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About the Listing 51247 - CV33418
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.
Listing Highlights
Status
Active
Days on Site
74
Property Type
Multi-Family
MLS ®
CV26060040
Year Built
1956
Total Square Footage
8,208
Lot/Acreage
0.34
Interior Details
- Bedrooms: 11
- Bathrooms: 11 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 16
- Zoning: DOR3
- Roof: Flat
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Assigned,Asphalt
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 6231003010
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Questions About..
11523 Old River School Rd Downey, CA 90241
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