11523 Old River School Rd Downey, CA 90241
Highlights
- Private Pool
- No HOA
- Laundry Room
- Williams Elementary School Rated 9+
- Cooling System Mounted To A Wall/Window
About This Home
Just Listed! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, priced aggressively at $237,500 per unit. This well-located asset features 16 1-Bed/1-Bath units, and a non-conforming Studio unit, all totaling 8,208 rentable square feet on an expansive 14,604 sq. ft. lot, offering an efficient layout that consistently attracts tenant demand. Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and retention. The property is currently delivering a 5.71% CAP Rate and 10.63 GRM, providing strong in-place returns with long-term investment stability. Rare additional opportunity: The adjacent property located at 11515 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 solid fundamentals, desirable unit mix, and an attractive price point, making it an excellent acquisition for investors focused on both cash flow 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 1956
Lot Details
- 0.34 Acre 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
- 8,208 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Bathrooms
Parking
- 16 Open Parking Spaces
- 16 Parking Spaces
- Parking Available
- Driveway
- Assigned Parking
Outdoor Features
- Private Pool
- Exterior Lighting
Utilities
- Cooling System Mounted To A Wall/Window
Listing and Financial Details
- Legal Lot and Block 6231 / 003
- Tax Tract Number 10
- Assessor Parcel Number 6231003010
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 16 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $6,000
- Fuel Expense $6,000
- Insurance Expense $8,500
- Maintenance Expense $12,000
- Other Expense $17,100
- Pool Expense $6,855
- Professional Management Expense $13,875
- Trash Expense $6,000
- Water Sewer Expense $6,000
- New Taxes Expense $45,330
- Operating Expense $130,060
- Gross Income $357,600
- Net Operating Income $216,812
Map
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/19/2026 03/19/26 | For Sale | $3,800,000 | -- | $463 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV26060040
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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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