Apartment for sale in Southern California — $3,550,000. PRICED TO SELL! Now offered at a 6.58% CAP Rate, 10.26 GRM! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, now aggressively priced at $3,550,000. This well-loc…
$3,550,000
11517 Old River School Rd, Downey, CA 90241
PRICED TO SELL! Now offered at a 6.58% CAP Rate, 10.26 GRM! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, now aggressively priced at $3,550,000. This well-located asset features all 1-Bed/1-Bath units totaling 8,616 rentable square feet on an expansive 14,489 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and long-term retention. The property is now delivering a 6.58% CAP Rate and 10.26 GRM, providing stronger in-place returns and improved cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11523 Old River School Rd is also available for purchase, creating a unique chance to acquire 32 units total, ideal for investors seeking scale, operational efficiency, and long-term portfolio growth in a prime Downey location. Positioned in a high-demand rental market, this offering combines improved pricing, solid fundamentals, and a desirable unit mix, making it a compelling acquisition for investors focused on immediate income and future upside.
Listing updated: July 1, 2026 at 2:52 PM
Listed by: Kristopher German, RE/MAX 2000 REALTY
Source: CRMLS, MLS#: CV26059950, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
5/20/2026 Source: CRMLS, #CV26059950 | Price change | $3,550,0000.0% |
| 5/20/2026Source: CRMLS, #CV26059950 | Pending sale | $3,550,000-3.9% |
| 3/19/2026Source: CRMLS, #CV26059950 | Listed for sale | $3,695,000 |
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