1045 Elizabeth Lake Road Income-Producing Single Family Home with Permitted Detached Cottage & Development Potential! Exceptional investment opportunity featuring a well-maintained single-family home with a permitted detached cottage, both currently tenant-occupied and generating immediate cash flow. The main residence offers approximately 783 square feet with 2 bedrooms and 1 bathroom and was updated in 2021. The permitted detached cottage provides approximately 400 square feet, creating an ideal setup for investors seeking immediate cash flow or owner occupants looking to offset their mortgage with rental income. Situated on an R-3 zoned lot, this property offers excellent potential for future expansion, redevelopment, or the addition of residential units (buyer to verify all development possibilities with the City of Palmdale). The generous lot provides flexibility for future projects while the existing improvements deliver income from day one. Conveniently located near shopping, schools, parks, public transportation, and major commuter routes, this property offers the perfect combination of current rental income and long-term investment potential. Whether you're expanding your real estate portfolio, purchasing your first income property, or exploring future development opportunities, this versatile property presents a rare opportunity with immediate returns and significant upside.