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6.27% CAP Rate | 10.68 GRM | Prime Downey! 11515-11517 Old River School Rd 16 Unit Apartment Building $5,017,810 CAD ($313,613 CAD/Unit) 6.27% Cap Rate Downey, CA 90241
Investment Highlights
- Opportunity to purchase 16 fully leased units in Prime Downey at a 6% CAP Rate!
- Strong in-place income with favorable CAP Rate and operational simplicity.
- On-site parking and laundry facilities support tenant demand and retention.
- Located within a dense infill market with established renter demand and regional transit access.
Executive Summary
NEW Price: Now Offering a 6.27% 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 all 1-Bed/1-Bath units totaling 8,616 rentable square feet on an expansive 14,489 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand.
Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and long-term retention. The property is now delivering a 6.27% CAP Rate and 10.68 GRM, providing stronger in-place returns and improved cash flow following the price adjustment.
Rare additional opportunity: The adjacent property at 11523 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, solid fundamentals, and a desirable unit mix, making it a compelling acquisition for investors focused on immediate income and future upside.
Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and long-term retention. The property is now delivering a 6.27% CAP Rate and 10.68 GRM, providing stronger in-place returns and improved cash flow following the price adjustment.
Rare additional opportunity: The adjacent property at 11523 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, solid fundamentals, and a desirable unit mix, making it a compelling acquisition for investors focused on immediate income and future upside.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$469,651
|
$54.51
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$14,089
|
$1.64
|
| Effective Gross Income |
$455,561
|
$52.87
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$140,894
|
$16.35
|
| Net Operating Income |
$314,668
|
$36.52
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $469,651 |
| Annual Per SF | $54.51 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,089 |
| Annual Per SF | $1.64 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $455,561 |
| Annual Per SF | $52.87 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $140,894 |
| Annual Per SF | $16.35 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $314,668 |
| Annual Per SF | $36.52 |
Property Facts
| Price | $5,017,810 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $313,613 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6.27% | Building Size | 8,616 SF |
| Gross Rent Multiplier | 10.68 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 2.32/1,000 SF |
| Zoning | DOR3* | ||
| Price | $5,017,810 CAD |
| Price Per Unit | $313,613 CAD |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| Gross Rent Multiplier | 10.68 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 8,616 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 2.32/1,000 SF |
| Zoning | DOR3* |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 650 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 6231-003-012 | Improvements Assessment | $1,518,983 CAD |
| Land Assessment | $1,281,637 CAD | Total Assessment | $2,800,620 CAD |
Property Taxes
Parcel Number
6231-003-012
Land Assessment
$1,281,637 CAD
Improvements Assessment
$1,518,983 CAD
Total Assessment
$2,800,620 CAD
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6.27% CAP Rate | 10.68 GRM | Prime Downey! | 11515-11517 Old River School Rd
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