1218 E Avenue Q
Palmdale, CA, 93550
$7,200,000
MLS: 26003423
Beds
48
Baths
24
Sq Ft
23,230
Lot
1.21 ac
Year Built
1986
MLS #
26003423
Days on Market
220
Listed
Apr 29, 2026
Description
Rare High-Upside Value-Add Opportunity! 24-Unit Apartment Complex with 6 VACANT Units Ready for Immediate Lease-Up. All Units have been Upgraded. Perfect for an Investor Looking to Capture Instant Equity and Rapidly Increase Cash Flow. Strong 2 Bed and 1 Bath Unit with High Rental Demand. Significant Upside Through Leasing Vacant Units at Market Rents and Repositioning Remaining Units. Existing Ownership Pays Water and Trash Clear Path to Improving NOI Through Expense Pass-Throughs. Additional Income Potential from On-Site Laundry. Property Offers Carport Parking and Private Balconies on Upstairs Units, Enhancing Tenant Appeal and Rent Premiums. Ideal for Experienced Investor Seeking a Heavy Value-Add or Stabilization Play with Major Income Growth Potential. Sold As-Is. Buyer to Verify all Information. Do Not Disturb Tenants.
Location
Palmdale, Los Angeles County, CA 93550
Open on Google Maps ↗Listed by: Christie Limpus · Berkshire Hathaway HomeServices Troth, REALTORS
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$55,366
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $720,000 · Loan: $6,480,000
Average 30-yr fixed rate 7.40% as of Oct 8, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $44,866
- Property tax (1.25%)
- $7,500
- Homeowners insurance
- $300
- Mortgage insurance
- $2,700
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 8, 2026
- 30-year fixed
- 7.40%
- 15-year fixed
- 6.73%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
Palmdale, CA in context
Palmdale runs the gamut from the foothill estates of West Palmdale (93551) — Rancho Vista, Anaverde, and the desirable hill-side communities — to the value-priced newer construction of East Palmdale (93552). Central Palmdale (93550) covers the original part of the city and the Civic Center, and 93591 picks up the Llano border. Active listings across all four ZIPs are below. As a local Palmdale Realtor since 2005, Mike Watson knows how Rancho Vista, Anaverde, and the east-side tracts price out and which ZIP fits your budget. If you are evaluating homes in Palmdale, Mike Watson lives and works the Palmdale market every day. He pairs this listing with a free market analysis for your specific street, an honest read on the financing options that fit (FHA, VA, USDA, CalHFA, conventional, and assumable when the loan supports it), and a side-by-side compare against the rest of the active inventory in the area.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Palmdale home with as little as 3.5% down using an FHA loan — roughly $252,000 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
Local Market Stats
See Palmdale, CA 93550 market trends →
Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
★#1 Producing Individual Realtor, Antelope Valley
Only large teams outsell Mike Watson · Keller Williams Realty
Free Buyer & Seller Tools
Net Sheet Calculator
Estimate how much you'll walk away with after selling. Covers commissions, closing costs, and loan payoff.
Property Comparison
Compare 2–3 properties side-by-side — equity, monthly payment, cash to close, and DTI — all in one infographic.
Drive Time Calculator
Check commute times from this address to work, school, or anywhere else before you commit.
Buyer Cost Sheet
Estimate your total closing costs as a buyer — lender fees, title, escrow, and prepaids — before you write an offer.