11517 Old River School Rd, Downey, CA 90241
- $3,550,000
- List Price
- $3,550,000
- Price Change
- ▼ $145,000 1779496832
- Status
- PENDING
- MLS#
- CV26059950
- Year Built
- 1957
- Lot Size
- 14,489
- Acres
- 0.33
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 29
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
PRICED TO SELL! Now offered at a 6.58% CAP Rate, 10.26 GRM! 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 all 1-Bed/1-Bath units totaling 8,616 rentable square feet on an expansive 14,489 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and long-term retention. The property is now delivering a 6.58% CAP Rate and 10.26 GRM, providing stronger in-place returns and improved cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11523 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, solid fundamentals, and a desirable unit mix, making it a compelling acquisition for investors focused on immediate income and future upside.
Additional Information
- Pool Description
- None
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Roof
- Flat
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 16
- Gross Scheduled Income
- $345,840
- Operating Expense
- 102021
Listing courtesy of Listing Agent: Kristopher German (kris@theapartmentdealer.com) from Listing Office: RE/MAX 2000 REALTY.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.