Renovated Duplex with Two
For Sale
$486,999
38902 Rambler Avenue, Palmdale, CA 93550
Residential Income, Palmdale, CA
Property Size1,770 SF
Lot Size0.15 Acres
Price / SF$275.14
Days on Market27
Property Features for 38902 Rambler Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LCR2
Bedrooms
6
Rooms
Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 4, Bedroom 1
Directions
Take sierra highway , make a right on avenue q I left on rambler
Subdivision
09 - Palm Div to 80th E
Standard status
Active
APN
3022-019-001
Size
1,770 SF
Lot size
0.15 Acres
Utilities
Heating system
Ductless (Heating)
Cooling system
Ductless
Building Details
Year built
1955
Number of units
2
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
Ethos International Real Estate
(949) 572-7743
Listed By:
Jose Navas Ampuero · License #02050322
(818) 641-0986
Added: Aug 3
Changed: Aug 20
Last Checked: Aug 29 at 7:06AM
MLS# 26006142
Copyright © 2026 Greater Antelope Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,770 square feet across two renovated residences. The front unit offers 3 bedrooms and 1 bathroom, while the rear unit includes 2 bedrooms, 1 bathroom, and a bonus room that can function as a third bedroom. Improvements include refreshed flooring, updated kitchen and bathroom surfaces, and clean, modernized interiors. The property was built in 1955 and features stucco construction, an asphalt roof, and ductless heating and cooling.
Both residences are occupied by tenants participating in the HUD-VASH program. The property is located at 38902 Rambler Avenue in Palmdale, California, on a 0.15-acre lot. Zoning is identified as LCR2.
Both residences are occupied by tenants participating in the HUD-VASH program. The property is located at 38902 Rambler Avenue in Palmdale, California, on a 0.15-acre lot. Zoning is identified as LCR2.
Key Highlights
- Two‑residence duplex totaling 1,770 square feet
- Front unit includes 3 bedrooms and 1 bathroom
- Rear unit offers 2 bedrooms, 1 bathroom, and a bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,610
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$592,200
$592.2K
Cap Rate 7%
$423,000
$423.0K
Cap Rate 9%
$329,000
$329.0K
Market Conditions
NOI Build-Up for 1,770 SF
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.
Gross rent
$45.2K $25.56/SF
− Vacancy
−$2.9K −$1.66/SF
EGI
$42.3K $23.90/SF
− OpEx
−$12.7K −$7.17/SF
NOI
$29.6K $16.73/SF
Area
Palmdale, CA
Vacancy
6.50%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$592,200
Cap Rate 7%
$423,000
Cap Rate 9%
$329,000
Alternative Uses
Best Use
Multifamily LT 5
$423.0K
$370.1K – $493.5K
NOI $29,610 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$393.0K
$343.9K – $458.5K
NOI $27,511 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$747.4K
$653.9K – $871.9K
NOI $52,315 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 93550, CA
82,379
Population
23,965
Households
3.4
Avg Household Size
31
Median Age
10%
College-Educated
71%
High-School Grad
259.3 sq mi
ZIP Area
318
Density / Sq Mi
$63,811
Median Household Income
$34,287
Median Earnings
$1,573
Median Rent
$378,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-residence property with a three-bedroom front unit and flexible rear-unit living space.
Where is this duplex located?
The property is located at 38902 Rambler Avenue Palmdale, CA.
What is the asking price?
The asking price for this property is $486,999.
What are key features of this property?
This property features: Two‑residence duplex totaling 1,770 square feet; Front unit includes 3 bedrooms and 1 bathroom; Rear unit offers 2 bedrooms, 1 bathroom, and a bonus room
