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1221 S Hacienda Blvd

Hacienda Heights, CA 91745

1 626 427 0786

kris@theapartmentdealer.com

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10 Units in Downey

11816 Downey Ave, Downey, CA 90241, USA
Sold For$2,850,000$285,000/Per Unit

Description

TRANSACTION DETAILS

  • SOLD FULL PRICE – KRIS REPRESENTED THE SELLER (TCHENG FAMILY)
  • The Tcheng Family had Owned This Investment Property for Over 30 Years and Decided to Execute a 1031-Exchange
  • Kris Negotiated Two, 30-Day Extensions of Escrow on the Tcheng’s Behalf to allow them Adequate Time to Find Their Replacement Property
  • The Tchengs Found Their Replacement Property “Upleg” to Fulfill Their 1031-Exchange Requirement Prior to the Close of Escrow of Their Sale

New Property Fulfilled 5 Main Goals for the Tchengs:

  • Increased Number of Units
  • Greater Income Potential
  • Better Location/Increased Appreciation
  • Newer Constructed Property

“Kris, had we not met, and without your counsel, we would have continued to dismiss the idea of a 1031-Exchange. We are extremely happy with our decision to sell and excited about our new investment. Thank you again!” – Mrs. Tcheng

PROPERTY DESCRIPTION

  • (2) 3-Bed/2 1/2-Bath Two-Story Townhouses
  • (8) 2-Bed/1 1/2-Bath Two-Story Townhouses
  • HUGE Oversized Units – 10,486 Rental SqFt
  • Tenants Enjoy Onsite Parking & Laundry Facility
  • Gated Courtyard Setting
  • Units Separately Metered for Electricity & Gas
  • Address: 11816 Downey Ave
  • City: Downey
  • State/county: California
  • Zip/Postal Code: 90241
  • Country: United States

Detail

Updated on October 7, 2019 at 4:44 pm

  • Price: Sold For $2,850,000
  • Property Size: 10486 SqFt
  • Land Area: 13435 SqFt
  • Year Built: 1964
  • Property Type: Multi Family
  • Property Status: Sold

Additional details

  • # of Units: 10
  • Unit Mix: 2 (3+2.5 TH), 8 (2+1.5 TH)
  • Zoning: DOR2*
  • CAP Rate: 4.38%
  • GRM: 15.51
  • We Represented: Seller
  • Close of Escrow: 09/24/2019

WalkScore

walkscore68 / Somewhat Walkable more details here

Contact info

Kristopher German
Kristopher German
(626) 427-0786
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