NOT LISTED FOR SALE

8127 Stewart And Gray Rd Downey, CA 90241

6 Beds
6 Baths
10,929 Sq Ft
0.45 Acres

Last Sold October 31, 2022

Last sale price $4,400,000 $403 Per Sq Ft

117 Days on Market

Highlights

  • 0.45 Acre Lot
  • Laundry Room
  • Rectangular Lot
  • Warren High School Rated A-

About This Home

As of October 2022

We are pleased to present Downey Palms, a 16-unit apartment community, located in Downey, CA. At a 4% CAP rate on current income, and with approximately 30% upside on rents, this property is priced under recent & relevant sales comps. The building is composed of a studio, 1-bedrooms (13), a 2-bedroom, and a large 3-bedroom 2.5-bath. The units feature A/C wall units, ceiling fans, laminate wood floors (some units), and gas cooking. The property presents a leased laundry facility, a combination of tuck under and open parking, a partially replaced roof, individual gas and electric meters, and copper plumbing. With approximately 35% upside in rental income, an investor will achieve well-over a 5% cap rate once they stabilize the asset.

Last Agent to Sell the Property

Chris Keramati

Triqor Group License #01702116 Listed on: 05/04/2022

Last Buyer's Agent

Chris Keramati

Triqor Group License #01702116 Listed on: 05/04/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.45 Acre Lot
  • Two or More Common Walls
  • Rectangular Lot

Parking

  • 19 Parking Spaces

Home Design

  • 10,929 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Assessor Parcel Number 6255019003
  • $3,642 per year additional tax assessments

Community Details

Building Details

  • Rent Control
  • 16 Separate Electric Meters
  • Operating Expense $101,126
  • Gross Income $286,644
  • Net Operating Income $176,918

Additional Features

  • 16 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • CapRate: 4.00
  • Price Per Unit: 278438
  • Property Attached: Yes
  • Zoning: DOR3-P*
  • Property Type: Residential Income
  • Parcel Number: 6255019003
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 402.60

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 19.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 19469.00
  • Lot Size Acres: 0.4469

Multi Family

  • Gross Income: 286644.00
  • Gross Scheduled Income: 286644.00
  • Lot Size Area: 19469.0000 Square Feet
  • Net Operating Income: 176918.00
  • Number Of Separate Electric Meters: 16
  • Number Of Units Total: 16
  • Operating Expense: 101126.00
  • Rent Control: Yes
  • Total Expenses: 101126.00

Tax Info

  • Tax Census Tract: 5513.00
  • TaxOtherAnnualAssessmentAmount: 3642.00

Range of Values:

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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 Change Sq Ft Price
10/31/2022 10/31/22 Sold $4,400,000 -1.2% $403 / Sq Ft
08/29/2022 08/29/22 Pending -- -- --
07/25/2022 07/25/22 Price Changed $4,455,000 0.0% $408 / Sq Ft
07/25/2022 07/25/22 For Sale $4,455,000 -3.2% $408 / Sq Ft
06/16/2022 06/16/22 Pending -- -- --
05/04/2022 05/04/22 For Sale $4,600,000 -- $421 / 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 2022

    Chris Keramati

    Triqor Group

    (949) 756-3232

    3 in this area

    20 Total Sales

    Chris Keramati
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22093167

California Regional Multiple Listing Service (CRMLS)

APN: 6255-019-003

California Los Angeles County Downey 90241

8127 Stewart And Gray Rd, Downey, CA

This home is located at 8127 Stewart And Gray Rd, Downey, CA 90241 since 04 May 2022. This property was built in 1964. 8127 Stewart And Gray Rd 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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