8207 Stewart And Gray Rd - Apartments FOR SALE


Downey, CA 90241
$6,985,000 USD
949-756-3232
8207 Stewart And Gray Rd, Downey, CA for Sale
$6,985,000 USD
Apartments - FOR SALE
1/3
null | 5.45% Cap Rate

8207 Stewart And Gray Rd
Downey, CA 90241


HIGHLIGHTS

  • Ideal Mix of One and Two Bedroom Units with Individual Meters
  • Well-Maintained and Gated Property with Mostly Upgraded Units
  • Approximate 5.5% Current Cap Rate and Over 6% on Market
  • Desirable Downey Location with Frontage on Stewart and Gray Rd.

OVERVIEW

We are pleased to present The Normandy, a 25-unit multifamily community located in the high-demand market of Downey, CA. This well-maintained asset features a diverse unit mix of one and two-bedroom floor plans, plus a non-conforming studio. Interior highlights include upgrades such as quartz countertops, vinyl plank flooring, wall air conditioning, and gas cooking. The property boasts significant recent capital improvements, including a partially replaced roof, resurfaced decks, a repaved driveway, and a new gas line. With over half of the units already renovated and a current cap rate of 5.5%, the Normandy Apartments offers investors the opportunity to achieve over a 6% cap rate on market rents.

FOR SALE DETAILS

PRICE

$6,985,000 USD

PRICE/SF

$412 USD /SF

# OF UNITS

25

PRICE/UNIT

$279,400

CAP RATE

5.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Normandy

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,605 SF

ZONING

DOR15000*

APN/PARCEL ID

6255-018-017

ASK ABOUT THIS PROPERTY

Chris KeramatiTriqor GroupMore Info
949-756-3232

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Chris KeramatiTriqor GroupMore Info
949-756-3232

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