USACADowney11523 Old River School Rd
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$3,695,000

For Sale

A month ago

11523 Old River School Rd, Downey, CA

Condo

MLS® CV26060040

0 Bed

0 Bath

--

16 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage 
HOA Fees 
Taxes 
Days Active 38
Approx. Age 1956
MLS® Number CV26060040

Property Address: 11523 Old River School Rd, Downey, CA, 90241-4451

Average square foot calculated using Size range provided by listing agent.

Description

NEW Price: Now Offering a 6.05% CAP Rate! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, now aggressively priced at $3, 695, 000. This well-located asset features 16 1-Bed/1-Bath units plus a non-conforming studio (stand alone structure ideal for ADU conversion - check with proper city authorities), totaling 8, 208 rentable square feet on an expansive 14, 604 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents enjoy a full range of amenities including onsite parking, an onsite laundry facility, and a sparkling swimming pool, recently resurfaced with a new security gate being installed. Additional recent improvements include all staircases replaced for second-floor access, enhancing both safety and long-term durability. The property is now delivering a 6.05% CAP Rate and 10.25 GRM, providing improved in-place returns and stronger day-one cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11515 Old River School Rd is also available for purchase, creating a unique chance to acquire 32 units total, ideal for investors seeking scale, operational efficiency, and long-term portfolio growth in a prime Downey location. Positioned in a high-demand rental market, this offering combines improved pricing, recent capital improvements, and strong fundamentals, making it a compelling acquisition for investors focused on immediate income and long-term upside.
MLS® NumberCV26060040
Locker
Ensuite Laundry
Balcony
Furnished
Laundry Level
Exposure
Exterior
Garage
Approx. Age1956
Stories2
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 20, 2026List Date
$3,695,000List Price
-End Date
Not Sold YetSold Price

For Sale

Mar 20, 2026List Date
$3,800,000List Price
  • Commute

Commute

Starting Address
Destination Address
11523 Old River School Rd, Downey, CA

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