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11503 Old River School Rd
Downey, CA 90241
Non-Rent Control Opportunity w/Rent Upside · Multifamily Property For Sale · 16 Units
PROPERTY FACTS
No. Units | 16 | Lot Size | 0.32 AC |
Property Type | Multifamily | Building Size | 8,208 SF |
Property Subtype | Apartment | No. Stories | 2 |
Apartment Style | Low Rise | Year Built | 1957 |
Building Class | C | Parking Ratio | 0.81/1,000 SF |
No. Units | 16 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.32 AC |
Building Size | 8,208 SF |
No. Stories | 2 |
Year Built | 1957 |
Parking Ratio | 0.81/1,000 SF |
Site Amenities
- Laundry Facilities
About 11503 Old River School Rd , Downey, CA 90241
Marcus & Millichap is pleased to present 11503 Old River School Road, a 16-unit multifamily property in the heart of Downey that is not subject to Los Angeles rent control. Situated on a large 13,985 square foot corner lot near the intersection of Firestone Boulevard and Old River School Road, the two buildings provide a rare opportunity for an owner to capitalize on approximately 21% rent upside in a non-rent controlled investment. Deferred maintenance is significantly reduced thanks to the new electrical upgrades and new roof installed in 2016, along with the fact that the property is not on the Los Angeles seismic retrofit list (Buyer to verify). To capitalize on recent rent growth in the Downey area and truly maximize income, a new investor can add value through additional interior and exterior renovations. Two separate on-site laundry rooms provide additional income streams to the property owner. In 2017 the city of Downey was voted the “Most Business-Friendly City” by the Los Angeles Economic Development Corporation. Located between two golf courses and just blocks from the famous Porto’s Bakery, the property is also only one mile from the 710 Freeway. It provides tenants convenient access to Target, Walmart, and Sam’s Club, while the property is less than three miles from Downey Landing and the Downey Promenade, a major shopping destination with a state-of-the-art movie theater and 20 restaurants offering a tribute to Downey’s history as home to major movie studios and the aerospace industry.
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 16 | $1,061 | 500 |
Links
PROPERTY TAXES
Parcel Number | 6231-003-013 | Improvements Assessment | $3,883,710 |
Land Assessment | $1,076,669 | Total Assessment | $4,960,380 |
PROPERTY TAXES
zoning
Zoning Code | R3, Downey |
R3, Downey |
Listing ID: 13615366
Date on Market: 2018-08-28
Last Updated:
Address: 11503 Old River School Rd, Downey, CA 90241
The Multifamily Property at 11503 Old River School Rd, Downey, CA 90241 is no longer being advertised on LoopNet.ca. Contact the broker for information on availability.
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