11118 Newville Avenue

Downey, CA 90241

$1,800,000
Price
10
Beds
9
Baths
6,062 Sq. Ft.
$297 / Sq. Ft.
6,062
Sq. Ft.
$297
per Sq. Ft.

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!
  1. Listed by Maurius Jeffery • DRE #01738154 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 11118 Newville Avenue

Zoning
DOC1*
Parcel Number
6287025017
Total Units
6.0
Living Area
6062
Source Living Area
Assessor
Area
Northeast Downey, N of Firestone, E of Downey (D1)
Vacancy Rate
$4,134
Lot Size Area
7095
LISTING UPDATED: 11/21/2024 11:31 AM

Property Details for 11118 Newville Avenue

StatusPending
MLS #24-455825
Days on Market29
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
Lot Size0.16 AC / 7,095 SF
CountyLos 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

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $134,565
  • Net Operating Income: $87,347.00
  • Gross Income: $137,786
  • Cap Rate: 4.85%
  • Gross Rent Multiplier: $13.06
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 47218
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1629
  • Lot Size Square Feet: 7095
Parking Details
Parking Details
  • Parking Garage: Carport Detached
  • Total Parking: 6
  • Parking Features: Detached Carport
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Microwave, Freezer, Ceiling Fan
  • Interior Features: Ceiling Fan(s)
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Stall(s)
Lease Terms
Lease Terms
  • Entry Date: 10-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,778.00
  • Unit Actual Rent: $1,778.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,178.00
  • Unit Actual Rent: $2,178.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,718.00
  • Unit Actual Rent: $1,718.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,251.00
  • Unit Actual Rent: $2,251.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $567,969.00
  • Assessed Improvement Percent: 71.45
  • Assessed Land Value: $226,904.00
  • Assessed Land Percent: 28.55
  • Assessed Total Value: $794,873.00

Property History for 11118 Newville 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 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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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 Marcus & Millichap, Maurius Jeffery, DRE #01738154

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.