11118 Newville Avenue
$1,800,000
10
9
6,062
6,062
$297
Pending
Description
"The Jade" Apartments is a 6-unit multi-family property. Situated on 6,969 square feet of land, the property is only .60 miles from Stonewood Center one of Downey's largest employers. Discreetly positioned next to Rio San Gabriel Park, the property has covered carports w/ on-site laundry facilities. This six-unit gem has been well maintained through the years and features upgraded flooring, quartz countertops, new blinds & new windows. Additionally, the units are large & spacious averaging over 1,000sq.ft...."The Jade" Apartments is a 6-unit multi-family property. Situated on 6,969 square feet of land, the property is only .60 miles from Stonewood Center one of Downey's largest employers. Discreetly positioned next to Rio San Gabriel Park, the property has covered carports w/ on-site laundry facilities. This six-unit gem has been well maintained through the years and features upgraded flooring, quartz countertops, new blinds & new windows. Additionally, the units are large & spacious averaging over 1,000sq.ft. per residence. With a balcony or private patio provided for every unit the property has tremendous upside potential. In fact, current rents are more than 28% below market levels. Downey is home to Boeing Company, Kaiser Permanente, PIH Health to name few. Moreover, 54% of all residents are between ages 25-64 with an average annual household income of $75,974 per year. A savvy investor could seize the opportunity to acquire a well-located asset with tremendous upside potential in an area bolstered by strong investment fundamentals and continued growth trends. Profroma Cap Rate of 7.0% on conservative rents!
- Listed by Maurius Jeffery • DRE #01738154 • Brokerage DRE #01238010 • Marcus & Millichap
Property Details for 11118 Newville Avenue
Zoning
DOC1*
Parcel Number6287025017
Total Units6.0
Living Area6062
Source Living AreaAssessor
AreaNortheast Downey, N of Firestone, E of Downey (D1)
Vacancy Rate$4,134
Lot Size Area7095
LISTING UPDATED: 11/21/2024 11:31 AM
Property Details for 11118 Newville Avenue
Status | Pending |
---|---|
MLS # | 24-455825 |
Days on Market | 29 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1961 |
Lot Size | 0.16 AC / 7,095 SF |
County | Los Angeles County |
Building Information for 11118 Newville Avenue
Stories2Residences-Year Built1961Building Size-Lot Size0.16 AC / 7,095 SF
Property Information for 11118 Newville Avenue
Property History for 11118 Newville Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 11118 Newville Avenue
Taxable ValueLand$231,442Additions$579,428Total$810,870
Tax Record2024$11,656 ($971 / month)
Home Facts
Total Finished SqFt6,062 SqFtAbove Grade Finished SqFt6,062 SqFtLot Size7,095 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningDOC1*CountyLOS ANGELESAPN6287-025-017
Schools near 11118 Newville 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 San Gabriel Elementary School PublicK to 5 | ||
Doty Middle School Public6 to 8 | ||
Downey 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.
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