Sold
8127 Stewart And Gray Road
Downey CA, 90241
$4,400,000
$402.60 per sqft
Sold
10,929 sqft
Residential
Built in 1964
Listed by Chris Keramati with Triqor Group 949-756-3232
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.
PW22093167
MLSⓇ ID
May 4, 2022
Listed
March 23, 2024
Updated
Map
8127 Stewart And Gray Road
Downey CA, 90241
Interior Features
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.45 Acres
Lot Features
Rectangular Lot
Sewer
Public Sewer
Other Property Details
Area Name
D3 - Southwest Downey, S of Firestone, W of Downey
Days on Market
78
Garage
No
Parking Total
19
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
DOR3-P*
Buyer Agency Compensation
2%
Listing Contact: 949-756-3232
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:40 AM UTC