NOT LISTED FOR SALE

12066 Paramount Blvd Downey, CA 90242

3 Beds
3 Baths
16,346 Sq Ft
0.51 Acres

Last Sold May 24, 2016

Last sale price $4,450,000 $272 Per Sq Ft

22 Days on Market

About This Home

As of May 2016

Shady Lane is a great opportunity for an astute investor to take advantage of the strong rental market in order to re-position the property. Having been owned by the same partnership long term, the rents are over 40% below market. A value-add strategy can result in an above market return through aggressive management and property upgrades. Shady Lane is located on Paramount Blvd., a major thoroughfare running through the city of Downey, giving Shady Lane great frontage for prospective tenants. With its inviting unit mix of one and two-bedroom apartments, Shady Lane can attract a variety of quality tenants, making this property a great building to own and operate. CAP rate and Gross Rent Multiplier are based on market rents.

Last Agent to Sell the Property

Chris Keramati

Triqor Group License #01702116 Listed on: 03/02/2016

Last Buyer's Agent

Chris Keramati

Triqor Group License #01702116 Listed on: 03/02/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 0.51 Acre Lot
  • No Common Walls
  • Density is 21-25 Units/Acre

Home Design

  • 16,346 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Parking

  • 44 Parking Spaces
  • 22 Carport Spaces

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 17
  • Tax Tract Number 5512
  • Assessor Parcel Number 6259004017

Community Details

Overview

  • 22 Units

Building Details

  • 22 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $2,112
  • Insurance Expense $5,810
  • Professional Management Expense $12,000
  • Trash Expense $4,224
  • Water Sewer Expense $4,224
  • New Taxes Expense $51,907
  • Gross Income $21,915
  • Net Operating Income $141,454

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Listing Details

  • CapRate: 5.60
  • Professional Management Expense: 12000.00
  • Property Attached: No
  • Water Sewer Expenses: 4224.00
  • Property Type: Residential Income
  • Parcel Number: 6259004017
  • Year Built: 1960
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 272.24

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 22.00
  • Total Parking Spaces: 44.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 4224.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights

Lot Info

  • Lot Features: 21-25 Units/Acre, Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 22215.00
  • Price Per Lot Square Foot: 200.32
  • Lot Size Acres: 0.5100

Multi Family

  • Electric Expense: 2112.00
  • Gross Income: 21915.00
  • Gross Multiplier: 11.79
  • Gross Scheduled Income: 262980.00
  • Insurance Expense: 5810.00
  • Lot Size Area: 22215.0000 Square Feet
  • Net Operating Income: 141454.00
  • Number Of Separate Electric Meters: 22
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 22
  • Operating Expense: 113636.00
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 51907.00
  • Tax Lot: 17
  • Tax Tract Number: 5512

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 Change Sq Ft Price
05/24/2016 05/24/16 Sold $4,450,000 0.0% $272 / Sq Ft
03/24/2016 03/24/16 Pending -- -- --
03/02/2016 03/02/16 For Sale $4,450,000 -- $272 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Chris Keramati

    Seller's Agent in 2016

    Chris Keramati

    Triqor Group

    (949) 756-3232

    3 in this area

    20 Total Sales

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16044712

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Downey 90242

12066 Paramount Blvd, Downey, CA

This home is located at 12066 Paramount Blvd, Downey, CA 90242 since 02 March 2016. This property was built in 1960. 12066 Paramount Blvd is a home located in Los Angeles County with nearby schools including Imperial Elementary School, Old River Elementary School, and West Middle School.

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California Regional Multiple Listing Service (CRMLS) 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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