7370 Neo St Downey, CA 90241
Estimated payment $32,969/month
Highlights
- No HOA
- Community Pool
- Laundry Room
- Williams Elementary School Rated 9+
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
About This Home
Prime Investment Opportunity in the Heart of Downey
Welcome to 7370 Neo Street, a well-maintained multifamily gem located in one of Downey’s most desirable residential neighborhoods. This income-producing property features 14 spacious units, each offering comfortable layouts, private entrances, and dedicated parking. Nestled on a 13,068 sf lot, the property provides a rare combination of location, stability, and upside potential.
10 units are 2-bed, 1.5-bath and 4 units are 3-bed, 1.5 bath, and several have been recently updated with modern finishes, upgraded kitchens, newer flooring, and refreshed bathrooms (see interior pics). On-site amenities include [laundry facilities, carports, private yards, 14 parking spaces. Tenants enjoy walking distance to local schools, shopping centers, restaurants, and close to the 105, 605, and 5 freeways—making this a prime location for commuters and families alike.
With strong rental income, long-term tenants, and potential for increased cash flow, 7370 Neo Street is ideal for investors seeking solid returns in a low-vacancy, high-demand rental market. Whether you’re expanding your portfolio or making your first multifamily acquisition, this property delivers.
Don’t miss your chance to own a rare multifamily opportunity in one of Southeast LA County’s most stable and sought-after submarkets!
Listing Agent
American Realty Associates Brokerage Phone: 949-275-2701 License #01804935 Listed on: 07/29/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1957
Lot Details
- 0.3 Acre Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 11,344 Sq Ft Home
- 2-Story Property
- Laundry Room
Kitchen
- Electric Oven
- Built-In Range
- Disposal
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Bathrooms
Parking
- 10 Open Parking Spaces
- 14 Parking Spaces
- 4 Carport Spaces
- Parking Available
- Assigned Parking
Location
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
Listing and Financial Details
- Tax Lot 4
- Tax Tract Number 16372
- Assessor Parcel Number 6231006002
- $3,970 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 14 Units
Amenities
- Laundry Facilities
Recreation
- Community Pool
Building Details
- 14 Leased Units
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $2,282
- Fuel Expense $25
- Insurance Expense $3,500
- Maintenance Expense $249
- Other Expense $34,767
- Pest Control $213
- Professional Management Expense $20,700
- Trash Expense $5,058
- Water Sewer Expense $2,075
- Operating Expense $33,640
- Gross Income $353,822
- Net Operating Income $285,165
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/29/2025 07/29/25 | For Sale | $5,249,000 | -- | $463 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC25168654
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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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