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7224 Florence Avenue

Downey, CA 90240
  • $2,250,000
  • STATUS: Active Under Contract
  • ON SITE: 18 Days
  • ID#: PW21249310
Under Contract
UPDATED: 50 min ago
$2,250,000
  • 0
    BEDS
  • 0.72
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS

School Ratings & Info

Listing Agent: Chris Keramati of Triqor Group


Description

The Florence Avenue Property is a 6-unit apartment building, located in the desirable city of Downey, CA. This property is situated on a very large 31,000 square foot lot, which houses 6 large, single story, bungalow style, 2-Bedroom and 1-Bathroom units, each with its own garage. It is located on the major thoroughfare of Florence Avenue, and is in close proximity to CA-170 & I-5 Freeways, allowing for quick access to all the attractions of Southern California. An astute investor will recognize this property offers a unique opportunity to provide an income-producing asset in the strong rental market of Downey.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T17:27:24.207. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/123314173
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7224 Florence Avenue Downey, CA 90240

  • Price: $2,250,000
  • Status: Active Under Contract
  • On Site: 18 Days
  • Updated: 50 min ago
  • ID#: PW21249310
0
Beds
0
Baths
0
½ Baths
0.72
Acres
1953
Built
Neighborhood:
D2 - Northwest Downey, N of Firestone, W of Downey
County:
Los Angeles
Area:
D2 - Northwest Downey, N of Firestone, W of Downey
Property Description
The Florence Avenue Property is a 6-unit apartment building, located in the desirable city of Downey, CA. This property is situated on a very large 31,000 square foot lot, which houses 6 large, single story, bungalow style, 2-Bedroom and 1-Bathroom units, each with its own garage. It is located on the major thoroughfare of Florence Avenue, and is in close proximity to CA-170 & I-5 Freeways, allowing for quick access to all the attractions of Southern California. An astute investor will recognize this property offers a unique opportunity to provide an income-producing asset in the strong rental market of Downey.
Exterior Features

Lot Features Rectangular Lot Number Of Separate Electric Meters 6 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Cap Rate 3 Common Interest Community Apartment Community Features Street LightsSidewalksUrban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 111674 Gross Scheduled Income 115128 Insurance Expense 0 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 66779 New Construction YN No Number Of Separate Gas Meters 6 Number Of Separate Water Meters 3 Operating Expense 44895 Rent Control YN No Senior Community YN No Sewer Septic Tank Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance 3454 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Dor3-Pb*



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T17:27:24.207. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: Chris Keramati of Triqor Group