$780,000
SOLD JUN 16, 2025

38564 5th St E Palmdale, CA 93550

East Palmdale Neighborhood
4 Beds
5 Baths
3,912 Sq Ft
7,462 Sq Ft Lot

Recently Sold

$199 Per Sq Ft

9% Below List Price

151 Days on Market

Highlights

  • Gated Community
  • Mountain View
  • Main Floor Bedroom
  • Open Floorplan
  • Contemporary Architecture
  • Corner Lot

About This Home

As of June 2025

Discover this exceptional 5-unit corner lot apartment complex, a true pride of ownership. The property boasts a fully gated premises, energy-efficient windows, and drought-tolerant landscaping. Each 1-bedroom unit has been thoughtfully renovated and includes detached garages. Located in a residential area, this complex offers easy access to grocery stores, retail shopping centers, Palmdale Transit Village, and Palmdale Regional Medical Center. Each unit features open and spacious floorplans with ample storage, updated appliances, and modern fixtures. Don’t miss this opportunity to own a well-maintained, income-producing property in a highly desirable location!

Last Agent to Sell the Property

Arturo Sequeira

Skycastle Properties Brokerage Phone: 661-312-9877 License #01429872 Listed on: 12/27/2024

Last Buyer's Agent

Scharme Grider

Equity Union License #02065869

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1983 | Remodeled

Lot Details

  • 7,462 Sq Ft Lot
  • No Common Walls
  • Security Fence
  • Wrought Iron Fence
  • Privacy Fence
  • Stucco Fence
  • Fence is in excellent condition
  • Corner Lot

Parking

  • 4 Car Garage
  • 2 Open Parking Spaces
  • Parking Available
  • Two Garage Doors
  • Assigned Parking

Home Design

  • Contemporary Architecture
  • Entry on the 1st floor
  • Turnkey
  • Slab Foundation
  • Shingle Roof
  • Composition Roof
  • Copper Plumbing
  • Stucco

Interior Spaces

  • 3,912 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Double Pane Windows
  • Panel Doors
  • Mountain Views

Kitchen

  • Gas Oven
  • Gas Range
  • Free-Standing Range
  • Microwave
  • Dishwasher
  • Granite Countertops

Flooring

  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Main Floor Bedroom
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Security Lights
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Suburban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Standard Electricity

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 241
  • Tax Tract Number 14561
  • Assessor Parcel Number 3008013039

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Building Details

  • 3 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $396
  • Insurance Expense $5,000
  • Maintenance Expense $5,284
  • Pest Control $500
  • Supplies Expense $250
  • Trash Expense $2,600
  • Water Sewer Expense $935
  • New Taxes Expense $11,562
  • Operating Expense $26,576
  • Gross Income $75,696
  • Net Operating Income $52,119

Additional Features

  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1983 | Remodeled

Lot Details

0

Parking

4

Listing Details

  • Assessments: No
  • CapRate: 6.06
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved, Privately Maintained
  • Security: Carbon Monoxide Detector(s), Gated Community, Security Lights, Smoke Detector(s)
  • Supplies Expense: 250.00
  • View: Yes
  • Water Sewer Expenses: 935.00
  • Zoning: PDR3*
  • Architectural Style: Contemporary
  • Property Condition: Turnkey, Updated/Remodeled
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 3008013039
  • Year Built: 1983
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Full, Granite Counters, Open Floorplan
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Laminate, Tile
  • Appliances: Yes
  • Door Features: Panel Doors
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 199.39
  • Room Type: Kitchen, Main Floor Bedroom
  • Window Features: Double Pane Windows

Exterior Features

  • Foundation: Slab
  • View: Mountain(s)
  • Fence: Yes
  • Fencing: Excellent Condition, Privacy, Security, Stucco Wall, Wrought Iron
  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Garage, Garage - Two Door
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Free-Standing Range, Gas Oven, Gas Range, Microwave
  • Electric: Standard
  • Heating Type: Central
  • Laundry Features: Community
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 2600.00
  • Water Source: Public
  • Cooling: Central Air, Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 7462.00
  • Lot Size Acres: 0.1713

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 878 Square Feet
  • Average Studio Area: 400 Square Feet
  • Electric Expense: 396.00
  • Gross Income: 75696.00
  • Gross Multiplier: 11.36
  • Gross Operating Income: 75696.00
  • Gross Scheduled Income: 79680.00
  • Insurance Expense: 5000.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 7462.0000 Square Feet
  • Maintenance Expense: 5284.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 52119.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 5
  • Number With Dishwasher: 5
  • Number With Disposal: 5
  • Number With Range: 5
  • Operating Expense: 26576.00
  • Operating Expense Percent: 33.00
  • Rent Control: Yes
  • Total Actual Rent: 65056.00
  • Total Expenses: 26576.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 11562.00
  • Tax Census Tract: 9104.05
  • Tax Lot: 241
  • Tax Tract Number: 14561

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/16/2025 06/16/25 Sold $780,000 -7.1% $199 / Sq Ft
05/27/2025 05/27/25 Pending -- -- --
05/11/2025 05/11/25 Price Changed $839,999 -2.3% $215 / Sq Ft
12/27/2024 12/27/24 For Sale $860,000 +79.2% $220 / Sq Ft
07/26/2017 07/26/17 Sold $480,000 -4.0% $123 / Sq Ft View Prior Sale
12/20/2016 12/20/16 Pending -- -- --
11/30/2016 11/30/16 For Sale $500,000 +56.3% $128 / Sq Ft
07/17/2015 07/17/15 Sold $320,000 -10.9% $82 / Sq Ft View Prior Sale
07/10/2015 07/10/15 Pending -- -- --
02/21/2015 02/21/15 For Sale $359,000 -- $92 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Arturo Sequeira

    Seller's Agent in 2025

    Arturo Sequeira

    Skycastle Properties

    (661) 312-9877

    3 in this area

    10 Total Sales

    Arturo Sequeira
    Section Image

  • S

    Buyer's Agent in 2025

    Scharme Grider

    Equity Union

    (661) 678-5417

    1 in this area

    31 Total Sales

    Scharme Grider
    Section Image
  • Jessica Lane

    Buyer Co-Listing Agent in 2025

    Jessica Lane

    Equity Union

    (661) 860-0019

    2 in this area

    63 Total Sales

    Jessica Lane
    Section Image
  • Kristine Halajyan

    Seller's Agent in 2017

    Kristine Halajyan

    eXp Realty of California Inc

    (661) 361-5314

    3 Total Sales

    Kristine Halajyan
    Section Image
  • Harvey Holloway

    Seller's Agent in 2015

    Harvey Holloway

    Coldwell Banker Commercial/Valley Realty

    (661) 948-2462

    12 in this area

    42 Total Sales

    Harvey Holloway
    Section Image

  • S

    Seller Co-Listing Agent in 2015

    Seffi Toneman

    Coldwell Banker Commercial/Valley Realty

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR24254504

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Palmdale 93550 East Palmdale

38564 5th St E, Palmdale, CA

Sold

MultiFamily

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