Seller's Agent in 2018
Rick Raymundo
Marcus & Millichap
(818) 219-6146
68 Total Sales
11503 Old River School Rd Downey, CA 90241
16
Beds
16
Baths
8,208
Sq Ft
13,985
Sq Ft
About This Home
As of November 2018We are pleased to present 11503 Old River School Road, a 16-unit multifamily property in the heart of Downey that is not subject to Los Angeles rent control. Situated on a large 13,985 square foot corner lot near the intersection of Firestone Boulevard and Old River School Road, the two buildings provide a rare opportunity for an owner to capitalize on approximately 21% rent upside in a non-rent controlled investment.Deferred maintenance is significantly reduced thanks to the new electrical upgrades and new roof installed in 2016, along with the fact that the property is not on the Los Angeles seismic retrofit list (Buyer to verify). To capitalize on recent rent growth in the Downey area and truly maximize income, a new investor can add value through additional interior and exterior renovations. Two separate on-site laundry rooms provide additional income streams to the property owner.
Last Agent to Sell the Property
Marcus & Millichap License #01357019 Listed on: 08/27/2018
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1957
Lot Details
- 0.32
Interior Spaces
- 8,208 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 16 Bedrooms
- 16 Bathrooms
Parking
- 16 Parking Spaces
- Uncovered Parking
Additional Features
- 0.32 Acre Lot
- Air Conditioning
Community Details
- 2 Buildings
- 16 Units
Listing and Financial Details
- Assessor Parcel Number 6231-003-013
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/13/2018 11/13/18 | Sold | $3,200,000 | -7.9% | $390 / Sq Ft |
| 08/27/2018 08/27/18 | For Sale | $3,475,000 | -- | $423 / Sq Ft |
Source: The MLS
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $46,341 | $3,597,545 | $780,861 | $2,816,684 |
| 2024 | $46,341 | $3,527,005 | $765,550 | $2,761,455 |
| 2023 | $44,788 | $3,457,849 | $750,540 | $2,707,309 |
| 2022 | $42,600 | $3,390,049 | $735,824 | $2,654,225 |
| 2021 | $41,496 | $3,323,579 | $721,397 | $2,602,182 |
| 2020 | $40,887 | $3,289,500 | $714,000 | $2,575,500 |
| 2019 | $40,452 | $3,225,000 | $700,000 | $2,525,000 |
| 2018 | $27,647 | $2,124,517 | $1,456,560 | $667,957 |
| 2016 | $26,742 | $2,042,020 | $1,400,000 | $642,020 |
| 2015 | $14,600 | $1,003,013 | $313,439 | $689,574 |
| 2014 | $13,956 | $983,367 | $307,300 | $676,067 |
Source: Public Records
Agents Affiliated with this Home
-
Rick Raymundo
Map
Source: The MLS
MLS Number: 18-380098
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