10611-10617 Western Ave
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10611-10617 Western Ave
8 Unit Apartment Building $2,750,000 ($343,750/Unit) 5.45% Cap Rate Downey, CA 90241
Investment Highlights
- Rare Opportunity to Acquire Side by Side Fourplexes in Prime North-Downey Location
- Possible New Residential Financing by Placing Separate Loans on Each Fourplex
- 2:1 Parking Ratio
- All ±1,000 Square Foot, 2-Bedroom/2-Bath Units
- First Time on the Market in 30+ Years
- Substantial Upside in Rents
Executive Summary
Introducing a prime investment opportunity in the heart of Downey, CA. This meticulously maintained property offers a 7,988 SF building comprising 8 units, each with a long history of 100% occupancy. Built in 1968, the property showcases timeless architecture and thoughtful design elements. Situated in a sought-after location, this multifamily gem presents a lucrative prospect for low-rise/garden investors seeking a stable and reliable income stream. With a strong rental history and attractive features, this property exemplifies the potential for sustained growth and profitability in the thriving Downey market.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$225,444
|
$28.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,763
|
$0.85
|
| Effective Gross Income |
$218,681
|
$27.38
|
| Taxes |
$34,385
|
$4.30
|
| Operating Expenses |
$34,511
|
$4.32
|
| Total Expenses |
$68,896
|
$8.62
|
| Net Operating Income |
$149,785
|
$18.75
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $225,444 |
| Annual Per SF | $28.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,763 |
| Annual Per SF | $0.85 |
| Effective Gross Income | |
|---|---|
| Annual | $218,681 |
| Annual Per SF | $27.38 |
| Taxes | |
|---|---|
| Annual | $34,385 |
| Annual Per SF | $4.30 |
| Operating Expenses | |
|---|---|
| Annual | $34,511 |
| Annual Per SF | $4.32 |
| Total Expenses | |
|---|---|
| Annual | $68,896 |
| Annual Per SF | $8.62 |
| Net Operating Income | |
|---|---|
| Annual | $149,785 |
| Annual Per SF | $18.75 |
Property Facts In Escrow
| Price | $2,750,000 | Property Subtype | Apartment |
| Price Per Unit | $343,750 | Apartment Style | Low Rise |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 5.45% | Building Size | 7,988 SF |
| Gross Rent Multiplier | 12.2 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1968 |
| Property Type | Multifamily | Parking Ratio | 2/1,000 SF |
| Price | $2,750,000 |
| Price Per Unit | $343,750 |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 12.2 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.34 AC |
| Building Size | 7,988 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 2/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Refrigerator
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | $2,306 | 998 |
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Walk Score ®
Very Walkable (80)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,162,481 (2024) | |
| Land Assessment | $380,162 (2024) | Annual Taxes | $34,385 ($4.30/SF) |
| Improvements Assessment | $782,319 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$380,162 (2024)
Improvements Assessment
$782,319 (2024)
Total Assessment
$1,162,481 (2024)
Annual Taxes
$34,385 ($4.30/SF)
Tax Year
2023
-
Doug Rodermund -
Jay Skenderian -
Morgan-Skenderian Investment Real Estate Group
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10611-10617 Western Ave
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