7
See all 7 photos
$3,550,000
Est. payment /mo
4 Beds
4 Baths
0.34 Acres Lot
Pending
11523 Old River School Road Downey, CA 90241
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CV26060040
Bedrooms 4
Lot Size 0.335 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
NEW Price: Now Offering a 6.34% CAP Rate! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, now aggressively priced at $3,550,000. This well-located asset features 16 1-Bed/1-Bath units plus a non-conforming studio (stand alone structure ideal for ADU conversion - check with proper city authorities), totaling 8,208 rentable square feet on an expansive 14,604 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents enjoy a full range of amenities including onsite parking, an onsite laundry facility, and a sparkling swimming pool, recently resurfaced with a new security gate being installed. Additional recent improvements include all staircases replaced for second-floor access, enhancing both safety and long-term durability. The property is now delivering a 6.34% CAP Rate and 9.84 GRM, providing improved in-place returns and stronger day-one cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11515 Old River School Rd is also available for purchase, creating a unique chance to acquire 32 units total, ideal for investors seeking scale, operational efficiency, and long-term portfolio growth in a prime Downey location. Positioned in a high-demand rental market, this offering combines improved pricing, recent capital improvements, and strong fundamentals, making it a compelling acquisition for investors focused on immediate income and long-term upside.
Location
State CA
County Los Angeles
Zoning Assessor
Direction South of Firestone Blvd. West of Rives Ave
Interior
Cooling Wall/Window
Fireplace No
Exterior
Pool Private
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 6231003010
Listed by Kristopher German, DRE#01800021 RE/MAX 2000 REALTY
NEARBY SCHOOL & BUSINESS
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