11523 Old River School Rd

Downey, CA 90241

$3,800,000
Price
11
Beds
16
Baths
8,208 Sq. Ft.
$463 / Sq. Ft.
8,208
Sq. Ft.
$463
per Sq. Ft.
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New
New

Description

Just Listed! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, priced aggressively at $237,500 per unit. This well-located asset features 16 1-Bed/1-Bath units, and a non-conforming Studio unit, all totaling 8,208 rentable square feet on an expansive 14,604 sq. ft. lot, offering an efficient layout that consistently attracts tenant demand. Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and retention....Just Listed! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, priced aggressively at $237,500 per unit. This well-located asset features 16 1-Bed/1-Bath units, and a non-conforming Studio unit, all totaling 8,208 rentable square feet on an expansive 14,604 sq. ft. lot, offering an efficient layout that consistently attracts tenant demand. Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and retention. The property is currently delivering a 5.71% CAP Rate and 10.63 GRM, providing strong in-place returns with long-term investment stability. Rare additional opportunity: The adjacent property located at 11515 Old River School Rd is also available for purchase, creating a unique chance to acquire 32 units total ideal for investors seeking scale, operational efficiency, and long-term portfolio growth in a prime Downey location. Positioned in a high-demand rental market, this offering combines solid fundamentals, desirable unit mix, and an attractive price point, making it an excellent acquisition for investors focused on both cash flow and future upside.
  1. Listed by Kristopher German • DRE #01800021 • Brokerage DRE #01264629 • RE/MAX 2000 REALTY • 909-645-0443

Property Details for 11523 Old River School Road

View
None
Parking Spaces Total
16
Private Pool
Yes
Cooling Type
Wall/Window Unit(s)
Total Units
16.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8208
LISTING UPDATED: 03/19/2026 11:37 AM

Property Details for 11523 Old River School Road

StatusActive
MLS #CV26060040
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1956
CountyLos Angeles County
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Location

Listing Courtesy of RE/MAX 2000 REALTY, Kristopher German, DRE #01800021
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Building Information for 11523 Old River School Road

Building/Complex11523 Old River School RdFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1956Building Size-

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$20,767 per month

30 year fixed, 6.11% Interest

Principal and Interest

$18,442

Property Taxes

$2,325

HOA Dues

$0

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Property Information for 11523 Old River School Road

Rental Info
Rental Info
  • Tenant Pays: Gas, Electricity
Income / Expense / Tax Details
Income Details
  • Gross Income: $357,600
  • Gross Scheduled Income: $357,600
  • Vacancy Allowance: 10728
  • Gross Operating Income: $346,872
  • Net Operating Income: $216,812
  • Laundry Income: $4,080
  • Gross Multiplier: 10.63
  • Cap Rate: 5.71
  • Current Financing: None
Expense Details
  • Operating Expense: $130,060
  • New Taxes Expense: $45,330
  • Fuel Expense: $6,000
  • Pool Expense: $6,855
  • Electric Expense: $6,000
  • Insurance Expense: $8,500
  • Maintenance Expense: $12,000
  • Professional Management Expense: $13,875
  • Other Expense: $17,100
  • Other Expense Description: Manager
  • Trash Expense: $6,000
  • Water Sewer Expense: $6,000
  • Total Expenses: $130,060
Tax / Assessment Info
  • Tax Block: 003
  • Tax Tract Number: 010
  • Tax Lot: 6231
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: No
  • Assessments: None
  • Community Features: Street Lights
Property / Structure Info
Interior Features
  • Appliances: None
  • Equipment: Laundry Area, None
  • Laundry: Yes
  • Laundry Features: Common Area
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
Exterior Features
  • Roof: Flat
  • Entry Location: 1
  • Fence: No
  • Fence: None
  • Fencing: None
  • View Description: None
  • Pool Features: Private
  • Pool Description: Private
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Alley Paved
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Water Available, Sewer Available, Natural Gas Available, Electricity Available
  • Electric: Electricity Available, Natural Gas Available, Sewer Available, Water Available
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 16
  • Open Other Spaces Total: 16
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Assigned, Asphalt
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,895
  • Unit Type Total Rent: $1,895
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,625
  • Unit Type Total Rent: $1,625
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,550
  • Unit Type Total Rent: $1,550
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 11
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,875
  • Unit Type Total Rent: $1,875
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 2
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,855
  • Unit Type Total Rent: $1,855
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 3
Unit 6
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,850
  • Unit Type Total Rent: $3,700
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 4
Unit 7
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,845
  • Unit Type Total Rent: $3,690
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 5
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,815
  • Unit Type Total Rent: $1,815
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 6
Unit 9
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $5,400
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 7
Unit 10
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,750
  • Unit Type Total Rent: $3,500
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 8
Unit 11
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,650
  • Unit Type Total Rent: $1,650
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 9
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 1

Property History for 11523 Old River School Road

DateEvent & SourcePriceAppreciation
Mar 19, 2026

Listed (Active)

CLAW #CV26060040MR

$3,800,000—
Mar 19, 2026

Listed (Active)

CRMLS #CV26060040

$3,800,000—
Jan 5, 2013

Expired

CRMLS #Y44475

$1,850,000—
Jan 3, 2005

Expired

CLAW #Y44475MR

—
Oct 5, 2004

Listed (Active)

CRMLS #CC238045

$1,850,000—
Oct 5, 2004

Listed (Active)

CLAW #Y44475MR

$1,850,000—
Oct 5, 2004

Listed (Active)

CRMLS #Y44475

$1,850,000—
DateEvent & SourcePrice
03/19/2026

Listed (Active)

CLAW #CV26060040MR

$3,800,000
03/19/2026

Listed (Active)

CRMLS #CV26060040

$3,800,000
01/05/2013

Expired

CRMLS #Y44475

$1,850,000
01/03/2005

Expired

CLAW #Y44475MR

—
10/05/2004

Listed (Active)

CRMLS #CC238045

$1,850,000
10/05/2004

Listed (Active)

CLAW #Y44475MR

$1,850,000
10/05/2004

Listed (Active)

CRMLS #Y44475

$1,850,000

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

Public Records for 11523 Old River School Road

Taxable ValueLand$940,886Additions$1,119,488Total$2,060,374
Tax Record2025$27,898 ($2,325 / month)
Home Facts
Total Finished SqFt8,208 SqFtAbove Grade Finished SqFt8,208 SqFtLot Size14,604 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningDOR3*CountyLOS ANGELESAPN6231-003-010

Schools near 11523 Old River School Road

This home is within Downey Unified School District.
Rating
School
Type
Grades
Distance
Williams Elementary School
Public - K to 3
Old River Elementary School
Public - 4 to 5
Stauffer Middle School
Public - 6 to 8
Warren High School
Public - 9 to 12
Rating
School
Distance
Williams Elementary School
PublicK to 3

Old River Elementary School
Public4 to 5

Stauffer Middle School
Public6 to 8

Warren High School
Public9 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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More information about 11523 Old River School Road, Downey, CA 90241

11523 Old River School Road is a multi-family home for sale in Downey, CA 90241. This property was listed for sale on March 19, 2026 by RE/MAX 2000 REALTY, it's currently listed at $3,800,000. This listing's school district is Downey Unified School District. Nearby schools include Williams Elementary School, Old River Elementary School and Stauffer Middle School. 11523 Old River School Road is a 11-bed, 16-bath, 8,208 sqft multi-family home built in 1956.

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, Inc., its subsidiaries, affiliates and their agents and associated third parties 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 RE/MAX 2000 REALTY, Kristopher German, DRE #01800021

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.