NOT LISTED FOR SALE

12441 Old River School Rd Downey, CA 90242

7 Beds
6 Baths
44,570 Sq Ft
1.67 Acres

Last Sold December 02, 2013

Last sale price $9,700,000 $218 Per Sq Ft

39 Days on Market

About This Home

As of December 2013

Application Fee: $62.00, effective immediately, non-refundable.

Open house hours or by appointment only
Monday • 6:00 pm to 7:00 pm
Wednesday • 9:00 am to 5:00pm
Friday • 9:00 am to 5:00 pm
Saturday by appointment
Call Now and make your appointment
Welcome to the Velvet Green Apartments.

Velvet Green offers spacious one- and two-bedroom apartments. Each unit comes with air conditioning, ceiling fans, central / wall heaters, hardwood and carpet flooring, and a garbage disposal. Enjoy a beautiful swimming pool, fitness room, two BBQ stations, 24-hour laundry facility, maintenance service, assigned parking, gated community, on-site manager, and much more.

This property is conveniently located close to the 5 and 710 Freeways, and near Downtown Downey, where you can find great restaurants, shopping centers, movie theaters, and more.

Don't miss out—call now to schedule your appointment! Applications are available online. Please click the link below:


Building Amenities:
Laundry room, Pool, Fitness Center, air conditioning, ceiling fans, central / wall heaters, hardwood and carpet flooring, swimming pool, fitness room, two BBQ stations, 24-hour laundry facility, maintenance service, gated community, on-site manager

Building Appliances:
Garbage Disposal,Stove

MANAGED BY: Mashcole Property Management INC

IT491121 - IT49MC207

Last Agent to Sell the Property

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 09/05/2013

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969 | Remodeled

Lot Details

  • 1.67 Acre Lot
  • 1 Common Wall
  • Corner Lot

Home Design

  • 44,570 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Parking

  • 98 Parking Spaces
  • 49 Carport Spaces

Pool

  • Private Pool

Listing and Financial Details

  • Tax Lot C
  • Assessor Parcel Number 6233034001

Community Details

Overview

  • 49 Units

Recreation

  • Community Pool

Building Details

  • 50 Separate Electric Meters
  • 50 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $15,000
  • Maintenance Expense $17,146
  • Other Expense $40,971
  • Professional Management Expense $23,931
  • Trash Expense $10,899
  • Water Sewer Expense $10,899
  • New Taxes Expense $116,259
  • Gross Income $68,530
  • Net Operating Income $539,229

Property Details

Home Type

Multi-Family

Year Built

Built in 1969 | Remodeled

Lot Details

0

Listing Details

  • CapRate: 5.50
  • Professional Management Expense: 23931.00
  • Property Attached: Yes
  • Water Sewer Expenses: 10899.00
  • Property Condition: Updated/Remodeled
  • Property Type: Residential Income
  • Parcel Number: 6233034001
  • Year Built: 1969
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Three Or More
  • Price Per Square Foot: 217.64

Exterior Features

  • Pool Features: Community
  • Pool Private: Yes

Garage/Parking

  • Carport Spaces: 49.00
  • Total Parking Spaces: 98.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 10899.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 72745.00
  • Lot Size Acres: 1.6700

Multi Family

  • Gross Income: 68530.00
  • Gross Multiplier: 11.86
  • Gross Scheduled Income: 822360.00
  • Gross Spendable Income: 159937.00
  • Insurance Expense: 15000.00
  • Lot Size Area: 1.6700 Acres
  • Maintenance Expense: 17146.00
  • Net Operating Income: 539229.00
  • Number Of Separate Electric Meters: 50
  • Number Of Separate Gas Meters: 50
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 49
  • Operating Expense: 258460.00
  • Operating Expense Percent: 31.40
  • Other Expense: 40971.00
  • Other Expense Description: Admin
  • Other Income Description: Laundry, Rubs, Etc.
  • Rent Control: No
  • Total Actual Rent: 65149.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 116259.00
  • Tax Lot: C
  • Tax Tract Number: C

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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 List to Sale Price per Sq Ft
03/05/2025 03/05/25 Off Market -- -- --
02/11/2025 02/11/25 For Rent -- -- --
08/23/2022 08/23/22 For Rent -- -- --
12/02/2013 12/02/13 Sold $9,700,000 -0.5% $218 / Sq Ft
10/14/2013 10/14/13 Pending -- -- --
09/05/2013 09/05/13 For Sale $9,750,000 -- $219 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13181010

California Regional Multiple Listing Service (CRMLS)