Pending
11118 Newville Avenue
Downey CA, 90241
$1,800,000
$296.93 per sqft
Pending
10 Beds
9 Baths
6,062 sqft
Residential
Built in 1961
Listed by Maurius Jeffery with Marcus & Millichap 213-943-1837
"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!!!
24455825
MLSⓇ ID
October 21, 2024
Listed
December 5, 2024
Updated
Map
11118 Newville Avenue
Downey CA, 90241
Interior Features
Total Stories
2
Bedrooms
10
Total Bathrooms
9
Interior Features
Ceiling Fan(s)
Appliances
Microwave
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.16 Acres
Other Property Details
Area Name
D1 - Northeast Downey, N of Firestone, E of Downey
Days on Market
29
Garage
No
Parking
Detached Carport
Parking Total
6
View
No
County
Los Angeles
Pool
No
Zoning
DOC1*
Listing History
Date | Event | Price |
|---|---|---|
11/21/2024 | Pending | — |
Listing Contact: 310-909-5500
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/5/2024 at 9:23 AM UTC