Seller's Agent in 2016
Chris Keramati
Triqor Group
(949) 756-3232
22 Total Sales
12066 Paramount Blvd Downey, CA 90242
3
Beds
3
Baths
16,346
Sq Ft
0.51
Acres
About This Home
As of May 2016Shady 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.
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
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
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 | $64,974 | $5,060,727 | $2,024,289 | $3,036,438 |
| 2024 | $64,974 | $4,961,498 | $1,984,598 | $2,976,900 |
| 2023 | $62,789 | $4,864,215 | $1,945,685 | $2,918,530 |
| 2022 | $59,707 | $4,768,839 | $1,907,535 | $2,861,304 |
| 2021 | $58,151 | $4,675,333 | $1,870,133 | $2,805,200 |
| 2019 | $56,692 | $4,540,443 | $1,814,665 | $2,725,778 |
| 2018 | $55,474 | $4,451,490 | $1,779,084 | $2,672,406 |
| 2016 | $9,170 | $447,412 | $96,282 | $351,130 |
| 2015 | $9,031 | $440,692 | $94,836 | $345,856 |
| 2014 | $8,814 | $432,061 | $92,979 | $339,082 |
Source: Public Records
Agents Affiliated with this Home
-
Chris Keramati
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW16044712
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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