11118 Newville Avenue
Downey, CA 90241
- – beds
- – baths
- – sqft
- 7,095 sqft lot
- 1961 build
- – on site
"The Jade" Apartments is a 6-unit multi-family property. Situated on 6,969 square feet of land, the property is only .60 miles from Stonewood Center one of Downey's largest employers. Discreetly positioned next to Rio San Gabriel Park, the property has covered carports w/ on-site laundry facilities. This six-unit gem has been well maintained through the years and features upgraded flooring, quartz countertops, new blinds & new windows. Additionally, the units are large & spacious averaging over 1,000sq.ft. per residence. With a balcony or private patio provided for every unit the property has tremendous upside potential. In fact, current rents are more than 28% below market levels. Downey is home to Boeing Company, Kaiser Permanente, PIH Health to name few. Moreover, 54% of all residents are between ages 25-64 with an average annual household income of $75,974 per year. A savvy investor could seize the opportunity to acquire a well-located asset with tremendous upside potential in an area bolstered by strong investment fundamentals and continued growth trends. Profroma Cap Rate of 7.0% on conservative rents!!!
Last checked:
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Last updated Oct 29, 2024
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MLS# 24455825 —
The Building
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Year Built:1961
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New Construction:No
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Building Area Total:6062.00
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# of Buildings:1
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Total Number Of Units:6
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Stories Total:2
Interior
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Features:Ceiling Fan(s)
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Levels:Two
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Laundry:Community
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Laundry:1
Location
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Directions:Located .60 miles from Stonewood Fashion Center just off Firestone Blvd.
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Latitude:33.92977800
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Longitude:-118.11102000
The Property
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Property Type:Residential Income
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Zoning:DOC1*
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Lot Size Area:7095.0000
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Lot Size Acres:0.1629
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Lot Size SqFt:7095.00
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Lot Size Source:Assessor
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:6287025017
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
Appliances
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Appliances:Microwave
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Included:Yes
The Community
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Senior Community:No
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Association:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Detached Carport
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Parking Spaces:6.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/22/24
Oct 22, 2024
|
Listed / Active | CRMLS_CA | $1,800,000 |
