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11716 Gurley Avenue

Downey, CA 90241
  • $5,750,000
  • STATUS: Active
  • ON SITE: 141 Days
  • ID#: PW23005386
$5,750,000
  • 0
    BEDS
  • 0.42
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS

School Ratings & Info

Listing Agent(s): Daniel Gomez of Younglewin Advisors, Inc. (562-318-0215) and Shane Young of Younglewin Advisors, Inc.(562-318-0215)


Description

We are pleased to present this 23 unit offering in an excellent rental pocket of Downey, CA. The property has over 49% upside in rental income and has been meticulously maintained from previous ownership. There are 23 surface parking spaces, all new vinyl windows installed in 2022, no municipal rent control, only subject to AB 1482.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-06-01T00:34:09.453. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Forss Realty Group. Licensed in the State of California, USA.
www.teamforss.com/homes/135957747
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11716 Gurley Avenue Downey, CA 90241

  • Price: $5,750,000
  • Status: Active
  • On Site: 141 Days
  • ID#: PW23005386
0
Beds
0
Baths
0
½ Baths
0.42
Acres
1957
Built
Neighborhood:
D3 - Southwest Downey, S of Firestone, W of Downey
County:
Los Angeles
Area:
D3 - Southwest Downey, S of Firestone, W of Downey
Property Description
We are pleased to present this 23 unit offering in an excellent rental pocket of Downey, CA. The property has over 49% upside in rental income and has been meticulously maintained from previous ownership. There are 23 surface parking spaces, all new vinyl windows installed in 2022, no municipal rent control, only subject to AB 1482.
Exterior Features

Lot Features Rectangular Lot Number Of Separate Electric Meters 24 Open Parking Spaces 23 Parking Total 23 Pool Features Community Pool Private YN No Property Attached YN Yes

Interior Features

Appliances DryerWasher Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 3.65 Common Interest Community Apartment Community Features SidewalksPool Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 5631 Gross Scheduled Income 358710 Insurance Expense 5058 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange Maintenance Expense 11500 Net Operating Income 217183 New Construction YN No New Taxes Expense 72820 Number Of Separate Gas Meters 24 Number Of Separate Water Meters 1 Number Of Units Leased 23 Operating Expense 136396 Other Expense 17422 Pest Control Expense 1150 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Unknown Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 29893 Trash Expense 0 Vacancy Allowance 10761 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Dor3*



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-06-01T00:34:09.453. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Forss Realty Group. Licensed in the State of California, USA.
 
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Team Forss Realty Group
31213 Temecula Parkway
Temecula CA, 92592
Listing Agent(s): Daniel Gomez of Younglewin Advisors, Inc. (562-318-0215) and Shane Young of Younglewin Advisors, Inc.(562-318-0215)