11823 Lakewood Blvd - Apartments FOR SALE


Downey, CA 90241
$8,500,000 USD
949-295-8560
11823 Lakewood Blvd, Downey, CA for Sale
$8,500,000 USD
Apartments - FOR SALE
1/9
null | 6.38% Cap Rate

11823 Lakewood Blvd
Downey, CA 90241


HIGHLIGHTS

  • Best Location in all of Downey Across the Street From Downey Landing
  • Priced at $188,889/Unit
  • 10.68 GRM & 6.4% Cap Rate on Current Income
  • 8.27 GRM & 9.0% Cap Rate on Market Rents
  • Easy Upside in Rental Income for a New Owner
  • Situated on Over One Acre of Land

OVERVIEW

The Downey Villa Apartments offer an investor the opportunity to acquire 45 units in the best location of all of Downey—caddy corner to the Downey Landing development. The property has phenomenal exposure on the high-traffic major thoroughfare of Lakewood Boulevard and Stewart & Gray Road. Residents enjoy a community pool, on-site parking, an on-site laundry room and a quick walk across the street to all Downey Landing has to offer.

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$434 USD /SF

# OF UNITS

45

PRICE/UNIT

$188,889

CAP RATE

6.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Downey Villa Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

DOR3-P*

APN/PARCEL ID

6255-024-076

ASK ABOUT THIS PROPERTY

Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

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Doug RodermundMorgan-Skenderian Investment Real Estate GroupMore Info
949-295-8560

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.