7375 -7385 Emily Lane, Downey, CA 90242
- $3,025,000
- Sold Price
- $3,025,000
- List Price
- $3,500,000
- Closing Date
- Oct 01, 2024
- Status
- CLOSED
- MLS#
- PW24088444
- Year Built
- 1958
- Lot Size
- 15,034
- Acres
- 0.35
- Lot Location
- 0-1 Unit/Acre, Walkstreet
- Days on Market
- 47
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
Property Description
An excellent opportunity to acquire a 16-unit multifamily building in Downey, CA. Located at 7375-7385 Emily Ln, this multifamily asset was built in 1958. It offers twelve 1 bed, 1 bath units and four 2 bed, 1 bath units. Residents of the property enjoy gated off-street parking, as well as a central courtyard and two on-site laundry rooms. The buildings boast a total of 10,200 gross rentable square feet spread across two separate parcels with aggregate lot square footage of 15,034. The property is within walking distance of restaurants on Imperial Hwy, the Rancho Los Amigos National Rehabilitation Center and Los Amigos Golf Course. With more than 50% upside potential in rental income, it is the perfect opportunity for an investor to add value and achieve an exceptional return.
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Additional Information
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Electric, Wall/Window Unit(s)
- Roof
- Flat
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 16
- Gross Scheduled Income
- $281,367
- Operating Expense
- 112012
Listing courtesy of Listing Agent: Justin White (thesbgbp@gmail.com) from Listing Office: Justin White.
Listing sold by Justin White from Justin White
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.