10518 Western Ave Downey, CA 90241-2470
- Apartment buildings
- 11,059 SF
- 0.40 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 10518 Western Ave
- Year built
- 1973
- Construction
- WOOD
- Lot size
- 0.40 lot acres
- Property size
- 11,059 SF
- Zone code
- DOR3*
- Property type
- Apartment buildings
- APN
- 6252-026-030
- APU
- 6252026030
Description
This exceptional 12-unit apartment building presents a compelling value-add opportunity in prime North Downey, California. The property, located at 10518 Western Ave, Downey, CA 90241, boasts 11,059 square feet on a 17,400 square foot lot and features a mix of spacious one and two-bedroom units. Built in 1973, the two-story building offers a strong foundation for future growth. The current Net Operating Income (NOI) is $205,954, yielding a 5.57% cap rate, with a pro-forma NOI of $269,974 and a pro-forma cap rate of 7.30%. The asking price is $3,700,000, translating to $334.57 per square foot and $308,333.33 per unit. Ample parking is provided with 25 spaces, exceeding a 2:1 ratio. The property is fee simple ownership and is not subject to a ground lease. This represents a rare opportunity to acquire a well-maintained multifamily asset in a desirable location with significant upside potential through rental increases. The property's convenient location offers easy access to essential services and major transportation routes, ensuring strong rental demand. This is a first-time-on-the-market offering in over 30 years. The property's Class C designation further underscores its value-add potential. The Los Angeles County Assessor's Parcel Number (APN) is 6252026030.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,595,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,795,000
- 6.5%
- $3,960,000
- 7%
- $3,785,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,885,000
- Geo Method
- $3,855,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,990,000
- Retail
- $4,120,000
- Mixed-Use
- $3,645,000
- Hospitality
- $3,120,000
- Educational
- $4,250,000
- Residential Income
- $3,800,000
- Energy
- $4,335,000
- Income-Based Land
- $3,670,000
- Food Service
- $3,590,000
Location Insight
- Map
- Local Demand
- City
- Downey
- County
- Los Angeles
- State
- California
- Longitude
- -118.131
- Latitude
- 33.948
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
