NOT LISTED FOR SALE

7425 Stewart And Gray Rd Downey, CA 90241

3 Beds
2 Baths
13,712 Sq Ft
0.54 Acres

Last Sold November 26, 2013

Last sale price $2,900,000 $211 Per Sq Ft

23 Days on Market

About This Home

As of November 2013

The Royal Orleans Apartments have excellent street exposure along Stewart & Gray Road, one of the main thoroughfares and most desirable streets to own apartments on in Downey. The property features patios and balconies, central heat and air conditioning units, and laundry facilities. The units
have very large open fl oor plans consisting of one bedroom and two-bedroom units. There is new lush landscaping throughout the community, providing tenants with an atmosphere of quiet enjoyment with a modern feel. The property was built in 1969, and has only had two owners during the course of the property’s life. The current owner has recently upgraded the interiors of the units with granite countertops, wood-laminate fl ooring, new stainless steel appliances, paint and carpet among other extensive renovations. The exterior has been renovated as well, with a new modern paint scheme being implemented along with new landscaping and other improvements. Parking consists of carports and open spaces, with 2 parking spaces per unit.

Last Agent to Sell the Property

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 09/10/2013

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 0.54 Acre Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Home Design

  • 13,712 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room

Parking

  • 28 Parking Spaces
  • 14 Carport Spaces

Listing and Financial Details

  • Tax Tract Number 17082
  • Assessor Parcel Number 6248029007

Community Details

Building Details

  • 14 Leased Units
  • 15 Separate Electric Meters
  • 15 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,800
  • Insurance Expense $4,104
  • Maintenance Expense $14,695
  • Other Expense $1,600
  • Pest Control $600
  • Trash Expense $5,625
  • Water Sewer Expense $5,625
  • New Taxes Expense $35,087
  • Gross Income $20,410
  • Net Operating Income $165,988

Additional Features

  • 14 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

0

Listing Details

  • CapRate: 5.70
  • Property Attached: Yes
  • Water Sewer Expenses: 5625.00
  • Property Type: Residential Income
  • Gardener Expense: 1800.00
  • Parcel Number: 6248029007
  • Year Built: 1969
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 211.49

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 14.00
  • Total Parking Spaces: 28.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 600.00
  • Trash Expense: 5625.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 23522.00
  • Lot Size Acres: 0.5400

Multi Family

  • Gross Income: 20410.00
  • Gross Multiplier: 11.98
  • Gross Scheduled Income: 244920.00
  • Gross Spendable Income: 54621.00
  • Insurance Expense: 4104.00
  • Lot Size Area: 23522.0000 Square Feet
  • Maintenance Expense: 14695.00
  • Maintenance Percent: 6.00
  • Net Operating Income: 165988.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 14
  • Number Of Units Total: 14
  • Operating Expense: 69136.00
  • Operating Expense Percent: 28.00
  • Other Expense: 1600.00
  • Other Expense Description: Admin/Ad
  • Rent Control: No
  • Total Actual Rent: 20010.00
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 35087.00
  • Tax Tract Number: 17082

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 List to Sale Price per Sq Ft Prior Sale
11/26/2013 11/26/13 Sold $2,900,000 -1.2% $211 / Sq Ft
10/03/2013 10/03/13 Pending -- -- --
09/10/2013 09/10/13 For Sale $2,935,000 +43.2% $214 / Sq Ft
09/05/2012 09/05/12 Sold $2,050,000 +3.0% $150 / Sq Ft View Prior Sale
07/02/2012 07/02/12 Pending -- -- --
06/15/2012 06/15/12 For Sale $1,990,000 -- $145 / 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: PW13183799

California Regional Multiple Listing Service (CRMLS)