649,000 | -- | $89 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 |
|---|---|---|---|---|
| 2025 | $15,640 | $840,229 | $126,137 | $714,092 |
| 2024 | $15,640 | $823,755 | $123,664 | $700,091 |
| 2023 | $15,516 | $807,604 | $121,240 | $686,364 |
| 2022 | $14,975 | $791,769 | $118,863 | $672,906 |
| 2021 | $14,617 | $776,245 | $116,533 | $659,712 |
| 2020 | $13,543 | $698,777 | $104,240 | $594,537 |
| 2019 | $13,405 | $685,174 | $102,197 | $582,977 |
| 2018 | $13,231 | $671,838 | $100,194 | $571,644 |
| 2016 | $12,360 | $640,994 | $96,304 | $544,690 |
| 2015 | $12,230 | $631,367 | $94,858 | $536,509 |
| 2014 | -- | $619,000 | $93,000 | $526,000 |
Source: Public Records
Agents Affiliated with this Home
-
Todd Rubinstein
-
Susan Aragon
Buyer's Agent in 2013
Susan Aragon
High Ten Partners, Inc.
(626) 437-9975
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR13210436
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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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