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8127 Stewart And Gray Road, Downey, CA 90241

$4,600,000
List Price
$4,600,000
Status
ACTIVE
MLS#
PW22093167
Year Built
1964
Lot Size
19,578
Acres
0.4494
Lot Location
Rectangular Lot
Days on Market
13
Property Type
Multifamily

Property Description

Pleased to present Downey Palms, a 16-unit apartment community located in Downey, CA. The building is composed of a studio, 1-bedrooms (13), a 2-bedroom, and a large 3-bedroom 2.5-bath. The units feature A/C wall units, ceiling fans, laminate wood floors (some units), and gas cooking. The property presents a leased laundry facility, a combination of tuck under and open parking, a partially replaced roof, individual gas and electric meters, and copper plumbing. With approximately 35% upside in rental income, an investor will achieve well-over a 5% cap rate once they stabilize the asset.

Additional Information

Pool Description
None
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
16
Gross Scheduled Income
$268,308
Operating Expense
102597

Mortgage Calculator

Amount of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: Chris Keramati from Listing Office: Triqor Group

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.