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11923 Old River School RoadDowney, CA 90242Price: $4,025,000

  • Price: $4,025,000
  • Est. Mortgage of $/month
  • 19 Days on Market
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Federal 30-year interest rate: 3.05% last updated on Oct 14, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $4,025,000List Price
  • 0.45Acreage

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Listed by Michael McKinney and Nancy Bush of Lyon Stahl Investment Real Estate, Inc.
Offers Due By: 5:00 p.m. on October 5,2021. The Casa del Rio Apartments represents an opportunity for an investor to acquire a quality 15-unit value-add multi-family asset with the potential to add an additional 4 ADUs per California State standards. There is an extra Bachelor unit (not in the 15-unit count) that is connected to one of the 2 Bd/2Ba units,which is currently being used as the owner’s office. The 2 Bd/2Ba could be easily combined with the Bachelor into a 3 Bd/3Ba unit. The stability of the Downey market is highly appealing to long-term investors. And for apartment renovators there is demonstrable upside in the current rents,by as much as 41%,if higher-end improvements were brought to the property. Rents have not been raised in over 2-years allowing buyer to increase rents 8.6% per state law. Downey is a coveted location for apartment investors due to its central location,diverse employment base,and access to main employment centers within the area.

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 "Based on information submitted to CA_CRMLS as of October 16, 2021 8:55 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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