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Listed by Kristopher German, DRE #01800021 • RE/MAX 2000 REALTY
$ 3,550,000
Est. payment /mo
Pending
11517 Old River School Rd Downey, CA 90241
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRCV26059950
Year Built 1957
Lot Size 0.333 Acres
Source California Regional MLS
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.
Location
State CA
County Los Angeles
Area D3 - Southwest Downey, S Of Firestone, W Of Downey
Rooms
Kitchen None
Interior
Cooling Window / Wall Unit
Laundry Laundry Area
Exterior
Parking Features Assigned Spaces, Other
Garage Spaces 16.0
Pool 31, None
View None
Roof Type Flat / Low Pitch
Building
Water District - Public
Others
Tax ID 6321003012
Special Listing Condition Not Applicable
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