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Tera Rench

terarenchre@gmail.com +1(262) 370-7299

$2,925,000

Est. payment - /mo

0.47 Acres Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26222100

HOA Y/N No

Year Built 1977

Lot Size 0.472 Acres

Property Sub-Type Apartment

Property Description

Just Listed! Exceptional opportunity to acquire a 10-unit multifamily property in the highly desirable city of Downey, offered for sale by the original builder for the first time since its construction in 1977. Priced at $2,925,000, this investment delivers an attractive 6% current CAP Rate and 11.48 GRM, providing investors with strong day-one cash flow in one of Southeast Los Angeles County's most sought-after rental markets.

Built in 1977, the property features an excellent unit mix consisting of one 3-Bedroom/2-Bath unit and nine 2-Bedroom/1-Bath units, offering spacious floor plans that appeal to discerning renters seeking comfortable living accommodations. The property encompasses approximately 8,186 rentable square feet on a generous 20,544 sq. ft. lot, providing ample space for parking and resident amenities.

Tenants enjoy onsite garage, carport, and open-space parking, along with a convenient onsite laundry facility. Additional property features include copper plumbing and air conditioning in all units, amenities that enhance the property's overall appeal and distinguish it from many competing apartment communities.

Ideally situated just minutes from Downey Landing and the Promenade at Downey, residents benefit from convenient access to popular shopping, dining, entertainment, and everyday necessities. Combining 1977 construction, a desirable unit mix, strong current financial performance, and an excellent Downey location, this pride-of-ownership property presents a rare opportunity to acquire a well-established multifamily asset directly from its original builder.

Location

State CA

County Los Angeles

Area D1 - Northeast Downey, N Of Firestone, E Of Downey

Zoning DOR3*

Interior

Cooling Ductless, Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Carport, Garage, Paved, One Space

Garage Spaces 9.0

Carport Spaces 4

Garage Description 9.0

Fence Block, Chain Link

Pool None

Community Features Gutter(s), Sidewalks

Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available

View Y/N No

View None

Roof Type Shingle

Total Parking Spaces 20

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 6284023023

Energy Description 4800.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Kristopher German RE/MAX 2000 REALTY 909-645-0443, DRE #01800021

NEARBY SCHOOL & BUSINESS

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9367 Washburn RD Downey, CA 90242