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Listed by Kristopher German, DRE #01800021 • RE/MAX 2000 REALTY
$ 3,550,000
Est. payment /mo
Pending
11523 Old River School RD Downey, CA 90241
0.34 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRCV26060040
Year Built 1956
Lot Size 0.335 Acres
Source California Regional MLS
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
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, Pool - Yes
View None
Roof Type Flat / Low Pitch
Building
Water District - Public
Others
Tax ID 6231003010
Special Listing Condition Not Applicable
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