Cheryl Riley

Cheryl Riley

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$1,070,000

($741,550 down)
FHA

38624 15th Street E, Palmdale, CA 93550

12
7
2,597 sqft
PITI Monthly
$3,364.21 /mo

Listing courtesy of: Samir Rafeh, eXp Realty of California Inc

Assumed Rate

3.72%
7.15%

Principal & Interest

$1,690 /mo
$2,474 /mo

What's Special

INVESTORS
LOCATION
AFFORDABLE
TURNKEY

Seller Will payoff Solar before close of escrow Investment Property Discretion Summary Location 38624 15th St East, Palmdale, CA 93550 Parcels: 2 (Combined Use) Property Type Mixed (3 Homes + 2 Mobile Homes) Total Monthly Income $8,900 Positioning: Heart of Palmdale (Prime Urban Location) Key Highlights for DiscretionStrong Cash Flow** $8,900/month gross income offers immediate ROI potential. - Versatile tenant options (residential or blended use). Strategic Location** Urban center proximity ensures high demand for housing/rentals. Access to amenities (transit, schools, retail) enhances tenant retention. Dual-Parcel Flexibility Subdivision potential (sell/develop parcels separately). -Expansion options (e.g., ADUs, lot splits per local zoning). 4. Hybrid Housing Model - Traditional homes attract long-term tenants; mobile homes cater to affordable housing demand. Diversified income reduces vacancy risk. Value-Add Opportunities Renovate mobile homes for higher rents or convert to tiny homes. Explore city incentives for multi-family or mixed-use development. Market Resilience , Palmdale's growth (AV Valley demand, proximity to LA) supports appreciation. Scarcity of centrally located multi-unit properties boosts long-term value, Discretionary ConsiderationsZoning Verify allowable uses (e.g., R3 for multi-family, mobile home ordinances). -Expenses: Factor in maintenance (mobile homes require upkeep) and property management, Tenant Mix: Screen for stable occupancy (e.g., Section 8 vouchers for mobile homes). Exit Strategies: Hold for cash flow, sell parcels individually, or redevelop. Target Audience Buyers seeking cash flow, developers eyeing infill potential, or landlords wanting a turnkey portfolio starter. Final Note A rare blend of income, location, and adaptability ideal for hands-on or passive investors. Would you like a financial breakdown (cap rate, NOI, etc.) or comps to refine discretion further?

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
3.72
Remaining Loan Term
24 years, 11 months
Monthly PITI
$3,364.21/mo
Estimated Loan Balance
$329,788
Cash to close
$741,550
Interest Paid
$65,920

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 12
  • Bathrooms: 7
Cooling & Heating
  • Cooling: EvaporativeCooling
  • Heating: WallFurnace
Features
  • Materials: Stucco, WoodSiding
  • Community: Unknown
  • Has Fireplace: Yes
  • Fireplace Features: FamilyRoom
  • Flooring: Carpet, Laminate

Exterior

Fencing
  • Fencing: ChainLink, Wood
Roof
  • Roof: Composition
Parking
  • Garage: Yes
  • Garage Spaces: 2
  • Carport: No
  • Carport Spaces:
Water
  • Sewer: PublicSewer
  • Water Source: Public
Pool
  • Has Pool: Yes
  • Pool Features: InGround, Private, Association

Construction

Type & Style
  • Stories: 1
  • Home type:
  • Architectural Style: Traditional
Materials
  • Stucco, WoodSiding
  • Roof: Composition
Condition
  • Year Built: 1953
Details
  • Builder:

Community & HOA

Community
  • Subdivision:
  • Features: Sidewalks
HOA
  • Has HOA: No
Location
  • Region: Palmdale

Financial Details

  • Price per Sqft: $412.01
  • Tax Annual Amount: $13375
  • On Market Date: 2025-04-13T00:00:00.000Z
Inquire about this property

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Savings Calculator

Current cash to close is $741,550 (69%)
You can enter any amount below - secondary financing will cover the difference if needed.
69%
$

You cover the entire equity of $741,550!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.72% Sellers Rate
$328,450
Your Cash:$741,550
Total Purchase Price:$1,070,000

Assumed vs Traditional Mortgage

Assumed @ 3.72%
$1,690/mo
Traditional @ 7.15%
$2,566/mo
You save $876/month ($10,513/year)

*Secondary financing rates are an estimated value based on input

MLS ID: 225001809

Listing From:

Last updated: 2025-04-15T03:35:52.000Z

© , CRMLS. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

3.72%
7.15%

Principal & Interest

$1,690 /mo
$2,474 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $741,550 (69%)
You can enter any amount below - secondary financing will cover the difference if needed.
69%
$

You cover the entire equity of $741,550!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.72% Sellers Rate
$328,450
Your Cash:$741,550
Total Purchase Price:$1,070,000

Assumed vs Traditional Mortgage

Assumed @ 3.72%
$1,690/mo
Traditional @ 7.15%
$2,566/mo
You save $876/month ($10,513/year)

*Secondary financing rates are an estimated value based on input

Follow Us
American Allstar Realty
Agent/Broker
Cheryl RileyAmerican Allstar Realty(602) 353-7375cheryl.m.riley@gmail.comMLS BR655878000

© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than American Allstar Realty are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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