38448 10th Place East

38448 10th Place East

Palmdale, CA 93550

$850,000
Price
5
Beds
3
Baths
2,680 Sq. Ft.
$317 / Sq. Ft.
2,680
Sq. Ft.
$317
per Sq. Ft.
a view of a terrace with a barbeque
a view of city
a vase of flower sitting on a sidewalk
a view of house with backyard
a front view of a house with a yard
a front view of a house
a view of a terrace with seating space
a view of a yard with cars
a view of a house with a outdoor space
a bathroom with a sink and a bathtub
an empty room with mirror and tiles
a kitchen with a cabinets and white appliances

Description

Excellent investment/development opportunity. This property consists of 3 detached houses on a street-to-street 1 acre lot, zoned ''Mixed Use 2 (MU2)'', which is a highly flexible zoning that allows for commercial and multifamily residential development. This property is also located within an opportunity zone, which may provide significant tax benefits. The 3 detached homes each have their own address. 38451 11th St E is a 1,400 sqft, 2 bed (plus a den) 1 bath home with a 2 car detached garage,...Excellent investment/development opportunity. This property consists of 3 detached houses on a street-to-street 1 acre lot, zoned ''Mixed Use 2 (MU2)'', which is a highly flexible zoning that allows for commercial and multifamily residential development. This property is also located within an opportunity zone, which may provide significant tax benefits. The 3 detached homes each have their own address. 38451 11th St E is a 1,400 sqft, 2 bed (plus a den) 1 bath home with a 2 car detached garage, currently rented at $1,663/month. 38456 10th Pl E is a 2 bed, 1 bath home, currently rented at $1,995. This unit was rehabbed/remodeled 1 year ago, and it recently received new windows. 38448 10th Pl E is a 1 bed, 1 bath home, currently rented at $924. This unit also recently received new windows. All 3 tenants are on month-to-month leases. This arrangement presents an excellent opportunity for investors with a variety of potential strategies. At the moment, the units produce good monthly cash flow. This cash flow can be increased by raising the rents over time or replacing the existing tenants. The detached garage can potentially be converted to an ADU for additional income. There is ample unused land on this property, which could allow for the construction of additional detached or attached units, while preserving the existing units. Finally, the existing units can be demolished, and a new multifamily and/or commercial project can be constructed. A developer could potentially build an affordable housing community, leverage special affordable housing financing, and stack LIHTC tax credits and opportunity zone tax benefits. In the meantime, while waiting for the project to be approved, the developer can collect rent from the existing tenants and avoid having ''dead money'' tied up in a vacant lot. This property is a great situation, as it sits on an acre of prime land, while also kicking off monthly income. This is a rare combination and an excellent opportunity.
  1. Listed by Mark Mestepey • DRE #01991537 • Castlestone Properties, Inc.

Property Details for 38448 10th Place East

Area
Palmdale (PLM)
Zoning
PDR3*
Garage Spaces
2
Cross Street
Palmdale Blvd/11th St E

Location

Listing Courtesy of Castlestone Properties, Inc., Mark Mestepey, DRE #01991537
Add your commute
LISTING UPDATED: 04/27/2024 02:05 AM

Property Details for 38448 10th Place East

StatusActive
MLS #24001438
Days on Market67
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1949
Lot Size1.01 AC / 43,995 SF
CountyLos Angeles County

Location

Listing Courtesy of Castlestone Properties, Inc., Mark Mestepey, DRE #01991537
Add your commute

Building Information for 38448 10th Place East

Stories-Residences-Year Built1949Building Size-Lot Size1.01 AC / 43,995 SF

Payment Calculator

$4,668 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,639

Property Taxes

$29

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 38448 10th Place East

Summary
Location and General Information
  • Directions to Property: 38451 is accessed off 11th St E. 38448 and 38456 are accessed off 10th Pl E.
  • Absolute Longitude: 118
Property
Lot Information
  • SqFt Source: Assessor
Property and Assessments
  • APN: 3015-005-037
  • Approx Age of Roof: 0
Utilities
  • Water: Public
  • Water - Individual: Paid by Tenant
  • Water - Primary: No Master
  • Water Heater - Individual: Paid by Tenant
  • Water Heater - Primary: No Master
  • Electric - Individual: Paid by Tenant
  • Electric - Primary: No Master
  • Gas - Individual: Paid by Tenant
  • Gas - Primary: No Master
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Construction: Frame
  • Pool: N/K
  • Roof: Composition
Interior Features
  • Cooling Type: Central Air/Evap
  • Heating Types: Wall Furnace
Multi Family
Multi-Family Information
  • # of Units: 3
  • # 1 Bedroom Units: 1.00
  • # 2 Bedroom Units: 2.00
  • Gross Rent Multi family (GRM): 15.46
Unit 1 Information
  • Unit No: 38451
  • Bedrooms: 2
  • Bathrooms: 1
  • Rent: 1663
  • Parking: 2
  • Lease: M2M
  • Stories: 1
  • Unit No: 38451
  • Bedrooms: 2
  • Bathrooms: 1
  • Rent: 1663
  • Parking: 2
  • Lease: M2M
  • Stories: 1
  • Standard Rent: $1,663.00
  • Standard Baths: 1
  • Standard Beds: 2
Unit 2 Information
  • Unit No: 38456
  • Bedrooms: 2
  • Bathrooms: 1
  • Rent: 1995
  • Parking: 0
  • Lease: M2M
  • Stories: 1
  • Unit No: 38456
  • Bedrooms: 2
  • Bathrooms: 1
  • Rent: 1995
  • Parking: 0
  • Lease: M2M
  • Stories: 1
  • Standard Rent: $1,995.00
  • Standard Baths: 1
  • Standard Beds: 2
Unit 3 Information
  • Unit No: 38448
  • Bedrooms: 1
  • Bathrooms: 1
  • Rent: 924
  • Parking: 0
  • Lease: M2M
  • Stories: 1
  • Unit No: 38448
  • Bedrooms: 1
  • Bathrooms: 1
  • Rent: 924
  • Parking: 0
  • Lease: M2M
  • Stories: 1
  • Standard Rent: $924.00
  • Standard Baths: 1
  • Standard Beds: 1
Rental
Rental Information
  • Terms: Cash, Conventional, Exchange

Property History for 38448 10th Place East

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 38448 10th Place East

Taxable ValueLand$15,009Additions-Total$15,009
Tax Record2023$349 ($29 / month)
Home Facts
Beds0Lot Size29,450 SqFtStyleResidentialZoningLCRA30000*CountyLOS ANGELESAPN3071-024-007

Schools near 38448 10th Place East

This home is within Antelope Valley Union High School District.
Rating
School
Type
Grades
Distance
Tamarisk
Public - K to 5
David G. Millen Intermediate
Public - 6 to 8
Palmdale High School
Public - 9 to 12
R. Rex Parris High School
Public - 9 to 12
Rating
School
Distance
Tamarisk
PublicK to 5

David G. Millen Intermediate
Public6 to 8

Palmdale High School
Public9 to 12

R. Rex Parris High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 38448 10th Place East, Palmdale, CA 93550

38448 10th Place East is a multi-family home for sale in Palmdale, CA 93550. This property was listed for sale on February 26, 2024 by Castlestone Properties, Inc., it's currently listed at $850,000. It has been on the market for a total of 67 days and was last sold on June 10, 2019. This listing's school districts are Antelope Valley Union High School District, Palmdale Elementary School District. Nearby schools include Tamarisk, David G. Millen Intermediate and Palmdale High School. 38448 10th Place East is a 5-bed, 3-bath, 2,680 sqft multi-family home built in 1949.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Castlestone Properties, Inc., Mark Mestepey, DRE #01991537

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.