11503 OLD RIVER SCHOOL Road, Downey CA, 90241

Sold

11503 OLD RIVER SCHOOL Road

Downey CA, 90241

$3,200,000

$389.86 per sqft

Sold

16 Beds

8,208 sqft

Residential

Built in 1957

Listed by Roderick 'Rick' Raymundo with Marcus & Millichap 213-943-1855

We are pleased to present 11503 Old River School Road, a 16-unit multifamily property in the heart of Downey that is not subject to Los Angeles rent control. Situated on a large 13,985 square foot corner lot near the intersection of Firestone Boulevard and Old River School Road, the two buildings provide a rare opportunity for an owner to capitalize on approximately 21% rent upside in a non-rent controlled investment.Deferred maintenance is significantly reduced thanks to the new electrical upgrades and new roof installed in 2016, along with the fact that the property is not on the Los Angeles seismic retrofit list (Buyer to verify). To capitalize on recent rent growth in the Downey area and truly maximize income, a new investor can add value through additional interior and exterior renovations. Two separate on-site laundry rooms provide additional income streams to the property owner.

18380098

MLSⓇ ID

March 18, 2024

Updated

Interior Features

Total Stories: 2
Bedrooms: 16
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.32 Acres

Other Property Details

Area Name: D3 - Southwest Downey, S of Firestone, W of Downey
Days on Market: 72
Garage: No
Parking: Uncovered
Parking Total: 16
View: No
County: Los Angeles
Zoning: DOR3*

Listing Contact: 818-212-2700

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/18/2024. 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.

Data last updated on 3/18/2024 at 7:23 PM UTC