# Fix & flip/ BRRRR/Investment Opportunity: Redevelopment Potential in Palmdale, CA

[Anshuman Thakur]

# Fix & flip/ BRRRR/Investment Opportunity: Redevelopment Potential in Palmdale, CA (~ generate $117K+ additional revenue from land redevelopment/mixed use potential)

(Motivated Seller)

Property Overview

- Location: Prime location directly across from Palmdale Sheriff Station and the proposed High-Speed Rail Station.- Size: A total of 2.5 acres across three parcels with access from three streets.- Current Use: A decaying 7-unit property (1 unit apt) with 3 units occupied

Property Details

- 3 Units currently generating approx. $24,000/annually in rent. ($800/month/unit)- 4 Units in Poor Condition:o 1 Unit: In teardown conditiono Additional rehab cost ~ $50k - The existing tenants are family members of an employee, and rent has not been increased, leaving potential for improved rental income.- Proforma rental - $117,600 ($1400/unit/month) + additional revenue from land redevelopment

Zoning:

- Mixed Use Potential: Portions of the land are zoned for commercial and multifamily use, allowing for diverse redevelopment opportunities.

Redevelopment Possibilities:

This property offers vast opportunities for various types of development, including but not limited to:

- Fast Food Restaurants- Gas Stations- Multifamily Housing- Mixed-Use Developments

Background

- Purchased 20 years ago with the intent to build a strip center and office location for a Bail Bond business.- The condition of the property has deteriorated, and the current landlord is no longer involved in redevelopment due to distance and changing business priorities.

Market Insight

- As Palmdale prepares for the high-speed rail connection between Las Vegas and California, the area's property values, and development potential are poised for growth.

Seller's Perspective

- The seller is motivated to simplify holdings following the passing of a family member and is open to reviewing offers that reflect the property's potential.

Next Steps

- If you recognize the potential of this property and are interested in exploring this unique investment opportunity, please reach out to me for further discussions or to submit your offer.