Renovated Eight-Unit Apartment
17420 Downey, Bellflower, CA 90706
For Sale
$2,850,000
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 Market52
Property Features for 17420 Downey
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
on-site laundry
assigned parking
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Kirklen Investment Group
Listed By:
Jason Kirklen · License #01939655
(949) 942-1302
Source:
Velocityrealtysd
Added: Sep 18
Changed: Nov 5
Last Checked: Nov 6 at 3:47PM
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 Kirklen Investment Group
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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 / Yr
$114,711
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
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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
$661,100
Median Home Value
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Market
Average Price Trend$/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 - 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
