10518 Western AveDowney, CA 90241

Property Details for 10518 Western Ave

Year built

1973

Construction

WOOD

Lot size

0.40 AC

Property size (Sq ft)

11,059 SF

Zone code

DOR3*

Property type

Apartment buildings

APN

6252-026-030

APU

6252026030

Description

This exceptional 12-unit apartment building presents a compelling value-add opportunity in prime North Downey, California. The property, located at 10518 Western Ave, Downey, CA 90241, boasts 11,059 square feet on a 17,400 square foot lot and features a mix of spacious one and two-bedroom units. Built in 1973, the two-story building offers a strong foundation for future growth. The current Net Operating Income (NOI) is $205,954, yielding a 5.57% cap rate, with a pro-forma NOI of $269,974 and a pro-forma cap rate of 7.30%. The asking price is $3,700,000, translating to $334.57 per square foot and $308,333.33 per unit. Ample parking is provided with 25 spaces, exceeding a 2:1 ratio. The property is fee simple ownership and is not subject to a ground lease. This represents a rare opportunity to acquire a well-maintained multifamily asset in a desirable location with significant upside potential through rental increases. The property's convenient location offers easy access to essential services and major transportation routes, ensuring strong rental demand. This is a first-time-on-the-market offering in over 30 years. The property's Class C designation further underscores its value-add potential. The Los Angeles County Assessor's Parcel Number (APN) is 6252026030.

• CAP approach

  CAP return

  Valuation

  6%

  $3,939,606

  6.5%

  $3,636,559

  7%

  $3,376,805

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,259,618

  Geo Method

  $3,259,618

• Alternative Use

  Use

  Valuation

  Residential

  $3,636,559

  Hospitality

  $3,331,068

  Educational

  $2,771,410

  Medical

  $2,866,723

  Retail

  $4,311,082

Location Insight

City

Downey

County

Los Angeles

State

California

Latitude

33.948

Longitude

-118.131

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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