8127 Stewart And Gray Road Pending Save Request In-Person Tour Request Virtual Tour
Downey,CA 90241
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Pending
Purchase Type For Sale
Square Footage 10,929 sqft
Price per Sqft $407
MLS Listing ID CRPW22211146
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1964
Lot Size 0.447 Acres
Property Sub-Type Comm Ind For Sale
Property Description
We are pleased to present Downey Palms, a 16-unit apartment community, located in Downey, CA. At a 4% CAP rate on current income, and with approximately 30% upside on rents, this property is priced under recent & relevant sales comps. 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.
Location
State CA
County Los Angeles
Interior
Fireplace No
Building
Water Public