NOT LISTED FOR SALE

10459 Downey Ave Downey, CA 90241

5 Beds
5 Baths
11,076 Sq Ft
0.37 Acres

Last Sold November 12, 2014

Last sale price $3,145,000 $284 Per Sq Ft

51 Days on Market

About This Home

As of November 2014

Located in North Downey among multimillion dollar historic homes, directly next door to Our Lady of Perpetual Help private school, and across the street from the landmark architecture of the First Presbyterian Church of Downey—this property offers a buyer the opportunity to purchase a rare gem in an excellent rental market. The subject property has prime street exposure along Downey Avenue, the main thoroughfare and most prestigious street to own apartments on in the region. The property consists of (2) studios, (6) one-bedrooms/one bath, (6) two bedrooms/one bath and (2) two bedroom/two bath + dens. There is new lush landscaping throughout the community along with a new luxurious brick courtyard and walkways, providing tenants with an atmosphere of quiet enjoyment with a modern feel. The owners have recently upgraded the interiors of the units and installed new copper plumbing. The exterior has been extensively renovated as well, with a new modern paint scheme being implemented, new parking lot surface, new sewer line and other improvements.

Last Agent to Sell the Property

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 07/22/2014

Last Buyer's Agent

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 07/22/2014

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 0.37 Acre Lot
  • 1 Common Wall
  • Density is 16-20 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 11,076 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Parking

  • 16 Parking Spaces
  • 10 Carport Spaces

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Assessor Parcel Number 6252024006
  • Tax Block 6

Community Details

Overview

  • 2 Buildings
  • 16 Units

Building Details

  • 17 Separate Electric Meters
  • 17 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $2,769
  • Maintenance Expense $11,372
  • Other Expense $1,600
  • Pest Control $480
  • Trash Expense $3,500
  • Water Sewer Expense $3,500
  • New Taxes Expense $37,543
  • Gross Income $18,953
  • Net Operating Income $155,049

Property Details

Home Type

Multi-Family

Year Built

Built in 1949

Lot Details

0

Listing Details

  • CapRate: 4.90
  • Property Attached: Yes
  • Water Sewer Expenses: 3500.00
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 6252024006
  • Year Built: 1949
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 283.95

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 10.00
  • Total Parking Spaces: 16.00

Utilities

  • Utilities: Sewer Available
  • Pest Control Expense: 480.00
  • Trash Expense: 3500.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 16294.00
  • Lot Size Acres: 0.3740

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 18953.00
  • Gross Multiplier: 13.98
  • Gross Scheduled Income: 227436.00
  • Gross Spendable Income: 59628.00
  • Insurance Expense: 2769.00
  • Lot Size Area: 16294.0000 Square Feet
  • Maintenance Expense: 11372.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 155049.00
  • Number Of Separate Electric Meters: 17
  • Number Of Separate Gas Meters: 17
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 16
  • Operating Expense: 65564.00
  • Operating Expense Percent: 28.80
  • Other Expense: 1600.00
  • Other Expense Description: Ad/Admin
  • Rent Control: No
  • Total Actual Rent: 18753.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 37543.00
  • Tax Block: 6

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/12/2014 11/12/14 Sold $3,145,000 -1.1% $284 / Sq Ft
09/11/2014 09/11/14 Pending -- -- --
07/22/2014 07/22/14 For Sale $3,180,000 -- $287 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Doug Rodermund

    Seller's Agent in 2014

    Doug Rodermund

    Morgan Skenderian

    (949) 295-8560

    31 Total Sales

    Doug Rodermund
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14155493

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Downey 90241

10459 Downey Ave, Downey, CA

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