10518 Western AveDowney, CA 90241

  • Residential income properties
  • 11,059 SF
For Sale
$3,700,000 View listing

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
Residential income properties
Property subtype
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
10518 Western Ave, Downey, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$45,256
$1,340,252
$2,144,403
$3,484,655
-
-
-
-

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].