10216 Vultee Avenue is a 53-unit apartment building located in Downey, California. This value add opportunity with ±27% rental upside. The building features an excellent mix of one, two and three-bedroom units, with 9 2BD/2BA townhouse units that feature private patios/balconies. Twenty-five percent have been renovated recently, twenty-five percent are original, and fifty percent of the units were updated in the past 5-10 years. Ample parking is available with 77 total secured spaces. Additional amenities include a gated community swimming pool/spa, laundy facilities and building security system. Building improvements include copper plumbing and new windows and patio doors. All roofs have been replaced within the past 5-10 years. The units are all electric with individual gas meters for heat only. Capital expenditure invested in the property totals $786,214 (see page 11 for breakdown). Recognized as a "Gateway City", Downey is strategically located at the 'gateway' between Los Angeles and Orange County. Surrounded by major commuter thoroughfares (Interstates 5, 710 and 605), Downey's centralized location provides easy access to all of Southern California.