14-Unit Apartment
New
For Sale
$4,950,000
11605 Downey Ave, Downey, CA 90241
Residential Income, Downey, CA
Property Size12,331 SF
Lot Size0.44 Acres
Price / SF$401.43
Days on Market2
Property Features for 11605 Downey Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
WDOR3*
Bedrooms
18
Bathrooms
18
Full bathrooms
3
Rooms
Bedroom 13, Bedroom 12, Bedroom 2, Bathroom 6, Bathroom 2, Bedroom 16, Bedroom 10, Bathroom 10, Bathroom 16, Bathroom 1, Bathroom 12, Bedroom 14, Bedroom 6, Bedroom 18, Bedroom 8, Bathroom 18, Bedroom 5, Bathroom 4, Bathroom 3, Bathroom 14, Bedroom 1, Bedroom 17, Bedroom 15, Bedroom 7, Bedroom 9, Bathroom 11, Bathroom 7, Bathroom 15, Bedroom 3, Bedroom 4, Bathroom 5, Bathroom 8, Bedroom 11, Bathroom 9, Bathroom 13, Laundry Room, Bathroom 17
Parking
28
Parking features
Carport, Garage - Attached, Garage
Directions
From the I-5 Freeway, exit Firestone Blvd, head west, turn south on Downey Ave; property is located at 11605 Downey Ave.
Subdivision
Southwest Downey, S of Firestone, W of Downey
Standard status
Active
APN
6255-013-020
Size
12,331 SF
Lot size
0.44 Acres
Additional Details
Individually Metered Utilities
electricity
Amenities
private patios and balconies
air conditioning
dual-pane windows
gated access
on-site laundry facility
Building Details
Year built
1971
Floors in Building
2
Number of units
14
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Nick Petrosian · License #01462598
(949) 607-7096
Added: Oct 26
Last Checked: Oct 27 at 8:06AM
MLS# 26104421
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 14-unit apartment property in Downey contains 12,331 square feet on a 0.4415-acre site. The unit mix comprises ten one-bedroom, one-bath residences and four two-bedroom, two-bath residences. Built in 1971, the property includes private patios and balconies, air conditioning, dual-pane windows, and replaced electrical panels and breakers. Gated access and an on-site laundry facility are also provided. Electricity is separately metered by unit, while gas service is master-metered.
On-site parking totals 28 spaces: 13 open spaces, 13 carport spaces and a two-car garage. The property is near Downtown Downey and major shopping, dining and employment. Access to I-5, I-105, I-605 and I-710 connects the area with employment centers across Los Angeles and Orange Counties. Zoning is WDOR3*. The City of Downey has no local rent control ordinance; applicable units are subject to California statewide rent regulations.
On-site parking totals 28 spaces: 13 open spaces, 13 carport spaces and a two-car garage. The property is near Downtown Downey and major shopping, dining and employment. Access to I-5, I-105, I-605 and I-710 connects the area with employment centers across Los Angeles and Orange Counties. Zoning is WDOR3*. The City of Downey has no local rent control ordinance; applicable units are subject to California statewide rent regulations.
Key Highlights
- 14 apartment units: ten one‑bedroom/one‑bath and four two‑bedroom/two‑bath
- 12,331 square feet on a 0.4415‑acre parcel
- Built in 1971; air conditioning, dual‑pane windows and private patios or balconies
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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Lease Details
14
Residential units
Yes
Highway access
Yes
Utilities to site
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Gated entry, private outdoor spaces and an on-site laundry facility serve residents across the property.
Where is this apartment building located?
The property is located at 11605 Downey Ave 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 apartment units: ten one‑bedroom/one‑bath and four two‑bedroom/two‑bath; 12,331 square feet on a 0.4415‑acre parcel; Built in 1971; air conditioning, dual‑pane windows and private patios or balconies
