11118 Newville Avenue

Downey, CA 90241

  • 10 Bed(s)
  • 0 Bath(s)
  • 6,062 Sqft
  • 7095
    Sqft(Lot)
$1,800,000

Description

"the jade" apartments is a 6-unit multi-family property. situated on 6,969 square feet of land, the property is only .60 miles from stonewood center one of downey's largest employers. discreetly positioned next to rio san gabriel park, the property has covered carports w/ on-site laundry facilities. this six-unit gem has been well maintained through the years and features upgraded flooring, quartz countertops, new blinds & new windows. additionally, the units are large & spacious averaging over 1,000sq.ft. per residence. with a balcony or private patio provided for every unit the property has tremendous upside potential. in fact, current rents are more than 28% below market levels. downey is home to boeing company, kaiser permanente, pih health to name few. moreover, 54% of all residents are between ages 25-64 with an average annual household income of $75,974 per year. a savvy investor could seize the opportunity to acquire a well-located asset with tremendous upside potential in an area bolstered by strong investment fundamentals and continued growth trends. profroma cap rate of 7.0% on conservative rents!!!

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47404999

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Property Details

  • Bedroom Information

    • Total Bedrooms : 10

    Bathroom Information

    • Total Baths: 9
    • Full Baths: 0
    • Half Baths: 0

    Interior Features

    • Interior Features: Ceiling Fan(s)
    • Property Appliances: Microwave

    Heating Source

    • Wall Furnace
    • Has Heating

  • Building Information

    • Year Built: 1961
    • Building Area Total: 6,062

    Laundry Features

    • Common Area

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1629
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 7095

  • Listing Price Information

    • Original List Price: 1,800,000
    • Listing Contract Date: 2024-10-21

    Lease Information

    • Listing Agreement: Seller Reserved

  • Tax Information

    • Parcel Number: 6287025017

  • Garage and Parking

    • Garage Description: Detached Carport

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Pending
    • Source Neighborhood: D1 - Northeast Downey, N of Firestone, E of Downey
    • Postal Code Plus 4: 4058
    • Directions: Located .60 miles from Stonewood Fashion Center just off Firestone Blvd.
    • Zoning: DOC1*
    • Source Property Type: Residential Income
    • Area: D1 - Northeast Downey, N of Firestone, E of Downey

    Building and Construction

    • Property Age: 63
    • Year Built Source: Vendor Enhanced
    • Total Square Feet Living: 6062
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 12/18/2024 @ 07:47

  • MLS: 24455825
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 10 bedrooms which is recently sold, it has 6,062 sqft, 7,095 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Downey , in zip code 90241, this Los Angeles County Home are nearby neighborhoods.