Rare Owner Opportunity and Investor Gem! Cypress Palms is a townhome style Quad-plex located in highly desirable rental market of Cypress. Across the street from Clara J King Elem. Spacious two-story units feature Soaring 20ft vaulted ceilings, large living rooms, central HVAC, and laundry inside. Two units recently remodeled; all units are in clean condition. Fully occupied with long-term tenants. 25% upside in current rents. Separately metered for electricity and gas. Potential Condo Conversion- units are already approved. New 50-year composite shingle roof installed 2011. Easy access to the 5,91,405 and 605 freeways. No rent control.