10611-10617 Western Ave
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10611-10617 Western Ave
8 Unit Block of Flats £2,154,075 (£269,259/Unit) 5.45% Net Initial Yield 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 |
£176,590
|
£22.11
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£5,297
|
£0.66
|
| Effective Gross Income |
£171,293
|
£21.44
|
| Taxes |
£26,934
|
£3.37
|
| Operating Expenses |
£27,032
|
£3.38
|
| Total Expenses |
£53,966
|
£6.76
|
| Net Operating Income |
£117,327
|
£14.69
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £176,590 |
| Annual Per SF | £22.11 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £5,297 |
| Annual Per SF | £0.66 |
| Effective Gross Income | |
|---|---|
| Annual | £171,293 |
| Annual Per SF | £21.44 |
| Taxes | |
|---|---|
| Annual | £26,934 |
| Annual Per SF | £3.37 |
| Operating Expenses | |
|---|---|
| Annual | £27,032 |
| Annual Per SF | £3.38 |
| Total Expenses | |
|---|---|
| Annual | £53,966 |
| Annual Per SF | £6.76 |
| Net Operating Income | |
|---|---|
| Annual | £117,327 |
| Annual Per SF | £14.69 |
Property Facts In Escrow
| Price | £2,154,075 | Property Subtype | Apartment |
| Price Per Unit | £269,259 | Apartment Style | Low Rise |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Net Initial Yield | 5.45% | Building Size | 7,988 SF |
| Gross Rent Multiplier | 12.2 | Number of Floors | 2 |
| No. Units | 8 | Year Built | 1968 |
| Property Type | Residential | Parking Ratio | 2/1,000 SF |
| Price | £2,154,075 |
| Price Per Unit | £269,259 |
| Sale Type | Investment |
| Net Initial Yield | 5.45% |
| Gross Rent Multiplier | 12.2 |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.34 AC |
| Building Size | 7,988 SF |
| Number of Floors | 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 | £1,806 | 998 |
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Walk Score ®
Very Walkable (80)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £910,571 (2024) | |
| Land Assessment | £297,781 (2024) | Annual Taxes | £26,934 (£3.37/sf) |
| Improvements Assessment | £612,790 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£297,781 (2024)
Improvements Assessment
£612,790 (2024)
Total Assessment
£910,571 (2024)
Annual Taxes
£26,934 (£3.37/sf)
Tax Year
2023
Contacts
-
Doug Rodermund -
Jay Skenderian -
Morgan-Skenderian Investment Real Estate Group
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10611-10617 Western Ave
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