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Twin Palms 7306-7312 Neo St 16 Unit Apartment Building $7,099,355 CAD ($443,710 CAD/Unit) 5.16% Cap Rate Downey, CA 90241
Investment Highlights
- Great Mix of 1, 2 & 3-Bedroom Units
- Garage Parking
- Sought-After Downey Rental Market
- Completely Renovated Inside and Out
- Copper Plumbing & SB721 Compliant
- Not Subject to Municipal Rent Control
Executive Summary
Introducing Twin Palms at 7306-7312 Neo Street, a prime investment opportunity in Downey, CA. This ±10,524 SF building, constructed in 1957, comprises (16) immaculately renovated units, offering an attractive mix of 1, 2, and 3-bedroom layouts. With garage parking, copper plumbing, and SB721 compliance, Twin Palms provides investor peace of mind and a sought-after option in the vibrant Downey rental market. Notably, it is not subject to municipal rent control, adding further appeal. This property presents an excellent opportunity for a multifamily investor seeking a lucrative addition to their portfolio. Additionally, the property features a laundry facility, a charming courtyard, and is conveniently located in close proximity to major employment centers and freeways, enhancing its appeal as a valuable investment in the thriving Downey area.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$520,379
|
$49.45
|
| Other Income |
$14,877
|
$1.41
|
| Vacancy Loss |
$16,058
|
$1.53
|
| Effective Gross Income |
$519,199
|
$49.33
|
| Taxes |
$90,415
|
$8.59
|
| Operating Expenses |
$62,690
|
$5.96
|
| Total Expenses |
$153,105
|
$14.55
|
| Net Operating Income |
$366,094
|
$34.79
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $520,379 |
| Annual Per SF | $49.45 |
| Other Income (CAD) | |
|---|---|
| Annual | $14,877 |
| Annual Per SF | $1.41 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $16,058 |
| Annual Per SF | $1.53 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $519,199 |
| Annual Per SF | $49.33 |
| Taxes (CAD) | |
|---|---|
| Annual | $90,415 |
| Annual Per SF | $8.59 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $62,690 |
| Annual Per SF | $5.96 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $153,105 |
| Annual Per SF | $14.55 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $366,094 |
| Annual Per SF | $34.79 |
Property Facts
| Price | $7,099,355 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $443,710 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 5.16% | Building Size | 10,524 SF |
| Gross Rent Multiplier | 13.26 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.52/1,000 SF |
| Price | $7,099,355 CAD |
| Price Per Unit | $443,710 CAD |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 13.26 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.30 AC |
| Building Size | 10,524 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1957 |
| Parking Ratio | 1.52/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Heating
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $2,538 CAD | 500 |
| 2+1 | 2 | $2,848 CAD | 850 |
| 3+1 | 2 | $3,606 CAD | 1,000 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 6231-006-008 | Total Assessment | $5,943,577 CAD |
| Land Assessment | $2,198,611 CAD | Annual Taxes | $90,415 CAD ($8.59 CAD/SF) |
| Improvements Assessment | $3,744,966 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
6231-006-008
Land Assessment
$2,198,611 CAD
Improvements Assessment
$3,744,966 CAD
Total Assessment
$5,943,577 CAD
Annual Taxes
$90,415 CAD ($8.59 CAD/SF)
Tax Year
2025
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Twin Palms | 7306-7312 Neo St
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