30-Unit Apartment
For Sale
Contact for pricing
524 E Avenue Q12, Palmdale, CA 93550
The community offers a uniform two-bedroom, one-bathroom layout with gated parking, laundry, and an on-site leasing office.
Property Size21,762 SF
Lot Size1.46 Acres
Price / SF$234.35
Days on Market102
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Property Features for 524 E Avenue Q12
General Information
Standard status
Active
Size
21,762 SF
Total Parking Spaces
30
Lot size
1.46 Acres
Property subtype
Multifamily
Zoning
PDR3
Occupancy
56%
Investment Type
Value Add
Net Operating Income
$361,346
Units
Unit Mix
30 x 2BR/1BA
Multifamily Units
30
Amenities
gated parking
ADA-compliant units
on-site laundry room
dedicated leasing office
outdoor space
Building Details
Year Built
1980
Buildings
3
Units
30
Tenancy
Multi
Listing Agency:
KW Commercial Pasadena
Listed By:
Casey Picard · License #CA 01921866
(626) 716-4451
Source:
Crexi
Added: Jul 6
Changed: Oct 15
Last Checked: Oct 14 at 11:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Pasadena
Investment Insights
Based on property information with market context.
This 30-unit apartment community comprises 21,762 square feet on a 1.46-acre parcel. Built in 1980, the property features an identical mix of two-bedroom, one-bathroom units, along with ADA-compliant residences, 30 on-site parking spaces, gated parking, an on-site laundry room, a leasing office, and outdoor areas. The property is zoned PDR3.
Located at 524 E Avenue Q12 in Palmdale, the community includes an opportunity identified in the property information for up to 8 additional dwelling units through SB 1211. The existing apartment layout and supporting amenities provide a consistent configuration across the property, while the documented ADU potential adds a future development component.
Located at 524 E Avenue Q12 in Palmdale, the community includes an opportunity identified in the property information for up to 8 additional dwelling units through SB 1211. The existing apartment layout and supporting amenities provide a consistent configuration across the property, while the documented ADU potential adds a future development component.
Key Highlights
- 30‑unit apartment community on a 1.46‑acre parcel
- 21,762 SF property built in 1980
- All units are 2‑bedroom, 1‑bathroom residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$338,247
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,764,940
$6.8M
Cap Rate 7%
$4,832,100
$4.8M
Cap Rate 9%
$3,758,300
$3.8M
Market Conditions
NOI Build-Up for 21,762 SF
Gross rent
$652.9K $30.00/SF
− Vacancy
−$37.9K −$1.74/SF
EGI
$615.0K $28.26/SF
− OpEx
−$276.7K −$12.72/SF
NOI
$338.2K $15.54/SF
Area
Palmdale, CA
Vacancy
5.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,764,940
Cap Rate 7%
$4,832,100
Cap Rate 9%
$3,758,300
Alternative Uses
Best Use
Apartment 5plus
$4.83M
$4.23M – $5.64M
NOI $338,247 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.19M
$8.04M – $10.72M
NOI $643,208 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
30
Residential units
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Apartment building - The community offers a uniform two-bedroom, one-bathroom layout with gated parking, laundry, and an on-site leasing office.
Where is this apartment building located?
The property is located at 524 E Avenue Q12 Palmdale, CA.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: 30‑unit apartment community on a 1.46‑acre parcel; 21,762 SF property built in 1980; All units are 2‑bedroom, 1‑bathroom residences
