NOT LISTED FOR SALE

440 E Ave Q-3 Out of Area, CA 93550

East Palmdale Neighborhood
-- Bed
-- Bath
-- Sq Ft
1982 Built

Last Sold October 29, 2021

Last sale price $1,180,000

35 Days on Market

About This Home

As of October 2021

Built in 1982, this 7-Unit multifamily walk-up has a unit mix that includes (1) one-bedroom, one-bath unit and (6) two-bedroom, one-bath units. One of the two-bedroom units is vacant, and can be rented at full market rent, allowing at least 30% upside in gross rent. Considering that this vacant unit could be leased at market rent, and with all units on a month-to-month basis, the current 14.6 GRM can be significantly decreased to a much more ''investor friendly'' 11.7 GRM. Market rents would be quickly achieved thru consistent permissible annual rent increases that would move in lockstep with the expected rise in inflation (CPI).

Last Agent to Sell the Property

Craig Lieberman

Apartment Investment Specialists License #00682741 Listed on: 06/22/2021

Apartment Investment Specialists

Last Buyer's Agent

Non Member Agent

Non Member Office

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1982

Parking

  • Carport

Utilities

  • Shared Gas Meter
  • Individual Gas Meter

Community Details

  • 7 Units
  • Gross Income $78,408

Listing and Financial Details

  • Assessor Parcel Number 3008014035

Property Details

Home Type

Multi-Family

Year Built

Built in 1982

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1982
  • Income Expenses Annual Income: 78408.0
  • Gross Rent Multiplier: 14.7
  • Monthly Income: 6534.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Property Information Year Built2: 1982
  • NeighborhoodSchools Elementary School: Other
  • NeighborhoodSchools Junior High School: Other
  • NeighborhoodSchools High School: Other
  • Parking Info Carport2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Garage/Parking

  • Parking Features: Carport

Schools

  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other

Lot Info

  • Parcel #: 3008014035
  • Zoning: Other

Multi Family

  • Number Of Units Total: 7
  • Annual Gross Income: 78408.0
  • Total Actual Rent: 6534.0

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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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 Change Sq Ft Price
10/29/2021 10/29/21 Sold $1,180,000 +2.6% --
07/27/2021 07/27/21 Pending -- -- --
06/22/2021 06/22/21 For Sale $1,150,000 -- --
Source: Santa Barbara Multiple Listing Service

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Craig Lieberman

    Seller's Agent in 2021

    Craig Lieberman

    Apartment Investment Specialists

    (805) 687-5557

    2 in this area

    24 Total Sales

    Craig Lieberman
    Section Image

  • N

    Buyer's Agent in 2021

    Non Member Agent

    Non Member Office

See All Agents

Map

Source: Santa Barbara Multiple Listing Service

MLS Number: 21-2319

Santa Barbara Multiple Listing Service

California Los Angeles County Palmdale 93550 East Palmdale

440 E Ave Q-3, Palmdale, CA

This home is located at 440 E Ave Q-3, Out of Area, CA 93550 since 22 June 2021. This property was built in 1982. 440 E Ave Q-3 is a home located in Los Angeles County with nearby schools including Yucca Elementary School, David G. Millen Intermediate, and Highland High School.

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