14-Unit Apartment
11605 Downey Avenue, Downey, CA 90241
For Sale
$4,950,000
Residents have access to gated entry, on-site laundry, and dedicated parking.
Property Size12,331 SF
Price / SF$401.43
Days on Market14
Property Features for 11605 Downey Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Highway Access
Amenities
private patios and balconies
air conditioning
dual-pane windows
gated access
on-site laundry facility
Building Details
Year Built
Listing Agency:
Remax Commercial and Investment Realty
Listed By:
Nick Petrosian · License #01462598
(949) 607-7096
Source:
Sevengables
Added: Oct 25
Changed: Nov 6
Last Checked: Nov 4 at 5:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Remax Commercial and Investment Realty
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Investment Insights
Based on property information with market context.
This 12,331-square-foot apartment property was built in 1971 and contains 14 units: ten one-bedroom, one-bathroom apartments and four two-bedroom, two-bathroom apartments. Unit features include private patios or balconies, air conditioning, and dual-pane windows. Electrical panels and breakers have been replaced.
The property provides 28 parking spaces, comprising 13 open spaces, 13 carport spaces, and a two-car garage. On-site amenities also include gated entry and laundry facilities. Electricity is individually metered by unit; gas service is master-metered.
The property is at 11605 Downey Avenue in Downey, near downtown shopping, dining, and employment. Access to I-5, I-105, I-605, and I-710 is noted.
The property provides 28 parking spaces, comprising 13 open spaces, 13 carport spaces, and a two-car garage. On-site amenities also include gated entry and laundry facilities. Electricity is individually metered by unit; gas service is master-metered.
The property is at 11605 Downey Avenue in Downey, near downtown shopping, dining, and employment. Access to I-5, I-105, I-605, and I-710 is noted.
Key Highlights
- 14 apartments: ten 1‑bedroom/1‑bath units and four 2‑bedroom/2‑bath units
- 12,331 square feet; built in 1971
- 28 parking spaces: 13 open, 13 carport, and one two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,093
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,621,860
$3.6M
Cap Rate 7%
$2,587,043
$2.6M
Cap Rate 9%
$2,012,144
$2.0M
Market Conditions
NOI Build-Up for 12,331 SF
Gross rent
$344.8K $27.96/SF
− Vacancy
−$15.5K −$1.26/SF
EGI
$329.3K $26.70/SF
− OpEx
−$148.2K −$12.02/SF
NOI
$181.1K $14.69/SF
Area
Downey, CA
Vacancy
4.50%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,621,860
Cap Rate 7%
$2,587,043
Cap Rate 9%
$2,012,144
Alternative Uses
Best Use
Apartment 5plus
$2.59M
$2.26M – $3.02M
NOI $181,093 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $352,173 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
14
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,759
Businesses Nearby
Explore this area
Business Placement
Demographics for 90241, CA
44,921
Population
15,100
Households
3
Avg Household Size
37
Median Age
25%
College-Educated
81%
High-School Grad
4.9 sq mi
ZIP Area
9,168
Density / Sq Mi
$84,375
Median Household Income
$43,319
Median Earnings
$1,884
Median Rent
$770,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles County, CA
Properties on Market for Apartment buildings in Los Angeles County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to gated entry, on-site laundry, and dedicated parking.
Where is this apartment building located?
The property is located at 11605 Downey Avenue Downey, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 14 apartments: ten 1‑bedroom/1‑bath units and four 2‑bedroom/2‑bath units; 12,331 square feet; built in 1971; 28 parking spaces: 13 open, 13 carport, and one two‑car garage
