406 408 E Avenue Q7, Palmdale, California 93550, Palmdale, 93550 - 0 bed, 0 bath
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Palmdale, California 93550
This High-Potential Investment Opportunity is a fully occupied duplex listed at $440,000, positioned above the $394,604 Fair Market Value. While priced at a premium, the property generates $34,200 in annual gross income, offering a stable 5.9% cap rate. With a Condition Rating of 4, the asset requires modernization, providing a clear path for value-add renovations. The ability to acquire the adjacent duplex creates a unique opportunity for portfolio scaling. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking immediate cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 406 408 E Avenue Q7 Subject | $440,000* List Price | 0 | 0 | 1,360 | $290 | - |
A 835 E Avenue Q Sold | $410,000 | 2 | 2 | 1,412 | $290 | 0.4 mi |
B 38857 Rambler Avenue Sold | $350,000 | 2 | 2 | 1,412 | $248 | 0.4 mi |
C 38857 9th Street E Pending | $325,000 List Price | 2 | 2 | 1,412 | $230 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1957, this property is significantly dated. Kitchens show visible wear on cabinetry and older appliances, while the presence of wall heaters and window AC units indicates a lack of modern central HVAC systems. Although functional and tenant-occupied, the interior finishes, popcorn ceilings, and aged systems require modernization and minor repairs to meet current market standards.
The property is fully occupied and generating $34,200 in annual gross rental income, providing an investor with immediate revenue from day one.
The availability of the neighboring duplex offers a rare opportunity to acquire side-by-side income properties, allowing for streamlined management and increased scale.
With a competitive 5.9% cap rate and a GRM of 12.87, the property is priced attractively for the Palmdale market compared to similar residential income assets.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6003, other record lot size in square feet = 8491. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1360, other record living area = 996.
The 'drive-by only' restriction and requirement of an accepted offer for interior inspections may limit a buyer's ability to assess the physical condition before committing.
Built in 1957, the property may have aging infrastructure or systems that could require higher long-term maintenance costs or capital improvements.
Rare opportunity to own a fully occupied income-producing duplex generating **$2,850/month ($34,200 annually)** in gross rental income. Offered at **$440,000**, this property features an attractive **GRM of 12.87** and an approximate **5.9% cap rate**. Each spacious 2-bedroom, 1-bath unit is tenant occupied, with tenants paying all utilities except water and trash. **The neighboring duplex at 410-412 E Ave Q-7 is also available for purchase**, creating an excellent opportunity to acquire two side-by-side investment properties. Conveniently located near shopping, schools, and commuter routes with strong rental demand. **Please do not disturb tenants. Drive-by only. Interior inspections available with an accepted offer.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,360 | 3,340 |
| Lot Size | 6,003 | 7,977 |
| Price | $440.0K | $522.6K |
| Price per sq ft | $324 | $257 |
| Built year | 1957 | 1969 |
| HOA | $0 | $0 |
| Days on market | 8 | 74 |
Jul 14, 2026
$440,000
Initial Listing