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    Gated Fourplex with Private Patios Title is generated by Realmo AI

    38721 5th E, Palmdale, CA 93550

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    For Sale
    $719,999

    Traditional, Apartment - Palmdale, CA

    Type:Apartment
    Property size:
    3,340 SF
    Lot size:
    7,977.00 Acres
    Price / SF:
    $215/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 12:06 am

    Property Features for 38721 5th E

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    5
    Parking features
    Garage, Side by Side
    Interior features
    Carbon Monoxide Detector(s)
    Exterior features
    Fence, Community Features Included: Street Lights, Sidewalks, 0-1 Unit/Acre
    Fencing
    Fenced
    Standard status
    Active
    APN
    3008009023
    Size
    3,340 SF
    Lot size
    7,977.00 Acres

    Utilities

    Heating system
    Central, Wall Furnace
    Cooling system
    Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1969
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Carpet, Laminate, Vinyl
    Building materials
    Stucco
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Nancy Aynehchi

    Listing agent Nancy Aynehchi License #01450929

    Listing office First Team Real Estate 4040 Barranca Pkwy #100, Newport Beach, CA

    Listing date Jun 2, 2026

    MLS# OC26115351 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Gated fourplex built in 1969 with four 2‑bedroom, 1‑bath units
    • Two upper units updated with quartz countertops, shaker cabinetry, vinyl flooring, and newer HVAC
    • Lower units include private patios
    • Each unit has access to an enclosed detached garage: one 1‑car and three 2‑car garages (side‑by‑side parking)
    • Water, gas, and electricity are separately metered for each unit
    • Inactive laundry room offers potential for future utility income

    Overview

    Located in East Palmdale, this gated fourplex provides a straightforward residential income setup with four two-bedroom, one-bath units. The building is set on a single lot and includes private patios for the lower units. Each unit has access to an enclosed detached garage, with one 1-car garage and three 2-car garages providing secure off-street parking. Water, gas, and electricity are separately metered to support independent utility billing. An inactive laundry room may offer potential for future utility income.

    Two of the upper units have been renovated, featuring modern quartz countertops, shaker cabinetry, and vinyl flooring in the family rooms and kitchens, along with newer HVAC. The remaining units present an opportunity for additional updates and value enhancement, whether you plan to lease them as you renovate or reposition the property over time.

    This is a practical fit for investors seeking consistent rental income, and it can also work for an owner-user strategy where you live in one unit while renting the others. The private patio feature and enclosed garage access add everyday livability, while the separate utilities and independent metering make operations simpler. Showings are available only after an accepted offer, and tenants should not be disturbed.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $85.4k $25.56
    − Vacancy −$5.5k −$1.66
    EGI $79.8k $23.90
    − OpEx −$23.9k −$7.17
    NOI $55.9k $16.73
    3,340 SF · lease $25.56/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $798.2K
    $698.4K – $931.3K (±1% cap)
    NOI $55,875 @ 7.0% cap · market cap 7.76%
    Second Best
    Apartment 5plus
    $741.6K
    $648.9K – $865.2K (±1% cap)
    NOI $51,914 @ 7.0% cap · market cap 7.21%
    Theoretical Best
    Office A
    $1.41M
    $1.23M – $1.65M (±1% cap)
    NOI $98,719 @ 7.0% cap · market cap 13.71%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palmdale
    County
    Los Angeles
    State
    California
    Longitude
    -118.1211785
    Latitude
    34.5861561

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    FAQs

    What type of property is this?
    Quadplex - Four two-bedroom units with private patios, separate utilities, and attached enclosed garage access for flexible income or owner-use.
    Where is this quadplex located?
    The property is located at 38721 5th E Palmdale, CA.
    What is the asking price?
    The asking price for this property is $719,999.
    What are key features of this property?
    This property features: Gated fourplex built in 1969 with four 2‑bedroom, 1‑bath units; Two upper units updated with quartz countertops, shaker cabinetry, vinyl flooring, and newer HVAC; Lower units include private patios
    (714) 496-8852
    We can help!
    Listing Contact
    Nancy Aynehchi
    Real Estate License ID: 01450929
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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