Queens 12 547 E Avenue Q12
8 Unit Apartment Building $2,400,000 ($300,000/Unit) 7.70% Cap Rate Palmdale, CA 93550
INVESTMENT HIGHLIGHTS
- All Town Home Units
- Rents paid by HAP Contract
- Laudry On Site
EXECUTIVE SUMMARY
This 8-unit apartment building features a diverse unit mix, comprising:
- 4 units of 3-bedroom, 2-bathroom townhomes
- 4 units of 4-bedroom, 2-bathroom townhomes
**Key Highlights:**
- **Affordable Housing:** The property is designated as affordable housing under a Housing Assistance Payments (HAP) contract. The Contract expires in 2043.
- **Investment Opportunity:** Currently selling at an actual 7.70% capitalization rate (CAP) based on current rental income.
- 4 units of 3-bedroom, 2-bathroom townhomes
- 4 units of 4-bedroom, 2-bathroom townhomes
**Key Highlights:**
- **Affordable Housing:** The property is designated as affordable housing under a Housing Assistance Payments (HAP) contract. The Contract expires in 2043.
- **Investment Opportunity:** Currently selling at an actual 7.70% capitalization rate (CAP) based on current rental income.
DATA ROOM Click Here to Access
- Market Information
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$230,784
|
$25.11
|
| Other Income |
$26,400
|
$2.87
|
| Vacancy Loss |
$6,924
|
$0.75
|
| Effective Gross Income |
$250,260
|
$27.23
|
| Taxes |
$30,000
|
$3.26
|
| Operating Expenses |
$36,544
|
$3.98
|
| Total Expenses |
$66,544
|
$7.24
|
| Net Operating Income |
$183,716
|
$19.99
|
PROPERTY FACTS
| Price | $2,400,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| Gross Rent Multiplier | 10.4 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 9,192 SF |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 1.74/1,000 SF |
| Opportunity Zone |
Yes |
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 4 | $2,195 | 1,125 |
| 4+2 | 4 | $2,613 | 1,125 |
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PROPERTY TAXES
| Parcel Number | 3009-010-005 | Total Assessment | $1,061,207 |
| Land Assessment | $159,181 | Annual Taxes | $30,000 ($3.26/SF) |
| Improvements Assessment | $902,026 | Tax Year | 2024 |
ZONING
| Zoning Code | R3 |
