16-Unit Apartment
New
For Sale
$5,125,000
7306 7312 Neo Street, Downey, CA 90241
Renovated apartments provide a mix of one-, two-, and three-bedroom layouts.
Property Size10,524 SF
Price / SF$486.98
Days on Market3
Property Features for 7306 7312 Neo Street
General Information
Standard status
Active
Size
10,524 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$61,135
Amenities
garage parking
laundry facility
courtyard
1
2+ Common Walls
2
Common Area
Rectangular Lot
false
Public
13094
24
0.3006
Assessor
Assigned
10524
17
Building Details
Building Size
10,524 SF
Year Built
1957
Buildings
1
Stories
2
Listing Agency:
Morgan Skenderian
Listed By:
Doug Rodermund · License #01314304
(949) 251-8800
Source:
Stiglerhomes
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 1:55AM
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 Morgan Skenderian
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Investment Insights
Based on property information with market context.
Twin Palms is a 16-unit apartment property with approximately 10,524 square feet of building area. The units have been renovated and include a mix of one-, two-, and three-bedroom layouts. Built in 1957, the property also has garage parking, a laundry facility, and a courtyard.
Copper plumbing and SB721 compliance are among the property’s documented features. The building is not subject to municipal rent control and is located in Downey, California.
Copper plumbing and SB721 compliance are among the property’s documented features. The building is not subject to municipal rent control and is located in Downey, California.
Key Highlights
- 16 renovated apartments with one-, two-, and three‑bedroom layouts
- Approximately 10,524 square feet of building area
- Built in 1957
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,555
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,091,100
$3.1M
Cap Rate 7%
$2,207,929
$2.2M
Cap Rate 9%
$1,717,278
$1.7M
Market Conditions
NOI Build-Up for 10,524 SF
Gross rent
$294.3K $27.96/SF
− Vacancy
−$13.2K −$1.26/SF
EGI
$281.0K $26.70/SF
− OpEx
−$126.5K −$12.02/SF
NOI
$154.6K $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%
$3,091,100
Cap Rate 7%
$2,207,929
Cap Rate 9%
$1,717,278
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.93M – $2.58M
NOI $154,555 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.29M
$3.76M – $5.01M
NOI $300,565 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
575
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 - Renovated apartments provide a mix of one-, two-, and three-bedroom layouts.
Where is this apartment building located?
The property is located at 7306 7312 Neo Street Downey, CA.
What is the asking price?
The asking price for this property is $5,125,000.
What are key features of this property?
This property features: 16 renovated apartments with one-, two-, and three‑bedroom layouts; Approximately 10,524 square feet of building area; Built in 1957
