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    9231 Washburn Road

    Downey, CA 90242
    • $8,500,000
    • STATUS: Closed
    • ON SITE: 364 days
    • ID#: PW19232172
    Sold - 02/19/2020
    $8,500,000
    SOLD - 02/19/2020
    • 0
      BEDS
    • 1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 25,526
      SQFT
    • $0
      $/SQFT

    School Ratings & Info

    Description

    Welcome to Del Norte Apartments, a 33-unit apartment investment opportunity located in the exceptionally strong rental market of Downey. Del Norte Apartments is located in one of the best parts of Downey, just steps to the brand new retail, dining and entertainment hub of Downey Landing. This apartment community is comprised of 85% two and three-bedroom units with new vinyl windows, new copper plumbing, and granite countertops & tile flooring throughout. Available for the first time in 20 years, Del Norte Apartments is an excellent investment opportunity to invest in a well-maintained asset in one of the best locations in the city of Downey offering a new investor tremendous upside potential. *Phenomenal Downey Rental Location, *85% 2 & 3-Bedroom Units, *Copper Plumbing, *Vinyl Windows, *Granite Countertops and Tile Flooring

    Sold by Doug Rodermund of Morgan Skenderian.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-29T21:29:34.21. 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 RE/MAX Masters. Licensed in the State of California, USA.

    www.bestlahomefinder.com/homes/99475233
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    9231 Washburn Road Downey, CA 90242

    • Price: $8,550,000
    • Status: Closed
    • Updated: 39 min ago
    • ID#: PW19232172
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1
    Acres
    25,526
    SQFT
    $0
    $/SQFT
    1964
    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
    Welcome to Del Norte Apartments, a 33-unit apartment investment opportunity located in the exceptionally strong rental market of Downey. Del Norte Apartments is located in one of the best parts of Downey, just steps to the brand new retail, dining and entertainment hub of Downey Landing. This apartment community is comprised of 85% two and three-bedroom units with new vinyl windows, new copper plumbing, and granite countertops & tile flooring throughout. Available for the first time in 20 years, Del Norte Apartments is an excellent investment opportunity to invest in a well-maintained asset in one of the best locations in the city of Downey offering a new investor tremendous upside potential. *Phenomenal Downey Rental Location, *85% 2 & 3-Bedroom Units, *Copper Plumbing, *Vinyl Windows, *Granite Countertops and Tile Flooring
    Exterior Features

    Carport Spaces 31.00 Garage Spaces 0.00 Lot Features 31-35 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 45.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.20 Community Features CurbsSidewalksStorm DrainsStreet Lights Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 2400.00 Gross Income 6000.00 Gross Multiplier 15.36 Gross Operating Income 539863.00 Gross Scheduled Income 556560.00 Insurance Expense 8535.00 Land Lease YN No Laundry Income 6000.00 Laundry YN Yes Maintenance Expense 25000.00 Net Operating Income 362201.00 New Construction YN No New Taxes Expense 99913.00 Number Of Separate Electric Meters 34 Number Of Separate Gas Meters 34 Number Of Separate Water Meters 1 Operating Expense 177662.00 Operating Expense Percent 31.90 Other Expense 23000.00 Other Expense Description Utility Pest Control Expense 1200.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 177662.00 Trash Expense 0.00 Vacancy Allowance 16697 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Workmans Compensation Expense 11880.00 Year Built Source Assessor Zoning Dor15000*

    Listing provided courtesy of Doug Rodermund of Morgan Skenderian


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-29T21:29:34.21. 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 RE/MAX Masters. Licensed in the State of California, USA.

     
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    RE/MAX Masters
    475 E. Badillo Street
    Covina CA, 91723