NOT LISTED FOR SALE

440 E Avenue q3 Palmdale, CA 93550

East Palmdale Neighborhood
13 Beds
7 Baths
6,125 Sq Ft
9,583 Sq Ft Lot

Last Sold October 28, 2021

Last sale price $1,180,000 $193 Per Sq Ft

26 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 allunits 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 theexpected rise in inflation (CPI).The building comprises approximately 6,125 square feet of rent able space. There are two''tuck-under'' parking spaces, four carport parking spaces, two open tenant parking spaces, and two open guest parking spaces. Each unit is separately metered for gas & electric, plus evaporator coolers and wall furnaces as heating system.

Last Agent to Sell the Property

Patrice Howard

1st Property Real Estate Inc License #01086726 Listed on: 06/22/2021

Last Buyer's Agent

Unknown Member

NON-MEMBER OFFICE

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1982

Lot Details

  • 9,583 Sq Ft Lot

Home Design

  • 6,125 Sq Ft Home
  • Composition Roof
  • Stucco

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 7 Bathrooms

Utilities

  • Central Air
  • Wall Furnace

Community Details

  • 7 Units

Listing and Financial Details

  • Assessor Parcel Number 3008-014-035

Property Details

Home Type

Multi-Family

Year Built

Built in 1982

Lot Details

0

Listing Details

  • Annual Insurance Expense: 2500.00
  • Capital Rate: 3.56
  • House Faces: E
  • Directions To Property: 14FWY to Palmdale Blvd. (R) to 6th St E(L) to Ave Q3(L) to property.
  • Listing Member Name: Patrice L Howard
  • Lot Measurement: SqFt
  • Prop. Type: E
  • Sp Percent Lp: 1.03
  • Square Footage: 6125.00
  • Year Built: 1982
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Price Per Unit: 164285.71
  • Total Bathrooms: 7.00

Exterior Features

  • Exterior Construction: Stucco
  • Roof: Composition

Utilities

  • Cooling Type: Central Air/Evap
  • HeatingTypes: Wall Furnace

Condo/Co-op/Association

  • Units in Building: 7

Lot Info

  • Lot Acres: 0.22
  • Zoning: PDR3

Rental Info

  • Pet Deposit: 35,000

Tax Info

  • Assessor Parcel Number: 3008-014-035

Multi Family

  • Number1 Bedroom Units: 1.00
  • Number2 Bedroom Units: 6.00

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 List to Sale Price per Sq Ft
10/28/2021 10/28/21 Sold $1,180,000 +2.6% $193 / Sq Ft
07/18/2021 07/18/21 Pending -- -- --
06/22/2021 06/22/21 For Sale $1,150,000 -- $188 / Sq Ft
Source: Greater Antelope Valley Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Patrice Howard

    Seller's Agent in 2021

    Patrice Howard

    1st Property Real Estate Inc

    (661) 406-7635

    10 in this area

    67 Total Sales

    Patrice Howard
    Section Image

  • U

    Buyer's Agent in 2021

    Unknown Member

    NON-MEMBER OFFICE

See All Agents

Map

Source: Greater Antelope Valley Association of REALTORS®

MLS Number: 21005529

Greater Antelope Valley Association of REALTORS®
California Los Angeles County Palmdale 93550 East Palmdale

440 E Avenue q3, Palmdale, CA

Not Listed for Sale

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