11523 Old River School Road,Downey, CA 90241
Downey, CA 90241
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 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.
Details
| MLS # | CV26060040 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1956 |
| Days On Site | 157 |
| Listing Provided By | RE/MAX 2000 REALTY | Kristopher German |
Features
| SQ Feet | 8,208 |
|---|---|
| Pool | Yes |
| Story(s) | 2 |
| Units | 16 |
| Building(s) | 2 |
| Zoning | DOR3 |
| Acreage | 0.34 |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Cooling Yes / No | Yes |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Lot Features | Zero To One Unit Acre |
| Fencing | None |
Parking
| Parking Features | Assigned, Asphalt |
|---|---|
| Garage Yes / No | No |
Utilities
| Utilities | Electricity Available, Natural Gas Available, Sewer Available, Water Available |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Street Lights |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Downey |
| Zip Code | 90241 |
| Area | D3 Southwest Downey | S of Firestone | W of Downey |
| Listing VS Median (in 90241) | |
Price: $3,550,000 low | high Med: $3,025,000 sqft: 8,208 low | high Med: 6,693 $ / sqft: $433 low | high Med: $468 On site: 157 low | high Med: 174 | |
Market Activity 90241
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Downey |
| Zip Code | 90241 |
| Area | D3 Southwest Downey | S of Firestone | W of Downey |
| Listing VS Median (in 90241) | |
Price: $3,550,000 low | high Med: $3,025,000 sqft: 8,208 low | high Med: 6,693 $ / sqft: $433 low | high Med: $468 On site: 157 low | high Med: 174 | |
