10601 Parrot Avenue

Downey, CA 90241

$4,000,000
Price
Beds
9,288 Sq. Ft.
$431 / Sq. Ft.
9,288
Sq. Ft.
$431
per Sq. Ft.

Description

Nestled on a quiet cul-de-sac a short distance from both major Downey thoroughfares of Florence Ave and Firestone Blvd, this 2-building, 16-unit property at 10601 Parrot Ave offers the perfect combination of convenience and seclusion. The property is largely removed from the dense neighborhoods that surround it which were mainly developed during the peak of Downey’s cold-war-era expansion. The property consists of over 9,000 square feet of livable space with a unit mix of four 2-bedroom units, and...Nestled on a quiet cul-de-sac a short distance from both major Downey thoroughfares of Florence Ave and Firestone Blvd, this 2-building, 16-unit property at 10601 Parrot Ave offers the perfect combination of convenience and seclusion. The property is largely removed from the dense neighborhoods that surround it which were mainly developed during the peak of Downey’s cold-war-era expansion. The property consists of over 9,000 square feet of livable space with a unit mix of four 2-bedroom units, and twelve spacious 1-bedroom units. The building is individually metered for gas and electric and has a flat roofs on both buildings. In addition to its close proximity to schools, employment, and enjoyment, the tenants enjoy on-site amenities including a spacious courtyard, carport parking and laundry room. With market rents a mere 15% away, a new owner should be able to achieve them in less than 2 increases.
  1. Listed by Justin White • DRE #01267826 • Brokerage DRE #01267826 • Justin White

Property Details for 10601 Parrot Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
16.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
9288
Assessor Parcel Number
6251-035-030
Property Attached YN
true
LISTING UPDATED: 07/08/2020 01:59 AM

Property Details for 10601 Parrot Avenue

StatusActive
MLS #PW20133410
Days on Market1598
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.38 AC / 16,673 SF
CountyLos Angeles County

Building Information for 10601 Parrot Avenue

Stories-Residences-Year Built1957Building Size-Lot Size0.38 AC / 16,673 SF

Property Information for 10601 Parrot Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $281,272
  • Gross Scheduled Income: $281,272
  • Net Operating Income: $173,439
  • Cap Rate: 4.34
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $99,451
  • New Taxes Expense: $45,620
  • Expense Year: $99,451
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $4,180
  • Professional Management Expense: $0
  • Trash Expense: $3,887
  • Water Sewer Expense: $0
  • Real Estate Tax Expense: $45,620
  • Total Expenses: $99,451
Tax / Assessment Info
  • Tax Block: 5
  • Tax Tract Number: 0
  • Tax Census Tract: 5509.01
  • Tax Lot: 8
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Dryer Included
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Cul-De-Sac
  • Land Use: Multi-Family
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Other, Unknown
  • Sewer/Septic: Other/Remarks
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Building Status: Existing
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,600
  • Unit Type Total Rent: $1,600
  • Unit Type Pro Forma: 1850
  • Unit Type Area: 800
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,400
  • Unit Type Total Rent: $1,400
  • Unit Type Pro Forma: 1550
  • Unit Type Area: 500
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 0
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0

Property History for 10601 Parrot Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 10601 Parrot Avenue

Taxable ValueLand$1,850,746Additions$2,264,733Total$4,115,479
Tax Record2024$53,262 ($4,438 / month)
Home Facts
Total Finished SqFt9,288 SqFtAbove Grade Finished SqFt9,288 SqFtLot Size16,673 SqFtStyleMulti-Family Res (5+ Units)Year Built1957ZoningDOR3*CountyLOS ANGELESAPN6251-035-030

Schools near 10601 Parrot Avenue

This home is within Downey Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Rio Hondo Elementary School
PublicK to 5

Griffiths Middle School
Public6 to 8

Warren High School
Public9 to 12

Woodruff Academy
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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10601 Parrot Avenue is a multi-family home for sale in Downey, CA 90241. This property was listed for sale on July 7, 2020 by Justin White, it's currently listed at $4,000,000. It has been on the market for a total of 1598 days and was last sold on January 11, 2021. This listing's school district is Downey Unified School District. Nearby schools include Rio Hondo Elementary School, Griffiths Middle School and Warren High School. 10601 Parrot Avenue is a 0-bed, 0-bath, 9,288 sqft multi-family home built in 1957.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Justin White, Justin White, DRE #01267826

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.