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524 E Avenue Q12 presents a compelling opportunity to acquire a well-maintained 30-unit apartment community in Palmdale, CA, situated on a substantial 1.46-acre parcel. The property features a highly desirable, consistent unit mix of all 2-bedroom / 1-bathroom units that commands strong tenant demand. Residents benefit from 30 on-site parking spaces, secure gated parking, ADA-compliant units, an on-site laundry room, a dedicated leasing office, and generous outdoor space.Current ownership has invested over $1,850,000 in capital improvements since 2018, positioning the asset as a turnkey, income-producing investment. Beyond its income upon the stabilization of the asset, the property offers meaningful upside: there is an opportunity to add up to 8 ADUs utilizing SB 1211, while the open stabilization and lease-up of the vacant units allows a buyer to achieve a projected cap rate of 7.09%.The sale includes a .46 acre site that is zoned for an additional 21 units. Together, these attributes make 524 E Avenue Q12 a great opportunity to stabilize a well-located asset with a clear path to enhanced returns through both rental growth and future development potential through ADU construction and redevelopment of the vacant lot.
Property Type(s):
Residential Income
| Last Updated | 7/6/2026 | Tract | Not Applicable |
|---|---|---|---|
| Year Built | 1980 | Community | PLM - Palmdale |
| County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | PLM - Palmdale |
| HEAT | Wall Furnace |
| LOT | 1.4619 acre(s) |
| LOT DIMENSIONS | 63682 |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SUBDIVISION | Not Applicable |
| VIEW DESCRIPTION | None |
Location
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Listed with Keller Williams Realty
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