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11816 Downey Ave, Downey, CA 90241
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11816 Downey Ave Downey, CA 90241

$3,400,000 Sold Price as of 10/22/2021
  • 22 Beds
  • 12 Baths
  • 10,486 Sq.Ft.
Sold
$3,400,000 Sold Price as of 10/22/2021 Refinance Your Mortgage
Map preview of 11816 Downey Ave, Downey, CA 90241

Property Overview: 11816 Downey Ave Downey, CA has 22 bedrooms, 12 bathrooms, 10,486 living square feet and 13,435 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 10 unit townhome complex located in the city of Downey, CA. Please contact listing agents for any inquiries.

Listed by Ryan Khansari | BRE #02039747 | American Team Properties
Co-listed by Juan Cardenas | BRE #01233927 | Remax Commercial and Investment Realty
Last checked: 5 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 42

Home details

Lot Sq. Ft
13,435
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
DW21165202
City
Downey
County
Los Angeles
Time on Site
1149 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 2
  • # of Leased Units: 10
  • # of Electric Meters: 10
  • # of Gas Meters: 11
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,772
  • Total Rent: $14,174
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,975
  • Total Rent: $3,950
  • Pro Forma/Market Rent: $2,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.08%
  • Gross Rent Multiplier: 16.09
  • Gross Scheduled Income: $220,368
  • Net Operating Income: $137,339
  • Gross Operating Income: $213,757
  • # of Rented Garages: 0
  • Garage Rental Rate: $0
  • Garage Rental Income: $0
  • Laundry Income: $1,680
  • Laundry Own/Lease: Lease
  • Other Income 1: $1,200
  • Other Income Description: Parking Spaces
Annual Expense Breakdown
  • Total Operating Expense: $76,418
  • Electric: $1,044
  • Gas/Fuel: $0
  • Licenses: $305
  • New Taxes: $42,357
  • Trash: $2,881
  • Cable TV: $0
  • Gardener: $2,439
  • Insurance: $4,250
  • Maintenance: $8,550
  • Workman's Comp: $0
  • Professional Management: $8,550
  • Water/Sewer: $3,042

Property Details for 11816 Downey Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Electric
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Carpet, Stone, Vinyl
  • All Bedrooms Up, Entry, Kitchen, Living Room
Kitchen Information
  • Has Appliances
  • Built-In Range, Gas Range, Range Hood, Water Heater
Interior Features
  • Copper Plumbing Partial, Tile Counters, Unfurnished
  • Levels: Two
  • Window Features: Blinds
  • Security Features: Security Lights
Exterior Features
Exterior Information
  • Roof: Flat
  • No Fence
  • None
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 18
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: 6-10 Units/Acre, Paved, Sprinkler System, Sprinklers In Front, Sprinklers Timer
  • Lot Size Source: Public Records
  • Common Interest: None
Property Information
  • Has View
  • View: Neighborhood
  • Common Walls: 2+ Common Walls
  • Total # of Units: 10
  • Parcel Number: 6255027009
  • Year Built Source: Public Records
  • Architectural Style: Mediterranean
  • Entry Level: 1
  • Foundation Details: Slab
  • Property is Attached
  • Accessibility Features: None
  • Offered With Property: N/A unless otherwise stated.
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Available, Natural Gas Available, Sewer Available, Water Available
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: Located on Downey Avenue South of Firestone
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Downey Agent

Sale History for 11816 Downey Ave

Last sold for $3,400,000 on October 22nd, 2021

  • September, 2021

  • Sep 27, 2021

    Date

    Pending

    CRMLS: DW21165202

    $3,400,000

    Price

  • Aug 28, 2021

    Date

    Price Change

    CRMLS: DW21165202

    $3,400,000

    Price

  • Jul 28, 2021

    Date

    Active

    CRMLS: DW21165202

    $3,500,000

    Price

  • September, 2019

  • Sep 25, 2019

    Date

    Sold

    CRMLS: CV19107781

    $2,850,000

    Price

  • May 17, 2019

    Date

    Pending

    CRMLS: CV19107781

    $2,850,000

    Price

  • May 9, 2019

    Date

    Active

    CRMLS: CV19107781

    $2,850,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to exclusively offer for sale this 10 unit multi-family investment in the city of Downey. The subject property offers a scarce construction style being composed of all Two-Story Townhouse ("condo style") units. The unit mix is comprised of two (3 Bed - 2 1/2 Bath) townhouses & eight (2 Bed- 1 1/2 Bath) townhouses, The average unit size is over 1,000 sqft each and all units are separately metered for electricity and gas. Tenants enjoy onsite parking as well as an onsite laundry facility. The current ownership has held the subject property for a number of years, subsequently one will find that the current rental rates are well below market. With some modest capital improvement, a new owner can take advantage of the dense rental community Downey has to offer, and reposition the rental rates well above current levels.

  • September, 2019

  • Sep 24, 2019

    Date

    Sold (Public Records)

    Public Records

    $2,850,000

    Price

  • February, 2011

  • Feb 2, 2011

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 11816 Downey Ave

Assessed Value (2020): $2,850,000
Year Land Value Improved Value Assessed Value
2020 $1,150,000 $1,700,000 $2,850,000

Home Value Compared to the Market

This property vs the competition

11816 Downey Ave sold on October 22, 2021 for 279.89% higher than the current median sold price for the city of Downey which is $895,000. The median sold price per/sqft for Downey is $582 and this home is sold at $324.24 per/sqft which puts the price per square foot 44.29% lower than the current median sale per square foot for the city of Downey.

About 11816 Downey Ave

Detailed summary of property

11816 Downey Ave is a multi family that recently sold in Downey, CA 90241. This multi family property offered 22 bedrooms, 12 bathrooms, roughly 10,486 living square feet, and sits on an approximately 13,435 square foot lot. 11816 Downey Ave was first listed on ArdentRealEstateGroup.com on July 28, 2021. The homeowner sold the property for $3,400,000. Home in Downey are selling for a median price of $895,000 and a median price per square foot of $582. Based on Ardent Real Estate Group's Downey Market Data, this home is sold 279.89% higher than the current median priced home. Local homes that are currently for sale include 1943 Hancock St, 936 W 71st St and 3212 S Main St. While the average home in Downey, CA is selling in 56 days, 11816 Downey Ave has a days on market of 42 days. There are currently 98 homes for sale in the Downey real estate market and 83 of them are single family homes while 12 of them are condos and 3 are townhomes. For more information on this home for sale at 11816 Downey Ave Downey, CA 90241 contact Ardent Real Estate Group and we will put you in touch with one of our Downey agents.

Public Facts for 11816 Downey Ave

Public county record property details
Beds
--
Baths
--
Year built
1964
Sq. Ft.
10,486
Lot Size
13,435
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
6255-027-009

The source for these homes facts are from public records.

90241 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$909,900
Median List Price/Sq.Ft.
$558
Median Sold Price
$987,000
Median Sold Price/Sq.Ft.
$536
Total Inventory
43
Median Sale to List Price %
100.82%
Avg Days on Market
42
Loan Type
Conventional (41.67%), FHA (16.67%), VA (0%), Cash (33.33%), Other (8.33%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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