
Palmdale, California 93550
This Strong Value Opportunity is a turnkey duplex listed at $486,999, positioned well below the $520,068 Fair Market Value by 6%. This valuation gap provides $33,069 in Instant Equity. Featuring a Turnkey Condition Rating with modern renovations and stable HUD-VASH tenants, this asset offers immediate cash flow. The SB 9 Zoning provides significant long-term development potential for expansion. This is an ideal acquisition for Buy-and-Hold Investors or Portfolio Builders seeking a secure, income-generating property in Palmdale.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 38902 Rambler Subject | $486,999* List Price | 0 | 0 | 1,770 | $294 | - |
A 38708 Larkin Sold | $620,000 | 0 | 0 | 2,240 | $277 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1955, the property has undergone extensive recent renovations (likely within the last 5 years) as evidenced by the modern shaker-style kitchen cabinets, subway tile backsplashes, updated laminate flooring, and contemporary bathroom vanities and fixtures. The listing confirms a turnkey status with zero immediate capital expenditure required.
Both units have undergone extensive modern renovations, including updated kitchens, flooring, and architectural details, eliminating the need for immediate capital expenditure.
The property is occupied by HUD-VASH tenants, providing a reliable, government-backed rental stream with low turnover and high financial security for investors.
Located in unincorporated Palmdale and zoned for SB 9, the lot offers significant long-term upside through potential lot splitting or the addition of up to three more units.
Each unit features only one bathroom, which may be a competitive disadvantage for the three-bedroom layouts when compared to more modern multi-bath configurations.
Despite recent renovations, the original 1955 construction may necessitate higher long-term maintenance costs for underlying plumbing, electrical, and structural components.
Prime Investment Opportunity: Turnkey Multi-Unit Duplex with Immediate Yield & SB 9 Expansion Potential in Unincorporated Palmdale Welcome to 38902 Rambler, an exceptional multi-unit property situated in the desirable unincorporated area of Palmdale. Offering an unbeatable combination of strong immediate cash flow, top-tier property conditions, and massive long-term development upside, this turn-key duplex is a rare find for savvy investors and portfolio builders alike. Fully Renovated & Functional Residences Both units on the lot have undergone extensive renovations, bringing modern aesthetics, upgraded finishes, and full operational functionality to every corner of the property: Front Unit (Unit 1): A spacious, fully renovated 3-bedroom, 1-bathroom floor plan featuring bright interiors, refreshed flooring, modernized kitchen and bathroom surfaces, and clean architectural details. Rear Unit (Unit 2): A fully renovated 2-bedroom, 1-bathroom residence enhanced by a flexible bonus room that easily serves as a third bedroom. Designed for maximum space utilization and modern comfort. Both units boast hassle-free living with clean, updated spaces that require zero immediate capital expenditure. Guaranteed & Stable Income Stream (HUD-VASH Tenants) Enjoy immediate stability and peace of mind from day one. Both units are occupied by valued veteran tenants supported through the HUD-VASH (VA Supportive Housing) program. This program offers landlords strong peace of mind with consistent, government-backed rental payments, low turnover, and the pride of supporting local military veterans with quality housing. Unlocking Massive Development Upside (SB 9 Zoned) The true crown jewel of 38902 Rambler lies in its future growth footprint. Positioned in unincorporated Palmdale, the lot is zoned for Senate Bill 9 (SB 9), providing an unmatched development opportunity. Investors can leverage SB 9 provisions to split the lot or expand the existing footprint to add up to three
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 1,770 | 2,376 |
| Lot Size | 6,393 | 7,042 |
| Price | $487.0K | $503.9K |
| Price per sq ft | $275 | $244 |
| Built year | 1955 | 1961 |
| HOA | $0 | $0 |
| Days on market | 7 | 133 |
Sep 2, 2026
$486,999
Initial Listing
Aug 16, 2023
$440,000
Public Record
Oct 8, 2021
$280,000
Public Record
Oct 22, 2014
$133,000
Public Record
Mar 6, 1998
$27,000
Public Record