Property Detail

Description

Just Listed! Exceptional opportunity to acquire a 10-unit multifamily property in the highly desirable city of Downey, offered for sale by the original builder for the first time since its construction in 1977. Priced at $2,925,000, this investment delivers an attractive 6% current CAP Rate and 11.48 GRM, providing investors with strong day-one cash flow in one of Southeast Los Angeles County's most sought-after rental markets. Built in 1977, the property features an excellent unit mix consisting of one 3-Bedroom/2-Bath unit and nine 2-Bedroom/1-Bath units, offering spacious floor plans that appeal to discerning renters seeking comfortable living accommodations. The property encompasses approximately 8,186 rentable square feet on a generous 20,544 sq. ft. lot, providing ample space for parking and resident amenities. Tenants enjoy onsite garage, carport, and open-space parking, along with a convenient onsite laundry facility. Additional property features include copper plumbing and air conditioning in all units, amenities that enhance the property's overall appeal and distinguish it from many competing apartment communities. Ideally situated just minutes from Downey Landing and the Promenade at Downey, residents benefit from convenient access to popular shopping, dining, entertainment, and everyday necessities. Combining 1977 construction, a desirable unit mix, strong current financial performance, and an excellent Downey location, this pride-of-ownership property presents a rare opportunity to acquire a well-established multifamily asset directly from its original builder.