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The Carolinas 10518-10524 Western Ave

12 Unit Apartment Building $3,700,000 ($308,333/Unit) 5.57% Cap Rate Downey, CA 90241

Apartment Buildings California Downey 10518-10524 Western Ave, Downey, CA 90241

Investment Highlights

  • Rare Opportunity to Acquire Prime Multifamily Asset in North-Downey Location
  • Mix of 1 & 2-Bedroom Units with Massive Floorplans
  • Over 2:1 Parking Ratio
  • First Time on the Market in 30+ Years
  • ±1,556 Square Foot Owners-Unit
  • Ideal 1973 Vintage Construction

Executive Summary

Morgan Skenderian is pleased to present The Carolinas. This well-maintained ±11,059SF building, constructed in 1973, features 12 spacious units, making it an attractive option for multifamily, low-rise, and garden-style investors. Each unit offers modern amenities and ample natural light, while the property's convenient location provides easy access to essential services and major transportation routes. With a proven track record of strong rental demand in the area, this property presents a promising prospect for investors seeking to capitalize on the robust multifamily real estate market in Downey.

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income $301,020 $29.82
Other Income - -
Vacancy Loss $9,030 $0.89
Effective Gross Income $291,990 $28.92
Taxes $47,071 $4.66
Operating Expenses $38,964 $3.86
Total Expenses $86,035 $8.52
Net Operating Income $205,955 $20.40

Financial Summary (Actual - 2023)

Gross Rental Income
Annual $301,020
Annual Per SF $29.82
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual $9,030
Annual Per SF $0.89
Effective Gross Income
Annual $291,990
Annual Per SF $28.92
Taxes
Annual $47,071
Annual Per SF $4.66
Operating Expenses
Annual $38,964
Annual Per SF $3.86
Total Expenses
Annual $86,035
Annual Per SF $8.52
Net Operating Income
Annual $205,955
Annual Per SF $20.40

Property Facts

Price $3,700,000 Apartment Style Garden
Price Per Unit $308,333 Building Class C
Sale Type Investment Lot Size 0.40 AC
Cap Rate 5.57% Building Size 10,095 SF
Gross Rent Multiplier 12.29 No. Stories 2
No. Units 12 Year Built 1973
Property Type Multifamily Parking Ratio 2.48/1,000 SF
Property Subtype Apartment
Price $3,700,000
Price Per Unit $308,333
Sale Type Investment
Cap Rate 5.57%
Gross Rent Multiplier 12.29
No. Units 12
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.40 AC
Building Size 10,095 SF
No. Stories 2
Year Built 1973
Parking Ratio 2.48/1,000 SF

Unit Amenities

  • Refrigerator

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 7 $1,856 800
2+2 5 $2,349 975 - 1,556
1 of 1
Walk Score ®
Very Walkable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 6252-026-030 Total Assessment $3,484,655 (2024)
Land Assessment $1,340,252 (2024) Annual Taxes $47,071 ($4.66/SF)
Improvements Assessment $2,144,403 (2024) Tax Year 2023

PROPERTY TAXES

Parcel Number
6252-026-030
Land Assessment
$1,340,252 (2024)
Improvements Assessment
$2,144,403 (2024)
Total Assessment
$3,484,655 (2024)
Annual Taxes
$47,071 ($4.66/SF)
Tax Year
2023

zoning

Zoning Code R3
R3
(949) 295-8560

  • Listing ID: 33760184

  • Date on Market: 11/5/2024

  • Last Updated:

  • Address: 10518-10524 Western Ave, Downey, CA 90241

More public record information on 10518-10524 Western Ave, Downey, CA 90241

The Multifamily Property at 10518-10524 Western Ave, Downey, CA 90241 is currently available For Sale. Contact Morgan-Skenderian Investment Real Estate Group for more information.

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The Carolinas | 10518-10524 Western Ave
(949) 295-8560 x

The Carolinas | 10518-10524 Western Ave

1/2

Doug Rodermund

(949) 295-8560

(949) 295-8560

Jay Skenderian

(949) 251-8800

x108

(949) 251-8800 x108

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