Renovated Eight-Unit Apartment
New
For Sale
$2,850,000
17420 Downey, Bellflower, CA 90706
Eight-unit property with a consistent two-bedroom, one-bathroom layout and updates to select residences and common areas.
Property Size7,129 SF
Days on Market6
Property Features for 17420 Downey
General Information
Standard status
Active
Size
7,129 SF
Property subtype
Apartment
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Amenities
on-site laundry
assigned parking
Building Details
Building Size
7,129 SF
Year Built
1964
Buildings
1
Listing Agency:
Kirklen Investment Group
Listed By:
Jason Kirklen · License #01939655
Source:
Velocityrealtysd
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 22 at 9:19PM
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 Kirklen Investment Group
Investment Insights
Based on property information with market context.
Built in 1964, this apartment property contains eight two-bedroom, one-bathroom units, with four residences receiving comprehensive interior improvements. Renovated interiors feature vinyl plank flooring, shaker-style cabinetry, quartz countertops, updated kitchen and bathroom fixtures, ceiling fans, new appliances, and refreshed paint.
Exterior improvements include a roof replacement completed in 2023, dual-pane windows, updated entry doors, new laundry equipment, and refreshed paint. Assigned parking spaces have also been restriped. The property is located at 17420 Downey Avenue in Bellflower, California.
Exterior improvements include a roof replacement completed in 2023, dual-pane windows, updated entry doors, new laundry equipment, and refreshed paint. Assigned parking spaces have also been restriped. The property is located at 17420 Downey Avenue in Bellflower, California.
Key Highlights
- Eight‑unit apartment building with 100% two‑bedroom, one‑bathroom units
- Four units have received complete interior renovations
- Roof replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,711
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,294,220
$2.3M
Cap Rate 7%
$1,638,729
$1.6M
Cap Rate 9%
$1,274,567
$1.3M
Market Conditions
NOI Build-Up for 7,129 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$226.7K $31.80/SF
− Vacancy
−$18.1K −$2.54/SF
EGI
$208.6K $29.26/SF
− OpEx
−$93.9K −$13.17/SF
NOI
$114.7K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,294,220
Cap Rate 7%
$1,638,729
Cap Rate 9%
$1,274,567
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,711 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.34M – $4.45M
NOI $267,179 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
Explore this area
Business Placement
Demographics for 90706, CA
79,179
Population
24,499
Households
3.2
Avg Household Size
36
Median Age
20%
College-Educated
78%
High-School Grad
6.1 sq mi
ZIP Area
12,980
Density / Sq Mi
$77,602
Median Household Income
$38,452
Median Earnings
$1,771
Median Rent
$661,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit property with a consistent two-bedroom, one-bathroom layout and updates to select residences and common areas.
Where is this apartment building located?
The property is located at 17420 Downey Bellflower, CA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Eight‑unit apartment building with 100% two‑bedroom, one‑bathroom units; Four units have received complete interior renovations; Roof replaced in 2023
