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Key Details
Sold Price $1,950,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID DW19267111
Sold Date 03/06/20
HOA Y/N No
Year Built 1959
Lot Size 7,405 Sqft
Property Description
this 6 unit apartment building located in the best rental pocket of Downey, CA. This property is located across from the NEW Condo Development right off 5th Street and a few steps from Downtown Downey. The location of the property is irreplaceable and is in the best area of Downey which is the best city to own rental property in the South East Los Angeles rental market! Downey is not Rent Control and has seen a huge increase in rent levels and decrease in vacancy factor. Rents in Downey are consistently the highest in the area. The unit mix is comprised of ALL (6) 2bd/1ba. The units are in excellent condition and offer huge upside in rental income. Current rents of 4 of the units are under market by about 20%. 2 of the units are at Market and fully remodeled.
Location
State CA
County Los Angeles
Area D2 - Northwest Downey, N Of Firestone, W Of Downey
Zoning DOR3*
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Assigned
Garage Spaces 2.0
Carport Spaces 4
Garage Description 2.0
Pool None
Community Features Suburban
Parking Type Assigned
Total Parking Spaces 9
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6251035031
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Dale Jervis • Century 21 Jervis & Associates
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