Apartment for sale in Southern California — $3,550,000. NEW Price: Now Offering a 6.34% CAP Rate! 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 feature…
$3,550,000
11523 Old River School Road, Downey, CA 90241
NEW Price: Now Offering a 6.34% CAP Rate! 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 16 1-Bed/1-Bath units plus a non-conforming studio (stand alone structure ideal for ADU conversion - check with proper city authorities), totaling 8,208 rentable square feet on an expansive 14,604 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents enjoy a full range of amenities including onsite parking, an onsite laundry facility, and a sparkling swimming pool, recently resurfaced with a new security gate being installed. Additional recent improvements include all staircases replaced for second-floor access, enhancing both safety and long-term durability. The property is now delivering a 6.34% CAP Rate and 9.84 GRM, providing improved in-place returns and stronger day-one cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11515 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, recent capital improvements, and strong fundamentals, making it a compelling acquisition for investors focused on immediate income and long-term upside.
Listing updated: July 1, 2026 at 2:55 PM
Listed by: Kristopher German, RE/MAX 2000 REALTY
Source: CRMLS, MLS#: CV26060040, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
5/20/2026 Source: CRMLS, #CV26060040 | Price change | $3,550,0000.0% |
| 5/20/2026Source: CRMLS, #CV26060040 | Pending sale | $3,550,000-3.9% |
| 3/19/2026Source: CRMLS, #CV26060040 | Listed for sale | $3,695,000 |
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