11523 Old River School Rd Downey, CA 90241
Estimated payment $22,390/month
Highlights
- Private Pool
- No HOA
- Cooling System Mounted To A Wall/Window
- Williams Elementary School Rated 9+
About This Home
NEW Price: Now Offering a 6.34% CAP Rate! 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 16 1-Bed/1-Bath units plus a non-conforming studio (stand alone structure ideal for ADU conversion - check with proper city authorities), totaling 8,208 rentable square feet on an expansive 14,604 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents enjoy a full range of amenities including onsite parking, an onsite laundry facility, and a sparkling swimming pool, recently resurfaced with a new security gate being installed. Additional recent improvements include all staircases replaced for second-floor access, enhancing both safety and long-term durability. The property is now delivering a 6.34% CAP Rate and 9.84 GRM, providing improved in-place returns and stronger day-one cash flow following the price adjustment. Rare additional opportunity: The adjacent property 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 improved pricing, recent capital improvements, and strong fundamentals, making it a compelling acquisition for investors focused on immediate income and long-term 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
- 14,604 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
- 8,208 Sq Ft Home
- 2-Story Property
- Laundry in unit
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 $3,650
- Fuel Expense $3,840
- Insurance Expense $8,500
- Maintenance Expense $12,000
- Other Expense $17,700
- Pool Expense $6,855
- Professional Management Expense $13,994
- Trash Expense $10,050
- Water Sewer Expense $2,460
- New Taxes Expense $42,348
- Operating Expense $124,596
- Gross Income $360,660
- Net Operating Income $225,244
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 |
|---|---|---|---|---|
| 06/02/2026 06/02/26 | Pending | -- | -- | -- |
| 05/22/2026 05/22/26 | For Sale | $3,550,000 | -3.9% | $433 / 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% | $450 / Sq Ft |
| 04/23/2026 04/23/26 | For Sale | $3,695,000 | -2.8% | $450 / Sq Ft |
| 04/17/2026 04/17/26 | Off Market | $3,800,000 | -- | -- |
| 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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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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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