11517 Old River School Rd Downey, CA 90241
Downey AreaEstimated payment $23,044/month
Highlights
- No HOA
- Cooling System Mounted To A Wall/Window
- Laundry Facilities
- Priceville Elementary School Rated 10
About This Home
PRICED TO SELL! Now offered at a 6.58% CAP Rate, 10.26 GRM! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, now aggressively priced at $3,550,000. This well-located asset features all 1-Bed/1-Bath units totaling 8,616 rentable square feet on an expansive 14,489 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and long-term retention. The property is now delivering a 6.58% CAP Rate and 10.26 GRM, providing stronger in-place returns and improved cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11523 Old River School Rd is also available for purchase, creating a unique chance to acquire 32 units total, ideal for investors seeking scale, operational efficiency, and long-term portfolio growth in a prime Downey location. Positioned in a high-demand rental market, this offering combines improved pricing, solid fundamentals, and a desirable unit mix, making it a compelling acquisition for investors focused on immediate income and future upside.
Listing Agent
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 03/19/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1957
Lot Details
- 14,489 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Home Design
- Apartment
- Entry on the 1st floor
- Flat Roof Shape
Interior Spaces
- 8,616 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Bathrooms
Parking
- 16 Open Parking Spaces
- 16 Parking Spaces
- Parking Available
- Driveway
- Assigned Parking
Additional Features
- Exterior Lighting
- Cooling System Mounted To A Wall/Window
Listing and Financial Details
- Legal Lot and Block 6321 / 003
- Tax Tract Number 12
- Assessor Parcel Number 6321003012
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 16 Units
Amenities
- Laundry Facilities
Building Details
- 16 Leased Units
- Rent Control
- 17 Separate Electric Meters
- 17 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,250
- Fuel Expense $4,775
- Insurance Expense $8,500
- Maintenance Expense $12,000
- Professional Management Expense $16,773
- Trash Expense $10,125
- Water Sewer Expense $2,850
- New Taxes Expense $42,348
- Operating Expense $102,021
- Gross Income $345,840
- Net Operating Income $233,444
Map
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/01/2026 07/01/26 | Pending | -- | -- | -- |
| 06/16/2026 06/16/26 | For Sale | $3,550,000 | 0.0% | $412 / Sq Ft |
| 06/02/2026 06/02/26 | Pending | -- | -- | -- |
| 05/22/2026 05/22/26 | For Sale | $3,550,000 | -3.9% | $412 / Sq Ft |
| 05/15/2026 05/15/26 | Off Market | $3,695,000 | -- | -- |
| 04/23/2026 04/23/26 | Price Changed | $3,695,000 | 0.0% | $429 / Sq Ft |
| 04/23/2026 04/23/26 | For Sale | $3,695,000 | -2.8% | $429 / Sq Ft |
| 04/17/2026 04/17/26 | Off Market | $3,800,000 | -- | -- |
| 03/19/2026 03/19/26 | For Sale | $3,800,000 | -- | $441 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV26059950
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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