440 E Avenue q3 Palmdale, CA 93550

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.