Renovated Duplex With Two
For Sale
$479,999
38902 Rambler Avenue, Palmdale, CA 93550
Residential Income, Palmdale, CA
Property Size1,770 SF
Lot Size0.15 Acres
Price / SF$271.19
Days on Market45
Property Features for 38902 Rambler Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LCR2
Bedrooms
6
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 5, Bedroom 2
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: Sep 14
Last Checked: Sep 16 at 6:06PM
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 on a 0.15-acre lot. The front unit offers three bedrooms and one bathroom, while the rear unit includes two bedrooms, one bathroom, and a bonus room that can function as a third bedroom. Interior improvements include refreshed flooring and updated kitchen and bathroom finishes.
Both residences are occupied by tenants supported through the HUD-VASH program. The property is located in unincorporated Palmdale and carries LCR2 zoning. Built in 1955, the improvements feature stucco construction, an asphalt roof, and ductless heating and cooling.
Both residences are occupied by tenants supported through the HUD-VASH program. The property is located in unincorporated Palmdale and carries LCR2 zoning. Built in 1955, the improvements feature stucco construction, an asphalt roof, and ductless heating and cooling.
Key Highlights
- 1,770‑square‑foot duplex on a 0.15‑acre lot
- Front residence has 3 bedrooms and 1 bathroom
- Rear residence has 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
6.17%
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 6.17%
Second Best
Apartment 5plus
$393.0K
$343.9K – $458.5K
NOI $27,511 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$747.4K
$653.9K – $871.9K
NOI $52,315 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit residential property with distinct floor plans and current HUD-VASH occupancy.
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 $479,999.
What are key features of this property?
This property features: 1,770‑square‑foot duplex on a 0.15‑acre lot; Front residence has 3 bedrooms and 1 bathroom; Rear residence has 2 bedrooms, 1 bathroom, and a bonus room
