11502 11506 Adco AVE new Save Request In-Person Tour Request Virtual Tour
Downey,CA 90241
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 8,616 sqft
Price per Sqft $522
MLS Listing ID 25608361
Bedrooms 16
Year Built 1956
Lot Size 0.333 Acres
Property Description
The Adco Avenue Apartments is a fully renovated and stabilized asset in one of L.A. County's most competitive suburban markets. Located in the strategic 605/710 Corridor, the property offers strong in-place cash flow and long-term growth. Downey is a non-rent-controlled city governed solely by AB 1482, allowing annual rent increases of up to 8%. The property is offered at a 5.21% cap rate, above the market average, creating immediate yield in a submarket known for tighter pricing. Property consists of (2) 8-unit buildings with separate APNs so no on-site manager required (APNs: 6231-003-004 & 6231-004-005). Sixteen one-bedroom, one-bath units. Property is master metered, though ownership has implemented RUBS.
Location
State CA
County Los Angeles
Area D3 - Southwest Downey, S Of Firestone, W Of Downey
Zoning DOR3*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet,Tile
Laundry Common Area
Exterior
Parking Features Uncovered
Community Features Gated
View Y/N No
View None
Roof Type Composition,Shingle
Building
Story 2
New Construction No
Others
Special Listing Condition Standard