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