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Key Details
Sold Price $3,025,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24088444
Sold Date 10/01/24
HOA Y/N No
Year Built 1958
Lot Size 0.345 Acres
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.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Heating Wall Furnace
Cooling Electric, Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Parking Features Carport
Pool None
Community Features Golf, Suburban
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Flat
Private Pool No
Building
Lot Description 0-1 Unit/Acre, Walkstreet
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 6233036007
Energy Description 4783.0
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Justin White • Justin White
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Terrance Scotton, Broker Associate
Broker Associate | License ID: 01707848 NMLS: 908256
Broker Associate License ID: 01707848 NMLS: 908256