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Twin Palms 7306-7312 Neo St 16 Unit Apartment Building $6,988,757 CAD ($436,797 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 |
$526,918
|
$50.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,808
|
$1.50
|
| Effective Gross Income |
$511,111
|
$48.57
|
| Taxes |
$89,006
|
$8.46
|
| Operating Expenses |
$61,714
|
$5.86
|
| Total Expenses |
$150,720
|
$14.32
|
| Net Operating Income |
$360,391
|
$34.24
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $526,918 |
| Annual Per SF | $50.07 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,808 |
| Annual Per SF | $1.50 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $511,111 |
| Annual Per SF | $48.57 |
| Taxes (CAD) | |
|---|---|
| Annual | $89,006 |
| Annual Per SF | $8.46 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $61,714 |
| Annual Per SF | $5.86 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $150,720 |
| Annual Per SF | $14.32 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $360,391 |
| Annual Per SF | $34.24 |
Property Facts
| Price | $6,988,757 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $436,797 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 | $6,988,757 CAD |
| Price Per Unit | $436,797 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
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $2,498 CAD | 650 |
| 2+1 | 2 | $2,804 CAD | 775 |
| 3+1 | 2 | $3,550 CAD | 900 |
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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 | $5,868,099 CAD |
| Land Assessment | $2,170,690 CAD | Annual Taxes | $89,006 CAD ($8.46 CAD/SF) |
| Improvements Assessment | $3,697,409 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
6231-006-008
Land Assessment
$2,170,690 CAD
Improvements Assessment
$3,697,409 CAD
Total Assessment
$5,868,099 CAD
Annual Taxes
$89,006 CAD ($8.46 CAD/SF)
Tax Year
2025
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Twin Palms | 7306-7312 Neo St
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