Downey, CA 90242 7375 -7385 Emily Lane
$3,950,000
2 more
Presented By: Justin White with Justin White; [email protected]
Beds • 20
Baths • 2
SQFT • 10,200
Home Details
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.
Presented By: Justin White with Justin White; [email protected]
Interior Features for 7375 -7385 Emily Lane
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 7375 -7385 Emily Lane
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.12
Carport Y/NYes
CityDowney
Community FeaturesGolf, Suburban
CoolingElectric, WallWindowUnits
CountyLos Angeles
Days on Market34
DirectionsFrom Imperial Hwy, drive NE on Old River School Rd and take a left on Emily Ln
Electric Expense1350.1
Entry Location1
Fuel Expense4783.0
Garage Spaces0.0
Garage Y/NNo
Gross Income274667.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense8670.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsConventional
Lot Size Square Feet15034.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense10400.0
MobileHomeRemainsYNNo
Net Operating Income162655.0
New ConstructionNo
NumberOfUnitsTotal16
Operating Expense112012.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
RoofFlat
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot-
Taxes$49,375
Trash Expense4507.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
View Y/NNo
Water Sewer Expense2495.0
Waterfront Y/NNo
Year Built1958
Year Built SourcePublicRecords
Exterior for 7375 -7385 Emily Lane
Building Area Total10200.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre, Walkstreet
Lot Size Acres0.3451
Lot Size Area15034.0
Lot Size SourcePublicRecords
Number of Buildings2
Number of Separate Electric Meters16
Number of Separate Gas Meters16
Number of Separate Water Meters2
Open Parking Y/NNo
Parking FeaturesCarport
Road Frontage TypeCityStreet
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480